SGX Nifty Indicates Flat Opening, Airtel Rolls Out 5G Plus, Festive Season Boosts Auto Sales, and Top Buzzing Stocks Today

Fri, 7 Oct Pre-Open

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On Thursday, Indian share markets pared gains as the session progressed and ended marginally lower.

Benchmark indices trimmed gains as nervousness persisted among investors for the US jobs data.

Also, inflationary concerns worldwide and central banks hiking interest rates has dampened sentiment and kept investors on tenterhooks on worries of a global slowdown.

All sectors except FMCG and telecom strengthened with IT stocks and metal stocks gaining the most on Thursday.

At the closing bell on Thursday, the BSE Sensex stood up by 157 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 57 points (up 0.3%).

JSW Steel, Hindalco, and Coal India were among the top gainers.

Bharti Airtel, HUL, and IndusInd Bank, on the other hand, were among the top losers.

The broader markets ended on a positive note. The BSE Midcap climbed 1.1% and the BSE SmallCap index ended higher by 1.3%.

Sectoral indices ended on a mixed note with stocks in the metal sector, realty sector, and power sector witnessing buying.

On the other hand, FMCG stocks, and telecom sector stocks witnessed selling pressure.

Shares of Page Industries, Ujjivan Financial Services, and IDFC First Bank hit their 52-week high on Thursday.

The rupee was trading at 81.8 against the US$.

Gold prices for the latest contract on MCX were trading up by 0.6% at Rs 51,646 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:00 AM today, the SGX Nifty was trading down by 15 points, or 0.1% lower at 17,300 levels.

Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below.

Speaking of stock markets, to understand what our readers are thinking in the current market environment, we ran a poll on Equitymaster's telegram channel.

This is what we asked our readers:

With a response from 980 participants, the answer is right in front of you. Majority of investors are buying stocks. These investors could be of the view that the current momentum in stock market could continue.

As we're dealing with extreme volatility these days, it's always important to keep some money off the table rather than going all-in.

While this period may seem like is a good opportunity to double down on your investments or even put some fresh funds in the market, you should keep your head on a swivel.

Top Buzzing Stocks Today

L&T will be among the top buzzing stocks today.

The construction subsidiary of engineering giant Larsen & Toubro bagged a significant order from a leading automobile major to construct a state-of-the-art manufacturing facility in Haryana. .

The scope involves the design and execution of civil, structural, and architectural works including external development works.

SpiceJet share price will also be in focus today.

The finance ministry modified the Emergency Credit Line Guarantee Scheme (ECLGS) by raising the loan limit to Rs 15 bn from Rs 4 bn to help the aviation industry, giving a boost to airlines borrowing limit.

Boom in Auto Sales

The domestic passenger vehicle industry saw its best-ever monthly sales performance in September, driven by the strong demand for the festive seasons as well as improved production because of improved semiconductor supply.

The industry's volume in September was 3,55, 946 units, up 91% YoY from the same month last year. This allowed the second quarter's sales to surpass the 10-lakh sales threshold. However, the industry has crossed the 10-lakh sales mark in a quarter for the first time in the July-September period

Leading manufacturers Tata Motors, Maruti Suzuki, and Hyundai were able to increase their dispatches to dealers last month due to increased output because of the situation with the chip shortage eased.

Also, to restock inventory before the festival season, original equipment manufacturers (OEMs) ramped up shipments in September, which helped to boost sales volumes.

Due to this the robust passenger vehicle (PV) demand and volume growth was seen in September. Further, with an uptick in infrastructural and economic activity, commercial vehicle (CV) demand momentum also continued to increase.

However, two-wheeler sales have lagged, and a resurgence in rural demand, as well as festival and wedding season sales, remains key for driving growth.

PV domestic wholesale dispatches showed outstanding growth of 95% year over year (YoY) and 7% sequentially in September, pointing to improved supply to meet order backlogs. The CV segment experienced sustained growth, increasing 44% YoY.

However, domestic two-wheeler wholesale volumes showed a weaker increase at 15% YoY.

The automotive industry experienced strong double-digit growth during the first week of the festival season. While the two-wheelers saw a good 26% YoY growth in weekly retail sales during the first week of the festive season.

The low base from the previous year and the accumulation of inventories for the holiday season were the key drivers of the growth.

It appears, the auto stock rally is just getting started.

Rupee Slumps to All-Time Low

On Thursday, the rupee plunged 32 paise to close at an all-time low of 81.94 against the US dollar.

The currency opened on a positive note at 81.5, then pared all the gains to settle at an all-time low of 81.94 against the US dollar.

The rupee came under pressure after services PMI and private payroll numbers from the US came in better than estimated.

The rupee was falling for quite some time now, depreciating below the 80 per dollar mark last month.

If you're looking for investing ideas, we suggest watching this video - How to Profit from a Rising US Dollar.

Also, read our recent pieces on how IT stocks benefit from a falling rupee and the 5 stocks that can gain from a falling rupee.

Airtel Rolls out 5G Plus

Bharti Airtel on Thursday launched 5G plus services in eight cities and users will not need to change their SIM card as the existing Airtel 4G SIM is now 5G-enabled.

Customers in Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi will start enjoying the Airtel 5G Plus services in a phased manner, as it continues to construct its network and complete the rollout.

It has promised between 20 to 30 times higher speeds than the current speed, coupled with brilliant voice experience and super-fast call connection.

Airtel 5G Plus runs on a technology that has the widest acceptance in the world with the most developed ecosystem. This will ensure that all 5G smartphones in India seamlessly work on the Airtel network.

According to the company, 5G technology is expected to deliver ten times better download speed than that of 4G and up to three times greater spectrum efficiency.

Further, the company will cater to the environment with its special power reduction solution for the 5G services.

Bharti Airtel Limited, is an Indian multinational telecommunications services corporation. It is India's second-largest network operator

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