Market Outlook: Indian markets will have flat to positive opening today as Wall Street advances; Dow hits fresh 2009 high & Asia trading firm; Shanghai Composite, Hang Seng up. Nifty has supports at 4880-4900 and resistances are at 5000-5040. We feel overall trend stands neutral as market is over stretched and is due for correction. We are in the result season so expect stock specific action rather market performance.
Global events to watch for today:
- US Holiday: Columbus Day
Global indices Update @ 9:
Dow Jones : 9864 (+78.07)
Nasdaq : 2139 (+15.35)
S&P 500 : 1071 (+06.01)
Nikkei 225 : 10016 (+183.9)
Hang seng : 21483 (-15.46)
SGX CNX Nifty : 4933 (+02)
INR / 1 USD : 46.50
CRUDE OIL : 72.31 (+00.44)
Gold : 1049 (+01.20)
On the global counter: Wall Street advances; Dow hits fresh 2009 high & Asia trading firm;
Stocks in action for the day: Lupin, EID Parry, RIL, REC, Peninsula, HDFC
Results today: HDFC, Axis Bank, Astra Microwave, DCB, Exide Industries, Geojit BNP Paribas, Infomedia 18, Praj Industries, Sintex Industries, TTK Prestige
Anil Ambani: -Reaches out to Mukesh Ambani to reconcile differences -Says believe disagreements can be sorted in cordial manner
RIL says -Contentious issues can be resolved by mutual dialogue -Dispute under litigation not merely a family matter
RIL to Oil Sec: -NTPC still not signing GSPAs for Kawas and Gandhar plants -2.01 mmscmd of gas allocated to Gandhar and Kawas unutilized -Ready to sign GSPAs with NTPC with caveats
Peninsula Land Q2 (QoQ): -Net profit up 121.83% at Rs 72.87 crore versus Rs 32.85 crore -Sales up 46.21% at Rs 168.73 crore versus Rs 115.4 crore -Peninsula Land OPMs at 47.49% versus 38.47% Peninsula Land Q2 (YoY) -Sales up 52.64% to Rs 168.73 crore -Reported Net Profit up 33.46% to Rs 72.87 crore -Adjusted Net profit up 43% from Rs 58 crore to Rs 83.1 crore
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