Zee Business Stock, Trading Guide: 10 things to know before market opens on 17 October 2022

Zee Business Stock, Trading Guide: The domestic equity markets witnessed a decent surge on Friday and gained nearly a percent. Strong recovery in the global indices combined with upbeat earnings triggered a gap-up start in Nifty however profit taking in the latter half trimmed the gains.

The Nifty50 settled at 17,185 levels, up by 1.01 per cent, and Sensex at 57,919, down 1.2 per cent on Friday. Among the sectors, banking, financials and IT contributed the maximum while realty, energy, and auto were on the back foot.

Markets have been consolidating for the last two weeks amid mixed cues and we expect this to end soon, Ajit Mishra, VP - Research, Religare Broking said. “Participants should maintain their focus on sectors and stocks which are showing resilience despite the prevailing uncertainty and utilise this phase to accumulate them.”

Despite the smart gains on Friday, the Nifty index couldn’t close above its previous week’s range and ended 0.74 lower and trading in a range of 16800-17350 amid volatility for the last three weeks, Apurva Sheth, Head of Market Perspectives, Samco Securities said in her comment.

Here is a list of things to watch out for on 06 October 2022

Technical Outlook

The candles for the last three weeks are having tall wicks on both ends which indicates indecision among the traders due to volatility, Sheth added. “Follow-up buying is expected as we have sustained above 17100 levels today which could take us towards 17500 levels soon. On the lower side, 16800 will act as an important support in the coming trading sessions.”

Key support & resistance levels for Nifty50:

The Nifty50 closed 1.01 per cent higher at 17,185.70. Key Pivot points (Fibonacci) support for the index is placed at 17166, 17124, and 17055 while resistance is placed at 17303, 17345, and 17413.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 1.76 per cent higher at 39,305.60. Key Pivot points (Fibonacci) support for the index is placed at 39214, 39126, and 38983 while resistance is placed at 39500, 39589, and 39732.

Gross Open Interest:

Open Interest means the number of contracts open or outstanding in futures trading in NSE at any one time. One seller and one buyer together create one contract.

Here the gross values of Open Interest Positions taken by the four participants namely Client are Clients are the retail individual investors who invest in the derivatives instruments, DIIs are domestic individual investors, FIIs are foreign institutional investors and Pro are the proprietors and brokerage firms who trade on their own behalf.

Image Source – Stockedge

Stocks in News:

IRDAI increases penalty on Max Life Insurance and Axis Bank in Max Life-Axis Bank deal – Penalty of Rs 3 cr on Max Life and Rs 2 cr On Axis Bank.

Max Financial Services: Company had taken appropriate approvals from its shareholders for cementing the long-term strategic partnership with Axis Bank. Max Life examining IRDAI Order & will take all appropriate actions in this regard.

Ahluwalia Contracts (India) secures order worth Rs 110.7 crore from Assam Government for additional #construction work of new medical college and hospital.

Dilip Buildcon gets project worth Rs 702.02 cr from Gujarat Metro Rail Corporation.

HDFC says NCLT asks co to hold shareholder meeting on Nov 25 for HDFC Bank merger nod

L&T Financial Services: Got SEBI nod for 100% sale of L&T AMC & L&T MF to HSBC AMC

IRB Infra: To transfer Vadodara Road project to InvIT arm; to transfer Vadodara road project for Rs 340 cr.

SBI to hike MCLR by 25 bps across tenures and retail term deposits by 10-20 bps from Oct 15.

Narayana Hrudayalaya in pact to buy ENT in Cayman for $ 5 million; the acquisition will enable #HCCI to expand its healthcare business in Cayman Island into ENT specialty.

NBCC India gets Rs 162 cr total business in September

Q2 Earnings

HDFC Bank reports strong standalone Q2 earnings: Net profit up 20 per cent YoY to Rs 10,605.8 cr and Loan growth at 19 per cent YoY.

Shree Cement reports Q2 earnings: standalone net profit down 67.2 per cent YoY at Rs 189.6 cr.

Bajaj Auto reports Q2 earnings: Consolidated net profit down 15.7 per cent YoY at Rs 1,719.4 cr.

Avenue Supermarts reports Q2 earnings: Net profit up 64.1 per cent YoY to Rs 685.8 cr and Revenue up 36.6 per cent YoY to Rs 10,638.3 cr.

Just Dial Q2: Net Profit up 58.6 per cent YoY at Rs 52.2 cr and revenue up 31.6 per cent YoY at Rs 205.3 cr.

Tata Elxsi reports Q2 earnings: Net profit up 39.3 per cent YoY at Rs 174.2 cr and revenue up 28.2 per cent YoY at Rs 763.2 cr.

ICICI Prudential Life Insurance reports Q2 earnings: Value of new business up 20.6 per cent to Rs 621 cr versus Rs 515 cr YoY and APE up 1.1 per cent to Rs 1,999 cr against Rs 1,977 cr YoY.

GTPL Hathway reports healthy consolidated Q2 earnings: Net profit up 4.2 per cent to Rs 44.8 crore versus Rs 43 cr YoY and revenue up 9.9 per cent to Rs 654.9 cr from Rs 595.9 cr YoY.

Butterfly Gandhimathi Appliances reports Q2 earnings: net profit down 1.3 per cent YoY to Rs 25.1 cr and Revenue down 5.1 per cent YoY at Rs 367.8 cr.

L&T Infotech reports healthy consolidated Q2 earnings: Net profit up 7.2 per cent QoQ to Rs 679.8 cr and constant currency revenue growth at 4.6 per cent QoQ.

Kesoram Industries reports Q2 earnings: Net loss of Rs 59.1 cr and revenue down 0.3 per cent YoY to Rs 845.3 cr.

FII Activity on Friday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 1,011.23 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1,624.13 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

BLS Intl Servs Ltd: Renowned investor Shankar Sharma bought 11,50,000 equity shares in the company at the weighted average price Rs 275 per share on the NSE, the bulk deals data showed.

Focus Lightg: Purvi Prabhatchandra Jain bought 55,330 equity shares in the company at the weighted average price Rs 166.37 per share on the NSE, the bulk deals data showed.

National Highw Infra Trus: Ask Financial Holdings Private Limited bought 54,00,000 equity shares in the company at the weighted average price Rs 109.73 per share on the NSE, the bulk deals data showed.

Frog Cellsat Limited: Rajasthan Global Securities Pvt Ltd sold 78,000 equity shares in the company at the weighted average price Rs 194 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Delta Corp, Indiabulls Housing Finance and India Cement are placed under the F&O ban for Thursday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.