Indian indices could open lower on Friday. All eyes will be on the September Manufacturing PMI later today. Asian stocks started October on the decline, after their US peers capped their biggest monthly selloff since March 2020 with further losses.
Before the market opens
Before the market opened, the Sensex was at 58,889.48, down 236.88 points, or 0.40%, while Nifty was at 17,618.15, down 93.15 or 0.53 %.
IRCTC sets record date for stock split
Indian Railway Catering & Tourism Corporation (IRCTC) has announced the registration date for its proposed share split. The company has set October 29, 2021 as its registration date for the subdivision of the capital shares of ??10 each in five equity shares of ??2 each. (Read here)
Maruti Suzuki abandons diesel plans and steps up green driving: report
Maruti Suzuki has scrapped diesel plans and stepped up green driving due to consumers’ shift in preference to gasoline, Reuters reported citing news reports.
Pre-market quote: Gaurav Udani, CEO and Founder, ThincRedBlu Securities
“Nifty should open negatively at 17430, down nearly 200 points. Nifty opens below support, this is a bearish sign. Nifty now has support in 17250-17300 and will face resistance in the range. range 17600-17620. Traders can consider buying troughs with a strict stop-loss as a strategy as long as Nifty is trading above 17250. “
The price of gasoline increased by 24-25 paise, diesel by 30-32 paise: report
The price of gasoline was increased by 24-25 paise and that of diesel by 30-32 paise on Friday. The price of gasoline in Delhi is ??101.89 and diesel at ??90.17 per liter, according to a report. In Mumbai, gasoline is ??107.95 and diesel at ??97.84 per liter, he added. In addition, the price of jet fuel (ATF) has increased by ??3,972.94 to ??72,582.16 / kL in Delhi
Asian factories stagnate as China’s slowdown and supply constraints kick in
Asia’s manufacturing activity was lackluster in September as signs of slowing Chinese growth and factory closures caused by the coronavirus pandemic weighed on the region’s economies, surveys showed Friday. Plant activity in September declined in Malaysia and Vietnam, and increased in Japan at the slowest pace in seven months, as chip shortages and supply disruptions added to one region’s woes who is still struggling to get rid of the pandemic blow. China’s declining economic momentum has dealt a further blow, with the official purchasing managers index (PMI) showing on Thursday that the country’s factory activity unexpectedly declined in September due to the larger reduction of electricity consumption.
SGX Nifty loses 173 points
Actions to watch
Bank of India, Airtel, Cadila, FRL, Zee, Maruti Suzuki, among other stocks, could make the news today. (Read more)
India posts larger than expected current account surplus
India’s current account turned in surplus in the last quarter, thanks to strong services exports and a tighter trade deficit. The current account, the largest measure of foreign trade, posted a surplus of $ 6.5 billion, or 0.9 percent of gross domestic product, in the three months ended June, the Reserve Bank said Thursday. from India in a statement. The median in a Bloomberg survey of 11 economists was for a surplus of $ 2 billion. The account was in deficit of $ 8.1 billion during the period January to March, while it was in surplus of $ 19 billion, or 3.7% of GDP, during the comparable period of the previous year. (Bloomberg)
Markets could remain under pressure on Friday as SGX Nifty trends point to weak opening in Indian benchmarks. On Thursday, the BSE Sensex closed at 59,126.36, down 286.91 points or 0.48% and the Nifty finished at 17,618.15, down 93.15 points or 0.53%. (Read here)
Cryptocurrency prices today: Bitcoin, ether, dogecoin, cardano gain. Latest prices here
Today, cryptocurrency prices continued to advance slightly. The price of Bitcoin jumped nearly 2% to $ 43,842. The world’s largest cryptocurrency by market cap is up 51% this year (YTD), and well below its all-time high of nearly $ 65,000 it hit in April, as it made subject to regulatory crackdowns in the third quarter. (Read here)
Ola Electric raises more than $ 200 million
Ola Electric Mobility Pvt. Ltd. has raised more than $ 200 million in a round led by SoftBank and Falcon Edge, among others, to a valuation of $ 3 billion, bolstering its plans to enter new vehicle classes. (Read here)
Allianz Chief Asset Management Officer Jacqueline Hunt steps down from Board of Directors
Allianz chief asset management officer Jacqueline Hunt is stepping down from the board, the company said in a statement on Thursday, after a scandal over billions of dollars in hedge fund losses led to a restructuring of the management of the company. (Reuters)
MEIL plans a debt of 20,000 yen to finance the acquisition of PSU
Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) plans to borrow up to ??20,000 crore to fund its planned acquisition of various public sector companies (PSUs), a senior executive said. (Read here)
Eight basic industries grow 11.6% yoy in August on weak basis
Eight basic infrastructure industries recorded an 11.6% increase in output in August, capitalizing on a weak base from the previous year and continuing the strong growth that began in March. (Read here)
Non-resident net claims fall to $ 327 billion at end-June: RBI
Asian stocks open lower
Asian stocks started October on the decline, after their US peers capped their biggest monthly selloff since March 2020 with further losses. Stocks fell in Japan and Australia, while US futures fluctuated in early Asian exchanges. China begins a week’s holiday and the Hong Kong market is closed on Friday. U.S. benchmarks fell on Thursday even after confirmation that the House passed a nine-week spending bill to avoid a U.S. government shutdown. The S&P 500 closed at the lowest level since July, extending its September losses to nearly 5%. Economically sensitive companies such as industrials and financials were among the worst performers.
Futures on the S&P 500 rose 0.1% at 9:52 a.m. in Tokyo. The S&P 500 fell 1.2% on Thursday.
Topix fell 1%.
The S & P / ASX 200 fell 1.7%.
SGX Nifty is down 0.65%
S&P braces for worst quarter since pandemic
Volatility continued to disrupt risky assets, with US stocks on track for their worst quarter since the start of the pandemic. Stocks briefly cut losses after the Senate passed an interim spending bill to avoid a government shutdown, a risk among a litany of risks to the markets. Traders are also bracing for the Federal Reserve to cut its stimulus measures amid mounting fears over slowing economic growth, high inflation, supply chain bottlenecks, a global energy crisis. and regulatory risks emanating from China.
The S&P 500 fell 0.5% at 3:04 p.m. New York time
The Nasdaq 100 rose 0.2%
The Dow Jones Industrial Average fell 1%
The MSCI World index fell 0.2%
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