Market Ahead Podcast, Oct 18: Top factors that could guide markets today

The markets prolonged its successful run to the seventh-straight day on Monday on the again of aggressive shopping for steel and choose IT and monetary shares.

The BSE Sensex scaled a contemporary summit at 61,963, and ended 460 factors greater at 61,766. The NSE Nifty 50 completed with a acquire of 139 factors at 18,477.

Metal shares, particularly metal, will proceed to stay in limelight.

Analysts anticipate the momentum in steel shares to proceed within the backdrop of an increase in metal costs, which have gone up by Rs 1,500-3,000 per tonne. On Monday, the BSE Metal index had ended with a acquire of over 4 per cent.

Crisil, for example, sees an enchancment within the working margin as nicely for key gamers going forward.

“There is room to lift home costs additional, and a correction this quarter seems unlikely as costs are prone to maintain.

Rising uncooked materials costs in China and the anticipated coal/ energy scarcity will probably weigh on the sooner anticipated worth correction,” Crisil mentioned.

Here are the businesses that are scheduled to announce their September quarter numbers today

ICICI Prudential

Nestle India

L&T Technology Services
Mastek

Navin Fluorine International
JSW Ispat

HUL
ACC

Among the lot, analysts anticipate HUL to submit low double-digit progress in September quarter income between 10 per cent and 15 per cent, whereas the underside line could rise by 8-10 per cent on a year-on-year foundation.

A drop in costs of cement resulting from weak demand coupled with enter value escalation is predicted to maintain EBITDA of the home cement trade muted for the September quarter, mentioned brokerages.

While ACC is predicted to be a laggard within the September quarter, different bigger friends like Shree Cement, Dalmia Bharat and Ambuja Cements are anticipated to report combined traits, it mentioned. For ACC and Ambuja Cements July-September represents Q3 (CY2021) as they comply with January-December accounting year.

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