Let's start with a look at the global markets. The main Wall Street indices closed lower overnight as the deadine for US lawmakers to pass an economic stimulus bill approached. The Dow fell 1.44 per cent, the S&P 500 was 1.63 per cent lower and the Nasdaq settled down 1.65 per cent.
Asian indices too were trading under pressure on Tuesday. In early trade, Australian stocks dipped at the open while MSCI’s gauge of stocks across the globe shed 0.06 per cent. Japan’s Nikkei and Hong Kong slipped 0.33 per cent each.
In line with the global trends, the SGX Nifty was also trading lower. At 7:30 AM, the SGX Nifty was down 40-odd points, indicating a weak start for the domestic indices with Nifty at around 11,870-levels.
However, Finance Minister Nirmala Sitharaman yesterday refused to rule out one more stimulus to perk up demand in the economy, and investors are likely to take positive cues from that.
Besides these, market participants will focus on corporate results and stock-specific developments. Private sector life insurer HDFC Life’s standalone profit rose 5.6 per cent year-on-year in Q2FY21 to Rs 326 crore. Net premium income of the insurer in the second quarter rose 35 per cent to Rs 10,045 crore. Meanwhile, Britannia posted a healthy 23 per cent increase in net profit for the September quarter at Rs 495 crore as compared to the corresponding quarter a year ago. The company's consolidated revenue rose 12 per cent yoy to Rs 3,493 crore, slightly lower than the Street's expectation of 14 per cent. The stock of both these companies are set to trade actively today.
Today, a total of 26 companies including Hindustan Unilever, Larsen & Toubro Infotech, and Bombay Dyeing are scheduled to announce their quarterly earnings. Analysts expect a strong recovery in HUL's essentials and discretionary categories. However, products focused on premium price and out-of-home consumption will continue to face growth headwinds, they say.
On the Covid-front, total number of coronavirus cases in India stands at 75.9 lakh, while the death toll has reached 1.15 lakh.
And, now a quick look at other top news.
The Rs 518 crore initial public offering of Equitas Small Finance Bank opens today. The price band for the issue is fixed at Rs 32-33 per share, and the issue will close on Thursday. As per analysts, the issue's attractive pricing leaves upside potential for investors. Although, one should not expect huge listing gains.
Hexaware on Monday said trading of its shares on the National Stock Exchange will be suspended from November 2 on account of voluntary delisting by the IT company. The delisting offer with a floor price of Rs 264.97 per share had opened on September 9 and closed on September 16.
 "Market Ahead, October 20: All you need to know before the opening bell")
