A futures market overview highlighting four NSE-listed stocks with significant open interest increases, reflecting heightened trading activity and potential shifts in market positioning during the October 21 trading session.
Bitcoin has surged by 2.4% to $84,737 amid increased enthusiasm for risk assets like technology stocks. This rally, driven partly by SpaceX earnings, reflects a broader revival in speculative trading. The Office of the Comptroller of the Currency has also announced supportive measures for payment stablecoin issuers. Additionally, indications show a rise in open interest for perpetual futures, after a period of deleveraging.
Gold prices saw a decline as investors shift attention to the looming Federal Reserve policy meeting regarding interest rates. Spot gold prices dipped to $4,115.50 per ounce, with US gold futures for December slipping to $4,132.30. Analysts anticipate potential rate hikes in the coming months, particularly in December, where the likelihood stands at 90%. Other precious metals like silver and platinum also noted price drops.
At the previous closing price of Rs 1,709 apiece on BSE, the said number of shares freeing up for trade today is worth nearly Rs 3,247 crore.
Brent crude traded 1.18% higher at $110.18 a barrel, while US West Texas Intermediate (WTI) crude was trading more than $98 a barrel. Brent had settled largely unchanged on Wednesday, while WTI had eased 67 cents.
Investors are currently preparing for upcoming central bank meetings next week, expecting interest rate holds in major economies. The dollar has stabilized as market bets on its strength have decreased slightly recently. Sterling and other currencies have seen gains supported by inflation and rate hike expectations. The European Central Bank and Bank of Japan are also anticipated to maintain their current rates.
Contracts for the Nasdaq 100 Index slipped 0.6% and those for the S&P 500 dropped 0.4% in early Asian trading following a split set of results from Tesla Inc. and Meta Platforms Inc. The automaker’s shares fell 3.1% in post-market trading after cutting its capital-spending forecast. Meta Platforms, however, rose 2% after hours as the company boosted its bet on AI with spending outlook.
Reserve Bank of India has significantly reduced banking system liquidity from a peak surplus in a short time. Liquidity surged after banks received funds from overseas Indians under the FCNR(B) scheme. The central bank utilized reverse repo auctions and cash reserve ratio adjustments to absorb this surplus effectively. As overnight rates increased following these liquidity measures, RBI temporarily infused funds to manage sharp rate rises.
Aditya Birla Sun Life AMC witnessed an 8.4% decrease in net profit for the September quarter of FY27, coming in at ₹221 crore, down from ₹241.32 crore last year. In contrast, operational revenue grew by 5% to ₹484 crore. The company faced a 21% increase in total expenses, which rose to ₹230 crore. Significantly, the Quarterly Average Assets Under Management reached ₹4.42 lakh crore, reflecting a 4% year-on-year increase.
Jefferies has identified opportunities for further valuation gains in selected Indian IT stocks. While the sector experienced a sharp rally in October, growth expectations remain muted. Analysts suggest that lack of negative surprises could drive valuations higher. Infosys and TCS were noted for potential rerating, with target prices increased. The worst-case scenario involves stagnant growth beyond fiscal year 2029 for IT companies.
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