Important Information For October 11 Stock Trading Strategy

The Indian equity benchmarks are likely to open lower on Tuesday as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures declined 0.19 per cent or 33 points to 17,195 amid weak global cues.

Here are key things to know before market opens on Tuesday:

Asian Markets

Most of the Asian markets were trading lower with Japan's Nikkei down 2.5 per cent, Hong Kong's Hang Seng dropped 1.37 per cent, Taiwan Weighted fell 3.6 per cent and South Korea's KOSPI declined 2.43 per cent

US Markets

Wall Street added to its recent string of losses Monday, as stocks fell ahead of a busy week of inflation updates and the start of corporate earnings reporting season.

The S&P 500 fell 0.7 per cent, extending its losing streak to a fourth day. The Dow Jones Industrial Average lost 0.3 per cent after wavering between small gains and losses, and the Nasdaq composite fell 1 per cent. The Dow and Nasdaq have also closed lower the past four trading days.

Small company stocks also fell, dragging the Russell 2000 index 0.6 per cent lower. U.S. bond trading was closed.

Major indexes are coming off a volatile week where they notched out gains because of an early two-day rally that shielded stocks from several weak days.

Wall Street has been turbulent amid worries about stubbornly hot inflation and the Federal Reserve’s plan to tame high prices by raising interest rates. The goal is to slow economic growth and cool both borrowing and spending in order to get inflation under control, but the plan risks sending the economy into a recession.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for November delivery fell $1.51 to $91.13 a barrel Monday. Brent crude for December delivery fell $1.73 to $96.19 a barrel.

Gold for December delivery fell $34.10 to $1,675.20 an ounce. Silver for December delivery fell 65 cents to $19.61 an ounce and December copper rose 4 cents to $3.43 a pound.

The dollar rose to 145.73 Japanese yen from 145.36 yen. The euro fell to 97.07 cents from 97.37 cents.

Foreign Flows

Foreign institutional investors sold shares worth Rs 2,139 crore on Monday while domestic institutional investors bought shares worth Rs 2,137 crore.

Stocks In Focus

Infosys: IT major Infosys Ltd on Monday said its board would decide on a proposal for share buyback in its meeting to be held on Thursday.

The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on October 13, 2022, in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, Infosys said in a regulatory filing.

The board will finalise the company's second quarter results on October 13. 

AU Small Finance Bank: AU Small Finance Bank on Monday re-appointed former head of National Housing Bank (NHB) R V Verma as its non-executive chairman.

The decision was taken at its board meeting held on Monday, AU Small Finance Bank said in a regulatory filing.

The board approved the re-appointment of Raj Vikash Verma as part-time chairman of the bank with effect from April 8, 2023 till January 29, 2024 (that is, till completion of his tenure as independent director), it said.

Bajaj Auto: Bajaj Auto Ltd on Monday said it has bought back over 64 lakh shares from public shareholders for Rs 2,499.97 crore under its share buyback exercise.

The company, which had commenced the share buyback on July 4, 2022, said its Buyback Committee at its meeting held on Monday approved the completion and closure of the exercise from October 10, 2022.

In a regulatory filing, Bajaj Auto said it has bought back 64,09,662 equity shares, utilising an aggregate amount of Rs 2,499.97 crore.

TCS: Largest IT services exporter TCS on Monday reported an 8.4 per cent growth in its September quarter net profit at Rs 10,431 crore, crimped by a dent on margins.

The Tata group company, however, said the operating environment is "challenging" and warrants "vigilance", even though the headwinds posed by factors like recession in its biggest market US, rising inflation around the world and currency volatilities are yet to materialise into its order pipeline.