View on market: Stay Cautious, be with quality business:

US equity futures and Australian shares climbed while Japanese stocks opened lower in mixed, cautious trading as investors await highly anticipated inflation data later Thursday. The support for US equities followed the sixth consecutive decline for the S&P 500, which fell to the lowest level since November 2020. Hong Kong equity futures fell, underscoring the cautious mood. The dollar held on to recent gains and the yen tumbled to a fresh 24-year low that puts traders on watch for intervention from Japan. Treasuries rallied. At 7:20 a.m., the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — fell 0.35% to 17,043. West Texas Intermediate crude was little changed at $87.27 per barrel. Bitcoin was little changed at $19,162.42.

Economic Calendar:

  • USD : CPI (MoM) (Sep) on 13th October, 2022
  • USD : Initial Jobless Claims on 13th October, 2022
  • INR : Trade Balance on 14th October, 2022
  • INR : WPI Inflation (YoY) (Sep) on 14th October, 2022

Q2FY23 Result Today: Infosys, Mindtree, Angel One, Anand Rathi Wealth, Aditya Birla Money, Cyient, Den Networks

Brokerage Radar:

MS ON WIPRO: UW, TP Rs 365; F2Q23 results & rev outlook for F3Q highlight potential risk to consensus EPS est; While stock has underperformed YTD, see this continuing as organic growth lags peers; Lack of a perceived floor due to lower payout policy vs. peers

NOMURA ON HCL TECH: Neutral, TP Raised to Rs 980; 2Q – beat on all counts; FY23 growth guidance lifted; Healthy deal wins & robust pipeline give comfort; Expect HCLT to deliver 18% EBIT margin in FY23F (-90bps y-y); Raise FY23-24F EPS by 4%

CLSA ONMARUTI: Sell, TP raised to Rs 7597; Near-term upbeat but we have a cloudy outlook for FY24; Increase passenger vehicle industry est. 6%-11% over FY23-25; but do not see MSIL gaining market share to justify its lofty val

International Markets:

U.S & Europe:

Particulars  12th October Chg. Chg.(%)
Nasdaq 10417.10 -9.09 -0.09
Dow 29210.85 -28.34 -0.10
FTSE 6826.15 -59.08 -0.86
CAC 5818.47 -14.73 -0.25
DAX 12172.26 -47.99 -0.39
Dow Fut.* 29253.70 42.90 0.15

Asian markets

Particulars 13th  October Chg. Chg.(%)
SGX Nifty 17034.50 -70.50 -0.41
Nikkei 26260.25 -136.58 -0.52
Straits Times 3046.17 -37.02 -1.20
Hang Seng 16514.06 -186.97 -1.12
Shanghai 3018.76 -6.75 -0.22

ADR Watch:

Particulars 12th October  Chg.   Chg.(%)
Dr. Reddy 51.12 -0.67 -1.29
HDFC Bank 56.87 0.40 0.71
ICICI Bank 20.87 -0.13 -0.62
Infosys 17.10 -0.03 -0.18
Tata Motor 23.67 0.20 0.85
Wipro 4.59 -0.16 -3.37

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 82.32 0.00
Brent 92.41 -0.04
Gold 1675.55 -0.12
Silver 18.933 -0.03

FIIs & DIIs:

Particulars 12th October 11th October
FIIs  -542.36 -4612.67
DIIs 85.32 2430.76

News Update:

Adani Ports and Special Economic Zone: Received letter of award from West Bengal Industrial Development Corporation Ltd. for development of deep-sea port at Tajpur, West Bengal on design, build, finance, operate and transfer basis.

Kirloskar Industries: SAT proceedings show that the tribunal dismissed appeal by the company against a SEBI order to pay a penalty of Rs 5 lakh for violating listing regulations.

PVR/Inox Leisures: PVR shareholders and secured creditors have approved the merger of the company with rival Inox Leisures.

InterGlobe Aviation: The airline will ‘wet lease’ up to four wide-body Boeing 777 aircraft on interim basis to cover the shortfall in its international operations, PTI reported.

Indian Oil Corporation/Bharat Petroleum Corporation: The Union Cabinet granted a relief package worth Rs 22,000 crore for state-run OMCs to offset the losses on account of rising LPG prices due to surging global oil prices.

Coal India/BHEL/IOCL/GAIL/NLC India: Coal India signed three separate MoUs with Bharat Heavy Electricals Ltd., Indian Oil Corporation Ltd. and GAIL (India) Ltd. to set up coal gasification projects, while NLC India Ltd. is signing a separate MoU with BHEL for the same, according to a government statement.

NTPC: Signed a MoU with Siemens for demonstrating hydrogen co-firing blended with natural gas in Faridabad gas power plant.

Adani Wilmar: Overall revenue is expected to see low single digit growth in the quarter ended Sept. 30, 2022, according to the company’s update. Food and FMCG vertical registered 40% growth on the back of pan-India edible oil business. Edible oil business registered higher volume growth in the masstige category. Industry Essential business also grew 20% during the quarter.

 Source: Moneycontrol, Bloomberg Quint, Investing

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