Sensex falls 171 pts, Nifty holds 18,300; Dr.Reddy's down 4%, LIC jumps 6%

CLOSING BELL: The key benchmark indices gyrated in a narrow trading band on Monday, before settling with losses as FMCG stocks slipped.

4:12 PM

COMMENT :: 'Utilise intermediate pauses to gradually add top performers from across sectors'

Markets started the week on a muted note and ended almost unchanged, taking a breather after the recent surge. After the initial uptick, the Nifty index hovered in a narrow band and finally settled around the day’s low to close at 18,332 levels. 
 

Though we’re just inches away from the record high, the absence of momentum is keeping the participants, especially traders, on their toes. Besides, the lack of broader participation is further adding to their worries. Amid all, we reiterate our view to focus on identifying the top performers from across sectors and utilise intermediate pauses & dips to add them gradually. 

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

 

4:05 PM

TECH VIEW :: Nifty faces resistance at 18,450; support at 18,250

Nifty remained sideways during the session as it failed to give any directional breakout. On the daily chart, the index has sustained above the 50 EMA (17,619), which confirms the positive trend. The momentum indicator is in positive crossover and rising. The trend for the short term looks positive. On the higher end, resistance is visible at 18,450-18,500. On the lower end, support is visible at 18,250.

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

3:59 PM

MARKET COMMENT :: What put a lid on gains on Monday?

Although there were favourable domestic indicators, the market was under pressure due to weakness in the US and other Asian markets. India's wholesale inflation dropped below forecasts, aided by a slowdown in the prices of manufactured goods and fuel & electricity. The domestic CPI, which is anticipated to continue the trend, will boost confidence in the Indian market as it will lessen the risk indicators for the RBI to maintain its hawkish stance.

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

3:57 PM

Bond market :: Yields on 10-year G-Sec ease ahead of CPI inflation data

>> WPI inflation for October, earlier today, came in lower at 8.39 per cent vs 10.7 per cent MoM, and estimate of 8.44 per cent 

3:56 PM

Currency check :: Rupee ends weaker at 81.26/$

>> This compares with Friday's close of 80.80/$

Source: Bloomberg

3:54 PM

IPO Update :: Keystone Realtors off to a slow start

3:52 PM

IPO Update :: Inox Green's offer subscribed 70% till 3:30 PM on day 1

3:51 PM

IPO Update :: Kaynes Tech issue subscribed 33x till 3:30 PM on final day of the offer

>> Employee portion subscribed: 9.3x

>> Retail investors: 3.6x

>> QIB: 98.5x

>> Bidding closes at 5 PM

3:48 PM

Buzzing stock :: Manappuram Finance gains 7% on heavy volume

3:47 PM

Buzzing stock :: Force Motors surges 7% on solid Q2 results

3:45 PM

Buzzing stock :: Cochin Shipyard extends gains on healthy order book

3:44 PM

Buzzing stock :: Fiem Industries rallies 11%, hits new high in a weak market

3:43 PM

Buzzing stock :: LIC ends 6% higher as Q2 earnings see multi-fold rise

3:41 PM

SmalCap index heatmap :: Chemcon Specialty Chemicals drops 18%, Shakti Pumps 15%

3:40 PM

MidCap index heatmap :: Exide Ind, Ramco Cement surge over 4% each; Sun TV slides

3:38 PM

Broader market check :: Midcap Index ends flat; SmallCap adds 0.25%

3:37 PM

Sectoral trends :: Media, FMCG indices slump; Metals outshine

3:36 PM

Sensex Heatmap :: Dr Reddy's, ITC, HUL end as top laggards; PowerGrid, IndusInd Bank surge

3:34 PM

CLOSING BELL :: Nifty ends below 18,350

3:33 PM

CLOSING BELL :: Sensex falls 171 pts after range-bound trade

3:21 PM

Auto component suppliers to log 8-10% revenue growth this fiscal: ICRA

"Domestic original equipment manufacturer (OEM) demand constitutes almost 50 per cent of sales for the Indian auto component industry. This is likely to remain healthy in FY2023, with double-digit growth expected in both passenger vehicle and commercial vehicle segments," said Vinutaa S, Vice President and Sector Head at ICRA. READ MORE

3:11 PM

Global Check:: US stock futures in red; Nasdaq down nearly 1%

Source: Investing.com

3:02 PM

Ambuja Cements rallies 5%, hits all-time high in a range-bound market

Shares of Ambuja Cements hit an all-time high of Rs 586 as they rallied 5 per cent on the BSE in Monday's intra-day, in an otherwise range-bound market. The stock of the Adani Group Company surpassed its previous high of Rs 585.45, touched on September 20, 2022. READ MORE

2:53 PM

Earnings Alert: Grasim reports highest-ever PAT at Rs 1,052 cr; stock up 2%

Grasim on Monday reported a 11 per cent YoY growth in Q2 standalone net at Rs 1,052 crore on the back of 37 per cent YoY surge in revenue to Rs 6,745 crore. Consolidated revenue was up 22 per cent YoY at Rs 27,486 crore.

2:43 PM

BSE 500:: Emami, Infosys, HDFC among volume shockers

Emami witnessed unusually high volume of around 2.54 lakh shares so far as against its five-day average volume of around 5,000-odd shares on the BSE. Similarly, CSB Bank, Infosys, Kajaria Ceramics and HDFC saw a significant spike in volume in trades today.

2:33 PM

BSE 500:: Stocks recovering smartly from the lows of the day

Trident has surged nearly 15 per cent from its lows of the day so far on Monday. Similarly, Krishna Institute of Medical Sciences (KIMS), Medplus Health, Jyothy Labs and Manappuram Finance were some of the other prominent movers among the BSE 500 stocks.

2:23 PM

Deal activity has spiked in India despite global issues: Goldman Sachs MDs

In a Q&A, Rajat Sood and Som Krishna say their company isn't absolutely return-focused, but is a relative value investor that is looking out for bogh buyouts and minority stakes. READ MORE

2:13 PM

BSE 500:: Stocks falling notably from the highs of the day

Sun TV Network has shed nearly 8 per cent from its high of the day so far. Medplus Health, Zomato, Astrazeneca Pharma and DCM Shriram were the other prominent stocks to have lost notable ground in intra-day trades on Monday.

1:55 PM

Hospital stocks gain in tepid market; Krishna Institute, Fortis rise up to 11%

Shares of listed hospital companies were in focus on Monday, surging up to 11 per cent on the BSE, in an otherwise subdued market after they reported a strong operational performance in the September quarter (Q2FY23). READ MORE

1:46 PM

Here's why analysts are positive on Keystone Realtors' Rs 635 crore-IPO

Keystone Realtors' (Keystone) Rs 635 crore IPO opened for subscription today. The company, a major real estate developer in the Mumbai Metropolitan Region (MMR), sells properties under the brand name 'Rustomjee'. Analysts are positive on the company's IPO given its asset-light model, strong brand, decent financials and attractive valuation. READ MORE