Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls dominated Dalal Street as benchmark indices surged over 2 per cent amid positive global cues. A global rebound in market sentiment propelled domestic equities higher. The S&P BSE Sensex gained 1,277 points, or 2.25 per cent, to settle at 58,065, while Nifty 50 shut shop at 17,274, up 387 points or 2.29 per cent. The index neared 17,300-mark in intra-day deals. All the sectoral indices ended in the green with auto, bank, metal, IT, power and realty up 2-3 percent. The Indian rupee closed 39 paise higher at 81.48 per dollar on Tuesday against previous close of 81.87.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 4 October
Sectorally, all the indices ended in the positive zone led by the Nifty Private Bank and Metal indices (3.2 per cent each), Nifty Bank, PSU Bank, Financial Services, IT indices (2.8 per cent each), and Nifty FMCG index (1.8 per cent).
IndusInd Bank, Bajaj Finance, TCS, HDFC, Bajaj Finserv, Tata Steel, HDFC Bank, Wipro, L&T, Axis Bank, ITC, SBI, and Infosys were the top Sensex gainers, rising between 2.5 per cent and 5 per cent. On the downside, only PowerGrid, and Dr Reddy's Labs ended in the red.
Bulls drive Sensex over 1,200 points higher, Nifty settles above 17,250
BSE Power index gained 2 per cent, led by the NHPC, Adani Transmission, Torrent Power
Britannia Industries through its subsidiary Britannia and Associates (Dubai) has acquired control of Kenafric Biscuits, Kenya by subscribing to 51% stake in the said company, for Rs 9.2 crore. The subsidiary also acquired 100% stake in Catalyst Britania Brands for Rs 1.42 crore. Britannia Industries was quoting at Rs 3,819.40, up Rs 51.45, or 1.37 percent on the BSE.
Bulls took over Dalal Street as equities firmed up amid strong sentiments overseas. Frontline Nifty50 surged over 350 points to test 17,250 levels, and Sensex surged 1,200 points to trade at 58,000 levels. Nifty may cross 17500 level this week. Investors can book profits in longs today. ~Rahul Sharma, Head – Technical & Derivatives Research, JM Financial Services.
Nifty IT index gained 2.7 per cent, led by Coforge, L&T Infotech and TCS
SphitiCap today announced the launch of its maiden Venture Fund with a total corpus of $500 million, which the firm is in the midst of closing. The early stage fund is supporting investments in enterprises that align with the tenets of sustainability, growth, and impact.
Bajaj Steel appoints Vinod Kumar Bajaj as additional non-executive director. Shares jumped 1 per cent.
Sensex is up 1,215.94 points or 2.14 percent at 58,004.75. Nifty is up 371 points or 2.20 percent at 17258.30.
Easy Trip Planners, Bank of Maharashtra among volume shockers on BSE. Easy Trip Planners has witnessed unusually high volume of around 7.91 lakh shares on the BSE so far as against its five-day average volume of around 1.53 lakh shares. Similarly, Bank of Maharashtra, REC, Junilant Ingreva and Jubilant Pharmova also witnessed a significant spike in volume in trade intraday.
Reliance Industries' subsidiary RSBVL and US-based Sanmina Corporation have completed the deal to set up an electronics manufacturing joint venture at a total enterprise valuation of about Rs 3,300 crore.
Indian benchmark indices were trading at day's high with Nifty around 17250.
The Sensex was up 1,181.82 points or 2.08% at 57970.63, and the Nifty was up 357.60 points or 2.12% at 17244.90.
Shares of Radhakishan Damani-backed Avenue Supermarts, which runs the DMart chain of retail stores, rose nearly 4% after the company reported a standalone revenue from operations of Rs 10,385 crore in the September quarter. The revenue increased 35.8% as compared to the year-ago period. Citing September quarter data, brokerage firm Motilal Oswal gave a neutral call on the stock with a reduced target price of Rs 4,100, which is 8.6% lower from the current market price of Rs 4,485.60.
Blue Dart share price hit a new high intraday, The stock has rallied 14 per cent in a week on 10% price hike decision. Blue Dart Express, on September 28, had announced that the average shipment price increase will be 9.6 per cent as compared to 2022, depending on the shipping profile. The company said the customers signing up from October 1, 2022 to December 31, 2022 will not be impacted by the price increase.
Nifty Pharma index conquered 200-DMA. The Pharma index has outperformed the overall market in recent trading sessions. Sustenance above the 200-DMA is expected to trigger further gains for the index. Cipla, Granules shares can soar up to 15%.
The initial public offering (IPO) of Electronics Mart India, the fourth largest consumer durables and electronics retailers in India, was subscribed 45 per cent on the first day of the subscription. The offer garnered bids for 2.82 crore equity shares against an offer size of 6.25 crore equity shares. The offer size was reduced to 6.25 crore equity shares from around 8.47 crore after raising Rs 150 crore through anchor book on October 3. Retail investors were once again at the forefront, subscribing 81 per cent shares of the allotted quota. Non-institutional investors also started putting bids for the issue, buying 22 per cent of the portion set aside for them. Qualified institutional investors bought 3,556 shares against 1.78 crore shares reserved for them.
Nifty PSU Bank index rose 2 per cent, led by the Bank of Maharashtra, Punjab National Bank (PNB), Bank of Baroda
Shares of IndusInd Bank advanced nearly 5 per cent after the lender reported strong loan and deposit growth for the September quarter, lifting the investor sentiment.
The lender said its advances grew 18 percent year-on-year (YoY) and 5 percent quarter-on-quarter (QoQ), beating most peers. Advances stood at Rs 2,59,647 crore as of September as against Rs 2,20,808 crore a year back. Deposits with the bank rose 15 percent YoY from Rs 2,75,473 crore to Rs 3,15,824 crore as of September 2022. It was a 4 percent on-quarter rise, the bank said.
Benchmark indices were trading higher in noon deals with Nifty around 17200. The Sensex was up 1,135.56 points or 2% at 57924.37, and the Nifty was up 348.20 points or 2.06% at 17235.50.
“We expect that this move in both Bank Nifty and Nifty50 can sustain as long as the market believes that the global central banks, especially the US Fed, will now be inclined to reduce/stop liquidity tightening measures. We believe that investors should buy good quality companies available at reasonable valuations in this rally, to not get caught on the wrong side, if the market expectations of the US Fed pivot does not hold true.”~Nishit Master, Portfolio Manager, Axis Securities PMS
“The Indian markets are up almost 2% today following global cues since the US markets were up ~2.5% yesterday, and Dow futures today are indicating a positive 1% opening again. The movement in the global markets is in anticipation of a pivot by the US Fed towards slowing down or stopping liquidity tightening due to various financial risks now apparent. The business updates shared by banks and other financial intermediaries for Q2FY23 have been encouraging, and thus, the Financial sector is leading the rally in India, leading to upbeat estimates for the overall earnings season.”~Nishit Master, Portfolio Manager, Axis Securities PMS
The positive sentiment and reduced risk appetite among investors lifted shares of index heavyweights. Shares of Bajaj Finance, Bajaj Finserv, HDFC, HDFC Bank, Tata Consultancy Services, ITC, Reliance Industries surged in the range of 1 per cent to 3 per cent in intra-day trade.
The Indian rupee strengthened by 39 paise to 81.42 against the US dollar in early trade, on the back of strong global market cues, and weakness in the global greenback. The dollar index, which gauges the greenback against a basket of six currencies, slipped 0.1 per cent to 111.5. However, the 0.4 per cent rise in prices of Brent Crude ahead of the OPEC+ meet limited upward movement of the domestic currency.
A strong start to October series was seen as FIIs made a soft landing in the cash segment of Indian equity markets. FIIs bought shares worth Rs 590 crore on Monday, as against outflows of Rs 423 crore worth of equities by the domestic institutional investors (DIIs).
Firm global cues: After the sharp decline last week, the US markets rebounded in Monday's trade after 10-year, and 2-year treasury yields dropped to 3.6 per cent, and 4.1 per cent, respectively, on weaker-than-expected manufacturing data. All three major Wall Street indices – Dow Jones, NASDAQ Composite, and the S&P 500, closed over 2 per cent higher, to start the final quarter of the year on a positive note. Besides, US equity futures, too, held ground on Tuesday as Dow Jones Futures traded over 200 points higher to 0.8 per cent. The strong sentiments spilled across markets in Asia-Pacific, too, as Japan's Nikkei 225, Topix, and South Korea's Kosdaq climbed in the range of 2 per cent to 3 per cent in Tuesday's trade.
Vedanta said its alumina production at Lanjigarh refinery decreased by 11% YoY to 4.54 lakh tonnes due to scheduled maintenance, and at Zinc India, reported highest-ever second quarter mined metal production at 2.55 lakh tonnes, up 3 percent YoY, driven by better grades and improved mill recoveries. In the steel segment, its total saleable production increased by 11% YoY to 3.25 lakh tonnes on account of completion of debottlenecking activities in Q1FY23.
The initial public offering (IPO) of Electronics Mart India, the fourth largest consumer durables and electronics retailers in India, was subscribed 11 per cent within hours of opening on October 4. The offer garnered bids for 68.4 lakh equity shares against an offer size of 6.25 crore equity shares. Retail investors were at the forefront, subscribing 21 per cent shares of the allotted quota. Non-institutional investors also started putting bids for the issue, buying 3 per cent of the portion set aside for them.
“Benchmark index closed negative for eight out of last nine trading sessions ahead of the interest weak global clue, interest rate hike, Rupee depreciation and FII outflow. The broader market may remain volatile in the short term. For benchmark index Nifty, 17400 level may act as an immediate hurdle while on downside, 16700 will act as an important support zone, and breaching this may drag-down the indices towards 16000 in near term. It is recommended investors to continue with a disciplined approach, focus on asset allocation and look at equities from a medium to long term.”~Akhilesh Jat, Category Manager – Equity Research.
The Bank’s advances aggregated to approximately Rs 14,800 billion as of September 30, 2022, a growth of around 23.5% over Rs 11,988 billion as of September 30, 2021 and a growth of around 6.1% over Rs 13,951 billion as of June 30, 2022.
The Bank’s deposits aggregated to approximately Rs 16,735 billion as of September 30, 2022, a growth of around 19.0% over Rs 14,063 billion as of September 30, 2021 and a growth of around 4.3% over Rs 16,048 billion as of June 30, 2022.