Sensex rises for 2nd day, adds 283 pts; Nifty tops 19,200 in broad rally

Closing Bell on Friday November 03: In the broader markets, the BSE MidCap and SmallCap indices gained 0.71 per cent and 0.94 per cent, respectively

4:08 PM

Tech View :: 'Turn bullish on Nifty if it crosses 19,300'

Nifty50
After a gap up opening Nifty faced resistance around 19,250-19,300 levels, and we can see maximum put writing at 19,200 levels which may act as strong support for Nifty.

We can see maximum open interest in 19,300 call option so, one should only be bullish on Nifty if it closes above its crucial 100 days moving average placed at 19,300.

Bank Nifty

The Bank Nifty index had a strong opening but went into consolidation at higher levels. It encountered difficulty surpassing the immediate resistance level of 43,500, where a significant amount of call writing was observed. The lower-end support for the index is situated at 42,800, and a breach below this level could intensify selling pressure.

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

3:59 PM

Comment :: 'Reiterate a cautious view on Nifty'

Nifty has penetrated the resistance zone after two days of advance and tested the immediate hurdle of 100 EMA around 19,276 as well.

We reiterate a cautious view on the index and suggest awaiting a decisive break above 19,400 for a sustained recovery else the up move would fizzle out.

However, there is no shortage of stock-specific opportunities so traders should maintain their focus on stock selection.

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

3:49 PM

Comment :: 'Optimism is buoyed by firm global clues, steady macro-economic data'

The Indian market is resurging amidst a drop in investors' anxiety as Nifty VIX contracts generously. The optimism is buoyed by firm global clues, steady macro-economic data and strong domestic corporate earnings.

While the ongoing Q2 results explore healthy expansion in Indian operating margin, leading to a strong bounce in earnings growth.

In the midst of the earnings season, large cap companies indicate a solid 40% growth in PAT on a YoY basis. And moderation in global inflation and steady domestic and external demand is lifting H2 corporate earnings outlook.

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

3:47 PM

Currency check :: Rupee ends 3 paise weaker at 83.28/$

3:43 PM

SmallCap index ends nearly 1% higher; Tilaknagar Industries, Den Networks soar

3:41 PM

MidCap index outshines benchmarks, rises 0.7%

3:40 PM

Sectoral trends :: Broad-based gains sweeps markets for second day

3:39 PM

Sensex Heatmap :: Titan, Tech M, Tata Motors lead index rally

3:36 PM

Closing Bell :: Nifty tops 19,200

3:35 PM

Closing Bell :: Sensex rises nearly 300 pts

3:27 PM

Titan Company Q2FY24 result: Net profit at Rs 916 cr; income up 37%

C K Venkataraman, managing director, Titan Company, said, "All our consumer businesses achieved healthy growth for the quarter. The watches and wearables business crossed quarterly revenues of over 1,000 crore, an important milestone in their journey. The jewellery business continued to shine well growing nearly 27 per cent in consumer sales over last year. The store expansions in key markets are progressing well. We retain our focus on improving market share by offering differentiated products to our consumers touching their everyday lives in a meaningful way. The festive season in Q3 has started well and we are optimistic for our performance in the rest of the financial year." READ MORE

3:17 PM

Global Check:: US stock futures modestly in red after back-to-back rally

Source: Investing.com

3:05 PM

ALERT:: MOIL achieves 45% production growth in Apr-Oct 2023; stock trades flat

MOIL's production has surged to 9.26 lakh tonnes in the first seven months of FY24, registering a remarkable growth of 45 per cent YoY. In October, the company achieved a production of 1.11 lakh MT, which is 48% higher YoY, the company said in an exchange filing.

2:55 PM

ALERT:: Lupin inks marketing pack with Zydus Life for Saroglitazar; stock up 1%

Lupin has entered into a licensing and supply agreement with Zydus Lifesciences to co-market, Saroglitazar Mg for critical treatment of chronic liver diseases in India.

2:44 PM

Spreading the risk: India's MFs are now invested in nearly 1,000 companies

Legendary mutual fund manager Peter Lynch was advised to bring down the number of stocks in his portfolio from 40 to around 25 when he first took over the Fidelity Magellan fund in 1977. He instead added hundreds more. READ MORE

2:35 PM

ALERT:: Newly listed Blue Jet Healthcare reports fire accident; stock down 2%

Blue Jet Healthcare in an exchange filing informed of a fire incident today at the company's Mahad plant in Maharashtra.

 

Currently, the company is in the process of evaluating the extent of the damage caused and have started the necessary procedures. The company has adequate insurance coverage for the assets in the said plant, the release stated.

2:24 PM

ALERT:: Uco Bank Q2 net surges 80% QoQ; stock down 1%

2:12 PM

ALERT:: TTK Healthcare Q2 net soars 62%; stock up 2%

TTK Healthcare Q2 net profit soared 61.6 per cent to Rs 16.01 crore for the quarter ended September 2023 when compared with Rs 9.91 crore in the corresponding quarter a year ago. Total income increased 11.6 per cent YoY to Rs 201.80 crore.

2:00 PM

ALERT:: KPI Energy wins new orders for 5.70 MW; stock rallies 5%

KPI Energy in an exchange filing siad it won new orders aggregating to 5.70 MW for executing solar power projects received by Sun Drops Energia, a wholly-owned subsidiary of the company under ‘Captive Power Producer (CPP)’ segment of the company.

1:49 PM

ALERT:: Gabriel India Q2 net jumps 28%; stock gains 2%

Gabriel India Q2 net profit rose 28.4 per cent to Rs 46.95 crore for the quarter ended September 2023 when compared with Rs 36.57 crore in the corresponding quarter a year ago. Total income was up 7.8 per cent YoY at Rs 869.03 crore.

1:40 PM

Stock of this industrial products company has zoomed 79% in past one month

Thus far in the calendar year 2023, share price of Hind Rectifiers has skyrocketed 161 per cent, as against 5.3 per cent rise in the S&P BSE Sensex. READ MORE

1:28 PM

Bank of Baroda Q2 preview: Profit may rise upto 26% Y-o-Y; NIM outlook eyed

Analysts expect net profit to come in anywhere between Rs 3,484.4 crore (up 5.2 per cent Y-o-Y) and Rs 4,178.9 crore (up 26 per cent Y-o-Y). READ MORE

1:15 PM

Steel expansion plans threatened by scrap metal export restrictions

The country's consumption of ferrous scrap metal will jump 50% to 60 million tons by the end of the decade, and imports will double to about 20 million tons, it estimates. READ MORE

1:01 PM

Over 8,000 rockets fired, 250,000 Israelis evacuate from their homes: IDF

In a post shared by the IDF on X, it stressed, "Israel is still under fire", adding that over 300 rockets are fired at Israel daily. READ MORE

12:49 PM

RBI is accepting Rs 2000 notes via post too: Here's a step-by-step guide

While the Rs 2000 banknotes continue to be legal tender, the facility for the exchange of these notes is only available at the 19 RBI Issue Offices. READ MORE

12:28 PM

Senco Gold hits new high; zooms 86% in 8 weeks on strong earnings hope

Gold prices moved southwards in Q2 based on muted gold demand globally and in lndia, which also helped in volume growth, Senco Gold said. Read

12:15 PM

Will your EMI go up? ICICI Bank and Bank of India raise lending rates

ICICI Bank has increased its MCLR by 5 basis points for all tenures. According to ICICI Bank's official website, the overnight and one-month MCLR rates are now at 8.50 per cent. Read

12:01 PM

Adani Power soars 25% in 7 days; nears 52-week high on strong Q2 results

In Q2FY24, Adani Power's consolidated continuing EBITDA were higher by 202% YoY at Rs 4,336 crore; due to greater sales volumes, lower fuel cost, and higher merchant tariffs. Read

11:52 AM

SBI Q2 results preview: Analysts expect lender's profit to drop; here's why

The July to September quarter (Q2FY24) results of State Bank of India (SBI) may see decline in the lender's profitability on a quarter-on-quarter (Q-o-Q) basis on the back of lower treasury gains, pressure on margins, and some uptick in provisions. Read

11:40 AM

US importing from key partners like India, less dependent on China: Yellen

Stating that the US is committed to an Indo-Pacific that is free and open, Secretary of Treasury Janet Yellen said that Washington is increasing its trade with countries like India, Vietnam and Mexico reducing its dependence on China. Read here