Tuesday, Nov 29, 2022

Important Information For October 3 Stock Trading Strategy

Foreign institutional investors sold shares worth Rs 1,565 crore on Friday while domestic institutional investors bought shares worth Rs 3,245 crore

The Indian equity benchmarks are set to open lower on Monday as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures declined 0.8 per cent or 133 points to 16,956.

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

Asian Markets

Most of the Asian markets were trading lower with Hong Kong's Hang Seng down 0.8 per cent, Taiwan Weighted down 0.5 per cent, Singapore's Straits Times fell 0.2 per cent while Japan's Nikkei rose 0.6 per cent.

US Markets

Wall Street closed out a miserable September with a loss of 9.3 per cent, the worst monthly decline since March 2020.

The S&P 500 fell 1.5 per cent Friday to its lowest level in almost two years. The benchmark index has lost ground for six of the last seven weeks and posted its third straight losing quarter.

Nike fell sharply after the company had to slash prices to clear inventories, while Carnival dropped following weaker-than-expected quarterly results.

On Friday:

The S&P 500 fell 54.85 points, or 1.5 per cent, to 3,585.62.

The Dow Jones Industrial Average fell 500.10 points, or 1.7 per cent, to 28,725.51

The Nasdaq fell 161.89 points, or 1.5 per cent, to 10,575.62.

The Russell 2000 index of smaller companies fell 10.21 points, or 0.6 per cent, to 1,664.72.

For the week:

The S&P 500 is down 107.61 points, or 2.9 per cent.

The Dow is down 864.90 points, or 2.9 per cent.

The Nasdaq is down 292.31 points, or 2.7 per cent.

The Russell 2000 is down 14.87 points, or 0.9 per cent.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for November delivery fell $1.74 to $79.49 a barrel Friday. Brent crude for November delivery fell 53 cents to $87.96 a barrel.

Gold for December delivery rose $3.40 to $1,672 an ounce. Silver for December delivery rose 33 cents to $19.04 an ounce and December copper fell 1 cent to $3.41 a pound.

The dollar rose to 144.78 Japanese yen from 144.43 yen. The euro rose to 98.09 from 97.90 cents.

Foreign Flows

Foreign institutional investors sold shares worth Rs 1,565 crore on Friday while domestic institutional investors bought shares worth Rs 3,245 crore.

September GST Collections

GST collections remained above Rs 1.40 lakh crore for the seventh month in a row at Rs 1.47 lakh crore in September, a 26 per cent increase over last year, reflecting buoyancy in tax collection and stability of the GST portal, the finance ministry said on Saturday.

With the ongoing festive season, the collections are expected to go up in the coming months, experts said.

Stocks In Focus

Tata Motors: Tata Motors on Saturday said its total domestic sales increased by 44 per cent to 80,633 units in September.

The company had dispatched 55,988 units to dealers in September 2021.

The Mumbai-based automaker reported an 85 per cent increase in its total domestic passenger vehicle dispatches at 47,654 units last month against 25,730 units in September 2021.

Reliance Industries, Vodafone Idea, Bharti Airtel: Prime Minister Narendra Modi on Saturday launched the 5G telephony services that promise to provide ultra high-speed internet on mobile phones, saying it marks the beginning of a new era and presents a sea of opportunities.

The Prime Minister launched 5G services in select cities at the India Mobile Congress (IMC) 2022 conference. The services will progressively cover the entire country over the next couple of years.

Suzlon Energy: Suzlon Energy Ltd. founder and chairman Tulsi Tanti passed away on Sunday following a cardiac arrest.

Tanti spearheaded the wind revolution in India with the founding of Suzlon Energy in 1995.

Hero MotoCorp: Hero MotoCorp on Saturday reported a 1.95 per cent decline in total sales to 5,19,980 units in September 2022.

The company had sold 5,30,346 units in the same month last year, Hero MotoCorp said in a statement.

Domestic sales were higher last month at 5,07,690 units compared to 5,05,462 units in September 2021.

TVS Motor Company: TVS Motor Company on Saturday reported a 9 per cent increase in total sales at 3,79,011 units in September.

The company had sold a total of 3,47,156 units in September last year, TVS Motor Company said in a statement.

Maruti Suzuki: The country's largest carmaker Maruti Suzuki India on Saturday reported a two-fold increase in total wholesales to 1,76,306 units in September.

Hit by a massive shortage of electronic components, the company managed to dispatch 86,380 units in September 2021.

Last month, the company's domestic sales rose over two-fold to 1,54,903 units against 68,815 units in September 2021, Maruti Suzuki India (MSI) said in a statement.

Sales of mini cars, comprising Alto and S-Presso, rose to 29,574 units compared to 14,936 in the same month last year.