Market Ahead, October 1: All you need to know before the opening bell

The Indian markets are expected to open higher today, as indicated by the SGX Nifty which was trading 120 points higher from Nifty futures' last close, on the back of firm global cues. In the US, the Dow Jones rose 1.2 per cent, the S&P 500 gained 0.83 per cent and the Nasdaq Composite added 0.74 per cent on the hope for a breakthrough in stimulus negotiations.

In Asia, markets in China, Hong Kong, South Korea and Taiwan are closed for a holiday.

Back home, stock-specific developments, new listings, macro-data, and auto sales data will be the major drivers for the markets today while the weekly derivatives expiry may inject some volatility. Besides, September auto sales numbers will start pouring in from today which will cause stock-specific fluctuations. The markets, meanwhile, will remain shut on Friday on account of Gandhi Jayanti. 

Reliance Industries will once again be in focus after the company announced that US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in Reliance Retail. Meanwhile, another US-based private equity firm General Atlantic has also announced investing Rs 3,675 crore for a 0.84 per cent stake in Reliance Retail.

Cinema and leisure related stocks are expected to trade actively today after the central government announced Unlock 5.0 guidelines in which it has allowed reopening of cinema halls, theatres, and multiplexes with effect from October 15 with a maximum of 50 per cent capacity. Meanwhile, India on Wednesday registered 86,748 new Covid-19 cases, taking the tally past the 6.3-million mark while the country's death toll reached 98,708.

Besides, ONGC, Oil India, and city gas distribution stocks may remain under pressure today after the government cut natural gas prices cut by 25 per cent, to be effective from today. The latest reduction in price brings it to a level last seen in 2010, when prices were set by the government.

And today, Chemcon Speciality Chemicals will debut at the bourses after finalising issue price at the higher end at Rs 340 per share. Computer Age Management Services will also list its shares today, with the issue price fixed at Rs 1,230 per share.

And, Mazagon Dock Shipbuilders’ Rs 440-crore IPO garnered 7.5 times subscription on Wednesday, while UTI Asset Management Company’s Rs 2,160-crore issue garnered 80 per cent subscription. Likhitha Infrastructure's Rs 61-crore IPO garnered nearly three times subscription. All the three IPOs close today.

Punjab National Bank yesterday reported a borrowal fraud of Rs 1,203.26 crore in the NPA account of Sintex Industries. The bank has already made provisions amounting to Rs 215.21 crore, as per prescribed prudential norms, the lender said.