Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended on a positive note for the third straight session with Nifty finishing near to 17500. BSE Sensex closed 549.62 points or 0.94% higher at 58,960.60, and the Nifty was up 175.20 points or 1.01% at 17,487. SBI, Adani Ports, Eicher Motors, Nestle India and SBI Life Insurance were among the top Nifty gainers, while NTPC, HDFC, Bajaj Auto, Tech Mahindra and Britannia Industries were the top losers. Sectrally, FMCG, auto, capital goods, power, PSU Bank and realty up 1-4 percent. In the borader markets, BSE midcap and smallcap indices edged up 0.7-1 per cent.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 18 October, Tuesday
The gains in Nifty, Sensex were largely led by bank, auto, IT, and FMCG stocks. Their sectoral indices were up over 1 per cent each. In the broader markets, the Nifty MidCap and SmallCap indices gained 1.2 per cent, and 0.75 per cent, respectively. Overall, the market breadth firmly favoured buyers in the ratio of 2:1. Volatility index, India VIX, meanwhile eased over 5 per cent.
Benchmark indices climbed over 1 per cent in intra-day deals, before cooling off mildly as HDFC twins, Sun Pharma, NTPC, and Tech Mahindra weighed. The S&P BSE Sensex ended at 58,961, up 550 points or 0.94 per cent, while the Nifty50 closed at 17,487, 175 points or 1 per cent, higher. The indices hit intra-day highs of 59,144, and 17,528, respectively.
Benchmark indices erased some of the intraday gains but still trading higher with Nifty around 17450. The Sensex was up 489.36 points or 0.84% at 58900.34, and the Nifty was up 156.50 points or 0.90% at 17468.30.
Indian stock markets have been extremely volatile so far this year amid geopolitical tensions, and recession concerns. Despite the weakness in global markets, domestic benchmark indices have remained resilient falling around 0.5% so far in 2022, compared to around 20 per cent fall in the US indices. Going forward, Indian markets are expected to continue this outperformance. Analysts believe that Nifty may touch 20000, and Sensex may head to 66000 in Samvat 2079. In the next one year, cement, IT, capital goods stocks are expected to perform well, delivering up to 62% returns, said JM Financial Services in its report.
Indian benchmark indices were trading higher in the afternoon session with Nifty around 17500. The Sensex was up 612.92 points or 1.05% at 59023.90, and the Nifty was up 186.80 points or 1.08% at 17498.60.
Nifty PSU Bank index rose nearly 3 per cent, led by the PNB, Union Bank of India, Canara Bank
“29 out of 50 Nifty stocks have generated buy signals on our proprietary monthly positioning model which means more upside. Use dips to buy near support levels. Long view initiated on RBI Policy day at 16,800 & again at 16,980 ahead of Fed Inflation Data Day,”~Rahul Sharma, Head – Research, JM Financial Services Ltd.
Gujarat Mineral Development Corporation has posted net profit of Rs 151 crore in the quarter ended September 2022 against Rs 40.4 crore in the same quarter last fiscal. Revenue of the company up 19.3% at Rs 539 crore versus Rs 452 crore, YoY
Data Patterns share price hit a new high on strong outlook. The stock has zoomed 139% from IPO price. In the past three months, the stock has zoomed 95 per cent, as compared to 8 per cent rise in the S&P BSE Sensex.
Tata Elxsi down over 5 per cent was the top loser among the BSE 500 stocks so far. Max Healthcare, Minda Corp, Thyrocare Technologies and Schaeffler India were the other notable losers, down around 5 per cent each.
Nifty Information Technology (IT) index added 1 per cent supported by the L&T Technology Services, Wipro, HCL Tech
“COMEX Gold trades lower towards $1657 after a near 1% gain in yesterday’s session. Gold recovered on Monday after sharp selloff last week which saw gold moving below the pivot $1650/ oz level. US Dollar that held steady to positive last week is again showing signs of a corrective dip as it fell more than 1% in yesterday’s session. Fear of an aggressive rate hike by the Fed is capping the gains in bullion as it increases the opportunity cost of holding the non-yielding asset. Although Gold is holding $1650/oz level a strong bullish momentum may start only if we see a sustained down move in the American currency,”~Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities
All the sectoral indices are trading in the green with auto, IT, auto, capital goods, power up 1 per cent each.
LTI, Mindtree share price rose over 1.5% as NCLT sanctions their merger
Zee Entertainment surged 6% after 53 million shares change hands via block deal. Invesco Developing Markets Fund, which has a 10.14 per cent stake in ZEE, was looking to sell half of its stake in the company in a block deal.
BSE Power index rose 1 per cent, led by the Adani Transmission, Adani Green, Adani Power
Nifty surged 200 pts or 1 per cent to reclaim 17500. Sensex surged 690 pts to climb above 59000
Barring NTPC, all Sensex stocks opened in green with ICICI Bank leading the gains
Bank Nifty jumped over 300 points or 0.75 per cent to reclaim 40200.
Wipro, Tata Motors, UltraTech Cement, M&M and HUL were among major gainers on the Nifty.
Indian benchmark indices opened higher with Nifty above 17450 and Sensex up 500 pts at 58900 on the back of positive global cues.
Indian rupee opened 15 paise lower at 82.20 per dollar on Tuesday against the previous close of 82.35.
Benchmark indices were trading higher in the pre-opening session. The Sensex jumped 400 pts, and the Nifty 50 was up 96 pts at 17408.
“Local equities are likely to start on a firm note in Tuesday trades, thanks to overnight gains in the US markets and subsequent upsurge in other Asian indices as investors are slowly moving away from the pessimism surrounding a hotter-than-expected inflation chatter. Besides, fall in the US dollar offers risk appetite to equity investors. However, investors will also be closely tracking moves in the Fed Funds futures market, where traders are betting on a 93.4% chance of a 75 basis point rate hike from the Federal Reserve next month. Technically, the immediate downside support for Nifty is now seen limited at 17070 and below the same, expect a waterfall of selling,” ~Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
“Nifty likely to find support at around 17100. 17500 is likely to act as resistance. Bank Nifty likely to find support at around 39200. 40300 is likely to act as resistance on the upside.”~IIFL Securities
Markets regulator Sebi has given its nod for the proposed initial public offerings of four companies — BIBA Fashions Ltd, Keystone Realtors Ltd, Plaza Wires Ltd and Hemani Industries Ltd. These companies have received their respective observation letters from Sebi, according to an update on the regulator's website as on October 14.
“Indian markets could open higher, in line with mostly higher Asian markets today and sharply positive US markets on Monday. Nifty rose for the second consecutive session on Oct 17. At close, Nifty was up 0.73% or 126.1 points at 17311.9. Nifty filled the upgap made on the previous day due to the weakness in early morning but closed much higher. It continues to show mild strength and the next resistance could come in at 17497-17532 band while support could come in at 17142-17170 band.”~Deepak Jasani, Head of Retail Research, HDFC Securities
Foreign institutional investors (FIIs) net offloaded shares worth Rs 372.03 crore, whereas domestic institutional investors (DIIs) net bought shares worth Rs 1,582.24 crore on October 17, according to the provisional data available on the NSE.
The dollar hovered near a 32-year peak above 149 yen on Tuesday even as it took a breather from a rally against other major peers, with traders bracing for possible further intervention by Tokyo to support its currency. The Aussie strengthened after minutes from the Reserve Bank of Australia's last meeting showed the decision to slow the pace of rate hikes to a quarter point instead of delivering another half point increase was “finely balanced.” The New Zealand dollar surged after a hotter-than-expected consumer price report boosted expectations for further policy tightening.
Rupee is expected to remain steady on Tuesday amid, retreat in the US dollar, a rise in risk sentiments in equity markets, and stable crude prices. In the previous session. rupee depreciated by 11 paise to close at 82.30 against the US dollar as risk-off sentiment among investors and sustained foreign capital outflows weighed on the local unit. However, a rally in the domestic equities and a weak greenback overseas restricted the rupee’s fall. Rupee has been mostly rangebound recently as the RBI likely sold dollars, according to forex analysts who believe that RBI’s continuous presence has been a big support to the rupee as it has been in the market most days since last Monday when the rupee hit a record low of 82.6825.
“Nifty on Monday filled the upgap made on the previous day due to the weakness in early morning but closed much higher. It continues to show mild strength and the next resistance could come in at 17348-17429 band while support could come in at 17142-17170 band,”~Deepak Jasani, Head of Retail Research, HDFC Securities
Indian benchmark indices are expected to extend gains on Tuesday amid global cues. Early trends on SGX Nifty hinted at a positive start for Indian equities as Nifty futures were trading 149 pts or 0.86% higher on the Singapore Exchange. In the previous session, the BSE Sensex jumped 491 points to 58,411, while the Nifty50 rose 126 points to settle at 17,312. Key base for Nifty has been formed and buying at lower levels indicate positive momentum in broader range may continue, according to Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. Analysts expect bears to come back to life only below the 17000 mark.
“Rally continued for the second straight day on 17 October as investors shrugged off weak global cues in the backdrop of a stronger-than-expected US inflation report. Technically speaking, Nifty’s immediate hurdles are seen at 17429 and then at 17589 mark. Nifty will be out of the woods only above the 17589 mark. Bears are likely to come back to life only below the 17000 mark.”~Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd
Trends on SGX Nifty hinted at a positive start for domestic equities as Nifty futures were trading 149 pts or 0.86% higher on the Singapore Exchange.
Shares in the Asia-Pacific traded higher on Tuesday after Wall Street’s rally overnight. The Nikkei 225 rose 1.46 percent and the Topix added 1.23 percent. Japan’s yen touched 149.08 against the dollar and was last trading near 148.90. South Korea’s Kospi was 1.13 percent higher. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.46 percent. In Australia, the S&P/ASX 200 gained 1.27 percent.
US stocks kicked off the trading week on Monday with a rally after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results, which lifted optimism about the corporate earnings season. The Dow Jones Industrial Average rose 550.99 points, or 1.86 percent, to 30,185.82, the S&P 500 gained 94.88 points, or 2.65 percent, to 3,677.95 and the Nasdaq Composite added 354.41 points, or 3.43 percent, to 10,675.80.
