Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices extended gains into third straight day as global markets bounced back. BSE Sensex surged 787 points, or 1.3% to end at 60,747, while broader NSE Nifty 50 shut shop at 18,011, up 225 points or 1.26%. In the broader market, the BSE MidCap, and SmallCap indices edged 1.24% and 0.45% higher, respectively. Gains were broad-based as all the sectoral indices ended on a positive note. Financial Services, IT, Pharma, Auto, and Consumer Durable indices gained over 1% each, while others added up to 1%. Ultratech Cement, Sun Pharma, HDFC twins, L&T, M&M, Bajaj twins, Bharti Airtel, Asian Paints, Infosys, Tech M, Kotak Bank, HUL, Titan, and ITC jumped 1-4%. On the downside, NTPC, Dr Reddy’s Labs, IndusInd Bank, and Nestle were the only Sensex losers.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates October 31, Monday
Bank Nifty index also ended on a positive note. The index jumped 316 pts or 0.77% to settle at 41,306
UltraTech Cement, Eicher Motors, M&M, HDFC and Sun Pharma were among the top Nifty gainers, while Apollo Hospitals, Dr Reddy’s Labs, NTPC, IndusInd Bank and Britannia Industries were the laggards.
Benchmark indices ended higher for the third consecutive day with Nifty reclaiming 18,000 mark. Sensex ended 786.74 points or 1.31% higher at 60,746.59, and the Nifty 50 closed 225.40 points or 1.27% up at 18,012.20. All the sectoral indices ended in the green. In broader markets, the BSE midcap index rose 1% and smallcap index added 0.5%.
The initial public offering of DCX Systems garnered bids for 2.17 crore shares against an IPO size of 1.45 crore shares subscribing 1.5 times on the first day of bidding. The offer size has been reduced to 1.45 crore shares from 2.4 crore equity shares after the company successfully mobilised Rs 225 crore via anchor book on last Friday. Retail investors showed good interest at the beginning, investing for 6.55 times shares of the allotted quota, while the portion set aside for non-institutional investors was subscribed 1.35%.
Indian rupee closed 30 paise lower at 82.77 per dollar against previous close of 82.47.
Benchmark indices ended higher for the third consecutive day with Nifty reclaiming 18000 mark.
Bikaji Foods International Ltd IPO will open for public subscription on 3 November and will close on Monday (7 November). The anchor book for the IPO will open on November 2, Wednesday. For the Rs 881 crore IPO, the ethnic snacks company has fixed the price band at Rs 285-300 per equity share. The issue with a face value of Re 1 per equity share is an entirely an offer for sale (OFS) up to 2.93 crore shares by existing shareholders and promoter group entities. Investors can bid for a minimum of 50 equity shares and in multiples of 50 thereafter.
We are entering this week with almost all the usual signals of an approaching meltdown. Or a pull back at least, given the proximity to the psychological mark of 18k, as well as previous top, not to speak of the rapid gains of the last fortnight. Event risks are also aplenty, given the impending Fed and RBI announcements as well as US jobs and CPI numbers. However, the persistent decline in VIX through October from the September peak of 22.89 to near 16, is a strong reason why the Nifty may not fall into the usual pattern, and just melt down. VIX’s behaviour is suggestive that market is becoming more and more comfortable the higher we go. Clearly, traders have set their eyes on much higher levels.
DCX Systems IPO has garnered bids for 51.47 lakh shares against an offer of 1.45 crore shares subscribing 34% on the first day of bidding. Retail investors showed good interest at the beginning, investing for 1.68 times the shares of the allotted quota, while the portion set aside for non-institutional investors was subscribed 23%.
Nifty Bank index added 0.5%, supported by the HDFC Bank, Au Small Finance Bank, Kotak Mahindra Bank
Benchmark indices extended the gains and trading near the day's high with Nifty around 18000. The Sensex was up 715.52 points or 1.19% at 60675.37, and the Nifty was up 197.20 points or 1.11% at 17984.
“Despite short-term challenges, HUVR’s long-term growth prospects remain strong as the management focuses on driving 1) A broad-based portfolio and straddling across the price-value matrix driving premiumisation, 2) Cost savings initiatives, 3) Market development and market share gains across the portfolio, 4) Strong execution capabilities, which displays its strength in diverse product portfolio and strong financial prowess in this volatile and the challenging environment. We recommend a BUY rating on the stock with a near term TP of Rs 2780, implying an upside of 10% from CMP.“–Axis Securities
Sensex is up 570.24 points or 0.95% at 60530.09, and the Nifty jumped 165.30 points or 0.93% at 17952.10.
Nifty Pharma index added 1%, led by Aurobindo Pharma, Dr Reddy's Laboratories, Divis Laboratories
“Sectorally, we expect BFSI, IT, Capital Goods, Consumption and PSU to outperform. Our preferred large caps are State bank of India, Kotak Mahindra Bank, Maruti, Reliance Industries, Infosys, Titan, Coal India, Sun Pharma while preferred midcaps are CUB, Bank of Baroda, Concor, Granules, Coforge, ABFRL, HAL, SCI, VIP, Cummins India Structurally, formation of higher high-low on the weekly chart signifies revival in upward momentum that makes us confident to retain support base at 17300.”
Titan shares rose to hit record high on hopes of strong Q2FY23. The Tata group stock has surged 44% in 4 months. The board of directors of Titan is scheduled to meet on Friday, November 4, 2022 to consider and approve the unaudited financial results for the quarter and half year ended September 30, 2022.
This week will be important not only for India but also across the global markets. US Fed Interest rate decision, Bank of England rate decision, globally PMI data, US Non-farm payroll data, RBI called for an additional meeting of its Monetary Policy Committee and local October auto monthly sales data will be focus for next week. In the global market front, US Fed to announce its interest rate decision on 2nd November, Bank of England rate decision on 3rd November while RBI’s MPC meeting will be held on 3rd November. Expectation that the US Fed would hike interest rate by 75bps, has already factored in the market. However, US Fed commentary will be important for the global markets sentiment and India is not out of the world.
JSW Energy share price surged 5% as the company on Friday posted a 37% rise in its consolidated net profit to Rs 466 crore in the September quarter compared to the year-ago period, on the back of higher revenues.
Nykaa has revised the record date for bonus shares to November 11. “We refer to our letter dated October 03, 2022, regarding issue of bonus equity shares of the company in the ratio of 5 fully paid-up equity shares of ₹1/- each for every 1 fully paid-up equity share of Re 1/- each, subject to approval of shareholders by way of postal ballot and inform that pursuant to Regulation 42 of SEBI Listing Regulations, the board of the company has fixed Friday, November 11, 2022, as the ‘record date’ for the purpose of determining the members eligible for bonus equity shares,” said the company filing with the exchanges on 28 October.
Bandhan Bank shares slipped 10% to hit the lowest level this year on weak Q2FY23. Though balance sheet restructuring in progress, the operationally weak performance and uncertainty on stressed pool remains an overhang, according to analysts.
Bharti Airtel shares rose to touch a 52-week high of Rs 826.65. The stock was quoting at Rs 822.75, up Rs 5.95, or 0.73% on the BSE. The telecom major is likely to report strong earnings for the September quarter later today. The company will likely report a 75 to 110% on-year growth in net profit for the quarter, while its revenue growth is expected around 20%. The company's operating profit margin is likely to expand over the last year but contract sequentially.
“Technically the market is poised to continue the ongoing rally aided by support from the mother market US where the Dow’s 828 points rally last Friday recorded fourth straight week of gains. The driving force behind the ongoing rally is the strength of the US economy which is indicating a lower probability of an immediate US recession and, more importantly, indications that inflation is plateauing and might show a declining trend soon. This might enable the FED to slightly moderate their hawkish stance. Already central banks of Canada and Australia have hiked rates below expectations. If this trend spreads, that will favour continuation of the rally in the short-term. The fact that FPIs have turned buyers during the last 2 days is another positive. However, DIIs might sell at higher levels since valuations are high.”-VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
BSE Information Technology (IT) index rose 1%, supported by the ASM Technologies, Mindtree, Birlasoft
On Friday, Nifty futures remained almost unchanged on the price front and added around 4% of open interest whereas Banknifty futures added around 8% of open interest as short buildup. Majority of F&O sectors settled lower. Amongst them, Metals, IT, Textile and Chemical stocks witnessed maximum addition of short positions whereas long buildup was seen among Oil & Gas and Auto stocks. On options front, put writing was seen at multiple strikes along with call writing at 18000 and higher strikes and maximum positions are at 18200 CE and 17700 PE. –Globe Capital
ACC (PREVIOUS CLOSE: 2325) BUY
For today’s trade, long position can be initiated in the range of Rs 2290- 2310 for the target of Rs 2370 with a strict stop loss of Rs 2270.
HDFCLIFE (PREVIOUS CLOSE: 530) BUY
For today’s trade, long position can be initiated in the range of Rs 524- 527 for the target of Rs 540 with a strict stop loss of Rs 522.
TATAMOTORS (PREVIOUS CLOSE: 410) BUY
For today’s trade, long position can be initiated in the range of Rs 405- 408 for the target of Rs.418 with a strict stop loss of Rs 402.
HUL, Dr Reddy's Laboratories, Infosys, Tata Motors and Tech Mahindra were among major gainers on the Nifty, while NTPC was the only loser in opening trade
Indian indices opened on a positive note on the back of positive global cues. The Sensex was up 511.45 points or 0.85% at 60471.30, and the Nifty was up 147.80 points or 0.83% at 17934.60.
Benchmark indices are trading firm in the pre-opening session. Sensex was up 280 points or 0.48% at 60,246.96, and the Nifty was up 122.50 points or 0.7% above 17900.
The Indian Rupee is expected to appreciate on Monday amid rise in risk in equity markets, declining oil prices, and fresh foreign fund inflows. In the previous session, rupee declined against the US dollar on Friday as a stronger greenback in the overseas markets weighed on the local unit. However, a positive trend in domestic equities and fresh foreign fund inflows capped the rupee’s loss. At the interbank foreign exchange market, the local currency opened weak at 82.39, and settled at 82.48 against the American currency, down 15 paise from its previous close. The domestic currency has been hitting new lows, week after week. From holding on to 74 against the US dollar in January 2022 to dropping to 83 in October, the local unit has seen a double-digit fall against the greenback in percentage terms in just 10 months.
Adani Group: The conglomerate will invest over $150 billion across businesses ranging from green energy to data centres to airports and healthcare.
NTPC: The company has reported a 7.4% year-on-year decline in consolidated profit at Rs 3,417.7 crore for the quarter ended September FY23.
JSW Energy: Sajjan Jindal-led JSW Energy received board has appointed Parth Jindal as a non-independent director, and has also approved the proposal to raise Rs 2,500 crore through non-convertible debentures.
“Indian equity markets gave positive return, following the trend of major global markets. Amongst sectors, BSE energy, Oil & Gas, Auto and Metal indices led the gains whereas BSE FMGC index saw marginal loss last week. Global Central Bank action on interest rates continued with the European Central Bank announcing a 75-basis-point interest rate hike and on the other hand, the Bank of Japan remained an outlier as it maintained its ultra-low interest rates policy. US 10-year bond yield saw some softening. However, global situation continues to remain challenging. Over the next couple of weeks, Indian markets will focus on domestic macro data and quarterly results & management commentary will drive stock-specific action.”-Shrikant Chouhan, Head of Equity, Research (Retail), Kotak securities
Indian benchmark indices NSE Nifty 50 and BSE Sensex are likely to open higher on Monday, hinted SGX Nifty. Nifty futures were trading 165 pts or 0.93% higher at 18000 on the Singapore Exchange, signalling a positive start for domestic equities. “Markets have been inching gradually higher however a mixed trend across the index heavyweights keeping the momentum in check. We expect Nifty to maintain the positive tone till it manages to hold 17,400 and inch gradually toward the 18,100+ zone. We feel banking might take a breather around its record high and other sectors would fill in on a rotational basis. Traders should continue with the “buy on dips” approach with a focus on overnight risk management,” said Ajit Mishra, VP – Research, Religare Broking.
“For the day, Nifty should open around 18,000. Investors advised to book profits upon opening in longs initiated on Friday. Positional View: Nifty fresh breakout will come above 18,100. This should be taken out too in this month and we can see a new all-time high shortly.”-Rahul Sharma, Head – Research, JM Financial Services.
“Rollover for Nifty and BankNifty stood at 76% and 77% respectively, which is lower than the three-month average. On net basis, stronger hands continued to curb liquidity by selling to the tune of Rs 6236 crores in October month till date. In F&O space, they covered decent portion of shorts and rolled over bullish bets in the month of November; hence the Long Short Ratio has surged drastically from 13% to 59%, which is indeed a positive development for our market. In index options segment, traders are eyeing 17800 followed by 18000 on the upside; whereas 17500 put strike holds highest open interest concentration. For the coming series, we continue with our bullish stance on market and expect the Nifty to soon surpass the psychological mark of 18000. Hence, any dips should be used an opportunity to go long in the market.”-Sneha Seth, Derivatives Research Analyst, Angel One
After a brief pause in September series, the Bulls were back with full of optimism in the Festive month. We had a remarkable start for the October expiry, wherein on the inaugural day itself Nifty reclaimed almost 17200. As we progressed, index kept inching higher and the base kept shifting northward to eventually conclude the October series with a fabulous gain of nearly six percent. During the series, we observed blend of short covering and long formation in both the key indices; however, open interest declined series on series suggesting we are starting new series with lower base specifically in case of BankNifty,”-Sneha Seth, Derivatives Research Analyst, Angel One
“While the market continued to stay volatile, Sensex revisiting the 60-k mark for a brief period indicates that investors are willing to bet on India's growth story in spite of the lingering recession fears in key economies. The aggressive rate hike fears by the US Fed seems to be fading for some time, as the falling US Dollar index, declining treasury yields, and benign crude oil prices are turning out to be key positive catalysts for investors. Technically, the Nifty is consistently facing resistance between 17800 to 17850 levels. Also, the index is consistently taking support near 17600. On weekly charts, the Nifty has formed a Hammer kind of candlestick formation, indicating indecisiveness between the bulls and bear. In the near future, 17800 would act as a key resistance zone for traders, and above the same the index could rally till 18000-18100. On the flip side, below 17600, the selling pressure is likely to increase and could retest the 50 day SMA (Simple Moving Average) or 17500. Further down side could drag the index till 17400.”-Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities
India's foreign exchange reserves fell for the week ending 21 October as the Reserve Bank of India (RBI) continues to protect the rupee from falling further. The RBI's weekly statistical supplement showed on Friday that the forex reserves of the country fell by $3.85 billion to $524.52 billion in the week ended 21 October.
After withdrawing over Rs 7,600 crore last month, foreign investors have slowed down the pace of equity selling in India in October so far, as they pulled out Rs 1,586 crore from capital markets. Foreign portfolio investors (FPIs) were net buyers of Rs 51,200 crore in August. According to the data from the depositories, FPIs withdrew Rs 1,586 crore from equities in October (till 28). One trading session is left for the month.
The Reserve Bank of India (RBI) on October 28 announced a 231 basis point higher rate of interest on the government's Floating Rate Bond (FRB), 2034, at 7.69 percent per annum. One basis point is one-hundredth of a percentage point. This interest rate will be applicable for the half-year period from October 30, 2022 to April 29, 2023. “It may be recalled that FRB, 2034 will carry a coupon, which will have a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions of 182 Day T-Bills, plus a fixed spread (0.98 percent),” the central bank said in a release.
Since it is the beginning of the new F&O series, the NSE has not added any stock under its F&O ban list for 31 October. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
Bengaluru based DCX Systems Ltd will float its maiden IPO on 31 October. The issue will remain open for subscribtion till 2 November (Wednesday). The price band for the offer has been fixed between Rs 197-207 per equity share of face value Rs 2 each. The company plans to raise Rs 500 crore through this public issue that includes a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 100 crore by promoters and selling shareholders. After the issue, the promoter shareholding will decline 24.61 percent and come down to 73.58 percent from the current 98.19 percent stake held by them in the company.
Foreign institutional investors (FIIs) net bought shares worth Rs 1,568.75 crore, whereas domestic institutional investors (DIIs) net offloaded equities worth Rs 613.37 crore on 28 October, according to the provisional data available on the NSE.
Larsen & Toubro, Tata Steel, Bharti Airtel, 3i Infotech, Castrol India, LT Foods, Data Patterns (India), Equitas Small Finance Bank, Fino Payments Bank, GHCL, Motherson Sumi Wiring India, Music Broadcast, Saregama India, Swaraj Engines, Timken India, and VST Tillers Tractors will report their September FY23 quarter earnings (Q2) on 31 October.
“The support for Nifty has shifted around 17600 levels while on the upside 18000 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 40500 levels while resistance at 41800 levels. Overall, Traders are advised to keep a buy-on-dip approach until there’s any change in data and look for stock-specific opportunities with a positive bias,” -Palak Kothari, Senior Technical Analyst, Choice Broking.
“Nifty moved above the high-low range of the previous three sessions and closed at the highest in more than 5 weeks. Sectoral rotation is keeping the Nifty afloat in volatile times. On a weekly basis, Nifty gained 1.20% building on the gains of the previous week. Nifty could now head towards 17838-17919 band while 17568-17637 band could offer support,” -Deepak Jasani, Head of Retail Research, HDFC Securities.
Shares in the Asia-Pacific were mixed on Monday as China factory activity missed expectations, and as markets look ahead to the U.S. Fed meeting later this week. Hong Kong’s Hang Seng index was fractionally lower while gaming stocks dropped more than 2%. In mainland China, the Shanghai Composite fell 0.57% and the Shenzhen Component slipped 0.375%. Japan's Nikkei 225 rose 1.39%, and the Topix gained around 1%. South Korea’s Kospi added 0.58% and the Kosdaq was 0.52% higher. In Australia, the S&P/ASX 200 increased 0.64%. MSCI’s broadest index of Asia-Pacific shares outside Japan was about flat.
A robust, broad-based rally sent the Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next week's much-anticipated two-day policy meeting of the Federal Reserve. All major US indices ended the session up about 2.5% or more, with the S&P and the Nasdaq notching their second straight weekly gains. The blue-chip Dow posted its fourth consecutive Friday-to-Friday advance and its biggest weekly percentage gain since May. The Dow Jones Industrial Average rose 828.52 points, or 2.59%, to 32,861.8, the S&P 500 gained 93.76 points, or 2.46%, to 3,901.06 and the Nasdaq Composite added 309.78 points, or 2.87%, to 11,102.45.
Indian benchmark indices NSE Nifty 50 and BSE Sensex are likely to open higher on Monday, hinted SGX Nifty. Nifty futures were trading 165 pts or 0.93% higher at 18000 on the Singapore Exchange, signalling a positive start for domestic equities.