The confirmation of higher bottom reversal is likely to pull Nifty towards 18600 levels in the coming week. Image: Reuters

Nifty futures were trading 46.50 points or 0.25 per cent down at 18287 on the Singaporean Exchange, suggesting a gap-down start for BSE Sensex and Nifty 50. Analysts said that Indian share markets head not only into weekly options expiry, but also monthly derivatives expiry on Thursday. This is likely to keep markets volatile. Market participants will closely watch the July-September quarter earnings for FY22, oil prices, rupee movement against the US dollar, and other global cues. “The market seems to have bounced back after the weakness of the previous 4 sessions. The confirmation of higher bottom reversal is likely to pull Nifty towards 18600 levels in the coming week. Immediate support is placed at 18200 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

Maruti, ITC, Titan: BSE-listed companies such Larsen & Toubro, ITC, IndusInd Bank, Bajaj Auto, Titan Company, Lupin, Maruti Suzuki India, Punjab National Bank, SBI Life Insurance Company, Zee Entertainment Enterprises, Aarti Drugs, Adani Enterprises, Adani Ports and Special Economic Zone, Happiest Minds Technologies, IIFL Finance, IIFL Wealth Management, India Grid Trust, Indian Overseas Bank, JK Paper, Poonawalla Fincorp, PSP Projects, Ramco Systems, Raymond, Reliance Power, Shriram City Union Finance, SKF India, Sona BLW Precision Forgings, Tata Chemicals, Tube Investments of India, Torrent Power, TTK Prestige, United Breweries, United Spirits, and Welspun India will release September quarter earnings today.

ZEEL: The Bombay High Court on Tuesday granted interim relief to Zee Entertainment Enterprises (ZEE) by restraining its single largest investor, Invesco Developing Markets Fund, from convening an extraordinary general meeting (EGM).

Bajaj Finance: Bajaj Finance on Tuesday reported a 53% year-on-year rise in consolidated net profit at Rs 1,481 crore for the quarter ended September 30. Assets Under Management (AUM) for the September quarter grew by 22% y-o-y to Rs 1,66,937 crore compared to Rs 1,37,090 crore as of September 30, 2020.

Axis Bank: Private sector lender Axis Bank on Tuesday reported an 86% year-on-year (y-o-y) jump in its Q2FY22 net profit to Rs 3,133 crore, on the back of a 60% drop in provisions to Rs 1,735 crore. The bank’s net interest income (NII) — the difference between interest earned and interest expended — grew 7.84% to Rs 7,900 crore.

Kotak Mahindra Bank: Private sector lender Kotak Mahindra Bank on Tuesday reported a net profit of Rs 2,032 crore in the September quarter of FY22, down 7% year-on-year (y-o-y) owing to a 27% rise in provisions on a y-o-y basis to Rs 424 crore.

Bharti Airtel, Vodafone Idea: The telecom tribunal TDSAT did not hear any matter listed before it for Tuesday, including the Rs 3,050-crore cumulative penalty case of Bharti Airtel and Vodafone Idea. “All concerned are hereby informed that the Hon’ble Tribunal would not sit today i.e. on 26th October, 2021,” a TDSAT notice said. However, the TDSAT notice did not specify any reason.