The Nifty Future is trading at 8,635.50 up with +6.49% percent or +526.50 point. The Nikkei 225 Future is trading at 19,252.50 up with +3.68% percent or +682.50 point.The Hang Seng Future is trading at 24,150.00 up with +1.73% percent or +410.00 point.
TODAY’S FACTORS AND EVENTS
The Nifty Auto Index has lagged Nifty-50 by c.40 per cent since January 2018, but the brokerage sees further headwinds for the sector in FY21 with 13-30 per cent YoY earning decline for its covered companies. FY21, especially the first half, is likely to be tough, but double-digit EPS CAGR is foreseen in FY22-23. The brokerage likes Maruti’s strong franchise, healthy long-term growth outlook, and robust balance sheet.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 22,679.99 up with +7.73% percent or +1,627.46 point. The S&P 500 is trading at 2,663.68 up with +7.03% percent or +175.03 point. The Nasdaq Composite is trading at 7,913.24 up with +7.33% percent or +540.15 point.
In other parts of world, Japan’s Nikkei 225 is trading at 18,950.18 up with +2.01% percent or +373.88 point. Hong Kong’s Hang Seng is trading at 24,147.31 up with +1.68% percent or +398.19 point. China’s Shanghai Composite is trading at 2,818.58 up with +1.98% percent or +54.59 point. India’s BSE Sensex is trading at 29,259.04 up with +6.05% percent or +1,668.09 point at 12:15 PM.