Dovish Fed unleashes market bulls; Sensex zooms 490 pts, Nifty tops 19,100

Closing Bell on Thursday, November 02: Jerome Powell's comment that "despite elevated inflation, the longer term inflation expectations remain well anchored" was taken by the markets as dovish

4:01 PM

Comment :: 'Domestic macros to support markets'

A pause with dovish commentary from the Fed led to a rebound in the global and domestic market sentiment. Further, the fall in US bond yields indicates a prolonged pause in interest rates hike. And the domestic macros are favourable with positive auto numbers, a surge in GST collection, good factory data and better than estimated Q2 quarter earnings.

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

 

3:57 PM

Comment :: 'Focus on overngiht management'

Participants are taking comfort from the rebound in the global indices, especially the US. However, it is too early to say that we are out of the woods citing multiple hurdles between the 19,200-19,400 zone in Nifty. 

We, thus, reiterate our view to follow stock-specific approach and focus more on overnight risk management.

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking 

 

3:55 PM

Currency check :: Rupee ends 4 paise stronger

3:50 PM

Q2 Earnings :: Tata Motors reports profit of Rs 3,764 crore

>> Co reported loss of Rs 945 crore

>> Consolidated revenue at Rs 1.05 trillion vs Rs 79,611 crore

3:47 PM

IPO Update :: Mamaearth issue subscribed 7.5x; QIB portion at 11.5x

>> NII at 3.9x

>> Retail at 1.13x

>> Employee at 4.6x

3:44 PM

SmallCap Heatmap :: Index up 0.9%; Syrma Tech sinks 12%, Solara Active rallies 15%

3:42 PM

MidCap Mantra :: Index rises 1.2%; Voda, REC, Lodha sprint

3:41 PM

Sectoral trends :: Broad-based rally lifts markets; Realty, PSBs advance

3:38 PM

Sensex Heatmap :: 28 of 30 index stocks rally; IndusInd Bank rises 2%, Tata Steel 1.6%

3:37 PM

CLOSING BELL :: Nifty ends above 19,100

3:36 PM

CLOSING BELL :: Sensex reclaims 64,000, surges 490 pts

3:30 PM

Notable growth in coal sector due to rise in output of fossil fuel: Govt

The latest data indicates that the combined index of eight core industries has shown a noteworthy increase of 8.1 per cent (provisional) in September 2023, compared to the same period in the previous year. On Monday, the government had said that the country's coal production picked up momentum in the latter half of October after unprecedented rains earlier in the month in coal producing states. READ MORE

3:21 PM

Adani Enterprises Q2 result: Net profit falls over 50% to Rs 228 crore

The company's revenue from operations was down 41 per cent to Rs 22,517.33 crore during the quarter as compared to Rs 38,175.23 crore last year. It was also down from Rs 25,438.45 crore in the previous quarter. READ MORE

3:09 PM

Dabur reports Rs 515 crore profit in Q2; stock gains

Dabur reports Rs 515 crore consolidated PAT versus Rs 490 crore last year. 

Revenue Rs 3,203.8 crore versus Rs 2,987 crore a year ago. 

2:58 PM

Mamaearth IPO sails through despite falling GMP, low retail interest

At 2:20 PM, the issue was subscribed 5.6 times (5.6x) with QIB portion seeing subscription of 9.4x, followed by Employee portion at 4.34x. Retail investor portion stood at 91 per cent. Read

2:44 PM

Godrej Properties Q2FY24 result: Net profit at Rs 72 cr; revenue up 107%

The revenue from operations for Q2FY24 came in at Rs 343 crore, compared to Rs 165.09 crore year-on-year. Read

2:33 PM

SmallCap pharma stocks in focus; Bliss GVS, Lincoln, Solara zoom up to 20%

Shares of small-cap pharmaceutical companies were on a roll on Thursdyay, zooming up to 20 per cent on the BSE amid heavy volumes. Read

2:15 PM

Deepak Fertilisers cracks 7% on weak Q2 results

Deepak Fertilisers Q2 net profit down 78% to Rs 60.1 crore vs Rs 272 crore a year ago. 

 

Revenue down 11% YoY to Rs 2,424 cr.
 

Margin at 11.8% vs 18.2% a year ago. 

2:00 PM

Lupin receives approval from the US FDA for its Selexipag for injection

In 2022, sales of the Selexipag Franchise in the US stood at $ 1.1 billion. The sales for January 1 to September 30, 2023, stood at $978 million. Read

1:45 PM

Coal India's supply to thermal power plants rises 11% to 50.8 MT in October

State-owned CIL's coal supply to electricity generating plants rose by 11 per cent to 50.8 MT in October amid higher power demand in the festive month. Read

1:33 PM

Tata Motors to supply, operate 200 e-buses in Srinagar, Jammu for 12 yrs

The company has supplied the first batch of Ultra EV air-conditioned electric buses to Srinagar Smart City Ltd, via TML Smart City Mobility Solutions (J&K) Pvt Ltd. Read

1:15 PM

53% opt for personal loan even before 30, Bengaluru most credit healthy city

A whopping 53% of Indians took their first personal loan before reaching the age of 30, and 22% of the personal loan consumers were under the age of 25. Read

1:04 PM

Lenders prefer salaried individuals with steady income for personal loans

While more than 25% of salaried borrowers have an excellent credit score of 770 and above, only 14% of self-employed consumers have such strong credit score profiles. READ MORE

12:54 PM

Stock of this SME telecom infrastructure company nearly doubles in 5 weeks

Shares of Bondada Engineering were locked in 10-per cent upper circuit after the company received five-year operations and maintenance (O&M) contract worth of Rs 381 crore from BSNL. READ MORE

12:43 PM

Asian Market Update:: Kospi, Taiwan hold strong gains

Source: Yahoo Finance

12:32 PM

M&A activity dips amid geopolitical concerns, only 5 mega deals this year

Rising interest rates, geopolitical tensions, and recession fears have led to a downturn in Mergers and Acquisitions (M&A) activities in the first quarter of 2023, said a Boston Consulting Group report. READ MORE

12:19 PM

Record number of small, medium-sized firms going public in India this year

A record number of small- and medium-sized companies going public amid an equities rally has made India one of the world’s busiest listings markets this year. READ MORE

12:08 PM

REC rallies 9% on highest-ever quarterly profit in Q2; PFC surges 7%

REC in a public statement said the increase in profit was owing to the "improving asset quality, increase in lending rates and effective management of finance cost". READ MORE

11:56 AM

ALERT:: PSP Projects Q2 net soars 72%; stock rallies 4%

PSP Projects Q2 net profit surged 72 per cent to Rs 39.41 crore for the quarter ended September 2023 when compared with Rs 22.92 crore in the quarter a year ago. Total income increased by 68 per cent YoY to Rs 613.18 crore.

11:44 AM

ALERT:: D B Realty inks settlement deal with Reliance Commercials; stock marginally up

The subsidiaries of D B Realty have entered into a Share Purchase Agreement to sell their entire shareholding in equity shares & OCDs in Siddhivinayak Realties to Reliance Commercial Finance (RCFL) for Rs 376.18 crore in order to settle part of the group liabilities given by RCFL to the company.