Market may open on flat note; F&O expiry and key corporate results eyed

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 4 points at the opening bell. Trading for the day would remain volatile as traders shift contracts from the current month expiry to the near month contract of November. Among key corporate earnings, Bajaj Finserv, NTPC, Tata Power Company, DLF, InterGlobe Aviation, Marico, RBL Bank, SBI Cards and Payment Services, among others will release their September 2021 quarter earnings today, 28 October 2021.

Global markets

Overseas, Asian stocks are trading mixed on Thursday as investors await the Bank of Japan’s latest monetary policy announcement. The Bank of Japan is set to announce its latest monetary policy decision on Thursday. The central bank is expected to hold steady on policy, as per reports.

Japan’s retail sales fell for a second month in September as consumers limited spending amid concerns over the coronavirus pandemic. Retail sales in September slipped 0.6% from the same month a year earlier, government data showed on Thursday. It followed a 3.2% dip in August that marked the first year-on-year decline in six months.

The Nasdaq ended little changed on Wednesday, boosted by gains in Microsoft and Google parent Alphabet on the heels of their quarterly results, but a drop in oil prices and a pullback in Treasury yields weighed on cyclical sectors and pulled the S&P 500 lower.

The Dow Jones Industrial Average dipped 266.19 points to 35,490.69, falling for the first time in four days, dragged down by Visa. The S&P 500 traded down 0.5% to 4,551.68, for its first down day in three. The tech-heavy Nasdaq Composite closed at 15,235.84, flat despite a jump in Microsoft and Alphabet shares.

Domestic markets

Back home, key equity indices ended lower on Wednesday, tracking negative global cues. The barometer index, the S&P BSE Sensex, fell 206.93 points or 0.34% at 61,143.33. The Nifty 50 index was down 57.45 points or 0.31% at 18,210.95.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,913.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 472.48 crore in the Indian equity market on 27 October, provisional data showed.