Share Market Highlights: Sensex surges 1200 pts, Nifty ends above 17250; HDFC Bank leads gains | The Financial Express

Share Market Highlights: Sensex surges 1200 pts, Nifty ends above 17250; HDFC Bank leads gains

Share Market News Today | Sensex, Nifty, Share Prices Highlights: 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.

Share Market Highlights: Sensex surges 1200 pts, Nifty ends above 17250; HDFC Bank leads gains
Asian markets traded higher today morning after stocks on Wall Street rallied overnight (Pic PTI)

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.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 4 October

15:43 (IST) 4 Oct 2022
Bank, Financials, IT stocks lead gains

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). 

15:41 (IST) 4 Oct 2022
Top gainers, losers

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.

15:36 (IST) 4 Oct 2022
Nifty, Sensex end 2% higher

Bulls drive Sensex over 1,200 points higher, Nifty settles above 17,250

15:29 (IST) 4 Oct 2022
Power stocks gain

BSE Power index gained 2 per cent, led by the NHPC, Adani Transmission, Torrent Power

15:18 (IST) 4 Oct 2022
Britannia Industries arm acquires 51% stake in Kenafric Biscuits, stock up 1%

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.

15:17 (IST) 4 Oct 2022
Nifty may reclaim 17500 this week

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.

14:45 (IST) 4 Oct 2022
IT stocks support benchmark index rally

Nifty IT index gained 2.7 per cent, led by Coforge, L&T Infotech and TCS

14:44 (IST) 4 Oct 2022
SphitiCap launches maiden fund with a total corpus of $500 million

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. 

14:34 (IST) 4 Oct 2022
Bajaj Steel appoints Vinod Kumar Bajaj as additional non-executive director

Bajaj Steel appoints Vinod Kumar Bajaj as additional non-executive director. Shares jumped 1 per cent.

14:15 (IST) 4 Oct 2022
Indices hold sharp gains

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.

14:15 (IST) 4 Oct 2022
BSE Volume shockers

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.

14:03 (IST) 4 Oct 2022
Reliance shares rise 1%

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.

13:05 (IST) 4 Oct 2022
Indices at day’s high

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.

13:05 (IST) 4 Oct 2022
DMart shares jump 4%

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.

13:03 (IST) 4 Oct 2022
Blue Dart share hit new high; rally 14% in a week

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.

13:01 (IST) 4 Oct 2022
Pharma stocks gain

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%.

12:59 (IST) 4 Oct 2022
Electronics Mart India IPO update

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.

12:58 (IST) 4 Oct 2022
PSU Bank stocks rise

Nifty PSU Bank index rose 2 per cent, led by the Bank of Maharashtra, Punjab National Bank (PNB), Bank of Baroda

12:58 (IST) 4 Oct 2022
IndusInd Bank shares jump 5%

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.

12:13 (IST) 4 Oct 2022
Nifty, Sensex holding firmly in green

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.

12:11 (IST) 4 Oct 2022
Buy good quality company stocks available at reasonable valuations

“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

12:11 (IST) 4 Oct 2022
Firm global cues, positive business updates by banks cheer investors

“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

12:09 (IST) 4 Oct 2022
Index heavyweights gain

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.

12:08 (IST) 4 Oct 2022
Rupee bounceback aid market rally

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.

12:07 (IST) 4 Oct 2022
FII buying pull markets higher

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).

12:06 (IST) 4 Oct 2022
What’s fueling market rally?

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.

11:46 (IST) 4 Oct 2022
Vedanta shares jump 2%

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.

11:18 (IST) 4 Oct 2022
Electronics Mart India IPO subscription update

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.

10:54 (IST) 4 Oct 2022
Broader market may remain volatile in short term

“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.

10:51 (IST) 4 Oct 2022
HDFC shares gain 2% after Q2 business update

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. 

10:35 (IST) 4 Oct 2022
Easy Trip shares jump 2.5%

Easy Trip shares rose 2.5 per cent as the company is going to consider bonus shares, stock split this month. A meeting of the Board of Directors of the company is scheduled to be held on October 10, 2022, for considering the proposal for increase in Authorised Share Capital, issue of Bonus Shares and/or SubDivision/Split of Share.

10:33 (IST) 4 Oct 2022
Liberty Shoes hits multi-year high on strong outlook; stock rallies 104% in 1-month

In the past one month, the stock price of the footwear company more-than-doubled or zoomed 104 per cent, compared to 1.7 per cent decline in the S&P BSE Sensex. The stock traded close to its record high of Rs 351 apiece, which it had hit on July 22, 2014.

10:33 (IST) 4 Oct 2022
Axis Securities Top stock picks

ICICI Bank, Tech Mahindra, Maruti Suzuki India, State Bank of India, Dalmia Bharat, Federal Bank, Varun Beverages, Ashok Leyland, Astral Ltd (India), Bata India, APL Apollo Tubes, HealthCare Global Enterprises, Praj Industries, CCL Products (India), Coal India and Bajaj finance

10:32 (IST) 4 Oct 2022
Market long-term outlook positive; ‘Buy on dips’

“While the medium to long-term outlook for the overall market remains positive, we could see volatility in the short run with the market responding in either direction. In this context, the current setup is a ‘Buy on Dips’ market. We recommend investors maintain good liquidity (10%) to use such dips in a phased manner to build a position in quality companies (where the earnings visibility is very high) and with an investment horizon of 12-18 months.”~Axis Securities

10:31 (IST) 4 Oct 2022
Nifty to hit 18400 by FY23 end

“We continue to maintain a positive long-term outlook on the market, supported by the favourable structure emerging with increasing Capex enabling banks to improve credit growth. Moreover, the overall expenditure boost in the Union Budget 2022-23 will help deliver broad based growth in FY23. We foresee FY23/24 NIFTY EPS at 820/929 and maintain our NIFTY Mar’23 target of 18,400 unchanged as we value it at 20X FY24 earnings vs. 22X earlier. Though aggressive policy tightening will help in curbing inflationary pressure, persistently elevated Oil and Commodity prices would continue to pose challenges to the market multiple in the next few quarters. The current level of India VIX is below the long-term average, indicating that the market is in a neutral zone.” Axis Securities

10:10 (IST) 4 Oct 2022
M&M Finance soars 10%

Mahindra & Mahindra Finance shares soared 10% as asset quality improved in September quarter

10:09 (IST) 4 Oct 2022
Nifty, Sensex at day’s high

Benchmark indices were trading at day's high level with Nifty above 17200. The Sensex was up 1,236.32 points or 2.18% at 58025.13, and the Nifty was up 358.40 points or 2.12% at 17245.70.

09:58 (IST) 4 Oct 2022
IT stocks rally

Nifty Information Technology (IT) index rose 2 per cent, led by the L&T Technology Services, Coforge, TCS

09:56 (IST) 4 Oct 2022
Marico bucks market trend, slips 1.5%

Marico share price slipped 1.5% as India business posted low-single digit volume growth. Marico's India business posted low single-digit volume growth with the 3-year CAGR in high single digits and international business maintained its strong run, delivering double-digit constant currency growth. With this, its consolidated revenue in September FY23 quarter grew in low single digits on a year-on-year basis. Net profit will be further impacted by higher effective tax rate.

09:50 (IST) 4 Oct 2022
DMart share price jump 1.7%

The D-Mart operator, Avenue Supermarts, share price jumped after the company announced standalone revenue for the quarter ended September 2022 at Rs 10,384.66 crore, up significantly by 36% from Rs 7,649.64 crore in the same period last year. The total number of stores as of September 2022 stood at 302.

09:49 (IST) 4 Oct 2022
Metal stocks gain

BSE Metal index added 2 per cent, led by Hindalco Industries, Vedanta, JSW Steel

09:41 (IST) 4 Oct 2022
Bank Nifty surges 1000 pts

Nifty Bank index rose over 2 per cent supported by the IDFC First Bank, IndusInd Bank, Bank of Baroda, Bandhan Bank

09:39 (IST) 4 Oct 2022
Top NSE gainers

Mahindra & Mahindra Financial Services: Rs 197, up 9%

IDFC Firdt Bank: Rs 52, up 6.1%

Delta Corp: Rs 212, up 5.7%

L&T Finance Holdings: Rs 76, up 5.04%

IndusInd Bank: Rs 1208, up 4.51%

09:36 (IST) 4 Oct 2022
Nifty may test 17300

Benchmark index Nifty 50 surges over 300 points to trade at 17230. The index may test 17,300, said Rahul Sharma, Head – Technical & Derivatives Research, JM Financial Services.

09:33 (IST) 4 Oct 2022
Mahindra & Mahindra Financial Services shares surge 9%

Mahindra & Mahindra Financial Services shares surged 9% after the company reported Q2 numbers. The Q2FY23 disbursements were ahead of estimates as disbursements & collections remained strong in September, which were aided by macro tailwinds as per management. The collection efficiency in September rose on a monthly basis, with gross stage-3 at 7% versus 8% in Q1. However, AUM & asset quality were better than street estimates.

09:31 (IST) 4 Oct 2022
For near-term, market sentiments have turned positive

“In the last eight out of ten years Sensex has given positive returns in October. Also, markets have a record of troughing out in October. This may happen this October too. The ‘risk-off, risk-on’ texture of the market is in response to fast changing economic and market signals. For the near-term the market sentiments have turned positive with declining trend in dollar and US bond yields. If this trend continues FIIs will again turn big buyers in India and they will not get stocks cheap. Financials and autos are again set to lead the uptrend since their fundamentals and prospects are strong. Capital goods are likely to join the rally and telecom is on strong wicket.”V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

09:30 (IST) 4 Oct 2022
Banking stock gain

Broad-based gains seen across pockets; Public Sector Bank (PSB) index rises 3 per cent.

09:28 (IST) 4 Oct 2022
Top gainers

All the sectoral indices are trading in the green. Hindalco Industries, IndusInd Bank, Adani Enterprises, Adani Ports and L&T were among major gainers on the Nifty index.

09:24 (IST) 4 Oct 2022
Bank Nifty up 2.5%

“The Bank Nifty has relatively outperformed and ended only 2% lower for September vs. Nifty loss of 3.8%. Axis Bank and Kotak Bank were the worst performers in the second half of September whereas others fell in line with the index. PSU banks’ OI remained lower. In the recent past, we saw cash based selling indicating follow up selling could be seen in the coming few days. The open interest in the Bank Nifty continued to remain lower at the start of the new series and few private banks started the new series near there sizeable Call bases. We expect more of a stock specific actions in the banking space where IndusInd and other midcap private banks should attract buying interest whereas closures in Call writing positions in other leaders should help the index to surpass its Call base.”ICICIDirect

09:20 (IST) 4 Oct 2022
Nifty nears 17200 resistance

Nifty jumps 280 points in opening trade to 17,160. The index is nearing resistance level of 17200,