Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended nearly half a per cent down on Monday. BSE Sensex was down 200 points or 0.34 per cent to 57,991, while NSE Nifty 50 settled 74 points or 0.43 per cent down at 17,253. Stocks of Axis Bank, TCS, Maruti Suzuki, Tech Mahindra, Wipro, Infosys, HCL Tech, and M&M were among top index gainers. On the flip side, Asian Paints, Titan Company, ITC, Reliance Industries (RIL), Housing Development Finance Corporation (HDFC), Nestle India, among others dragged the index the most. Bank Nifty index fell 0.2 per cent to settle at 39,093. India VIX, the volatility index jumped 4.3 per cent to finish as 19.62 levels.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates
BSE Sensex was down 200 points or 0.34 per cent to 57,991, while NSE Nifty 50 settled 74 points or 0.43 per cent down at 17,253
India has emerged as a shining star in CY22 with healthy outperformance amid
varied global headwinds on macros, inflation, rates, currency and geopolitics.
While most global equity markets are down 20-25% in YTD’CY22, India is flat and
steady (in local currency). Motilal Oswal Financial Services
The Electronics Mart India IPO concluded on Friday after receiving a solid 71.93 times subscription. The basis of allotment for the IPO may take place on 12 October (Wednesday), the initiation of refunds is likely on Thursday, and the credit of shares to demat accounts is likely by Friday, according to the red herring documents. Electronics Mart India shares are likely to debut on stock exchanges on 17 October. Read full story
ICRA Ratings carries a Stable outlook for the non-banking financial companies-microfinance institutions (NBFC-MFIs), driven by the expected healthy growth in the assets under management (AUM) and the improvement in profitability. NBFC-MFIs reported a healthy rebound in the growth in their AUM in H2 FY2022 after having witnessed subdued growth in H1 FY2022. The industry saw accelerated disbursements in H2 FY2022, given the buoyant demand, healthy systemic liquidity, and the steady increase in economic activity. The disbursements are expected to remain healthy in the current year and as outlined in a recently released report, ICRA expects NBFC-MFIs and micro finance focused small finance banks (SFBs) to witness growth of 22-25% in their AUM in FY2023.
Tracxn Technologies Ltd (TTL) IPO opened for subscription on Monday (10 October). The offer will open for subscription till 12 October (Wednesday). The price band for the offer has been fixed at Rs 75–80 per equity share of face value Re 1 each. The market intelligence data provider backed by the co-founders of Flipkart intends to garner around Rs 310 crore through an offer for sale (OFS) of 38,672,208 equity shares by the shareholders and promoters. Of the total offer size, 75% of the net offer will be reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 10% for retail investors. Read full story
Currency traders are playing cat and mouse with officials abroad as foreign-reserve depletion and intervention come to the forefront. The dip-buying in the greenback against the rupee remained a popular trade last week anticipating RBI would limit intervention in order to preserve foreign-reserve balances. Read full story
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate and silver rate in India were trading weak on Monday as the yellow metal fell in the international markets. On Multi Commodity Exchange, gold December futures were ruling Rs 542 or 1.04 per cent down at Rs 51,418 per 10 gram, as against the previous close of Rs 51,960. So far this financial year, MCX gold has fallen more than 1 per cent. Silver December futures were ruling Rs 1451 or 2.4 per cent down at Rs 59,334 per kg on MCX. Read full story
Domestic consumption is amazingly strong and taking a position in correct sectors at correct valuations will ensure that investors create wealth for themselves. Remember, the best companies are best bought in tough times. Autos, banks, domestic formulation companies and discretionary consumption are sectors that should do well. IT at this point can be a good contra bet if you have a 2-year holding view. Read full story
The Indian rupee continued to depreciate against the US dollar on Monday after the solid US jobs report cemented bets of more large Federal Reserve rate hikes. The local unit fell to a record low of 82.66, down from 82.33 from the previous session. Rupee has been sliding against the greenback to hit new record lows in recent sessions on concerns over elevated oil prices, rising Treasury yields, FII outflows and offshore demand for the US currency. The Reserve Bank of India's interventions have also not been able to arrest the slide in the rupee, unlike in prior occasions.
Tata Consultancy Services (TCS) is expected to report single-digit rise in net profit in 6.7-7.9 per cent range on-year for the July-September quarter, aided by a 15-23 per cent on-year jump in net sales. The company’s revenue growth in constant currency (CC) terms is expected to be in 3-3.5 per cent range, according to analysts. The IT bellwether will announce its Q2FY23 quarter results later on Monday. Growth will be led by strong spending on digital competencies by clients and the translation of total contract value (TCV) into revenues, analysts said. Read full story
Going ahead, we expect the index to consolidate in the broader range of 17500-16700 amid stock specific action. The Nifty has rallied 680 points over past five sessions that hauled short term oscillators in overbought territory, indicating a couple of days breather ahead of US inflation data cannot be ruled out. However, such a breather should not be construed as negative instead any dip from hereon should be used as buying opportunity amid onset of earning season, to ride the next leg of up move towards 17500. Read full story
Globally, the third-quarter earnings season kicks off with quarterly reports in the US – big banks Morgan Stanley, Wells Fargo & Co, JPMorgan Chase & Co, and Citigroup Inc on Friday. This week will be eventful as we will have a lot of macro data and quarterly results which will decide the fate of the market. Nifty has formed a Bullish candle on a weekly scale and negated its lower highs – lower lows of the last two weeks. Now, it has to hold above 17300 zones for an up move towards 17442 and 17500 zones whereas supports can be seen at 17167 and 17071 zones. Read full story
The chart pattern suggests that if Bank Nifty crosses and sustains above 39500 level it would witness buying which would lead the index towards 39800-40200 levels. However if index breaks below 39000 level it would witness selling which would take the index towards 38800-38500. For the week, we expect Bank Nifty to trade in the range of 40200-38500 with mixed bias. The weekly strength indicator RSI is at the verge of crossover above its reference line indicating trend may change to positive. Read full story
Paytm has reported an all-round growth across its lending, merchant payments, and consumer payments segments in the July-September quarter. Paytm disbursed 92 lakh loans during July-September 2022, more than triple of that in the same quarter a year ago. The value of loans grew nearly six-fold to Rs 7,313 crore, Paytm said in a statement of performance update for Q2FY23. Read full story
Nifty’s upside attempts on Friday fell painfully short of making any meaningful advance, a testimony to the level of distribution that was in play after Nifty had stormed into the 17400-500 territory. While this region was long discussed as an end in itself, at least for the near term, the breadth of upsides across stocks as well as indices had raised the hopes that the Nifty could continue marching ahead, while also encouraging talks of a new peak as Diwali approaches. Read full story
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel remained unchanged on 10 October 2022 (Monday), keeping costs steady for nearly four months now. The petrol rate and diesel rate in Delhi are at Rs 96.72 and Rs 89.62 per litre, respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. Read full story
A frail attempt by gold to breach and sustain above $1720 was put to an end by a better than expected non-farm payroll data, which again renewed the prospect of aggresive rate hike and expectation of q hawkish policy, going forward. However, the geopolitical tension still persists, and correction in the dollar index may find buying interest at the lower levels. Strong support in Spot Comex Gold is seen around $1670 level. As long as the mentioned level is intact, we expect prices to trade sideways in a range between $1670 and $1720 level. Deveya Gaglani, Research Analyst, Axis Securities
Stocks of index heavyweights such as PowerGrid Corporation of India, Tata Consultancy Services (TCS), Dr Reddy's Laboratories, Maruti Suzuki India, and Titan Company among others were top BSE Sensex losers
All the 30 BSE Sensex stocks were trading in red.
BSE Sensex fell 730 points or 1.25 per cent to 57,461, while NSE Nifty 50 tanked 237 points ir 1.4 per cent to hover around 17094
“17008 in Nifty and 38235 in Bank Nifty remain crucial levels to defend today. While the weekly setup remains bullish for both indices, intra-week volatility is expected to remain high due to US inflation data and the geopolitical scenario. Caution if VIX sustains above 22%. India VIX is suggesting no fear of the event however it is best to manage risk. We are in a classic 'buy on dip' setup with breakout placed above 17,500 & supports placed at 17,200 & 17,000. “~Rahul Sharma, Head – Research, JM Financial Services
Indian share market is expected to open in the red on Monday as early trends in SGX Nifty hinted at a negative opening for domestic equity benchmarks with a loss of 268 points. In the previous session, the Sensex declined 31 points to 58,191 while NSE Nifty 50 slipped 17 points to 17,315. According to analysts, while global investors will be keenly monitoring inflation figures in the US and China, Indian CPI print will be a key domestic factor to monitor. Further, IT companies will kick start the quarterly result season. Stock-specific swings will be evident. “We expect Nifty bulls to aim for 17500-17707 zone in the near term,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities.
~Rahul Sharma, Head – Research, JM Financial Services
“On the benchmark front, the 16,800-17,100 zone would act as a cushion in Nifty while a rebound towards the 17,580-17,900 zone may attract profit-taking again. Since all the sectors are witnessing traction on a rotational basis, the focus should be on the top-performing counters from the respective sectors and accumulate them on dips,”~Ajit Mishra, VP – Research, Religare Broking.
“This week, participants will be eyeing important macroeconomic data viz. IIP, CPI and WPI for cues. Besides, the week also marks the beginning of the earnings season with IT majors like TCS, Infosys, HCL Tech and Wipro announcing their numbers along with two other heavyweights i.e. Bajaj Auto and HDFC Bank during the week. Amid all, the performance of US markets, FIIs trend, and movement in currency and crude will also remain on their radar. The recovery in the global indices, especially the US, has triggered the recent rebound but the lack of sustainability in the move is causing excessive volatility. However, we feel domestic factors like earnings and macroeconomic data may take the front seat and dictate the trend ahead.”~ Ajit Mishra, VP – Research, Religare Broking.
“On daily charts however the Nifty filled the upgap made on the previous day nullifying large bullishness. Overall Nifty’s trend could remain range bound with mild bullish bias. By this week, we will have an idea about the direction that the US Fed will like to take going by the non farm payrolls (due on Oct 07 evening) and inflation reports (due on Oct 13) due from US. The first batch of Q2 Indian corporate results will also start from the coming week and provide triggers for stock specific action. 17114-17497 could be the range for the Nifty this week”~Deepak Jasani, Head of Retail Research, HDFC Securities
Tata Consultancy Services (TCS): The IT major will be in focus ahead of September 2022 quarterly result. Experts believe TCS will continue its revenue growth momentum while operating margins are likely to improve from the wage hike impact that was seen in Q1.
Lupin: Kamal K. Sharma Non-Executive Vice Chairman of the Company, will be stepping down from the Board of Directors of the company with effect from 14 October 2022.
“Despite weak global sentiments, domestic market showed resilience and strength on Friday as strong demand is being witnessed with ongoing festive season and FIIs turning net buyers. Results season is also expected to kick in from this week which would result in many stock specific actions in the market. Overall the earnings season is expected to be healthy which is likely to keep the momentum positive in the market.”~Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Tracxn Technologies Ltd (TTL) will be launching its IPO today. The offer will open for subscription till 12 October (Wednesday). The price band for the offer has been fixed at Rs 75 – 80 per equity share of face value Rs 1 each. The market intelligence data provider backed by the co-founders of Flipkart intends to garner around Rs 310 crore through an offer for sale of 38,672,208 equity shares by the shareholders and promoters. Post the issue, the promoter shareholding will decline 15.28 per cent and come down to 35.65 per cent from the current 50.93 per cent stake held by the them in the company. Of the total offer size, 75 percent of the net offer will be reserved for qualified institutional buyers, 15 percent for non-institutional investors and the remaining 10 percent is for retail investors.
Shares in the Asia-Pacific fell on Monday, with Hong Kong stocks leading losses. The Hang Seng index fell more than 2% in early trade, with the Hang Seng Tech index down 3.17%. In mainland China, the Shanghai Composite lost 0.39% on its return to trade after the Golden Week holiday and the Shenzhen Component dropped around 1%. The S&P/ASX 200 was 1.63% lower. Markets in Japan, South Korea, Taiwan and Malaysia are closed for holidays.
Nifty futures traded 283 points, or 1.63 per cent lower at 17,031 on the Singapore Exchange, signaling that Dalal Street was headed for a negative start.