Sensex rises for 3rd day, up 787 pts; Nifty tops 18K amid broad-based rally

CLOSING BELL: The Financial Services, IT, Pharma, Auto, and Consumer Durable indices gained over 1 per cent each, while others added up to 1 per cent

4:22 PM

MARKET COMMENT :: 'Participants should look for buying opportunities on every dip'

Markets started the week on a robust note and gained over a percent, tracking firm global cues. After the gap-up start, the Nifty hovered in a narrow range for most of the day and buying in the last hour helped the index to reclaim 18,000 levels. Healthy buying was witnessed across sectors while the broader indices continue to trade mix.

 

The buoyancy in the global markets, especially the US, combined with favourable domestic cues is helping the markets to maintain the prevailing recovery. And, we expect the Nifty to regain momentum above the 18,100 level. In line with the trend, participants should look for buying opportunities on every dip and avoid contrarian trades.

Views by: Ajit Mishra, VP - Research, Religare Broking

4:08 PM

JM Financial Mutual Fund launches NFO JM Midcap Fund

>> JM Financial Mutual Fund (JMFMF) has announced the launch of JM Midcap Fund, an open-ended equity scheme predominantly investing in mid cap stocks.

>> The NFO will open for subscription on October 31, 2022 and closes on November 14, 2022.  

4:00 PM

MARKET COMMENT :: The outcome of US Fed, RBI meeting will decidedly affect the stock market trend

The buoyancy of Wall Street was reflected well in the domestic market, also supported by sliding Oil prices following weak Chinese factory data. US stocks recovered from a tech sell-off on hopes that the Fed would hint towards dialling down big interest-rate hikes. The outcome of the Fed & RBI meeting this week will decidedly affect the stock market trend.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:59 PM

Tech View :: Support is visible at 17,850/17,700

The Nifty has moved up after a consolidation breakout on the daily chart, suggesting a rise in optimism. On the daily timeframe, the index has sustained above the crucial moving average, confirming the short term uptrend. Over the short term, the trend may remain positive. On the lower end, support is visible at 17850/17700; resistance on the higher end is placed at 18100/18300.

Views by: Rupak De, Senior Technical Analyst at LKP Securities

3:57 PM

CURRENCY CHECK :: Rupee ends weaker at 82.78/$

>> This is against Friday's close of 82.47/USD 

3:55 PM

Buzzing stocks :: Titan ends off record highs

Shares of Titan Company gained 2 per cent to hit a record high of Rs 2,790 per share in Monday’s intra-day trade, on hopes of strong September quarter (Q2FY23) earnings. The stock has surpassed its previous high of Rs 2,767.55, which it had touched on March 21, 2022. READ MORE
 

3:52 PM

Buzzing stocks :: L&T hits 9-month high ahead of Q2 earnings

Shares of Larsen & Toubro (L&T) edged 2.5 per cent up to hit a nine-month high of Rs 2,024 on the BSE in Monday’s intra-day trade after the engineering & construction company said it won significant orders for its power transmission & distribution business. READ MORE

3:51 PM

Buzzing stocks :: Bandhan Bank hits 10% lower circuit

Shares of Bandhan Bank slipped 10 per cent and hit 10-month low of Rs 244.55 per share in Monday’s intra-day trade after the private sector lender reported a weak operational performance for the quarter ended September 2022 (Q2FY23). The stock traded at its lowest level in calendar year 2022 (CY22). READ MORE

3:50 PM

HDFC twins, Bajaj Finserv lead Financial Services Index

3:49 PM

Auto stocks buzz in trade :: Eicher Motor, M&M, Ashok Leyland rally up to 3%

3:48 PM

BSE SmallCap index :: Underperforms peers; Sportking India, Intellect Design Arena top laggards

3:47 PM

BSE MidCap index :: Max Health, JSW Energy leap up to 6%; index up 1.24%

3:46 PM

Broader market check :: Sea of green across indices

3:41 PM

Sectoral Trends :: All indices end in the positive zone; autos in fast lane

3:38 PM

Sensex Heatmap :: Only 3 stocks sit in red; Ultratech, M&M lead gains

3:35 PM

CLOSING BELL: Markets zoom for 3rd day

>> The S&P BSE Sensex surged 787 points, or 1.3 per cent, to end at 60,747.

>> The Nifty50, meanwhile, shut shop at 18,011, up 225 points or 1.26 per cent.

 

>> In the broader market, the BSE MidCap, and SmallCap indices edged 1.24 per cent, and 0.45 per cent higher, respectively.

 

3:26 PM

CURRENCY COMMENT :: Expect the USD-INR to trade sideway

Rupee fell marginally as the dollar started to recover from its recent lows. Volatility is low ahead of important events that are lined in this week.

 

Fed is expected to raise rates by another 75bps and further hawkish statement could extend gains for greenback.

 

Today focus will be on preliminary CPI number that will be released from EZ. We expect the USDINR(Spot) to trade sideways with a positive bias and quote in the range of 82.20 and 82.80

Views by: Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

3:17 PM

COMMENT :: Indian markets are ready to take-off further

Sensex breached 60K for the 5th time since making its all-time high last year Oct, and for consecutively 3 months in a row. While mostly driven by 2nd quarter results, emboldens domestic investors of key supports just below the 60K levels. On the other hand, it also signifies Indian markets readiness to further take-off once it crosses 60K levels satisfactorily.

Views by: Anmol Das, Head of Research, Teji Mandi

3:05 PM

ALERT :: Nifty reclaims 18,000-mark in intra-day

2:56 PM

European markets open lower as investors eye inflation, GDP data

2:49 PM

L&T hits 9-mth high ahead of Q2 nos; wins significant order in Saudi Arabia

Including today's orders, L&T has won a total of six 'significant' orders in the month of October, it said. Read here

2:39 PM

Listed asset management companies see subdued profit growth in Q2

The brokerage has set a March 2024 target of Rs 2,470 for HDFC AMC and Rs 400 for Nippon India AMC. Read here

                         

2:30 PM

Indian markets straggle behind US and Europe in October, shows data

However, on a YTD basis, the S&P BSE Sensex declined 7%. The Dow fell 9.6%; the Euro Stoxx 50 down 26%. Read here

2:20 PM

ASIA | Hang Seng, mainland China markets close with cuts

2:09 PM

US markets set for a year-end rally despite recession concerns: Chris Wood

A rally in the US markets amid hope of a softer central bank (US Fed) action going ahead, analysts believe, has the potential to fuel a rally in other global equity markets, including India. Read more

1:55 PM

Maruti Suzuki India to recall 9,925 units of Wagon R, Celerio, Ignis

"It is suspected that there is a possible defect in rear brake assembly pin (Part), which in a certain case, may break a nd cause a peculiar noise. There may be a possibility of impact on brake performance in the long run," the company said. READ MORE

1:39 PM

Saudi, UAE back OPEC cuts as US envoy warns of 'economic uncertainty'

Saudi Arabia and the United Arab Emirates defended on Monday a decision by OPEC and its allies to cut oil production, even as an American envoy warned of economic uncertainty ahead for the world. Read more

1:30 PM

Cement shares gain on hopes of demand recovery; UltraTech, Ambuja up 3%

Analysts expect industry margin to bottom out in Q2, with peaking of cost, higher exit of cement prices, and pick-up in construction activity in coming quarters. Read more

1:21 PM

ALERT :: Bikaji Foods IPO

>> Price band at Rs 285-300/sh

>> Issue size is Rs 881 crore

>> IPO will entirely be offer for sale (OFS)
 
>> IPO issue opens on November 3 & closes on November 7

1:14 PM

IPO | DCX Systems offer subscribed 77% so far on day 1