Sensex zooms 595 pts, Nifty tops 19,400; all but PSBs rally

Closing Bell on November 6, 2023: Among sectors, the Nifty Metal, Pharma, Private Bank, and Realty indices added over 1 per cent each

3:46 PM

Comment :: 'Expect H2FY24 to continue earnings momentum'

Optimism continued as soft US payroll data and expectations of moderation in monetary tightening by the Fed supported the sentiment.

Since most of the headwinds are global in nature, investor sentiment has shifted to domestic-oriented businesses, where festive demand is healthy.

So far, the spread of earnings in Q2 has been decent and brings more attention to capital goods, financials, and auto stocks. We expect H2FY24 will also continue the momentum, however, the tailwinds on margins are likely to moderate due to the recent uptick in commodity prices.

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

3:44 PM

Nifty Heatmap :: 45 of 50 index stocks rally on Monday

3:41 PM

SmallCap Heatmap :: Index outperforms peer slightly, gains 1%; Inox Wind, Apollo Micro lead

3:39 PM

MidCap Heatmap :: Index rises 0.9% led by Aarti Industries, Deepak Nitrite

3:37 PM

CLOSING BELL :: Nifty reclaims 19,400

3:35 PM

CLOSING BELL :: Sensex zooms 595 pts, rallies for 3rd straight day

3:30 PM

Zerodha fixes tech glitch, says affected clients can only exit positions

Around noon, Zerodha said that the issue was resolved and the affected clients could only exit positions.
 

"Due to a technical issue, some of our users faced issues viewing the orderbook, positions, holdings and funds page. This issue is now resolved. As a precautionary measure, affected clients can only exit positions. Trading activity remains unaffected for the rest of our users," the brokerage firm wrote on X.   READ MORE

3:22 PM

Adani vs Hindenburg: Supreme Court to consider plea for listing of PILs

On July 11, The Top Court Had Asked The Securities And Exchange Board Of India (SEBI) About The Status Of Its Ongoing Investigation Into The Allegations Of Stock Price Manipulation By The Adani Group. READ MORE

3:12 PM

ALERT:: BLS International Q2 net jumps 61%; stock gains 2%

BLS International reported a 60.8 per cent surge in Q2 net profit at Rs 82 crore for the quarter ended September 2023 as against Rs 50.99 crore in the corresponding quarter a year ago. Operating reveneu grew 14.3 per cent YoY to Rs 407.74 crore.

3:02 PM

ALERT:: OnMobile Global Q2 consolidated net soars to Rs 8.54 cr; stock surges 5%

OnMobile Global today posted a consolidated net profit of Rs 8.54 crore for the quarter ended September 2023 as against Rs 0.62 crore in the corresponding quarter a year ago. Total income rose 5.1 per cent YoY to Rs 141.94 crore from Rs 135.08 crore.

2:52 PM

Oil at $110 could prompt RBI to hike interest rate again: Morgan Stanley

Morgan Stanley estimates a sustained oil price of $110 a barrel could undermine India’s economic stability, likely forcing the central bank to resume hiking interest rates. READ MORE

2:42 PM

ALERT:: Navneet Education Q2 net slumps 81%; stock tanks 5%

Navneet Education today posted a 81.4 per cent plunge in Q2 net profit to Rs 29.41 crore for the quarter ended September 2023 when compared with Rs 157.90 crore in the corresponding quarter a year ago. Total income slumped 66.5 per cent YoY to Rs 263.75 crore.

2:30 PM

SAIL to increase coking coal purchases from Russia, expects 4 shipments

Australia accounts for more than half of India's coking coal imports of around 70 million metric tonnes a year. India also imports coking coal from Russia and the United States. READ MORE

2:19 PM

ALERT:: Exide Industries Q2 net rises 17%; stock rallies 4%

Exide Industries today reported a 16.5 per cent growth in Q2 net profit to Rs 287 crore for the quarter ended September 2023 when compared with Rs 246.27 crore in the corresponding quarter a year ago. Total income rose 10.1 per cent YoY to Rs 4,145.83 crore.

2:08 PM

JSW Infra hits new high, freezes at 10% upper circuit on strong Q2 results

The stock hit a new high of Rs 188.75 and was trading at 59 per cent premium over its issue price of Rs 119 on the BSE. READ MORE

1:58 PM

ALERT:: Bajaj Electricals Q2 net plunges 48%; stock dips 4%

Bajaj Electricals today reported a 47.7 per cent fall in Q2 net profit to Rs 33.44 crore for the quarter ended September 2023 when compared with Rs 63.90 crore in the corresponding quarter a year ago. Total income was down 1.3 per cent YoY at Rs 1,144.83 crore.

1:47 PM

Fitch upgrades India's mid-term GDP growth forecast to 6.2% from 5.5%

Fitch blamed China for pulling down the estimate of 10 emerging countries to 4 per cent from 4.3 per cent earlier. READ MORE

1:36 PM

Upcoming state elections not much of a worry for markets: Analysts

This, they believe, is because the electorate votes differently in state and general elections. On their part, the markets, they said, are only looking for a stable regime and policy continuity. READ MORE

1:26 PM

ALERT:: Kospi zooms 5.7% post short-sale ban; Nikkei up 2%

Source: Yahoo Finance

1:16 PM

ALERT:: Bharat Forge Q2 net jumps 29%; stock surges 3%

Bharat Forge today posted a 29 per cent surge in Q2 net profit to Rs 345.99 crore for the quarter ended September 2023 when compared with Rs 268.12 crore in the corresponding quarter a year ago. Total income increased 19.9 per cent YoY to Rs 2,291.76 crore.

1:01 PM

Steady NIM, credit costs may drive SBI's re-rating in near-term: Analysts

Worries about the impact of relatively lower capital adequacy levels, comfort of loan mix due to presence of unsecured loans, and NIM contraction cycle have been weighing on the stock. READ MORE

12:49 PM

ALERT:: Divis Labs Q2 net dips 30%; stock up 1%

Divis Labs today reported a 29.8 per cent drop in Q2 net profit to Rs 342 crore for the quarter ended September 2023 when compared with Rs 487 crore in the corresponding quarter a year ago. Total income, however, was up 2.7 per cent YoY at Rs 1,953 crore.

12:39 PM

ALERT:: Thirumalai Chemicals announces temp shutdown of Bharuch unit; stock slips 2%

Phthalic Anhydride, a unit of Thirumalai Chemicals, situated at GIDC Estate, Dahej Phase-II, Tal. Vagra, Bharuch, Gujrat has been shut down temporarily w.e.f 5th November, 2023, the company said in an exchange filing.

12:27 PM

Sebi plans for instant settlement of equity trades in non-disruptive manner

India transitioned to T+1 settlement, where trades are settled within a day, in January. The Sebi now plans to allow instant settlement by October next year as another option. READ MORE

12:15 PM

SBI trades flat; underperforms in a firm market post mixed Q2 earnings

Thus far in the calendar year 2023, the stock has slipped 6 per cent, as against nearly 6 per cent rally in the Sensex. READ MORE

12:02 PM

Explained: India emerges as global leader in the number of IPOs in 2023

The third quarter of 2023 saw a staggering 21 IPOs in the Indian main market, compared to just four in the same quarter of 2022. India has topped the world in terms of the number of initial public off. READ MORE

11:50 AM

ALERT:: Ashok Leyland delivers first-ever LNG-powered haulage truck 'AVTR 1922'; stock up 1%

Ashok Leyland, the flagship Company of the Hinduja Group, today commenced the delivery of India's first LNG-powered haulage truck - AVTR 1922 to Mahanagar Gas Limited in Hosur, the company said in an exchange filing.

 

The company is scheduled to announce its Q2 results later this week.

11:43 AM

Oct auto retail sales dip 8% due to Shraddh period; Navratri sales up 18%

India's automobile retail sales for October registered an 8 per cent decline compared to the same period last year, following a dip in two-wheeler (2W) and passenger vehicles (PV) by 13 per cent and 1.4 per cent, respectively. However, the Navratri period (October 15-24) marked record sales for the sector, posting an 18 per cent increase. READ MORE

11:30 AM

Inox Wind soars 9%, hits 7-year high on Monday; what's driving the rally?

Shares of Inox Wind hit their highest level since July 2016 after its customer, NTPC Renewable Energy, announced the successful commissioning of 50 MW out of 150 MW Dayapar Wind Energy Project

11:17 AM

DLF, Oberoi Realty zoom up to 70% so far in 2023; will the rally last?

Charts suggest that the bias for the realty stocks is likely to remain favourable as long as they hold these key support levels. Read