Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed on a higher note on October 14. The BSE Sensex jumped 650 points or 0.80% to finish the day’s trading at 82,030. The NSE Nifty 50 rose 180 points or 0.72% to settle at 25,145. The Bank Nifty closed the day’s trading 1.38% higher at 51,878. Following the overall market sentiments, the Nifty Midcap 100 closed the session 264 points or 0.45% higher at 59,476.
The NSE Nifty 50 closed 0.72% higher at 25,145 while the BSE Sensex closed 0.80% higher at 82,030.
Wipro, Tech Mahindra, HDFC Life Insurance, L&T, and HDFC Bank were the top gainers in the Nifty 50. Meanwhile, ONGC, Maruti Suzuki, Tata Steel, Bajaj Finance, and UltraTech Cement were the major losers in the Nifty 50 on October 14.
"The WPI inflation rose mildly to 1.8% in September 2024 from 1.3% in August 2024, while printing in line with ICRA’s expectations (+1.9%). The uptick was entirely led by an adverse base-led surge in the primary food articles inflation print to a 14-month high of 11.5% in September 2024 from 3.1% in the previous month. This exerted upward pressure to the tune of 156 bps to the headline WPI print between these months, which was partly offset by dips in most other categories including fuel and power, crude petroleum and natural gas, and non-food manufactured items," said Aditi Nayar, Chief Economist and Head of Research and Outreach at ICRA on WPI numbers.
Indian Energy Exchange fell over 6% to an intra-day low of Rs 192.06. The lower band for the stock is placed at Rs 184.13. The stock touched its 52-week low of Rs 121.35 on October 26, 2023.
Oriental Hotels reported a net profit of Rs 92 million for Q2, down from Rs 104 million in the same quarter last year. Revenue for the quarter stood at Rs 1.03 billion, compared to Rs 904 million in the year-ago period. While headline numbers appeared muted, the company's operational performance showed year-on-year improvement.
Shares of Exide Industries Limited (EIL) were trading at Rs 523.70, down by Rs 6.80 or 1.28% on the NSE today, after opening higher at Rs 533.20, compared to the previous close of Rs 530.50. On October 10, 2024, EIL announced a further investment of Rs 99.99 crore in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. This investment raises EIL’s total investment in EESL to Rs 2,852.24 crore.
Shares of PNC Infratech rose by 6% in morning trade on Monday, October 14, following the announcement that the company has received a Letter of Acceptance (LOA) for a Rs 2,040 crore EPC project from the City & Industrial Development Corporation of Maharashtra (CIDCO). The stock opened at Rs 455.10 on the BSE, nearly 3% higher than its previous close of Rs 440.60, and reached an intraday high of Rs 467.75 as gains continued to build.
Shares of Premier Energies surged by over 7% on Monday, October 14, following the announcement that its subsidiaries, Premier Energies International Private Ltd and Premier Energies Photovoltaic Private, have secured multiple orders totaling Rs 765 crore.
At midday trading on the BSE, 2,051 stocks were advancing out of a total of 4,024 listed securities, while 1,803 declined and 170 remained unchanged. Notably, 216 stocks reached their 52-week highs, and 22 hit their 52-week lows. Additionally, 342 stocks encountered their upper circuit limits, while 198 stocks hit the lower circuit.
Hindustan Aeronautics shares surged over 2% to an intra-day high of Rs 4,544.80 after finance minister Nirmala Sitharaman approved Maharatna status to HAL. The company has become the 14th PSU to join the elite group.
Commenting on the derivative market outlook Anand James, Chief Market Strategist, Geojit Financial Services said Nifty weekly contract has highest open interest at 26000 for Calls and 25000 for Puts while monthly contracts have highest open interest at 27000 for Calls and 25000 for Puts. Highest new OI addition was seen at 26000 for Calls and 24950 for Puts in weekly and at 25800 for Calls and 24000 for Puts in monthly contracts.
James also added FIIs decreased their future index long position holdings by 0.13%, decreased future index shorts by 1.56% and in index options, 35.12% increase in Call longs, 6.70% increase in Call short, 27.72% increase in Put longs and -4.36% increase in Put shorts
JSW Renew Energy Thirteen Limited, a step-down subsidiary of JSW Energy Limited, has signed a Power Purchase Agreement (PPA) with NTPC Limited for a 700 MW solar project. The project, connected to the ISTS/STU network, is set to be commissioned by June 2026. The 25-year agreement features a tariff of Rs 2.59 per kWh. Shares of JSW Energy Limited were trading at Rs 706.35, down by or 0.05% on the NSE.
"Crude oil showed very high price volatility and showed profit-taking from their highs amid downbeat U.S. economic data. The U.S. crude oil stocks also unexpectedly surged last week despite Hurricane Milton supply disruptions. The dollar index is also trading at 2-month highs and also limiting gains of crude oil. However, escalating tensions in West Asia are supporting crude oil prices in the international markets. Chinese stimulus hopes after the long holidays are also supporting market sentiments. We expect crude oil prices to remain volatile in today’s session," said Rahul Kalantri, Vice President of Commodities at Mehta Equities.
Infosys, Tech Mahindra, Mphasis, Persistent Systems, and LTIMindtree were the top five contributors to the Nifty IT index on October 14. Also, Tech Mahindra and Wipro were the top gainers in the Nifty 50.
Courtesy: NSE
BSE, Torrent Power, Policy Bazaar, Federal Bank, and Oberoi Realty were the top five contributors to the upside of Nifty Midcap 100 on October 14.
Courtesy: NSE
Gensol Engineering Limited has secured a significant contract worth AED 81.6 million (₹186 crore) for a 23 MWp rooftop solar project in Dubai. The company will design, construct, and maintain solar photovoltaic systems for the engineering facilities of a leading aviation company in Dubai. Following the announcement on October 14, 2024, Gensol Engineering's shares were trading at Rs 851, up by Rs 24.55 or 2.97% on the NSE at 10 am today.
"On the weekly chart, Bank Nifty formed a bearish candle with a long lower shadow, indicating buying interest at the lower band of the rising channel. A sustained move above 51,500 could lead the index toward 51,800-52,000 levels, while a break below 51,000 may trigger selling pressure, taking it down to 50,800-50,500," said Kunal Kamble, Sr. Technical Research Analyst at Bonanza.
"International and domestic gold and silver prices rebounded strongly on Friday after U.S. PPI data solidified rate cut hopes. Data showed U.S. PPI was unchanged in September from August 202 4, below the previous month's 0.2% uptick and lower than forecasts of a 0.1% rise, although the annual core rate accelerated to 2.8% from an upwardly revised 2.6% and above expectations of 2.7%. Markets see an 87% likelihood of a 25-bps cut from the Fed next month versus 97% in the previous week. Bullion also found support due to geopolitical tensions and election uncertainties in the U.S. On the physical front, gold dealers in India charged premiums for the first time in two months this week as the upcoming festival season attracted some jewellery buying," said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Shares of Reliance Industries (RIL) will be closely watched today as the company prepares to announce its quarterly results for the July-September 2024 period later in the evening. The stock has recently faced pressure, dropping over 6% in the past month, weighed down by weak global cues and foreign outflows impacting heavyweight stocks.
HDFC Bank, L&T, Infosys, Reliance Industries, and Kotak Mahindra Bank were the top five contributors to the early gains of Nifty 50 on October 14.
Courtesy: NSE
The NSE Nifty 50 opened 0.25% higher at 25,026 while the BSE Sensex was up 187 points or 0.23% at 81,569.
"IT and banking stocks will likely remain resilient due to expected good Q2 numbers. However, there is only limited scope for the market to move up sharply from here. FY25 earnings expectations have been downgraded by most analysts. The uncertainty surrounding the US presidential elections next month also is likely to weigh on markets along with the geopolitical tensions in the Middle East," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The one-month lock-in period for shareholders will end on Monday, October 14, making 12.6 crore shares, or 2% of the company’s outstanding equity, eligible for trading. However, this does not imply that all these shares will necessarily be sold in the open market.
The parent of Dmart reported a 5.8% rise in net profit for Q2, reaching Rs 659.6 crore. Revenue grew by 14.4% to Rs 14,444.5 crore during the same period. EBITDA saw an 8.8% increase to Rs 1,094 crore, though the EBITDA margin narrowed by 40 basis points, slipping to 7.6% from 8% a year ago.
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