Important Information For October 20 Stock Trading Strategy

The Indian equity benchmarks are likely to open lower on Thursday as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 0.87 per cent or 152 points to 17,352 amid weak global cues.

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

Asian Markets

Most of the Asian markets were trading lower with Japan's Nikkei down1.23 per cent, South Korea's KOSPI fell 1.42 per cent, Singapore's Straits Times declined 0.1 per cent and Taiwan Weighted fell 2 per cent.

US Markets

Stocks closed lower on Wall Street, reversing course after two days of gains.

Major indexes are still higher for the week despite the declines, which pulled every sector lower except energy. Treasury yields continue to climb to multiyear highs, tempting investors with higher returns on relatively low-risk investments.

The yield on the two-year Treasury rose above 4.5 per cent and is at its highest level since August 2007.

Several companies fell after reporting disappointing results including backup generator maker Generac and M&T Bank. Small-company stocks fell more than the rest of the market.

On Wednesday:

The S&P 500 fell 24.82 points, or 0.7 per cent, to 3,695.16.

The Dow Jones Industrial Average fell 99.99 points, or 0.3 per cent, to 30,423.81.

The Nasdaq fell 91.89 points, or 0.9 per cent, to 10,680.51.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for November delivery rose $2.73 to $85.55 a barrel Wednesday. Brent crude for December delivery rose $2.38 to $92.41 a barrel.

Gold for December delivery fell $21.60 to $1,634.20 an ounce. Silver for December delivery fell 24 cents to $18.36 an ounce and December copper fell 4 cents to $3.32 a pound.

The dollar rose to 149.90 Japanese yen from 149.21 yen. The euro fell to 97.68 cents from 98.50 cents.

Foreign Flows

Foreign institutional investors sold shares worth Rs 454 crore on Wednesday while domestic institutional investors bought shares worth Rs 908 crore.

Stocks In Focus

Bharat Electronics: Electric vehicle maker Triton Electric Vehicle India has issued a letter of intent to defence public sector unit Bharat Electronics for the procurement of battery packs for its semi-truck project in India at an estimated value of Rs 8,060 crore, according to a regulatory filing.

The 300 kilowatt lithium-ion battery packs are to be delivered by Bharat Electronics (BEL) to Triton in 24 months commencing from January 2023, the filing stated.

"Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, USA today issued a letter of intent to Navaratna Defence PSU Bharat Electronics for procurement of 300 KW Li-Ion battery packs for its semi-truck project in India at an estimated value of Rs 8,060 crore," the filing said. 

IndusInd Bank: IndusInd Bank on Wednesday reported a 57 per cent jump in its September quarter net profit at Rs 1,805 crore, helped by a reduction in money set aside as provisions for potentially sour loans.

The private sector lender reported an 18 per cent growth in the core net interest income at Rs 4,302 crore on the back of an 18 per cent loan growth and the net interest margin widening to 4.24 per cent as against 4.07 per cent in the year-ago period.

Amid the 'war on deposits' in the system, the bank was able to grow its deposit book by 15 per cent during the second quarter of the current fiscal.

IIFL Wealth:  IIFL Wealth & Asset Management on Wednesday reported a 23 per cent growth in profit after tax (PAT) to Rs 173 crore for three months ended September 2022.

The company had posted a PAT of Rs 140 crore in the same quarter of the last fiscal, IIFL Wealth & Asset Management said in a statement.

IRB Infra Developers: IRB Infrastructure Developers on Wednesday said its Ganga Expressway Project has raised equity capital of Rs 533.20 crore.

The company in a statement said Singapore-based GIC Affiliates contributed Rs 261.29 crore and IRB Infra contributed Rs 271.90 crore.

Tata Motors: ata Motors on Wednesday said it has bagged an order for 2,000 XPRES T EVs from ride hailing platform Evera.

"Evera has been associated with us since a long time, and we are delighted to further strengthen this tie up, by signing an agreement of delivering 2,000 EVs to them," Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said in a statement.

Rallis India: The company on Wednesday reported a 25.88 per cent growth in profit after tax at Rs 71.05 crore in the September quarter compared to the year-ago period.

Its profit after tax stood at Rs 56.44 crore during the corresponding period of the previous fiscal, it said in a regulatory filing.

These figures are after taking into account the exceptional items.

The company's revenue from operations rose 30.69 per cent to Rs 951.18 crore in the second quarter of the current financial year. In the year-ago period, it stood at Rs 727.80 crore.

Havells India: Havells India Ltd on Wednesday reported a 38.15 per cent decline in its consolidated net profit to Rs 187.01 crore for the second quarter ended on September 30, 2022, as commodity inflation hit its margins.

The consumer electrical goods maker company had posted a consolidated net profit of Rs 302.39 crore in the July-September quarter a year ago, Havells said in a regulatory filing.