Sensex slides 238 pts, Nifty below 19,100; pvt banks, Airtel, RIL weigh

Closing Bell on Tuesday, October 31: The broader markets saw some action with the BSE MidCap index rising 0.29 per cent and the BSE SmallCap index 0.02 per cent

4:06 PM

Tech View :: Key levels on Nifty, Bank Nifty to watch out

Nifty 50
The index is trading within a wide range bound by 18,900 and 19,250, and a breakout in either direction is likely to trigger trending moves. The broader trend remains negative, and only a close above 19,300 would signal a resumption of the uptrend.

Bank Nifty
The confirmed upside resistance for the index is now at 43,500, and until there is a closing breakthrough beyond this level, the overall trend remains negative.

On the downside, the index has support at 42,400, and a breach below this level may intensify selling pressure, potentially driving the index towards the 41,500-41,000 range.

Views by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities

4:01 PM

Tech View :: 'Ongoing pullback has matured; fresh weakness to resume'

Nifty50
On the daily charts, we can observe that Nifty has faced resistance at the 19,160 – 19,220 zone. Now, until today’s high of 19,234 is not taken out, we can expect the Nifty to trade with a negative bias.

The hourly momentum indicator has a triggered a negative crossover from above the equilibrium line indicating that the pullback has matured, and a new cycle has begun.

The fall shall intensify once the low of 18,940 is breached on the downside, and should also be used as a stopples for the long positions. Overall, the pullback seems to have hit hurdles and now the next leg of the fall may resume.

 

Nifty Bank

The relief rally is likely to be over as the hourly momentum indicator has triggered a negative crossover from above the equilibrium line indicating that it has started a new cycle which can lead to a slide in the Bank Nifty till 42,400 and below that till 42,000.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:57 PM

Comment :: Why did mid- smallcaps outperform today?

Modest cautiousness returned post yesterday’s bounce, ahead of the US Fed policy meeting, dragging Asian and Developed markets.

Main indices witnessed marginal losses particularly led by IT stocks, while mid- & small-caps gained due to the recent moderation in valuations and buy-in dip strategy of domestic investors on the hope of pickup in demand in the upcoming festive season.

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

3:55 PM

Currency check :: Rupee ends flat at 83.26/$

3:53 PM

IPO Update :: Mamaearth issue subscribed 12% till 3:30 PM on day 1

3:50 PM

Emkay Global soars 15% on solid Q2

>> In Q2FY24, the company reported a consolidated profit after tax (PAT) of Rs 9.69 crore against a loss of Rs 1.78 crore in the previous quarter. It had posted PAT of Rs 6.15 crore in the year ago quarter.

>> The company’s consolidated revenue rose 39 per cent quarter-on-quarter (QoQ) and 35 per cent year-on-year (YoY) to Rs 78 crore. Total assets increased by 29 per cent YoY at Rs 27,546 crore.
 

3:48 PM

Buzzing stock :: Apollo Micro zooms 20%, hits record high on heavy volumes

3:45 PM

Broader markets end mixed; MidCap index rises 0.3%

3:44 PM

Sector check :: Nifty Bank index slips half a per cent

3:43 PM

Sector check :: 11 of 15 Nifty Auto stocks in slow lane

3:41 PM

Sectoral trends :: Bank, Auto indices end lower; Realty surges

3:40 PM

Sensex Heatmap :: 13 stocks end lower; Sun Pharma, Airtel, ICICI Bank worst hit

3:38 PM

Closing Bell :: Nifty ends below 19,100

3:37 PM

Closing Bell :: Sensex falls sharply in fag-end, slips over 200 pts

3:28 PM

BFSI Summit LIVE | Boards of PSBs now understand micros, macros very well, says CS Shetty

>> There is better risk assessment by PSBs, says C S Setty, Managing Director, State Bank of India

3:27 PM

BFSI Summit LIVE | Every PSU bank's balance sheet is cleaned well, says KS Raju

>> The profits have come after 7-8 yrs of hard work. Operating profits have been growing very well 

>> Views by: K Satyanarayana Raju, MD & CEO, Canara Bank

3:24 PM

Indian Oil posts Q2 profit vs yr-ago loss on strong refining margins

Indian Oil Corp Ltd (IOC) reported a profit for the second-quarter on Tuesday, compared to a loss year ago, as the country's top refiner benefited from higher refining margins. READ MORE

3:15 PM

Analysts flag caution on Mamaearth IPO: Here's why

The valuation seems ‘unusually elevated’, considering the risks and lack of sustainable profitability, he adds. At the price band of Rs 308-324, the company is valued between Rs 9,900 crore to Rs 10,400 crore, significantly lower than the firm's earlier valuation ask of up to Rs 20,000 crore. READ MORE

3:03 PM

BFSI Summit LIVE | Competition is on deposits and not on asset size, says AU SFB's Agarwal

AU SFB's CEO Sanjay Agarwal says that the competition between banks is on deposits and not on the asset size. 

2:51 PM

BS BFSI Summit 2023: Professionally run mfg cos to drive PE growth in India

Over the next 20 years, two key trends will prevail in the Indian corporate sector as professionally-run firms and evolving Indian manufacturing will take centre stage, Amit Chandra, Partner Private Equity, Bain Capital said. "Currently, not all our engines are firing effectively; specifically, it's the export-oriented ones that are underperforming," said Chandra. READ MORE

2:40 PM

BFSI Summit LIVE | To apply for universal bank license once reverse merger completes, says Ujjivan SFB CEO

2:30 PM

IPO Update :: Mamaearth issue subscribed 5% so far on day 1

>> Employee portion subscrubed 1.7x

2:20 PM

Apollo Micro hits new high on heavy volumes; stock zooms 34% in 5 days

In the past five trading days, the stock soared 34% after the company entered into Term Loan (TL) Agreement with Bajaj Finance to avail credit facilities in the form of TL up to Rs 15 crore. READ MORE

2:12 PM

ALERT:: US stock futures timid a day after robust rally

Source: Investing.com

2:04 PM

BS BFSI Summit 2023: 'Technology creating watershed moment in insurance'

IRDAI's chairperson Debasish Panda said there is a need for regulators to embrace innovation and make consumer-centric policies. READ MORE

1:56 PM

ALERT:: NIIT Q2 net soars 5-fold QoQ; stock zooms 7%

NIIT today reported near 5-fold jump in Q2 consolidated net at Rs 10.60 crore for the quarter ended September 2023 when compared with Rs 2.20 crore in the preceeding quarter (Q1). Revenue rose 30 per cent QoQ to Rs 81.40 crore from Rs 62.50 crore.

1:49 PM

NLC's Rs 4,400-cr lignite-to-methanol project to be completed by Mar 2027; stock trades flat

The lignite-to-methanol project of NLC India Ltd, estimated at Rs 4,394 crore, at Neyveli, in Tamil Nadu is likely to be completed by March, 2027. READ MORE

1:39 PM

Q3 gold demand up 10%; price to play key role in Dhanteras buying

Trade feedback is that consumers have accepted the Rs 60,000 per ten-gram price point, so a downward correction could trigger a significant jump in demand. READ MORE

1:29 PM

L&T bags ultra mega offshore project worth Rs 15k cr in Middle East

The scope of work includes procurement and construction for a gas processing plant, consisting of inlet separation facilities and booster compression system. READ MORE

1:22 PM

Healthcare and pharma sector sees surge in high-value deals: Report

The pharma and healthcare sector witnessed a decline in deal volumes in Q3 2023, with 26 deals totalling $2.7 billion, down 32 per cent from the same period in 2022 according to the Grant Thornton Bharat Pharma and Healthcare Dealtracker Report. READ MORE