Sensex gyrates 537 points, ends 152 pts down; Nifty PSU Bank index rises 4%

CLOSING BELL: The Nifty50, meanwhile, shut shop at 18,157, down 46 points or 0.25 per cent

4:20 PM

Tech view: Markets may turn volatile; 18,300 a key level for the Nifty

"The Nifty remained volatile with a predominant bearishness on Wednesday's trading. On the higher end, the headline index has found resistance around 18,300. The overall trend is expected to remain volatile as long as it remains below 18,300. A decisive move above 18,300 may induce a rally towards 18,600. However, failure to move beyond 18,300 may trigger further profit taking. On the lower end, support is pegged at 18,000; below which the index may extend its loss towards 17,700."

 

- Rupak De, Senior Technical Analyst at LKP Securities

 

4:18 PM

COMMENT:: All eyes on US CPI inflation to be released on Thursday

"Continued FII inflows, combined with a consolidation in the dollar index, boosted market sentiment. A major next trigger could be the US CPI inflation, to be announced tomorrow, consensus indicate a moderation to 7.9 per cent in October compared to 8.2 per cent in September. A fast slowdown in inflation would provide the fuel for the market to edge higher, the key problem of 2022."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:16 PM

COMMENT:: PSU Banks likely to perform well in mid-run; BoB, Canara Bank top picks

"PSU banks were trading at an inexpensive valuation for a long time. The lower growth capital and legacy NPAs were the reason for underperformance. However, the concern of asset quality and growth are way behind. The large public banks have delivered strong growth and improvement in credit quality. Therefore, PSU banks are likely to perform well in mid-run. Bank of Baroda, Canara Bank are top picks in PSU space."

 

- Ajit Kabi, Banking Analyst at LKP Securities

 

4:07 PM

Primary Market Update:: Tepid openings for Five Star, Archean Chemical

Five Star Business IPO subscribed merely 0.01 times on Day 1

 

Archean Chemical subscribed 0.19 times on Day 1

 

(Data as of 4 PM)

4:04 PM

Hindalco drops 5% as arm Novelis Q2 profit slides 23% YoY; Ebitda down 8%

As per reports, Novelis also lowered its capital expenditure (capex) outlook for FY23 to a range of $900 million- $1 billion from the previously guided $1.3-1.6 billion. READ MORE

4:02 PM

Nykaa to turn ex-date on Thursday for 5:1 bonus issue; stock tanks 5%

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. READ MORE

4:01 PM

Brokerages downgrade Divi's Labs post Q2 letdown; stock falls 11% in 2 days

Analysts at ICICI Securities downgrade the stock from 'BUY' to 'HOLD' as the brokerage firm said it will keep tab on future custom synthesis ex-Covid opportunities and execution besides steady generics traction. READ MORE

4:00 PM

PI Industries zooms 10%, hits all-time high on strong Q2 revenue growth

Analysts believe overall growth was mainly led by volume scale up and price hike while favourable product mix and currencies would also have contributed to growth. READ MORE

3:55 PM

BSE 500:: Indigo Paints, Avanti Feeds among volume shockers

Indigo Paints witnessed unusually high volume of around 19.15 lakh shares, owing to a block deal, as against its five-day average volume of around 13,850-odd shares on the BSE. Similarly, Avanti Feeds, Privi Speciality, Sundaram Clayton and Jubilant Foodworks witnessed a significant spike in volume on Wednesday.

3:51 PM

Market breadth was almost neutral; 188 stocks hit new 52-week high on BSE

3:50 PM

Nifty PSU Bank Index soars 4%; Union Bank zooms 10%, Bank of India 9%

3:48 PM

Rupee ends stronger at 81.43, gains 48 paise v/s US$

Source: Bloomberg

3:45 PM

Broader indices also end in red, down up to 0.5%

3:43 PM

Nifty 50 Losers:: Hindalco, PowerGrid Corporation drop over 4%

3:42 PM

Nifty 50 Gainers:: Adani Ports, Coal India, ITC gain over 2%

3:40 PM

Sensex 30 Heatmap:: 23 Losers v/s 7 Gainers

3:38 PM

NSE Nifty50 slips 46 pts, settles at 18,157

3:35 PM

Closing Bell:: Sensex ends 152 pts lower at 61,034

3:23 PM

Global Check:: US, UK stocks futures in red ahead of US midterm election results

Source: Investing.com

3:14 PM

Ceat surges 16% from day's low post Q2 results; MRF sags 8% on muted Q2

Going forward, the management of Ceat expects the second half of this year to be better in terms of revenue and margins because of improving domestic demand and stabilising commodity prices. READ MORE

 

3:00 PM

BSE 500:: Top Losers so far

Dr Lal Pathlabs down almost 8 per cent was the top loser among the BSE 500 stocks. Privi Speciality, Suven Pharma, Jubilant Foodworks and MRF were the other prominent losers, down over 6 per cent each.

2:49 PM

BSE 500:: Top gainers so far

PI Industries up 11.4 per cent was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by Punjab National Bank, Union Bank, Bank of India and IDBI Bank, up 6 - 8 per cent each.

2:39 PM

Market Check:: Broader indices also tepid, down up to 0.3%

2:32 PM

Amazon, TVS Motor announce arrangement to scale up EV deployment

Amazon India and TVS Motor Company on Wednesday announced an arrangement that will deploy the vehicle maker's electric two- and three-wheelers for the e-commerce firm’s last-mile deliveries. READ MORE

2:20 PM

Nykaa to turn ex-date on Thursday for 5:1 bonus issue; stock sheds 4%

Shares of FSN E-Commerce Ventures (Nykaa) slipped 4 per cent to Rs 1,091 on the BSE in Wednesday’s intra-day ahead of the record date for its 5:1 bonus share issue i.e. five bonus shares for every one share held in the company. READ MORE

2:11 PM

Earnings Alert: Wonderla Holidays reports Q2 turnaround; stock down 2%

Wonderla Holidays today reported a net profit of Rs 10.53 crore for Q2FY23 as against a net loss of Rs 9.28 crore in Q2FY22. Total income soared 280.6 per cent YoY to Rs 69.73 crore.

2:02 PM

US midterms: Even without a red wave, this could now be Weimar America

Having ridden to popularity on Trump's coattails, most will support The Donald in his expected rematch against President Joe Biden in two years. READ MORE

1:53 PM

Sensex 30 Heatmap:: ITC, IndusInd Bank shine; PowerGrid, NTPC whine

1:43 PM

Global Check:: Mixed day for Asiam markets; Hang Seng slips 1.7%

Source: Yahoo Finance

1:34 PM

Five Star Business Finance IPO kicks off: Should you subscribe?

According to IPO watch, shares of Five-Star Business Finance traded at Rs 484 apiece on the upper price band in the grey market, higher by 2 per cent. READ MORE