Stock Market Today: All You Need To Know Going Into Trade On Oct. 3

Among other Asian indices open Thursday, Japan's Nikkei was trading more than 2% higher at 6:40 a.m. after yen weakened following new Prime Minister Shigeru Ishiba's dovish comments and Australia's S&P ASX 200 traded 0.1% up.

US equity indices ended with little gains after latest strong job numbers weakened the hopes for a second big rate cut by the Federal Reserve. The S&P 500 and Nasdaq Composite climbed 0.01% and 0.08%, respectively. The Dow Jones Industrial Average advanced by 0.09%

Brent crude was trading 1% higher at $74.65 a barrel at 6:46 a.m., rising for the third day in a row as tensions escalated in Middle East. Gold was higher by 0.3% at $2,677.80 an ounce. GIFT Nifty was at 25,767.50 down by 45 points or 0.2% as of 6:46 a.m.

The Indian benchmark equity indices extended their fall to a third session on Tuesday as shares of heavyweights Reliance Industries and HDFC Bank weighed on them. The Nifty ended 0.05% or 13 points lower at 25,796.90 and the Sensex closed 0.04% or 33.49 points lower at 84,266.29. Domestic markets were closed on Wednesday on account of Gandhi Jayanti.

Overseas investors remained net sellers of Indian equities for the third consecutive session on Tuesday.

Foreign portfolio investors offloaded stocks worth Rs 5,579.4 crore; domestic institutional investors stayed net buyers for the seventh straight session and purchased equities worth Rs 4,609.6 crore, the NSE data showed.

The Indian rupee weakened by 2 paise to close at 83.82 against the US dollar.

• BSE, Angel One, IIFL Securities, 5Paisa will be in focus as SEBI has increased the contract sizes in index derivatives to 15 lakhs from 10 lakhs currently. A larger contract size will require more margins, thereby reducing the ability to take larger leveraged positions. On the other hand, weekly options expiries are now curtailed to one per exchange, which means each exchange will provide derivatives contracts for only one of its benchmark indices with a weekly expiry against two to four weekly options expiries offered currently. This will affect loss of revenues for exchanges and brokers.

• Hero MotoCorp: The company has reported motorcycle sales of 5.97 lakh units, marking a 21% year-on-year increase. Scooter sales stood at 39,521 units, reflecting a 6% decline compared to the previous year. Domestic sales reached 6.16 lakh units, up by 19% year-on-year, while exports rose by 22%, totalling 20,344 units for the month of September.

• Maruti Suzuki India: The company's total sales reached 1.84 lakh units in September, reflecting a year-on-year increase of 1.9%. Domestic sales stood at 1.57 lakh units, a decline of 1.2% compared to the previous year, while exports totalled 27,728 units, marking a 23% year-on-year increase.

• Dabur India: According to the company's quarterly update, it expects to see a negative impact on consumer offtake in the second quarter due to heavy rains and floods across the country, particularly affecting the beverage category. As a result, the company anticipates a mid-single-digit decline in consolidated revenue and expects operating margins to decrease in the mid- to high teens range.

• Marico: The domestic business of the company posted mid-single digit volume growth, showing sequential improvement in the September quarter. International business saw low-teen growth in constant currency terms.

• HDFC Bank: The company has incorporated HDFC Securities IFSC at GIFT City.

• Aurobindo Pharma: The company has received US FDA approval for cephalexin tablets. Cephalexin tablets are used to treat infections caused by microorganisms.

• CSB Bank: In its quarterly business update, the company reported a total deposit of Rs 31,841 crore, representing a 25% year-on-year growth. The bank's gross advances reached Rs 26,871 crore, reflecting a 20% increase compared to the previous year.

• ITC: The company's unit, ITC Infotech, acquired Blazeclan Technologies for Rs 485 crore.

• Coal India: The company has reported production at 50.9 million metric tonnes, down 1% year-on-year and sales at 54.4 million metric tonnes, down 1.4% YoY.

• Allcargo Terminals: The company has approved the acquisition of a 7.6% stake in Haryana Orbital, currently held by Allcargo Logistics, for Rs 115 crore.

• Zuari Industries: The company has acquired a 50% stake in Forte Furniture from JV Partner Fabryki Mebli Forte.

• Man Infraconstruction: The company has received the commencement certificate for the Vile Parle Project in Mumbai. The project has a total estimated sale potential of over Rs 1,200 crore.

• NMDC: The company has reported production of iron ore for the month of September at 3.04 MT and sales at 3.54 MT.

• Ujjivan Small Finance Bank: The company has received authorised dealer category one license from Reserve Bank of India.

• SMS Pharmaceuticals: The company has received European drug regulator's nod to supply Ibuprofen in Europe.

• Paras Defence and Space Technologies: The company has opened QIP and sets the floor price at Rs 1,096 per share.

• GE Power India: The company has received an order worth Rs 21 crore from MP Power Generating for the supply of boiler parts.

• Tata Power Co.: The company has successfully completed the amalgamation of its subsidiary, Tata Power Renewable Energy, with its wholly owned subsidiaries. The amalgamation has been approved and sanctioned by the NCLT and will be effective from Oct. 1, 2024.

• South Indian Bank: The company has reported gross advances at Rs 84,741 crore, up 13% year-on-year. Its total deposits are at Rs 1.05 lakh crore, up 8.62%, while CASA is at Rs 33,583 crore, up 8% and the CASA ratio is at 31.85% for the month of September.

• Reliance Infrastructure: The company will raise Rs 2,930 crore via foreign currency bonds.

• Puravankara: The company has announced the Purva Home Fest 2024 in Mumbai and Pune.

• Trent: The company has incorporated a wholly owned subsidiary named “Trent Foundation,"  a not-for-profit public limited company.

• KRN Heat Exchanger: The company's shares will debut on the stock exchanges on Thursday. The Rs 341.95-crore IPO has been subscribed 214.42 times on the final day. The bids were led by non-institutional investors (431.63 times), qualified institutional investors (253.04 times) and retail investors (98.29 times).

• Jana small Finance Bank: Deepi Rupindersingh Arora bought 3.61 lakh shares (0.34%) at Rs 580.15 apiece, Par Solar sold 3.61 lakh shares (0.34%) at Rs 580.15 apiece.

• SpiceJet: Plutus Wealth Management LLP bought 75 lakh shares (0.95%) at Rs 66.7 apiece.

• Kilburn Engineering: Promoter Firstview Trading bought 50,000 shares on Sept. 30.

• GNA Axles: Promoter GNA Gears sold 26,200 shares between Sept. 18 to 27.

• Galaxy Surfactants: To meet analysts and investors on Oct. 7.

• Allcargo Logistics: To meet analysts and investors on Oct. 7.

• Price band change from 10% to 5%: Zee Media Corporation.

• Moved out short-term ASM: Dhanuka Realty, Crest Ventures.

• Moved in short-term ASM: Kamdhenu Ventures, Sequent Scientific.

• Nifty October futures down by 0.05% to 25,976.9 at no premium.

• Nifty October futures open interest down by 2.7%.

• Nifty Bank October futures down by 0.08% to 53,390 at a premium 468 points.

• Nifty Bank October futures open interest down 3%.

• Nifty Options Oct 3 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 23,050. 

• Bank Nifty Options Oct 1 Expiry: Maximum call open Interest at 53,000 and maximum put open interest at 52,900.

• Securities in ban period: Bandhan Bank, Birla Soft, Hindustan Copper, RBL Bank.

The Indian rupee closed slightly weaker on Tuesday, tracking the movement of the dollar index following Federal Reserve Chair Jerome Powell's slightly hawkish speech. However, easing oil prices limited the demand for the greenback.

The Indian currency depreciated 2 paise to close at Rs 83.82 against the US dollar. It had closed at Rs 83.80 on Monday, according to Bloomberg data.

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