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

Stocks in Asia fell in early trading following declines in the US as investors awaited a pivotal monthly payrolls report Equities dropped in Australia, Japan and South Korea, where Samsung Electronics Co. slid after the Korean chipmaker reported a decline in profit for the first time since late 2019. Stocks in the U.S. fell for a second day, with the S&P 500 and tech-heavy Nasdaq 100 both ending near session lows. At 6:25 am, the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — fell 0.3% to 17,263.50. The latest economic data in the U.S. on Thursday did little to bolster sentiment. While weekly initial jobless claims rose by more than forecast last week, they remained at a historically low level. Oil topped $88 a barrel in New York and Brent traded up near $95, extending gains a day after the OPEC+ alliance announced its biggest production cut since 2020. Elsewhere, Bitcoin slipped below $20,000.

Economic Calendar:

  • USD : Nonfarm Payrolls (Sep) on 07th October, 2022
  • USD : Unemployment Rate (Sep) on 07th October, 2022
  • INR : FX Reserves, USD on 07th October, 2022
  • INR : CPI (YoY) (Sep) on 12th October, 2022

Brokerage Radar:

CITI ON TITAN: Buy, TP Rs 2970; 2Q update – Yet Another +ve Surprise; Titan benefits from a combination of top-down tailwinds for organized industry, market conditions & a shift in consumer preferences) & multiple bottom-up initiatives

MS ON ZYDUS LIFE: OW, TP Rs 513; gBriviact Approval: Co-Exclusive, but Still Ltd Upside; Steady growth in overall sales, ownership of high-value consumer wellness biz, debt-free b/s & inexpensive val drive OW; gRevlimid upside should cushion upcoming erosion in gAsacol HD

MS ON BHARAT FORGE: OW, TP Rs 1025; Strong Class ACT Class 8 Orders Support Shallow Truck Downcycle Thesis; ACT expects NA Class 8 2022 builds at 310.1k builds and 2023 at 290.8k ; Expect India Auto & non-Auto businesses to be key earnings drivers

International Markets:

U.S & Europe:

Particulars 06th October Chg. Chg.(%)
Nasdaq 11073.31 -75.33 -0.68
Dow 29926.94 -346.93 -1.15
FTSE 6997.27 -55.35 -0.78
CAC 5936.42 -49.04 -0.82
DAX 12470.78 -46.40 -0.37
Dow Fut.* 29950.20 23.30 0.08

Asian markets:

Particulars 07th  October Chg. Chg.(%)
SGX Nifty 17295.00 -21.00 -0.12
Nikkei 27149.76 -161.54 -0.59
Straits Times 3156.87 5.31 0.17
Hang Seng 17851.12 -161.03 -0.89
Shanghai 3024.39 -16.81 -0.55

ADR Watch:

Particulars 06th October  Chg. Chg.(%)
Dr. Reddy 52.75 -1.29 -2.39
HDFC Bank 59.39 -0.51 -0.85
ICICI Bank 21.41 -0.24 -1.11
Infosys 17.48 -0.16 -0.91
Tata Motor 24.96 -0.29 -1.15
Wipro 4.86 -0.07 -1.42

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 81.88 0.44
Brent 94.31 -0.12
Gold 1720.45 -0.02
Silver 20.765 0.51

FIIs & DIIs:

Particulars 06th October 04th October
FIIs 279.01 1344.63
DIIs -43.92 945.92

News Update:

Dabur: The company said its domestic business had a “steady performance” and is expected to report “consolidated revenue growth in mid-single digit” for the second quarter ended September 2022.

Titan Co.: The company said it witnessed healthy double-digit growth across most businesses with overall sales growing 18% annually during the quarter ended September 2022. The outlook for the festive season continues to be optimistic and is visible in positive consumer sentiment across categories, it added.

Equitas Small Finance Bank: Recorded 20% growth on-year in total deposits during the quarter ended Sept. 30, 2022. The CASA deposits grew 28% on-year, with CASA ratio at 48.13%, compared to 45.31% a year ago.

Hindalco/Hindustan Copper/Vedanta: London Metal Exchange began a formal discussion on a potential ban on new Russian metal.

Nykaa: Entered into a strategic alliance with Middle East-based Apparel Group to recreate omni-channel beauty retail platform in the GCC region.

Hero MotoCorp: To launch Vida today, its first electric scooter.

Samvardhana Motherson: Opened a new facility at Tanger Med Industrial Platform, replacing an existing one in Morocco. This new facility is a part of Motherson’s Modules and Polymer Products division and will produce interior modules and components like instrument panels and door panels for passenger vehicles and light commercial vehicles.

HCLTech: Eexpanded its strategic partnership with Google Cloud with new capabilities and service offerings to expedite enterprise migration to Google Cloud.

NTPC: NTPC and GE Gas Power signed MoU for demonstrating hydrogen co-firing in gas turbines to further decarbonise power generation.

Source: Moneycontrol, Bloomberg Quint, Investing

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