Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended on a positive note in the volatile session. While BSE Sensex ended 95.71 points or 0.16% higher at 59,202.90, NSE Nifty shut shop at 17,564.00, up 51.70 points or 0.30%. Sectorally, Information Technology, Metal, PSU Bank, Power, and Oil & Gas edged up 1% each. In the broader markets, the BSE midcap and smallcap indices ended on a flat note. UPL, Adani Enterprises, Tech Mahindra, HCL Tech and Adani Ports were among the top Nifty gainers, while IndusInd Bank, Asian Paints, Apollo Hospitals, UltraTech Cement and HDFC Bank were the top losers.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates October 20, Thursday
Indian benchmark indices ended on positive note in the volatile session. BSE Sensex closed 95.71 points or 0.16% higher at 59,202.90, and the NSE Nifty 50 settled 51.70 points or 0.30% at 17,564.00. UPL, Adani Enterprises, Tech Mahindra, HCL Tech and Adani Ports were among the top Nifty gainers. IndusInd Bank, Asian Paints, Apollo Hospitals, UltraTech Cement and HDFC Bank were the top losers.
Among sectors, Information Technology, metal, PSU Bank, power and oil & gas up 1 percent each. The BSE midcap and smallcap indices ended on flat note.
"2022 has been a highly volatile year for Gold and silver prices. On domestic front, gold and silver prices get a boost during festive season. Fall in precious metal was restricted following rupee depreciation that was to the tune of ~10% coupled wiith hike in basic customs duty on gold imports by 5%. As India is a price taker any movement in COMEX affects our prices. Macro-economic backdrop does have an upper hand this year, major focus is on central bank’s monetary policy, inflationary pressure, and geo-political tensions. If there are any changes in these factors, we could see some short covering, which could take gold prices much higher and quicker, but we feel that till the time we don’t see a change in stance from major central bankers w.r.t aggressive interest rate hikes, we could continue to witness pressure on gold prices. Amidst these uncertainties, it is advisable to have gold and silver in one’s portfolio. Hence, anyone who is looking to invest in gold and silver with a medium to long-term outlook can start to accumulate at these levels"
-Motilal Oswal Financial Services
BSE Realty index down 0.5 per cent, dragged by the Oberoi Realty, Macrotech Developers, Godrej Properties
Canara Bank reported on Thursday an 89 per cent jump in net profit to Rs 2,525 crore in July-September (Q2 FY23), aided by higher net interest income that came on the back of a healthy growth in advances.
"For rupee, this week is slightly crucial, and it is best that any huge bets are avoided considering RBI’s unpredictable mood swings. However, the overall trend of USDINR Spot is bullish (long run). If USDINR Spot (CMP: 83.19), breaks the next key level of 83.40 levels and closes above it, there is a high possibility for the pair to breach 83.80 -84.00 levels. However, on the downside, the key support lies at 82. 30 levels break which could push the currency towards 81.50 levels."
- Heena Naik, Research Analyst - Currency, Angel One
Colgate-Palmolive (India) reported a 3.3 per cent growth in Q2 net profit at Rs 278.02 crore when compared with Rs 269.17 crore reported in a year ago period. Total income was up 2.9 per cent on-year at Rs 1,398.76 crore.
Benchmark indices were trading flat in the volatile session. The Sensex was down 100 pts or 0.17% at 59006, and the Nifty was down 18 points at 17488.
"After hitting a life-time high of 83.2325, USDINR made a reversal to dip towards 82.9050. Currently trading at 82.95 as RBI sold dollars in the market to smoothen out the process of depreciation"
- Anil Kumar Bhansali, Head of Treasury, Finrex Treasury
"As we enter the new Samvat year, some factors impacting market sentiment will start to ease. The Fed may not be as aggressive on interest rates, and besides, inflation could cool purely because of the higher base effect. Capital goods, pharma and cement, will outperform, while public and private banks, NBFCs and the auto sector may wind up laggards. We also expect mid and small caps to outperform large caps. If you look at the data from the last Samvat to the current one, there is hardly any difference between the performance of large, mid and small caps. On the contrary, small caps have performed better than large caps. Therefore, the performance of the Indian equity market going forward would be driven more by small and mid-caps. We are bullish about mid and small caps, given the yearly rise of retail investors. By the next Samvat, we expect the market to perform exceptionally well."
-Sunil Damania, Chief Investment Officer, MarketsMojo
Delhivery shares crash 11% post Q2 business update
US 10-year yield rises to 4.15%; India 10-year at 7.5%
“Samvat 2079 is likely to be Like Diwali. There will be celebration along with loud busting of crackers. Ukraine, US Fed Rate, Oil, Inflation and Zero Covid policy of China will continue to bust. A disciplined investor who can buy on the dips will make money. A momentum investor will have tough time managing volatility. Banks, Capital Goods, Manufacturing are likely to outperform the market in Samvat 2079. Tech and Pharma will provide interesting opportunities on a bottom up basis in the correction.”
-Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Company
Shares of Tracxn Technologies jumped 25 per cent to Rs 100 as against its issue price of Rs 80 on the National Stock Exchange (NSE) after a muted debut.
Sensex is down 98.93 points or 0.17 percent at 59,008.26. Nifty is down 20.20 points or 0.12 percent at 17,492.10.
"Nifty: No intraday trading signal generated as of now. With USDINR hitting newer highs + weekly expiry, it is best to stay light."
- Rahul Sharma, Head – Research, JM Financial Services
IndusInd Bank tanked 6% on profit booking after September quarter results. The bank reported a healthy 57 per cent on-year growth in July-September standalone net profit to Rs 1,805 crore driven by a healthy rise in loan disbursement and net interest income.
"Immediate support for the market is seen at 17100 as slower pace of retracement over the past few sessions indicates of inherent strength in Nifty to add further on numerous occasions index witnessed buying demand in the vicinity of 200 days EMA. The momentum indicator RSI (relative strength index) is sustaining above 50 levels and has started to form Higher High, Higher Low which is in sync with the trend. This reflects the rising momentum in the prices. Eventually, one can expect the index to accelerate upward momentum. However, such a move would be in a non-linear fashion amid global volatility. As long as index trades above 17350 momentum is likely to remain positive and buy on dip towards 17250-17270 would be the ideal approach going forward."
-Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking
BEL share price edged 2% up on bagging Li-ion battery order worth Rs 8,060 crore. Triton Electric Vehicle India, a part of Triton Electric Vehicle LLC, USA, has issued a letter of intent to the company for 300 KW Li-ion battery packs for its semi-truck project in India for Rs 8,060 crore.
Nestle India gained over 1 per cent after the company posted 8.3 per cent on-year growth in net profit to Rs 668 crore in Q3, above street estimates
Profit booking was seen in Shoppers Stop as shares dropped over 8 per cent after the company clocked 57.7 per cent on-year revenue growth to Rs 1,012.7 crore in Q2FY23.
"The recent 3 percent rally has taken the Nifty to just 6 percent below its 52-week high. This rally in a difficult global equity environment has surprised many, including the FIIs, who have slowed down their selling. Sustained flows into mutual funds, particularly via the SIP route, is a major factor imparting strength to the market even in the context of negative global economic news. So long as DIIs are flush with funds markets are unlikely to correct sharply. Fundamental support to the market is coming from the good Q2 numbers particularly from financials. This week is a results heavy week and most results from Nifty constituents are likely to be good. The rising US bond yields and rising dollar are hitting all other currencies hard. This will continue to be a potential headwind for equity markets till US inflation starts showing a moderating trend."
-V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Metro Brands has signed a share purchase agreement to acquire 100% shareholding of Cravatex Brands Ltd., to expand its presence in the sports and athleisure space in India. Cravatex Brands Ltd is a retail, brand licensing, distribution and sourcing company that has the exclusive long‐term license for the Italian sportswear brand FILA, owns sportwear brand Proline, and represents other international brands, comlany said in its release. Metro Brands was quoting at Rs 902.40, up Rs 6.40, or 0.71% on the BSE.
"The Bank Nifty also witnessed profit booking from higher levels and gave up most of its early gains. For today’s weekly expiry, 40000 Put strike holds substantial OI, which should act as immediate support while on the higher side 40500 would act as resistance."
-ICICIDirect
"Markets will be volatile due to weekly derivatives expiry, on levels front, breakout above 17600 will open the gates for a further up move towards 17700/800 levels in the immediate near term."
-Globe Capital
Nestle India, HUL, ITC, HCL Tech and Reliance Industries were among major gainers on the Nifty, while IndusInd Bank, Hindalco, Bajaj Auto, Coal India and Tata Motors were the laggards.
Indian indices opened on negative note on October 20 with Nifty below 17500. The Sensex was down 227.42 points or 0.38% at 58879.77, and the Nifty was down 81.70 points or 0.47% at 17430.60.
NESTLEIND (PREVIOUS CLOSE: 19,739) BUY
For today’s trade, long position can be initiated in the range of Rs 19,665- 19,550 for the target of Rs 20,140 with a strict stop loss of Rs 19,430.
MUTHOOTFIN (PREVIOUS CLOSE: 1,050) BUY
For today’s trade, long position can be initiated in the range of Rs 1,048- 1,042 for the target of Rs 1,074 with a strict stop loss of Rs 1,032.
ABBOTINDIA (PREVIOUS CLOSE: 18,221) BUY
For today’s trade, long position can be initiated in the range of Rs 18,110- 18,010 for the target of Rs 18,640 with a strict stop loss of Rs 17,840.
Benchmark indices are trading lower in the pre-opening session. The Sensex was down 314.89 points or 0.53% at 58792.30, and the Nifty was down 65.10 points or 0.37% at 17447.20.
Zooming into 15-minute chart, we see that Nifty opened with an upgap on Wednesday, but selling pressure soon emerged from the highs and curbed the gains for the day. The Nifty nevertheless remains in a short term uptrend as it has moved above the previous swing highs of 17429 and made higher bottoms over the last few weeks. The Nifty is however near strong resistances which coincide with a downward sloping trend line that has held down the highs of 2021 and 2022. The index needs to convincingly cross these resistances for the uptrend to continue which could take the Nifty towards the previous intermediate highs of 18096. Crucial support to watch for resumption of weakness is at 17434.
Indian benchmark indices are expected to open in the red on weekly F&O expiry as trends in SGX Nifty indicate a negative opening for the broader domestic index with a loss of 80 points. In the previous session, the BSE Sensex ended nearly 150 pts higher at 59,107, while the NSE Nifty 50 settled 25 pts up at 17,512. According to analysts, Nifty can start to slide as it hovers near its crucial resistance zone. “Nifty seems to be a bit tired after the recent 4-day rise. It now needs to consolidate before embarking on the next upmove. 17608-17349 could be the band for the Nifty in the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.