Share Market Highlights: Sensex moves up, turns green, Nifty at 11,669; Financials lift indices higher, RIL down 8%

By: |
Updated: November 2, 2020 4:22:38 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty closed with gains after witnessing a volatile day today, dancing between gains and losses.

Share Market Today, Share Market LiveRIL witnessed its worst in at least a few quarters.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty began this week’s trading with gains. S&P BSE Sensex ended 143 points higher while Nifty 50 closed at 11,669 mark, reversing a three day losing streak. IndusInd bank was uo over 6% followed by ICICI Bank, Axis Bank, and HDFC. Index heavyweight Reliance Industries Ltd (RIL) was down 8.6% as the top Sensex drag, followed by HCL Technologies and TCS. Nifty Midcap 50 outperformed the benchmark while Nifty smallcap 50 closed with losses. 

Among sectors Nifty Auto, Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma ended with losses while all others gained during the day. Nifty Private Bank index and Nifty Bank index gained over 4% during the day. India Vix was up over 1% during the day.

Read More

Live Blog

Highlights

    16:18 (IST)02 Nov 2020
    Sensex, Nifty snap 3-day losing streak; here's what experts make of today's trading session

    Domestic benchmark indices snapped a three-day losing streak to end with gains on Monday. S&P BSE Sensex ended 143 points or 0.36% higher at 39,757 points while Nifty 50 closed at 11,669. Financials were leading the index today with IndusInd Bank surging 7% and ICICI Bank zooming 6.2% during the day, followed by Axis Bank, and HDFC. Index heavyweight Reliance Industries closed 8.6% lower today after having slipped 9% during the day. Volatility was high as the benchmark index was continued to dance between gains and losses during the day.

    Read full story

    16:06 (IST)02 Nov 2020
    Are IT stocks good to buy? Could digitalisation be overhyped as global tech cuts outlook

    Information Technology stocks have outperformed equity benchmarks over the last couple of months, as investors expect rapid digitalisation across the globe. However, domestic brokerage and research firm ICICI Securities, in a recent note, has sounded the bugle of caution taking cues from global technology giants. The note, co-authored by Sudheer Guntupalli and Hardik Sangani, warns investors about the possibility of a huge disconnect between hype and reality around accelerated cloudification / digitalisation post-Covid. They added that the September 2020 earnings/outlook of global technology firms like Microsoft, AWS, SAP, etc corroborates their thesis.

    Read full story

    15:34 (IST)02 Nov 2020
    Sensex, Nifty ends with gains

    Sensex and Nifty ended with gains on Monday after a volatile trading session. Index heavyweight RIL was down 8.6% while IndusInd Bank was the top gainer. 

    15:18 (IST)02 Nov 2020
    Stock markets trade flat just ahead of closing bell

    Sensex was up flat with a positive bias just minutes before the closing bell on Monday. Nifty was hovering around the 11,650 mark. 

    14:36 (IST)02 Nov 2020
    Nifty crosses 11,700

    Second half of the day's trading session has brought some respite for indices so far. Nifty jumped to cross 11,700 on Monday while Sensex was up over 300 points shy of the 40,000 mark. 

    14:20 (IST)02 Nov 2020
    Macquarie Research cuts RIL's target price to Rs 1,320

    "Modelled growth from FY22 on an assumed improvement in refining and chemical margins, a growth catch-up in retail, and ARPU plus margin expansion in JIO. That said, this is 23% below consensus explained by our view of a slower recovery in Reliance’s refining and chemical margins, slower pace of ARPU hikes, lower retail margins as JioMart scales up, high competition in retail, higher working capital for retail, higher capex for JIO and retail, and higher minority interests," analysts at Macquarie said in a note. 

    13:50 (IST)02 Nov 2020
    RIL partly paid shares fall 10%

    RIL's partly paid shares tanked 10% to hit the lower circuit on Monday as the fully paid up shares fell nearly 7%. RIL PP were trading at Rs 1,066 per share while RIL was trading at Rs 1,916 apiece. 

    13:16 (IST)02 Nov 2020
    Mahindra & Mahindra tractor sales grow 2%

    "In the month of October 20, overall M&M tractor sales grew ~2%. Domestic sales in October 2020 were at 45,588 units, as against 44,646 units during October 2019. Exports for the month stood at 970 units (growth of 23% over last year). M&M continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market. Auspicious festival days ahead, coupled with mechanization requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry," said Amarjeet Maurya - AVP - Mid Caps, Angel Broking.

    12:50 (IST)02 Nov 2020
    RIL shares fall to 3-month low; brokerages still not recommending ‘sell’, eyeing Jio, retail growth

    Shares of Mukesh Ambani’s Reliance Industries Ltd (RIL) fell to a three-month low of Rs 1,946 per share on Monday morning, as the stock tumbled over 5%. The oil-to-telecom conglomerate reported a net profit of Rs 10,602 crore in the July-September quarter, down from Rs 15,055 crore in the same period last year as revenues dropped. With the recent fall, RIL shares are now trading at a three-month low price. This is the first major single day correction that RIL stock has seen since May this year.

    Read full story

    12:29 (IST)02 Nov 2020
    Nifty still below 11,600 mark

    The 50-stock benchmark NSE Nifty was trading below 11,600 mark on Monday. For this week, 11,600-11,500 is an important support zone, according to technical analysts at Angel Broking.

    12:25 (IST)02 Nov 2020
    Manufacturing PMI strongly rebounds in October; output skyrockets to 13-year high, sales jump too

    The manufacturing sector in India has shown a strong rebound in the month of October, with the output surging to a 13-year high, and sales rising to the highest in nearly 12 years. Consequently, the manufacturing PMI rose to 58.9 in October, from 56.8 in September, according to the IHS Markit report. This is the strongest improvement in over a decade, which was led by the intermediate goods category, though there were also robust expansions in the consumer and investment goods sub-sectors, the report added. The relaxation in Covid-19 restrictions, improved market conditions, and the rise in demand are mainly believed to have supported new work in October.

    Read full story

    11:17 (IST)02 Nov 2020
    ICICI Bank shares zoom over 6% after net profit jumps to over 6 times, collection efficiencies improve

    Private sector lender ICICI Bank’s share price zoomed over 6% on Monday morning making it the top Sensex gainer in a volatile market. Investors reacted to the strong quarterly performance reported by ICICI Bank where the lender reported a massive 549% jump in net profit from the previous year owing to lower base. The jump was helped by a double-digit growth in non-interest income. ICICI Bank is one of the largest banks in the country with a strong credit profile. Shares of the bank have zoomed 45% since March this year.  Currently the stock trades at Rs 410 per share.

    Read full story

    11:09 (IST)02 Nov 2020
    Be bearish with stop-loss of 11,800 levels

    Nifty recovered more than 100 points from the low and finally ended the day with the losses of 28 points to close at 11642 levels. To Sum It Up, Short build up in the Nifty and Bank Nifty Futures, fall in the Nifty Open Interest Put Call ratio on the back of Call writing at 11800 levels and short build up by the FIIs’ in the Index futures segment Indicates that one should be cautious for the markets Therefore, our advise is to be bearish and use any pullback rally to build fresh short positions with the stoploss of 11800 levels. On the lower side support is seen around 11500 levels where Puts have been written.

    ~ HDFC Securities

    10:30 (IST)02 Nov 2020
    These sectors apt for long-term value investment; check this mix of large, midcap stocks to buy | INTERVIEW

    Indian share markets have recovered to the pre-COVID-19 level, while banking and financial sectors have underperformed due to uncertain loan growth, says Ajit Mishra, VP (Research), Religare Broking Ltd. BSE Sensex and Nifty 50 gained 2.4 per cent in the October, after falling 1.4 per cent in the previous month. Investors witnessed a sharp spike in COVID-19 cases globally with fresh impositions in most of the countries. In an interview with Surbhi Jain of Financial Express Online, Ajit Mishra says that investors who are looking to book profit in the current market scenario can consider the Information Technology sector. Besides, he also says that it will be important to see how the new government will take US-India relations forward post election outcome.

    Read full story

    10:17 (IST)02 Nov 2020
    Equitas Small Finance Bank shares list at loss to IPO price, begin trading at Rs 31 per share

    Equitas Small Finance Bank began trading on the stock exchanges at Rs 31 per share, soon after opening the stock price improved only to fall further after the initial few minutes of trade. The listing price was at a 6% discount to the issue price. 

    Read full story

    10:09 (IST)02 Nov 2020
    Equitas Small Finance Bank shares debut on bourses

    Equitas Small Finance Bank made a muted debut on the stock exchanges at Rs 31.3 per share, after listing at Rs 31 apiece. The listing price was at a 6% discount to the issue price. Units of Equitas Small Finance Bank were offered to investors at Rs 33 per share during the bidding phase of the IPO. On Monday, stock markets were witnessing volatility just ahead of the US Presidential Elections. Sensex and Nifty, after opening with gains, were trading in the red. Equitas Small Finance Bank initial public offering was subscribed 1.95 times by investors with retail investors subscribing their portion over 2 times.

    Check live price

    09:51 (IST)02 Nov 2020
    Nifty may be headed lower in the short-term

    "The Nifty broke 11600 on Friday which made the short term trend bearish. The index could fall further and hit 11400 as a potential target. 11700-11750 is the range of the resistance and any upside can be expected only if we start trading above these levels," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    09:28 (IST)02 Nov 2020
    Dalal Street gives up gains

    Dalal Street gave up all gains and turned red following the 4% fall registered by RIL on Monday morning. 

    09:21 (IST)02 Nov 2020
    Reliance Industries' shares fall

    Mukesh Ambani's Reliance Industries Ltd saw its shares fall 2.6% on the opening bell. RIL announced a fall in net profit in the July-September quarter. 

    Check live price

    09:20 (IST)02 Nov 2020
    Top gainers on opening bell

    ICICI Bank jumped over 6.4% on the opening bell on Monday, it was followed by IndusInd Bank, Power Grid, and Titan Company limited.

    09:19 (IST)02 Nov 2020
    Sensex and Nifty open with gains

    Sensex and Nifty opened with gains on Monday morning following strong global cues and positive macro news domestically. Sensex zoomed over 100 points on opening while Nifty was above the 11,650 mark. However, gains were trimmed margianlly in the initial minutes.

    09:12 (IST)02 Nov 2020
    Former HDFC Bank MD Aditya Puri joins Carlyle

    Aditya Puri, after his exit from HDFC Bank as its managing director last month, has now joined US-based global investment firm the Carlyle Group as a senior advisor. The Carlyle Group in a statement on Monday said Aditya Puri will advise the Carlyle team on investment opportunities across Asia.

    09:11 (IST)02 Nov 2020
    Sensex up 266 points in pre-open, Nifty just below 11,700

    The pre-open session saw Sensex jump 266 points while the 50-stock Nifty was just below the 11,700 mark. 

    09:03 (IST)02 Nov 2020
    Pre-open session take benchmark indices higher

    Sensex and Nifty registered gain in the pre-open session on Monday, following cues from Asian peers. 

    09:00 (IST)02 Nov 2020
    Sensex and Nifty gain in pre-open session

    S&P BSE Sensex gained over 350 points in the pre-open session on Monday, while Nifty 50 was seen crossing the 11,750 mark. 

    08:48 (IST)02 Nov 2020
    Asian shares rebound after China factory activity rises to near-decade high

    Asian shares bounced off one-month lows on Monday on solid data from China showing factory activity expanded at its fastest pace in a decade while oil prices skidded as many Western countries slid back into coronavirus-driven lockdowns.

    Read full story

    08:45 (IST)02 Nov 2020
    SGC Nifty inches higher

    Nifty futures on Singapore Exchange were trading 36 points higher ahead of the opening bell for domestic markets. 

    08:41 (IST)02 Nov 2020
    Market risks and opportunities from 4 possible US election outcomes; Morgan Stanley draws scenarios

    With the US Presidential Elections just around the corner, it’s imperative for investors to gear up for any shock movements or expected turns in equity markets across the globe. Stock markets are bound to react in one way or the other whether Donald Trump returns to power or Joe Biden takes a seat in the Oval Office. In a recent blog, global investment bank Morgan Stanley carved out four possible outcomes of the November 3 elections and listed down various risks and opportunities that come with all those different outcomes.

    Read full story

    08:38 (IST)02 Nov 2020
    Put option data

    Maximum put open interest is placed at 11,000 strike with 21.73 lakh contracts. 11,500 strike has 21.24 lakh contracts for the November series.

    08:35 (IST)02 Nov 2020
    Call option data

    For the November series maximum call option interest (OI) is placed at 12,000 stirke with 15.7 lakh contracts, followed by 12,500 strike with 13.53 lakh contracts.

    08:31 (IST)02 Nov 2020
    Stocks in focus: RIL, ICICI Bank, Hero Motocorp, Maruti Suzuki India, Banking shares

    Domestic benchmark indices might continue to remain volatile and lack direction ahead of the US Presidential Elections that may stretch longer than usual this time. However, this should not stop investors from looking for stock and sector specific trades. With the results season underway and domestic economic indicators hinting at a recovery from the economic woes of the pandemic, investors can find a number of stock specific trades in the current market environment. Here are some of the key stocks to watch out for during the day’s trade.

    Read full story

    08:08 (IST)02 Nov 2020
    SGX Nifty trades with gains

    On Monday morning, ahead of Dalal Street's opening bell SGC Nifty was trading 20 point higher. Nifty could take cues and open muted but in the green. 

    08:07 (IST)02 Nov 2020
    FPIs turn net buyers in Oct, invest Rs 22,033 cr into Indian markets

    Foreign portfolio investors (FPIs) turned net buyers in October in Indian markets by putting in Rs 22,033 crore as participant sentiment was driven by resumption of economic activities and robust quarterly corporate results among others.

    In September, FPIs were net sellers at Rs 3,419 crore.

    Read full story

    08:06 (IST)02 Nov 2020
    US election night strategy for share market investors; how to track and interpret early results

    US President election 2020 is just a day away, and polls suggest Democrat Joe Biden’s lead in nationals. Investors might be confused as to how to track election night, as this will be all about when markets will conclude who has won. Michael Zezas, Head of Public Policy Research and Municipal Strategy, Morgan Stanley, in a recent podcast said that for investors, election night would not necessarily be when a candidate has conceded, or when the media calls the winner; rather, it could hinge on moments when the markets conclude who has won.

    Read full story

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1LVB advised to write down Tier 2 bonds worth Rs 318 cr
    2Maharashtra sugar mills owe Rs 351.5 cr in FRP dues to farmers
    3High-priced Punjab seeds push potato production costs in West Bengal