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Here are some key events coming up this week:
Aavas Financiers’ IPO: Here’s All You Need To Know
JPMorgan on Hindustan Zinc
Maybank on Hexaware Tech
CLSA on Maruti
JPMorgan on Vedanta
UBS on Power Financing NBFCs
CIMB on Chemicals
Morgan Stanley
Credit Suisse
Goldman Sachs
JPMorgan
The rupee may accumulate losses further after the central bank kept its rates on hold on Friday, surprising the market. Implied opening from forwards suggest the pair may open around 73.91 a dollar, which is just a whisker away from 74.
Traders are expecting the rupee to further depreciate towards 75 amid difficult global and local conditions. So, a range of 73.85-74.30 a dollar is seen today.
Government bonds that staged a big rally after RBI's surprise decision to hold rates is closely watch the rupee market and the hardening yields in the U.S. market today.
Traders will likely consolidate at the current levels and yield on the 10-year note may trade in a range of 8-8.10 percent.
From top down approach India suffers most among emerging markets when oil prices rise, Nilesh Shah, MD of Kotak AMC told BloombergQuint in an interview.
Key highlights of the conversation:
Shares of the Anil Agarwal-led mining conglomerate fell as much as 8.5 percent, the most since November 2016, to Rs 212.15 on heavy volumes.
Trading volume was 1.6 times its 20-day average for this time of the day, data compiled by Bloomberg showed.
Buyers and sellers were not immediately known
Source: Bloomberg
Aavas Financiers settled at a discount of 7.67 percent Rs 758 per share in the pre-open price discovery session on the BSE.
Company sold shares at Rs 821 per share in IPO.
Aavas Financiers shares listed at a discount of 7.67 percent at Rs 758 against issue price of Rs 821.
The stock fell as much as 13.4 percent to Rs 710.45 on the BSE.
Aavas Financiers Ltd.’s Rs 1,734-crore initial public offering saw 97 percent subscription on its final day of bidding.
Shri O. P. Bhatt and Shri T. S. Vijayan are veteran leaders & stalwarts. Good luck and best wishes to them and the Board in selecting an entrepreneurial and effective leader to inherit from me. #YESBANK
— Rana Kapoor (@RanaKapoor_) October 8, 2018
Shares of the Secunderabad-based courier service provider fell as much as 12.88 percent to Rs 70 after ratings agency CARE Ratings downgraded its long and short term bank facilities.
The downgrade came on account of revenue decline and additional debt taken.
The IL&FS Effect: Indian Financiers Brace for Tighter Regulation
Shares of the state-run oil retailers rebounded after a two-day selloff after the government on Thursday asked them to cut fuel prices by Re 1 per litre.
Nifty's 10,500 strike price call option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract rose 3.6 percent to Rs 120.25. Over 8.42 lakh shares were added to the open interest which stood at 28.45 lakh shares.
Shares of the telecom equipment maker rose as much as 4.5 percent to Rs 19.75 after it advanced purchase order of Rs 879 crore from TCIL.
This includes operations and maintenance services of optical fiber cables and GPON equipment in Madhya Pradesh under the government’s BharatNet Phase II programme, being implemented by BSNL.
Shares of the Jaipur-based lead maker fell as much as 9.33 percent to Rs 69 after its order worth Rs 300 crore with Singapore based Kyen Resources crore was cancelled due to some management and financial issues at the end of Kyen Resources. Management is of the view that termination of above contract will not have any material impact on the financials.
Indian equity benchmarks reversed decline and rebounded from worst week in two years led by Reliance Industries, Kotak Mahindra Bank and ICICI Bank.
The S&P BSE Sensex rose 0.26 percent or 88 points to 34,465 and the NSE Nifty 50 Index 0.3 percent or 32 points to 10,348.
Twelve of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Realty Index's 1.8 percent drop. On the other hand, the S&P BSE Energy Index's 3.5 percent gain.
The mid- and small-cap shares were underperforming their larger peers as the S&P BSE MidCap Index fell 0.9 percent and the S&P BSE SmallCap Index declined 0.7 percent.
Buyers and sellers were not immediately known
Source: Bloomberg
India's second largest IT outsourcing company will announce its September quarter earnings on Oct. 16.
Infosys stock was trading 1.3 percent lower at Rs 714.95.
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The mid- and small-cap stocks were underperforming their larger peers as the S&P BSE MidCap Index fell 2.2 percent and the S&P BSE SmallCap Index plunged 2 percent.
Trade war pressure, downward shift in global manufacturing and global GDP growth revisions are impacting emerging markets, Nikolaos Panigirtzoglou, MD, global market strategy at JPMorgan told BloombergQuint in an interview.
Key highlights of the conversation:
Shares of the Uday Kotak-led private sector lender rose as much as 6.14 percent, the most since May 31, to Rs 1,116.80 on heavy volumes.
Trading volume was 1.4 times its 20-day average, according to data compiled by Bloomberg.
As many as 4.38 lakh shares changed hands on the BSE compared with an average of 2.31 lakh shares traded daily in the past two weeks.
Source: AMFI Wesbite
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.jpg?downsize=1080:540 "Sensex, Nifty Rebound After Worst Week In Over Two Years")
