Markets may experience some volatility on account of weekly F&O expiry. Image: Reuters

Nifty futures were ruling at 18,258, up 78 points or 0.43 per cent on Singaporean Exchange, hinting at a fresh record high start for BSE Sensex and Nifty. Markets may experience some volatility on account of weekly F&O expiry. Investors will take cues from oil prices, rupee movement against US dollar, Q2 earnings, and other global cues. “We are of the view that the short-term chart formation is still into the long side but due to an overstretched intraday rally the bulls may take a caution stance between 18250-18275 levels. For day traders, 18100 would act as a key support level,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.

Stocks to watch

HCL Technologies: BSE-listed companies such as HCL Technologies, Indiabulls Real Estate, Benares Hotels, Century Textiles, Cyient, Den Networks, Ganesh Housing Corporation, Inox Wind Energy, Mahindra CIE Automotive, Radhe Developers, Vikas EcoTech, and Vikas Lifecare will release their second quarter earnings on 14 October 2021.

Coal India: The government on Wednesday claimed that coal supplies were improving, even as fuel stocks with thermal power stations were still hovering around abysmally low levels and hitting electricity supplies in many parts of the country. Coal stocks at power plants on Wednesday were about 7.3 million tonne (MT), enough to meet just 4 days’ requirement.

Infosys: The country’s second-largest software services exporter, Infosys on Wednesday beat Street estimates on all the fronts in its July-September earnings. The company also raised its full-year revenue guidance to 16.5-17.5% from 14-16% projected earlier on the back of continued strong business pace. The revenue guidance is higher than analysts’ expectations.

ZEEL: The fight between Zee Entertainment Enterprises (ZEE) and its largest shareholder, Invesco Developing Markets Fund, continues unabated. A day after ZEE released a letter stating that Invesco had tried to pressurise its CEO and managing director, Punit Goenka into a deal with entities of a large Indian group, Invesco hit back saying that it was Goenka and the members of the promoter family who had negotiated a potential deal with Reliance Industries (RIL).

Mindtree: IT company Mindtree on Wednesday posted a 57.2 per cent increase in its net profit to Rs 398.9 crore in the September quarter. The company had posted a net profit of Rs 253.7 crore in the corresponding quarter a year ago.

RIL: Reliance Industries on Wednesday said it had couple of months back made a proposal for merger of its media properties with Zee but dropped the offer over differences over stake of Zee founders.