Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended 1.5 per cent down on Tuesday, as sell-off intensified. BSE Sensex tanked 844 points or 1.5 per cent to end at 57147, while NSE Nifty 50 plunged 1.5 per cent or 257 points to settle at 16984. Stocks of IndusInd Bank, Nestle India, Tata Steel, Infosys, HCL Tech, Reliance Industries Ltd (RIL), Maruti Suzuki, NTPC, TCS were among top index draggers. On the flip side, Axis Bank, and Asian Paints were the only gainers on the BSE Sensex.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 11 October, Tuesday
Mahindra & Mahindra (M&M) and Jio-bp, a fuels and mobility joint venture between Reliance Industries Limited (RIL) and bp are strengthening their existing partnership with Jio-bp setting up robust charging network for Mahindra’s upcoming e-SUVs launches. Last year, the companies had signed an MoU for exploring the creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels.
BSE Sensex tanked 844 points or 1.5 per cent to end at 57147, while NSE Nifty 50 plunged 1.5 per cent or 257 points to settle at 16984
India VIX, the volatility index, fell 4.06 per cent to trade at 20.42 levels
Reliance Industries Ltd (RIL), Infosys, ICICI Bank, HDFC Bank, and TCS were among top BSE Sensex draggers
BSE Sensex tanked 775 points or 1.34 per cent to trade at 57215, while NSE Nifty 50 plunged 1.37 per cent or 232 points to rule below 17000
As we enter into the last quarter of the current year, the Rupee sank to a new all-time low due to a poor economic outlook, global growth concerns, and a widening twin deficit amid soaring oil prices. With a stronger US NFP, data would cement the US Fed’s to follow its aggressive to bring down inflation as so far, the tightening hasn’t done much good to the economy, eventually creating turbulence in the DM and EM currencies. If the RBI sets the rupee free in line with peers, the currency can move towards 84.00 levels in the medium term. On the flip side, 81.20 and 80.50 shall act as strong support for the USDINR. Read full story
Gold has outperformed major asset classes in the last one year. Though internationally, gold prices are trading at 2 year low, domestically, gold is up 7-8% from the levels of Rs 48000/10 gm from last Diwali, due to USDINR depreciation. We are seeing good demand for gold buying in India with the start of the festive season this month. As rising inflation seems to have peaked out, we will see interest rates stabilising going forward in 2023, which will be a supportive environment for precious metals and gold will continue to give a historical return of at least 10% by next Diwali. Prithviraj Kothari, Managing Director of RiddhiSiddhi Bullions
Suzlon Energy has opened its rights issue to raise up to Rs. 1,200 crore, on October 11, 2022. The entitlement ratio for the rights issue is 5:21 (five shares for every twenty one equity shares held by eligible shareholders of the Company, as on the record date of October 4, 2022).
Emkay Wealth Management, the wealth management and advisory arm of Emkay Global Financial Services have released a note on gold, price outlook, and the reason hindering the rally in the precious metal prices despite the current setup. Historically gold has been considered a hedge against inflation, a safe haven during times of uncertainty. But this time the precious metal is trading against the script. Despite the fact that we are witnessing high inflation, and economic uncertainties around the globe, gold has been largely trading range-bound, the trading range has been $1630 and $1740 for the past 1 month. It is currently trading around $1690-1700/oz. It is widely expected that in the near future gold may remain in narrow ranges.
TCS share price rose half a per cent to Rs 3140 on NSE on Tuesday after the company declared its September quarter earnings with profitability surpassing the Rs 10,000-crore mark. Tata Consultancy Services’ Q2 results beat street expectations on most counts, with net profit growing over 8 per cent, revenue rising over 18 per cent, attrition peaking, margins coming in above estimates, strong demand, and a robust order book. Read full story
Infosys share price gained more than one per cent to Rs 1,479 apiece on BSE, after the IT bellwether announced to consider a proposal for a share buyback on Thursday, 13 October. In the last five trading days Infosys share price added 3.4 per cent. While the stock has fallen 4 per cent in one month, 17 per cent in six months, and 22.4 per cent so far this year. Read full story
Stocks of Asian Paints, Wipro, Infosys, HCL Tech, ITC, Bajaj Finance and TCS were among top BSE Sensex gainers
BSE Sensex fell 0.35 per cent or 200 points to 57,790, while NSE Nifty 50 was down 0.24 per cent or 42 points to trade at 17199
Indian benchmark indices BSE Sensex and NSE Nifty 50 are likely to open flat, hinted SGX Nifty. Nifty futures traded 0.07% higher at 17,239.5 on the Singapore Exchange, signaling that Dalal Street was headed for a muted start. “Markets are showing tremendous resilience amid the weak global environment however traders are facing tough times due to intermediate volatility. And, now with the beginning of the earnings season, we expect the choppiness to remain high. On the index front, Nifty can extend the rebound if it manages to reclaim 17,400 else consolidation will continue. Meanwhile, we feel participants should maintain their focus more on risk management and limit the leveraged positions,” said Ajit Mishra, VP – Research, Religare Broking.
“Currently Nifty is holding 200 DMA and would be acting as strong support for next few days. The overall structure shows that the index is likely to witness consolidation in the range of 17000-17500 in the coming sessions. A decisive upside breakout of the hurdle of 17520 is likely to gear up Nifty towards resistance of 17700-17750 levels. Indicators such as RSI and MACD are indicating neutral views as of now in the daily chart. Nifty IT and Banking sectors might muscle up to support the Index in coming days. On the other hand, Bank nifty has support at 38200 levels while resistance is placed at 39800. As we step towards the new earnings season, the prime focus of the market will turn towards quarterly numbers.”~Om Mehra, Technical Associate, Choice Broking.
“Markets ended weak in a volatile session amid weak global cues while the fall in US stock futures prompted investors to maintain a cautious stance. Investors now look ahead to the monthly US CPI report on Thursday amid fears that higher energy prices could fuel inflationary pressures. Also commanding attention will be the FOMC minutes to trickle in on October 12th. Technically speaking, the downside risk for Nifty is now seen limited at the support level of 17000 mark. We expect the Nifty bulls to aim at the 17500-17707 zone in the near term.” ~Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities.
“In spite of the not so favorable global environment, our markets managed to recover a fair bit of ground; courtesy to the recently laggard IT space, which has shown some sign of revival ahead of the quarterly result of IT giant, TCS. We continue to remain sanguine as long as the key support zone of 17000 – 16800 remains intact and meanwhile, the buy on declines approach remains the key. For the coming session, intraday supports are now visible at 17140 – 17050; whereas a move above 17300 would trigger a short covering move towards 17400 and beyond. Traders are advised to stay upbeat and it’s better to focus on thematic moves, which are likely to provide better trading opportunities. We, being the stronger market, are successfully managing to weather all storms and hence, once the global market supports, we may see the outperformance to continue.”~Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
“Going forward, markets are likely to witness swings as any escalation in geopolitical environment can lead to increase in volatility. Further inflation data and US Fed meeting minutes will be closely monitored. Domestically Q2 earning season will commence with almost 22% of Nifty weightage announcing their results during the week including IT heavy weights, HDFC Bank, Bajaj Auto, etc.”~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Shares in the Asia-Pacific were mixed on Tuesday, while Taiwan’s benchmark index dropped more than 3% on its return to trade as investors weighed the impact of new US rules on chipmaker TSMC. Japan and South Korea’s markets also resumed trading after a holiday on Monday. The Nikkei 225 fell around 2% and the Topix lost about 1.5%. In South Korea, the Kospi fell 2.16% and the Kosdaq shed 3.5%. Hong Kong’s Hang Seng index fell 0.91% and the Hang Seng Tech index dropped 1.11%. The Shanghai Composite and Shenzhen Component in mainland China were little changed. In Australia, the S&P/ASX 200 bucked the overall trend and was 0.27% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 1.41%.
On Wall Street, the Nasdaq Composite closed at its lowest since July 2020, down 1.04% at 10,542.10, dragged lower by a slump in semiconductor stocks. The S&P 500 also slipped 0.75% to 3,612.39, while the Dow Jones Industrial Average shed 93.91 points, or 0.32%, to close at 29,202.88.
Nifty futures were trading 11.5 points, or 0.07 per cent higher at 17,239.5 on the Singapore Exchange, signaling that NSE Nifty 50 and BSE Sensex are headed for a muted start.