The market activity turned laggard on Monday with the Nifty 50 failing to cross the key hurdle of 18513 after USDINR bounced back sharply to close above 81 levels. With the formation of ‘Hanging Man’ on the previous week’s setup, we expect the current weak movement to turn decisive with either movement above 18513 or breakdown below 18025. The key trigger to watch for globally would be movement in USDJPY. Any move below 138 in USDJPY has the potential to trigger a global sell-off in equities.
Nifty 50 Index & Dow Jones Index
Stocks To Watch
Positive Read Through
- ONGC- Results better than estimates, net realization up 33 pct YoY
- Biocon earnings mixed, Biosimilar revenue up 34 pct YoY
- Apollo Tyres- earnings beat on all parameters, margin up 40 bps QoQ
- LTI, Mindtree- Merger becomes effective November 14
- Greaves Cotton – EBIDTA at Rs 43 cr vs EBIDTA loss of Rs 10.2 cr
- NBCC secures a total business of Rs 332 cr in October vs Rs 162 cr in September
- NDTV: SEBI approves Adani’s open offer for 26% shares of NDTV
Negative Read Through
- Balkrishna Industries- weak earnings and cautious commentary, guidance not given
- GMR Infra- Loss narrows, reported EBIDTA down
- 4.8 pct, margin 42 pct vs 52 pct YoY
- Aarti Inds- EBIDTA up 4.5 pct, margin at 15.8 pct vs 20.2 pct YoY
- IRCTC reports soft numbers QoQ, YoY growth on a low base, margin up 20 bps QoQ.
- Dish TV- Profit falls 28 pct, revenue down 17 pct, margin down 700 bps YoY
- NMDC margin 25.6 pct vs expected 30.9 pct, avg realization per ton falls 48 pct YoY
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