The Indian stock market began in the green, with SGX Nifty trends indicating a good start for the index in India. The BSE Sensex dropped 677.77 points to 59,306.93 on October 29, while the Nifty50 lost 185.60 points to 17,671.70, forming a bearish candle on the daily charts. On a weekly basis, the index formed a bearish candle after falling 2.5 percent over the week.

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According to pivot charts, the Nifty’s important support levels are 17,551.27, followed by 17,430.83. If the index continues to rise, the important resistance levels to monitor are 17,853.97 and 18,036.23.

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Top stocks in focus today:

Results today:

HDFC, Tata Motors, IRCTC, Aban Offshore, Aditya Birla Capital, Allied Digital Services, Allcargo Logistics, Bajaj Consumer Care, Bayer Cropscience, Chambal Fertilisers & Chemicals, Gravita India, Hind Rectifiers, I G Petrochemicals, Ind-Swift Laboratories, Indian Railway Finance Corporation, JBF Industries, Kalyani Steels, Lux Industries, Man Infraconstruction, Mold-Tek Technologies, Mold-Tek Packaging, Nilkamal, Parag Milk Foods, Patel Engineering, The Phoenix Mills, Pioneer Embroideries, Punjab & Sind Bank, Relaxo Footwears, Repro India, Rolta India, Rupa & Company, Salzer Electronics, Shipping Corporation Of India, Sun Pharma Advanced Research Company, Star Cement, Sterling Tools, Tata Motors – DVR, Vascon Engineers, Venky’s (India), VRL Logistics and Whirlpool Of India are among the 149 companies to declares their quarterly numbers today.

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Reliance Industries:

Jio and Google have launched the JioPhone Next. It will be available in stores beginning with Diwali, with an entrance price of Rs 1,999 and the remainder paid in simple EMI over 18/24 months. 

Dr. Reddy’s Laboratories Q2:

Dr. Reddy’s Laboratories reported a consolidated profit after tax (PAT) of Rs 992 crore, up 30% from Rs 762 crore in the previous quarter. Revenues increased by 18% to Rs 5,763 crore for the quarter, up from Rs 4,897 crore in the same time the previous year.

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SAIL Q2:

The business recorded a greater net profit of Rs 5,794.9 crore vs Rs 660.2 crore, while sales increased 58.5% year on year to Rs 26,828 crore compared to Rs 16,925.5 crore.

Tata Steel:

The NCLT allowed the consolidation of Bamnipal Steel and Tata Steel BSL into and with the firm.

BPCL Q2:

The company’s net profit increased by 79.4% to Rs 2,694.1 crore from Rs 1,501.5 crore, while revenue increased by 15% to Rs 81,536.8 crore from Rs 70,921.3 crore, YoY.

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Focus on Airline Stocks:

The prohibition on scheduled commercial international passenger flights has been extended till November 30 by the Directorate General of Civil Aviation (DGCA). However, international scheduled passenger flights on specified routes allowed by the competent authorities, as well as international cargo flights and passenger flights sanctioned by the DGCA, will continue to operate.

Punjab National Bank:

The bank is subject to an F&O ban beginning November 1. Securities in the F&O category that are in the prohibition period comprise corporations in whom the security has exceeded 95 percent of the market-wide position limit.