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SGX Nifty Indicates Higher Opening; Maruti and Titan to Announce Results Today

Author: Rushit Sejpal

Posted Date: October 27 2021 | Reading Time: 2 minutes
At 8:30 am IST, SGX Nifty Futures was trading at 18,325, compared with Nifty’s close of 18,268 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count:

Nifty50: Three Nifty Midcap100: Four Nifty Smallcap100: Five

Global stock markets: Dow 30, +0.04%; Nasdaq, +0.06%; S&P 500, +0.2%; Nikkei, -0.6%; Kospi, -0.8%; Shanghai Composite, -1.1%.

Yesterday, Nifty retained its positive momentum. The index made a high of 18,265 and continued to trade near the highs for most of the day. Following the broader market’s dismal performance in the last few trading sessions, Nifty Midcap and Smallcap advanced 1.8% and 2.6%, respectively. On the sectoral front, it was a one-way journey for almost all sectoral indices. Nifty Realty and Metal remained the top performers for the day, gaining 3.6% and 2.7%, respectively. FIIs remained net sellers (Rs 2,368 crore), while DIIs net buying was worth Rs 1,385 crore.

The distribution day count currently stands at three. The market remains in a Confirmed Uptrend, but if the index adds a couple of distribution days, stages a reversal, or breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Reducing exposure to stocks breaking below their 21- or 50-DMA on higher volume is important.

Results Today: Adani Enterprises (Nse)Adani Ports and Special Economic ZoneArvindBajaj Auto, Dalmia BharatKei IndustriesKpr MillLarsen & Toubro, Lupin (Nse), Maruti Suzuki IndiaSbi Life Insurance CoTitan CompanyTata Chemicals, and others.

Key News

Cipla’s Q2 FY22 PAT and revenue exceeded estimates. PAT grew 11.4% y/y to Rs 712 crore. Revenue grew 9.6% y/y to Rs 5,519 crore. Margin contracted 120bps y/y to 22.2%.

Abb India’s Q2 FY22 PAT and margin beat estimates. Revenue was briefly below estimates. PAT grew 40.4% y/y to Rs 120 crore. Revenue grew 10.3% q/q to Rs 1,778 crore.

Axis Bank Q2 FY22 PAT came above estimates. PAT grew 86% y/y to Rs 3,133 crore. NII grew 7.8% y/y to Rs 7,900 crore. GNPA was down 32bps y/y to 3.53%.

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