Market Close Highlights, Oct 17: Sensex sheds 495 pts, Nifty ends below 24,750; Auto drags, IT leads

Stock Market Today: Notably, Bajaj Auto settled down by as much as 13.11 per cent, while the Nifty Auto index plunged 3.54 per cent on Thursday

3:55 PM

Stock Market Close Highlights: 'Not an ideal level to initiate short positions in Nifty'

Stock Market, Nifty Outlook: On the daily chart, the Nifty has broken down from a bearish flag pattern, suggesting a possible downward move in the short term. The RSI is showing a bearish crossover and is declining. However, this may not be the ideal level to initiate short positions, as the index has experienced a steep correction and is near a double-bottom support, which could trigger a near-term recovery toward 25,000.

Conversely, a decisive fall below 24,700 could lead to a significant correction in the market.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

 

3:52 PM

Stock Market Close Highlights: 'Weak Q2 result is affecting market sentiment'

Stock Market Outlook: The domestic market experienced significant losses driven by widespread selloffs across various sectors, notably auto, realty, consumer durables and finance. This downturn was attributed to weaker sales forecasts for the festive season, high NPAs and slow credit growth. Weak Q2 result is affecting the market sentiment. Conversely, the IT sector outperformed as a contrary bet and in-line Q2 results.

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

3:49 PM

Stock Market Close Highlights: Rupee ends 7 paise weaker vs US dollar

Stock Market Highlights LIVE Updates: Indian Rupee ends at 84.068 vs US dollar

3:46 PM

Stock Market Close Highlights: Mid, SmallCap indices underperform benchmarks

Stock Market Highlights LIVE Updates: BSE MidCap index falls the most, down 1.6 per cent at close today

>> BSE SmallCap index dropped 1.4 per cent today, October 17

3:43 PM

Stock Market Close Highlights: All 15 Auto index components bleed

>> Stock Market Highlights LIVE Updates: Bajaj Auto leads the list of auto stocks losers with 13 per cent plunge

>> Bosch Ltd, M&M, TVS Motor, Hero MotoCorp, Exide Ind, and Apollo Tyres were some ofthe other auto, auto-ancillary stocks that fell over 2 per cent

3:39 PM

Stock Market Close Highlights: Realty, Auto indices fall 3-4%; IT shines

>> Stock Market Highlights LIVE Updates: All but IT index closed lower on Thursday

>> Nifty Realty index plummeted near;y 4 per cent, Nifty Auto index 3.5 per cent, and Nifty Media index 2 per cent

>> Nifty IT index was the only gainer, up 1.2 per cent

3:36 PM

Stock Market Close Highlights: 21 of 30 Sensex stocks bleed in trade

>> Stock Market Highlights LIVE Updates: 21 of the 30 Sensex stcosk slipped in trade

>> Nestle India, M&M, Ultratech Cement, Bajaj Finserv, Titan Company, Maruti Suzuki, Axis Bank, Tata Steel, Bharti Airtel, HDFC Bank, HUL, Tata Motors, and NTPC were the top Sensex losers today

>> These stocks fell in the range of 1 per cent to 3.45 per cent

>> Tech M, Infosys, Power Grid, L&T, SBI, and TCS were the top Sensex gainers today, up upto 3%
 

3:34 PM

Stock Market Close Highlights: NSE Nifty50 ends below 24,750 today

Stock Market Highlights LIVE Updates: NSE Nifty ended at 24,749.85 today, down 221.45 points or 0.89% today

>> The NSE Nifty50 hit a low of 24,728.90 intraday on Thursday, October 17
 

3:32 PM

Stock Market Close Highlights: Sensex sees extended profit booking, slips nearly 500 points

Stock Market Highlights LIVE Updates: The BSE Sensex clsoed at 81,006.61, down 494.75 points or 0.61% today

>> The BSE Sensex hit an intraday low of 80,905.64 today, October 17, 2024

3:24 PM

Stock Market LIVE Updates: Geojit Financial Services posts Q2 results

>> Stock Market LIVE Updates: Geojit Financial Services reports net profit growth of 53.6 per cent Y-o-Y to Rs 55.6 crore vs Rs 36.2 crore in Q2FY24

 

>> Geojit Financial Services' Q2 revenue grew 51.8% per cent Y-o-Y to Rs 218.5 crore from Rs 143.9 crore
 

3:15 PM

Stock Market LIVE Updates: This transformers stock surged 55% in 7 days; zoomed 1229% in 18 months

Stock Market LIVE Updates: In the last 18 months, the market price of Indo Tech Transformers has skyrocketed 13 times or 1,229 per cent from level of Rs 188.60 on the BSE. Currently, the stock is trading under ‘T’ or Trade-for-Trade (T) group. The T group is a surveillance measure that requires securities to be settled on a trade-to-trade basis. READ MORE

3:06 PM

Stock Market LIVE Updates: Sensex tanks 562 pts, Nifty below 24,750; What's worrying D Street today?

China's mainline CSI 300, Shanghai, and Hong Kong's Heng Seng were down over 1 per cent in trade as the housing policy briefing in China failed to excite investors and property stocks slumped. READ MORE

2:53 PM

Stock Market LIVE Updates: Will China's new $550 billion loan measure revive slumping property market?

Stock Market LIVE Updates: China's Ministry of Housing has introduced new initiatives to revitalise the country’s property market, including pumping up the sector with $550 billion in loans by year end for housing projects. The move marks the latest effort by policymakers to spur economic growth in the world's second-largest economy. READ MORE

 

2:44 PM

Stock Market LIVE Updates: Zepto looks to raise $100 million, marking third funding round in 6 months

Stock Market LIVE Updates: Quick commerce startup Zepto is in advanced talks to raise $100 million in new investment, according to a report by TechCrunch. This will be the company’s third round of fundraising in just six months. Known for delivering groceries and office supplies within 10 minutes in various Indian cities, is securing the investment from domestic sources. This includes Indian family offices and high-net-worth individuals. READ MORE

2:35 PM

Stock Market LIVE Updates: Hyundai Motor India IPO Day 3: Subscription soars 1.87x; QIBs drive demand

Stock Market LIVE Updates: The initial public offering (IPO) of Hyundai Motor India has succeeded in gaining traction on the final day of bidding, as the issue received bids for 18,65,23,491 shares against the 9,97,69,810 shares offered, translating to an oversubscription of 1.87 times. This demand was driven by Qualified Institutional Buyers (QIBs), who bid for 5.47 times the shares offered till around 1:45 PM on Thursday. READ MORE

 

2:32 PM

Stock Market LIVE Updates: India's logistics cost will come down to single-digit in two yrs, says Gadkari

Stock Market LIVE Updates: nion Road Transport and Highways Minister Nitin Gadkari on Thursday said India's logistics cost will come down to single-digit within the next two years. Addressing an event organised by NITI Aayog, Gadkari said the ministry is constructing several highways and expressways, which will help reduce India's logistics cost. READ MORE

2:24 PM

Stock Market LIVE Updates: India growth, population to grow demand for carbon-intensive goods, says Moody's

Stock Market LIVE Updates: Moody's Ratings on Thursday said India has made rapid progress building its renewables capacity, but its fast-growing economy and expanding population will drive up carbon-intensive product demand. Moody's expects India to remain one of the fastest growing economies in the world with real GDP growing 7.2 per cent in 2024 and 6.6 per cent in 2025. READ MORE

2:18 PM

Stock Market LIVE Updates: India poised to be 3rd largest economy, rising population a challenge: S&P

Stock Market LIVE Updates: India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday.

 

It said emerging economies have high ambitions for the next decade and beyond with India aiming to become a $30 trillion economy by 2047, from the current $3.6 trillion. India is currently the fifth largest economy. READ MORE

 

2:16 PM

Stock Market LIVE Updates: Allied Blenders and Distillers apoints Manoj Kumar Rai as Chief Revenue Officer

Stock Market LIVE Updates: Allied Blenders and Distillers Limited today announced the appointment of Manoj Kumar Rai as the company's new Chief Revenue Officer (CRO). 

Rai will be responsible for Allied Blenders' revenue strategies, focusing on enhancing existing revenue streams and exploring new business opportunities across ABDL’s diverse portfolio, the company said in an exchange filing.

Rai's extensive experience includes managing key roles at Marico Industries, Saregama India, and Sulzer Thermetec – PBG. 

 

2:01 PM

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

Stock Market LIVE Updates: Benchmark Indian equity indices were trading deep in the red on Thursday, amid a wider sell-off across sectors, led by a decline in auto, bank and financial services stocks, among others.

At 2 PM, the BSE Sensex was down 503 points, or 0.62 per cent, at 80,997, and the Nifty 50 was at 24,749, down 222 points, or 0.89 per cent.

 

1:53 PM

Stock Market LIVE Updates: Raghav Productivity hits new high ahead of meet for bonus; up 40% in 7 days

Stock Market LIVE Updates: Shares of Raghav Productivity Enhancers (REPL) hit a new high of Rs 1,308.20, as the scrip surged 7 per cent on the BSE in Thursday’s intra-day trade ahead of board meeting on Friday, October 18 to mull over a proposal to issue bonus shares. In comparison, the BSE Sensex was down 0.52 per cent at 81,072 levels, at 12:59 PM. READ MORE

 

1:49 PM

Stock Market LIVE Updates: Manba Finance soars 14% in 2 days on dividend news; defies market weakness

Stock Market LIVE Updates: Earlier, on October 16, Manba Finance informed the exchanges that, at the company’s request, India Ratings and Research (Ind-Ra) had withdrawn the ratings assigned to the Commercial Paper (CP) of the company. The company had voluntarily requested such withdrawal since it had fully repaid the amounts and no longer needed to maintain a rating under the said Commercial Paper (CP) issue. READ MORE

1:42 PM

Stock Market LIVE Updates: Only 8 stocks trade in green on Sensex

Stock Market LIVE Updates: Only 8 stocks tarde higher led by Tech M, Infosys, SBI, Power rid

>> Nestle India, Ultratech Cement, M&M, Bajaj Finserv, Axis Bank, Maruti Suzuki, HDFC Bank are top losers on Sensex today

1:38 PM

Stock Market LIVE Updates: Nestle India slips 4% after posting slightly lower Q2 net profit; Details

Stock Market LIVE Updates: Nestle India shares declined 3.9 per cent in trade on Thursday and logged an intraday low of Rs 2,364.8 per share on BSE. The selling pressure in the stock came after the FMCG major reported mixed numbers for the September 2024 quarter.

 

At around 1:01 PM, Nestle shares were down 3.52 per cent at Rs 2,375.6 per share on the BSE. In comparison, the BSE Sensex was down 0.55 per cent at 81,056.59 around the same time. READ MORE

 

1:29 PM

Stock Market LIVE Updates: HDFC Bank Q2 results preview: Muted qtr expected; loan-deposit ratio eyed

Stock Market LIVE Updates: HDFC Bank, India's biggest lender, is expected to report flat July-September quarter (Q2) results for the current financial year 2024-25 (FY25), according to analysts.

 

Most brokerages assessed by Business Standard expect HDFC Bank's Q2 FY25 net profit to vary +/- 2 per cent over last year's (Q2 FY24) net profit of Rs 15,976.1 crore. Sequentially, it would be nearly flat over profit of Rs 16,174.8 crore seen in the June quarter (Q1) of FY25. READ MORE

 

1:11 PM

Stock Market LIVE Updates: Nestle Q2 results: Profit drops 0.94% to Rs 899.49 cr, net sales up 1.3%

Stock Market LIVE Updates: FMCG major Nestle India Ltd on Thursday reported a marginal decline of 0.94 per cent in its net profit at Rs 899.49 crore for the quarter that ended September 2024, in which it faced high commodity prices and some of its key brands faced softer consumer demand.

 

The company had posted a net profit of Rs 908.08 crore in the July-September period a year ago, according to a regulatory filing from Nestle India. READ MORE

 

1:02 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty tread water in red

Stock Market LIVE Updates: Benchmark Indian equity indices were trading lower on Thursday, amid a wider sell-off across sectors, led by a decline in auto, bank and financial services stocks, among others.

At 1 PM, the BSE Sensex was down 427 points, or 0.52 per cent, at 81,073, and the Nifty 50 was at 24,793, down 177 points, or 0.71 per cent.

 

12:57 PM

Stock Market LIVE Updates: Mamaearth secures third spot among top skincare brands in India

Stock Market LIVE Updates: Mamaearth today informed that it has secured the third spot among top skincare brands in India according to Euromonitor International's latest report on Beauty and Personal Care market in India.

Mamaearth has also climbed to the ninth position, from thirteenth last year, among the top beauty and personal care brands in India, as per Euromonitor.

Its CY2023 report on Beauty and personal care in India highlights the rise of direct-to-consumer (D2C) brands in India’s beauty and personal care sector. 

Apart from that, Honasa’s other brand, The Derma Co. has made its mark among the top 20 skincare brands in India, emerging as the country's largest active-based skincare brand.

 

12:52 PM

Stock Market LIVE Updates: Club Mahindra launches Club Mahindra Bharatpur in Rajasthan

Stock Market LIVE Updates: Club Mahindra today announced the launch of its latest property, Club Mahindra Bharatpur, in Rajasthan.

Located at the periphery of the Keoladeo National Park, a UNESCO World Heritage site and one of India’s most famous bird sanctuaries, the resort offers guests the unique opportunity to experience an exceptional blend of wildlife and heritage.

According to the company's exchange filing, the resort is spread across 10 acres, featuring 59 elegantly designed rooms including hotel units and studio categories that blend traditional heritage charm with exquisite décor. 

 

12:44 PM

Stock Market LIVE Updates: Last chance! Hyundai Motor India IPO closes today; GMP sinks below 1%; bid?

Stock Market LIVE Updates: The grey market premium (GMP) of unlisted shares of Hyundai Motor India has taken a hit and fallen below 1 per cent (0.87 per cent), reflecting subdued market sentiments for the initial public offering (IPO) of the South Korean automaker's Indian arm, which opened for public subscription on Tuesday, October 15, and comes to closing hours today. Hyundai Motor IPO's today's GMP is significantly lower than the Rs 147 or 7.5 per cent, recorded on October 9, when Hyundai Motor announced its price band, according to sources tracking grey market activities. READ MORE