Investors will keep a tab on oil prices, foreign fund flow, Q2 results, rupee movement against US dollar and other global cues

Nifty futures were trading at 18,220, up 8 points, on Singaporean Exchange, suggesting a cautious start for BSE Sensex and Nifty 50 on Thursday. Analysts expect volatility on the day of F&O expiry. Investors will keep a tab on oil prices, foreign fund flow, Q2 results, rupee movement against US dollar and other global cues. “Ahead of monthly F&O expiry, volatility may continue, hence level-based trading would be the ideal strategy for day traders. For the bulls, 18100 would be the key support level and if the index breaches the level, there is a strong possibility of a quick intraday pullback rally up to 18300-18350 levels. On the other hand, dismissal of 18100 could possibly open another round of correction wave up to 18060-18000,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.

Stocks to watch

IndiGo, Reliance Infrastructure: BSE-listed companies such as Bajaj Finserv, NTPC, Tata Power, DLF, InterGlobe Aviation, Marico, RBL Bank, Adani Green Energy, AU Small Finance Bank, Blue Star, CarTrade Tech, Chalet Hotels, Chemcon Speciality Chemicals, Edelweiss Financial Services, Gujarat Gas, HSIL, Indian Bank, Infibeam Avenues, JK Tyre & Industries, Mahindra & Mahindra Financial Services, Motilal Oswal Financial Services, Reliance Infrastructure, SBI Cards and Payment Services, UCO Bank, UTI Asset Management Company, Welspun Corp, and Westlife Development will release September quarter earnings today.

Reliance Industries Ltd: Iconix Lifestyle India, an equal joint venture between Reliance Brands and Iconix Brand Group Inc, on Wednesday announced the acquisition of IP rights in India of the iconic British brand Lee Cooper for an undisclosed amount.

Bajaj-Auto: Bajaj Auto reported a 12% year-on-year (YoY) rise in net profit to Rs 1,275 crore for the September quarter. Revenue from operations during the September quarter was up 22% YoY to Rs 8,672 crore. Total volumes during the September quarter grew by 9% YoY to 11.44 lakh units.

Larsen & Toubro: Infrastructure major Larsen & Toubro’s (L&T) revenues in the first half of FY22 have reverted to pre-Covid levels on steady execution of infrastructure projects and steps taken to mitigate the productivity risks that arose from the second wave.

ZEEL: Invesco Developing Markets Fund, the largest investor in Zee Entertainment Enterprises (ZEEL), is likely to file an appeal against the Bombay High Court’s injunction that restrains the company from convening an extraordinary general meeting (EGM).

IndusInd Bank: IndusInd Bank’s net profit rose 72% year on year (YoY) to Rs 1,113.53 crore in the September quarter on the back of higher income and lower provisions. The bank’s net interest income (NII) increased 11.6% YoY to Rs 3,658 crore, other income was up 18% to Rs 1,837 crore and the net interest margin (NIM) rose one basis point (bps) sequentially to 4.07%

BPCL: The Centre has received a final dividend of Rs 6,665 crore for FY21 from fuel retailer-cum-refiner BPCL, which is on the block for privatisation.

United Breweries: Beer maker United Breweries Ltd on Wednesday reported a multi-fold increase in consolidated net profit to Rs 80.34 crore for the second quarter ended September 2021, helped by volume pick up amid gradual lifting of restrictions in the market.

SBI Life: SBI Life reported a 17.7 per cent decline in its net profit to Rs 247 crore in the second quarter ended September 2021. The private sector insurer had posted a net profit of Rs 300 crore in the corresponding quarter of the previous financial year.