BSE and NSE will hold a one-hour special Muhurta trading session later today to mark the beginning of Samvat 2079 – the Hindu calendar year that begins with Diwali. One hour special trading session will be held between 6:15 PM to 7:15 PM. Trading will take place across different segments such as Equity, Commodity Derivatives, Currency Derivatives, Equity Futures & Options, and Securities Lending and Borrowing (SLB) in the same time slot. The exchanges will remain closed on October 26 on the occasion of Diwali Balipratipada.
Intraday positions will be squared off 10 minutes before market close: Zerodha
“No F&O credit (i.e. premium from sold options, mark-to-market profit, intraday profit, etc.) from October 21 and intraday equity profit from October 20 and 21 will not be included in the funds available during the Muhurta trading session. for settlement leave. In the meantime, you’ll be able to view these credits in your console ledger. All intraday positions will be squared off 10 minutes before market close. After Market Orders (AMOs) will be placed in Muhurta trading session till 5:57 PM for Equity and till 6:10 PM for F&O on October 24,” Zerodha said.
UK bonds surge on hopes of Sunak’s victory
UK bonds surged after Rishi Sunak emerged as the front-runner to become prime minister, a hopeful investor hope will restore credibility to economic policymaking and help calm the country’s turbulent markets. Will get Short-dated notes led the rally, reducing the yield on the two-year note by 41 basis points to 3.39%. Traders are also betting on the extent of interest rate hikes by the Bank of England. The result of the contest can be declared as soon as today, if Sunak emerges as the only candidate who gets enough support from MPs.
Bulls ready to celebrate Diwali: Santosh Meena
“Technically, Nifty is witnessing higher high and higher low formation after respecting its 200-DMA. On the upside, 17725 is an immediate hurdle; Above this, we can expect a rally towards the 17900-18000 zone. On the downside, 17400 is an immediate and strong support level while 17300-17200 is the next demand zone. As per the open interest distribution, 17500 will act as a prime put base before the monthly expiry,” said Santosh Meena, Head of Research, Swastika Investmart.
India’s performance is different: Geojito
“Even though Samvat 2078 ended with marginally negative returns, the overarching feature of the past year was India’s distinctive performance. While the MSCI World Index and MSCI Emerging Markets Index declined 23% and 33% respectively, the Nifty outperformed with only a marginal cut of 3%. This outperformance in a war year in Europe and rising inflation and interest rates in the developed world reflect India’s resilience. From a market perspective, two factors stand out: One, India’s economic fundamentals are relatively strong. Two, DIIs and retail investors have become a force to be reckoned with with a huge jump in FII sales. This trend can be expected to continue, said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global Market Updates: US stock futures rise marginally
US futures were slightly higher as Chinese stocks fell, while investors awaited the next batch of earnings from some of the world’s biggest companies. Treasury yields fell and the dollar rose. Contracts on the S&P 500 and Nasdaq 100 fluctuated before rising. US-listed Chinese stocks including Alibaba Group Holding Ltd to JD.com Inc fell in premarket trading, as investors panicked as President Xi Jinping’s grip on China’s ruling party tightened.
RIL to list financial services business
Jio Financial Services will be discontinued and listed in India, Reliance said in an exchange filing on Friday. It will lend to consumers and merchants based on proprietary data analytics and eventually branch out to insurance, payments, digital broking and asset management.
Expected financial performance in Samvat 2079: Geojito
“Financials are likely to lead the rally again as credit growth in the economy remains strong and continues to gain momentum. However, investors should remain cautious as there are bigger challenges ahead, notably rising interest rates and the unknown trajectory of the Ukraine war. ” VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said.
ICICI Bank may give 20% in 12 months: LKP Securities
“The earnings in 2QFY23 reaffirm our belief that ICICI Bank continues to maintain a sustainable and prudent growth led by technology-driven initiatives. We have a positive outlook on the bank with BUY rating,” said LKP Securities, which has a target price of Rs. 1,097 on stock.
CDSL’s net profit remained stable in Q2
Central Depository Services (India) Limited (CDSL), Asia’s first and only listed depository, announced its audited consolidated and standalone financial results for the half year ended September 30, 2022. The total income increased by 20%. 298 crore for the period of six months while the net profit increased to Rs. 158 crores. On a quarterly basis, net profit was flat though 69 crores.
Global sentiment remains dominant in short holiday week: Analyst
Last week Nifty ended at 17,576 but SGX Nifty futures pointed towards a sharp gap later today. SGX Nifty futures were trading sharply above Friday’s close and were near 17850. Vinod Nair, Head of Research, Geojit said, “Since there are no major triggers for this week, market direction will be based on global sentiment and earnings season.” financial Services.
Banks, capital goods stocks may do better in Samvat 2079: Nilesh Shah
“Samvat 2079 is likely to be like Diwali. Celebrations will be celebrated with loud bursting of firecrackers. The busts of Ukraine, US Fed rate, oil, inflation and China’s zero covid policy will continue,” said Nilesh Shah, Group Chairman and MD Kotak Mahindra Asset Management Company said. Banks, capital goods, manufacturing are expected to outperform the market in Samvat 2079. Also, technology and pharma reforms will provide interesting opportunities on a bottom-up basis, he said.
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