Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls marked their return to Dalal Street after a one-day hiatus, pushing Sensex and Nifty near all-time highs. S&P BSE Sensex zoomed 488 points or 0.82% to end at 59,677 while the Nifty 50 index soared 144 points or 0.82% to close at 17,790. Bank Nifty gained 0.62% to regain 37,750 while broader markets outperformed the benchmark indices. Indi VIX closed 6.75% lower. Titan was the top gainer on Sensex today, skyrocketing 10.69% on the closing bell, followed by M&M, Maruti, IndusInd Bank, and Sun Pharma. Dr Reddy’s was the worst-performing Sensex stock, down 1,3%, followed by HDFC, and Nestle India.
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Domestic markets closed with gains on the weekly futures & options expiry session as bulls pushed Sensex and Nifty higher after a brief pause yesterday. S&P BSE Sensex soared 488 points or 0.82% to end at 59,677 while the Nifty 50 index jumped 144 points or 0.82% to close at 17,790. Titan was the top gainer on Sensex today, skyrocketing 10.69% on the closing bell, followed by M&M, Maruti, IndusInd Bank, and Sun Pharma. Dr Reddy's was the worst-performing Sensex stock, down 1,3%, followed by HDFC, and Nestle India. Going ahead, markets will tomorrow keep an eye on RBI’s MPC meeting outcome.
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Domestic benchmark indices closed with gains on the weekly F&O expiry. Broader markets outperformed. India VIX fell 6.75%.
Broader markets continue to outperform benchmarks on Thursday. Nifty Midcap 50 was up 2.2% while Nifty Smallcap 50 was up 1.4%. Nifty 50 was gained 0.82%.
Sensex and Nifty are down from intra-day highs but still trading comfortably in the green. Sensex was still up 500 points while Nifty was hovering just around 17,800.
"Sona BLW is one of India’s leading automotive technology companies that derives ~40% of its revenues from Battery Electric Vehicles (BEV) and Hybrid Vehicles and is the best play on the electrification trend in the Indian automobile industry. The company provides EV differential assemblies and gears, BSG systems and EV traction motors to global customers. ~75% of their income from sale of goods in FY21 came from end-use in the overseas markets. The global BEV segment has been fastest growing and is expected to maintain a high growth rate which is positive for Sona BLW. The company’s capabilities have enabled them to gain market share across its products especially for products related to EV/BEV. They also have strong market share ranging from 55-90% for differential gears for PV, CV and tractor OEMs in India. Given the traction in the BEV/Hybrid Vehicle space, we believe that Sona BLW will continue to command a higher multiple which is justified by ~47% earnings CAGR over FY21-24E. We remain positive on the future growth prospects of the company and have a BUY rating on the stock with a target price of Rs 719," said Milan Desai, Lead Equity Analyst, Angel One.
Check target price: Sona BLW
Mukesh Ambani’s green push for Reliance Industries Ltd (RIL) could result in nearly $60 billion value creation by 2025, said analysts at global brokerage and research firm Morgan Stanley. The brokerage firm raised RIL share price target to Rs 2,925 from the previous Rs 2,269, saying that it expects silicon and hydrogen to emerge as next decade’s ‘New Oil’ for Mukesh Ambani’s firm. This translated to a 13% upside from the current price of Rs 2,577 apiece. Reliance Industries, the most valuable private listed company in India, recently unveiled plans to transform its energy business. Mukesh Ambani plans to invest Rs 75,000 crore over the next few years in clean energy.
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Reliance Industries Ltd chairman Mukesh Ambani remained the richest Indian on Forbes list for the 14th straight year, continuing since 2008. Mukesh Ambani added $4 billion to his wealth in the last one year, retaining the top position with a net worth of $92.7 billion, according to Forbes 100 richest Indians list, which was released on Thursday. The 100 richest Indians grew their combined wealth to $775 billion; they added $257 billion, a 50 per cent gain, over the 2020 listing.
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Our research suggests that 59500-59600 levels will act as immediate support. we can expect the market to trade in the range of 59500-60000. Gaurav Garg, Head of Research, Capitalvia Global Research
India VIX, the volatility gauge, was down 5% on Thursday as benchmark indices skyrocketed more than 1% each.
Midcaps/Smallcaps outperformed largecaps by 4.1%/3.3% in September, said Bulls & Bears report by Motilal Oswal Financial Services. In the last 12 months, midcaps have risen 79% v/s a 57% rise for the Nifty. In the last five years, midcaps have underperformed by 8%. The Nifty Midcap100 P/E now trades at a 10% premium to largecaps. The Nifty closed higher for the fifth straight month in September. The index oscillated ~900 points before closing at 486 points (or 2.8%) higher MoM at 17,618. FII inflows were robust at USD1.1b. DIIs saw inflows for the seventh consecutive month at USD0.6b.
BSE Sensex and Nifty 50 soared over 1 per cent on Thursday, mirroring the positive Asian cues, on weekly F&O expiry day. In the previous session, profit booking in the index-heavyweight stocks pulled the indices down. ONGC and Titan Company stocks hit their respective 52-week highs today. ONGC share price surpassed its previous high of Rs 164.70, touched earlier this week, to scale a new high of Rs 170.9 apiece. Similarly, Titan Company share price rallied 10 per cent to hit a new high of Rs 2,361.45 apiece. Its previous all-time was Rs 2,205.65 apiece, hit on 5 October 2021.
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Sensex was above 59,800 while Nifty 50 was nearing 17,900 on Thursday as bulls attempt to take Dalal Street benchmarks near record highs.
Blackrock India Equities Fund (Mauritius) sold 25,50,064 RE units of Bharti Airtel on Thursday through a bulk deal at Rs 207.67 apeice.
Titan Company is up 8%. Stock is up mainly due to TCL recorded revenue growth of ~78% yoy in 1QFY22. TCL is targeting to gain market share in the Jewellery segment due to strong focus on wedding segment, huge scope for store expansion (40-50 stores every year), and gold harvest & gold exchange schemes. Further, the shift from unorganized (currently 70%) to organized (currently 30%) in the Jewellery segment will benefit branded players like Titan due to strong brand positioning and superior quality. Thus, we are positive on stock. Amarjeet Maurya - AVP - Mid Caps, Angel One
Rakesh Jhunjhunwala gained a staggering Rs 913 crore on his favourite stock Titan Company Ltd in the initial hour of trade on Thursday. The Tata Group company soared 10% to hit the upper circuit and a new 52-week high of Rs 2,361 per share as investors reacted to the positive business update provided by the company for the July-September period. Titan was the top gainer on Sensex on Thursday morning with a stellar performance on the bourses. Big Bull Rakesh Jhunjhunwala has been a fan of Titan for ages now and has continued to hold the stock in his portfolio for more than a decade.
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"The Nifty has opened with a gap but it needs to close above 17950 for a positive momentum to set in. If it breaks 17400 we will witness a bear market. Hence it is a range-bound between 17400-17950. Until we do not get past either end of this range, the movements are going to be choppy and sideways," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
India VIX, the fear gauge of domestic markets, was down 3.89% on Thursday morning. The volatility index slipped below 17 levels during the initial minutes of trade.
"A hold near 17700 is required for a move towards 17777 and 17900 levels whereas on the downside support is seen at 17580 and 17450 zones," said Shivangi Sarda, Quantitative Analyst, Derivatives and Technical Research at Motilal Oswal.
"On technical front, Nifty made a bearish engulfing candle on Wednesday, now the level of 17,830 can act as a good resistance and there is a strong support at the 17,500 level," said Mohit Nigam, Head - PMS, Hem Securities.
The mean reversion play that we had discussed yesterday, evolved precisely on anticipated lines. We had also stated our preference for resuming the upside trajectory, should the 17660 region be defended. Yesterday’s close being not far from 17660, we will go in today, expecting an upswing. The potential for rapid ascent to 18500 is still bright, but, indecisiveness may be in the 17730-70 vicinity. Inability to float above 17730 could deflate the upside momentum for the day, but the chances of a collapse, appear small.
~ Geojit Financial Services
Aarti Industries, Atul Industries, IRCTC, India Oil, ONGC, Tata Motors, and Titan were some of the companies to hit their 52-week highs on Thursday morning.
Nifty Midcap 50 was up 1.47% while the Smallcap 50 was 1.26% as smallcap and midcap stocks soared higher.
Although Sensex and Nifty were up in the green, broader markets were outperforming the benchmark. Midcap and small-cap indices on NSE were up more than 1% each.
All thirty Sensex constituents were trading with gains on Thursday morning as benchmark indices soared higher. Titan Company Limited was the top gainer on Sensex.
"Nifty's range of 17500- 18000 is likely to be broken in the next few days. Outcomes of probable Taper timelines, MPC meeting and Q2 results are likely to be market moving. An area of concern is the MPC sounding caution on the inflation front and gradually moving away from accommodative monetary policy. Also the central bank will have to initiate measures to absorb the excess liquidity in the system," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sensex breached 59,700 after the initial minutes of trade while Nifty 50 was above 17,800 as headline indices extend opening gains on Thursday.
RIL’s Reliance Retail Ventures Ltd (RRVL) will launch 7-Eleven convenience stores in India, it said on Thursday. Mukesh Ambani’s company has entered into a master franchise agreement with 7-Eleven, Inc, and the first 7-Eleven store is scheduled to open on Saturday, 9 October 2021, in Andheri East, Mumbai. This will be followed by a rapid rollout in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with. This comes a day after the Future Retail and Texas-based convenience store chain, 7-Eleven decided to mutually terminate their franchise agreement as the Kishore Biyani company failed to meet the target of opening stores and payment of franchise fees.
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Domestic benchmark indices started the day’s trade with gains amid positive global cues. Broader markets were trading in the positive territory. Bank Nifty was above 37,800 while India VIX was down 6%.
Technically, index strike wise PCR OI of 17700 fell to 0.80, indicating call writing. In fact, fresh call writing was seen at strike price 17800 with 27 lakh shares, which means short-covering in index above 17830 levels . Buildup of OI was seen in the 17600 put. Combined with a fall in the option price, it indicates that put writing has happened at these strikes implying immediate support at these levels for the near term. So,further upsides are likely once the immediate resistances of 17830 are taken out.
In the coming session, the trading spot band is between 17570 and 17830,which means further upsides are likely once the immediate resistances of 17830 are taken out and weakness could emerge if the supports of 17570 are broken.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
Sensex was above 59,600 at the end of the pre-open session while Nifty 50 regained 17,800.
Reliance Retail Ventures Limited, through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, for the launch of 7-Eleven convenience stores in India. The first 7-Eleven store is set to open on Saturday, October 9 in Andheri East, Mumbai. This will be followed by a rapid rollout in key neighbourhoods and commercial areas, across the Greater Mumbai cluster to start with.
Sensex extended pre-open gains to breach 59,600 once again. Nifty was comfortably above 17,700.
Sensex was above 59,500 during the pre-open session on Monday while Nifty regained 17,700 amid positive global cues.
Nifty's range of 17500- 18000 is likely to be broken in the next few days. Outcomes of probable Taper timelines, MPC meeting and Q2 results are likely to be market moving. An area of concern is the MPC sounding caution on the inflation front and gradually moving away from accommodative monetary policy. Also, the central bank will have to initiate measures to absorb the excess liquidity in the system. Globally, the Fed's communication on the Taper timeline, which in turn will be influenced by the non-farm payrolls data, will be keenly watched by the markets. While the bears swear by the elevated valuations in the markets, the bulls are optimistic about the prospects of steady rise in corporate earnings for the next 3 to 4 years. Only time can give the final verdict. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Reliance Retail Ventures Limited (RRVL), through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. (SEI) for the launch of 7-Eleven convenience stores in India. The first 7-Eleven store is set to open on Saturday, October 9 in Andheri East, Mumbai. This will be followed by a rapid rollout in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Price of petrol and diesel were hiked by oil marketing companies for the day straight on Thursday, taking fuel rates to record highs as crude oil prices jump. Petrol in the national capital today costs Rs 103.24 per litre, up 30 paise since yesterday while diesel in the capital city is retailing at Rs 91.77 per litre, an increase of 35 paise. Petrol and diesel rates have increased 5 times so far in October. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
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Indian share market benchmarks BSE Sensex and Nifty 50 were set to open in positive territory on Thursday, a day of weekly F&O expiry, following a one-day blip. Market participants will focus on weekly F&O expiry, oil prices, rupee’s trajectory, stock-specific action, and the ongoing RBI policy meet. Asian stock markets were trading strong on Thursday, with Hong Kong’s Hang Seng leading the gains. While mainland China stock markets remain closed on Thursday for the holidays. Analysts say even if the global markets show some recovery, Nifty could after a small recovery again run into profit-taking.
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BSE Sensex and Nifty 50 were trading with nearly one per cent or 138.50 points gain at 17767 on Singaporean Exchange, on the day of weekly F&O expiry. In the previous session, investors became poorer by Rs 2,57,785.17 crore as headline came under heavy sell-off tracking weak global market. Investors will keenly watch the Reserve Bank of India’s three-day policy meeting, which began on Wednesday.
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Atul Limited, Birlasoft Limited, Chambal Fertilizers & Chemicals Limited, Firstsource Solutions Limited, Gujarat State Petronet Limited, Laurus Labs Limited, SBI Cards and Payment Services Limited, and Whirlpool of India Limited have been added to the F&O segment.