Sensex snaps 4-day losing streak, ends 534 pts up; Nifty tad below 17,700

Stock market LIVE: Sectorally, all the indices were in the green, led by the Nifty Realty index (up 3.5 per cent)

3:57 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with good gap & managed to hold its bullish stream throughout the day with given close at 17691 with gains of nearly one percent and formed a bullish candle on the daily chart. The index has seen a good pull back from its support zone of 17450 zone & now going forwards 17650-17600 will be immediate support zone if managed to hold above-said levels we may see the index to touch its immediate hurdle zone of 17760-17830 zone, again overall range is coming in between 17300-18000 zone either side breakout will decide the final direction.

3:57 PM

MARKET QUOTE :: S Ranganathan, Head of Research at LKP Securities

As we approach the earnings season, Indices remained buoyant through the day led by the Metals & PSU names with the market breadth exhibiting positive momentum across Midcaps & Small-Caps. Privatisation hopes on few Metal names fuelled a 3% Upmove today on the Metal Index even as select Pharmaceutical & Speciality Chemical stocks had good buying interest today. This month is likely to witness almost a dozen companies going public aiming to mop up over Rs 200bn.

 

3:56 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

After a week-long consolidation, the Indian market is back in action despite unfavourable global sentiments. The momentum is driven by the expectation of better Q2 earnings backed by recovery in economic activity, second wave fallout not being severe and in anticipation of a better outlook from festival demand. The IT sector was under consolidation before the start of quarterly results, which has led to a marginal uptick as major companies are scheduled to announce their results, which can emerge as an opportunity if the results are in line with the robust outlook. RBI Monetary Policy Meeting is another key event that is being keenly watched by the market which is expecting no change instance.

 

3:56 PM

Patel Engineering resumes gains, rallies 20%

>> The stock rose after a one-day hiatus, rising for the 5th day in last 6 days

>> The company had bagged Rs 1251 crore order on Sept 27

3:53 PM

Tata Motors gains nearly 3% on business recovery hopes

3:52 PM

In sweet spot :: Sugar companies rally up to 8%

3:51 PM

Adani Green Energy gains 2% on acquiring SB Energy Holdings

>> Adani Green Energy Ltd (AGEL) successfully completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal for which definitive agreements were signed on 18 May 2021.

>> The transaction pegs SB Energy India at an enterprise valuation of USD 3.5 Bn (~Rs. 26,000 Cr) and marks the largest acquisition in the renewable energy sector in India. 

3:46 PM

India VIX ease nearly 3%

> VIX or the volatility indicator cools 2.76% to 16.73

3:45 PM

Advance-decline ratio at nearly 2:1

3:44 PM

Sector Watch :: All sectoral indices on NSE ended in the green

3:42 PM

Broader markets outperform benchmark

3:38 PM

Top Sensex contributors today: RIL, Infy, ICICI Bank

3:37 PM

Sensex Heatmap | Top gainers & losers at close

3:34 PM

CLOSING ALERT :: Nifty50 ends near 17,700

3:33 PM

CLOSING BELL :: Sensex snaps 4-day losing run, rises 534 points

3:29 PM

ZEE-Invesco Case | Invesco Counsel

>> Zee's argument on EGM requisition being in non-compliance with SEBI regulations are irrelevant
 

>> Company has to take approval from Ministry of Information & Broadcasting, not shareholders

Source: TV reports

3:17 PM

ZEE-Invesco Case | Invesco says

>> NCLT must make a mandatory order on EGM being called
 

>> Appoint a retired judge of High Court to chair the EGM
 

>> Not concerned with outcome of EGM, only about the EGM being called
 

>> Zee won't give contacts of retail shareholders required to call EGM

 

Source: TV reports

 

3:15 PM

Sector Watch :: Sudden uptick in Metal Index, hits 2-week high

3:12 PM

JK Lakshmi Cement's dispatches stopped from Durg unit on strike by Chhattisgarh Cement Transport Association

>> Industry wide negotiations are being held with state government and the company hopeful of an amicable solution shortly

3:00 PM

Dalal Street witnesses a broad-based market rally

Today's market rally has been very broad based with advancing shares out-numbering declining stocks in the ratio of 2.5:1. Further, as many as 303 stocks registered a fresh 52-week high in trade on the BSE, while 535 stocks hit the respective upper limits. (Source: BSE)

2:43 PM

European markets marginally in red in early trades on Monday

The benchmark FTSE 100 index declined 0.2 per cent, while the other two major indices of Germany and France, DAX 30 and CAC 40 were down 0.5 per cent and 0.6 per cent respectively. (Source: Yahoo Finance)

2:27 PM

India's gold imports surge nearly 8 times in September as prices drop

India's gold imports in September soared 658% from last year's lower base as a correction in local prices to the lowest level in nearly six months prompted jewellers to step up purchases for the upcoming festive season, a government source said.

 

India imported 91 tonnes of gold in September, compared to 12 tonnes a year earlier, the source said on Monday on condition of anonymity as he is not authorised to speak to media. In value terms, September imports surged to $5.1 billion from $601 million a year ago, he said.

 

 

Source: Reuters

2:20 PM

This recently listed specialty chemicals has zoomed 144% in 28 trading days

Shares of Meghmani Finechem were locked at the 10 per cent upper circuit at Rs 943.35 on the BSE on Monday on back of heavy volumes with only buyers at the counter. The stock of specialty chemicals was trading at its highest level since its market debut on August 18, 2021. Since listing, in past 28 trading days, the stock zoomed 144 per cent from its opening level price of Rs 386.25 on the BSE. READ MORE 

2:10 PM

Sensex heatmap | Top gainers & losers at this hour

1:59 PM

OPEC+ seen keeping oil output policy unchanged, OPEC+ sources say

OPEC and its allies are likely to stick to their existing agreement to add 400,000 barrels per day (bpd) of oil to the market in November, three OPEC+ sources said on Monday, despite pressure from consumers to cool a red hot market. Ministers from The Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, are due to gather online at 1300 GMT. An OPEC+ ministerial panel that monitors market developments, known as JMMC, meets before that. The price of benchmark Brent crude surged above $80 per barrel last month and was trading close to those highs on Monday at about $79, pushed up by supply disruptions and surging demand as the global economy recovers from the COVID-19 pandemic.

 

Source: Reuters

 

1:55 PM

Sensex contirbutors: RIL, Infosys, ICICI Bank, TCS

1:44 PM

NTPC, Tata Power: Power sector stocks rally makes analysts cautious

The sharp rally in power sector stocks over the past few weeks has made analysts cautious on this space, who suggest fresh investment in these counters be made from a two-three year horizon. In the past one month, the S&P BSE Power Index has gained over 6 per cent, outperforming the S&P BSE Sensex that has moved up around 1 per cent. READ MORE

1:36 PM

Sector Watch :: Nifty Realty up over 3% led by Godrej Properties, Brigade Enterprises

1:22 PM

Tata Motors up 3%, inches towards 52-week high on hopes of biz recovery

In the past one month, Tata Motors has outperformed the market by gaining 16 per cent, as compared to 2 per cent rise in the S&P BSE Sensex and 5.5 per cent up in the S&P BSE Auto sector index. However, on a three-month perdio, the stock has declined 1 per cent, as against 13 per cent rally in the benchmark index. READ MORE

1:01 PM

Max Health to set up over 1,000 hospital beds in Gurugram

>> Company to buy two parcels of land measuring  5.26 and 6.11 acres in Gurugram
 

>> This will significantly ramp up its existing footprint in NCR region and help serve the healthcare needs of ever-expanding communities in Gurugram
 

>> The hospitals, once operational, will also cater to economically weaker section of the society at concessional rates