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Europe: Euro group meeting
US: Factory orders — 8:30 p.m.
At 3: 29 p.m., Futures contract of Dow Jones was 0.02% higher at 42,221.00, that of S&P 500 rose 0.1% to 5,765.25, and Nasdaq 100 was also up 0.1% at 20,166.50.
Market breadth was skewed in the favour of sellers. As many as 2,705 stocks fell, 1,357 rose, and 137 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex recorded their worst session in a month.
The benchmark indices ended at their lowest levels since late June.
Reliance Industries Ltd., HDFC Bank Ltd., and ICICI Bank Ltd. were the top dragger in the Nifty 50 index.
Mahindra & Mahindra Ltd., State Bank of India, and Infosys Ltd. were top gainers in the index.
The NSE Nifty Realty was the worst performing sectoral index, while the NSE IT was the best performing sectoral index.
The NSE Nifty Oil & Gas declined to nearly five–month low. The index ended 2.48% down at 11,158.20.
The NSE Nifty Midcap 150 ended 1.21% down at 20,767.40.
The NSE Nifty Smallcap 250 ended 1.84% down at 17,609.50.
Net loss of Rs 107 crore vs loss of Rs 86.4 crore
Revenue fell 39.29% at Rs 12.9 crore vs Rs 21.2 crore
Ebitda loss of Rs 103 crore vs Ebitda loss of Rs 91.47 crore
Total Income rose 2% to Rs 6,900 crore vs Rs 6,762 crore
Marsons Ltd. is likely to set up subsidiary company in the UK for purposes of expanding presence in European market, the company said in an exchange filing.
Solar Industries (India) Ltd. received export orders worth Rs 399 crore for supply of defence products, it said in an exchange filing
Revenue up 1.8% at Rs 283 crore versus Rs 278 crore.
Ebitda down 12.4% at Rs 37.8 crore versus Rs 43.1 crore.
Margin at 13.3% versus 15.5%
Net profit up 22.7% at Rs 44.8 crore versus Rs 36.5 crore.
The Euro and Pound sterling rose against the US dollar on Monday as the dollar index fell to a two–week low. The index fell after data showed that the US added new jobs at the slowest pace since 2020, which affirmed expectation of a 25–basis point rate cut by the US Federal Reserve later this week.
The dollar index, which measures the strength of the greenback against six major currencies, fell 0.63% to 103.63, the lowest level since Oct 21. It was trading 0.15% down at 103.76 as of 2:18 pm.
The Euro and pound sterling were trading 0.54% and 0.32% down, respectively as of 2:13 p.m., according to Bloomberg data.
Net Profit fell 13.6% to Rs 299 crore vs Rs 346 crore
Revenue rose 14.4% to Rs 4,925 crore vs Rs 4,306 crore
Ebitda fell 12.8% to Rs 490 crore vs Rs 563 crore
Margin at 10% Vs 13.1%
Revenue up 1.8% at Rs 4,450 crore versus Rs 4,372 crore.
Ebitda down 5.5% at Rs 472 crore versus Rs 499 crore.
Margin at 10.6% versus 11.4%.
Net Profit down 13.7% at Rs 233 crore versus Rs 270 crore.
Gateway Distripaks launched double stack rail services at ICD Faridabad, the company said in an exchange filing.
For latest updates on second quarter earning click here.
Bharat Global Developers received significant order worth Rs 300 crore from Mccain India Agrotech, it said in an exchange filing.
Shapoorji Pallonji Group's Afcons Infra IPO To Open At Rs 440-463 Apiece Price Band
Bajaj Auto Share Price Slumps On Lackluster Wholesales In October
Rupee Weakens To Fresh Record Low Against US Dollar
Maruti Suzuki India Ltd. opened pre–bookings for 4th Generation Dzire, it said in an exchange filing.
Reliance Industries Share Price Hits Over Nine–Month Low Amid Selloff
Vedanta Ltd. signed a memorandum of understanding with United Nation Environment Programme's flagship methane reporting and mitigation initiative.
Cairn Oil & Gas is part of Vedanta Group. UNEP Stands For United Nations Environment Programme, it said in an exchange filing.
Outcome in October has been smashing success. Bajaj Auto has seen surge in retails in October, said Rakesh Sharma, executive director in an interview to NDTV Proft.
Bajaj Auto's focus area is 125cc segment. The company have grown 20% in retail terms in 125-cc segment. Bajaj Auto have sold 2 lakh pulsars, said Sharma.
October overall volume growth fell 6%
October overall exports fell 41%
NCC Share Price Snaps Two–Day Rally Ahead Of Q2 Results
Market breadth was skewed in favour of sellers. Around 2,090 stocks declined, 1,092 stocks advanced, and 161 stocks remained unchanged on BSE.
This week, there are 10 funds which are opening across categories. Six out of 10 are being launched under the passive scheme category. To know more click here.
At pre–open, the NSE Nifty 50 was trading 0.05% higher at 24,315.75, and the BSE Sensex was trading 0.01% down at 79,713.14.
The yield on the 10-year bond opened flat at 6.86%. It closed at 6.85% on Friday, according to data Bloomberg.
Rupee strengthened by 2 paise to open at 84.06 against the US dollar. It closed at 84.08 on Friday, according to data Bloomberg.
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Republican Sweep
Red sweep may trigger a short-term rally for Indian equities
Sustenance of short term rally to depend on valuations, earnings momentum
Expect rally to quickly fizzle out
Base thesis of market consolidation for H2FY25 stays unchanged
Possible sectoral beneficiary: IT, BFSI
Democrat Sweep
Democrat's sweep could trigger nervousness in global equities, leaving India somewhat vulnerable
Suggest to by into any major dip as core fundamentals are likely to be unchanged
IT could be vulnerable in the short term on high valuations, corporate tax hike concerns
Most Asian currencies advanced on Monday against the greenback as the dollar index declined on caution before the US election. Moreover, weak job growth in the US during October fuelled bets for further monetary easing, which weighed on the US dollar.
The Singaporean Dollar and Thai Baht rose the most against the US dollar. The currencies were trading 0.61% and 0.52% higher, respectively as of 8:33 a.m. IST.
Bucking the trend, the Indonesian rupiah declined against the greenback. It was 0.22% lower against the US dollar as of 08:33 a.m. IST.
The dollar index, which measures the strength of six major currencies, was 0.53% down at 103.74 as of 08:30 a.m. IST, according to data on Bloomberg terminal.
The greenback lost strength after a poll by Des Moines Register showed Kamala Harris leading in Iowa state, which was won by Donald Trump in his previous elections, Bloomberg reported. Investors considers Trump win to be a propeller for rally in the dollar index and US Treasury yields.
The yield on the benchmark 10–year US treasury note rose to the highest level in nearly four months. The yield rose after data showed US economy added 12,000 jobs in October, due to storms and strike, Bloomberg reported.
The pace of job growth was the slowest since 2020, which affirmed expectation that the US Federal Reserve will cut interest rates by 25 basis points.
The uncertainty surrounding the outcome of the US election also weighed on safe haven asset.
The yield on the 10–year US treasury note was trading 0.02% higher at 4.40% as of 5:07 a.m. IST.
Gold spot and future prices were largely steady in Asian trade as market participants exercised caution before the outcome of the US election and the Federal Reserve Policy meeting this week.
A rise in US treasury yield weighed on the bullion. The Bloomberg spot Gold was trading 0.07% higher at $2,738.51 an ounce as of 08:08 a.m. IST, according to data on Bloomberg
The December future contract of Gold was trading 0.05% down at $2,747.10 an ounce as of 08:00 a.m. IST, according to data on Bloomberg
Welspun Corp Ltd. received two large orders cumulatively valued at Rs 1,300 crore in US. The two large orders for supply of coated HSAW pipes for natural gas pipeline projects, the company said in an exchange filing
Welspun Corp will execute these orders during financial year 2026.
It raised the target price to Rs 1,800, which implied a 16% potential upside.
Goa facility cleared by FDA as VAI, boosting potential approval for limited-competition gAbraxane.
Focus on inhalers, injectables/peptides, and ARVs in the US, with expected growth in FY25-27
Higher valuation aligned with sector trends and regulatory progress.
Cipla’s stock up 29% over the past year but has lagged behind Nifty Pharma's 54% rise.
Risk-Reward View Favors Cipla with expected returns of 6-21% in one year.
Key Risks: Lower-than-expected growth in India, weaker US revenue, and higher pricing pressure.
Citi maintains BUY on HPCL, raises target to Rs 450 from Rs 420 earlier, which implied an 18% upside
Revise petrol/diesel marketing margin assumptions upwards
Lower gross refining margin forecasts on recent trends, mgmt commentary
Change FY26/27 EBITDA forecasts by -2%/+9%
Citi Research maintained 'Buy' on Indian Oil Corp at Rs 190 target which implied a 30.6% upside.
Revise petrol/diesel marketing margin assumptions upwards
Lower gross refining margin forecasts on recent trends, management commentary
Change FY26/27 EBITDA forecasts by -3%/+1%
Crude oil prices rose nearly 2% in Asian trade as the Organization of Petroleum Exporting Countries and allies decided to delay December production increase by a month, Bloomberg reported.
The January future contract of brent crude was trading 1.44% higher at $74.15 a barrel as of 7:07 a.m.
Asian Stocks Gain With US Election, Fed Meet In Focus This Week
On Friday, stocks on Wall Street ended higher as market participants shift their focus on US election this week. They shrugged off the US jobs data which showed job openings increased at the slowest pace since 2020 and unemployment remained low.
The Dow Jones Industrial Average ended 0.69% higher and the S&P 500 settled 0.41% higher. The Nasdaq Composite ended 0.80% higher on Friday.
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