Asian markets are mixed on the final trading day of the week. Investors are currently grappling between election uncertainty, better-than-forecast economic data and growing cases of Covid-19 in many parts of U.S. and Europe.
Futures on the Dow Jones are trading 170 points lower currently.
US stocks closed higher on Thursday, with the technology heavyweights rallying ahead of major earnings reports and upbeat domestic economic data calming investor jitters about surging coronavirus cases.
US economy notches record growth in third quarter as the government poured out more than $3 trillion worth of pandemic relief which fueled consumer spending. The Dow Jones Industrial Average rose 139.03 points, or 0.52%, to 26,658.98, the S&P 500 gained 39.11 points, or 1.20%, to 3,310.14 and the Nasdaq Composite added 180.73 points, or 1.64%, to 11,185.59.
Oil prices tumbled on Thursday nearly 4%, touching a five-month low and extending the previous day's sharp decline on the impact renewed coronavirus lockdowns could have on oil demand.
The number of Americans seeking unemployment benefits fell last week to 751,000, the lowest since March, but it's still historically high and indicates the viral pandemic is still forcing many employers to cut jobs.
Contracting for the seventh consecutive month, the output of eight Indian core infrastructure sectors dropped by 0.8 % in September, mainly due to decline in production of crude oil, natural gas, refinery products and cement.
India's fiscal deficit at 114.8% of annual target as of at September-end.
🎯 News & Impact 🎯
Major Results Today :
Reliance Industries, IndusInd Bank, Indian Oil Corporation, UPL.
🎯 InterGlobe Aviation Q2FY21 YoY :
Revenue down 66% to Rs 2,741 crore.
Net loss widens to Rs 1,195 crore. from Rs 1,065 crore.
Ebitdar up 3.1 times to Rs 275 crore.
Ebitdar margin at 10.2% from 1.1%.
🎯 TVS Motor Q2FY21 YoY :
Revenue up 6% to Rs 4,605 crore.
Net profit up 12% to Rs 179 crore.
Ebitda up 13% to Rs 430 crore.
Ebitda margin at 9.3% from 8.8%.
🎯 Canara Bank Q2FY21
Net Interest Income up 29.3% to Rs 6,296 crore.
Net profit up 22% to Rs 444 crore.
Gross NPA at 8.23% from 8.84% last quarter.
Net NPA at 3.42% from 3.95% last quarter.
Provisions up 5% from the previous quarter to Rs 4,016.8 crore.
Positive for the stock.
🎯 Security and Intelligence Services (India) : The company reported higher consolidated profit at Rs 108.1 crore in Q2FY21 against Rs 76.2 crore, revenue rose to Rs 2,157.9 crore from Rs 2,088.8 crore YoY.
🎯 BlueDart Express :
Company reported higher profit at Rs 42.33 crore in Q2FY21 against Rs 14.64 crore, revenue increased to Rs 866.57 crore from Rs 802.17 crore YoY.
Positive for the stock.
🎯 HPCL : To consider share buyback on November 4.
🎯 Aviation Stocks : Hardeep Singh Puri, Minister of Civil Aviation stated that there will be an extension of the fare-cap on airlines by another three months.
🎯 Aurobindo Pharma :
Company gets US FDA nod for Cisatracurium Besylate used to maintain neuromuscular relaxation during major surgical procedures.
Positive for the stock. 👍🏻
🎯 Alkem Labs :
Company gets US FDA nod for ADHD Drug Amphetamine Sulfate.
Positive for the stock. 👍🏻
🎯 Indian Energy Exchange : Signs agreement with MCX which will enable the latter to use IEX's electricity clearing prices for settlement of its electricity derivative contracts.
🎯 Zensar Tech : Board gives in-principle approval for merger of its wholly-owned arm Cynosure Interface Services with itself.
🎯 Wipro : Company and IBM strengthened relationship; announced expansion of IBM Hybrid Cloud Practice.
🎯 JSW Steel : Promoter Danta Enterprises revoked pledge of 26 lakh shares on October 26.
Positive for the stock. 👍🏻
🎯 HFCL : Promoter entity MN Ventures acquired further 10 lakh equity shares in company.
Positive for the stock. 👍🏻
🎯 Max Financial Services : Promoter Max Venture Investment Holdings created pledge of 9.35 lakh shares on October 26.
Negative for the stock. 👎🏻
🎯 Sadbhav Infrastructure Project : Promoter Sadbhav Engineering released pledge on 1.9 % stake.
Negative for the stock. 👎🏻
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Edited by Sharp.
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