Important Information For October 18 Stock Trading Strategy

The Indian equity benchmarks are likely to open higher on Monday as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 0.82 per cent or 141 points to 17,456 amid positive global cues.

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

Asian Markets

Asia stocks nudged higher on Tuesday as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week as a revival in risk-taking lowered its appeal.

Britain's new finance minister Jeremy Hunt abandoned most of Prime Minister Liz Truss' economic plan that had led to a political maelstrom fuelled by market turmoil, with the pound hitting record lows in recent weeks and the Bank of England being forced to intervene, news agency Reuters reported.

Japan's Nikkei rose 0.8 per cent, South Korea's KOSPI rose 0.3 per cent, Singapore's Straits Times climbed 0.7 per cent and Taiwan Weighted advanced 0.4 per cent.

US Markets

Wall Street kicked off a busy week of corporate earnings with a broad rally Monday, the latest about-face for a market that has been unsteadily lurching between gains and losses in recent weeks.

The S&P 500 climbed 2.6 per cent, more than recovering the ground it lost in a sell-off Friday. The Dow Jones Industrial Average rose 1.9 per cent and the Nasdaq composite added 3.4 per cent.

Nearly all of the stocks in the benchmark S&P 500 index rose, with technology and communications companies among the biggest gainers. Apple climbed 2.9 per cent and Google’s parent company rose 3.7 per cent.

Bond yields eased back from their multiyear highs and took some pressure off of stocks. The yield on the 10-year Treasury, which influences mortgage rates, held steady at 4.02 per cent. The yield on the 2-year Treasury, which tends to track expectations for future Federal Reserve action, fell to 4.46 per cent from 4.50 per cent late Friday.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for November delivery fell 15 cents to $85.46 a barrel Monday. Brent crude for December delivery fell 1 cent to $91.62 a barrel.

Gold for December delivery rose $15.10 to $1,664 an ounce. Silver for December delivery rose 65 cents to $18.72 an ounce and December copper was unchanged at $3.42 a pound.

The dollar rose to 148.91 Japanese yen from 148.68 yen. The euro rose to 98.45 cents from 97.25 cents.

Foreign Flows

Foreign institutional investors sold shares worth Rs 372 crore on Monday while domestic institutional investors bought shares worth Rs 1,582 crore.

Stocks In Focus

V-Mart: Fashion retailer V-Mart Retail Ltd on Monday said it will acquire online marketplace LimeRoad, in a move which will help the company expand its presence in the omni-channel space.

The company has signed a "business transfer agreement with A M Marketplaces (LimeRoad) and certain other parties for the acquisition of its LimeRoad business as a going concern on a slump sale basis," said V-Mart Retail in a regulatory filing.

IRB Infra: IRB Invit Fund, the first listed infrastructure investment trust, on Monday announced the distribution of Rs 119 crore or Rs 2.05 per unit dividend to unitholders for the second quarter of the current fiscal.

The amount is 15 paise lower compared to the dividend paid in the year-ago period.

The trust said its revenue fell to Rs 203 crore in the reporting period from Rs 328 crore, pulling down the operating profit to Rs 164 crore from Rs 269 crore. However, toll collection went up 19 per cent and FASTag collections nearly doubled in the September quarter, clipping at 96 per cent.

Sugar Stocks: The country's sugar production is projected to be 36.5 million tonnes in the 2022-23 marketing season, an increase of 2 per cent compared to the year-ago period, industry body ISMA said on Monday.

The marketing season will be starting this month.

The production in India, the world's major producer of the sweetener, stood at 35.8 million tonnes during the 2021-22 marketing season.

SJVNL: State-owned SJVN on Monday said its arm SJVN Green Energy and Assam's power distribution company APDCL have inked a pact to form a joint venture to set up 1,000 MW floating solar projects worth Rs 6,000 crore in Assam.

Nand Lal Sharma, Chairman & Managing Director, SJVN, informed in a statement that a Memorandum of Understanding (MoU) has been signed between SJVN's wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) and APDCL (Assam Power Distribution Company Ltd) in Guwahati.