▫️Indian markets snapped their 4 day loosing streak and ignored weak global cues. The market ended positive on Monday, on the back of high domestic economy revival.
▫️ Sensex and Nifty closed at 59,299 (+0.91%) and 17,691 (+0.91%).
▫️Market Breadth was strong with advance decline ratio of 1353:458. Midcap and Smallcap indices continued to outperform benchmarks.
▫️All sector indices ended the day in green, wherein Metals, PSU Bank, Realty and Media gained the most.
▫️Ruppee fell by 19 paise to six week low of 74.31, due to strong dollar and rising crude oil prices.
▫️ Gold prices dipped marginally, and remained above the ₹46,000 mark.
▫️ Despite the oil market is facing supply, OPEC+ said it will stick to its gradual increase of supply plan. This led to jump in oil prices, as it breached 2014 highs. Brent Crude is now trading over $81.50.
▫️ Rising inflation and bond yields continue to hurt the US markets, which is negatively impacting high growth tech stocks.
▫️ Hence, US markets ended approximately 1% down yesterday.
▫️ Today morning US futures are down by 0.30%, while Asia has opened in red sea. Negative opening of SGX is also indicating lack lustre start for the Indian markets.
▫️Stocks in F&O ban: NATIONALUM, CANBK, PNB, SAIL, BHEL, SUNTV and IBULHSGFIN.
▫️ India’s Business Resumption Index remained above the pre pandemic level for the week ended on October 3.
▫️Invesco urged NCLT, to order ZEE to conduct EGM, which should be chaired by retired high court judge.
▫️Demand for work under social welfare MG-NREGS scheme hit 17 month low, indicating economic revival.
▫️RBI superseded Board of two SREI NBFCs, which will now be moved to Insolvency Court, for resolution.
▫️ Govt. has extended credit guarantee scheme for MSMEs till March, 2022.
▫️E-way bill generation stood highest in 6 months in September, reflecting trade recovery.
▫️Adani Green Energy completed the acquisition of SB Energy India’s green assets for ₹26,000 crores.
▫️Senvion bags order for JSW’s 591MW wind turbine project.
▫️ Residential sales in India’s 7 major cities increased by 47% between Jan-Sep.
▫️ Hindustan Zinc mined metal production in Q2, increased by 4%.
▫️US based insurance giant MetLife to raise its stake in India ventures (PNB MetLife Insurance Company).
▫️ Evergrande Group to raise $5 billion through property unit sale. China is making efforts to ring fence Evergrande to avoid contagion.
▫️Federal Bank’s deposits and advances grew by 10% in Q2.
▫️ Hero Moto to sell 1 lakh electric scooters in FY22.
▫️Adani Port is set to win the bid to run dry bulk cargo terminal at Haldia Dock.
▫️ Merck’s promising drug against Covid raises expectations from Indian partners (MSN Lab., Divis Lab. and Optimus Pharma).
▫️DCGI approved phase 3 trial of Zydus Cadilla covid vaccine.
▫️ Maharashtra imposed lockdown in 61 villages from October 4.
▫️OPEC+ nations on Monday decided against output boost, which caused oil prices to reach 7 year high .
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