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Topic :- Share Market Closing Note

Benchmark indices closed higher for the fourth consecutive session on November 1 with Nifty above 18,100.

At Close, the Sensex was up 374.76 points or 0.62% at 61,121.35, and the Nifty was up 133.20 points or 0.74% at 18,145.40. About 1765 shares have advanced, 1579 shares declined, and 129 shares are unchanged.

Adani Enterprises, Divis Labs, NTPC, Power Grid Corp and Grasim Industries were among the top Nifty gainers, while losers included Axis Bank, UPL, Eicher Motors, Reliance Industries and Maruti Suzuki.

Among sectors, Power, Metal, Pharma and Information Technology indices up 2 percent each, while Realty index up 1 percent.

The BSE midcap index rose 1 percent and smallcap index up 0.26 percent.

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Topic :- Time:3.10 PM

Upcoming FED meeting. Avoid holding overnight positions. Nifty spot close above 18160 level will result in some upmove and close below above mentioned level may result in some fall. 

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Topic :- Time:2.30 PM

GOLD Trading View:

GOLD is trading at 50519. If it manages to trade and sustain above 50540 level then expect some further upmove in it and if it breaks and trade below 50480 level then some decline can follow in it.

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Topic :- Time:1.15 PM

Just In:

Credit Suisse is not for sale, says chairman Axel Lehmann.

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Topic :- Time:1.00 PM

Nifty is falling from its higher levels. Nifty spot if breaks and trade below 18080 level then expect some further decline in the market and if it manages to trade and sustain above 18100 level then some upmove can follow in the Nifty.

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Topic :- Time:12.55 PM

Just In:

Price hikes helped Castrol India counter impact of higher input costs in September quarter

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Topic :- Time:12.45 PM

Nykaa reports Q2 earnings.

Net profit down 8.9% at Rs 4.1 cr Vs Rs 4.5 cr (QoQ)    

Revenue up 7.2% at Rs 1,231 cr Vs Rs 1,148.4 cr (QoQ)    

EBITDA up 33% at Rs 61.2 cr Vs Rs 46 cr (QoQ)

Margin at 5% Vs 4% (QoQ)

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 658.30.If it breaks and trade below 657.80 level then expect some decline in it and if it manages to trade and sustain above 658.80 level then some upmove can further follow in it.

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Topic :- Time:12.10 PM

Just In:

1. EaseMyTrip clocks record sales as pent-up demand boosts travel agency

2. ASHOK LEYLAND OCT SALES ; TOTAL SALES UP 33 % At 14683 units (YOY)

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Topic :- Time:12.00 PM

Nifty is trading on a positive note. Nifty spot if manages to trade and sustain above 18160 level then expect some upmove in it and if it breaks and trade below 18120 level then some decline can follow in the market.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex at days high, up 500pts; Nifty50 above 18,150

2. Indias Manufacturing PMI rises to 55.3 in October, hiring at 33-mth high

3. RBI starts pilot of its digital currency, allows 9 banks to use it

4. Trade data from China, India shows gaping hole of $12 billion

5. Indias gold demand declines as inflation depresses rural demand

6. Bain Capital likely to sell stake in Axis Bank through block deal

7. Axis Bank slips 2% after 1.2% equity changes hands on BSE via block deal

8. Wheat price climbs nearly 6% after Russia withdraws from Black Sea pact

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Credit Suisse’s $4 billion fundraising was always going to be painful for shareholders, but with a deep discount on the new stock, their choice is only about how much of their ownership they want to lose.

The capital-raising plan was unveiled last week alongside a high-risk strategic overhaul, which still only promised a weak target for a 6 percent return on tangible equity in three years’ time, if things go according to plan. That is far below the 10 percent cost of capital assumed for big banks. It means Credit Suisse expects to be destroying value when its restructuring is done.

But the details of the share sale, which the bank released on October 31, leave investors with no real choice at all. The fund raising kicks off with new shares for a group of strategic investors led by state-controlled Saudi National Bank, who together will put in about $1.8 billion for a 14.8 percent stake.

That’s to be followed by a $2.2 billion rights issue. That stock will be priced at just 2.52 Swiss francs ($2.51) per share, which is a 32 percent discount to the theoretical share price after all the new equity has been sold and based on the average share price over the final two days of last week. Having already seen new investors take a large stake, the rights issue will further dilute the claims of each share over Credit Suisse’s profit or book value by 22 percent.

Together, all the new shares lead to bottom-line dilution of earnings per share of almost 34 percent. That sounds horrible until you look at the dilution if shareholders don’t approve the strategic stake sale, which they are due to vote on at a November 23 meeting. Without the Saudi-led group, Credit Suisse would have to issue even more shares to raise the $4 billion it needs through a rights issue alone. The full dilution then would be 40 percent.

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Price of a 19-kg commercial LPG cylinder in the national capital is now Rs 1,744 from Rs 1,885, as per a price notification from state-owned fuel retailers