Market Close Highlights, Oct 8: Benchmarks snap 5-day losing run; Sensex up 585 pts, Nifty holds 25k

Stock Market Close Highlights Today: Adani Ports, M&M, Reliance Industries, HDFC Bank, L&T, SBI, Ultratech Cement, NTPC, and Kotak Bank were the top Sensex gainers today, up between 1 and 4.5 per cent

4:02 PM

Stock Market Highlights LIVE Updates: State election win for BJP brought optimism in the domestic market

After sessions of corrections, India is getting some support at the level of 25,800 for Nifty50. Good state election result for the ruling party, contrary to the exit polls, has brought some optimism in the domestic market.

RBI policy outcome, though no cut is expected, a plausible change in stance to neutral is anticipated. And investors are likely to focus on the upcoming Q2 results where earnings are likely to improve marginally on a QoQ basis.

(View by: Vinod Nair, Head of Research, Geojit Financial Services.)

 

4:00 PM

Stock Market Highlights LIVE Updates: Downside, support is placed at 24,850 for Nifty50

The Nifty formed a bullish harami pattern on the daily timeframe, indicating rising optimism. Additionally, the index has moved above a critical moving average on the hourly timeframe.

The RSI has made a bullish crossover in the shorter timeframe, further supporting the positive outlook. In the near term, the index may move towards the 25,350–25,400 range. On the downside, support is placed at 24,850, and a break below this level could lead to weakness.

(View by: Rupak De, Senior Technical Analyst, LKP Securities)

3:53 PM

Stock Market Highlights LIVE Updates: Nifty faces an immediate resistance zone at 25,150-25,300

After six consecutive days of decline, the markets rebounded, gaining nearly 1 per cent. Following a flat start, the Nifty gradually climbed throughout the day, primarily driven by a recovery in select heavyweight stocks, and closed near the day's high. Most sectors contributed to the rise, with auto, energy, and pharma leading the gains. The broader indices also saw a recovery, advancing over 2 per cent each.

 

While the recovery in key heavyweights could drive Nifty further upward, sustaining this momentum may be challenging. Nifty faces an immediate resistance zone around 25,150-25,300, with a significant hurdle still at 25,500. Traders should consider using this recovery to lighten positions and remain selective for long trades. We continue to favor IT and pharma stocks for their resilience and recommend careful stock selection in other sectors.

(View by: Ajit Mishra – SVP, Research, Religare Broking Ltd.)

3:45 PM

Stock Market Highlights LIVE Updates: SBI Life, Tata Steel fall up to 3% on NSE

SBI Life was the top loser on NSE, slipping 3.24 per cent at the closing bell and was followed by Tata Steel, Titan and Bajaj Finserv among others. 

3:42 PM

Stock Market Highlights LIVE Updates: Nifty Media ends 3% higher

Among sectors, Nifty Media outran others, climbing 3.11 per cent and was followed by Nifty Healthcare, Nifty Pharma and Nifty Auto. 

3:40 PM

Stock Market Highlights LIVE Updates: SmallCap index advances over 2% at close

The broader markets outperformed the benchmarks, as the BSE MidCap index surged 1.86 per cent, while the SmallCap index soared 2.44 per cent at the closing bell. 

3:36 PM

Stock Market Highlights LIVE Updates: Heatmap check

Adani Ports closed 5 per cent higher on BSE Sensex and was closely followed by the likes of M&M, Reliance and HDFC Bank.  

3:32 PM

Stock Market Highlights LIVE Updates: Sensex closes over 550 points higher

At close, the BSE Sensex was up 584 points, or 0.72 per cent, at 81,634 level. 

3:32 PM

Stock Market Highlights LIVE Updates: Nifty ends over 200 points above at 25,013

NSE's Nifty 50 closed at 25,013, up 217 points, or 0.88 per cent.

3:18 PM

Stock Market LIVE updates: Jindal SAW shares climb 6% ahead of record date

Shares of leading Iron & Steel Products maker company, Jindal SAW, soared 5.65 per cent to a day's high of Rs 745.30 during intra-day deals on Tuesday. A total of 9.21 lakh equity shares worth around Rs 67.17 crore traded hands on the combined BSE, and NSE today. Read more

3:12 PM

Stock Market LIVE updates: Trent, Dixon, Ipca, Coforge, Akzo Nobel hit record highs; rally up to 8%

Shares of Tata group company Trent; consumer electronics firm Dixon Technologies; drug maker Ipca Laboratories; information technology company Coforge; and paint manufacturer Akzo Nobel India hit their respective record highs today. These stocks from the BSE 500 universe staged a strong rally in the equity market on Tuesday. The stocks rallied up to 8 per cent as compared to 0.87 per cent rise in the BSE Sensex today at 02:16 PM. Read more

3:03 PM

Stock Market LIVE updates: 3 PM market update

Stock Market LIVE Updates: Indian benchmark equity indices, after opening on a muted note, were trading higher on Tuesday.

 

At 3 PM, the BSE Sensex was up 505 points, or 0.62 per cent, at 81,555, and the Nifty 50 was at 24,988.85, up 193 points, or 0.78 per cent.

 

2:56 PM

Stock Market LIVE Updates: LTIM launches Smart Spaces 2.0 to report key building metrics like energy, emission

Stock Market LIVE Updates: LTIMindtree today announced the launch of its comprehensive digital transformation and ESG platform, called Smart Spaces 2.0.

The company, in an exchange filing, said existing and new buildings can be fitted with the latest loT devices with this solution, and the facilities team can instantly access key data on the platform pertaining to operational and environmental metrics such as energy, emission, water and waste. 

THe company, in an exchange filing, said, "In commercial and industrial settings, Smart Spaces 2.0 can help with end-to-end ESG reporting across key factors, while delivering predictive maintenance and repair inputs. Clients can also integrate Smart Spaces 2.0 with their existing building and plant management systems to take instant action on alerts provided by the system."

2:43 PM

Stock Market LIVE Updates: PSP Projects share rises over 5% on securing order worth Rs 270 crore

Stock Market LIVE Updates: Shares of construction company PSP Projects gained up to 5.47 per cent to hit an intraday high of Rs 667 per share. 

The uptick in PSP Projects share price came after the company announced that it has bagged an order worth Rs 270 crore from domestic entities. READ MORE

 

2:33 PM

Stock Market LIVE Updates: Zinka Logistics gets Sebi nod for Rs 550-cr IPO; key details for investors

Stock Market LIVE Updates: Bengaluru-based Zinka Logistics Solutions has received final observation from the capital markets regulator, Securities and Exchange Board of India (Sebi), to raise funds through an initial public offering (IPO). Zinka Logistics had filed its IPO papers with Sebi on July 5, 2024. READ MORE

 

2:15 PM

Stock Market LIVE Updates: Transformers & Rectifiers hits 5% upper circuit after 2,329% YoY jump in Q4 PAT

Stock Market LIVE Updates: Transformers & Rectifiers (India) today posted total income of Rs 473.31 crore in Q2FY25, up 83.4 per cent year-on-year from Rs 258.12 crore in the year-ago period.

The company recorded profit before tax at Rs 64.09 crore in the quarter, up 2,029 per cent from the year ago period.

It recorded a 2,329.1 per cent jump in Q2 net profit at Rs 45.91 crore, compared to a net profit of Rs 1.89 crore in the year ago period.

2:01 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty gain

Stock Market LIVE Updates: Indian benchmark equity indices, after opening on a muted note, were trading higher on Tuesday.

At 2 PM, the BSE Sensex was up 629.61 points, or 0.78 per cent, at 81,679.61, and the Nifty 50 was at 25,006.25, up 210 points, or 0.85 per cent.

1:59 PM

Stock Market LIVE Updates: Allied Digital Services skyrockets 15% after large order win; know more

Stock Market LIVE Updates: Allied Digital Services stock price skyrocketed after the company won an order worth Rs 430 crore for ‘Pune Safe City Project’. Allied Digital Services share price surged 15.17 per cent at Rs 282 per share on the BSE in Tuesday’s intraday trade. 

At 1:31 PM, the stock price of the company was trading 12.91 per cent at Rs 276.45 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.61 per cent to 81,547.60 level. READ MORE

1:40 PM

Stock Market LIVE Updates: Sebi greenlights NSDL IPO: NSE, HDFC Bank, among others to pare stakes

Stock Market LIVE Updates: Market regulator, the Securities and Exchange Board of India (Sebi), has given the green light to National Securities Depository's (NSDL) highly anticipated initial public offering (IPO). This move paves the way for prominent investors, including the National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank, to divest their stakes in NSDL, as outlined in the Draft Red Herring Prospectus (DRHP).

 

NSDL's listing will also mark India's second publicly traded depository, alongside Central Depository Services (CDSL), which listed on NSE in 2017. Both NSDL and CDSL are India's sole SEBI-registered depositories offering demat and settlement services. READ MORE

1:36 PM

Stock Market LIVE Updates: Nykaa's share price falls despite strong Q2 update; check details here

Stock Market LIVE Updates: Shares of FSN E-Commerce Ventures, parent of e-commerce brand Nykaa dropped as much as 2.65 per cent a piece on the BSE in Tuesday’s intraday trade. 

 

The stock price dipped despite Nykaa reporting a strong update on its July-September financial performance for the financial year 2024-25 (Q2FY25). READ MORE

 

1:13 PM

Stock Market LIVE Updates: J&K election update: National Conference leads in 42 seats, BJP on 29

Stock Market LIVE Updates: According to data available on the Election Commission of India website, Jammu & Kashmir National Conference was leading in 42 seats, with results for 3 seats already declared, where it has won.

Trailing it was BJP's tally, which was ahead on 29 seats, including 4 where its candidates had already been declared a winner.

1:09 PM

Stock Market LIVE Updates: BJP leads Haryana with 51 seats out of 90

Stock Market LIVE Updates: According to data available on the election commission website, the Bhartiya Janta Party was leading on 51 seats out of total 90 seats, while the Indian National Congress was ahead in 34 constituencies. 

1:04 PM

Stock Market LIVE updates: TCS, Infy, HCL Tech: Should you buy or sell IT stocks ahead of Q2 results?

Tata Consultancy Services (TCS), India's largest IT software company, will kick-start the Q2 (September quarter) earnings season on October 10, Thursday. On the same day, another Tata Group IT firm - Tata Elxsi will also announce its July - September quarter earnings.

In the following days, HCL Technologies is scheduled to report Q2FY25 earnings on October 14 followed by MphasiS and LTTS (L&T Technology Services) on October 16; Infosys and Wipro on October 17 and Tech Mahindra on October 19. Read more

1:02 PM

Stock Market LIVE updates: 1 PM market update

Stock Market LIVE Updates: Indian benchmark equity indices, after opening on a muted note, were trading higher on Tuesday.

 

At 1 PM, the BSE Sensex was up 285 points, or 0.35 per cent, at 81,335, and the Nifty 50 was at 24,901.50, up 105 points, or 0.43 per cent.

 

12:55 PM

Stock Market LIVE Updates: Hi-Tech Pipes launches QIP at floor price of Rs 194.98 per share; stock up

Stock Market LIVE Updates: Pipe manufacturer Hi-Tech Pipes shares gained up to 2.55 per cent to hit an intraday high of Rs 203 per share on Tuesday, October 8, 2024. 

 

Hi-tech Pipes shares rose after the company announced that it has launched its qualified institutional placement (QIP), setting a floor price of Rs 194.98 per share, as approved by its board and shareholders. READ MORE

12:50 PM

Stock Market LIVE Updates: Blue Dart to offer discounts till Nov 2 on domestic and int'l Diwali gift shipments

Stock Market LIVE Updates: Blue Dart Express today announced the launch of its special 'Diwali Express' offer, valid until November 2, under which it will provide discounts on Diwali gift shipments across domestic and international routes.

The company, in an exchange filing, said that customers can enjoy discounts of up to 40 per cent on domestic shipments weighing between 2 and 10 kg, and up to 50 per cent on international non-document shipments weighing 3 to 25 kg, reaching key markets. 

This offer is applicable for both domestic priority and international shipments, with conditions applied, the company added.

12:41 PM

Stock Market LIVE Updates: SBI declares MTNL account as NPA: Share price down 8% today, 15% in 3 days

Stock Market LIVE Updates: MTNL share price declined 7.5 per cent to Rs 48.2 per share on the BSE in Tuesday's intraday trade. Including today's loss, MTNL share has tumbled 15.2 per cent in three days as against a 2 per cent dip in the benchmark BSE Sensex index during the period.

On Saturday, October 5, India's biggest public sector bank (PSB) State Bank of India (SBI) declared MTNL as a non-performing asset (NPA). MTNL owes Rs 325.528 crore to SBI. READ MORE

12:29 PM

Stock Market LIVE Updates: Garuda Construction IPO opens: GMP rises marginally; should you subscribe?

Stock Market LIVE Updates: The three-day subscription window for the initial public offering (IPO) of Garuda Construction and Engineering opens today. The IPO consists of a fresh issue of 18,300,000 shares and an offer for sale of 9,500,000 shares, each with a face value of Rs 5. The price band for the IPO is set at Rs 92-95 per share, with a lot size of 157 shares.

Investors can bid for a minimum of 157 shares and in multiples thereof. The IPO subscription window will close on Thursday, October 10, 2024. READ MORE

12:15 PM

Stock Market LIVE Updates: TCS Q2 Preview: Analysts expect single-digit profit rise, focus on outlook

Stock Market LIVE Updates: Tata Consultancy Services (TCS), the largest Indian information technology firm is set to report its financial performance for the July-September quarter of fiscal year 2024-25 (Q1FY25) on Thursday, October 10. The Indian IT major is expected to register a single digit rise in its topline and bottomline compared to the September quarter of FY24.

 

According to brokerages tracked by Business Standard, TCS will likely report an average revenue increase of 7.2 per cent year-on-year (Y-o-Y) to Rs  63,993.2 crore. READ MORE

12:08 PM

Stock Market LIVE Updates: Airtel in talks to buy Tata Play as digital TV industry sees shake-up

Stock Market LIVE Updates: Sunil Mittal-led Bharti Airtel is in advanced negotiations to acquire Tata Group’s loss-making Tata Play, the country’s largest direct-to-home (DTH) service provider, reported The Economic Times citing sources familiar with the matter.

 

The move is seen as a strategic effort by Airtel to bolster its presence in the digital TV space, which faces slow growth, while strengthening its bundled services to increase non-mobile revenues. READ MORE