Market HIGHLIGHTS: Sensex gives up 39,000, but ends in green, Nifty holds 11,500; TCS shares end 7.5% up

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Updated: October 5, 2020 4:28:35 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic stock market indices BSE Sensex and Nifty 50 ended over half a per cent higher in Monday's session.

Share Market Today, Share Market LiveThe trend among Nifty sectoral indices was positive, led by Nifty IT index, up 3.47 per cent

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended the first day of the week on the positive note. BSE Sensex closed up 276 points or 0.71 per cent at 38,974, while the broader Nifty 50 index finished above 11,500, gaining 87 points or 0.76 per cent. TCS was the top Sensex gainer, up 7.3 per cent, followed by Tata Steel, Sun Pharma, Infosys, Tech Mahindra and IndusInd Bank. On the flip side, Bajaj Finserv, Bajaj Finance and Bajaj-Auto were the top Sensex laggards. Bharti Airtel, ITC, Power Grid Corporation of India, RIL were among other losers on the pack. The trend among Nifty sectoral indices was positive, led by Nifty IT index, up 3.47 per cent. Top index gainers were TCS, Wipro, Infosys, Tech Mahindra, HCL Tech and Mindtree. Meanwhile, the volatility index, India VIX, shot up 7.67 per cent.

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Highlights

    16:01 (IST)05 Oct 2020
    TCS shares close 7% higher, hit record high, cross Rs 10 lakh crore M-cap; should you buy or not?

    Tata Consultancy Services (TCS), on Monday, became the only second listed Indian firm to reach the Rs 10 lakh crore market capitalization. TCS shares were shooting higher, up over 7% to end the day’s trade at a price of Rs 2,706 per share after the company announced that its board will consider an equity share buyback proposal later this week. With today’s upward move TCS shares have now surged 65% from their March lows. Analysts believe that TCS is a long-term bet and hope that the drive towards more digitization of things will continue to prove beneficial for the Information Technology (IT) major in the post coronavirus world.

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    15:43 (IST)05 Oct 2020
    the biggest driver for rupee movement will be the foreign inflows in Reliance

    Indian rupee gave away early morning gains and closed with the loss of 15 paise to 73.29 a dollar. The dollar buying by the banks and foreign fund outflows in September weighed on rupee. Going ahead the biggest driver for rupee movement will be the foreign inflows in Reliance subsidies and how the central bank manages that flow. Spot USDINR is having resistance at 74.10, the 200 days Simple moving average and support at 72.75, low of September 01 and recent bottom: Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

    15:40 (IST)05 Oct 2020
    Indian share market ends higher

    Markets opened firmly in the green with TCS buoyed by the buyback news leading the charge ahead of its earnings and well supported by the IT sector today. Selective Stocks in Pharma & Textiles witnessed buying interest from Smart Investors even as Indices gave up some gains in late afternoon trade today: S Ranganathan, Head of Research at LKP Securities

    15:37 (IST)05 Oct 2020
    Sensex, Nifty end over half a per cent higher on Monday

    Sensex ended 276 points or 0.71 per cent up at 38,974, while Nifty50 closed above 11,500, gaining 87 points or 0.76 per cent.

    15:35 (IST)05 Oct 2020
    Expect Nifty50 to achieve 11800

    The index became a little cautious at the day high and did not go back to claim that figure of 11575-11580. However, the trend remains positive. We can expect to achieve the levels of 11600 and then 11800. We are in the bullish territory until 11300 holds. Hence, a buy on dips strategy can be considered: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:07 (IST)05 Oct 2020
    Brokerage view on Hero MotoCorp

    With an improvement in demand and improving macro-economic data especially from rural areas, we believe auto 2-wheeler industry is set to bounce back faster and HEROMOTOCO being a market leader in its segment should also benefit in the medium term. We reiterate our BUY rating on the stock with a revised target price of ₹3,653: Anand Rathi Financial Services

    14:35 (IST)05 Oct 2020
    Mazagon Dock may repeat Happiest Minds IPO gains; what grey market premiums tell about Mazagon, UTI listings

    Amid Indian share market volatility, UTI AMC has slipped into the negative territory in the grey market in the last few days. UTI AMC was quoting a premium of Rs 140 initially last week, according to an independent dealer in unlisted shares; but this week, the premium fell to Rs 70. Today, it is trading with a Rs 16 discount in the grey market. On the other hand, state-owned defence firm Mazagon Dock Shipbuilders is trading with a Rs 105 premium in the grey market.

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    14:23 (IST)05 Oct 2020
    Rupee settles lower on Monday

    Indian rupee closed lower at 73.29 per US dollar in Monday's trade. The rupee had ended at 73.15 per dollar in the previous session.

    14:20 (IST)05 Oct 2020
    How ‘Code on Social Security 2020’ affects employees, employers; new code brings stringent penalties too

    The Code of Social Security, 2020 (CSS) which replaces 9 central laws dealing with social benefits for employees (including provident fund (EPF), insurance (ESIC), maternity, payment of gratuity etc.) received the President’s assent last Monday. The Ministry of Labour and Employment plans to publish the rules and implement all the codes by the end of 2020.

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    14:16 (IST)05 Oct 2020
    TCS market capitalization crosses Rs 10 lakh cr mark

    Information Technology major TCS has now become the second Indian company to have a market capitalization of over Rs 10 lakh crore. Shares were up 7.93% trading at Rs 2,744 per share. 

    14:03 (IST)05 Oct 2020
    Motilal Oswal Financial Services announces two new appointments in their housing finance company

    Motilal Oswal Financial Services Limited today announced that its board of directors have appointed Arvind Hali as the new Managing Director & Chief Executive Officer and Amar Bahl as the Deputy Managing Director & COO of its housing finance company Motilal Oswal Home Finance Limited (MOHFL).

    13:46 (IST)05 Oct 2020
    Overhang of SC intervention may be behind us – A positive for banking stocks

    We will continue to prefer HDFC Bank (best placed on growth as well as an overhang of management change will be behind us), ICICI Bank & Indusind Bank (valuation pick along with better-operating income growth), SBI (management change overhang will be behind us), DCB Bank (almost all clients will get benefits of Govt relaxation), IDFC First Bank (positive earning movement due to restructuring of the balance sheet), and Equitas (growth is returning back and all clients will get benefits of Govt relaxation): Asutosh Mishra, Head of Research, Ashika Institutional Equities

    13:34 (IST)05 Oct 2020
    Sensex, below 39,000 while Nifty 50 gives up 11,500

    Stock markets have scaled back down from their highs but were still trading with gains on Monday. "Today heavyweights like TCS (up 5.61%) announced that the company will consider a buyback on 7th October. We expect Indices to trade range bound and some volatile on back of global market clues. Global Market update - DOW Jones down by 134 points (down 0.48%) and NASDAQ down by 251 points (down 2.22%).” said Yash Gupta - Equity Research Associate, Angel Broking Ltd. 

    13:28 (IST)05 Oct 2020
    Investors can now invest in top India, US healthcare cos with new Edelweiss, MSCI thematic index fund

    Global index provider Morgan Stanley Capital Investment (MSCI) and domestic asset manager Edelweiss have partnered to launch Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund. The passive thematic index fund will provide an investment opportunity to invest in Indian healthcare companies and US healthcare firms. 70% of the fund’s weightage is on Indian Healthcare, comprising top 25 stocks based on full market capitalization, while the remaining 30% weightage will be on top 20 stocks listed in the United States comprising top 5 stocks each from Pharmaceuticals, Healthcare Equipment, Biotechnology and Life Sciences Tools and Services sectors.

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    13:11 (IST)05 Oct 2020
    Nifty to trade between 11,200 - 11,500

    The Nifty is expected to trade between 11200 and 11500 amid high volatility. Sell Nifty 11350 Put (October 8 expiry) in the range of Rs 48-50 Target: Rs 34-23 Stop loss : Rs 64

    13:07 (IST)05 Oct 2020
    Maintain buy rating on RIL with target of Rs 2,543

    Over the last few days, Reliance Industries Ltd. has announced a slew of investments by private equity players in Reliance Retail ventures Ltd. Mubadala, GIC and TPG have announced investments of Rs. 6,247.5cr., Rs. 5,512.5cr. and Rs. 1,837.5cr respectively since the beginning of October. With this RIL has now announced cumulative investments of Rs. 32,198 cr. in Reliance Retail so far for a 7.28% stake in the company so far. This is in line with our expectations and we expect the company will continue to announce more such deals in the near future. We maintain our positive view on Reliance industries Ltd. and expect that the digital and the retail business will be the future growth drivers for the company. We continue to maintain our buy rating on reliance Industries with a target of ₹ 2,543: Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

    12:51 (IST)05 Oct 2020
    Asian shares rise on optimism about Trump’s recovery

    Shares rose Monday in Asia as investors were encouraged by positive reports about President Donald Trump’s health after he tested positive for the coronavirus. Trump briefly ventured out in a motorcade on Sunday to salute cheering supporters. Trump’s medical team reported that his blood oxygen level had dropped twice in recent days, and that they gave him a steroid typically only recommended for the very sick. They also said his health is improving and that he could be discharged as soon as Monday.

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    12:29 (IST)05 Oct 2020
    UTI AMC, Mazagon Dock Shipbuilders IPOs: Here’s how to check share allotment status online

    UTI Asset Management Company and Mazagon Dock Shipbuilders’ initial public offerings (IPOs) received good responses from investors. The Rs 2,160-crore UTI AMC IPO received 2.31 times subscription, while the Rs 444-crore Mazagon Dock Shipbuilders subscribed 157.41 times. Mazagon Dock has become the most subscribed public issue this year after Chemcon Speciality Chemicals saw 149 times applications and Happiest Minds Technologies 151 times.

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    12:09 (IST)05 Oct 2020
    Google heeds startups’ backlash; extends enforcing Play Store’s billing policy for apps by 18 months

    Amid raging concerns from the startup ecosystem over Google’s alleged unfair Play Store billing policy to charge 30 per cent in-app commission and enforcing use of its Google Play billing system, the search giant has stepped back for a while. Google, which had set September 30, 2021, last week as the deadline for developers to comply with its existing billing policy, on Monday announced extension till March 31, 2022. The announcement comes days after around 100 leading startup founders in India had informally come together to lobby against the alleged monopolistic move by Google.

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    11:37 (IST)05 Oct 2020
    How this money manager traded markets during March sell-off and what he plans for coming month | INTERVIEW

    Just a month before the pandemic started wreaking havoc across India, Aniruddha Sarkar took on a new assignment as the Chief Investment Officer & Portfolio Manager at Quest Investment Advisors. Since taking up his new role, Aniruddha saw the stock market climb to all-time highs then drop to new lows and then bounce right back up. In an interview with Kshitij Bharagava of Financial Express Online, the CIO of Quest shares his investment strategy to dodge the global sell-off, take full advantage of a bull run and sheds light on what could be the next big trigger for stock markets. Here are the edited excerpts.

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    11:26 (IST)05 Oct 2020
    11,300 to act as support for Nifty

    "Nifty Open Interest Put Call ratio rose sharply to 1.57 levels from 1.34 levels. Amongst the Nifty options (08-October), Put writing was seen 11200-11300 levels, Indicating 11300 level to act as a strong support going forward. On the higher side, immediate resistance is seen around 11500 level where calls have been written," said HDFC Securities 

    11:05 (IST)05 Oct 2020
    Share market breaks 2007 record; India Inc raises more money so far this year than full year 2007

    India Inc has managed to raise $32.7 billion in the first nine months of 2020 in the domestic stock markets, shattering the 2007 annual record of raising $31.2 billion from equity markets, data from Refinitiv showed. The fundraising was led by Mukesh Ambani’s Reliance Industries Ltd’s massive rights issue of $7 billion. However, it should be noted that investors of the issue have not paid the entire amount, but instead the payments will be made in a staggered manner. The massive $32.7 billion raised so far this year is 87.7% higher than the year-ago period.

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    10:50 (IST)05 Oct 2020
    Gold remains choppy due to a volatile US dollar

    Gold remains choppy due to a volatile US dollar and hopes of fresh economic stimulus measures. Optimism over Covid vaccine, uncertainties over US presidential election in November and rising US-China tensions are also influencing the sentiments of yellow metal.Technical Outlook (London spot): If prices hold the support of $1840 we can expect a rebound, but it needs to break $1920 to continue the momentum. An unexpected drop below $1820 would extend further selling pressure: Hareesh V, Geojit’s Head of Commodity

    10:48 (IST)05 Oct 2020
    Likhitha Infrastructure IPO issue date extends

    Likhitha Infrastructure IPO issue date has been extended and it will now close on October 7. According to an update in NSE, price band has also been revised from 117/- to Rs. 120/- To Rs. 116/- to Rs. 120/- per share. There is a reduction of Rs. 1 on the lower price band. Till now, the issue has been subscribed by 8.43 times. Retail portion received an overwhelming response by getting subscribed by 21.13 times. NII also is subscribed by 8.43 times. Although QIB is not fully subscribed, it is subscribed by j0.45 times. Considering the small issue size, investors can miss this IPO: Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

    10:39 (IST)05 Oct 2020
    TCS, Infosys, Wipro shares hit new 52-week high today; BSE IT index rallies 90% since March

    IT stocks were in focus today as TCS, Wipro, Infosys and Mindtree shares hit fresh 52-week highs on Monday. BSE Information Technology index rose 3.32 per cent to climb up to a new record high. During the second quarter of FY21, BSE IT index surged 31.7 per cent, significantly outperforming BSE Sensex, which managed to gain 9.2 per cent.

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    10:07 (IST)05 Oct 2020
    Angel Broking shares list at 10% discount from IPO price; recoups some losses after initial trade

    Angel Broking’s shares witnessed a lacklustre listing on Monday as the stocks were listed at Rs 275 per share and moved 3% higher to trade at Rs 284 apiece, minutes after opening. The listing was at a discount of 10% from the upper band of the initial public offering (IPO) price band at Rs 306 per share. After the recent rush of public issues in the primary market, the listing gains for the stocks have been diminishing. Last week Computer Age Management Services shares were listed on BSE at just a 23% premium and slid lower during the day’s trade despite a strong broader market performance.Read full story

    10:01 (IST)05 Oct 2020
    Gold has taken interim support around $1847 level

    It was quite a decent pullback of prices last week after metals sold off in the previous week. However, gold closed the week just below $1900, which may encourage bears to push prices lower again. Managed long positions on COMEX are still substantially higher than managed shorts in both gold and silver, and ETF holdings are still strong. On the technical side, gold has taken interim support around $1847 level. Therefore, we believe consolidation may happen this week. The momentum will return only after $1923. Retail traders must avoid trading in silver as volatility can wipe out the positions on either side quickly: Debajit Saha, Senior Analyst, Precious Metals at Refinitiv

    09:51 (IST)05 Oct 2020
    Markets in bullish territory, Nifty may head to 11800

    On Thursday, we went past 11350 and even closed above it - this was an important juncture for the markets. It now signals that we are in bullish territory and should be headed to higher levels of 11600 and then 11800. The support for the Nifty is at 11300. Until that does not break, we can accumulate on every dip: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:44 (IST)05 Oct 2020
    Today’s sessions will be important to note market participants' behaviour

    For rupee, corporate inflows have remained supportive and RBI’s lack of buying interest as seen in the last session could further trigger the selling positions. This can tilt the pair on the stronger side of the range 72.50-74.50 levels. If the pair breaks 73.00 mark, panic selling can gather pace which can take the pair to 72.50-72.70 levels. On the other side, if RBI intervenes and importers began buying considering sharp appreciation, the pair can bounce back close to 73.40-73.50 levels. Today’s sessions will be important to note the behaviour of market participants. Overall, every uptick between 73.50-74.00 levels shall be taken as selling opportunity: Amit Pabari, managing director, CR Forex Advisors

    09:37 (IST)05 Oct 2020
    TCS, Infosys, Wipro share prices at fresh 52-week highs

    Barring Nifty Pharma index, all the sectoral indices were trading in the positive territory. Nifty IT index was top gainer, up 2.45 per cent, led by TCS, Wipro and Infosys.

    09:35 (IST)05 Oct 2020
    TCS share price surges 4.5% on opening; board to consider equity share buyback proposal later this week

    Information Technology major Tata Consultancy Services (TCS) announced that it will consider an equity share buyback proposal later this week on October 7 when the Board of the company meets ahead of the quarterly results. “This is to inform you that the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on October 7, 2020,” TCS said in regulatory filing on Monday morning. Shares of the IT giant have surged over 54% from its March lows. TCS shares opened 4.54% higher at Rs 2,637 per share.

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    09:32 (IST)05 Oct 2020
    Asian Paints, Bharti Airtel top Sensex laggards

    On the contrary, Asian Paints shares fell the most, down 0.41 per cent. The paint major was followed by Nestle Idia, Ultratech Cement, Hindustan Unilever, M&M, Bajaj-Auto and Bharti Airtel.

    09:30 (IST)05 Oct 2020
    IndusInd Bank share price surges over 5%

    IndusInd Bank was the top Sensex gainer, up 5.34 per cent, followed by Tata Steel, TCS, ICICI Bank, Axis Bank, Infosys, HCL Tech and SBI among others.

    09:28 (IST)05 Oct 2020
    RIL shares gain half a per cent in opening deals

    Reliance Industries Ltd share price gained over half a per cent to trade ta Rs 2249 after the company announced to receive fresh investments from Mubadala, GIC and TPG for its retail business.

    Check prices: Reliance Industries

    09:26 (IST)05 Oct 2020
    TCS share price jumps over 4% on buyback proposal

    TCS share price jumped 4.32 per cent to trade at Rs 2,631 apiece on BSE after the IT giant in Monday early morning announced that its board of directors will consider a proposal for buyback of equity shares, at its meeting to be held on October 7, 2020.

    Check prices: TCS

    09:23 (IST)05 Oct 2020
    Sensex reclaims 39,000, Nifty tops 11,500

    Following positive global cues, BSE Sensex jumped 390 points to reclaim 39,000. While Nifty 50 index jumped 117 points to trade at 11,534.

    Check live Sensex, Nifty levels

    09:08 (IST)05 Oct 2020
    Sensex jumps over 200 pts in pre-open

    BSE Sensex jumps 220 points or 0.57 per cent to trade at 38,917 in pre-opening session on Monday. NSE's Nifty 50 was up 170 points to rule at 11,416.

    09:03 (IST)05 Oct 2020
    Indian markets likely to see a gap up opening

    Indian markets are likely to see a gap up opening on the back of positive global cues despite the surge in Coronavirus cases and worries about the economic outlook. However, global news flows and sector specific developments will be key monitorables: ICICI Securities

    09:02 (IST)05 Oct 2020
    Stocks in focus: RIL, CAMS, Angel Broking, Tata Steel, TCS, bank stocks, among others to remain in news

    Domestic equity market benchmarks BSE Sensex and Nifty 50 gained over 3 per cent last week. Markets are likely to extend gains in the Tuesday’s session with the SGX Nifty up 92 points during the early hours of trade. A host of factors such as US President Donald Trump’s health bulletins, Supreme Court’s verdict on the interest waiver case, Angel Broking shares listing, stock-specific action, oil prices, rupee movement and other global cues, will set the market direction today.

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    08:44 (IST)05 Oct 2020
    Gold outlook for Monday

    Domestic bullion could start flat to higher this Monday morning, tracking the international prices. Technically, MCX Gold December might see some gap down opening tracking overseas as MCX markets were closed on Friday. Above 50700 could see an upside move up to 50970-51050 levels. Downside 50400-50150 will hold a support. MCX Silver December could trade on a negative note below 60700 up to 59900-58800 levels. However above 61000 could take prices up to 62600 levels in coming sessions: Sriram Iyer, Senior Research Analyst at Reliance securities

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