Share Market Highlights: Sensex ends 84 points higher, Nifty closes at 11,930; Infosys, ITC gain over 2%

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Updated: October 12, 2020 4:11:17 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty ended gained for the eight day straight today after recouping some losses in the closing hour of Monday's trade.

Share Market Today, Share Market LiveAmong Asian peers, Shanghai Composite was trading with marginal gains on Friday morning while Hang Seng was down with losses along with KOSPI, KOSDAQ, TOPIX, and Nikkei 225.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices Sensex and Nifty got off to flying start to this week’s trading session but gave up most gains at closing. S&P BSE Sensex ended 84 points or 0.21% higher while the Nifty 50 closed at 11,930 mark. Although the benchmark indices gained today, Sensex ended over 300 points lower while the 50-stock Nifty closed 90 points lower. broader market failed to gain along with the benchmarks as midcap and smallcap indices fell. Volatility was high as India VIX jumped over 22 but ended just above 21 points.

UTI AMC and Mazagon Dock shares made their share market debuts today. UTI Asset Management Company shares got listed at a discount to the IPO price band while Mazagon Dock shares zoomed over 40% higher on listing, UTI AMC stocks were recouping some of the losses after getting listed but were still down from the IPO price. Mazagon Dock Shipbuilders Ltd (MDSL) is a defence public sector undertaking shipyard firm was subscribed 157 times by investors with Non-Institutional Investors (NII) over subscribing their portion 677 times. On the other hand the Rs 2,160 crore UTI AMC IPO was subscribed 2.31 times. On Friday, the grey market price of UTI AMC was running in the negative while Mazagon Dock was commanding a premium of Rs 106.

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Highlights

    16:07 (IST)12 Oct 2020
    Sensex, Nifty gain for eight day straight but FM's demand boost fails to impress Dalal Street

    Sensex and Nifty saw a volatile trading session but managed to continue gaining for the eighth day straight today. S&P BSE Sensex ended 84 points or 0.21% higher while the Nifty 50 closed at 11,930 mark. Although the benchmark indices gained today, Sensex ended over 300 points lower while the 50-stock Nifty closed 90 points lower. ITC and Infosys were the top Sensex gainers, jumping over 2% each during the day’s trade. Bharti Airtel, ONGC, and HDFC Bank were the top drags. The midcap and smallcap indices continued to underperform the benchmark index and slipped into the red.

    Read full story

    15:55 (IST)12 Oct 2020
    Motherson Sumi Systems share price falls 8.3% in intraday trade, halts 9-day gaining spree; should you buy?

    Motherson Sumi Systems share price tanked over 8 per cent to Rs 110.90 apiece on BSE in intraday deals even as most of the research and brokerage firms have a ‘buy’ rating with a potential upside of up to 27 per cent to the stock. With today’s fall, the stock has paused its nine-day streak. Last week, Motherson Sumi hosted Investors’ Day for Samvardhana Motherson International’s (SAMIL) businesses, which is set to be merged with the listed entity as part of a restructuring scheme.

    Read full story

    15:35 (IST)12 Oct 2020
    Sensex, Nifty end with gains yet again

    Benchmark equity indices managed to continue their upward march for the eight day straight with Sensex gaining 104 points and Nifty 50 closing at 11,936 mark. 

    15:19 (IST)12 Oct 2020
    Sensex, Nifty gain minutes before closing

    Sensex was up over 90 points while the Nifty 50 was still below 11,950 mark just before the closing bell on Monday. Both the benchmark indices were trading with gains. 

    15:16 (IST)12 Oct 2020
    FinMin through Rs 73,000 cr fiscal package tries to give impetus to consumer demand and infra activities

    Finance Ministry, through Rs 730bn fiscal package, tried to give impetus to consumer demand and pick up in infrastructure activities, which can give a push to GDP. In our view, announcement of Rs370bn capital spending package including Rs250bn spending from Central in roads & highways and defense sector till 31st Mar’21 bode well for infrastructure companies as this may result in sharp improvement in new ordering as well as pick up infra development works. However, the government’s effort to stimulate consumers demand by offering advances and cash voucher schemes looks to be short term in nature and lacks the commitment to have sustainable growth. This may lead to a kind of destocking led demand improvement ahead of festivals or fiscal end. However, it may not necessarily result in a sustainable recovery. This may not entice the market: Arjun Yash Mahajan, Head Institutional Business at Reliance Securities

    15:00 (IST)12 Oct 2020
    NSE FMCG: Facing Resistance at Trend-Line

    Index ended the week with minor loss of 0.29%, to close at 29924. During the week, Index found resistance at its 50 days EMA and downward sloping trend line, adjoining the previous lower tops.

    Daily RSI failed to hold above the benchmark level of 50, which indicates the under performance of the FMCG indicates against the Nifty. Close above 30400 would result in to bullish breakout Stocks with negative bias are Tataconsumer and ITC, while Stocks with Positive bias are Dabur, Marico and Colpal. Stocks like Britannia, Jublfood and Hul could consolidate.

    ~ HDFC Securities

    14:47 (IST)12 Oct 2020
    USD-INR future has support at 73 and near term resistance at 73.6

    Indian rupee started the week on backfoot following weakness in the Asian currencies and mild profit booking in domestic equities. Asian currencies depreciated after PBoC announced that the RRR rate on yuan forwards would be lowered to 0% from its current 20% level. This rule change will make it cheaper to short the yuan. Euro and pound broadly shrugged off rising covid 19 cases and comments from a few ECB speakers over weekend. USDINR future has support at 73 and near term resistance at 73.6: Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

    14:45 (IST)12 Oct 2020
    Pharmaceuticals & Healthcare: Visible recovery from COVID-19 outbreak impact

    We expect pharma and healthcare companies under our coverage to report sequential improvement during the quarter ended Sep'20. We expect easing of lockdown to support some recovery in acute portfolio and injectable products. US revenues may witness marginal growth sequentially led by improvement in volumes of injectables, specialty portfolio and new launches. We estimate India business to report marginal growth as seen in secondary sales data. We forecast the EBITDA margin of covered companies at ~20% (+70bps YoY) led by revenue growth and cost control measures. Hospitals and diagnostic centres can report significant recovery QoQ with rise in occupancy levels and pathology test volumes. Overall, we expect our coverage universe to report ~5% revenue growth.

    ~ ICICI Securities

    14:14 (IST)12 Oct 2020
    TCS, PNB among 5 stocks to ‘sell’ on weak valuations even as Sensex, Nifty back to pre-COVID level

    As bulls took charge over Indian share markets, BSE Sensex and Nifty 50 climbed back to pre-coronavirus levels. In today’s trade, the 30-share Sensex was hovering around 40,700, while the NSE’s Nifty 50 was ruling above the crucial 11,950. So far since the start of October, markets have been on a gaining spree, adding 4.4 per cent in the previous week alone.

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    13:55 (IST)12 Oct 2020
    Investors looking to invest in Gold must invest in SGB to avail dual benefits

    The seventh tranche of the Sovereign Gold Bond issue opens today, the price for this tranche is fixed at Rs 5,051/gram with a discount of Rs 50/gm for investors applying online. Investors looking to invest in Gold should take this route to avail dual benefits - avoid any overhead cost while buying/selling as compared to investing in physical gold, and benefit from the assured 2.5% interest payable per annum. Any portfolio should consist of Gold anywhere in the range of 10-15% or based on the risk-taking appetite of the investors: Nish Bhatt, Founder & CEO, Millwood Kane International

    13:23 (IST)12 Oct 2020
    Sensex, Nifty down in the red

    Benchmark equity indices were seen slipping into the red during Finance Minister Nirmala Sitharaman press conference where she announced measures to spur demand by focusing on government eployees. 

    13:10 (IST)12 Oct 2020
    Sensex and Nifty were not impressed by Finance Minister's demand boosting measures

    Stock markets lipped further and gave up almost all gains as Finance Minister Nirmala Sitharamn narrated her plans to spur demand. The move was aimed at central and state government employees. 

    13:02 (IST)12 Oct 2020
    Cash vouchers in place of LTC

    Employees of the central government can now avail cash voucher for LTC if they can't travel due to the fear of the pandemic. The money can be used to buy items attracting 12% GST or more. This will increase consumer demand, said the Finance Minister.

    12:59 (IST)12 Oct 2020
    Central government comes with incentives for central government employees

    Finance Minister today announced a scheme that is aimed to spur demand in the economy. The scheme is aimed at central government employees. 

    12:53 (IST)12 Oct 2020
    Should Mazagon Dock investors book profits now?

    "Currently Mazagon Dock is trading above the upper price band which is around Rs 192 (32% premium). We are recommending booking the profit mainly due to the PSU company (involved project execution risk due project delay). Considering the current market scenario, we expect volatility in the market. Hence any correction in stock can be a good buying opportunity for long term investors. Going ahead, Defence sector's outlook is positive mainly due to government initiative like the government has taken steps to ban 101 defence items, which clearly indicates government’s focus on indigenization to promote and create big opportunities in Indian defence sector. Going ahead, it would be beneficial for companies like MDSL. However, any correction in future would create buying opportunities in stock," said Amarjeet Maurya - AVP - Mid Caps, Angel Broking.

    12:41 (IST)12 Oct 2020
    Hitting fresh highs

    Ambuja Cement, Apollo Hospitals, Hero Motocorp, L&T Infotech, Infosys, Wipro, and J&K Cements are trading at new fresh 52-week high values. 

    12:21 (IST)12 Oct 2020
    Despite Mumbai power outage BSE, NSE functioning normally

    Leading stock exchanges BSE and NSE on Monday said said they were functioning normally, amid a major power outage in large parts of Mumbai. "There is a power failure in south Mumbai. Exchange is working normally. The listing ceremony was concluded successfully for Mazagon Shipbuilders today morning," a BSE spokesperson said.

    The National Stock Exchange (NSE) too said it is functioning normally. Large parts of the financial capital reported a major power outage on Monday morning due to a technical failure.~ PTI

    12:08 (IST)12 Oct 2020
    Mumbai power outage: Snag hits electricity supply in large parts of Maharashtra capital, local train services disrupted

    Large parts of the financial capital reported major power outage on Monday morning due to a technical failure. In a tweet, Brihanmumbai Electricity Supply and Transport (BEST) said, ”The electric supply is interrupted due to TATAs incoming electric supply failure.” Suburban local train services, operating only for essential workers at present, were affected from 1005 hours, sources said.

    Read full story

    12:05 (IST)12 Oct 2020
    Derivatives View

    Post the positive start, the Nifty witnessed follow-up buying and ended above 11900. Strong buying was seen in select banking & financial and energy stocks. Looking at option data, additions were seen in OTM and ATM Put strikes. We feel the index will witness limited downsides if profit booking emerges from its major Call base of 12000. Nifty futures ended at a premium of 15 points while IV remained unchanged. The major Put base is at the 11700 strike with almost 22 lakh shares while the major Call base is at the 1200 strike with almost 15 lakh shares.

    Reco: Sell Nifty 11700 Put (October 15 expiry) in the range of | 33-35

    ~ ICICI Direct

    11:58 (IST)12 Oct 2020
    Vedanta shares tank 22% today; public shareholder left in limbo as delisting process fails

    After the failed delisting, shares of Vedanta Limited tanked 22% on Monday to trade at Rs 94 per share. The mining major, led by billionaire Anil Agarwal, had been aiming to go private, but could not as public shareholders did not tender the required 134 crore shares that were needed for the firm to go off the stock exchanges. The floor price for the delisting of shares had been set at Rs 87.25 per share but majority of the stocks tendered till Friday by public shareholders were in the range of Rs 140-150 per share.

    Read full story

    11:51 (IST)12 Oct 2020
    Indian Railways goes green with eco-friendly loco! Adds battery-operated shunting locomotive to its fleet

    Indian Railways goes green with eco-friendly loco! The Southern Railway zone of Indian Railways has added ‘Pasumai’, an environment-friendly battery-operated dual-mode shunting locomotive to its fleet. According to the Railway Ministry, the Electric Loco Shed in Arakkonam, Tamil Nadu has converted 23061/WAG5HA Electric Locomotive into AC/Battery operated dual-mode shunting loco to work in both wired and unwired sections. In the wired section, the locomotive can work in both modes, while in the unwired section, it can work in battery mode. Some of the features of this locomotive include two sets of 110, 1100 AH, VRLA batteries, DC compressor 1000LPM, 110V DC in battery mode, three-step speed control.

    Here are some of the major advantages of this eco-friendly locomotive

    11:47 (IST)12 Oct 2020
    Wipro share price hits fresh 52-week high ahead of Jul-Sep results; Infosys, L&T Infotech reach new highs

    IT stocks continued to rally in today’s trade following a 5.3 per cent gain in the previous week. Ahead July-September earnings, Wipro share price hit a fresh 52-week high of Rs 379 apiece, rising 1.3 per cent. This week Infosys and HCL Technologies are also scheduled to announce their quarterly earnings on October 14 and October 16, 2020, respectively.

    Read full story

    11:22 (IST)12 Oct 2020
    Aviation - Traffic on recovery path; losses to narrow quarter-on-quarter

    IndiGo gains market share at the cost of Go Air and Air India: Post resumption of domestic operations in last week of May, IndiGo’s market share has risen from 48% (as on Mar-20) to ~60% in Aug-20. IndiGo has been able to capitalize on its leadership position and on the strength of its balance sheet to deploy a greater share of its capacity and improve its market share. Go Air’s market share has declined by ~500bps to 4.7% and Air India’s market share has declined by ~200bps to 9.8%.

    ~Centrum Broking

    10:54 (IST)12 Oct 2020
    COMEX gold trades higher near $1936/oz following a 1.6% gain in the previous session

    COMEX gold trades moderately higher near $1936/oz after a 1.6% gain in the previous session. Weakness in the US dollar and persisting expectations of additional stimulus has supported gold prices. However, ETF investors continue to remain on sidelines showing lack of investor buying interest. Although the general bias may be on the upside owing to weaker US dollar intermittent choppy trades possible on uncertainty relating to US stimulus: Ravindra Rao, VP-Head commodity research, Kotak Securities Ltd

    10:47 (IST)12 Oct 2020
    Appreciation is USDINR soon?

    “Last week, Indian Rupee appreciated by 0.07 percent while the Dollar Index decreased by 0.29 percent. RBI decided to keep interest rates unchanged at 4 percent and monetary policy stance accommodative. RBI sees GDP contracting by 9.5 percent in FY21 but can expect recovery from Q4FY21. US FED officials worried that a lack of further fiscal stimulus would jeopardize an economic recovery that was moving faster than expected, according to meeting minutes. The meeting featured extensive discussion about the economic outlook, as members said the economy was doing better than expected in good part because of the fiscal help provided by Washington. That support is in jeopardy as talks have broken down between the White House and congressional Democrats and may not resume before the November election. As of today traders can go for sell in USDINR at 73.30, with the stop loss of 73.50 and for the target of 72.80. We are expecting appreciation in USDINR in short term and it may test 72.50 levels soon," said Anuj Gupta  - DVP- Commodities and Currencies Research, Angel Broking.

    10:42 (IST)12 Oct 2020
    Infosys, Wipro shares hit 52-week highs today

    IT stocks such as Infosys, Wipro, L&T Infotech and Coforge shares hit their respective 52-week highs on Monday. It bellwether Wipro is set to announce July-September quarter earnings later in the day today. While Infosys and HCL Technologies will announce quarterly earnings this week

    10:31 (IST)12 Oct 2020
    Next level to watch out for Nifty 50 would be 12200-12300

    We have achieved the 12000 target this morning! The next level to watch out for would be 12200-12300. The support is now upgraded to 11750-11800. As long as the Nifty holds these levels, we are in bullish territory and every dip or correction can be utilised to accumulate long positions: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:21 (IST)12 Oct 2020
    Gold may hit $1,973 and then $1,993 based on technical charting

    After a strong consolidation in the first half of last week, precious metals comprehensively closed above key resistance levels of $1,923/oz, that has created room for further upside. The stage might be set for gold to hit $1,973 and then $1,993 based on technical charting, while for silver, it could hit $26.35 and then $27.80. With speculators raising bullish bets on COMEX gold, and while the U.S. economy is struggling to find solutions to stem the spread of COVID-19, we believe traders will continue to buy on any dip in price. Looking at support, $1,900 and $1865 will be the next key levels to keep an eye on: Debajit Saha, Senior Analyst, Precious Metals at Refinitiv

    10:16 (IST)12 Oct 2020
    Mazagon Dock Shipbuilders shares list at nearly 50% premium over IPO price on stock market debut

    Mazagon Dock Shipbuilders shares zoomed on the stock market debut on Monday as the scrip got listed at Rs 216.25 apiece on BSE, a premium of Rs 49.14 on the upper band of the issue price of Rs 135-145 per equity. The stock listed on the National Stock Exchange (NSE) at a price of Rs 214.90 per share, a 48.20 per cent premium over its issue price. The Rs 444-crore Mazagon Dock Shipbuilders IPO received a robust response, subscribing 157.41 times on the final day of the bidding process. 

    Check live prices: Mazagon Dock Shipbuilders

    10:06 (IST)12 Oct 2020
    Market in bullish phase until it gives up 11,750

    "We have achieved the 12000 target this morning! The next level to watch out for would be 12200-12300. The support is now upgraded to 11750-11800. As long as the Nifty holds these levels, we are in bullish territory and every dip or correction can be utilised to accumulate long positions," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    10:05 (IST)12 Oct 2020
    UTI AMC shares list 11% lower from IPO price; recoup some losses minutes after stock market debut

    UTI Asset Management Company shares made their stock market debut at Rs 490.25 per share, a discount of Rs 63 or 11.5% from the issue price of Rs 554 per share. In the minutes after opening the stocks were seen trading at Rs 503 apiece, up 2.77% from the listing price but still trading lower than the issue price. The second largest AMC in India saw its initial public offering (IPO) get oversubscribed by investors. Retail investors had bid for their portion of the issue 2.32 times while Qualified Institutional Buyers (QIB) subscribed their portion 3.34 times. Non-Institutional investors had undersubscribed their portion, bidding for only 93% of their portion. UTI AMC has a market capitalization of Rs 6,215 crore on listing. 

    Read full story

    09:46 (IST)12 Oct 2020
    Vedanta tanks after delisting failure

    Shares of Vedanta Limited were down 9.99% hitting the lower circuit to trade at Rs 109.90 per share. This fall comes just days after the efforts of the promoters to delist the mining major did not turn fruitful. 

    09:44 (IST)12 Oct 2020
    It is likely that RBI shall protect 73.00 level for few more sessions

    Despite Emerging Market currencies and Chinese Yuan are strengthening significantly; rupee is unable to move past 73.00 levels as RBI has emerged as an active buyer taking reserves to record $545.6 billion. However, in the need of conducting operation twists to bring the borrowing costs down for government and corporates, it will be difficult for RBI to continue buying. Hence, there is a scope of rupee appreciate close to72.50-72.70 in the medium term. None the less, it is likely that the RBI shall protect 73.00 levels for a few more sessions: Amit Pabari, managing director, CR Forex Advisors

    09:33 (IST)12 Oct 2020
    Nifty reclaims 12,000 mark for the first time since February, up 57% since March; can it gain more?

    Nifty 50 added to its gains on Monday morning and managed to reclaim the 12,000 mark, for the first time since February 20 this year. The benchmark index zoomed on opening to trade at 11,997 levels and soon after was seen reclaiming the 12,000 mark. With this, Nifty has now managed to gain over 57% since March 23, which was when the index was at its lowest so far this year. After attaining a high of 12,430 in January, Nifty 50 dropped down to 7,500 following the coronavirus-led March sell-off across the globe. 

    Read full story

    09:27 (IST)12 Oct 2020
    Top index gainers

    State Bank of India, ITC, and Axis Bank were the top Sensex gainers on Monday morning. SBI shares were up over 3% while ITC gained 2.8% and Axis Bank stock zommed 1.9%.

    09:20 (IST)12 Oct 2020
    Sensex and Nifty off to a flying start

    Sensex gained over 300 points on opening while the Nifty 50 managed to zoom past the 12,000 mark on opening bell today. This is for the first time since February that the index has moved past the 12,000 mark.

    09:09 (IST)12 Oct 2020
    Minutes before opening, Sensex and Nifty at a higher ground

    Sensex was seen sitting at 40,717 mark just minutes before openign while the Nifty was just shy of the 12,000 mark. 

    09:02 (IST)12 Oct 2020
    Pre-open session helps indices add to gains

    Benchmark indices were seen moving higher during the pre-opening session on Monday morning. Sensex crosses the 40,600 mark while Nifty reclaimed the 12,000 levels during the pre-open session. 

    09:01 (IST)12 Oct 2020
    Stocks in focus: Wipro, Vedanta, RIL, UTI AMC, Mazagon Dock, Indiabulls Housing Finance, RITES

    Wipro: IT bellwether is scheduled to announce its July-September quarter earnings later in the day today. Research and brokerage firm Centrum Broking expects Wipro to deliver 1.5 per cent QoQ constant currency revenue growth.

    Read full story

    09:00 (IST)12 Oct 2020
    Pre-open session sees Sensex, Nifty gain on opening

    S&P BSE Sensex surged over 70 points higher during the pre-open session while the 50-stock benchmark Nifty managed to reclaim the 12,000 mark.

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
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