Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices closed in green amid mixed global cues. NSE Nifty 50 rose over 70 points to trade above 18,100 levels, whereas BSE Sensex was up over 150 pts at 60,950 levels. Broader markets were volatile as Nifty SmallCap 100 index outperformed Nifty MidCap 100 index. All sectors fluctuated between gains and losses. While Nifty Metal index gained the most, over 1%, Nifty Healthcare Index and Nifty Pharma declined the most. Bank Nifty index closed in green at around 41258.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates November 4, Friday
Bajaj Finserv, Tata Steel, Ultratech Cement, SBI, Reliance, and Asian Paints were the top Sensex gainers. Dr Reddy, Infosys, Hindustan Unilever, HDFC Bank, NTPC, and Powergrid were the laggards for today.
Adani Enterprise, Hindalco, JSW Steel, Adani Ports, and Bajaj Finserv were the top gainers for today. Hero Motocorp, Dr Reddy, Divi's Lab, Hindustan Unilever, and Cipla were the top Nifty losers.
Sectorally, Nifty Metal, Nifty PSU Bank, Nifty Media, Nifty Auto, Nifty Realty, Nifty Oil & Gas, and Nifty Financial Services ended on a positive note. Nifty Healthcare Index, Nifty Private Bank, Nifty Pharma, Nifty IT, Nifty FMCG, and Nifty Consumer Durables capped the gains.
Indian benchmark indices closed in green. Sensex rose over 150 points at 60,950. Nifty settled at 18,117.
Nifty 50 was up 70 points to trade above 18100. BSE Sensex rose over 150 points at 60966. Reliance led the gains.
“We expect HeroMotocorp domestic volume to witness a CAGR of 10% over FY22-FY24E. Considering lower volumes, lag effect of passing the cost to the customers and lower export performance, we decrease our revenue/EBITDA/PAT estimates by 3%/11%/14% for FY23E and 1%/1%/4% for FY24E respectively. We expect its EBITDA margins to improve by 220bps from current level to 13.6% in FY24E on the back of commodity cost softening and operating scale. In view of likely rural revival, focus on premium segment, HMCL’s market position to capitalize on the demand recovery and attractive valuation at 14.6x FY24E, we reiterate our BUY recommendation on HMCL with revised Target Price of Rs3,000, valuing the stock at an unrevised P/E multiple of 16.5x FY24E EPS.”-Reliance Securities
Net profit went down 47.3% at Rs 1,537 crore against Rs 2,915 crore (QoQ). Revenue was up 2.4% at Rs 38,479 crore against Rs 37,572 crore (QoQ).
EBITDA fell 59.4% at Rs 1,765 crore against Rs 4,348 crore (QoQ).
Margin at 4.6% against 11.6% (QoQ).
The stock was trading at Rs 89.60, down Rs 0.95, or 1.05% on BSE. It touched an intraday high of Rs 91.35 and an intraday low of Rs 89.60.
The initial public offering of the Company will open on Wednesday, 9 November 2022, for subscription and closes on Friday, 11 November, 2022. Investors can bid for a minimum of 31 Equity Shares and in multiples of 31 Equity Shares thereafter. The offer is an Offer for Sale aggregating to Rs 1,960 crore by the company's promoters and existing shareholders.
After the launch of four IPOs (initial public offerings) this week, Dalal Street is set to witness more IPO action next week as well. Three more IPOs of companies including Archean Chemicals Industries Ltd, Five Star Business Finance Ltd and Kaynes Technology India Ltd will open for subscription next week to cumulatively raise around Rs 4,280 crore. Archean Chemicals IPO and Five Star Business IPO will both open for subscription on Wednesday and close on 11 November, while their anchor books open on Monday. Shares of these companies will be listed on exchanges on 21 November. Meanwhile, Kaynes Technology IPO will open on 10 November and conclude on 14 November.
Shares of Adani Enterprises surged 5% to Rs 3,767 intra-day and extended its gain to fourth straight day, after the company’s consolidated net profit for the quarter ended September (Q2FY23) more-than-doubled versus last year to Rs 461 crore. The company’s consolidated revenue, too, climbed nearly threefold on-year to Rs 38,175 crore.
Nifty PSU Bank index continued to outperform, up over 1% in a tepid market
“It has just been 4 days of Nov’22 and both GBPUSD and GBPINR has fallen by around 2.35 percent and 2.55 percent; touching the lower levels of 1.1147 and 92.16 respectively. The bearish trend in GBPINR is likely to continue towards 91.50 levels. Reason for this humongous fall could be attributed to two factors:
1) BoE Policy – In the recent BOE Monetary Policy, the policy setting committee hiked the interest rates by 75bps. What made the markets more chaotic was the statement by the BoE gov who said that the committee expected a recession to last for all of 2023 and the first half of 2024.
2) US Dollar Index – The greenback has surged sharply post the FOMC Policy on 2nd Nov’22. US Treasury yields have surged after the US Fed Chair's hawkish comments on monetary policy removed doubts of any lingering hopes of a near-term pivot.”-Heena Naik, Research Analyst – Currency, Angel One Ltd
Benchmark indices were trading flat amid volatility, moxed global cues. The Sensex was down 79 pts at 60770, and the Nifty was marginally lower at 18054
Shares of railway infrastructure companies Rail Vikas Nigam (RVNL) and RITES rallied up to 9%, hitting their respective record highs on the BSE intra-day on a strong business outlook. In comparison, the BSE Sensex was trading lower by 0.22% at 60,705 pts, at 11:07 AM.
Nifty PSU Bank index rose 1%, led by gains in Indian Overseas Bank, Punjab and Sind Bank, Bank of Maharashtra
“PVR looks good for breakout trade. Trading at 3-week highs, consolidation seems to be over. Expect 1900-1935 on the upside; SL at 1750.” -Rahul Sharma, Head-Reasearch, JM Financial Services
Hero MotoCorp shares fell over 2.5% after the two-wheeler manufacturer on Thursday reported a 9% decline in its consolidated net profit at Rs 682 crore for the second quarter ended September 30
Bikaji Foods International IPO has received decent response so far on the second day of bidding as investors have bid for 1.85 crore equity shares against an offer size of 2.06 crore shares. Retail investors remained supportive as they have bid 1.48 times the allotted quota, while employees have bought 79% shares of the reserved portion.
HNIs have put in bids for 77% shares of the portion set aside for them, while qualified institutional investors have bought 32,850 shares, which is 0.005% of the 58.24 lakh shares allotted for them.
28 lakh shares (2.6% equity) worth Rs 78.9 crore change hands at an average of Rs 282 per share
For the July-September quarter (Q2FY23), the metals and mining major reported a 60.8% on-year decline in consolidated net profit at Rs 1,808 crore on the back of higher expenses.
HPCL share price slipped 4%. The stock is near its 52-week low on net loss in September quarter. The state-owned oil marketing company reported the second straight quarterly loss despite revenue rising 30% to Rs 1.13 trillion.
The Indian rupee appreciated 25 paise to 82.63 against the US dollar in early trade as the American currency retreated from its elevated levels.
Sensex is down 148.97 points or 0.24 percent at 60,687.44. Nifty is down 32.20 points or 0.18 percent at 18,020.50.
The Indian equity market started the session on a sluggish note amid the weakness in the global bourses post the Fed policy outcome, wherein the benchmark index witnessed a gap-down opening. Though the dip augured well for the bulls as they retaliated as soon as the market opened and made a modest recovery to pare down the initial loss. However, the hustle continued for the entire session and post an intense tug of war between bulls and bears, the Nifty managed to settle well above the 18000 mark with a mere cut of 0.17 percent.
“The dollar index extended its gain and tested its resistance level of 112.80 once again. The US 10-year bond yields also crossed the 4.15% mark after the US Fed hiked rates and signalled further rate hikes in its upcoming policy meetings. Higher interest rates and US bond yields are pushing the economy towards a recession. We expect the dollar index to remain volatile and could hold its support level of 111.85 in today’s session. On the other hand, the rupee extended its fall amid strong gains in the dollar index. Despite the record GST collections and recent gains in the domestic equity markets the rupee is unable to hold on to its gains. A hawkish US Federal stance and monetary tightening by other global central banks has been pushing the emerging market currencies lower. We expect the rupee to remain volatile in today’s session amid strength in the dollar index but it could hold its support level of 83.35.”-Rahul Kalantri, VP Commodities, Mehta Equities
“Bullion prices ended lower on Thursday, with gold hitting a six-week low. On the other hand, silver prices rebounded to come off the day's lows. Sharp gains in the US dollar index and rising treasury yields, along with lower crude oil prices, exerted pressure on the precious metals. On Friday, the US economic calendar will reveal employment figures with the Nonfarm Payrolls October’s report. Investors will be eyeing the unemployment rate and salaries that could flash signals of weakening in the labor market. Gold has support at $1624-1616, while resistance is at $1648-1658. Silver has support at $18.95-18.78, while resistance is at $19.58-19.72. In INR terms gold has support at Rs 50,020-49,850, while resistance is at Rs 50,440, 51,610. Silver has support at Rs 57,680-57,210, while resistance is at Rs 58,780–59,210.”-Rahul Kalantri, VP Commodities, Mehta Equities
JK Lakshmi Cement recorded a 29% on-year decline in consolidated profit at Rs 61.8 crore for the quarter ended September FY23 impacted by higher power & fuel cost. Revenue from operations increased by 13.6% to Rs 1,373.5 crore compared to same period last year.
Hero MotoCorp recorded standalone profit at Rs 716 crore for the quarter ended September FY23, down 10% on-year due to lower other income and weak operating performance. Revenue at Rs 9,075 crore for the quarter increased by 7.35% compared to year-ago period.
In the options segment, the coming week data hints that open interest is scattered in call options in 18100-18500 strikes, but on the put side, there’s decent open interest build up at 18000 strike. Going by the data, it seems that 17900-18000 would be seen as key support range for the near term and if this support is breached, then we could see unwinding of positions which could then lead to a short-term corrective phase in index up to 17600-17500. Thus, traders should watch out for this support and place stoploss on existing long positions below the same. On the flipside, 18200 is the immediate resistance which if surpassed, could then result in a continuation of the momentum towards 18400-18500.
BSE Metal index rose 1%, supported by gains in Welspun Corp, Vedanta, APL Apollo Tubes
“There are two broad trends, one negative and the other positive, in the market now. The negative trend is the rising interest rates globally. The Fed’s message that the terminal rate in this rate hiking cycle would be higher than expected earlier is a negative for equity markets. Bond yields (10-year US bond yield is at 4.15%) and the dollar index (112.8) are moving up dragging equity markets down. But even in this unfavourable environment, FII flows into India are rising. FIIs have been buyers in the cash market for the sixth straight trading day. This vote of confidence in India is a clear positive.
For the near-term the influence of these negative and positive factors will keep the Nifty in a range with no breakouts or breakdowns. However, individual stocks will witness sharp movements responding to the Q2 results. In the present context of high valuations for growth stocks there is value in certain pockets like PSU banks.”- VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Hindalco Industries, Bajaj Finserv, Tata Steel, JSW Steel and Adani Enterprises were among major gainers on the Infosys, Hero MotoCorp, Divis Labs, Dr Reddy's Labs and Apollo Hospitals were the losers.
Flat opening for Sensex with fractional uptick
Nifty opens near 18,100
“Today, markets are likely to make cautious start amid weak global cues. On the technical front, the key resistance level for Nifty50 is 18200 and on the downside, 17900 can act as strong support. Key resistance and support levels for Bank Nifty are 41700 and 40900 respectively.”-Mohit Nigam, Fund Manager & Head – PMS, Hem Securities
Indian rupee opened 28 paise higher at 82.60 per dollar on against previous close of 82.88. USDINR is expected to trade sideways in the range of 82.50 and 83.30. In the previous session, rupee depreciated against the US dollar after the US Federal Reserve raised interest rates and maintained a hawkish stance. At the interbank foreign exchange market, the local unit opened at 82.87 and it fell intraday to finally settle at 82.90 against the American currency, down 10 paise over its last close. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 1.39% to 112.89.
Benchmark indices are trading marginally lower in the pre-opening session. Sensex was down 281.26 points or 0.46% at 60555.15, and the Nifty was down 54.80 points or 0.30% at 17997.90.
Gold prices were steady on Friday, but the metal was headed for a second straight weekly drop as a stronger dollar and U.S. Federal Reserve's hawkish policy stance clouded outlook for the non-yielding bullion. Spot gold rose 0.1% at $1,631.33 per ounce, as of 0043 GMT, but it was down 0.6% for the week so far.
“Indian markets stood steady with Nifty managing to stay above 18k zone for the last 2 days, despite weakness in global markets. US Fed’s 75bps rate hike and weak Chinese economic data dented investor’s sentiments globally. Strong domestic cues along with positive FII flows for last few days are providing the much-needed support to Indian equities.”-Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
HDFC: Housing Development Finance Corporation Ltd (HDFC) reported a net profit of Rs 4,454.24 crore for the July-September quarter
Vodafone Idea: Vodafone Idea on Thursday said its net loss rose 4.1% on-quarter to Rs 7,595.5 crore during the July-September quarter.
Adani Enterprises: Adani Enterprises’ net profit soared to Rs 461 crore in the second quarter of fiscal year 2022-23 (Q2 FY23).
Benchmark indices NSE Nifty 50 and BSE Sensex are expected to see a muted start as trends in the SGX Nifty hinted at a opening for the Indian share market. “Markets are taking a breather after the recent surge and it’s healthy for the overall trend. However, the recent uptick in volatility on the global front especially in the US may trigger erratic swings in between. Participants shouldn’t worry much about short-term fluctuation and maintain their focus on utilising the intermediate consolidation phase to gradually accumulate fundamentally sound stocks,” said Ajit Mishra, VP – Research, Religare Broking.
– NIFTY50 traded volatile with sharp swings at both ends and closed flat to negative for the day. Nifty closed down by 30 points at 18,052 levels.
– Among the Nifty stocks, 24 advanced and 25 declined during the day.
Among sectors, IT was a mixed bag with Auto, IT and Consumer declining by 0.3% average while Banks, FMCG and Realty gained by 0.5% for the day.
– Nifty Nov futures end with 66 point premium at 18118 mark while on other hand, Bank Nifty Nov futures ended with a premium of 161 points at 41459 mark.
“The key technical indicators are positively poised on weekly timeframe chart, while its daily indicators are on the verge of a bearish crossover. As mentioned earlier, the index will continue to find support at around crucial 40700-mark. In case of breakdown, the index could move towards 40400-level initially and 39900-mark subsequently. On the higher side, 41500-level cap the up-move. Since 25th Oct’22, the index failed to surpass that level convincingly. As for the day, support is placed at around 40919 and then at 40540 levels, while resistance is observed at 41578 and then at 41857 levels.”-Reliance Securities
“The key technical indicators are positively poised on medium-term timeframe chart, while short-term indicators reversed from the higher level and near-term indicators are negatively poised. We continue to believe that near-term decline cannot be ruled out before a fresh up-move. This could drag the index towards 17900 level initially and 17800 mark subsequently. On the higher side, the index will face hurdle around 17175-17210 zone. As for the day, support is placed at around 17,973 and then at 17,892 levels, while resistance is observed at 18,120 and then at 18,187 levels.”-Reliance Securities
BIOCON (PREVIOUS CLOSE: 280) BUY
For today’s trade, long position can be initiated in the range of Rs 277- 275 for the target of Rs 284 with a strict stop loss of Rs 272.
TRENT (PREVIOUS CLOSE: 1,545) BUY
For today’s trade, long position can be initiated in the range of Rs 1,530- 1,520 for the target of Rs 1,595 with a strict stop loss of Rs 1,490.
SRTRANSFIN (PREVIOUS CLOSE: 1,240) BUY
For today’s trade, long position can be initiated in the range of Rs 1,228- 1,220 for the target of Rs 1,282 with a strict stop loss of Rs 1,204.
The Bank of England raised interest rates by 75 basis points to 3% on Thursday from 2.25%, its biggest rate rise since 1989 as it warned of a “very challenging” outlook for the economy.
Bikaji Foods International IPO garnered bids for 1.38 crore equity shares against an offer size of 2.06 crore shares, 67% booking on 3 November, the first day of bidding. Retail investors have bought 110% shares of the allotted quota, and employees have bid for 52% shares of the portion set aside for them. The company has reserved 2.5 lakh shares for its employees who will get those shares at a discount of Rs 15 per share on the final issue price.
“The current market texture is non-directional perhaps traders are waiting for either side breakout. “For the bulls now 18150 and 61100 would be the fresh breakout levels and above which the indices could rally till 18250-18300 and 61300-61500. On the flip side, a fresh round of selling is possible only after dismissal of 17950 and 60500 levels. Below which, the indices could slip till 17850-17800 and 60300-60150.”-Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
“Nifty opened lower and filled the upgap made on Nov 01. It however clawed back erasing almost all losses, outperforming most other markets. However, it may find it difficult to go against the overall trend in case the selloff in other markets continue. Nifty could now face resistance in the 18106-18145 band while 17838-17899 band could offer support in the near term.”-Deepak Jasani, Head of Retail Research, HDFC Securities
“The benchmark Nifty mostly traded volatile after the Federal Reserve raised another 75 bps tremendous-rate hike which brought the target range for the federal funds rate to 3.75%-4%. But the positive takeaway was that after morning drubbing, Nifty bulls regrouped at lower levels to end slightly lower for the day and clearly outperformed its global peers. Technically Speaking, Nifty has support at 17907 mark.”-Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
An hour before the Indian stock markets open, SGX Nifty turned green, hinting at a flat to positive start for Indian benchmark indices. Nifty futures were trading 10 pts or 0.06% up at 18,124 on the Singapore Exchange.