Top 15 things to know before market opens on November 18, 2021

Indian equity benchmarks failed to hold on to intraday gains in a volatile session on Wednesday, extending losses to a second straight day.

Losses in financial, oil & gas, and IT shares pulled the headline indices lower, though gains in consumer and automobile shares limited the downside.

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“The surge in fresh COVID cases is keeping global investors on the edge fanning fears of an economic slowdown. On the domestic front, the auto sector was in focus as reports suggested relief in chip and semiconductor shortages,” said Vinod Nair, Head of Research at Geojit Financial Services.

Broader markets were mixed. The Nifty Midcap 100 index tumbled 0.7 %, though its smallcap counterpart rose 0.1 %.

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According to pivot charts, the key support levels for the Nifty are placed at 17,844.37, followed by 17,790.03. If the index moves up, the key resistance levels to watch out for are 17,987.87 and 18,077.03.

SEBI releases investor charter

The investor charter that was proposed in the Union Budget 2021-2022 with the aim of protecting investors from the misselling of financial products, was released by the Securities and Exchange Board of India (SEBI) on November 17, 2021.

This charter (for investors in the Indian securities market) includes the rights and responsibilities of investors and dos and don’ts of investing in the securities market.

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RBI released data on bank credit

Bank credit grew by 7.14% to Rs 111.64 lakh crore and deposits increased by 11.42% to Rs 160.49 lakh crore in the fortnight ended November 15, 2021, RBI data showed.

In the fortnight ended November 6, 2020, bank loans stood at Rs 104.19 lakh crore and deposits at Rs 144.03 lakh crore, according to the RBI’s Scheduled Banks’ Statement of Position in India as of November 5, 2021, data released on Wednesday.

In the previous fortnight ended October 22, 2021, bank credit had grown by 6.84% and deposits by 9.94%. In FY2020-21, bank credit had risen by 5.56% and deposits by 11.4%.

RBI imposed monetary penalty on two co-operative banks

The Reserve Bank of India (RBI) on November 17 imposed monetary penalty on Chandrapur-based Shri Kanyaka Nagari Sahakari Bank and Nizamabad-based The Nizamabad District Co-operative Central Bank Ltd, over non-compliance with RBI directions.

A monetary penalty of Rs 10.50 lakh was imposed on Shri Kanyaka Nagari Sahakari Bank and Rs 2.50 lakh on The Nizamabad District Co-operative Central Bank (DCCB) Ltd.

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Swiss brokerage UBS Securities revises India’s GDP forecast

Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5 % from 8.9 % in September. The brokerage also sees the economy clipping at 7.7 per cent in FY23 but moderating to 6 % in FY24, as it expects the benefit of the low-interest rate regime to end by the end of FY23, and it sees the central bank hiking policy rates by 50 bps in the second half of the next fiscal. The Reserve Bank also forecasts 9.5 % GDP growth this fiscal while the average projection ranges from 8.5 to 10 %.

The government projection is around 10 %

Invesco Mutual Fund delays the launch of its blockchain fund

Invesco Mutual Fund (MF) has decided to delay the launch of its much-anticipated blockchain fund because of regulatory uncertainty. The new fund was planned for launch on November 24, 2021.

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Accenture and Microsoft will support 10 startups in India

Accenture and Microsoft will support 10 startups in India that focus on social impact and sustainability, by helping them to scale their emerging solutions and business models.

The joint initiative ‘Project Amplify’ is Asia Pacific-wide and accelerates the growth of 33 startups from across the region. Purpose-driven startups from India participating in Project Amplify include Jaljeevika, eKutir, Everwell, Fluxgen, Docturnal, BrainSight AI, Fresh On Table, FreshR, Rocket Learning, and Blink Foundation.

Dow Jones Sustainability World Index 2021

Tech Mahindra on November 17 announced that it has emerged as the global information technology (IT) leader in the S&P Dow Jones Sustainability Indices (DJSI) 2021.

The firm has been ranked first among the top IT firms of the world in the “TSV IT services & Internet Software and Services” segment.

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Indian Indices

Sensex opened at 60179.93 and closed at 60008.33 with -0.52% change on November 17, 2021. The highest it touched was 60426.61 and the lowest 59944.77 while Nifty50 opened at 17,939.35 and closed at 17898.65 with -0.56% change. The highest it touched was 18022.65 and the lowest 17879.25

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 10-points gain. The Nifty futures were trading at 17,879 on the Singaporean Exchange around 08:00 hours IST.

US Market 

The US stock markets fell on Wednesday as investors weighed a continuation of strong earnings reports from big retailers amid lingering inflation concerns. The S&P 500 declined from a rising streak and now sitting below the level that it hit a week and a half ago. The Dow Jones Industrial Average and Nasdaq also fell.

Asian Markets

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.44%, while the Nikkei 225 led the Hang Seng lower. They fell 0.40% and 0.38% respectively.

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Bulk deal data

On BSE Vinay Bafna sold 4750000 shares of SRESTHA at a price of Rs 3.75 per share while ALPHA LEON ENTERPRISES LLP purchased 560867 shares at Rs 2.35 and sold 3060867 shares of PMCFIN at Rs 2.59 per share.

On NSE MARVEL REALTECH PRIVATE LIMITED purchased 100000 shares of AKG Exim Limited at Rs 39 per share while SAROJ GUPTA sold 100000 shares of AKG Exim Limited at Rs 38.99 per share.

DII and FII Data

Foreign Institutional Investors net sold shares worth Rs 344.35 crores on November 17, 2021, while Domestic Institutional Investors net sold shares worth Rs 61.14 crores in the Indian equity market as per provisional data available on the NSE.

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NSE F&O Ban

Six stocks – BHEL, Indiabulls Housing Finance, IRCTC, NALCO, SAIL and Sun TV Network – are under the F&O ban for November 18. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 % of the market-wide position limit.

Quarterly Reports

IMP Powers Consolidated September 2021 Net Sales at Rs 16.41 crore, down 14.73% Y-o-Y.

Tembo Global Consolidated September 2021 Net Sales at Rs 36.18 crore, up 25.36% Y-o-Y.

Hindalco Consolidated September 2021 Net Sales at Rs 47,665.00 crore, up 52.59% Y-o-Y

Tide Water Oil Consolidated September 2021 Net Sales at Rs 394.06 crore, up 20.7% Y-o-Y

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Pix Transmis Consolidated September 2021 Net Sales at Rs 122.32 crore, up 20.41% Y-o-Y

Finolex Cables Consolidated September 2021 Net Sales at Rs 932.98 crore, up 45.91% Y-o-Y

Lee and Nee Consolidated September 2021 Net Sales at Rs 1.34 crore, up 2.6% Y-o-Y

Veto Switch Consolidated September 2021 Net Sales at Rs 75.40 crore, up 78.82% Y-o-Y

Religare Enterp Consolidated September 2021 Net Sales at Rs 794.03 crore, up 26.51% Y-o-Y

Sri Ramakrishna Consolidated September 2021 Net Sales at Rs 12.11 crore, up 172.37% Y-o-Y

BIL Consolidated September 2021 Net Sales at Rs 102.93 crore, up 6.53% Y-o-Y

Millennium Consolidated September 2021 Net Sales at Rs 2.19 crore, up 39.04% Y-o-Y

ITL Industries Consolidated September 2021 Net Sales at Rs 27.84 crore, up 18.3% Y-o-Y

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Kamat Hotels Consolidated September 2021 Net Sales at Rs 33.12 crore, up 203.6% Y-o-Y

Ganges Security Standalone September 2021 Net Sales at Rs 4.94 crore, up 6.89% Y-o-Y

Aishwarya Tech Standalone September 2021 Net Sales at Rs 0.80 crore, down 46.55% Y-o-Y

Ashish Polyplas Standalone September 2021 Net Sales at Rs 4.49 crore, up 16.64% Y-o-Y

Alfred Herbert Standalone September 2021 Net Sales at Rs 0.63 crore, down 0.83% Y-o-Y

Madhav Copper Standalone September 2021 Net Sales at Rs 10.64 crore, down 89.78% Y-o-Y

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Auto Pins(I) Standalone September 2021 Net Sales at Rs 9.25 crore, up 64.36% Y-o-Y

Pooja Entertain Standalone September 2021 Net Sales at Rs 0.13 crore, down 67.49% Y-o-Y

Media Matrix Standalone September 2021 Net Sales at Rs 1.00 crore, up 33.33% Y-o-Y

Integra Capital Standalone September 2021 Net Sales at Rs 0.28 crore, up 115.57% Y-o-Y

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Manjeera Const Standalone September 2021 Net Sales at Rs 10.76 crore, up 44.5% Y-o-Y

SS Organics Standalone September 2021 Net Sales at Rs 15.49 crore, up 84.99% Y-o-Y

Jain Marmo Ind Standalone September 2021 Net Sales at Rs 0.40 crore, up 39.7% Y-o-Y