The market declined for the third consecutive session on Thursday. Profit selling, weak Q2 results and negative global cues put pressure on bourses. Traders are concerned about the adverse impact of inflation and higher commodity prices on corporate revenues and margins. IT, metal and realty stocks witnessed steep selling. Banks stocks bucked the trend on value buying.

The barometer index, the S&P BSE Sensex, dropped 336.46 points or 0.55% to 60,923.50. The Nifty 50 index lost 88.50 points or 0.48% to 18,178.10.

After opening higher at 18,382.70 mark, the Nifty witnessed steep selling pressure, which dragged the index lower in morning trade. After hovering in a narrow range, the index hit the day's low of 18,048 in mid-afternoon trade.

In the broader market, the BSE Mid-Cap index slipped 0.38% and the BSE Small-Cap index skid 0.69%.

The market breadth was negative. On the BSE, 1,589 shares rose and 1,694 shares fell. A total of 143 shares were unchanged.

Numbers to Watch:

The yield on 10-year benchmark federal paper fell to 6.339% as compared with 6.373% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 74.8725, compared with its close of 74.88 during the previous trading session.

MCX Gold futures for 3 December 2021 settlement rose 0.15% to Rs 47,570.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.11% to 93.66.

In the commodities market, Brent crude for December 2021 settlement fell 91 cents at $84.91 a barrel. The contract rose 74 cents, or 0.87% to settle at $85.82 a barrel in the previous trading session.

Foreign Markets:

US Dow Jones index futures fell 107 points, indicating a weak opening in the US stocks.

European stocks fell across the board while Asian stocks ended mixed on Thursday, 21 October 2021 as concerns about the Chinese property sector returned to the fore, while investors also monitored a slew of corporate earnings.

Evergrande said on Wednesday it had scrapped a deal to sell a 50.1% stake in Evergrande Property Services Group Ltd to Hopson Development Holdings Ltd as the smaller rival had not met the prerequisite to make a general offer.

In US, the Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, attributed the slowdown to supply chain disruptions, labor shortages, and uncertainty around the Delta variant of COVID-19. The Fed also said employment increased at a modest to moderate rate in recent weeks, as demand for workers was high, but labor growth was dampened by a low supply of workers.

Buzzing Index:

The Nifty Bank index rose 1.30% to 40,030.20. The index declined 0.42% in the past two sessions.

Kotak Mahindra Bank (up 6.92%), RBL Bank (up 4.60%), Punjab National Bank (up 3.94%), Federal Bank (up 2.77%), IDFC FIRST Bank (up 2.57%), AU Small Finance Bank (up 2.48%), ICICI Bank (up 1.66%), Axis Bank (up 0.92%), SBI (up 0.91%), HDFC Bank (up 0.37%) and Bandhan Bank (up 0.06%) advanced.

Stocks in Spotlight:

Asian Paints tumbled 5.21% to Rs 3003.50. On a consolidated basis, Asian Paints' revenue from operations has increased by 32.6% to Rs 7,096.01 crore in Q2 September 2021 from Rs 5,350.23 crore in Q2 September 2020. Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share in profit of associates) decreased by 28.5% to Rs 904.45 crore from Rs 1265.20 crore. Profit Before Tax (PBT) decreased by 27.9% to Rs 826.24 crore from Rs 1,145.52 crore. Net profit after non-controlling interest decreased 28.2% to Rs 595.96 crore as compared to Rs 830.37 crore in the previous corresponding period.

Among other paint makers, Berger Paints India (down 6.22%), Asahi Songwon Colors (down 1.46%), Indigo Paints (down 0.83%), Shalimar Paints (down 1.18%) and Akzo Nobel India (down 1.14%) declined.

Shoppers Stop hit an upper circuit of 20% at Rs 326.15. The company reported net loss of Rs 3.58 crore in Q2 September 2021, lower than net loss of Rs 97.70 crore in Q2 September 2020. Net sales surged 116.20% to Rs 642.07 crore in Q2 September 2021 over Q2 September 2020.

The company said it witnessed strong recovery in demand after the second wave across the formats, with sales moving swiftly close to pre-pandemic levels in August and September. All the stores are now fully operational, with overall store operation days at 87% for the quarter.

Syngene International fell 1.91%. The company's consolidated net profit (after exceptional items) dropped 20.68% to Rs 66.70 crore on a 17.43% surge in revenue from operations to Rs 610.20 crore in Q2 FY22 over Q1 FY21.

Tejas Networks slipped 4.47%. The company posted a 19.2% drop in consolidated net profit to Rs 3.66 crore in Q2 FY22 as compared to a net profit of Rs 4.53 crore posted in Q2 FY21. Revenue from operations increased by 57% to Rs 172.78 crore in Q2 FY22 over Q2 FY21. The profit before stood at Rs 3.33 crore in Q2 FY22, 26.5% lower than Rs 4.53 crore in Q2 FY22 over Q2 FY21. Profitability was impacted after total expenses spiked 52.7% to Rs 173.62 crore in Q2 FY22 over Q2 FY21.

Supreme Petrochem dropped 6.34%. The company's standalone net profit jumped 47.49% to Rs 127.07 crore on a 71.56% surge in total income from operations (net) to Rs 1,190.76 crore in Q2 FY22 over Q2 FY21.

Tata Steel Long Products skid 4.71%. The company's net profit declined by 59.36% to Rs 134.77 crore in Q2 FY22 from Rs 331.60 crore in Q1 FY22. Revenue from operations in the second quarter fell by 2.98% to Rs 1,637.37 from Rs 1,687.64 reported in the first quarter of the financial year 2021-22.

Just Dial slipped 1.96%. The company's consolidated net profit fell 30.48% to Rs 32.91 crore on 6.89% decline in net sales to Rs 155.98 crore in Q2 September 2021 over Q2 September 2020.

Deferred revenue stood at Rs 334.2 crore, up 8.7% QoQ and up 19.6% YoY. Total traffic (unique visitors) for the quarter stood at 149.5 million, up 14.5% YoY and 20.5% QoQ. Total active listings stood at 31 million as on 30 September 2021, an increase of 3.3% YoY and 1.3% QoQ.

Havells India slumped 8.52%. The company's standalone net profit declined 7.18% to Rs 301.56 crore on 31.38% rise in net sales to Rs 3221.03 crore in Q2 September 2021 over Q2 September 2020.

The company reported healthy growth across business verticals. It added that increase in commodity cost remained unabated with severe escalation in a rather short period. Price increase have been staggered creating a lag affect on margins. However, we maintain a positive outlook on demand growth which could support margin as well, the company said.

Jindal Stainless (Hisar) (JSHL) added 2.55%. JSHL has commissioned 26,000 tonnes per annum (TPA) capacity Precision Strip Mill as part of the first phase of its latest brownfield expansion plan at its state-of-the-art specialty products division (SPD).

PNB Housing Finance hit a lower circuit of 5% at Rs 520.60. The company said that its board will on 2 November 2021 consider plans to raise funds via issuance of non-convertible debentures on private placement basis aggregating up to Rs 2,000 crore in tranches.

The domestic equity benchmarks ended with significant cuts on Wednesday. Metal, FMCG and realty stocks tumbled while PSU banks and media shares bucked the trend. The S&P BSE Sensex, dropped 456.09 points or 0.74% to 61,259.96.

The Nifty 50 index lost 152.15 points or 0.83% to 18,266.60. It reversed trend after hitting the day's high of 18,458.30 in morning trade.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 5.35% to 18.31.

The broader market declined sharply after a recent rally. The BSE Mid-Cap index slipped 1.91% and the BSE Small-Cap index skid 2.31%.

The market breadth was weak. On the BSE, 978 shares rose and 2322 shares fell. A total of 127 shares were unchanged.

Numbers to Watch:

The yield on 10-year benchmark federal paper fell to 6.375% as compared with 6.387% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 74.88, compared with its close of 75.35 during the previous trading session.

MCX Gold futures for 3 December 2021 settlement rose 0.30% to Rs 47,420.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.11% to 93.83.

In the commodities market, Brent crude for December 2021 settlement fell 87 cents at $84.21 a barrel. The contract rose 75 cents, or 0.89% to settle at $85.08 a barrel in the previous trading session.

Foreign Markets:

Shares in Europe and Asia were mixed on Wednesday, as investors digested a slew of corporate earnings. China on Wednesday kept the one-year loan prime rate (LPR) unchanged at 3.85% while the five-year LPR was also held steady at 4.65%.

The International Monetary Fund (IMF) on Tuesday downgraded its 2021 economic growth forecast for Asia after the highly infectious COVID-19 delta variant caused a spike in cases in parts of the region. The IMF said it expects Asia's economy to grow by 6.5% in 2021, compared with its April forecast for a 7.6% expansion. The region's growth will be led by China and India, the fund added.

The IMF expects China to grow 8% this year and India by 9.5% in the fiscal year that ends next March.

Buzzing Indian Segment:

The Nifty PSU Bank index rose 1.54% to 2,761.15. The index fell 3.73% in the previous session.

Union Bank of India (up 5.73%), Bank of Baroda (up 4.09%), Indian Bank (up 3.24%), Canara Bank (up 3.04%), State Bank of India (up 2.66%) and Central Bank of India (up 1.11%) advanced.

Stocks in Spotlight:

IRCTC (down 17.34%), Deepak Nitrate (down 12.12%), Cera Sanitaryware (down 9.73%), Dixon Technologies (down 8.77%) and IEX (down 6.34%) slumped.

Mastek fell 13.55%. The company's net profit rose 1.6% to Rs 81.5 crore on 3.4% increase in revenue from operations to Rs 533.9 crore in Q2 September 2021 over Q1 June 2021. On a year on year (YoY) basis, Mastek's net profit rose 37.8% and revenue from operations rose 30.3%.

Navin Fluorine International slumped 9.28% after the chemical maker posted a 6.8% decline in consolidated net profit to Rs 63.22 crore in Q2 FY22 from Rs 67.81 crore reported in Q2 FY21. Revenue from operations increased by 6.3% to Rs 338.96 crore in Q2 FY22 over Q2 FY21. Profit before tax declined 7.5% year on year to Rs 82.4 crore in Q2 FY22.

Jubilant Foodworks slumped 8.51%. On a standalone basis, Jubilant Foodworks posted a 58% rise in standalone net profit to Rs 121.5 crore on a 36.6% rise in revenue from operations to Rs 1100.7 crore in Q2 FY22 over Q2 FY21.

Domino's Like-for-Like (LFL) sales growth stood at 29.4% in Q2 FY22 as compared to a negative 18.8% in Q2 FY21. LFL sales growth refers to the year-over-year growth in sales for non-split restaurants opened before previous financial year.

Same store growth (SSG) came at 26.3% in Q2 FY22 as against a negative 20% in the same period last year. SSG refers to the year-over-year growth in sales for restaurants opened before previous financial year. As on 30 September 2021, there were 1,435 Domino's Pizza stores, 28 Dunkin Donuts stores and 21 Hong's Kitchen and Ekdum! stores.

Nestle India shed 0.61%. The company's net profit rose 5.16% to Rs 617.37 crore on 9.63% increase in net sales to Rs 3,864.97 crore in Q3 September 2021 over Q3 September 2020. In overall terms, the third quarter saw strong high single digit volume & mix growth in domestic sales, the company said.

L&T Technology Services fell 3.23%. The company's consolidated net income rose 6.4% to Rs 230 crore on 5.9% increase in revenue to Rs 1607.70 crore in Q2 September 2021 over Q1 June 2021. The company raised FY22 USD revenue growth guidance to 19-20%.

ACC added 0.65%. The cement maker's consolidated profit after tax rose 24% to Rs 450 crore on 5.33% increase in net sales to Rs 3653 crore in Q2 September 2021 over Q2 September 2020.

ICICI Prudential Life Insurance Company dropped 4.35%. The company reported profit after tax of Rs 445 crore in Q2FY22 against Rs 303 crore in Q2FY21. Net premium income increased to Rs 9286 crore in the second quarter of the fiscal from Rs 8572 crore a year ago.

Nelco was locked in a lower circuit of 5% at Rs 911.25. The company's consolidated net profit soared 53.15% to Rs 3.40 crore on a 13.52% surge in total income to Rs 61.46 crore in Q2 FY22 over Q2 FY21.

ICICI Securities declined 2.96%. The brokerage company posted a 26.3% increase in consolidated net profit to Rs 351.24 crore on a 26% rise in revenue to Rs 857 crore in Q2 FY22 over Q2 FY21.

The stock broking company's profit before tax stood at Rs 470.92 crore in Q2 FY22, 26.5% higher than Rs 372.30 crore reported in Q2 FY21, on account of growth in revenue and improvement in margins. The company said it added over 5.8 lakh clients and reported its highest ever quarterly addition.

Ipca Laboratories slipped 2.40%. The pharmaceutical company said its board will consider 2-for-1 stock split on 13 November 2021. The board will consider splitting each share of face value Rs 2 each into two shares of face value of Re 1 each. On 13 November 2021, the company's board will also consider Q2 results and interim dividend.

Snowman Logistics surged 5.13% after the company reported net profit of Rs 0.47 crore in Q2 September 2021 compared with net loss of Rs 1.73 crore in Q2 September 2020. Net sales 21.46% to Rs 70.07 crore in Q2 September 2021 over Q2 September 2020. EBITDA increased by 25% to Rs 19.03 crore from Rs 15.19 crore in the corresponding quarter of the previous year.

The equity barometers corrected on Tuesday, snapping a rally in the past seven sessions. IT stocks held firm while realty, FMCG and metal shares tumbled.

The Sensex fell 49.54 points, or 0.08% at 61,716.05. It hit a record high of 62,245.43 in afternoon trade.

After hitting an all-time high of 18,604.45 in initial trades, the Nifty 50 index reversed trend and fell 58.30 points, or 0.32% to end at 18,418.75.

Tech Mahindra (up 4.12%), Larsen & Toubro (up 3.26%) and Infosys (up 1.63%) supported the indices.

ITC (down 6.23%), Hindustan Unilever (down 4.06%), Titan Company (down 3.97%) were major drags.

The Sensex rose 4.35% and the Nifty advanced 4.71% in the past seven consecutive sessions.

In the broader market, the S&P BSE Mid-Cap index shed 1.98%. The S&P BSE Small-Cap index declined 1.79%.

Sellers outnumbered buyers. On the BSE, 979 shares rose and 2382 shares fell. A total of 128 shares were unchanged.

Numbers to Watch:

MCX Gold futures for 3 December 2021 settlement rose 0.30% to Rs 47,432.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.46% to 93.52.

In the commodities market, Brent crude for December 2021 settlement rose 55 cents at $84.88 a barrel. The contract fell 53 cents, or 0.62% to settle at $84.33 a barrel in the previous trading session.

Foreign Markets:

Shares in Europe and Asia advanced on Tuesday. Investors mulled corporate earnings as well as the prospect of tightening monetary policy to restrain inflation.

Minutes from the Reserve Bank of Australia's October monetary policy meeting showed the RBA expecting the Australian economy to return to growth in the December quarter and to its pre-Delta path in the second half of 2022.

In US, the S&P and Nasdaq closed higher on Monday as investors appeared optimistic about the third-quarter earnings season.

U.S. industrial production declined in September as supply constraints continued to hinder manufacturing. Output fell almost 1.28% to its lowest level since February, when it fell 3.02%, according to data released Monday by the Federal Reserve.

Stocks in Spotlight:

Hindustan Unilever (HUL) slumped 4.06%. The FMCG major posted a 9% rise in standalone net profit to Rs 2,187 crore on an 11% increase in revenue from operations to Rs 12,516 crore in Q2 FY22 over Q2 FY21. EBITDA margin stepped up sequentially and stood at 25% in Q2 FY22.

During the quarter, the company reported domestic consumer growth of 11%. HUL said its performance was broad based with all three divisions growing competitively. Business fundamentals remained strong with more than three-fourths of the business gaining market share and penetration.

Sanjiv Mehta, chairman and MD said, September quarter witnessed a sequential improvement in trading conditions, albeit remained challenging with unprecedented levels of input cost inflation and subdued consumer sentiments. Large parts of our business continue to gain market shares and penetration. Looking forward, we remain cautiously optimistic about demand recovery.

State Bank of India (SBI) declined 1.89%. SBI has allotted 6,000 Basel III compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT-1 capital of the bank of face value of Rs 1 crore each, at par, bearing a coupon of 7.72% p.a. payable annually, aggregating to Rs 6,000 crore to bond subscribers on 18 October 2021.

Meanwhile, the Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 1 crore on SBI for non-compliance with the directions contained in 'Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016'.

TV18 Broadcast fell 1.18%. The broadcasting company posted an 86.67% increase in consolidated net profit to Rs 140 crore on a 29% rise in revenue from operations to Rs 1308 crore in Q2 FY22 over Q2 FY21.

Larsen & Toubro Infotech (LTI) soared 15.93%. The company reported 11.1% increase in consolidated profit to Rs 551.70 crore on 8.8% rise in revenue to Rs 3767 crore in Q2 FY22 over Q1 FY22. The company's EBITDA margin rose to 19.5% in Q2 FY22 from 18.7% in Q1 FY22 but slipped from 22.9% posted in the same period last year. In US dollar terms, the revenue stood at USD $509 million; registering a growth of 8.3% QoQ and 25.8% YoY. Constant Currency revenue growth stood at 8.9% QoQ and 25.5% YoY.

Route Mobile fell 4.06%. The company posted a 22.58% jump in consolidated net profit to Rs 42.07 crore on a 15.4% increase in net sales to Rs 435.67 crore in Q2 FY22 as compared to Q1 FY22. The company's consolidated net profit has risen by 28.3% and net sales have risen by 24.7% in Q2 FY22 over Q2 FY21.

Alok Industries tumbled 11.57%. The company reported net loss of Rs 84.11 crore in Q2 FY22 as against a net profit of Rs 4,798.64 crore in Q2 FY21. Revenue from operations surged 134.24% to Rs 1,904.57 crore in Q2 FY22 over Q2 FY21.

H G Infra Engineering rose 1.55%. The company has been declared as L-1 bidder by National Highways Authority of India (NHAI) for two HAM projects.

TTK Prestige jumped 12.15%. The company's board will consider a stock split on 27 October 2021.

Indian Energy Exchange (IEX) jumped 5.77%. The board of IEX will consider bonus share issue on 21 October 2021.

The equity benchmarks rose for the seventh consecutive session and settled at record closing levels on Monday. The gains were powered by metals, power and IT stocks.

The S&P BSE Sensex jumped 459.64 points or 0.75% to 61,765.59. The Nifty 50 index gained 138.50 points or 0.76% at 18,477.05.

The Nifty hit a record high of 18,543.15 and the Sensex hit an all time high of 61,963.07 in afternoon trade.

Infosys (up 4.47%), Tech Mahindra (up 3.36%), Tata Steel (up 2.73%) and TCS (up 1%) supported the indices.

In the broader market, the S&P BSE Mid-Cap index rose 0.95%. The S&P BSE Small-Cap index gained 0.69%.

Buyers outnumbered sellers. On the BSE, 1830 shares rose and 1616 shares fell. A total of 178 shares were unchanged.

The NSE's VIX index, a gauge of market's expectation of volatility over the near term, jumped 8.99% to 17.185.

High-paced vaccination drive, reviving economies across the world and RBI's dovish stance boosted sentiment. However, rising global crude oil prices and a weak domestic currency continued to worry investors.

The Sensex has risen 4.35% and the Nifty has advanced 4.71% in seven consecutive sessions.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement fell 0.06% to Rs 47,185.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.385% as compared with its previous closing of 6.328%.

In the commodities market, Brent crude for December 2021 settlement rose 92 cents or 1.08% to $85.78 a barrel.

In the foreign exchange market, the partially convertible rupee fell to 75.35 from its previous closing of 75.2650.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.21% to 94.15.

Global Markets:

US Dow Jones index futures fell 101 points, indicating a weak opening in the US stocks today.

European stocks fell across the board while most Asian stocks declined on Monday, 18 October 2021, as global markets geared up for big earnings reports.

China's economic growth continued to decelerate in the third quarter, as gross domestic product came in at 4.9%, softened by the country's zero-tolerance COVID measures and energy shortages.

The figure slid from 7.9% for the April-to-June quarter, weighed down by high commodity prices amid uncertainty kindled by the Evergrande Group's debt crisis, which is piling risk onto the property and banking sectors.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 24,06,65,365 with 48,98,487 deaths. India reported 1,89,694 active cases of COVID-19 infection and 4,52,290 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 97,74,54,119 COVID-19 vaccine doses have been administered in the country so far, with over 12.02 lakh doses being given yesterday, according to the Co-WIN dashboard.

Stocks in Spotlight:

HDFC Bank fell 0.93%. The bank's net profit rose 17.59% to Rs 8834.31 crore on 7.44% increase in total income to Rs 38,754.16 crore in Q2 September 2021 over Q2 September 2020. Net interest income (interest earned less interest expended) for the quarter ended 30 September 2021 grew by 12.1% to Rs 17,684.4 crore from Rs 15,776.4 crore for the quarter ended 30 September 2020. Core net interest margin was at 4.1%.

HCL Technologies shed 2.36%. The IT major reported 1.7% rise in consolidated net profit to Rs 3,259 crore on a 2.9% increase in revenue from operations to Rs 20,655 crore in Q2 FY22 over Q1 FY22. As compared with Q2 FY21, the company's net profit and revenues are higher by 3.7% and 11.1%, respectively.

In constant currency terms, the IT company's revenues grew by 3.5% quarter-on-quarter (QoQ). HCL expects revenue to grow in double digits in constant currency for FY22. EBIT margin is expected to be between 19.0% and 21.0% for FY'22.

Avenue Supermarts (DMart) dropped 8.16%. The company posted a 110% jump in consolidated net profit to Rs 418 crore on 46.8% increase in revenue from operations to Rs 7,789 crore in Q2 FY22 over Q2 FY21. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY22 stood at Rs 669 crore, as compared to Rs 330 crore in the corresponding quarter of last year, registering a rise of 102.7%. EBITDA margin improved to 8.6% in Q2FY22 as compared to 6.2% in Q2FY21.

Ultratech Cement fell 0.08%. The cement maker's consolidated net profit rose 0.38% to Rs 1,314 crore on 14.41% increase in net sales to Rs 11,743 crore in Q2 September 2021 over Q2 September 2020. Profit before tax (PBT) rose 12.35% to Rs 1,947 crore in Q2 September 2021 over Q2 September 2020. Profit before interest, depreciation & taxes (PBIDT) rose 0.78% to Rs 2855 crore during the period under review.

Cyient rose 2.98%. The company's consolidated net profit added 5.47% to Rs 121.30 crore on a 5.04% increase in revenue from operations to Rs 1,111.60 crore in Q2 FY22 over Q2 FY22.

On a year-on-year (Y-o-Y) basis, the company's consolidated net profit jumped 44.57% while revenue from operations surged 10.79% in Q2 FY22.

During the quarter, the group EBIT margin stood at 14%, leading its highest ever operating profit. The order intake grew by 23% Y-o-Y. The offshoring was at 50%, its highest in the past ten quarters.

Indiabulls Real Estate jumped 6.43%. The real estate company posted a consolidated net profit of Rs 5.53 crore in Q2 FY22 compared with net loss of Rs 76.13 crore in Q2 FY21. Revenue from operations soared 1632% to Rs 349 crore in Q2 FY22 from Rs 20.15 crore registered in Q2 FY21.

The company's consolidated debt net of cash and liquid investments stood at Rs 967 crore as on 30 September 2021 as compared to Rs 2,025 crore as on 21 March 2020 wherein total sold receivables and completed inventory in hand was at Rs 3,369 crore as on date.

Mahindra CIE Automotive (MCIE) jumped 4.90% after the company's consolidated net profit surged 173.73% to Rs 166.32 crore on 23.40% increase in net sales to Rs 2,090.69 crore in Q3 September 2021 over Q3 September 2020. Profit before tax jumped 91% to Rs 179.04 crore in Q3 September 2021 over Q3 September 2020.

Antony Waste Handling Cell tumbled 10.78%. The company said that the Income Tax Department conducted a search at the company's premises and that of three of its subsidiary companies. The search proceedings were concluded on 15 October 2021, the company said.

Benchmarks indices ended with strong gains on Thursday, extending their winning run to sixth consecutive session. Positive global stocks boosted sentiment. The Nifty hit a record high of 18,350.75 and the Sensex hit an all time high of 61,353.25 in late trade.

The barometer index, the S&P BSE Sensex, rallied 568.90 points or 0.94% to 61,305.95. The Nifty 50 index added 176.80 points or 0.97% to 18,338.55. Both the indices attained record closing levels.

Strong earnings by tech companies Mindtree, Infosys and Wipro fuelled the rally in other IT stocks. HDFC Bank hit a record high of Rs 1,690 today ahead of its Q2 earnings on 16 October 2021.

The broader indices lagged the benchmarks. The S&P BSE Mid-Cap index rose 0.54% while the S&P BSE Small-Cap index gained 0.46%.

The market breadth was positive. On the BSE, 1,703 shares rose and 1,655 shares fell. A total of 140 shares were unchanged.

The Sensex has risen 3.58% and the Nifty has climbed 3.92% in six consecutive sessions.

The Indian stock market will remain shut on Friday (15 October 2021) on account of Dussehra.

Economy:

India's inflation based on wholesale price index (WPI) rose 10.66% in September 2021 compared with 1.32% in September 2020.

The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals and chemical products, etc. compared with the corresponding month of the previous year, the Ministry of Commerce & Industry said in a statement today.

WPI grew 11.39% in August 2021, while the figure for July was 11.57%.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement rose 0.26% to Rs 48,039.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.329% as compared with its previous closing of 6.314%.

In the commodities market, Brent crude for December 2021 settlement rose 93 cents or 1.12% to $84.11 a barrel.

In the foreign exchange market, the partially convertible rupee rose to 75.265 from its previous closing of 75.375.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.26% to 93.84.

Global Markets:

US Dow Jones index futures were up 201 points, indicating a strong opening in the US stocks today.

European stocks rose across the board while most Asian stocks settled higher on Thursday with investors around the world reflecting on the latest inflation data and earnings out of the US. Investors also reacted to the release of China's inflation data for September. Markets in Hong Kong were closed on Thursday for a holiday.

China's producer price index for September soared 10.7% as compared with a year ago. China's consumer price index also rose 0.7% in September as compared with a year ago.

Meanwhile, Singapore's central bank unexpectedly tightened monetary policy on Thursday. Official advance estimates also showed on Thursday that Singapore's economy grew 6.5% year-on-year in the third quarter of 2021.

In US, minutes from the Federal Open Market Committee's September meeting showed the central bank could begin tapering its asset-purchase program as soon as mid-November.

US consumer prices rose 0.4% last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years. The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday, up slightly from August's gain of 5.3%. Excluding the volatile food and energy categories, core inflation rose 0.2% in September and 4% compared with a year ago. Core prices hit a three-decade high of 4.5% in June.

Stocks in Action:

ITC rose 2.89% to Rs 256.55, extending recent gains on reports that e-commerce giant Amazon is planning to invest in ITC e-Choupal. ITC's e-Choupal links directly with rural farmers via the Internet for procurement of agricultural and aquaculture products like soybeans, wheat, coffee, and prawns. The system saves procurement costs for ITC, while the farmers benefit through enhanced farm productivity and higher farm gate prices.

ITC hit a 52-week high of Rs 261.80 today. It has risen 10.75% in four sessions.

Indian Railway Catering and Tourism Corporation (IRCTC) surged 10.94% to Rs 5467.35, extending gains for the third day. The stock hit a record high of Rs 5593.85 today. It has surged 14.55% in in three sessions.

IRCTC has fixed 29 October 2021 as the record date for the proposed 5-for-1 stock split.

Century Textiles & Industries jumped 2.87% after the company reported a consolidated net profit of Rs 44.71 crore in Q2 FY22 as against a net loss of Rs 14.13 crore in Q2 FY21. Net sales increased 67.5% YoY to Rs 997.98 crore in Q2 FY22 over Q2 FY21.

Westlife Development jumped 3.17% after the company said that it will look at adding another 150-200 stores and invest Rs 800-1,000 crore across the business over the next 3-4 years.

Dish TV India fell 2.06%. The board of Dish TV India on Wednesday (13 October 2021) expressed its inability to convene EGM as requisitioned by Yes Bank, citing various regulatory and procedural hurdles. According to the company, Yes Bank's shareholding in Dish TV was due to invocation of pledges, and this prevented placing the resolutions before its shareholders.

Mindtree surged 7.56% after the company reported 16.2% rise in consolidated net profit to Rs 398.9 crore on a 12.9% increase in revenue to Rs 2,586.2 crore in Q2 FY22 over Q1 FY22. As compared to Q2 FY21, the company's net profit and revenue have increased by 57.2% and 34.3%, respectively. EBITDA margin stood at 20.5% as on 30 September 2021 as against 20.3% as on 30 June 2021.

Wipro climbed 5.20% after the IT major reported 9.6% fall in consolidated net profit to Rs 2,930.7 crore in Q2 FY22 from Rs 3,242.6 crore in Q1 FY22. Revenue from operations increased by 7.8% Q-o-Q to Rs 19,667.4 crore during the quarter. As compared to Q2 FY21, the IT firm's net profit and revenue from operations in Q2 FY22 have risen by 18.9% and 30.1%, respectively. The IT Services segment revenue was at $2,580 million, an increase of 6.9% Q-o-Q and 29.5% Y-o-Y. The Non-GAAP constant currency IT Services segment revenue increased by 8.1% Q-o-Q and 28.8% Y-o-Y. The IT Services operating margin for the quarter was at 17.8%, down 104 bps on a sequential basis.

Infosys gained 0.40%. The IT bellwether said its consolidated net profit rose 4.4% to Rs 5,421 crore on 6.1% increase in revenues to Rs 29,602 crore in Q2 FY22 over Q1 FY22. On a year-on-year basis, Infosys' net profit and revenue in Q2 FY22 increased 11.9% and 20.5%, respectively. Revenues in constant currency terms grew by 19.4% YoY and 6.3% QoQ. Operating margin for the quarter stood at 23.6%, a decline of 1.8% YoY and 0.1% QoQ. Infosys said its revenue guidance for FY22 is revised upwards to 16.5%-17.5%. Margin guidance is retained at 22%-24%.

Benchmarks indices ended with strong gains on Thursday, extending their winning run to sixth consecutive session. Positive global stocks boosted sentiment. The Nifty hit a record high of 18,350.75 and the Sensex hit an all time high of 61,353.25 in late trade.

The barometer index, the S&P BSE Sensex, rallied 568.90 points or 0.94% to 61,305.95. The Nifty 50 index added 176.80 points or 0.97% to 18,338.55.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.54% while the S&P BSE Small-Cap index gained 0.46%.

The market breadth was positive. On the BSE, 1,703 shares rose and 1,655 shares fell. A total of 140 shares were unchanged.

The Indian stock market will remain shut on Friday (15 October 2021) on account of Dussehra.

Economy:

India's inflation based on wholesale price index (WPI) rose 10.66% in September 2021 compared with 1.32% in September 2020.

The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals and chemical products, etc. compared with the corresponding month of the previous year, the Ministry of Commerce & Industry said in a statement today.

WPI grew 11.39% in August 2021, while the figure for July was 11.57%.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement rose 0.26% to Rs 48,039.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.329% as compared with its previous closing of 6.314%.

In the commodities market, Brent crude for December 2021 settlement rose 93 cents or 1.12% to $84.11 a barrel.

In the foreign exchange market, the partially convertible rupee rose to 75.265 from its previous closing of 75.375.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.26% to 93.84.

Global Markets:

US Dow Jones index futures were up 201 points, indicating a strong opening in the US stocks today.

European stocks rose across the board while most Asian stocks settled higher on Thursday with investors around the world reflecting on the latest inflation data and earnings out of the US. Investors also reacted to the release of China's inflation data for September. Markets in Hong Kong were closed on Thursday for a holiday.

China's producer price index for September soared 10.7% as compared with a year ago. China's consumer price index also rose 0.7% in September as compared with a year ago.

Meanwhile, Singapore's central bank unexpectedly tightened monetary policy on Thursday. Official advance estimates also showed on Thursday that Singapore's economy grew 6.5% year-on-year in the third quarter of 2021.

In US, minutes from the Federal Open Market Committee's September meeting showed the central bank could begin tapering its asset-purchase program as soon as mid-November.

US consumer prices rose 0.4% last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years. The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday, up slightly from August's gain of 5.3%. Excluding the volatile food and energy categories, core inflation rose 0.2% in September and 4% compared with a year ago. Core prices hit a three-decade high of 4.5% in June.

Domestic benchmark indices settled with strong gains on Wednesday, extending rise for the fifth straight session. Global stocks were subdued ahead of the release of US inflation data. Barring the Nifty Realty index, all the sectoral indices on the NSE settled in the green. Tata Group stocks surged on back of Rs 7,500 crore TPG funding in Tata Motors.

The S&P BSE Sensex jumped 452.74 points or 0.75% at 60,737.05. The Nifty 50 index gained 169.80 points or 0.94% at 18,161.75. Both the indices attained record closing levels.

The Sensex hit a record high of 60,836.63 and the Nifty hit an all time high of 18,197.80 in afternoon trade.

The broader market displayed strength. The S&P BSE Mid-Cap index rose 1.56% while the S&P BSE Small-Cap index added 0.59%.

Gainers outpaced losers. On the BSE, 1760 shares rose and 1578 shares fell. A total of 138 shares were unchanged.

The Sensex has risen 2.61% and the Nifty has climbed 2.92% in five consecutive sessions.

Economy:

In its latest World Economic Outlook report, released on Tuesday, the International Monetary Fund (IMF) said that Indian economy is expected to grow by 9.5% in 2021 and 8.5% in the next year.

The global growth projection for 2021 has been revised down marginally to 5.9% and is unchanged for 2022 at 4.9%.

India's industrial production rose 11.9% in August, according to the data released by the National Statistical Office (NSO) on Tuesday. The manufacturing sector, which constitutes 77.63% of the Index of Industrial Production (IIP), grew 9.7% in August, mining sector output rose 23.6% in August, while power generation increased 16 per cent.

Retail inflation growth in India based on Consumer Price Index (CPI) eased to 4.35% in the month of September following a 5.30% in August, the data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement rose 0.35% to Rs 47,362.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.316% as compared with its previous closing of 6.326%.

In the commodities market, Brent crude for December 2021 settlement fell 52 cents or 0.62% to $82.90 a barrel.

In the foreign exchange market, the partially convertible rupee rose to 75.375 from its previous closing of 75.5225.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.25% to 94.28.

The yield on the benchmark 10-year U.S. Treasury note eased to 1.56%.

Global Markets:

Most shares in Europe and Asia advanced on Wednesday, as investors awaited U.S. inflation data to gauge the Federal Reserve's path on normalizing policy.

On the data front, U.K. GDP was 6.9% higher in August than the same period last year.

The U.S. consumer price inflation data and the minutes from US Fed's Sept. 21-22 policy meeting will release later today.

Stocks in Action:

Infosys rose 1.42%. The IT bellwether's net profit rose 4.4% to Rs 5,421 crore on 6.1% increase in revenues to Rs 29,602 crore in Q2 FY22 over Q1 FY22.

On a year-on-year basis, Infosys' net profit and revenue from operations in Q2 FY22 increased 11.9% and 20.5%, respectively. Revenues in constant currency terms grew by 19.4% YoY and 6.3% QoQ. Operating margin stood at 23.6%, decline of 1.8% YoY and 0.1% QoQ. The board has announced interim dividend of Rs 15 per share for FY22.

The company announced large deal signings of $2.15 billion. Revenue guidance for FY22 is revised upwards to 16.5%-17.5%. Margin guidance is retained at 22%-24%.

Wipro rose 2.05%. The IT major reported 9.6% fall in consolidated net profit to Rs 2,930.7 crore in Q2 FY22 from Rs 3,242.6 crore in Q1 FY22. Revenue from operations increased by 7.8% QoQ to Rs 19,667.4 crore during the quarter.

On a year-on-year basis, the IT firm's net profit and revenue from operations in Q2 FY22 increased 18.9% and 30.1%, respectively.

The IT Services segment revenue was at $2,580 million, an increase of 6.9% QoQ and and 29.5% YoY. The Non-GAAP constant currency IT Services segment revenue increased by 8.1% QoQ and 28.8% YoY. The IT Services operating margin for the quarter was at 17.8%, down 104 bps on a sequential basis.

Wipro expects revenue from its IT Services business to be in the range of $2,631 million to $2,683 million. This translates to a sequential growth of 2% to 4%, the company said.

Shares of Tata Group companies saw strong demand with heavy volumes. Tata Chemicals (up 14.16%), Tata Investment Corporation (up 14%) Tata Power (up 14.48%), Indian Hotels Company (up 8.13%), Tinplate Company of India (up 4.72%), Nelco (up 5%), Tata Communications (up 4.51%), Tata Consumer Products (up 3.92%), Titan Company (up 1.71%) and Tata Steel (up 1.90%) advanced.

Tata Motors surged 20.43%. The auto major and and TPG Rise Climate entered into a binding agreement whereby TPG Rise Climate along with its co-investor ADQ, shall invest in a subsidiary of Tata Motors that will be newly incorporated.

TPG Rise Climate along with co-investors shall invest Rs 7,500 crore in compulsory convertible instruments to secure between 11% to 15% stake in this company translating to an equity valuation of up to $9.1 billion.

The new company shall leverage all existing investments and capabilities of Tata Motors and will channelise the future investments into electric vehicles, dedicated BEV platforms, advanced automotive technologies and catalyse investments in charging infrastructure and battery technologies. Over the next 5 years, this company will create a portfolio of 10 EVs and in association with Tata Power, catalyse the creation of a widespread charging infrastructure to facilitate rapid EV adoption in India.

Index major Reliance Industries (RIL) rose 1.02%. Reliance New Energy Solar (RNESL), a wholly owned subsidiary of RIL, has invested $29 million as a strategic lead investor in Germany-based NexWafe GmbH's (NexWafe) Series C financing round.

Separately, RNESL and Denmark-based Stiesdal have signed a cooperation agreement for technology development, and manufacturing of Stiesdal's hydrogen electrolyzers in India.

Power Grid Corporation of India rose 3.41% after the state-owned transmission player's board okayed an investment of Rs 14.23 crore for an electric vehicle charging station in Navi Mumbai and to create an arm to undertake telecom and digital technology businesses.

Domestic equity indices settled higher after a volatile session on Tuesday. Negative global cues, high crude oil prices and a weak rupee capped gains. Barring the Nifty IT index, all other sectoral indices on the NSE ended in the green. PSU banks rallied while consumer durables stocks extended gains in anticipation of festive season sales.

The S&P BSE Sensex rose 148.53 points or 0.25% at 60,284.22. The Nifty 50 index rose 46 points or 0.26% to 17,991.95. Both the indices settled at record closing levels.

After opening above 17,900 mark, the Nifty dropped below 17,870 in early afternoon trade. However, a fresh wave of buying support in late trade pushed the index briefly above 18,000 level.

Titan Company topped the charts today with a rise of 5.55%. Bajaj Auto (up 3.28%), SBI (up 2.96%) and Reliance Industries (up 0.66%) were other major gainers.

HCL Technologies (down 4.04%) was the biggest loser. Followed by Tech Mahindra (down 1.84%), UltraTech Cement (down 1.13%) and TCS (down 0.88%).

In the broader market, the S&P BSE Mid-Cap index rose 0.65% while the S&P BSE Small-Cap index was up 0.26%.

On the BSE, 1,772 shares rose, while 1,573 shares declined and 133 shares were unchanged.

The NSE's VIX index, a gauge of market's expectation of volatility over the near term, fell 1.47% to 15.85.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 75.52 from its previous closing of 75.36.

In the commodities market, Brent crude for December 2021 settlement fell 6 cents or 0.07% to $83.59 a barrel.

India is heavily dependent on oil imports for satisfying its domestic demand. A high crude price directly maps into a high trade deficit and in turn a high current account deficit (CAD). A crude price shock also leads to a spike in domestic inflation.

MCX Gold futures for 3 December 2021 settlement rose 0.37% to Rs 47,226.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.327% as compared with its previous closing of 6.34%.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was flat at 94.32.

The yield on the benchmark 10-year U.S. Treasury note stood at 1.60%, lifted by the prospects of tighter monetary policy.

Global Cues:

European shares fell across the board while most Asian stocks ended in the red. Higher commodity prices and rising bond yields weighed on stocks.

Goldman on Monday lowered its 2022 growth estimate for the United States to 4% from 4.4% and took its 2021 estimate down a tick to 5.6% from 5.7%. The firm cited the expiration of fiscal support from Congress and a slower-than-expected recovery in consumer spending, specifically services.

Stocks in Action:

G M Breweries surged 13.99% after the company's net profit surged 94.92% to Rs 21.85 crore on 59.69% increase in net sales to Rs 115.95 crore in Q2 FY22 over Q2 FY21. Profit before tax (PBT) jumped 94.80% to Rs 29.20 crore in Q2 FY22 over Q2 FY21. Net cash from operating activities surged to Rs 51.54 crore as on 30 September 2021 compared with Rs 1.41 crore as on 31 March 2021

Krsnaa Diagnostics dropped 6.65% after the company's net profit declined 44.56% to Rs 12.54 crore on 27.9% decline in net sales to Rs 108.26 crore in Q2 FY22 over Q2 FY21.

Tata Metaliks tumbled 6.11% after the company's net profit declined by 33.4% to Rs 54.62 crore in Q2 FY22 from Rs 82 crore in Q2 FY21. Revenue from operations, however, rose by 24.1% YoY to Rs 644.84 crore during the quarter. Total expenses increased by 31.4% to Rs 566.95 crore in Q2 FY22 over Q2 FY21, due to a sharp rise in raw material costs (up 51.5% YoY).

Delta Corp rallied 4.74% after the company reported net loss of Rs 22.57 crore in Q2 FY22, lower than net loss of Rs 54.91 crore in Q2 FY21. Net sales surged 94.74% to Rs 74.72 crore in Q2 FY22 over Q2 FY21. On a sequential basis, net sales declined 1.52% in Q2 FY22 from Q1 FY22. The income from casino gaming division fell to Rs 40.05 crore in Q2 FY22 as against Rs 41.43 crore in Q1 FY22. The revenue from hospitality division rose 27.60% to Rs 12.53 crore from Rs 9.82 crore in the previous quarter.

Ujjivan Small Finance Bank jumped 10.82% after the bank's total deposits increased 31% to Rs 14,090 crore in Q2 FY22 from Rs 10,743 crore in Q2 FY21. The total deposits have risen by 3% from Rs 13,673 crore in Q1 FY22. CASA ratio was at 22% as on 30 September 2022 as against 16% as on 30 September 2021 and 20% as on 30 June 2021.

Hester Biosciences surged 4.72% on reports that Bharat Biotech's Covaxin has received emergency use approval for children in the 2-18 years age group.

In May this year, Gujarat Covid Vaccine Consortium (GCVC) signed a pact with Bharat Biotech International towards contract manufacturing for the drug substance for Covaxin. The GCVC comprises Gujarat Biotechnology Research Centre (GBRC) (a Government of Gujarat undertaking), Hester Biosciences and Omnibrx Biotechnologies.

Schaeffler India jumped 5.77% after the company said its board will consider a stock split on 28 October 2021.

Trigyn Technologies hit an upper circuit limit of 10% at Rs 137.90 after the company said its subsidiary secured a staff augmentation contract from the New York City Housing Authority (NYCHA). The contract is for a potential duration of five years. The contract has a maximum fee of $50 million and contains a provision to increase the maximum fee to $125 million.

Equity benchmarks ended with decent gain on Monday, rising for the third straight session. Gains were capped due to mixed global cues. The Nifty closed below the crucial 18,000 mark after hitting a record high of 18,041.95 in afternoon trade. Barring the IT index, all the sectoral indices on the NSE ended in the green. Banks, autos and realty shares were in demand.

After hitting a record high of 60,476.13, the S&P BSE Sensex pared gains to end higher by 0.13% at 60,135.78. The Nifty 50 index added 50.75 points or 0.28% at 17,945.95. Both the indices attained record closing high levels.

The NSE's VIX index, a gauge of market's expectation of volatility over the near term, rose 2.76% to 16.09.

Maruti Suzuki India (up 3.66%), ITC (up 2.74%), HDFC Bank (up 2.01%), ICICI Bank (up 1.46%) and HDFC (up 1.10%) supported the indices.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.55% while the S&P BSE Small-Cap index gained 0.60%.

The market breadth was positive. On the BSE, 1952 shares rose and 1481 shares fell. A total of 159 shares were unchanged.

The Sensex rose 1.6% and the Nifty rose 1.7% in three consecutive sessions.

New Listing:

Shares of Aditya Birla Sun Life AMC settled at Rs 699.65 on the BSE, at a discount of 1.73% compared with the issue price of Rs 712 per share. The scrip was listed at par with the initial public offer (IPO) price of Rs 712 per share. The stock hit a high of Rs 721 and a low of Rs 696 during the session. On the BSE, 6.80 lakh shares of the company changed hands in the counter.

The IPO of Aditya Birla Sun Life AMC received bids for 14.59 crore shares as against 2.77 crore shares on offer. The issue was subscribed 5.25 times. The issue opened for bidding on Wednesday (29 September 2021) and it closed on Friday (1 October 2021). The price band of the IPO was fixed at Rs 695-712 per share.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement rose 0.03% to Rs 47,051.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.3407% as compared with its previous closing of 6.318%.

In the commodities market, Brent crude for December 2021 settlement advanced $1.87 or 2.27% to $84.26 a barrel.

In the foreign exchange market, the partially convertible rupee fell to 75.36 from its previous closing of 74.99.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.18% to 94.24.

The yield on the benchmark 10-year U.S. Treasury note stood at 1.61%, lifted by the prospects of tighter monetary policy.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 237,878,939 with 4,851,945 deaths. India reported 227,347 active cases of COVID-19 infection and 450,782 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In last 24 hours, India recorded 18,132 new cases. The recovery rate currently stands at 98%, highest since March 2020. There were 21,563 recoveries in the last 24 hours taking the total recoveries to 3,32,93,478

Global Markets:

Most European shares were in the red while Asian stocks ended mixed on Monday as investors monitored inflation expectations and rising U.S Treasury yields.

US stock indexes ended lower Friday with technology stocks under pressure as bond yields rose after a monthly report on the labor market came in much weaker than expected.

The Labor Department's nonfarm payrolls report showed the US economy in September created the fewest jobs in nine months as hiring dropped at schools and some businesses were short of workers. The report said non-farm payroll employment rose by 194,000 jobs in September after climbing by an upwardly revised 366,000 jobs in August.

Despite the much weaker than expected job growth, the unemployment rate fell to 4.8% in September from 5.2% in August.

Stocks in Spotlight:

TCS slumped 6.32%. The IT major's consolidated net profit rose 6.84% to Rs 9,624 crore on 3.21% increase in net sales to Rs 46,867 crore in Q2 FY22 over Q1 FY22. Constant currency revenue grew 15.5% YoY. Operating margin fell 0.6% YoY and it rose 0.1% quarter-on-quarter (QoQ) to 25.6% in Q2 FY22. All verticals showed strong, double-digit YoY growth. Growth was led by the manufacturing vertical (+21.7%), followed by life sciences and healthcare (+19%), retail and CPG (+18.4%) and BFSI (+17%). Communications & media (+15.6%) and technology & services (+14.8%) witnessed accelerated growth.

Tata Motors surged 8.54% to Rs 415.65 after a foreign brokerage reportedly maintained its 'overweight' stance on the stock with a target price of Rs 448. The Tata Motors stock hit a 52-week high of Rs 420.40 in intraday today.

Reliance Industries (RIL) fell 0.74% to Rs 2651.15. Sterling & Wilson Solar (SWSL) jumped 5.72% to Rs 459.65.

Reliance New Energy Solar (RNESL), a wholly-owned subsidiary of RIL, executed definitive agreements with Shapoorji Pallonji and Company, Khurshed Daruvala and SWSL to acquire 40% stake post-money in SWSL through a series of transactions. SWSL will make a preferential allotment of 2.93 crore equity shares (equivalent to 15.46% post preferential share capital) at Rs 375 per share to RNESL.

In a separate announcement, RIL said that its wholly owned subsidiary, Reliance New Energy Solar (RNESL), has announced acquisition of 100% shareholding of Norway-based REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co, for an Enterprise Value of $771 million.

Solar Industries India jumped 3.81% after the company announced that it received orders worth Rs 1,471 crore from Coal India (CIL) to supply bulk explosives over a period of two years.

Power Mech Projects rose 6.30% after the company said it received two letter of intent worth Rs 448.60 crore. The first order worth Rs 391 crore is from Coastal Energen. The order calls for operation & maintenance of 2X660 MW Mutiara Thermal Power Plant in Tuticorin (Tamil Nadu). The second order worth Rs 57.60 crore is from NMDC. The order is for miscellaneous civil works for screening plant-III at Kirandul in Chattisgarh.

Saregama India hit an upper circuit limit of 5% to Rs 4216.80 after the company's consolidated net profit rose 16.87% to Rs 33.80 crore on 34.21% increase in net sales to Rs 145.09 crore in Q2 FY22 over Q2 FY21 The company's operating income before content charge, interest and depreciation (OIBCID) jumped 38% to Rs 53.50 crore in Q2 FY22 from Rs 38.70 crore in corresponding quarter last year. During the period under review, the company's revenues from music business jumped 21% to Rs 121.58 crore. Its revenues from TV & films division surged 238% to Rs 22.35 crore. The firm's revenues from publication division rose 9% to Rs 1.16 crore.

GOCL Corporation hit an upper circuit limit of 20% to Rs 328.50 after the company said that its wholly-owned subsidiary, IDL Explosives, has bagged an order worth Rs 592.45 crore from Coal India. The order is for supplying bulk explosives over a period of 2 years.

GMR Infrastructure jumped 9.13% on reports that GMR Group will invest Rs 6,300 crore in Hyderabad's Rajiv Gandhi International Airport to expand the aerodrome's capacity to 34 million passengers per annum by 2024. The media reported that funds for the expansion have been secured and most part of the finance is through bonds issuance.

JSW Steel rose 0.96% after the company reported group combined crude steel production at 5.07 million tonnes for Q2 FY22, up by 29% from 3.92 million tonnes recorded in Q2 FY21. On a sequential basis, the growth in crude steel production has, however, remained flat. The crude steel production includes the production at jointly controlled entities viz. Bhushan Power & Steel (BPSL) and JSW Ispat Special Products (JISPL). JSW Steel said that the capacity utilization at standalone level was at 91% in Q2 FY22.

The domestic stock market ended with strong gains on Friday after the Reserve Bank of India's Monetary Policy Committee decided to maintain its status quo on interest rate. IT shares and PSU banks rallied while realty shares tumbled. Global stock markets were mixed ahead of US jobs data due later in the day.

The barometer index, the S&P BSE Sensex, advanced 381.23 points or 0.64% to 60,059.06. The Nifty 50 index added 104.85 points or 0.59% to 17,895.20.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 3.11% to 15.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.15% while the S&P BSE Small-Cap index gained 0.83%.

The market breadth was positive. On the BSE, 1,847 shares rose and 1,458 shares fell. A total of 148 shares were unchanged.

RBI's six-member Monetary Policy Committee (MPC) at its meeting today (8 October 2021) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4%. The reverse repo rate under the LAF remains unchanged at 3.35% and the marginal standing facility (MSF) rate and the bank rate at 4.25%.

The MPC also decided to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward.

These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth, RBI statement said.

Air India Stake Sale:

The Tata Group will take over state-owned Air India. Talace Pvt. Ltd., the SPV of Tata Sons, will pay Rs 18,000 crore to acquire Air India from the government. Of the total money 15% will go to the government and the rest will go in clearing debt. Transaction to be closed by December 2021.

India's state-run banks, which have major exposure to Air India, rose across the board. The Nifty PSU Bank index rose 1.65% to 2,550.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement rose 0.20% to Rs 46,920.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.3164% as compared with its previous closing of 6.267%.

In the commodities market, Brent crude for December 2021 settlement advanced 69 cents or 84% to $82.64 a barrel.

In the foreign exchange market, the partially convertible rupee fell to 74.99 from its previous closing of 74.79.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 94.13.

The yield on the benchmark 10-year U.S. Treasury note stood at 1.596%, lifted by the prospects of tighter monetary policy.

Global Markets:

Most European shares declined while most Asian stocks advanced. Chinese stocks jumped on the first day of trade after a week-long holiday.

Investors eyed key US jobs data for any fresh insight into the timing of Federal Reserve tapering.

Activity in China's services sector returned to growth in September as a major COVID-19 outbreak in the eastern province of Jiangsu receded, a private-sector survey showed on October 8. The Caixin/Markit services Purchasing Managers' Index (PMI) rose to 53.4 from 46.7 in August.

US stocks rallied on Thursday as Senate leaders moved to avert a US debt default. Senate Majority Leader Chuck Schumer announced Thursday that lawmakers have reached a deal on a short-term debt ceiling increase after hours of discussion with Minority Leader Mitch McConnell.

Markets will look ahead to Friday's key September jobs report as the Federal Reserve prepares to slow its $120 billion-per-month bond-buying program.

Buzzing Segment:

Shares of hotel companies were in demand after the Indian government announced that it will start issuing tourist visas from 15 October 2021.

Kamat Hotels (up 16.98%), Lemon Tree Hotel (up 6.94%), Asian Hotels (N) (up 3.53%), Indian Hotels Co (up 3.29%), EIH Associated Hotels (up 3.13%), Asian Hotels (W) (up 2.58%), TajGVK Hotels (up 2.01%), EIH (up 1.24%), Asian Hotels (E) (up 1.10%), ITDC (up 0.74%) and Chalet Hotels (up 0.15%) surged.

India's Ministry of Home Affairs (MHA) on Thursday said it will begin granting fresh tourist visas to foreigners coming to India through chartered flights with effect from 15 October 2021. Foreign tourists traveling to India by flights other than chartered aircraft will be able to do so with effect from 15 November 2021.

With this, the restrictions placed on visa and international travel stand further eased given the present overall COVID-19 situation, the home ministry statement added.

Stocks in Spotlight:

IT major TCS rose 1.10% ahead of its Q2 results today, 8 October 2021. The stock hit a record high of Rs 3990 in mid-morning trade today.

Infosys (up 1.91%) will announce Q2 results on Wednesday, 13 October 2021.

Reliance Industries (RIL) added 3.84%. RIL on Thursday announced the launch of its premium retail destination, Jio World Drive (JWD), in Mumbai's Bandra Kurla Complex. It will be home to prominent international and Indian brands, 27 culinary outlets, Mumbai's first rooftop Jio Drive-In Theatre, an open-air weekend community market, pet-friendly services, a dedicated pop-up experience and other services.

JSW Energy gained 0.7%. The company has signed a contract with GE Renewable Energy for supply of 810 MW of onshore wind turbines for the company's underconstruction pipeline of approximately 2.5 GW of renewable projects in India. The supply of the turbines will start by the second quarter of CY2022.

K P I Global Infrastructure jumped 7.06%. The company informed that it signed a new long-term Power Purchase Agreement (PPA) with GHCL, Bhilad for sale of 1.25 MW solar power for a period of 20 years under Independent Power Producer (IPP) business vertical.

Tata Motors rose 1.74%. The media reported that the auto major is seeking to buy Ford's units in Tamil Nadu and Gujarat states. According to reports, Ford's manufacturing plants could help Tata Motors augment capacity as it focuses on eco-friendly vehicles.

Separately, the media reported that TPG is in advanced talks with the Tata group to invest $1 billion-$1.5 billion in its electric vehicle unit. The group is also in talks with several Middle East-based sovereign wealth funds (SWFs) such as Abu Dhabi Investment Authority and Saudi Arabia's PIF to come as anchor investors on the deal, the report added.

Bajaj Auto shed 0.37%. The auto major on Friday announced the resignation of Soumen Ray as the company's chief financial officer with effect from 20 December 2021. The company further added that it is in the process of identifying and appointing a suitable person for the said position.

Shares of Multi Commodity Exchange Of India (MCX) surged 5.56% to Rs 1923.80. Shares of Indian Energy Exchange (IEX) rose 8.86% to Rs 696.95.

The Union power ministry said on Thursday that the Supreme Court has approved the introduction of new market instruments for electricity trading as per the terms mutually agreed between the Central Electricity Regulatory Commission (CERC) and the Security Exchange Board of India (SEBI).

CERC and SEBI had earlier moved to the Supreme Court to ascertain who will regulate electricity derivatives trading. Based on the recommendations, both SEBI and CERC have come to an agreement that CERC will regulate all the physical delivery based forward contracts whereas the financial derivatives will be regulated by SEBI.

The domestic equity indices settled with significant gains on Thursday. Positive global cues and robust quarterly business updates by domestic firms supported buying. The Nifty closed a tad below the 17,800 mark after hitting the day's high of 17,857.55 in afternoon trade. Bulls took the charge ahead of RBI's monetary policy outcome and Q2 earnings season that is set to kick off on Friday, 8 October 2021.

The barometer index, the S&P BSE Sensex, surged 488.10 points or 0.82% to 59,677,83. The Nifty 50 index added 144.35 points or 0.82% to 17,790.35.

The NSE's VIX index, a gauge of market's expectation of volatility over the near term, dropped 6.79% to 16.16. The weekly index options on the NSE expired today.

Buying momentum was broad based with realty, autos and consumer durables stocks in the limelight. Oil & gas stocks corrected after a recent rally.

In the broader market, the S&P BSE Mid-Cap index rose 1.68% while the S&P BSE Small-Cap index gained 1.38%. Both the indices outpaced the benchmarks.

The market breadth favoured the bulls. On the BSE, 2,216 shares rose and 1,084 shares fell. A total of 143 shares were unchanged.

The Reserve Bank of India's (RBI) monetary policy committee (MPC) began its two-day policy meet on 6th October 2021. The MPC will announce its interest rate decision on Friday, 8 October 2021.

IT major TCS (up 2.17%) will announce its Q2 results on Friday, 8 October 2021.

Infosys (up 1.04%) will announce Q2 results on Wednesday, 13 October 2021.

Among telecom shares, Bharti Airtel rose 0.17% while Vodafone Idea fell 0.61%.

The government on Tuesday notified its decision to permit 100% foreign direct investment (FDI) under automatic route in the telecom services sector.

Till now, only 49% of FDI was allowed through the automatic route and anything beyond it had to mandatorily go through the government route.

In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020.

Index heavyweight Reliance Industries (RIL) rose 0.47% to Rs 2,572.15. RIL controls Reliance Jio Infocomm.

Meanwhile, RIL informed on Thursday that Reliance Retail Ventures (RRVL) through its wholly owned subsidiary, 7-India Convenience Retail, has entered into a master franchise agreement with 7-Eleven, Inc. for the launch of 7-Eleven convenience stores in India. The first 7-Eleven store is set to open on Saturday (9 October) in Andheri East, Mumbai.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee rose to 74.79 from its previous closing of 74.98.

MCX Gold futures for 3 December 2021 settlement fell 0.6% to Rs 46,879.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.2674% as compared with its previous closing of 6.276%.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 94.19.

The yield on the benchmark 10-year U.S. Treasury note stood at 1.521%, lifted by the prospects of tighter monetary policy.

In the commodities market, Brent crude for December 2021 settlement fell 90 cents or 1.11% to $80.18 a barrel.

Global markets:

US Dow Jones futures were up 207 points, indicating a positive opening in the US stocks.

Shares in Europe and Asia advanced on Thursday. Sentiment turned positive after US stocks staged a comeback from their lows as investors bought the dip in technology names.

Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.

US private payrolls increased more than expected in September as COVID-19 infections started subsiding, boosting hiring at restaurants and other high-contact businesses. Private payrolls increased by 568,000 jobs last month, the ADP National Employment Report showed. Data for August was revised lower to show 340,000 jobs added instead of the initially reported 374,000.

Investors are awaiting payrolls data due Friday, with investors anticipating that a reasonable figure will mean the US Federal Reserve will begin tapering its massive stimulus programme at its November meeting.

Buzzing Segment:

Shares of ONGC, GAIL (India) and Oil India corrected after crude oil prices declined in the international markets. The correction was triggered by higher than expected U.S. crude stockpiles and comments from Russia, offering to ease a natural gas crisis.

ONGC (down 4.58%), GAIL (India) (down 4%) and Oil India (down 2.38%) tumbled.

U.S. crude inventories expanded by 2.35 million barrels last week, according to government data. Crude supplies at the key storage hub in Cushing, Oklahoma, expanded for a second week.

Russian President Vladimir Putin reportedly said record volumes of natural gas could potentially be exported to Europe this year as the continent faces an energy crunch. Gas prices fell after his remarks.

The Nifty Oil & Gas index shed 0.27% to 7,995.80.

Stocks in Spotlight:

Titan Company jumped 10.69%. The company said its jewellery segment revenue jumped 78% year on year (YoY) in Q2 FY22. CaratLane's business revenue jumped 95% year on year in Q2 FY22. The watch segment revenue grew by 73% YoY in Q2 FY22. Eye wear segment revenue surged by 74% YoY in Q2 FY22.

Mahindra & Mahindra (M&M) spurted 5.32%. M&M started bookings of its XUV700 model today. The company said it clocked 25,000 bookings in 57 minutes of its booking commencement. Bookings will now reopen starting 10 am on 8th October.Reliance Industries added 0.88% to Rs 2582.80. RIL informed that Reliance Retail Ventures (RRVL) through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. for the launch of 7-Eleven convenience stores in India.

Sobha surged 16.68%. The company's new sales rose by 50.62% to 13.48 lakh square feet in Q2FY22 versus 8.91 lakh square feet in Q2FY21. Total sales value jumped 49.32% to Rs 1,030.2 crore in Q2 FY22 from Rs 689.9 crore in Q2 FY21. The company achieved best-ever quarterly sales volume of 13.48 lakh square feet of super built-up area. It also achieved best ever Sobha share of sale value of Rs 854.2 crore. Average cost of borrowing has further come down during the quarter.

Macrotech Developers soared 6.50%. The company's pre-sales jumped 109% quarter on quarter and 88% year on year to Rs 2,003 crore in Q2 FY22. Collections grew by 12% quarter on quarter and 73% year on year to Rs 1,912 crore in Q2 FY22. The company's net debt for India business stood at Rs 12,508 crore, which is around the same level as Q1. The company estimates that the net debt will be at Rs 10,000 crore at the end of fiscal year in the India business.

Kalyan Jewellers India jumped 13.07%. The company said it saw continued robust momentum in both footfalls and revenue across all its markets in India and Middle East in Q2 FY22. The jewellery retailer said it witnessed revenue growth of about 60% for its India operations during the recently concluded quarter, as compared to the same period in the previous year. Kalyan's online jewellery platform, Candere, recorded a revenue growth of about 45% during the quarter, compared to the same period during the last year.

Piramal Enterprises (PEL) rose 1.57% after the company said its board approved the demerger of the pharmaceuticals business and simplification of the corporate structure.

The pharmaceuticals business will get vertically demerged from PEL and consolidated under Piramal Pharma. Shareholders of PEL will get 4 shares of Piramal Pharma for every 1 share in PEL, in addition to their existing holding in PEL. Post the demerger, Piramal Pharma will become one of the large pharma companies listed on NSE and BSE.

Further, PHL Fininvest, the non-banking financial company (NBFC), will be amalgamated with PEL to create a large listed NBFC. The merged housing finance company, post the DHFL acquisition, will remain a wholly-owned subsidiary of PEL.

Ramkrishna Forgings jumped 3.86%. The company signed a Memorandum of Understanding (MoU) with a US based technology partner for the development of electric vehicle powertrain components for the Indian EV market.

Balaji Amines fell 1.62%. The company said that a small incident took place at the company's unit III demethylformamide (DMF) plant which caused leakages/breakdown. While rectifying this the company added some debottlenecking activities to increase capacity. During this period, the DMF plant will not be in operational.

Srei Infrastructure Finance hit a lower circuit of 5% at Rs 7.39. The media reported that the Bombay High Court on Thursday dismissed the petition by promoters of Srei Group challenging the move by the Reserve Bank of India to supersede the boards of Srei Infrastructure Finance (SIFL) and Srei Equipment Finance (SEFL).

The petition was reportedly filed by promoters of SIFL and SEFL to stay the insolvency proceedings initiated by the RBI. It was taken up for hearing by the Bombay High Court on Thursday and it said it is not inclined to entertain the matter after hearing both the sides, reports added.

The RBI had on 4 October 2021 superseded the boards of SIFL and SEFL, paving the way for their resolution. It has also appointed Rajneesh Sharma, ex-chief general manager, Bank of Baroda as the administrator of the companies. The RBI can now move the National Company Law Tribunal to initiate proceedings against the two companies.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 236,467,427 with 4,827,642 deaths. India reported 244,198 active cases of COVID-19 infection and 449,856 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 92,58,17,589 COVID-19 vaccine doses have been administered in the country so far, with over 42.91 lakh doses being given yesterday, according to the Co-WIN dashboard.