Important Information For September 27 Stock Trading Strategy

The Indian equity benchmarks are set to open higher on Tuesday as indicated by the Nifty Futures traded on Singapore Exchange despite weak global cues. Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 0.3 per cent or 51 points to 17,071.

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

Asian Markets

Most of the Asian markets were trading lower with Singapore’s Straits Times down 0.64 per cent, Taiwan Weighted fell 0.05 per cent, Hang Seng declined 0.15 while Japan’s Nikkei rose nearly 1 per cent.

US Markets

The Dow Jones Industrial Average became the last of the major U.S. stock indexes to fall into what’s known as a bear market Monday as the market deepened its slump amid growing fears of a global recession.

The blue chip index fell 1.1 per cent, while the S&P 500 closed 1 per cent lower and the Nasdaq dropped 0.6 per cent as the indexes extended their losing streak to a fifth day.

The British pound dropped to an all-time low against the dollar and investors continued to dump British government bonds in displeasure over a sweeping tax cut plan announced in London last week.

Markets in Europe closed mostly lower. The head of the European Central Bank warned that the economic outlook “is darkening” as high energy and food prices pushed up by the war in Ukraine sap consumer spending power. France, the EU’s second-biggest economy, forecast a substantial slowdown in economic growth next year.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for November delivery fell $2.03 to $76.71 a barrel Monday. Brent crude for November delivery fell $2.09 to $84.06 a barrel.

Wholesale gasoline for October delivery was unchanged at $2.38 a gallon. October heating oil fell 11 cents to $3.13 a gallon. October natural gas rose 7 cents to $6.90 per 1,000 cubic feet.

Gold for December delivery fell $22.20 to $1,633.40 an ounce. Silver for December delivery fell 43 cents to $18.48 an ounce and December copper fell 5 cents to $3.29 a pound.

The dollar rose to 144.72 Japanese yen from 143.40 yen. The euro fell to 96.12 cents from 96.75 cents.

Foreign Flows

Foreign institutional investors sold shares worth Rs 5,101 crore on Monday while domestic institutional investors bought shares worth Rs 3,532 crore.

Stocks In Focus

Mastek: Small Cap World Fund on Monday acquired software company Mastek Ltd's shares worth over Rs 96 crore through an open market transaction.

According to bulk deal data available with BSE, SmallCap World Fund Inc purchased 5,49,676 shares of the company, amounting to a 1.82 per cent stake in the firm.

The shares were bought at an average price of Rs 1,759.97 apiece, taking the transaction value to Rs 96.74 crore.

Bharti Airtel: Bharti Airtel has entered the home surveillance business with the launch of service in 40 cities, including Mumbai, Delhi-NCR, Bengaluru, Chennai and Kolkata, the company said on Monday.

The company will charge Rs 999 per year for the first camera and Rs 699 per year for add-on camera, besides one time product and installation cost.

"We constantly listen to our customers and post-pandemic a lot of them have expressed concerns about the well-being of their loved ones while they are away from home. Xsafe is an end-to-end home surveillance solution that allows customers to keep an eye on their loved ones. It will also allow them to talk to those at home from wherever they are through a two-way communication system in the camera," Bharti Airtel - Homes, CEO, Vir Inder Nath said in a statement.

Amara Raja Batteries: Amara Raja Batteries on Monday said it has proposed a transaction to integrate the battery plastic component business of Mangal Industries into its fold through a scheme of arrangement.

The process involves the demerger of Mangal Industries' plastics component battery business with the company, Amara Raja Batteries said in a statement.

Mangal Industries caters exclusively to Amara Raja, providing it with plastic containers, covers, small parts, handles and jars that are used in batteries, it added.

Axis Bank: The rise in income in semi-urban and rural markets provides a great opportunity to the banking industry, and Axis Bank is aiming to capture a greater share in the country's credit card market, a top company official said on Monday. 

India is witnessing rapid growth in consumer spending and by 2026, it is expected that two out of every three transactions will be via digital modes of payments, Axis Bank Managing Director and Chief Executive Officer Amitabh Chaudhry said here