The markets on October 16, 2018 opened flat. BSE Sensex is trading at 35,050.96, up by 185.86 points and the Nifty is trading at 10,562.20, up by 49.70 points. 

Overall volumes in futures & options currently stand at 78.97 lakh contracts with a turnover of Rs. 6,92,766.23 crore.

Overall volumes in futures & options currently stand at 78.97 lakh contracts with a turnover of Rs. 6,92,766.23 crore.

We expect the index to continue with its pullback up to the level of 10,560 as it is the 38.2 per cent retracement level of the recent down-move. Stocks in news: NTPC, Globus Spirits, IFCI, TV Today Network and OCL India.

Indian markets are likely to be begin on a lacklustre note and may move ahead based on how the US-Saudi Arabia standoff pans out during the day. The SGX Nifty is trading with a marginal gain of 13 points at 10,532. Among Nifty 50 stocks, Hero Motocorp and Infosys are set to declare their results today.   

NII grew by 14.38 per cent and came in at Rs. 1,424 crore. PAT grew to Rs. 1,044 crore.

The stocks most likely to witness significant movement on the bourses on October 16, 2018 are Pitti Engineering Solutions, Reliance Industrial Infrastructure Limited, Natco Pharma, Avenue Supermarts and Dr. Reddy’s Laboratories. 

Lupin, the sixth largest pharma company by market capitalisation, received tentative US FDA approval for its generic Lurasidone Tablets of 20, 40, 60, 80 and 120 mg. Lupin which holds 8.8 per cent weightage in the Nifty pharma index was the top gainer in the index and surged 5 per cent on a closing basis. 

The broad market indices BSE Mid-cap and Small-cap index registered handsome gains. The BSE Mid-cap index gained 0.62 per cent, while small-cap index was up by 1.37 per cent on Monday.

Continuing with the optimism shown on Friday, the Indian stock markets opened Monday’s session on a positive note but witnessed range-bound volatility during the day. Bounce back in the Indian rupee by 50 paise and Brent oil by 40 paise brought in some pessimism in the markets. The country reported WPI and CPI inflation.