Market HIGHLIGHTS: Nifty ends above 17900 for first time, Sensex tops 60100; HDFC Bank top contributor

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Updated: October 11, 2021 4:17:44 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty ended in the positive territory on Monday

Share Market Today, Share Market LiveNifty Auto gained 2.7 per cent, and Bank Nifty added 1.37 per cent. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in green on Monday. NSE Nifty settled above 17900 for the first time. BSE Sensex gained 77 points or 0.13 per cent to end at 60,136, while NSE Nifty 50 rose 50 points or 0.3 per cent and settled at 17,945. Maruti Suzuki, Power Grid Corporation of India, ITC, NTPC, State Bank of India (SBI), Kotak Bank, HDFC Bank, ICICI Bank, were among top index gainers. On the flip side, Tata Consultancy Services (TCS), Tech Mahindra, Infosys, HCL Technologies, Reliance Industries Ltd (RIL), Bharti Airtel were aong top index draggers. On the sectoral front, barring Nifty IT, all the sectoral indices ended in the green. Nifty Auto gained 2.7 per cent, and Bank Nifty added 1.37 per cent.

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Highlights

    15:41 (IST)11 Oct 2021
    Nifty ends above 17900 for the first time ever

    BSE Sensex gained 77 points or 0.13 per cent to end at 60,136, while NSE Nifty 50 ended above 17900 for the first time at 17946, up 50 points or 0.3 per cent

    14:53 (IST)11 Oct 2021
    NSIL/ISRO, Bharti backed OneWeb collaborates for digital connectivity

    Bharti backed OneWeb, the low Earth orbit satellite communications company, today announced an arrangement through Letter of Intent with NewSpace India Limited (NSIL), the commercial arm of Indian Space Research Organisation (ISRO) to use Indian-built PSLV (Polar Satellite Launch Vehicle) and the heavier GSLV-MkIII (Geosynchronous Satellite Launch Vehicle) as potential platforms to launch OneWeb’s satellites in India from 2022. The non-binding Letter of Intent was unveiled at the launch of Indian Space Association (ISpA) in the presence of the Hon’ble Prime Minister of India Sh. Narendra Modi. OneWeb is amongst the founding members of ISpA, which strives to be the collective voice of space and satellite companies in India and will work with stakeholders across for the development of India’s space ecosystem.  

    14:36 (IST)11 Oct 2021
    Sensex likely to touch 60600

    Some support may come as a private report stated that the Indian job market maintained its record high for the third consecutive month in a row. Our research suggests that 59600-59800 will be an important support level in the market. If the market sustains above 59600-59800. We can expect the market to trade in the range of 59600-60600. Technical indicators also support positivity in the market. Gaurav Garg, Head of  Research, Capitalvia Global Research

    14:34 (IST)11 Oct 2021
    Indian stock markets in early stage of bull run; Nifty set to see 21,000 levels

    Indian equity benchmark indices Nifty hit much-awaited 18000 marks in today’s session making a new high and traded comfortably above this phycological level. The rally in Indian market is special as it was achieved despite muted global clues, global energy crisis, inflation threats and muted FII participation. We are in the initial phase of the exuberant bull run which is well supported by earning improvements, record tax collections, and participation of new investors will surely help Nifty make new highs in upcoming months. There is no sign of topping out yet and markets are in the early stage of equity bull run which may take Nifty to 21000 level before witnessing a significant correction. Core market segments such as Banks, Auto, Financial sectors are driving the rally now and ready to take nifty to higher levels. Yes, there could be few corrective sessions in between however the same will be considered as buying opportunity. Sandeep Matta, Founder, TRADEIT Investment Advisor

    14:31 (IST)11 Oct 2021
    Charts show Nifty may scale 18700

    The key technical indicators are positively poised. We continue to believe that undergoing positive momentum could take the index towards 18,500-18,700 levels. In case of decline, the index will find strong support at around 17,600-level. Vikas Jain, Senior Research Analyst at Reliance Securities

    14:07 (IST)11 Oct 2021
    Bulls continue to rally

    “Nifty Index crossing 18,000 levels marks the continuation of the bull phase in the India markets. There are strong positive sentiments on the domestic front, even though the global cues are pointing towards increasing risks. Central banks across the world are expected to unwind their balance sheet expansion sooner than later to counter increasing inflation. In addition, this earnings season in India is going to be extremely critical, given that P/E of Nifty is above 27x and earnings need to keep pace with the same. Overall, we are cautious at this point of time and waiting for a definite conclusion on the tussle between global cues and domestic developments," said Mohit Ralhan, Managing Partner & Chief Investment Officer of TIW PE.

    13:39 (IST)11 Oct 2021
    Disinvestment-bound PSU stocks rally after Air India privatisation bid; BPCL, Container Corp shares gain

    PSU stocks bound for disinvestment were trading with gains on Monday as investors cheered the long-pending Air India privatisation with hopes pinned on more such disinvestments soon. Shares of Bharat Petroleum Corporation of India (BPCL) -- another PSU firm marked for divestment -- jumped 1% to trade at Rs 454.80 per share. Container Corporation of India and IDBI Bank stocks were also up in the green. The positive momentum towards PSU stocks comes as the government announced the privatisation of Air India, which will see the national carrier head back to the Tata Group after a 68-year gap. Air India’s divestment marks a major win for the government that had been working to sell the debt-laden carrier for years now.

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    13:20 (IST)11 Oct 2021
    Reliance share hits fresh record-high, charts suggest 10% more rally; should you buy, sell, hold?

    RIL share price surged over 2 per cent to scale a fresh record high of Rs 2,724.70 apiece on BSE in intraday deals. Mukesh Ambani’s Reliance Industries Ltd on Sunday announced two back-to-back acquisitions: i) $771 million (about Rs 5,800 crore) buyout of Norway-based solar panel manufacturer REC Solar Holdings; ii) purchase of 40 per cent stake in Shapoorji Pallonji Group’s Sterling & Wilson Solar, as the company aims to create a multi-billion-dollar clean energy portfolio. RIL surpassed its previous record high of Rs 2,683.90 per share, hit on 8 October 2021. Technical analysts say that the chart patterns seem to be very bullish in RIL, and see another 10 per cent rally from the current levels.

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    13:10 (IST)11 Oct 2021
    Aditya Birla Sun Life listing; should you hold or sell?

    "Listing of Aditya Birla Sun Life AMC's share received a tepid response, a 0.4% premium over issue price of Rs 712 apiece. Before listing, its grey market premium trend signaled neutral response of investors. Company is the largest non-bank affiliated AMC in the country and fourth largest on the basis of its AUM. However, it is consistently losing market share since a long time now. During Q3 FY19, its market share was 10.26% and now in Q2 FY22 it has dropped down to 8.26%. Listing was offered at a PE of 39 which is at a discount to PE of HDFC AMC and Nippon Life India AMC which makes it reasonably valued at this point. Going forward, ABSL AMC's share could witness decent performance considering the company shows growth in terms of market share and profitability," said Mohit Nigam, Head - PMS, Hem Securities.

    12:11 (IST)11 Oct 2021
    Nifty set to hit 18350 in short term

    We are in a bull post the March 2020 fall and Nifty has seen no stop henceforth. The sentiments have been positive and the government push to various sectors, we are seeing, have different tailwinds. Nifty today crossed a psychological mark of 18,000 and with we can see Nifty touching 18300-18350 in a short time from here. Going ahead, 17700-17800 will continue to hold strong support for the market. Ashish Chaturmohta, Director Research, Sanctum Wealth

    11:36 (IST)11 Oct 2021
    Nifty may rally to 18,600; technical charts suggest

    Nifty is in the sweet spot, technically, for the bulls even at higher levels because the weekly Heikin Ashi candles are trending bullish. If we look at the regression channel on the daily chart from the low of April 2021, a fresh momentum breakout is visible. This indicates the upper resistance line is at 18,400 levels. The recent dip to 17,452 marked the short-term bottom with multiple reversal patterns like the Bullish Reciprocal AB=CD, Bullish Gartley, and Morning Star bullish reversal candlestick pattern. With the breakout of the ascending triangle today, bulls are on cloud nine. They are likely to take the index to the 18,400-18,600 zone. Bears can take control only on a break below the 17,400-17,300 zone. Brijesh Bhatia, Senior Research Analyst, Equitymaster

    11:24 (IST)11 Oct 2021
    What's fueling the rally in Nifty50?

    The positivity is maintained as the new investments from foreign investors continue to pour in after the crisis in China. Continuous decrease in the number of corona cases and the decrease in the possibility of 3rd wave has added to the positive sentiments in the market resulting in a steep rise in the Nifty index. Ashis Biswas, CapitalVia Global Research 

    11:14 (IST)11 Oct 2021
    Open Interest data provides bullish clues for Nifty

    Nifty hits the 18,000 mark, a record high, on the back of strong gains witnessed in banking stocks, particularly HDFC Bank, ICICI Bank, Kotak Mahindra. Even bellwethers such as Reliance contributed to today’s historic move. However, the notable exception today was TCS, which is down 5%, post its results announcement. Advances are almost 3 is to 1, clearly indicating a broad-based rally. Further. Open Interest data also provides bullish clues. Bears are nowhere to be seen, and its Bulls all the way so far. Stay invested but be prepared to live with volatility in coming weeks and months. Aamar Deo Singh, Head Advisory, Angel One

    11:11 (IST)11 Oct 2021
    Nifty may face resistance near 18280

    Robust company’s valuations, government reforms, boost up economic activities, improved macro indicators numbers and strong FII buying has certainly strengthened the confidence of market participants which fuelled the Nifty rally to reach its all time high. The existing liquidity in the market due to these factors was the driving force of the primary markets. Pharma, IT, Realty and Banking sectors have contributed the most in this rally and will remain strong in near term also. Technically, all indicators are in bullish momentum right now. Nifty may face resistance near 18280 with a strong support near 17920. It is advisable to take buying position on dips. Ravi SinghVice President & Head of Research, ShareIndia Securities

    11:03 (IST)11 Oct 2021
    TCS share price tanks nearly 7% on tepid Q2 results, top Sensex loser; should you buy, sell, hold?

    TCS (Tata Consultancy Services) share price tanked nearly 7% on Monday morning as investors reacted to the quarterly results of the second most valuable listed company in India. TCS share price hit an intra-day low of Rs 3,660 per share, 6.9%. The IT major was the worst-performing stock on S&P BSE Sensex, while the benchmark index was nearing all-time highs. On Friday, TCS reported a 29% on-year growth in consolidated net profits for the July-September quarter. The Tata Group company has also approved an interim dividend of Rs 7 per equity share for its shareholders.

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    10:59 (IST)11 Oct 2021
    Nifty may rise to 18250 sustaining above 18000 levels

    18000-18030 will be an important resistance zone in the market for a short period of time and we can witness a correction till the levels of 17770-17800. Although there is significant positivity in the market, if the market is able to sustain above this resistance zone, we can expect the market to the level of 18250. Ashis Biswas, CapitalVia Global Research

    10:51 (IST)11 Oct 2021
    Rupee to trade in 74.80-75.30 range in near term

    RBI could allow Rupee to depreciate and hence movement towards 75.30-75.50 can be expected in the near term. The inflow story could act on behalf of RBI in the near term and try to suppress the bearish move; but largely strengthening USD, higher US 10 year benchmark yield on account of next month’s Fed tapering could keep EM FX and thus Rupee on its toes. Overall, the USDINR pair is expected to remain bullish with an expected range of 74.80 to 75.30 in the near term and 74.50 to 75.50 over the medium term. Amit Pabari, managing director, CR Forex Advisors

    10:48 (IST)11 Oct 2021
    Nifty hits 18000; what should investors do now?

    Loose monetary policies across the globe including India & unprecedented buying euphoria have led to Nifty hitting 18000 levels in the fastest ever bull rally.  However, investors should keep booking profits on every rise as if and when a correction happens, it will be sharp. Immediate strong support for Nifty remains at 17860. AR Ramachandran, Co-founder & Trainer, Tips2Trades

    10:47 (IST)11 Oct 2021
    Nifty hits 18,000

    NSE Nifty hit a fresh high of 18,000 on Monday. BSE Sensex was above 60,300. RIL share price touched a fresh record high level

    10:44 (IST)11 Oct 2021
    Nifty at new high of 17992 now

    Nifty was trading just shy of 18,000 levels, at 17,992.30 in morning deals on Monday

    10:28 (IST)11 Oct 2021
    Nifty may hit 18,200, if it closes above 17,950

    The markets are cruising well above the 17950 level! If we can sustain this on a closing basis, the Nifty should be headed to 18200 as the next pit stop. The updated support for the week is 17800. This makes for a good risk/reward ratio and hence dips or intraday corrections can be utilized to enter fresh long positions. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:23 (IST)11 Oct 2021
    Expect breakout if Nifty crosses 17945, for a target of 18111

    Nifty has unfilled gaps on daily charts starting from the Island reversal. Expect another breakout if we cross 17945 for a target of an important Fibonacci level of 18111. Supports at 17840 and 17650. Rahul Sharma, JM Financial Services

    10:14 (IST)11 Oct 2021
    Gold trades rangebound

    COMEX gold trades marginally higher near $1760/oz after a 0.1% decline in previous session. Gold is rangebound as support from choppy US dollar post mixed US non-farm payrolls report is countered by higher bond yields which have jumped to June highs. Amid other factors, supporting gold is rising inflation concerns and growth worries however ETF outflows show continuing exodus by investors. Gold’s sharp retreat from Friday's high shows lack of confidence in the bulls however price may remain supported by increasing challenges for the US and global economy. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities

    10:12 (IST)11 Oct 2021
    Aditya Birla Sun Life AMC makes flat stock market debut; starts trade at IPO price of Rs 712

    Aditya Birla Sun Life AMC stock made a flat listing on the stock exchanges on Monday, 11 October, on volatile market momentum. Shares of Aditya Birla Sun Life AMC opened for trading at Rs 712 apiece. The Rs 2,768-crore public issue was sold in a price band of Rs 695-712 per share. On listing, the company had a market capitalization of Rs 20,505.60 crore. The IPO (Initial Public Offering) of Aditya Birla Sun Life AMC, concluded earlier this month, saw 5.25 times subscription. 

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    10:10 (IST)11 Oct 2021
    If Nifty hits 18,000, it may add 300 points more from 18k levels

    Nifty has tested a fresh incremental high by moving past the previous high point of 17947. However, looking at this week, the maximum Call OI is at 18000. So, given this fact, unless a strong tactical thrust occurs, there are mild possibilities of markets consolidating again. So, this keeps Nifty in the present 17450-17950 consolidation zone. If the Nifty is able to move past 18000 level and keep its head above that, then we may see the Index putting on incremental 200-300 points from 18k levels. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

    10:08 (IST)11 Oct 2021
    Nifty nears 18,000 level

    Nifty was trading nearly half a per cent up, nearing the crucial 18,000 level. Currently, NSE Nifty was ruling at 17,981

    09:28 (IST)11 Oct 2021
    Nifty IT tanks 4%; Bank Nifty jumps 0.5%

    On sectoral front, Nifty IT tumbled over 4 per cent. On the flip side, all the sectoral indices were trading in the green. Bank Nifty was up over half a per cent, Nifty Auto gained over one per cent and Nifty Metal added nearly one per cent

    09:25 (IST)11 Oct 2021
    TCS, Infosys, Bharti Airtel top Sensex losers

    Tata Consultancy Services (TCS), Tech Mahindra, Infosys, HCL Technologies, Bharti Airtel were among top Sensex laggards, down up to 7 per cent

    09:24 (IST)11 Oct 2021
    RIL, Maruti Suzuki, Kotak Bank top Sensex gainers

    Maruti Suzuki, Power Grid Corporation of India, Kotak Mahindra Bank, Mahindra and Mahindra, Reliance Industries Ltd (RIL) were top BSE Sensex gainers

    09:20 (IST)11 Oct 2021
    Sensex, Nifty fall on opening

    BSE Sensex was down 88 points or 0.15 per cent at 59,971, while Nifty 50 was trading in red, below 17,900 levels

    09:20 (IST)11 Oct 2021
    Petrol and diesel price Today: Seventh-day of price hike sends fuel rates in Delhi, Mumbai to record highs

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Price of petrol and diesel were hiked by oil marketing companies for the seventh consecutive day on Monday, taking fuel rates to record highs as crude oil prices soar. Petrol in the national capital today costs Rs 104.44 per litre, up 30 paise since yesterday while diesel in the capital city is retailing at Rs 93.17 per litre, an increase of 35 paise. Petrol and diesel rates have increased 9 times so far in October. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

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    09:05 (IST)11 Oct 2021
    Nifty nears 18,000, Sensex jumps 400 points in pre-open

    Nifty was approaching 18,000, up 101 points, while BSE Sensex jumped 400 points to trade at 60,571 in pre-open

    08:57 (IST)11 Oct 2021
    17900-17950 remains a sturdy wall for Nifty

    As far as levels are concerned, 17900 – 17950 remains to be a sturdy wall and on the flipside, 17600 has become a sacrosanct support now. The way we are following US markets of late; all eyes on them how they move going ahead. Also, as far as Bank Nifty is concerned, nobody knows what it is up to. Clearly directionless and is flirting around key support as well as resistance levels.Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One)

    08:55 (IST)11 Oct 2021
    Gold, silver price fluctuates over inflation worries; expect rates to move sideways to up this week

    Commodity prices traded firm with most of the commodities in non-agro segment traded higher during the week supported by softer dollar.  Crude oil prices rallied for the sixth week on the trot on lower supplies and higher demand on costly alternate fuels. Base metals traded higher following strong equity indices and return of Chinese markets despite of power shortages. 

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    08:54 (IST)11 Oct 2021
    17950 strong resistance for Nifty

    For Nifty, 17950 will act as strong resistance without breaking which we will not be able to see 18000 levels on the lower side 17800 will act as strong support on breaking which we might see 17725 to 17675 levels. For bank nifty 37500 will act as support on breaking which we'll see 37200 to 37000 levels, however on upper side 38100 will act as strong hurdle rate post which 38350 to 38500 levels are possible. Rahul Sharma, Co-Founder, Equity99

    08:39 (IST)11 Oct 2021
    Reliance, TCS, Aditya Birla Sun Life, Nazara Technologies, Zee Ent, Srei Infra Finance stocks in focus

    Nifty futures were trading cautious on Monday, indicating a tepid start for BSE Sensex and Nifty 50. Apart from second-quarter earnings by IT companies, macroeconomic data and global trends would be keenly tracked. Indian equity markets would remain closed on Friday, 15 October 2021, for Dussehra. Also, the movement of other major market drivers such as foreign institutional investors, Brent crude oil prices, and rupee would also be tracked for further direction.

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    08:35 (IST)11 Oct 2021
    Buy these 2 stocks for gains; Nifty nearing breakout, index may touch 18350-18500

    In the past, three to four occasions whenever the Nifty enters a correction phase, the 21-day exponential moving average has acted as an anchor point for the index. On the open interest front, good participation and open interest addition were seen in the 18000 Call and 17800-17700 Put contracts. Thus, we can expect the broader range of the index to 17700-18000 levels. And recently index has whipsawed its bearish engulfing candlestick pattern on the daily chart and has successfully closed above the high of the pattern. Whenever we saw a failure of a bearish pattern in the index he has witnessed a much stronger trend on the higher side.

    08:08 (IST)11 Oct 2021
    US stocks end in red on Friday

    In the overnight trade on Wall Street, the S&P 500 ended lower after data showed weaker jobs growth than expected in September. The Dow Jones Industrial Average dipped 0.03% to end at 34,746.25 points, while the S&P 500 lost 0.19% to 4,391.35. The Nasdaq Composite dropped 0.51% to 14,579.54.

    08:07 (IST)11 Oct 2021
    Asian stock markets jump

    Asian stock markets were trading in the green with Hong Kong markets leading the gains. Japan’s Nikkei rose 1.57% while the Topix index jumped 1.36%. Markets in South Korea are closed on Monday for a holiday.

    08:07 (IST)11 Oct 2021
    Investors richer by over Rs 4.16 lakh cr in two days of market rally

    Investors’ wealth rose by Rs 4,16,413.43 crore in two days, with the market capitalisation of BSE-listed companies reaching a lifetime high of Rs 266.36 lakh crore on Friday. The 30-share BSE benchmark Sensex on Friday jumped 381.23 points or 0.64 per cent to close at 60,059.06. On Thursday, it had rallied 488.1 points to 59,677.83.

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