Expect market to open on a positive note on account of global cues. U.S. stocks ended sharply higher Friday after a batch of mixed economic data, kicking off October with gains although major indexes posted losses for the week. Initial optimism on Wall Street was pegged partly to news that Merck & Co and partner Ridgeback Biotherapeutics, said their oral antiviral treatment for COVID-19 reduced the risk of hospitalization or death by 50% for patients with mild or moderate cases. Dow Jones surged nearly 500 points or 1.4% and Nasdaq Composite gained 0.7%. SGX Nifty gained 0.4% while US Dow Future is flat to negative. · European bourses ended on a negative note after eurozone inflation rose in September from the previous month. Annual inflation in the euro area is expected to hit 3.4% in September, compared with 3% in August and -0.3% a year earlier. Both Germany and UK Index declined over half percent each while France Index ended flat. · Asian stocks started the week with mixed bag after their U.S. peers closed higher Friday, as prospects for a pickup in growth outweighed concern over inflation pressures. Nikkei Index declined 0.4% while Australia Index gained 1%. China market is shut today. · Oil prices rose 1% to $79/bbl as traders await a key meeting by the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+. · GOLD prices spiked up 2 per cent to $1760/ounce on Friday after a dismal US weekly jobs report stayed the hand of an appreciating dollar, and an upsurge in the 10-year Treasury note's yield besieged bullion prices. · Expects market will be bounce back on account of strong rally in the global market. Stock specific action may continue while it will be eventful week like TCS results, RBI policy (Friday), PMI data. Undertone bullish sentiment in the market on account of improved macro data, local fund buying interest and mixed bag auto monthly sales data · Events – OPEC + meeting, court to hear investors Invesco-Zee Entertainment case; Tata Motors to launch its mini SUV Punch. · Actionable – Buy Granules, Linde India and Camline Fine · Brokers Radar - Persistent Systems Raised to Neutral at Macquarie, Wipro Raised to Outperform at Macquarie; with TGT at 764, Mphasis Raised to Neutral at Macquarie with price TGT at 3,160, L&T Infotech Cut to Neutral at Macquarie with price TGT at 6,040, Mindtree Cut to Underperform at Macquarie with price TGT at 3,690. · Market Summary - Grasim Says India Authorities Sought $1.1B Tax on Capital Gains, GST Collections Stay Above Rs 1 Lakh Crore For Third Straight Month In August, Steel Strips Wheels Reports Highest Ever Quarterly Sales, Natco Pharma Launch Of Cancer Tablets In The U.S. Markets, ABB technology to improve quality and lower production costs for Tata Steel plant in India, Steel Strips Wheels Reports Highest Ever Quarterly Sales, Former Ford India MD joins Tata Motors, VST Tillers Surges on Pact for Developing EV Tractor Powertrain, Tata Is Said to Win Air India in Historic Deal Decades in Making, ICAs signed for all assets going to NARCL in first tranche: SBI. Hero Motocorp, TVS Motor, Eicher Motor announced impressive September monthly sales data. · Linde India gets approval for Merchant Air separation unit, Linde gets approval for 25tons/day unit as Dahej · Tata Motor – Tata Motor September sales at 59156 unit (up 28% YoY) – expectation 59715, Former Ford India MD joins Tata Motors Ford India's decision to end production in India and restructure its operations took the industry by surprise – Positive · Avenue Supermarts Q2FY22 standalone revenue jumps to Rs. 7649.64 crores (up 47% YoY)- positive · Hero Motocorp Sept sales at 530346 unit(down 26% YoY) – expectation 522474 unit – positive · Coal India: Production in September up 0.4% year-on-year to 40.7 MT versus 40.5 MT. Offtake up 3.6% year-on-year to 48.3 MT versus 46.7 MT.- positive
