Market HIGHLIGHTS: Sensex ends 80 pts down, Nifty holds above 18000; IndusInd Bank, Tata Steel top losers

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Updated: November 10, 2021 3:59:02 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended in red on Wednesday.

Share Market Today, Share Market LiveBank Nifty fell 0.88 per cent while Nifty Metal slipped 1.76 per cent. Image: Pixabay

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended marginally lower on Wednesday, a day before the weekly F&O expiry. BSE Sensex fell 80 points to 60352, while NSE Nifty ended above 18000, at 18017. Bharti Airtel, M&M, Sun Pharma, Reliance Industries Ltd (RIL), ITC, Dr. Reddy’s, Bajaj Finserv were among top Sensex gainers. On the flip side, IndusInd Bank, Tata Steel, Hindustan Unilever Ltd (HUL), Asian Paints, Titan, HDFC Bank ended in the negative territory. Nifty Auto index gained over half a per cent, while Nifty Pharma was up 0.23 per cent. Bank Nifty fell 0.88 per cent while Nifty Metal slipped 1.76 per cent.

 

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    15:38 (IST)10 Nov 2021
    Sensex, Nifty end marginally lower

    BSE Sensex fell 80 points to 60352, while NSE Nifty ended above 18000, at 18017

    14:40 (IST)10 Nov 2021
    Zerodha’s co-founder Nikhil Kamath takes a dig at Nykaa valuation, as stock PE hits 1600x on stellar listing

    Nykaa shares nearly doubled on listing day, rising 98 per cent to Rs 2,235 apiece from the issue price of Rs 1,125. The stellar listing sent its total market capitalisation past Rs 1 lakh crore. At a day’s high of Rs 2,235 apiece, Nykaa stock was commanding a price 1,607.9 times its FY21 earnings per share (EPS) of Rs 1.39. With the PE at usually unseen levels, Nikhil Kamath, co-founder, True Beacon and Zerodha, took a dig at Nykaa’s valuation. “Nykaa lists at 1600 times price to earnings. They sell cosmetics online, Paytm next, the best thing for a value stock investor might be to go on a really long holiday right about now,” Kamath said in a tweet.

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    14:20 (IST)10 Nov 2021
    Sensex support at 59800-59900

    Our research suggests that if the 59800-59900 levels act as an important support in the market. If the market sustained above 59800, we can expect it to trade in the range of 59800-60700. Gaurav Garg, Head of Research, Capitalvia Global Research 

    12:56 (IST)10 Nov 2021
    Sensex, off from day's low, still trades in red

    BSE Sensex was trading 241 points or 0.40 per cent down at 60,192, while NSE Nifty was still trading below 18000

    12:53 (IST)10 Nov 2021
    Nykaa to tap high growth digital/online penetration in BPC/Fashion market

    It is one of the very few profitable new-age company and is the first women led unicorn which also attracted lot of investor interest. Apart from leadership in online BPC in India, Nykaa is also one of the fastest growing fashion platforms in India based on GMV (Gross Merchandise Value). Nykaa’s key strengths lies in its inventory-led business model for BPC segment, which allows it to offer authentication for all its products and ensures availability and efficient distribution. The online BPC market is highly underpenetrated at just 8% in India and is growing at a very fast pace of 60% p.a. over CY16-20. Given 35% market share of Nykaa in online BPC, we believe Nykaa is rightly placed to tap the high growth digital/online penetration in BPC/Fashion market. We like Nykaa given its leadership position in online BPC market, customer centric approach, profitable tech platform and capital efficient business model. Sneha Poddar, AVP Retail Research, Motilal Oswal Financial Services

    12:51 (IST)10 Nov 2021
    Investors must hold positions in Nykaa for long-term

    Nykaa stock is trading at a premium of over 82% at ₹2,054 per share on the NSE as compared to its IPO issue price of ₹1,125. We advice investors to cover their 50% position at current premium and rest hold with closing stoploss of 1850 for the target of 2500. Nykaa has a strong fundamental so investors may hold their position for longer period. Ravi Singh, VP & Head of Research, Share India Securities

    10:56 (IST)10 Nov 2021
    Nykaa shares tops Rs 1 lakh crore mcap on debut day

    Nykaa shares hit Rs 1 lakh crore market capitalisation on stock debut day. Nykaa shares more than doubled from IPO price on listing day

    10:54 (IST)10 Nov 2021
    Sapphire Foods IPO: KFC, Pizza Hut operator subscribed 54% so far on day 2; what should investors do?

    KFC and Pizza Hut operator Sapphire Foods India’s IPO has received 56 per cent subscription so far on day two of the bidding process. The issue received bids for 54.56 lakh equity shares against an offer size of 96.63 lakh shares so far on the second day of bidding. The portion reserved for retail investors saw 2.97 times subscription, while the reserved portion of non-institutional investors was subscribed just 6 per cent, and qualified institutional buyers have put in bids for 82,728 shares against 52.70 lakh shares reserved for them. Their portion was subscribed 2 per cent.

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    10:16 (IST)10 Nov 2021
    What should do now post Nykaa stellar listing

    Nykaa is debuting the secondary market on a strong note on the back of stellar response by the investors and strong fundamentals. It is among the few profitable new edge businesses furthermore it is a high-growth company and into the right business where it may continue to grow in double digits for many years. We are expecting upside momentum may continue for at least 1-2 days then it may be stabilized for some time because valuation could be a concern after a big listing gain however 2000 level could act as a support level in the near term. It may head towards 2100/2200 levels even after a big opening. Those who were playing for listing gain can keep a stop loss of 1950 while aggressive investors are advised to hold this stock for the long term because it is one of the few stocks in new edge companies to own into your portfolio. It is difficult to buy after a big gain at opening however fresh investors can accumulate in parts where they can buy 25℅ at the opening of what they want to invest into this stock while if it witnesses any correction towards 18000 level then they can add more. Santosh Meena, Head of Research, Swastika Investmart

    10:07 (IST)10 Nov 2021
    ICICI Bank, HDFC, Kotak Bank top BSE Sensex draggers

    ICICI Bank, Housing Development Finance Corporation (HDFC), Infosys, HDFC Bank, and Kotak Mahindra Bank were among top index draggers

    10:05 (IST)10 Nov 2021
    Nykaa shares rally 88% on stock market debut day

    Nykaa shares further surged in trade, rising 88.5 per cent to Rs 2,105 levels on BSE

    09:59 (IST)10 Nov 2021
    Nifty continues to face resistance at higher levels

    The markets have opened on a tepid note - it continues to face resistance at higher levels. We are unable to sustain above 18000-18100 for even two sessions in a row. If the Nifty can get past that hurdle, we can scale higher to 18400 and then 18600. Until then it is a wait and watch situation as the markets are not bearish either so traders need to wait for a direction to emerge. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:42 (IST)10 Nov 2021
    Nifty may trade in 73.80-74.50 range

    The global equities are currently trading lower by 1 to 1.5% following yesterday's fall in US equities on the rising inflationary concerns on the economy. Hence, domestic equities could also fall by more than 1% today. The foreign investors seem to continue their selling spree from the secondary market as yesterday also they have sold almost Rs. 2,445 crores from equities. On the IPO side, very much hyped ‘Paytm’ IPO is subscribed by just 50% on the 2nd day. It will be interesting to see whether India’s biggest IPO will be able to oversubscribe by more than 50 or 70 times on the final day. On the data front, the Chinese CPI/PPI data are out and that suggests escalating factory inflation to 26 years high. The market now awaits today’s US CPI data for further guidance on Fed’s policy. India’s CPI and IIP data are due on Friday. The RBI could start adding USD into their reserve kitty as the rate seems favorable for their book and thus importers are time and again advised to cover on dips close to 73.90-74.00 levels. As long as 73.80 is holding, the short-term range is pegged from 73.80 to 74.50. Amit Pabari, managing director, CR Forex Advisors

    09:41 (IST)10 Nov 2021
    All eyes on Nykaa IPO shares listing

    Today's trading activity in the market is likely to be dominated by the listing and trading in Nykaa. Investors should not be carried away by the exuberance in the IPO market where IPOs are made at a huge premium. Even in this highly-valued market, there are some high-quality stocks available at reasonable valuations. For instance, in financial services and health care. Investors may look at such tried and tested names rather than chasing high-priced IPOs driven by expectations. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:36 (IST)10 Nov 2021
    Policybazaar IPO share allotment: Check status via BSE, Link Intime; grey market premium, listing on Nov 15

    Policybazaar parent company PB Fintech’s Rs 5,625-crore IPO, which was subscribed 16.59 times, will finalise the share allotment on Wednesday, 10 November 2021. The public issue received bids for over 57.23 crore shares against the total issue size of over 3.45 crore shares. Policybazaar IPO shares are likely to make their stock market debut next week on Monday, 15 November, according to the Red Herring Prospectus. The initiation of refunds or unblocking of funds from the ASBA account will take place on November 11, Thursday. The equity shares will be credited to the depository accounts of allottees on the next day.

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    09:25 (IST)10 Nov 2021
    Bank Nifty falls nearly 1%

    Bank Nifty was down nearly 1 per cent, followed by losses in Nifty Financial Services, Nifty Private Bank. While Nifty Pharma, Nifty Auto, Nifty Media were trading in green

    09:23 (IST)10 Nov 2021
    HDFC, Kotak Mahindra Bank, ICICI Bank were top losers

    HDFC, Kotak Mahindra Bank, ICICI Bank, Hindustan Unilever Ltd (HUL), Bajaj Auto, State Bank of India (SBI) were top index laggards

    09:20 (IST)10 Nov 2021
    M&M, Sun Pharma, Titan top gainers

    M&M, Sun Pharma, Dr. Reddy's, and Titan Company were top BSE Sensex gainers

    09:19 (IST)10 Nov 2021
    Sensex tanks over 350 pts, Nifty below 17950

    BSE Sensex fell 366 points or 0.61 per cent to 60,066, while Nifty 50 gave up 18000 level

    09:10 (IST)10 Nov 2021
    Sensex falls over 100 points in pre-open

    BSE Sensex fell 136 points or 0.23 per cent to 60,297 in the pre-opening session on Wednesday

    09:05 (IST)10 Nov 2021
    Paytm IPO: Issue subscribed 48% on day 2, retail portion fully booked; what should investors do?

    India’s biggest-ever public issue, Paytm IPO received a 48 per cent application on day two of the bidding process. The issue received bids for 2.34 crore equity shares against an offer size of 4.83 crore shares so far on the first day of bidding. The portion reserved for retail investors saw 1.23 times subscription, while the reserved portion of non-institutional investors was subscribed just 5 per cent, and qualified institutional buyers have put in bids for 1.20 crore shares against 2.63 crore shares reserved for them. Their portion was subscribed 46 per cent.

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    08:43 (IST)10 Nov 2021
    Nifty eyes a negative start on Wednesday

    Nifty is expected to open negative, with a gap down of 120 points at 17920. Since the last two trading sessions, Nifty has been facing resistance at its 20 period moving average. Traders should avoid taking long positions till the time Nifty closes above 18100 with higher than average volumes. Gaurav Udani, CEO & Founder, ThincRedBlu Securities

    08:17 (IST)10 Nov 2021
    Nykaa, HDFC, Zee Media, Jet Airways, Power Grid, Berger Paints, Petronet LNG stocks in focus

    A total of 286 BSE-listed companies such as Bank of Baroda, Zomato, Affle India, Berger Paints, Glenmark Life Sciences, India Cements, Krishna Institute of Medical Sciences, Mazagon Dock Shipbuilders, Metropolis Healthcare, Nuvoco Vistas Corporation, Oil India, Pidilite Industries and Tata Teleservices among others will release September quarter earnings on November 10.

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    08:01 (IST)10 Nov 2021
    Paytm IPO: Issue subscribed 48% on day 2, retail portion fully booked; what should investors do?

    India’s biggest-ever public issue, Paytm IPO received a 48 per cent application on day two of the bidding process. The issue received bids for 2.30 crore equity shares against an offer size of 4.83 crore shares so far on the first day of bidding. The portion reserved for retail investors saw 1.20 times subscription, while the reserved portion of non-institutional investors was subscribed just 4 per cent, and qualified institutional buyers have put in bids for 1.18 crore shares against 2.63 crore shares reserved for them. Their portion was subscribed 45 per cent.

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    08:00 (IST)10 Nov 2021
    Nykaa IPO shares listing day strategy: Listing today, grey market premium soars; buy, sell, hold?

    Nykaa, owned by FSN E-Commerce Ventures Ltd, whose IPO got 81.78 times subscription, is scheduled to make its stock market debut on Wednesday, 10 November 2021. The IPO received a stellar response from both institutional as well as retail investors. In the primary market, Nykaa shares were quoting at a premium of 68 per cent over the issue price of Rs 1,125 per share, according to the people who deal in unlisted shares of the companies. Nykaa has a diverse portfolio of beauty, personnel care, and fashion products including its owned manufactured brand products under its two business verticals, Nykaa and Nykaa Fashion.

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