Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bears gripped Dalal Street on the first day of the week as benchmark indices ended in red amid weak global cues. The S&P BSE Sensex settled at 56,789, down 638 points or 1.11 per cent. The NSE Nifty 50, too, closed 207 points, or 1.21 per cent, lower at 16,887. Adani Enterprises was the biggest Nifty dragger as it dropped 9 per cent. This was followed by selling in Eicher Motors, Maruti Suzuki, Adani Ports, Hindalco, Tata Consumer Products, HUL, Kotak Bank, ITC, HDFC Life, Britannia, SBI, and Tata Motors. On the upside, ONGC, Cipla, Coal India, Dr Reddy’s Labs, BPCL, Divis Labs, and Bharti Airtel helped trim losses.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights 3 October, Monday
Adani Enterprises, Eicher Motors, Adani Ports, Maruti Suzuki and Tata Consumer Products were among the top Nifty losers. However, gainers included ONGC, Dr Reddy's Laboratories, Cipla, BPCL and Coal India. Except pharma, all other sectoral indices ended in the red. In broader markets, BSE Midcap index shed 1.2 per cent and Smallcap index fell 0.54 per cent.
Indian equity benchmarks got off to a rocky start on Monday. The BSE Sensex index plunged 638.11 points to end at 56,788.81, and the broader NSE Nifty crashed 207 points to 16,887.35, after data showed India's factory activity fell to a three-month low. The market mood was fragile on Monday as crude prices jumped over 4 per cent on a potential cut in production by oil producers, exacerbating fears that aggressive interest rates hiked by central banks around the world to tame elevated inflation would increase the likelihood of a worldwide recession.
Indian rupee closed 53 paise lower at 81.87 per dollar against the previous close of 81.34.
Benchmark indices extended the losses and trading at day's low with Nifty below 16900.
European stocks fall on Monday as markets enter the last quarter of the year; Stoxx 600 index dropped 1% in early trade
Shares of FSN E-Commerce, the parent company of Nykaa, rallied 11% to the day’s high price of Rs 1,414 on Monday after the company announced a 5:1 bonus share issue. The company has fixed November 3, 2022, as the record date for determining investors’ eligibility for the bonus share issue.
Benchmark indices slipped deep in the red in afternoon deals. While Sensex fell 500 points, Nifty 50 slipped below 17000. Bank Nifty fell over 400 pts as banking stocks witnessed sell-off.
BSE Power index shed 1 per cent, dragged by the Adani Green, Siemens, Adani Transmission
Benchmark indices were trading lower with Nifty hovering around 17000.
The Sensex was down 239.12 points or 0.42% at 57187.80, and the Nifty was down 61.50 points or 0.36% at 17032.80.
Gold prices rose on Monday as a softer dollar rekindled some of bullion's appeal for overseas buyers, although the prospects of sharp interest rate hikes by the U.S. Federal Reserve and other major central banks capped further gains. Spot gold was up 0.5% at $1,667.89 per ounce, as of 0603 GMT. U.S. gold futures were 0.2% higher at $1,675.30. The dollar index was down 0.4% against a basket of currencies, making greenback-priced bullion less expensive for overseas buyers. Benchmark U.S. 10-year Treasury yields were also lower after rising for two days.
Nifty Bank index declined 1 per cent, dragged by the AU Small Finance Bank, Kotak Mahindra Bank, IndusInd Bank
Morgan Stanley has kept overweight rating on Cyient with a target at Rs 700 per share. See potential part divestment of the DLM business as incrementally positive, said Morgan Stanley. The divestment will provide flexibility to scale up DLM business & may unlock shareholder value, however, divestment is still at a very early stage. Cyient was quoting at Rs 788.35, down Rs 3.85, or 0.49 per cent on the BSE.
Mayur Toshniwal has resigned as a director of Future Supply Chain Solutions with effect from September 30, 2022. With his resignation, Mayur has also ceased to be Managing Director of the company. Future Supply Chain Solutions was quoting at Rs 27, up Rs 0.55, or 2.08 per cent.
Paytm share price rose 3 per cent on Monday after foreign brokerage firm JP Morgan reiterated a positive stance on the stock last week. Analysts maintained a price target of Rs 1,000 on the scrip, suggesting an over 50 per cent potential rally going forward. The brokerage firm believes that Paytm is undergoing a model shift from chasing ‘growth at any loss’ to ‘profitability at scale’ now. “Moderation in indirect expenses Q2 onwards should hence be a catalyst,” it said. Paytm shares have tanked over 50 per cent so far this year, but have risen 7 per cent in the last 6 months. Paytm share price jumped over 3 per cent to hit an intraday high of Rs 660 on NSE. JPMorgan’s target price on the counter suggests a 51 per cent potential upside over Monday’s intraday high level.
Paytm share price rose 3 per cent on Monday after foreign brokerage firm JP Morgan reiterated positive stance on the stock last week. Analysts maintained price target of Rs 1,000 on the scrip, suggesting a 55 per cent rally going forward.
IKIO Lighting has filed its draft red herring prospectus with the capital markets regulator Securities and Exchange Board of India to raise funds via initial public offering (IPO). The public issue consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) up to 7,500,000 equity shares by Promoter and selling shareholders, which comprises of up to 6,000,000 by promoter Hardeep Singh, up to 1,500,000 by Surmeet Kaur (selling shareholders).
Nykaa board approved bonus issue in 5:1 ratio. “Fixation of Thursday, November 03, 2022, as the record date for the purpose of determining members eligible for bonus equity shares,” company said in a BSE filing. Nykaa share price rallies 11%
India’s manufacturing activity in September expanded for the fifteenth month in a row, but slowed down the acceleration from the previous month. The S&P Global India Manufacturing Purchasing Managers’ Index (PMI) posted at 55.1 for September, down marginally from August’s 56.2. Amid global headwinds, policy shocks, and recession fears, the manufacturing sector remains in good health. The expansion in the industry is attributed to new business growth, expanded operating capacities, and demand resilience. Leading indicators suggest that “output looks set to expand further at least in the short-term as firms seek to fulfil sales contracts and replenish stocks”, Pollyanna De Lima, Economics Associate Director, S&P Global Market Intelligence, said in the PMI note. Read full story
Electronics Mart India Ltd’s (EMIL) Rs 500 crore-IPO will open for public subscription on Tuesday (4 October) and will conclude on 7 October. The price band for the issue has been fixed at Rs 56-59 per share. The consumer durables retail chain’s IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale (OFS) component. The company intends to utilise the net proceeds from the initial share sale to fund its capital expenditure, and support incremental working capital requirements. The proceeds will also go towards paying debt, and for general corporate purposes. Read full story
Looking at the global uncertainty and tighter liquidity, the rupee is expected to trade left in the medium term while in the shorter term it could consolidate in the range. Spot USDINR is having a line on sand at 82 and crossing of it will pave way for 83 and more while on the lower side. Read full story
India September Manufacturing PMI at 55.1 versus 56.2
Traders can initiate a Moderately Bullish strategy with reduced premium outflow & lower breakeven point called BULL CALL SPREAD of 6 October expiry wherein trader can buy one lot of 17,100 call strike @ 144 and simultaneously sell one lot of 17,350 call strike @ 47, so that net outflow or maximum loss will be restricted to up to Rs 4,850. If Nifty closes above 17,197 on expiry day then the strategy will start making profits. The maximum gains will be restricted up to Rs 7,650; because the gains of long 17,100 strike call will be offset by the sold 17,350 strike call if Nifty closes above 17,350 on expiry. Read full story
In September 2022, Adani Ports and Special Economic Zone recorded 13% on-year growth in cargo volumes to reach 26.1 MMT. In the initial six months of FY23, the company managed 177.5 MMT of cargo, which is a good 11% increase over the corresponding period last year. During H1FY23, east coast volumes are up 13% YoY, supported by Krishnapatnam (+13%), Gangavaram (+9%) and Kattupalli & Ennore combined (+51%). The west coast volume jump of 10% is supported by Mundra (8%), Dahej (65%), Tuna (19%), and Goa (22%). Adani Ports and Special Economic Zone was quoting at Rs 824.60, up Rs 3.55, or 0.43 percent on the BSE.
Nifty Bank fell 0.5 per cent or 203.45 points to 38,428.50
Titan Company, Nestle India, Infosys, IndusInd Bank, Maruti Suzuki of India, Asian Paints, TCS among top BSE Sensex losers
Stocks of NTPC, Reliance Industries Ltd (RIL), Sun Pharma, UltraTech Cement, Power Grid Corporation of India, Reliance, Axis Bank, Hindustan Unilever Ltd, Wipro were among top BSE Sensex index
BSE Sensex fell 0.4 per cent or 200 points to 57227, while NSE Nifty was down 42 points or 0.24 per cent to 17015
US markets can be expected to bottom out anytime soon. Look to accumulate on dips with stoploss placed at 16,640 on closing basis & Target of 17,500.
Position Sizing Guide: Large
Support: 17,030 & 16,840
Resistance: 17,291 & 17,500 | Rahul Sharma, JM Financial Services
Even though there are global challenges for equity markets, India's outperformance is likely to continue. A significant trend in the market now is the dominance of DIIs and retail investors over FIIs. Last Friday when FIIs sold equity worth Rs 1545 crores in the cash market DIIs bought equity for Rs 3245 crores. If this kind of dominance of DIIs and retail investors can be sustained, FIIs will have to slow down their selling even in the context of rising dollar and bond yields in the US. Re-entry for FIIs will be expensive since DIIs and retail will not easily sell back the stocks which FIIs have sold. Auto numbers for September confirm the strong auto rebound trend. There is more room for CV, PV and select 2-wheeler stocks to move up.
The fears regarding the Credit Suisse crisis are unlikely to impact the markets since it doesn’t have the potential to become a systemic crisis. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
BSE Sensex was down 119 points or 0.2 per cent to trade at 57316, while NSE Nifty 50 was down 26 points to 17068
After a sharp rebound on Friday, equity markets could once again come under a bear hammering in early Monday trades, tracking weakness across the Asian markets. SGX Nifty is indicating a gap-down start for local equities in the backdrop of a brutal selling witnessed at Wall Street in Friday’s trade where the S&P 500 ended at a new closing low for the year and the Dow Jones index dived deep into bear market territory. There is lack of evidence from the Fed’s action that they are winning their battle against inflation. For now, the market seems to be assuming that more hawkishness is on the menu. Technically speaking, Nifty’s drop to 16300-16483 support appears to be on the table. Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been kept steady on 3 October 2022 (Monday), keeping costs steady for more than three months now. The petrol rate and diesel rates in Delhi are Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. The last country-wide change in price came on 21 May 2022, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Read full story
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, were on Friday hiked by a steep 40 percent to record levels, in step with global firming up of energy rates.
The rate paid for gas produced from old fields, which make up for about two-thirds of all gas produced in the country, was hiked to USD 8.57 per million British thermal units from the current USD 6.1, according to an order from the oil ministry's Petroleum Planning and Analysis Cell (PPAC).
Indian benchmark indices are expected to start the week and month in the red amid weak global cues. Wall Street tumbled on Friday and Asian markets too opened with losses on Monday. SGX Nifty was in red, hinting at a negative start for the Indian share market. In the previous session, BSE Sensex and NSE Nifty had snapped out of the red streak to end with gains. The Nifty trend and outlook is now neutral to positive in daily, weekly, and monthly charts, implying a balanced risk-reward, according to market analysts. “The momentum has strengthened further, indicating a high probability of a trend or outlook change in this week. The preferred strategy for this week remains ‘sell the rise’,” they said.
HFCL Limited announced the launch of 5G Lab-as-a-Service to accelerate rollout of 5G solutions and services. In the previous trading session, HFCL shares closed at Rs 72.80, up Rs 0.45, or 0.62 per cent.
The central government's fiscal deficit stood at Rs 5.42 lakh crore in April-August, accounting for 32.6 per cent of the full-year target, data released by the Controller General of Accounts showed. The fiscal deficit for April-August 2021 had accounted for 31.1 per cent of the FY22 target. The fiscal deficit in the first five months of FY22 was Rs 4.68 lakh crore. As such, the fiscal deficit in April-August of the current financial year is 15.7 per cent higher on a year-on-year basis. The Centre is targeting a fiscal deficit of Rs 16.61 lakh crore for FY23, or 6.4 per cent of GDP.
Tata Consultancy Services (TCS) will be considering a second interim dividend for the financial year FY23 in a board meeting scheduled on October 10. Also, TCS will announce its financial results for Q2 and six monthly periods of FY23. The company has also announced a record date to determine eligible shareholders for the dividend benefits. In Q2, seasonal strength and digital services growth are likely to lift TCS revenue sequentially. Revival in EBIT margin is also expected due to the absorption of wage revision.
Oil surged to near $82 a barrel on indications the OPEC+ alliance is considering cutting production by more than 1 million barrels a day to revive plunging prices when it meets this week. A reduction of that magnitude would be the biggest since the pandemic, although OPEC+ delegates said a final decision on the size of the cuts won’t be made until ministers gather in Vienna on Wednesday. West Texas Intermediate futures jumped around 3%, on track for the first gain in three sessions.
Shares in the Asia-Pacific mostly fell on Monday as markets enter the last quarter of the year. Hong Kong’s Hang Seng index was 0.8% lower in early trade. In Australia, the S&P/ASX 200 gave up early gains to fall 0.4%. Japan's Nikkei 225 fell more than 1% in early trade, but recovered slightly and was last up 0.18%, while the Topix index was fractionally lower. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.32%. China markets are closed for the Golden Week holiday, and South Korea’s market is also closed. Later in the week, Australia’s central bank will announce its interest rate decision, while several countries in Asia will report inflation data.
Stocks fell in choppy trading Friday as Wall Street closed out a terrible week, month, and quarter that brought the S&P 500 to a new 2022 low. This was the first time Wall Street has posted three consecutive quarters of losses since the aftermath of the global financial crisis more than a decade ago. The Dow Jones Industrial Average closed below 29,000 for the first time since November 2020. The index fell 500.10 points, or 1.71%, to 28,725.51. The Nasdaq Composite was 1.51% lower, ending the day at 10,575.62. Meanwhile, the S&P 500 was down 1.51% on Friday, falling to 3,585.62. The index closed out its worst month since March 2020. For September, the Dow tumbled 8.8%, while the S&P 500 fell 9.3%. The Nasdaq lost 10.5%.