Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended on a negative note on weekly F&O expiry amid volatility. The BSE Sensex was down 390.58 points or 0.68% at 57,235.33, and the NSE Nifty 50 was down 109.30 points or 0.64% at 17,014.30. Wipro, Adani Ports, SBI, SBI Life Insurance and L&T were among the top Nifty losers, while HCL Tech, Sun Pharma, Coal India, Britannia and Tata Motors were the top gainers. Except for metal and healthcare, all other sectoral indices ended in the red. In the broader markets, BSE Midcap index and Smallcap indices fell 0.5% each. The focus will now be on the US CPI data to be released later today.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 13 October 2022, Thursday
“Retail inflation persisting above the desired levels has been a major cause of concern for the Indian economy. This, coupled with declining industrial production in August may not be taken well by the market because Indian economy is anticipated to sustain its resilience. In this backdrop, the impending US inflation figures, which are forecasted to remain high, may cause volatility in the global market.”
~Vinod Nair, Head of Research at Geojit Financial Services
Indian benchmark indices ended lower on weekly F&O expiry. Sensex fell 390 pts to 57,235 while NSE Nifty 50 fell 100 pts to settle above 17000.
Indian benchmark indices were trading lower with Nifty hovering around 17000. The Sensex was down 328.12 points or 0.57% at 57297.79, and the Nifty was down 91 points or 0.53% at 17032.60.
“The Indian rupee traded an extremely narrow range for the second day ahead of U.S. consumer inflation data to gauge the next leg of direction. The pair dropped to a record low of 82.68 on Monday but recovered slightly after RBI intervention. The focus now shifts to the U.S inflation data due later in the day. The pair could trigger major gap-up or gap-down if there is a major change in U.S. data.” NS Ramaswamy, Head of Commodities, Ventura Securities
Ambuja Cement: CMP: Rs 505| Target: Rs 800|Closing SL: Rs 395| Upside: 58%
Axis Bank: CMP: Rs 805| Target: Rs 1150|Closing SL: Rs 618| Upside: 58% 43%
Bajaj Finance: CMP: Rs 7230| Target: Rs 10000|Closing SL: Rs 6200| Upside: 58% 38%
Deepak Nitrate: CMP: Rs 2225| Target: Rs 3020|Closing SL: Rs 1875| Upside: 58% 36%
HDFC Bank: CMP: Rs 1409| Target: Rs 1750|Closing SL: Rs 1270| Upside: 58% 24%
India Cements: CMP: Rs 244| Target: Rs 395|Closing SL: Rs 185| Upside: 58% 62%
Infosys: CMP: Rs 1424| Target: Rs 1950|Closing SL: Rs 1150| Upside: 58% 37%
ITC: CMP: Rs 330| Target: Rs 455|Closing SL: Rs 265| Upside: 58% 38%
KPIT Tech: CMP: Rs 645| Target: Rs 900|Closing SL: Rs 525| Upside: 58% 40%
L&T Ltd: CMP: Rs 2910| Target: Rs 3200|Closing SL: Rs 1900| Upside: 58% 35%
Reliance: CMP: Rs 2375| Target: Rs 3200|Closing SL: Rs 1900| Upside: 58% 35%
Tata Chemicals: CMP: Rs 1164| Target: Rs 1545|Closing SL: Rs 925| Upside: 58% 33%
Nifty and Sensex trimmed losses in last hour of trade. Both indices still held in red. “Odds are in favour of longs at current levels. However, events are always tricky as gap ups and gap downs wreak havoc on trades. Do not trade long options as IV's will melt after event and you may not profit in long options. Bravehearts can buy Nifty Futures 50% now and 50% more tomorrow post event in case there is a gap down. Stoploss placed at 16,640 on closing basis or absolute SL at 16,500; CMP 16,980. Conservative participants can wait for the event to be done,” said Rahul Sharma, Head – Research, JM Financial Services.
BSE Midcap index shed nearly 1 percent dragged by the Indian Hotels, GMR Infrastructure, L&T Finance Holdings
Wipro down nearly 7 per cent was the top loser among the BSE 500 stocks so far. India Cements, Indian Hotels, Brightcom Group and Escorts Kubota were the other major losers.
Life Insurance Corporation of India has offloaded 2 per cent stake in Power Grid Corporation of India via open market transactions. With this, LIC's shareholding in the company reduced to 3.3 per cent, down from 5.3 per cent earlier. Power Grid Corporation of India was quoting at Rs 213.95, down Rs 1.65, or 0.77 per cent.
Asian Markets were trading in red as Hong Kong's Hang Seng index, South Korea's Kospi fell around 2% each
Tanla Platforms up 7 per cent was the top gainer among the BSE 500 stocks so far on Thursday. It was followed by Tata Tele Maharashtra, Rites, Cochin Shipyard and Mazagon Dock, up 3-5 per cent each.
Markets were trading deep in red on weekly F&O expiry. Still more than 100 stocks touched 52-week high on the BSE
Sensex is down 409.99 points or 0.71 percent at 57,215.92. Nifty is down 118.50 points or 0.69 percent at 17,005.10.
Aditya Birla Money has posted 51 per cent jump in its net profit at Rs 9.7 crore versus Rs 6.4 crore in the year-ago period. Revenue was up 18.5 per cent on-year at Rs 68.2 crore compared to Rs 57.5 crore in the same quarter last year.
As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also rose 13 per cent to 17,35,199 units, as compared to 15,37,604 vehicles in September 2021. Motorcycle sales rose 18 per cent to 11,14,667 units, as against 9,48,161 units in September 2021.
Benchmark indices trimmed losses in afternoon trade. The Sensex was down 323.07 points or 0.56% at 57302.84, and the Nifty was down 96.70 points or 0.56% at 17026.90
Indian benchmark indices extended the losses and trading at day's low with Nifty below 17000. The Sensex was down 562.15 points or 0.98% at 57063.76, and the Nifty was down 162 points or 0.95% at 16961.60.
Sensex at day's low, down 450 points
Nifty slips below 17000
Adani Wilmar share price fell 4 per cent low single digit revenue growth guidance for Q2. The company, however, remains optimistic on their brand equity, and is hopeful of sequential improvement in demand trends with easing retail inflation and good monsoon.
Nifty Bank declines 1%, losses led by Bank of Baroda, HDFC Bank
Tata Power is going to develop Tata Motors' 7 MW solar project at its Pantnagar manufacturing facility in Uttarakhand. This installation is expected to generate 215 million units of electricity, potentially mitigating over 1.7 lakh tonnes of carbon emissions.
Wipro shares slipped 6 per cent, hitting a fresh 52-week low of Rs 383.25 on the BSE in Thursday's intra-day trade, after the company gave a revenue growth guidance of 0.2-2 per cent for October-December quarter (Q3FY23), much lower than Street's expectations, on the back of macro uncertainty and geopolitical issues. This is also less than the Q1 guidance of 3-5 per cent.
Axis Bank: Buying Range: Rs 780-815|Target price: Rs 970|Upside: 22%
City Union Bank: Buying Range: Rs 170-185|Target price: Rs 215|Upside: 17%
Apollo Tyres: Buying Range: Rs 260-275|Target price: Rs 335|Upside: 25%
Eicher Motors: Buying Range: Rs 3300-3480|Target price: Rs 4170|Upside: 23%
Coforge: Buying Range: Rs 3520-3680|Target price: Rs 4375|Upside: 22%
Lemon Tree Hotels: Buying Range: Rs 78-88|Target price: Rs 110|Upside: 29%
Healthcare Global Ent: Buying Range: Rs 285-305|Target price: Rs 345|Upside: 17%
Lauras Lab: Buying Range: Rs 485-510| Target price: Rs 675|Upside: 34%
Container Corp: Buying Range: Rs 685-715|Target price: Rs 890|Upside: 28%
Havells India: Buying Range: Rs 1220-1320| Target price: Rs 1650|Upside: 29%
HCL Technologies share price jumped 3 per cent after the company reported a 5.2 per cent sequential rise in consolidated revenue for the September quarter to Rs 24,686 crores. The consolidated net profit was up 6.3 per cent at Rs 3,489 crore. On an on-year basis, the net profit has risen by 7.1% and the revenue has increased by 19.5 per cent.
Wipro led losses as shares tanked around 5 per cent after the IT major reported that its consolidated net profit for the quarter ended September 30, 2022 fell 9.27 percent to Rs 2,659 crore from Rs 2,930 crore in the year-ago period. The Bengaluru-based company's revenue from operations stood at Rs 22,539.7 crore, a 14.60 percent growth over Rs 19,667.4 crore in the previous year. Sequentially, the revenue increased 4.69 percent from Rs 21,528.6 crore in the previous quarter. Profit was up 3.71 percent from Rs 2563.6 crore in the previous quarter.
Hindalco, HCL Tech, M&M, Tata Steel and Adani Ports were among major gainers on the Nifty, while Wipro, HDFC, TCS, HDFC Bank and ICICI Bank were the laggards.
Sensex drops 100 points on open, Nifty slips below 17100.
Benchmark indices are trading lower in the pre-opening session. The Sensex was down 106.44 points or 0.18% at 57519.47, and the Nifty was down 44.80 points or 0.26% at 17078.80.
Avenue Supermarts: CMP: Rs 4337| Target price: Rs 5148| Upside: 19%
Blue Dart Express: CMP: Rs 8986| Target price: Rs 11500 28%
City Union Bank: CMP: Rs 186| Target price: Rs 230| Upside: 18%
Jubilant FoodWorks: CMP: Rs 604| Target price: Rs 767| Upside: 27%
Kolte-Patil Developers: CMP: Rs 344| Target price: Rs 460| Upside: 34%
Mahindra CIE Automotive: CMP: Rs 304| Target price: Rs 381| Upside: 25%
TATA Power Co: CMP: Rs 218| Target price: Rs 260| Upside: 19%
The short-term trend of Nifty is range bound with positive bias. The market is now in an attempt to form a higher bottom formation around 16950 levels. A sustainable move above the hurdle of 17260 levels could confirm more upside for the near term. Immediate support is placed at 16950 levels.
The Indian rupee is expected to open flat and trade with negative bias amid elevated crude prices, risk aversion in equity markets. Support is at Rs 81.50, while resistance comes at 83, according to forex analysts. In the previous session, rupee fell 14 paise to close at 82.35 (provisional) against the US dollar amid the strengthening of the American currency and sustained foreign fund outflows. Besides, risk aversion sentiment among investors weighed on the local unit. According to a Reuters report, RBI, seeking to arrest the rupee’s slide, is asking local banks to not build additional positions in the non-deliverable forward market, a move that could lead to offshore volatility spilling into local markets.
Infosys, Mindtree, Angel One, Anand Rathi Wealth, Aditya Birla Money, Cyient, and Den Networks will be in focus ahead of quarterly earnings on October 13.
Wipro: Wipro Ltd on October 12 said its consolidated net profit for the quarter ended September 30, 2022 fell 9.27 per cent to Rs 2,659 crore from Rs 2,930 crore in the year-ago period.
HCL Technologies: HCL Technologies posted a 7 per cent on-year rise in consolidated net profit to Rs 3,489 crore for the September quarter.
IOC, BPCL, HPCL: The Union Cabinet has approved a one-time grant of Rs 22,000 crore to three oil marketing companies – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation (HPCL)
Foreign institutional investors (FIIs) net offloaded shares worth Rs 542.36 crore, whereas domestic institutional investors (DIIs) net bought equities worth Rs 85.32 crore on October 12, according to the the provisional data available on the NSE.
National Stock Exchange has added Delta Corp and Indiabulls Housing Finance stocks to its F&O ban list for October 13. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95 per cent of the market-wide position limit.
“Technically Nifty has formed a bullish candle in the daily chart, as it closed above 17100, an important Fibonacci level. The overall structure shows that the index is likely to witness consolidation and short term buying in the range of 17000-17300. Once it sustains 17340 levels we can expect a rally till 17500 levels in coming days. Indicators such as RSI and MACD are showing some strength to lead towards upside in the daily chart. On the other hand, Bank nifty has support at 38500 levels while resistance is placed at 40000.” ~Om Mehra, Technical associate, Choice Broking
“Nifty made a near double bottom on Oct 12 compared to the previous session. It now has a chance to recoup part of the losses seen in the previous 3 sessions. 17217-17287 could be the next resistance for the Nifty while 17064 could be the support.”~Deepak Jasani, Head of Retail Research, HDFC Securities
“Monthly support for Nifty50 is seen at 16580. We remain relatively stronger as compared to global markets. Medium-term setup also continues to remain positive for now. From the frontline sectors, we believe IT space looks attractive while Private banking is expected to consolidate.
· Monthly setup continues to remain positive
· Broader market sentiment remains positive while momentum is lacking
· FII and PRO have witnessed net short addition in the options segment
· For Nifty, maximum OI buildup seen at 17000 Put and 17100/17200 Call Option. For Bank-Nifty, maximum OI buildup is seen at 38500 put and 39000/39500 call options.
For the expiry day, expect nifty to trade in the range of 16700-17300.”
~Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities
“Bears took a breather today as markets witnessed a relief rally after getting hammered in the past few sessions. However, the recovery doesn't seem to be sustainable as multiple negative factors are at play. Technically, the Nifty took support near the 200-day SMA (Simple Moving Average) and bounced back sharply. As long as the index is trading above 17000 mark, the pullback formation is likely to continue. Above the same, the index may touch the level of 17225-17275. On the flip side, below 17000, the index could slip till 16900.”~Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd
“Markets rebounded on Wednesday after the recent slide and gained nearly a percent amid mixed cues. After the initial uptick, Nifty drifted lower in the early hours however recovery in select index majors across sectors gradually pushed the index higher as the session progressed. It finally settled around the day’s high to close at 17,123.6 levels. We feel it’s just a respite in a corrective phase and the tone would remain negative until Nifty decisively reclaims 17,400 levels. Amid all, the buoyancy in the banking space is capping the damage so far while others are seeing a mixed trend. We feel it’s prudent to stay light in the prevailing scenario and keep the existing positions hedged.”~Ajit Mishra, VP – Research, Religare Broking
“The short-term trend of Nifty is range bound with positive bias. The market is now making an attempt to form a short-term higher bottom formation around 16950 levels. A sustainable move above the hurdle of 17260 levels could confirm more upside for the near term. Immediate support is placed at 16950 levels.”~Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Shares in the Asia-Pacific were mostly lower on Thursday as investors await inflation data from the U.S. due later stateside. The Nikkei 225 in Japan was 0.48% lower and the Topix was down 0.62%. South Korea’s Kospi shed 0.84% and the Kosdaq lost 2.39%. The Hang Seng index in Hong Kong fell 0.52%, while mainland China’s Shanghai Composite slipped 0.57% and the Shenzhen Component shed 0.162%. In Australia, the S&P/ASX 200 bucked the regional trend and traded 0.35% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.15%. Thailand’s market is closed for a holiday Thursday.
US stocks ended a choppy session slightly lower on Wednesday after minutes from the last Federal Reserve meeting showed policymakers agreed they needed to maintain a more restrictive policy stance. The Dow Jones Industrial Average fell 28.34 points, or 0.1%, to 29,210.85, the S&P 500 lost 11.81 points, or 0.33%, to 3,577.03 and the Nasdaq Composite dropped 9.09 points, or 0.09%, to 10,417.10.
Nifty futures were trading 52 pts, or 0.3% lower at 17,053 on the Singapore Exchange, signaling that Dalal Street was headed for a negative start.