Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity markets ended in green on a flat note on high volatility as weak global cues amid escalating crisis in Ukraine weighed on investor sentiment. BSE Sensex ended at 59,307, up 104 points or 0.18 per cent, while the broader NSE Nifty50 closed at 17,576, up 12 points or 0.07 per cent. The gains in benchmark indices were led by Axis Bank, HUL, ICICI Bank, Kotak Bank, SBI Life, and Apollo Hospitals. On the flipside, Bajaj Finserv, Bajaj Finance, Divis Labs, Adan Ports, UPL, Asian Paints, and L&T capped gains. In the broader markets, the BSE MidCap and SmallCap indices dipped 0.75 per cent and 0.6 per cent, respectively.
Sectorally, Nifty PSU Bank and Private Bank indices gained the most, up 1.8 per cent and 1.6 per cent, respectively, while the Nifty Pharma index fell 0.8 per cent. Overall, the benchmark BSE Sensex and the Nifty50 dipped 0.5 per cent in Samvat 2078, while the BSE MidCap index fell about 4 per cent. The BSE SmallCap index, meanwhile, added 0.4 per cent. As we enter Samvat 2079, analysts expect markets to remain under pressure and witness more volatility in the near-term. However, both indices are expected to scale news highs. Nifty is projected to touch 20,000 while Sensex may climb above 65000.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates October 21, Friday
Indian rupee closed marginally higher at 82.68 per dollar against the previous close of 82.75.
Benchmark indices ended on positive note in the volatile session Nifty Bank index gained nearly 2 percent, while capital goods, pharma, power, metal index down 0.5-1 percent. BSE midcap and smallcap indices shed 0.5 percent each.
In Q2FY23, consolidated revenues grew by 13% on-year at Rs 1,098 crore. Profit after tax for the quarter was Rs 509 crore, up 11% on-year (excl. PE profit share). Capital market business PAT grew by 9% on-year to Rs 132 crore. Asset & Wealth businesses PAT stood at Rs 67 crore, up 2% on-year.
Benchmark indices erased all the intraday gains and traded flat amid volatility. The Sensex was up 0.55 points at 59203.45, and the Nifty was down 18.50 points or 0.11% at 17545.50.
- Investors should add some surpluses into interest-bearing instruments in addition to risk assets
- Have a more diversified portfolio
- India to be among the top 3 economies of the world
- Exciting times ahead, but be braced for volatility
-Uday Kotak
Karur Vysya Bank has reported 51 per cent jump in its Q2 net profit at Rs 250.2 crore versus Rs 165.4 crore and net interest income up 20.7% at Rs 821.5 crore versus Rs 680.4 crore on-year. Karur Vysya Bank was quoting at Rs 92.55, up Rs 0.40, or 0.43 per cent on the BSE.
The Sensex is up 360.75 points or 0.61% at 59563.65, and the Nifty up 89.30 points or 0.51% at 17653.30.
CSB Bank has posted net profit of Rs 120.5 crore in the quarter ended September 2022 against Rs 118.6 crore and net interest income (NII) up 16.7% at Rs 325 crore versus Rs 278.4 crore on-year. CSB Bank was quoting at Rs 247.55, down Rs 2.70, or 1.08% on the BSE.
Bharat Dynamics gained 3% after it entered into several MoUs during Defexpo
Oil refining to retail and telecom conglomerate Reliance Industries Ltd is expected to report double-digit growth in consolidated net profit and revenue for the quarter ended 30 September. The company is likely to report a 12-14% percent on-year increase in consolidated net profit to Rs 15,263 crore in the September quarter, according to the average of estimates by six securities firms. Profit will be driven by strong consolidated revenue, which is expected to rise 34 per cent on-year to Rs 2.25 lakh crore in the quarter. Reliance Industries was quoting at Rs 2,509.10, up Rs 8.20, or 0.33 per cent on the BSE.
Nifty Bank index rose over 600 pts or 1 per cent, supported by the Axis Bank, Federal Bank, Bank of Baroda
The rupee depreciated 12 paise to 82.91 against the US dollar in morning trade on Friday tracking a firm American currency in the overseas market.
Beer maker United Breweries Ltd has reported a 66.94 per cent growth in its consolidated net profit at Rs 134.12 crore in the second quarter ended September 30, mainly on the back of volume growth.
Nifty PSU Bank index rose 2.7 percent, led by the Indian Bank, Punjab and Sind Bank, UCO Bank. In the past one week, Nifty PSU Bank index has rallied 12 per cent as compared to 3 per cent rise in Nifty50.
Sensex is up 270.77 points or 0.46% at 59473.67, and the Nifty added 69.50 points or 0.40% at 17633.50.
ITC shares hit a new high on solid Q2 performance. Analysts see up to 16% upside going forward as they believe that ITC would continue to grow in its core business of Cigarettes and FMCG with stable taxation & softening of raw material prices.
Nifty Information Technology index fell 0.5 percent, dragged by the Mphasis, Tech Mahindra, Persistent Systems
Shares of Axis Bank surged over 6 per cent after the lender posted 70% on-year rise in standalone net profit to Rs 5,329.7 crore in Q2FY23.
"IT and banks account for the major chunk of India Inc’s profits. After good Q2 results from IT, leading banks are posting very good Q2 numbers indicating that corporate earnings are in line with optimistic expectations. Q2 results of Axis Bank and ITC have beaten expectations. The PSU bank index has the potential to sustain its outperformance."
–V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Samvat 2079 will go down in India’s stock market history as the year of India’s outperformance relative to developed markets and peers. The big question as we usher in Samvat 2079 is whether this outperformance will continue. Even though India’s valuations are high from the short term perspective, economic and earnings fundamentals partly justify the valuation premium. More importantly, the DII/retail support to the market is becoming strong enough to eclipse the FII selling. This explains the logic of FIIs turning buyers (Rs 1864crores yesterday) when US bond yields are moving up and the 10-year yield is at 4.23 percent."
-V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Axis Bank, M&M, Titan Company, SBI Life Insurance and HDFC Life were among major gainers on the Nifty, while Bajaj Finance, TCS, Tech Mahindra, Power Grid Corp and Divis Labs were the laggards.
The Sensex was up 236.51 points or 0.40% at 59,439.41, and the Nifty was up 59.50 points or 0.34% at 17,623.50.
Benchmark indices opened higher despite mixed global cues. BSE Sensex jumped 200 pts, while NSE Nifty 50 reclaimed 17600.
Nifty Futures – Resistances 17600-17700; Supports 17430-17325
Banknifty Futures – Resistances 40650-41000; Supports 39900-39600
-Globe Capital
"Yesterday, no significant activity was seen in Nifty & Banknifty futures on price front whereas on open interest front both Nifty and Banknifty futures added around 10% & 5% of open interest respectively. On sectoral front, long buildup was seen among Telecom, Textile and Chemical stocks whereas some short buildup was seen among Banking stocks. On options front, Nifty will start the last weekly expiry of Oct series with maximum positions at 18000 CE and 17000 PE."
-Globe Capital
"Bank Nifty slipped lower but found support from its line of parity at 39,800-40,000 zone. From here on, till 39,600-39,400 near 50 DMA’s; multiple supports are visible on the daily chart of index. With this support, bank nifty can revisit the levels of 40,600 and 41,000 levels where it could face resistance in the coming days."
-Yes Securities
"Going ahead, the trend on Nifty may remain positive as long as the index holds above 17300 levels on a sustained basis. On the higher end, 17,800 may act as next resistance; a decisive move above 17,800 may induce a rally towards the recent high of 18000."
-Yes Securities
Benchmark indices are trading firm in the pre-opening session. Sensex was up 99.12 points or 0.17% at 59302.02, and the Nifty was up 31.20 points or 0.18% at 17595.20.
Indian rupee opened marginally lower at 82.81 per dollar on Friday against the previous close of 82.75.
“Domestic equities may wobble in early trades Friday, tracking sideways movement in SGX Nifty after US markets ended lower in the overnight trades. However, market sentiment could get a leg up after FIIs turned net buyers of local shares in yesterday's trade. Besides, rupee strengthening below the 83 mark, better-than-expected Q2 earnings so far, and oil prices staying sluggish at $85 a barrel would help market extend gains ahead of Diwali festival. Technically, Nifty bulls will aim to recapture the psychological 18000 mark with an interweek perspective. However, the US treasury yields, which is at a 15-year high, will remain a major deterrent as it has been indicating recession spread across key global economies.”
-Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd