Important Information For October 28 Stock Trading Strategy

The Indian equity benchmarks are likely to open higher on Friday as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 0.33 per cent or 59 points to 17,861 amid mixed global cues.

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

Asian Markets

Asian equities edged lower on Friday as investors grappled with mixed earnings reports, while the Japanese yen held firm ahead of the Bank of Japan's policy review.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.32 per cent, set to snap a three-day winning streak. The index is down nearly 3 per cent for the month and 30 per cent for the year.

Japan's Nikkei fell 1.33 per cent, while Australia's S&P/ASX 200 index lost 0.55 per cent. China's stock market was 0.60 per cent lower, with Hong Kong's Hang Seng Index down 0.5 per cent.

US Markets

Wall Street delivered another mixed finish for stocks Thursday, as disappointing quarterly results from several big tech companies offset gains elsewhere in the market.

The S&P 500 fell 0.6 per cent, with about 44 per cent of stocks within the benchmark index losing ground. The tech-heavy Nasdaq fell 1.6 per cent, while the Dow Jones Industrial Average rose 0.6 per cent.

Facebook’s parent company, Meta Platforms, plummeted 24.6 per cent for the biggest drop in the S&P 500 after reporting a second straight quarter of revenue decline amid falling advertising sales and stiff competition from TikTok. It joined other tech and communications stocks, such as Google’s parent company, Alphabet, and Microsoft, in reporting weak results and worrisome forecasts over advertising demand. Alphabet fell 2.9 per cent and Microsoft slid 2 per cent.

Amazon slid 19 per cent in after-hours trading after the retail giant issued an estimate for sales in the last quarter of the year came in well below analysts’ forecasts. The stock fell 4.1 per cent in regular trading before the release of its latest quarterly results.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for December delivery rose $1.17 to $89.08 a barrel Thursday. Brent crude for December delivery rose $1.27 to $96.96 a barrel.

Gold for December delivery fell $3.60 to $1,665.60 an ounce. Silver for December delivery was unchanged at $19.49 an ounce and December copper fell 3 cents to $3.52 a pound.

The dollar remained unchanged at 146.26 Japanese yen. The euro fell to 99.64 cents from $1.0080.

Foreign Flows

Foreign institutional investors bought shares worth Rs 2,818 crore on Thursday while domestic institutional investors sold shares worth Rs 1,580 crore.

Stocks In Focus

SBI Cards: SBI Cards and Payment Services Ltd (SBI Card) on Thursday reported a 52 per cent jump in its net profit to Rs 526 crore for the quarter ended September on higher income.

The pure-play credit card company promoted by the country's largest lender State Bank of India (SBI) had reported a net profit of Rs 345 crore in the previous quarter a year earlier.

Maruti Suzuki: The country's largest car maker will be in focus as it will report its September quarter earnings later in the day.

IFCI:  Long-term infrastructure financier IFCI Ltd on Thursday raised Rs 100 crore through preferential allotment of shares to the government.

The Committee of Directors at its meeting held on October 27 has allotted 9,29,36,802 number of equity shares at a price of 10.76 each including a premium of Rs 0.76 each share to the Government of India, IFCI said in a regulatory filing.

Indus Tower: Telecom infrastructure company Indus Towers on Thursday reported about 44 per cent fall in its consolidated net profit for September quarter at Rs 872 crore, and said profits remained under pressure due to collection challenges from one of the major customers.

The second quarter consolidated revenue at Rs 7,967 crore was up 16 per cent during the same period previous year.

The consolidated profit after tax at Rs 872 crore was down 44 per cent from the year-ago period. Its net profit was at Rs 1,559 crore in Q2FY22.

SpiceJet: SpiceJet has received aviation regulator DGCA's approval for wet leasing five Boeing 737 Max planes for up to six months and the airline has already deployed two of the aircraft on different routes, according to sources.

The approval for taking the planes on wet lease was given by the Directorate General of Civil Aviation (DGCA) earlier this month.

The sources said the remaining three aircraft will be inducted into SpiceJet fleet in the coming weeks.

Aditya Birla Sun Life AMC: Aditya Birla Sun Life AMC on Thursday reported an 11 per cent rise in profit after tax (PAT) to Rs 191.68 crore for the September 2022 quarter.

The company had posted a PAT of Rs 173.07 crore in the same quarter of the preceding fiscal, the fund house said in a regulatory filing.

Its total revenue rose to Rs 387.66 crore in the period under review from Rs 372.2 crore a year ago.

PNB Housing Finance: PNB Housing Finance on Thursday registered nearly 12 per cent increase in its net profit at Rs 262.63 crore in quarter ended September 2022 on a double-digit growth in net interest income as well as disbursements.

The non-banking finance company had logged a net profit of Rs 235.21 crore in the year-ago period.

Total income rose to Rs 1,683.43 crore in Q2FY23 from Rs 1,586.41 crore in the same period of 2021-22, PNB Housing Finance said in a regulatory filing.

The income earned from interest was up by 6.5 per cent in the quarter to Rs 1,597.54 crore as against Rs 1,499.88 crore in the year-ago period.