Sensex, Nifty take breather after 3-day winning run; pharma, PSBs rally

Closing Bell on November 7, 2023: The broader markets, on the other hand, held steady gains throughout the session, settling 0.53 per cent and 0.38 per cent higher, respectively

3:58 PM

Tech View :: Check key levels for Nifty, Bank Nifty

Nifty50

The dip towards the support zone of 19,330 – 19,300, where the key hourly moving averages were placed, was bought into and the hourly momentum indicator has also triggered a positive crossover from the equilibrium line which indicates that it has started a new cycle on the upside. It is still trading around the crucial resistance zone 19,450 – 19,500 and a decisive close above it shall lead to a further rally upwards till 19,690. On the downside, 19,300 – 19,270 shall act as a crucial support zone from short term perspective.

Bank Nifty

Bank Nifty recover sharply from intraday dip and closed around the highs for the day. On the downside, 43,300 – 43,200 acted as a strong support and is now extending on the upside. it is likely to inch towards 44,000. Momentum setup is in sync with the price action and is likely to provide speed to the upmove.

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

3:48 PM

Comment :: 'Caution prevailed at higher levels amid state elections'

The market witnessed some resistance at higher levels as caution prevails due to the start of the key state elections, and further negative global cues on account of a more than expected fall in Chinese exports, highlighting a continued slowdown in global trade.

Despite the extension of supply cuts by Saudi Arabia and Russia, crude oil prices moderated, a positive for India in the midst of geopolitical tension. This, along with the moderation in US bond yields and the positive ongoing earnings season, will support long-term returns.

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

3:46 PM

Currency check :: Rupee ends 5 paise weaker at 83.267/$

3:45 PM

Stock of the day :: Honasa Consumer ends 4% higher on debut day

>> Issue price was Rs 324 per share

3:42 PM

SmallCap Heatmap :: Index rises 0.4%; check top gainers and losers

3:41 PM

MidCap Heatmap :: Index gains 0.5%; check top gainers and losers

3:39 PM

Sectoral trends :: Realty, Media indices end lower; Pharma rallies

3:37 PM

Sensex Heatmap :: Bajaj Finance, RIL weigh on benchmarks

3:36 PM

Closing Bell :: Nifty holds 19,400

3:34 PM

Closing Bell :: Sensex ends sharply off lows, slips 16 pts

3:22 PM

Jyothy Labs' Q2 profit up 59.1% at Rs 103.98 cr on strong revenue growth

The company, which has brands like Ujala, Maxo, Exo, Henko, Pril, Margo, had posted a consolidated net profit of Rs 65.35 crore in the second quarter of the last fiscal year, Jyothy Labs said in a regulatory filing. READ MORE

3:12 PM

RR Kabel soars 10% on strong Q2 performance; zooms 50% over its issue price

Shares of RR Kabel surged 10 per cent to a fresh high of Rs 1,550 on the BSE in Tuesday’s intra-day trade after the company reported a strong performance in September quarter (Q2FY24). In Q2, its profit after tax (PAT) more-than-doubled to Rs 74.1 crore from Rs 35 crore in the year ago quarter. Revenue grew 17.7 per cent YoY at Rs 1,609.70 crore. READ MORE

3:02 PM

ALERT:: TVS Motor announces launch of new three-wheeler; stock trades flat

TVS Motor Company today announced the launch of its new three-wheeler, TVS King Duramax Plus. The TVS King Duramax Plus will be available in CNG and petrol variant.

 

TVS King Duramax Plus is priced at Rs 2.57 lakh (CNG Variant) and Rs 2.35 lakh (Petrol Variant) ex-showroom Bangalore, the company said in a release to the exchanges.

2:50 PM

Zomato, Paytm: Analysts bet on new-age stocks amid improving profitability

The sentiment around shares of new-age companies is on the mend. From broad-based ‘sell’ calls, analysts are giving thumbs up to the likes of Zomato, Paytm, and FSN e-Commerce Ventures-owned Nykaa as the companies have shifted their focus on sustainable profits. READ MORE

2:37 PM

Tata considering sale of Voltas home appliance business, say reports

Considerations are at an early stage and Tata Group may decide to keep the asset for longer, the people said. A representative for Tata Group declined to comment. READ MORE

2:26 PM

ALERT:: Meghmani Organics reports loss in Q2; stock slips 3%

Meghmani Organics today reported a net loss of Rs 3.60 crore for the quarter ended September 2023. In the year ago period, the company had posted a net profit of Rs 73.40 crore. Total income decreased 42.9 per cent YoY to Rs 374 crore.

2:14 PM

ALERT:: Kopran Q2 net jumps 3-fold; stock gains 2%

Kopran today reported a 196.1 per cent surge in Q2 consolidated net at Rs 13.77 crore for the quarter ended September 2023 as against Rs 4.65 crore in the year ago period. Total income rose 30.1 per cent YoY to Rs 152.72 crore.

2:01 PM

Strong near-term outlook to aid revenues, margins for IndiGo after Q2 show

InterGlobe Aviation, the operator of India's leading airline IndiGo, delivered a better-than-expected performance across most parameters in Q2 FY24. The company posted its fourth consecutive quarter of net profit, of Rs 188 crore. It had reported a loss of Rs 1,583 crore in the same quarter a year ago. READ MORE

1:51 PM

ALERT:: GHCL Q2 net tumbles 51%; stock dips 3%

GHCL today reported a 51.5 per cent drop in Q2 consolidated net at Rs 142.84 crore for the quarter ended September 2023 as against Rs 294.25 crore in the year ago period. Total income declined 31 per cent YoY to Rs 816.65 crore.

1:42 PM

ALERT:: Devyani International Q2 net dips 37%; stock up 2%

Devyani International today reported a 37 per cent dip in Q2 consolidated net at Rs 35.82 crore for the quarter ended September 2023 as against Rs 56.84 crore in the year ago period. Total income, however, grew 9.9 per cent YoY to Rs 826.05 crore.

1:32 PM

Wipro asks employees to work from office thrice a week as Covid curbs eased

Companies have been reversing or modifying their "remote work" policies as Covid-19 pandemic-related restrictions wound down for reasons including better communication and collaboration among workers. READ MORE

1:20 PM

Kharif crop prices will guide inflation fight in coming months amid polls

A few weeks back, the Central government released the first advance estimate of kharif crops, which showed a dip in production of almost all crops except for tur due to uneven monsoon and other natural calamities, including pest attacks, in the case of cotton. READ MORE

1:09 PM

Oil & gas shares in demand; ONGC hits 5-year high; HPCL soars 6%, IOC 4%

In Q2FY24, HPCL logged a consolidated net profit of Rs 5,827 crore, compared to a loss of Rs 2,476 crore in year ago quarter. Revenue, however, dipped 9.7 per cent year-on-year (YoY) to Rs 1.02 lakh crore. READ MORE

12:58 PM

ALERT:: Zydus Life Q2 net jumps 53%; stock up 2%

Zydus Lifesciences today reported a 53.2 per cent surge in Q2 consolidated net at Rs 800.70 crore for the quarter ended September 2023 when compared with Rs 522.50 crore in the corresponding quarter a year ago. Revenue from operations grew 9.1 per cent YoY to Rs 4,368.80 crore.

12:44 PM

Sector ALERT:: Shares of Oil Marketing companies rally up to 5% led by HPCL

12:33 PM

SBI can fend off rising risks In personal loans, says S&P Ratings

SBI's personal loans are growing faster than the rest of its portfolio. However, the bank's customer selection mitigates the associated risks. READ MORE

12:22 PM

ALERT:: D B Realty Q2 net soars to Rs 688 cr; stock gains 3%

D B Realty today reported a net profit of Rs 687.78 crore for the quarter ended September 2023 when compared with Rs 10.02 crore in the corresponding quarter a year ago. Total income soared 166.6 per cent YoY to Rs 683.99 crore.

12:10 PM

Market check:: Sensex at day's low, down over 300 pts on selling in ICICI, HDFC Bank

11:57 AM

ALERT:: KPI Green Energy wins repeat orders under CPP segment; stock up 1%

KPI Green Energy today informed BSE that it won a repeat orders for 2.70 MW for executing solar power projects under CPP Segment. 

 

The cumulative orders of solar power projects, till date have crossed 115+ MW under CPP segment of the company, the release added.

11:46 AM

MFs, SGBs or ETFs? How to pick the right digital gold investment option

Indians love gold, more so on auspicious occasions like Akshay Tritiya, Dhanteras and Diwali. In India the demand for the yellow metal rose 10% to 210.2 tonnes during the third quarter of the calendar year, while the purchase of gold bars and coins touched 55 tonnes in the same period,  the highest since 2015, according to a World Gold Council (WGC) report. READ MORE