Markets ahead on November 12: Key factors that could drive today’s markets

The media reported on another stimulus by the government before the Diwali festival was the main trigger for today’s Indian market. The center could announce another $ 20 billion stimulus this week focusing on stressful sectors, urban and rural middle-income earners, and pre-Diwali job creation, according to Reuters. Is high.

Moreover, investors will also digest some RBI staff’s assessment that the Indian economy could turn around by the third quarter. RBI staff calculated that after a 23.9% plunge in GDP in the first quarter, the pace of contraction could have eased to 8.6% in the second quarter.

In addition, market participants track global cues, macro data, corporate performance, and foreign fund flows, even if weekly derivative expiration dates are set to inject volatility.

On the macro side, industrial production and inflation data will be released today.

Coal India reported on Wednesday that consolidated net income for the September quarter fell 16.3% at Rs 2,948, backed by rising expenses. Indiabulls Housing Finance reported that consolidated net income for the same quarter fell by nearly 54% to reach Rs 32.3 billion.

In addition, the state-owned Power Grid Corporation increased its consolidated net income by more than 20% to reach Rs 3,094 in the September quarter, mainly due to increased revenue.

A total of 808 companies, including Eicher Motors, IRCTC and Jubilanto Foodworks, will announce their quarterly financial results today.

Airline stocks could increase today after the government has raised the maximum number of domestic flights allowed by Indian airlines from 60% to 70% of pre-Covid levels.

And Gland Pharma’s IPO managed to succeed with the help of institutional investors, even if individual investors avoided this problem. The institutional part of the IPO has been subscribed 6.4 times. On the other hand, the HNWI personal portion subscribed to 51% and the individual investor portion subscribed to only 24%.

And finally, let’s take a quick look at global clues.

US stocks finished mixing overnight. Nasdaq rose 2% as investors returned to tech stocks and moved away from the economically sensitive sector as investors weighed the potential timing of the Covid-19 vaccine’s progress and economic recovery. Meanwhile, the Dow fell 0.08 percent and the S & P 500 rose 0.77 percent.

Asian equities were expected to continue rising Thursday, supported by continued global stimulus and expectations for a coronavirus vaccine.

Australia’s ASX200 shares fell 0.3% in early trading, while Japan’s Nikkei rose 0.6% and Hong Kong’s key index rose 0.45%.

Due to the mix of global trends, SGX Nifty was under slight pressure, dropping 31 points to trading at the 12,734 level.

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Markets ahead on November 12: Key factors that could drive today’s markets

Source link Markets ahead on November 12: Key factors that could drive today’s markets

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