Domestic stock markets opened mixed on Monday with BSE Sensex staring up 24.59 points at 33,710.15 points while NSE Nifty lost 20.75 points to begin at 10,431.75 points following an increased caution ahead of major second-quarter earnings lined up for this week, and the GST council meeting on 10 November. In the IPO market, New India Assurance issue was closed on Friday with a total subscription of 1.19 times, Khadim’s India public offer was subscribed 45%, mainly by retail investors until Friday’s data released by the stock exchanges. Reliance Nippon AMC shares marked a stellar debut on the stock market today. In the mid-morning trade, markets pared off the early losses, inched up to hit yet another record highs. The benchmark Sensex rose 129.38 points to hit the lifetime high of 33,814.94 points whereas broader Nifty advanced 28 points to mark the all-time high of 10,480.5 points. BSE Sensex gained 45.63 points or 0.14% to end at 33,731.19 points while NSE Nifty settled flat, down 0.7 points or 0.01% at 10,451.8 points.
India’s third largest private sector life insurance company, HDFC Standard Life Insurance’s initial public offering kicks off tomorrow. Here’s what brokerages have to say about the issue.
3.53 pm: Sensex ends little higher after crossing 33,800 for first time; ‘Paradise Papers’ report weighs: Indian stock market closed marginally lower after making fresh record highs in a range-bound trade on Monday amid the mixed sentiments following the leaked ‘Paradise Papers’ report.
3.09 pm: Hindustan Copper shares skyrocket 50% in just 4 days: Shares of Hindustan Copper have zoomed about 50% in just four trading sessions from 1 November till Monday, 6 November.
Even as the equity benchmark indices trade at record high levels evoking fear of a possible market correction, Sandip Sabharwal of asksandipsabharwal.com says that a deep correction from the current levels is unlikely in the near-term.
12.56 pm: HDFC Life IPO opens tomorrow; 8 key things about HDFC group’s 1st public offer in 22 years: HDFC Life Insurance IPO is all set to hit the stock market on Tuesday and has expected to raise up to Rs 8,695.01 crore at the upper end of the price band.
Taher Badshah of Invesco Mutual Fund says that the earnings in the July-September quarter has been better than the last four quarters.
Ace investors, Dolly Khanna and Rajiv Khanna are known for spotting multibaggers. One such mid-cap Rain Industries Ltd, picked by Rajiv Khanna, who invests in the name of his wife Dolly, has given more than five-fold returns since January.
Global Research and brokerage firm CLSA is bullish on the shares of Punjab National Bank, after the state-run lender reported a reduction in stresses assets to 15% from 18% a year ago, even as the net profit showed a marginal 2% rise.
Titan Ltd shares rose by more than 22% this morning after reporting a 67% rise in Net Profit to Rs 277.93 crore for the quarter ended September 30, 2017 against Rs 165.98 crore in the corresponding quarter last year.
9.49 am: Sensex slips nearly 100 points as investors turn cautious ahead of Q2 earnings: Indian stock markets traded lower in the morning session on Monday after opening flat as caution among market participants seemed to have increased ahead of some major corporate earnings this week and GST Council Meeting on 10 November.
9.21 am: Reliance Nippon Life AMC shares list on bourses; stock zooms 17% from its IPO price: Reliance Nippon Life Asset Management Company shares marked a bumper debut on the stock market on Monday. The shares of Reliance Nippon Life gained as much as 17.42% at the opening on NSE today.
8.40 am: These top 8 stocks will be in focus today: Indian stock markets are likely to open lower on Monday caution rises ahead of the major quarterly results in this week of companies, including blue-chips SBI, Tata Motors, BHEL, Cipla, CIL and NHPC.