Stock Market Today: All You Need To Know Going Into Trade On Oct. 17

Markets in Asia–Pacific rebounded Thursday as US benchmark Dow Jones Industrial average hit a fresh record. Traders assessed disappointing trade data from Japan.

The Nikkei 225 was trading 107.26 points, or 0.27% higher at 39,287.56 as of 06:23 a.m. The S&P ASX 200 and Kospi were trading 0.88% and 0.13% higher, respectively.

On Wednesday, the Dow Jones Industrial Average ended 0.79% higher at 43,077.70. The S&P 500 and Nasdaq Composite ended 0.47% and 0.28% higher, respectively.

The brent crude was trading 0.61% higher at $74.67 a barrel as of 06:34 a.m. The Bloomberg spot gold was trading at $2,677.34 an ounce.

The GIFT Nifty was trading 0.12%, or 30.50 points lower at 25,039.50 as of 06:35 a.m.

Meanwhile, the NSE Nifty 50 and the S&P BSE Sensex extended their two-day losing streak on Wednesday, reflecting a broader sell-off across global markets. Most indices in the Asia-Pacific region and Europe fell sharply, influenced by overnight trading on Wall Street.

The Nifty 50 closed down 86.05 points, or 0.34%, at 24,971.30, while the Sensex fell by 318.76 points, or 0.39%, to settle at 81,501.36.

Foreign portfolio investors continued their selling streak in Indian equities for the 13th consecutive session on Wednesday, offloading stocks worth Rs 3,435.9 crore. In contrast, domestic institutional investors purchased stocks valued at Rs 2,256.3 crore, according to provisional data from the National Stock Exchange.

The Indian rupee strengthened by 4 paise, closing at 84.00 against the US dollar.

Bajaj Auto Q2 FY25 (Standalone, YoY) 

• Revenue up 21.8% to Rs 13,127 crore versus Rs 10,777 crore (Bloomberg estimate Rs 13,253 crore).

• Ebitda up 24.37% to Rs 2,653 crore versus Rs 2,133 crore (Bloomberg estimate Rs 2,689 crore).

• Ebitda margin up 41 bps to 20.21% versus 19.79% (Bloomberg estimate 20.3%).

• Net profit up 9.2% to Rs 2,005 crore versus Rs 1,836 crore (Bloomberg estimate Rs 2,201 crore).

L&T Tech Q2 FY25 (Consolidated, QoQ)

• Revenue up 4.5% to Rs 2,573 crore versus Rs 2,462 crore (Bloomberg estimate Rs 2,570 crore).

• EBIT up 1.04% to Rs 388 crore versus Rs 384 crore (Bloomberg estimate Rs 413 crore).

• EBIT margin down 50 bps at 15.1% versus 15.6% (Bloomberg estimate 16.1%).

• Net profit up 1.91% to Rs 320 crore versus Rs 314 crore (Bloomberg estimate Rs 333 crore).

• The company declared interim dividend of Rs 17 per share.

Crisil Q3 FY25 (Consolidated, YoY)

• Total Income up 7.9% at Rs 833 crore vs Rs 772 crore (Bloomberg estimate Rs 790 crore).

• Net profit up 12.9% at Rs 172 crore vs Rs 152 crore (Bloomberg estimate Rs 159 crore).

• Company declared dividend of Rs 15 per share.

Axis Bank, Central Bank of India, Havells India, Infosys, Indian Overseas Bank, Jindal Stainless, LTIMindtree, Nestle India, Polycab India, Tata Chemicals, Tata Communications, and Wipro.

• Reliance Industries: The oil-to-telecom conglomerate announced Oct. 28 as the record date for the 1:1 bonus issue.

• GMR Airports Infrastructure: The company passenger traffic for September grew 9% year-on-year at 1.02 crore.

• UltraTech Cement: The company commissioned an additional 1.2 MTPA grinding capacity at the Arakkonam plant in Tamil Nadu.

• Bikaji Foods International: The company acquired a 53.02% stake in Hazelnut Factory Food Products for Rs 131 crore.

• Oberoi Realty: The company approved the issuance of NCDs of an aggregate amount of up to Rs 1,500 crore.

• Oriana Power: The company received a 75 MW solar plant order for Rs 375 crore.

• Capri Global Capital: The board will raise Rs 1,000 crores via NCDs on Oct. 29.

• RVNL: The company emerged as the lowest bidder for a project worth Rs 270 crore from Maharashtra Metro Rail Corp.

• Railtel Corporation of India: The company receives three orders worth Rs 87.2 crore.

• Ircon International: The company signed a MoU with Patel Engineering for infrastructure projects in India and overseas.

• Kolte-Patil Developers: The company in its second quarter business update reported sales up 22% at Rs 770 crore and collections grew by 16% year-on-year at Rs 550 crore.

• Aditya Birla Fashion and Retail: The company’s arm made an additional investment of Rs 75 crore in Wrogn, increasing its stake from 17.10% to 32.84%.

• Hyundai Motor India: The public issue was subscribed to 0.42 times on day 2. There bids were led by reserved for employees (1.31 times), qualified institutional investors (0.58 times), retail investors (0.38 times), and non-institutional investors (0.26 times).

• Cellecor Gadgets: Varinder Bansal sold 13.68 lakh shares at Rs 71.8 per share.

• Titagarh Rail Systems: Morgan Stanley Asia Singapore Pte bought 7.63 lakh shares (0.56%) at Rs 1,120 apiece, while Smallcap World Fund Inc. sold 7.9 lakh shares (0.58%) at Rs 1,120.12 apiece.

• Lloyds Metals and Energy: Promoter Thriveni Earthmovers revoked a pledge for 6.57 lakh shares on Oct. 14.

• Price band changes from 20% to 10%: Neuland Laboratories, Aditya Birla Money.

• Moved out short term ASM: Premier Polyfilm.

• Nifty October futures down by 0.34% to 25,048 at a premium 77 points.

• Nifty October futures open interest up by 0.85%.

• Nifty Bank October futures down by 0.16% to 52,042 at a premium of 241 points.

• Nifty Bank October futures open interest down 0.63%.

• Nifty Options Oct. 17 Expiry: Maximum call open interest at 25,500 and maximum put open interest at 24,500. 

• Bank Nifty Options Oct. 23 Expiry: Maximum call open interest at 52,000 and maximum put open interest at 49,000.

• Securities in ban period: Bandhan Bank, Chambal Fertilizers, GNFC, Granules, Hindustan Copper, IDFC First Bank, IEX, Manappuram, National Aluminium, PNB, RBL Bank, Sail, Tata Chemical.

The Indian rupee closed 4 paise stronger on Wednesday as relentless intervention by the Reserve Bank of India offset the impact from consistent selling of stocks by foreign investors.

The rupee closed at Rs 84 against the US dollar, according to Bloomberg data. The currency had closed at Rs 84.04 against the greenback on Tuesday.

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