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25-Oct-2021   08:31 Hrs IST Domestic indices likely to make flat-to-positive start of F&O series expiry week <p align="justify">Indian markets ended lower on Friday extending losses to the fourth session in a row. Losses in auto, metal, IT and pharma shares dragged the market lower though gains in banking shares limited the downside. Today, start of new week is likely to be flat-to-positive amid mixed global cues. Markets may witness volatility this week amid derivatives expiry on Thursday. Traders will be getting encouragement as Industry chamber PHDCCI said it expects strong GDP growth in the coming quarters with the economic recovery gaining momentum. Out of the 12 lead economic and business indicators of QET (Quick Economic Trends), tracked by the industry body, nine have shown an uptick in the sequential growth for the month of September 2021 as compared to six showing the uptrend in August 2021. Some support will come as India Ratings &amp; Research (Ind-Ra) in a report said the recently-concluded normal monsoon season will provide a much-needed cushion to both India's agriculture and inflation in 2021-22. Meanwhile, the government may introduce two key financial sector bills, including the proposed law for facilitating privatisation of public sector banks as announced by the finance minister in the Budget. However, there may be some cautiousness as in its recent Regional Economic Outlook (REO), the IMF notes that the pandemic has taken a turn for the worse in Asia since the spring, along with the region's growth outlook. The growth projection for the Asia and Pacific region is downgraded by more than 1 percent to 6.5 percent compared to the April 2021 forecasts--more than for any other region. Traders may be concerned as foreign portfolio investors (FPIs) have turned net sellers in Indian market by pulling out Rs 3,825 crore in October so far. There will be some buzz in power stocks as the Ministry of Power announced new rules to sustain economic viability of the sector, ease financial stress of various stakeholders and ensure timely recovery of costs involved in electricity generation. Real estate industry stocks will be in focus as Niti Aayog CEO Amitabh Kant said the real estate sector plays a multiplier effect in the development of the economy and is expected to reach a market size of $1 trillion by 2030, accounting for 18-20 per cent of India's GDP. There will be some reaction in textile industry stocks as Union Minister Piyush Goyal reviewed the Amended Technology Up-gradation Fund Scheme (ATUFS) to boost the Indian textile industry by enabling the ease of doing business, bolstering exports and fuelling employment. Meanwhile, FSN E-Commerce Ventures, the parent company of Nykaa, will launch its IPO on Thursday, October 28, to raise over Rs 5,355 crore at a price band of Rs 1,085-1,125 per share. There will be some important earnings announcements too to keep the markets buzzing.</p><p align="justify">The US markets ended mostly lower on Friday after comments on stimulus tapering from Federal Reserve Chair Jerome Powell spooked markets trading at record levels. Asian markets are trading mixed on Monday ahead of a week packed with major quarterly earnings announcements</p><p align="justify">Back home, Indian equity benchmarks ended in the red for the fourth consecutive day on Friday, amid volatility, due to selling pressure in heavyweights such as ITC, Maruti Suzuki and Infosys. The benchmark indices had a gap-up opening on the back of positive global cues. Traders got encouragement as Icra Rating has said that the economy finally looks nearly out of the pandemic woods, helping the Q2 GDP print at 7.7 per cent, with half of the 15 high-frequency indicators recovering to the pre-pandemic levels in the second quarter. Some solace also came with Commerce and Industry Minister Piyush Goyal's statement that all indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are pointing towards a clear and sharp economic recovery in the country. Adding more optimism, Union Minister Hardeep Singh Puri has exuded confidence that India will become a $5-trillion economy by 2024-25 and $10-trillion by 2030. On economic growth momentum, he said petrol consumption is 16% higher than pre-COVID levels, while diesel consumption is 10-12% higher. He noted that even the stock market has registered a growth of 250% since March 2020. However, markets were unable to sustain their early gains and slipped into the negative zone in noon deals, as traders turned cautious as Union Power Secretary Alok Kumar stressed on the need to have strategic fuel reserves to insulate the nation from supply shocks for at least a month, in the backdrop of the ongoing coal shortage at power plants in the country. Some concern also came with private report stating that the number of organisations in the country are concerned that their existing data protection solutions will not meet all future business challenges, including cyber threats. However, losses remain capped as some optimism remained among traders with Niti Aayog Vice Chairman Rajiv Kumar's statement that Indian economy is expected to grow 10.5 percent or more in the current fiscal. He also said that modernisation of the retail sector is very much on the cards. Finally, the BSE Sensex fell 101.88 points or 0.17% to 60,821.62 and the CNX Nifty was down by 63.20 points or 0.35% to 18,114.90.<br></p>
22-Oct-2021   08:26 Hrs IST Markets likely to start Friday's session on positive note <p align="justify">Indian markets extended losses to third straight day on Thursday, dragged by IT, metal and consumer stocks. Sharp gains in financial shares kept the downside in check. Today, benchmarks are likely to start session on a positive note, amid mixed global cues. Traders will be taking encouragement with Niti Aayog Vice Chairman Rajiv Kumar's statement that Indian economy is expected to grow 10.5 per cent or more in the current fiscal. He also said that modernisation of the retail sector is very much on the cards. Some support might also come as ICRA stated that with half of the 15 high-frequency indicators recovering to the pre-pandemic levels in the second quarter, the economy finally looks nearly out of the pandemic woods, helping the Q2 GDP print at 7.7 per cent. Additionally, Union Minister Hardeep Singh Puri has exuded confidence that India will become a $5-trillion economy by 2024-25 and $10-trillion by 2030. Traders may take note of Commerce and Industry Minister Piyush Goyal's statement that all indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are pointing towards a clear and sharp economic recovery in the country. Meanwhile, according to Reserve Bank of India data, the credit dispensed by commercial banks in India rose by 6.47 per cent on a year-on-year basis (Y-o-Y basis) to Rs 110.3 trillion as on October 08, 2021. The pace of credit is shed higher than 5.7 per cent a year ago. However, traders may be concerned as foreign secretary Harsh Vardhan Shringla said even as trade between India and China continues to expand, it remains unbalanced and is tilted in the favour of China. With a deficit at $47 billion in the first nine months of this year, it the largest deficit India has with any country. There may be some cautiousness as Union Power Secretary Alok Kumar stressed on the need to have strategic fuel reserves to insulate the nation from supply shocks for at least a month, in the backdrop of the ongoing coal shortage at power plants in the country. Banking stocks will be in focus with a report that the government is likely to pump capital in public sector banks during the last quarter of the current financial year to meet the regulatory requirements. The government in the Budget 2021-22 has made an allocation of Rs 20,000 crore for the capital infusion in the state-owned banks. Also, the focus will be on Mukesh Ambani-led Reliance Industries (RIL) that is scheduled to announce its results for the September quarter (Q2FY22) later in the day. There will be some other earnings announcements too to keep the markets buzzing.</p><p align="justify">The US markets ended mostly higher on Thursday as sentiments boosted by such high-profile stocks as Tesla Inc and Microsoft Corp but a tumble in IBM shares weighed on the Dow. Asian markets are trading mixed on Friday with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading down 0.1 percent.</p><p align="justify">Back home, Indian equity benchmarks closed lower for the third day in a row on weekly F&amp;O expiry day, as index heavyweights such as Asian Paints, Reliance Industries and Infosys reeled under selling pressure. Key Indian indices slumped after opening in the green, as traders turned cautious with report stated that amid concerns about the rising oil prices, India, the world's third-largest energy consumer, has warned that high oil prices will undermine global economic recovery, and nudged Saudi Arabia and other OPEC nations to work towards affordable and reliable supplies. Petrol and diesel prices have shot up to record highs across the country after relentless price increases since early May. Some cautiousness also came as data showed that Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,843.09 crore, while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1,680.73 crore in the Indian equity market on Wednesday. However, markets managed to recover some lost ground in the last hour of trade, as some optimism remained among traders with Moody's Analytics in a report said that a rebound in industrial production and demand owing to easing mobility restrictions fuelled India's current recovery with production appearing to have regained lost ground during the second Covid-19 wave. However, it has flagged concerns around volatility in inflation caused by rising food and fuel prices. Some support also came with Ratings and Research's (Ind-Ra) report stated that it witnessed a continuous recovery in the average current collection efficiency to 80 percent in August 2021 from 79 percent in July 2021 across its 143 rated securitisation transactions. It noted that there has been a 10 percentage point increase in the collection efficiency since May 2021 for all the outstanding transactions, after reducing by 13.4 percentage points from March-May 2021. Finally, the BSE Sensex fell 336.46 points or 0.55% to 60,923.50 and the CNX Nifty was down by 88.50 points or 0.48% to 18,178.10. <br></p>
21-Oct-2021   08:24 Hrs IST Benchmarks likely to start session on positive note
20-Oct-2021   08:21 Hrs IST Markets likely to make flat-to-positive start on Wednesday
19-Oct-2021   08:29 Hrs IST Benchmarks likely to extend previous session's gain with positive start
18-Oct-2021   08:24 Hrs IST Markets likely to make flat-to-positive start amid mixed global cues
14-Oct-2021   08:20 Hrs IST Domestic markets likely to open in green ahead of WPI data
13-Oct-2021   08:26 Hrs IST Benchmarks likely to make flat-to-positive start amid mixed global cues
12-Oct-2021   08:27 Hrs IST Markets likely to make weak start ahead of macroeconomic data
11-Oct-2021   08:24 Hrs IST Markets likely to make flat-to-negative start of the new week