Shares rose in Asia after stocks rallied on Wall Street, bringing some relief to financial markets after losses.
Australian, Japanese and South Korean stocks all climbed. On Wednesday, the S&P 500 rose 0.8% in New York, its biggest gain in almost three weeks, while the Nasdaq 100 advanced 1.5%, its best day since August.
U.S. equity futures held to tight ranges in early Asian trading. Mainland China markets remain shut for a week-long holiday.
Meanwhile, Brent Crude prices were trading below $86 a barrel, and WTI Crude was below $85-mark. The yield on the 10-year U.S. bond was trading at 4.74% and Bitcoin was above 27,000-level.
At 6:18 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index's performance in India was down 35 points or 0.18% at 19,448.5.
India's benchmark stock indices closed lower for the second straight day on Wednesday as most sectors declined, with banks, realty, media, pharma, and auto leading the declines.
Intraday, Sensex slipped below the 65,000 level, and Nifty 50 slid below the 19,400 mark for the first time since Sept. 1.
Overseas investors remained net sellers of Indian equities for the 11th consecutive day on Wednesday. While foreign portfolio investors sold stocks worth Rs 4,424 crore, domestic institutional investors bought equities worth Rs 1,769.5 crore, according to provisional data from the NSE.
The Indian rupee weakened 3 paise to close at Rs 83.24 against the U.S. dollar on Wednesday.
Stocks To Watch
Hindustan Aeronautics: The company announced the Indian Air Force will procure 97 more LCAs after it delivered the first LCA Tejas twin-seater aircraft.
Punjab National Bank: The state-run lender reported CASA at Rs 5.38 lakh crore, up 2.6% year over year.Gross advances grew 13.8% to Rs 9.45 lakh crore, and total deposits stood at Rs 13.09 lakh crore, up 9.7%.
Marico: The company's domestic volumes grew in a low single-digit percentage range over the previous year, dragged by a persisting weakness in rural demand. Category-wise, sales volumes in its Saffola edible oil and Parachute coconut oil grew in low single-digits, aided by price cuts, while the value-added hair oils segment grew in low single-digit in value terms.
IDFC First Bank: CARE Ratings upgraded the bank's rating for long-term debt instruments to AA+/Stable from AA/Stable.
Hero MotoCorp: The company has received 13,688 bookings for its newly launched Karizma XMR. Dispatches to dealerships have already started, and customer deliveries will begin in the festive period this month.
ACC: The cement maker incorporated two new wholly-owned subsidiaries, ACC Concrete South and ACC Concrete West, each with an authorised capital of Rs 1 lakh.
Bandhan Bank: The lender reported CASA at Rs 43,161 crore, up 6.5% year over year.Loans and advances grew 12.3% to Rs 1,07,633 crore, and total deposits stood at Rs 1,12,074 crore, up 12.8%.
L&T Finance: Retail disbursements for the second quarter were up 32% year over year at Rs 13,490 crore. Retail loan book up 33% year over year to Rs 69,400 crore.
Jubilant FoodWorks: The company releases clarification on media reports, refuting claims of a cut in the price of large pizzas.
Exide Industries: The company announced an investment of Rs 340 crore in subsidiary Exide Energy Solutions via equity subscription.
JM Financial: CFO Manish Sheth stepped down with effect from Sept. 30, on account of being appointed as MD and CEO of JM Financial Home Loans.
RBL Bank: The lender reported CASA at Rs 32,075 crore, up 12% year over year, and CASA ratio as of Sept. 30 at 35.7% vs. 37.3% a quarter ago. Gross advances were up 21% year over year at Rs 78,186 crore and total deposits at Rs 89,774 crore, up 13%.
HealthCare Global Enterprises: The company acquired SRJ CBCC Cancer Hospital in Indore. HCG further plans to expand by adding 100 beds and a state-of-the-art cancer diagnostic and treatment facility within an estimated operational timeline of two years.
Nazara Technologies: A Singaporean subsidiary of NODWIN Gaming acquired a 100% stake in game marketing agency PublishME from parent firm Nazara Technologies for a sum of $2 million.
Strides Pharma: The company received USFDA approval for Efavirenz, Emtricitabine, and Tenofovir Disoproxil Fumurate tablets, which are used in HIV treatment.
Axiscades Technologies: The company appointed ex-Wipro CEO Abidali Neemuchwala as chairman.
IPOs
Plaza Wires: The IPO was subscribed 62.75 times on its third day. The bids were led by retail investors (224.95 times), non-institutional investors (132.89 times), and institutional investors (5.79 times). The issue closes on Oct. 5.
Bulks Deals
Indiabulls Housing Finance: Capri Global Holdings sold 25 lakh shares (0.53%) at Rs 171.45 apiece.
Pledge Share Details
Aurobindo Pharma: Promoters RPR Sons Advisors and P Suneela Rani created a pledge of 30 lakh shares on Sept. 28.
Jindal Steel & Power: Promoter Beautiful Holdings revoked a pledge of 25 lakh shares on Sept. 27.
Suryoday Small Finance Bank: Promoter Baskar Babu Ramachandran revoked a pledge of 22 lakh shares on Aug. 31 and another pledge of 9.5 lakh shares on Aug. 24.
Cigniti Technologies: Promoter C. Rajeshwari invoked a pledge of 3 lakh shares on Sept. 27.
Chambal Fertilisers & Chemicals: Promoter Zuari Industries revoked pledges of 10.77 lakh shares on Sept. 27.
Who's Meeting Whom
Vishnu Chemicals: To meet analysts and investors on Oct. 6.
Ircon International: To meet analysts and investors on Oct. 9 and 10.
Jindal Worldwide: To meet analysts and investors on Oct. 9.
Talbros Automotive Components: To meet analysts and investors on Oct. 9.
Trading Tweaks
Price Band Revised From 20% To 10%: Senco Gold
Move Out Of Short-Term ASM Framework: Mufin Green Finance
F&O Cues
Nifty October futures ended at 19,478.20, a discount of 93.3 points.
Nifty October futures rose 3.32%, with 6,692 shares in open interest.
Nifty Bank October futures ended at 44,255.15, a discount of 366.3 points.
Nifty Bank October futures rose 29.85%, with 40,767 shares in open interest.
Securities in the ban period: Delta Corp., India Bulls Housing Finance, and Manappuram Finance.
Research Reports
IT Q2 Results Preview - Soft Quarter, Status Quo Remains: HDFC Securities
Lemon Tree - Growth Story Intact; Maintaining A 'Buy': Anand Rathi
Vedanta - De-Merger Likely To Unlock Value But Debt Concerns Remain: Systematix
Media Q2 Results Preview - Full House In Cinemas But Broadcasters Struggle: Prabhudas Lilladher
SIS - Strong Growth, Recovery In Margin To Drive Earnings: Motilal Oswal
V-Mart - Soft Rural Demand; H2 Recovery May Be Strong: ICICI Securities
Anupam Rasayan - Fluorination Chemistry Likely To Drive Growth: Prabhudas Lilladher
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