Share Market Highlights: Sensex ends at 60,821, Nifty closes at 18,114; ITC, Maruti, Infosys top laggards

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Updated: October 22, 2021 4:12:51 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic headline indices closed Friday’s trading session in the red. Bank Nifty ended above 40,300, India VIX gave up 18 levels.

Share Market Today, Share Market LiveIndia VIX closed in red. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets closed with losses for the fourth consecutive trading session on Friday. S&P BSE Sensex fell 101 points to 0.17% to close at 60,821 while NSE Nifty 50 dropped 63 points or 0.35% at 18,114. Bank Nifty continued to outperform, closing above 40,300 on Friday. Midcap and small-cap indices fared worse than largecap peers. HDFC was the top Sensex gainer, jumping 2.25%, followed by Bajaj Auto, IndusInd Bank, and Kotak Mahindra Bank. Reliance Industries closed 0.15% higher ahead of the quarterly results. ITC was the worst performer on Sensex, galling 3.39%, followed by Maruti, and Infosys.

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Highlights

    16:12 (IST)22 Oct 2021
    Sensex ends in red for fourth day running, Nifty support placed at 18,000, expect recovery next week

    Bulls attempted to make a comeback during the early trade on Friday but failed to hold their ground, forcing Dalal Street to close in the red for the fourth day running. S&P BSE Sensex fell 101 points to 0.17% to close at 60,821 while NSE Nifty 50 dropped 63 points or 0.35% to end at 18,114. HDFC was the top Sensex gainer, jumping 2.25%, followed by Bajaj AutoIndusInd Bank, and Kotak Mahindra BankReliance Industries closed 0.15% higher ahead of the quarterly results. ITC was the worst performer on Sensex, galling 3.39%, followed by Maruti, and Infosys. Bank Nifty continued to outperform, closing above 40,300 on Friday. Midcap and small-cap indices fared worse than largecap peers. 

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    15:33 (IST)22 Oct 2021
    CLOSING BELL

    Domestic headline indices closed Friday’s trading session in the red. Bank Nifty ended above 40,300, India VIX gave up 18 levels.

    15:10 (IST)22 Oct 2021
    Sensex, Nifty trim losses

    Sensex and Nifty trimmed losses ahead of the closing bell. Sensex was still below 61,000 while Nifty 50 was hovering around 18,100.

    15:08 (IST)22 Oct 2021
    The best in earning sgrowth and worst in oil spike behind us

    The broadening of earnings reports made investors believe that the best in earnings growth is behind us. At the same time, and on a much shorter time horizon, the spike in energy prices seems to be stalling as well. Earnings and inflation jitters were in focus this week. The broadening of the earnings season, both sector-wise and regionally, confirmed the view that good numbers keep coming in, but most of the acceleration is behind us. On top of that, investors were sniffing around for signs of supply disruptions that would affect the numbers. There the evidence was far from clear cut but rather anecdotal for now. When referring to inflation, the energy space was able to keep prices mostly up, but the speed at which it has done so seems to be stalling as well. Overall, the weighing of earnings reports did not yield much in terms of investment trends, i.e. there was not much of a sector, regional, or style pattern that could be spotted. Also, the next chapter in the Evergrande saga was met with equanimity. In relative performance terms, China equities, US high-yield bonds, and oil led, while Latin American stocks, long-dated corporate bonds, and real estate lagged.

    ~ Christian Gattiker, Head of Research, Julius Baer

     

    14:58 (IST)22 Oct 2021
    Top gainers on Sensex

    HDFC was up 2.22% as the top Sensex gainer on Sensex on Friday, followed by Bajaj Auto, Titan Company Ltd, Axis Bank, and Kotak Mahindra Bank.

    14:48 (IST)22 Oct 2021
    Sectorak watch

    Bank nifty was up 0.76% while the headline indices were down in the red. Nifty Realty, Nifty Financial Services, and Nifty Private Bank were the other indices in the green on NSE.

    14:36 (IST)22 Oct 2021
    Gold price expected to move range-bound, focus on preliminary PMI data from major economies

    Gold bulls witnessed some relief but towards the end of the week, some profit booking was seen amidst positive economic data from the US. Gold did attempt to break the loop at around $1750 and touch the $1800 mark. There were quite a few updates which triggered this move last week, although economic data like CPI, Retail Sales and world economic forecast from IMF took most of the focus. IMF cut global growth forecast by 0.1%, to 5.9%, with that it also showed concerns about the supply chain disruptions and rising inflation pressures which are constraining the global economy’s recovery from the pandemic.

    13:52 (IST)22 Oct 2021
    Inflation, supply chain hiccups hit Wall Street but retail investors remain net buyers of stocks

    As rising costs and supply chain pressures weigh in on stocks on Wall Street, retail investors continue to be major buyers of the dip, said Mike Wilson, chief investment officer and chief U.S. equity strategist for Morgan Stanley. He highlighted that retail investors have continued to pour money into US stock markets, unlike what analysts at Morgan Stanley had believed earlier in September when market correction was taking longer to recover. “Perhaps most importantly for the broader index is the fact that retail continues to be a major buyer of the dip,” he said. Retail participation is high despite the concerns stemming from supply chain pressures and inflation.

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    12:37 (IST)22 Oct 2021
    S&P BSE Realty index up by 2.63%, after correction of 10% in last three days

    "After broader correction in last 3 days, market seeing some fresh buying interest. We have seen a sharp correction in midcaps and small caps while bank nifty has shown strength. S&P BSE Realty index up by 50% within last 3 months and after a small correcting of 10% again S&P BSE Realty index showing the strength. Stock like Godrej Property up by 2.7%, Oberoi Realty up by 3.8%, Sobha developers up by 2%, etc. All the real estate stock showing good strength and good buying opportunity at this level, we expect the S&P BSE Realty index to reclaim its 52-week highs in near terms. We have a buy call on Sobha developers with a target price of 870," said Yash Gupta, Equity Research Analyst, Angel One.

    12:27 (IST)22 Oct 2021
    India VIX in red

    The volatility gauge was still in the red on Friday, giving up 18 levels. Sensex and Nifty were dancing between gains and losses.

    12:26 (IST)22 Oct 2021
    Nifty trades flat again

    Nifty was dancing between gains and losses on Friday. The 50-stock index gave up 18200, trading flat with marginal losses.

    12:20 (IST)22 Oct 2021
    Nykaa IPO opens October 28, firm to raise Rs 630 cr via fresh equity; check grey market premium

    Nykaa, owned by FSN E-Commerce Ventures Ltd, will launch its IPO on Thursday, 28 October 2021. The beauty startup public issue comprises a fresh issue of shares worth Rs 630 crore and an offer-for-sale (OFS) of up to 4.19 crore equity shares by the selling shareholders. The issue will close for subscription on 1 November 2021. The offer includes a reservation of up to 2.5 lakh equity shares for eligible employees. The company, in its red herring prospectus (RHP), said that it may offer a discount of up to 10 per cent of the offer price to the eligible employees bidding in the employee reservation portion. The global coordinators and book running lead managers to the issue include Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India, ICICI Securities, and JM Financial. Link Intime India will be the registrar to the issue.

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    11:42 (IST)22 Oct 2021
    Sensex holds just above 61000

    Sensex was holding just above the 61,000 mark. The index slipped from an intra-day high but was still in the green. 

    11:02 (IST)22 Oct 2021
    IRCTC share price halts free-fall, but high P/E ratio worries investors; stock as expensive as Tesla

    IRCTC share price continues to recover some of the losses recorded earlier this week as it continues to trade in the green for the second day straight. The stock hit an intra-day high of 4,679 per share on Friday. However, IRCTC stock’s very high P/E ratio continues to worry investors. At a trailing P/Diluted EPS of 294x, IRCTC shares trade close to Elon Musk Tesla Inc -- another stock which has repeatedly come under scrutiny for high P/E multiples. IRCTC stock’s forward P/E multiple of 147x too is close to Tesla, according to S&P Capital IQ data. IRCTC’s stock price has nose-dived 29% since the last hour of trade on Tuesday after hitting a market capitalisation of Rs 1 lakh crore. Now the stock trades at Rs 4,750 with a market cap of Rs 71,700 crore.

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    10:51 (IST)22 Oct 2021
    18500 immediate target for Nifty

    "Expect rally to continue in banks with a target of 42,000 (for Bank Nifty) in early November. Nifty expected to shift gears above 18,200 for an immediate target of 18,500," said Rahul Sharma, Director & Head - Research, JM Financial services.

    10:25 (IST)22 Oct 2021
    Rakesh Jhunjhunwala buys more Titan shares first time since December 2019, hikes SAIL stake

    Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have increased their stake in Titan Company Ltd for the first time in nearly seven quarters. According to the latest shareholding pattern of Titan, the Jhunjhunwala’s now hold a combined 4.9% stake in the company after having trimmed it for three consecutive quarters. Further, the big bull has added more of PSU stock Steel Authority of India (SAIL) to his portfolio, buying an additional 0.4% stake. Titan Company’s stock price has jumped 43% since the end of June this year till today, while SAIL has dropped 8% in value.

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    09:47 (IST)22 Oct 2021
    Sensex, Nifty extend gains

    Sensex regained 61,300 during the initial hour of trade on Friday as bulls attempted a comeback. Nifty was nearing 18300.

    09:17 (IST)22 Oct 2021
    OPENING BELL

    Domestic benchmark indices started the day with gains. Broader markets mirror up-move. Bank Nifty was above 40,200.

    09:05 (IST)22 Oct 2021
    D-Street expected to open flat, Nifty resistance at 18500

    "Benchmark Indices are expected to open on a flattish note as suggested by trends on SGX Nifty. US markets closed positive in the previous trading session while major Asian Indices opened in green today. The uptick in crude prices to a three-year high and a lack of positive surprises in the ongoing earnings season is hitting the investor sentiment. We can see some more traction in the renewable sector as the recent reforms and power shortage have supported the rally in power stocks and investors are now focused on the alternatives energy and the recent acquisition by reliance in this segment has added to this momentum. Nykaa is planning to launch its three-day initial public offering (IPO) on October 28 to raise as much as Rs 5,200 crore. On the technical front, Benchmark Indices witnessed a sell off for the third consecutive session. Immediate support and resistance in Nifty 50 are 18,000 and 18,500 respectively," said Mohit Nigam, Head - PMS, Hem Securities.

    09:02 (IST)22 Oct 2021
    Sensex, Nifty trade flat in pre-open

    Sensex was trading flat with positive bias in the pre-open session, touching 61,000 mark while the Nifty 50 was down with marginal losses.

    09:02 (IST)22 Oct 2021
    SGX Nifty up, Q2 results, stocks under F&O ban, Nifty, Bank Nifty view: key things to watch out for

    Ten stocks such as Amara Raja Batteries, Escorts, Vodafone Idea, IRCTC, L&T Finance Holdings, NALCO, Punjab National Bank, SAIL, Sun TV Network and Tata Power were under the F&O ban for 22 October 2021. If the open interest of any stock crosses 95% of the MWPL (market-wide positions limits), all F&O contracts of that stock enter a ban period.

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    08:40 (IST)22 Oct 2021
    Dalal Street ready to resume up-move?

    The short term weakness of the market seems to be ending now. Positive close in the next session could confirm higher bottom formation at Thursday's low of 18048. A sustainable upmove from here could eventually challenge the recent all time high of 18604 levels in the near term. Immediate support is placed around 18150-18050 levels.

    ~ Nagaraj Shetti, Technical Research  Analyst, HDFC Securities

    08:38 (IST)22 Oct 2021
    Reliance, Yes Bank, NTPC, Future Retail, Zee Entertainment, IDBI Bank, HDFC Life stocks in focus

    BSE-listed companies such as HDFC Life Insurance Company, Yes Bank, Apollo PipesBharat SeatsCrompton Greaves Consumer Electricals, Dodla Dairy, Federal Bank, Gland Pharma, Hindustan ZincInox Leisure, Jubilant Pharmova, Kajaria CeramicsKirloskar Ferrous IndustriesKwality PharmaceuticalsMahindra Holidays & Resorts India, Omkar Speciality ChemicalsPolycab India, ABB Power Products and Systems India, PVR, Steel Strips Wheels, Subros, Sundaram-Clayton, Supreme Industries, Tata Consumer Products, Tata Elxsi, and Zenotech Laboratories will release their second quarter earnings on 22 October 2021.

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    08:36 (IST)22 Oct 2021
    Petrol and diesel price October 22: Rates hiked for 3rd day straight; Check price in Delhi, Mumbai here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were hiked for the third consecutive day on Friday by oil marketing companies. Petrol in the national capital today costs Rs 106.89 per litre, up 35 paise from yesterday while Diesel in the capital city is retailing at Rs 95.62 per litre, an increase of 35 paise. Petrol and diesel rates have increased 16 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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    08:22 (IST)22 Oct 2021
    Further upsides likely if Nifty crosses 18400

    The Nifty could immediately trade in a 1.70% range either side from 18200 with a bias on the downside, weekly options data show. The range for the market based on the combined value of the 18200 call and put expiring on October 28 is 17900-18500. The bias, going by the open interest put call ratio of 0.79, is on the downside,indicating traders have sold more call options than puts on the Nifty, expecting the market to decline further and gobbling up the premiums received by selling calls to the option buyers.

    And for the coming session, the trading spot band is between 18000 and 18400,which means further upsides are likely once the immediate resistances of 18400 are taken out and weakness could emerge if the supports of 18000 are broken.

    ~ Raushan Kumar, Derivative Analyst

    08:03 (IST)22 Oct 2021
    Reliance Q2FY22 preview: Retail growth to drive earnings, EBITDA may rise 25%; RIL stock eyes Rs 3000

    Mukesh Ambani’s Reliance Industries Ltd (RIL) is likely to post strong growth in net profit led by a rise in EBITDA in the July-September quarter of FY22. Analysts expect that Reliance will continue the momentum from the previous quarter into the second quarter of the current fiscal. The oil-to-telecom conglomerate has recently announced several acquisitions through subsidiaries, such as a 100% stake in Norway-based solar cell; panel and polysilicon maker REC Solar Holdings for $771 mn; and 25 million euros (USD29 million) stake in Germany’s NexWafe GmbH. On the stock performance front, RIL share price has soared nearly 10 per cent in the last month, 38 per cent in six months, and over 32 per cent in the year so far.

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    07:59 (IST)22 Oct 2021
    SGX Nifty in green

    SGX Nifty was in the green on Friday morning. Nifty futures trading in the green hint at a flat to positive start. 

    07:58 (IST)22 Oct 2021
    PM Modi to address nation at 10AM

    Prime Minister Narendra Modi will address the nation at 10 AM today. The Prime Minister will address the nation a day after India crossed the 100 billion mark in its vaccination drive.

    07:57 (IST)22 Oct 2021
    Bombay High Court asks ZEE to call EGM as sought by Invesco

    The Bombay High Court on Thursday asked Zee Entertainment Enterprises (Zee) to cohttps://www.financialexpress.com/industry/bombay-high-court-asks-zee-to-call-egm-as-sought-by-invesco/2354387/nvene an extraordinary general meeting (EGM), as requisitioned by its single largest investor Invesco Developing Markets Fund. However, the court added that the results of the EGM be kept in “abeyance” till it decides on the legality of the requisition. Further, the EGM should be chaired by a competent person such as a retired high court judge, a senior counsel or someone from the corporate world, the order stated.

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