Market Close Highlights, Oct 16: Sensex sheds 319 pts, Nifty below 25k; Auto, IT indices fall 1%

Stock Market Today: The BSE Sensex shed 318.76 points or 0.39 per cent to settle at 81,501.36. Similarly, Nifty50 ended at 24,971.30, down 86.05 points or 0.34 per cent

3:58 PM

Tech View: Market sentiment bearish, break below 24,900 could intensify weakness

The Nifty has slipped after a brief consolidation on the hourly time frame, suggesting increasing bearish sentiment among traders. The recent weakness has led Nifty below the 38.20 per cent retracement of the previous rise from 24,694 to 25,212.

Sentiment now appears slightly bearish, with immediate support at 24,900. A break below this level could intensify the weakness, potentially dragging Nifty down to 24,700. On the upside, 25,000 remains a strong resistance; only a decisive breakout above this level may trigger a directional rally in the market.

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

3:51 PM

Comment: Market traded with negative bias on fears of downgrade in FY25 earnings

The national market traded range bound with a negative bias due to the fear of a downgrade in FY25 earnings, which could impact the sustainability of premium valuation.

The participants are expecting only a slow pace in earnings expansion in Q2FY25 due to insipid demand and volatility in input prices. The rate of recovery in Q2 compared to Q1 is below expectation.

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

3:43 PM

Stock Market Highlights LIVE Updates: HDFC Life, Dr Reddy's and Grasim Ind lead on NSE

HDFC Life, Dr Reddy's and Grasim rose up to 2 per cent on NSE, while Trent, M&M and Infosys ended in red. 

3:41 PM

Stock Market Highlights LIVE Updates: Nifty IT, Auto lead losses among sectors

Among sectors, Nifty IT and Nifty Auto fell over 1 per cent each at close, while Nifty Realty and Nifty Financial services finished in green. 

3:39 PM

Stock Market Highlights LIVE Updates: Broader market mixed

In broader markets, the BSE MidCap fell 0.10 per cent, while the BSE SmallCap ended in green, rising 0.31 per cent.

3:36 PM

Stock Market Highlights LIVE Updates: Heatmap check

25 out of 30 stocks ended in red on the BSE Sensex, with M&M, Infosys, Kotak Mahindra Bank and JSW Steel falling up to 3 per cent. 

3:32 PM

Stock Market Highlights LIVE Updates: Nifty ends below 25,000 mark

NSE's Nifty 50 finished at 24,971, down 86 points, or 0.34 per cent on Wednesday. 

3:31 PM

Stock Market Highlights LIVE Updates: Sensex ends over 300 pts down

The BSE Sensex closed at 81,501, down 318 points, or 0.39 per cent on Wednesday.

3:13 PM

Stock Market LIVE Updates: Gala Precision Engineering shares skyrocket 15% due to heavy volume

Shares of Gala Precision Engineering climbed as much as 15.56 per cent to hit an all-time high of Rs 944.90 on the NSE today amidst heavy demand. A combined total of nearly 4.59 lakh shares worth around Rs 41.35 crore have exchanged hands on NSE and BSE on Wednesday.

On the NSE alone, the trading volume of Gala Precision Engineering jumped to 4,13,933, nearly 7 times its weekly average volume of 63,527, leading to a surge in the stock price. Read more

3:02 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was at 81,549, down 271 points, or 0.33 per cent, while the Nifty 50 was at 24,984, down 72 points, or 0.29 per cent.

 

2:56 PM

Stock Market LIVE Updates: AMCs, broking stocks rally up to 15%; Aditya Birla, UTI, CAMS at new peak

Stock Market LIVE Updates: Shares of capital market-related sectors like asset management companies (AMCs) and broking firms are on a roll as they rallied up to 15 per cent on the BSE in Wednesday’s intra-day trade in otherwise a weak market. 

 

This comes after HDFC AMC and Angel One posted a strong September quarter (Q2FY25) earnings. READ MORE

 

2:47 PM

Stock Market LIVE Updates: Fund managers pare India allocation in favour of China, BofA survey finds

Stock Market LIVE Updates: Global fund managers increased their allocation to China at India's expense after Asia's largest economy unleashed a stimulus package, according to a survey conducted by BofA Securities. Last Saturday, China pledged to significantly increase debt to revive its sputtering economy. China's central bank in September announced the most aggressive monetary support measures since the pandemic. READ MORE

2:45 PM

Stock Market LIVE Updates: 103 stocks hit upper circuit amid weak market sentiments; do you own any?

Stock Market LIVE Updates: Shares of as many as 103 companies have hit the upper circuit on the NSE, defying otherwise weak market sentiments, as the benchmark equity indices, the BSE Sensex and the NSE Nifty50, are trading lower on Wednesday. The NSE Nifty50, which started the session on a lower note at 25,008.55 against its previous close of 25,057.35, fell 0.59 per cent to today’s low of 24,908.45. Whereas, the 30-share Sensex dropped 0.56 per cent to hit an intraday low of 81,358.26. READ MORE

2:34 PM

Stock Market LIVE Updates: Cipla, Alkem eye Rs 4,000 crore stake in India's largest stent manufacturer

Stock Market LIVE Updates: Cipla and Alkem Laboratories have emerged as the leading contenders to acquire a controlling stake in Mumbai-based Sahajanand Medical Technologies (SMT), India’s largest cardiac stent manufacturer. This comes after private equity giants KKR, TPG Capital, and Apax Partners withdrew from the race, having initially shown interest, reported The Economic Times citing sources. READ MORE

 

2:31 PM

Stock Market LIVE Updates: Adani Energy stock rises over 3% on acquiring two electric utility firms

Stock Market LIVE Updates: Shares of power distribution company, Adani Energy Solutions rose as much as 3.4 per cent at Rs 1,038.30 per share on the BSE. The stock price jumped on Wednesday after the company announced acquisition of electrical utilities companies. READ MORE

 

2:30 PM

Stock Market LIVE Updates: Shilpa Medicare in focus

Stock Market LIVE Updates: Shilpa Medicare’s CDMO customer receives fast-track designation for its investigational drug candidate.

The company, via an exchnage filing said, "One of SML’s, NASDAQ listed US based, CDMO customers has announced that its investigational drug candidate for treatment of Glioblastoma (GBM) has been granted Fast Track Designation by the USFDA. The drug is currently in a Phase 1A clinical trial designed to evaluate the safety and tolerability of the synthetically lethal investigational drug candidate in a broad range of solid tumors, including GBM. A phase 1b/2a clinical trial for recurrent GBM is targeted to start in late 2024/early 2025."

Source: BSE

2:25 PM

Stock Market LIVE Updates: Tips Music announces Q2 results

Stock Market LIVE Updates: Tips Music announces Q2 results; Q2 profit at Rs 48.16 crore, Q2 revenue at Rs 80.6 crore.

Board declares second interim dividend of Rs 2 per equity share for FY25

Source: BSE

2:15 PM

Stock Market LIVE Updates: Antony Waste up 7% after posting record collection and transportation in Q2

Stock Market LIVE Updates: Antony Waste Handling Cell shares jumped 6.5 per cent and registered an intraday high of Rs 830 per share on BSE. The waste management company's scrip advanced after it informed that it has collected and transported (C&T) a record amoung of waste materials at 0.49 tonnes in the quarter ended September 30, 2024. READ MORE

 

2:03 PM

Stock Market LIVE Updates: 2 PM market update - Off day's low, Sensex, Nifty tread water in red

Stock Market LIVE Updates: Benchmark Indian equity indices were dragged lower by declining Auto and IT stocks, amid weak market sentiment on Wednesday. 

At 2 PM, the BSE Sensex was at 81,547, down 272 points, or 0.33 per cent, while the Nifty 50 was at 24,976, down 80 points, or 0.32 per cent.

 

1:47 PM

Stock Market LIVE Updates: RateGain's channel manager integrated with TCA's PMS for Latin American hoteliers

Stock Market LIVE Updates: RateGain Travel Technologies today announced a strategic technology integration with TCA Software Solutions, a leading provider of Property Management Systems (PMS) for the hospitality industry. 

The company, in an exchange filing, said, "This collaboration integrates TCA’s flagship PMS, Inssit, with RateGain’s advanced Channel Manager solution, bringing enhanced efficiency and revenue optimisation to hoteliers in Latin America."

Inssit PMS, a robust and secure software system, is designed to streamline hotel operations and elevate guest experiences. By integrating RateGain’s cutting-edge channel manager, hotels in Latin America can now use a centralised platform that connects their Inssit PMS with over 400 online booking channels, including major online travel aggregators (OTA), metasearch engines, and their own websites.

 

1:41 PM

Stock Market LIVE Updates: Shyam Metalics begins operating state-of-the-art coke oven plant at Jamuria, WB

Stock Market LIVE Updates: Shyam Metalics and Energy today announced the commencement of operations at its advanced coke oven plant in Jamuria, West Bengal. 

The company, in an exchange filing, said, "The new facility began production... Backward integration will enhance the company's bottom line by reducing costs and increasing control over the supply chain."

"The factory will largely employ coal imported from Australia, Indonesia, and Russia to create high-quality coke. This coke will be used in Shyam Metalics' blast furnace, sinter plant, and ferroalloys facility, increasing production efficiency and quality across all facilities," the company added.

The company further said that the plant adheres to strict environmental regulations and is friendly to the environment with its non-recovery type coke oven design, which ensures zero emissions. 

Furthermore, the waste heat recovery boiler (WHRB) facility will catch and use the flue gas released during the coke production process to generate electricity, increasing the plant's efficiency and reducing its impact on the environment, it added.

1:33 PM

Stock Market LIVE Updates: Amber rallies 8% in 3 days on JV with Korean Circuit for manufacturing PCBs

Stock Market LIVE Updates: Amber Enterprises share price hit a new high of Rs 5,405 on the BSE today. Amber Enterprises shares gained 5 per cent in Wednesday's intraday trade, in an otherwise weak market.

 

In the past three days, the stock of the household appliances company has rallied 8 per cent after Amber group and Korea Circuit announced a Joint Venture (JV) to manufacture printed circuits boards (PCBs) in India. READ MORE

 

1:25 PM

Stock Market LIVE Updates: KEI Industries shares drop 7% on reporting lower Q2 profit, Ebitda margins

Stock Market LIVE Updates: KEI Industries shares lost 6.8 per cent in trade on Wednesday and registered an intraday low of Rs 4,365.55 per share after the company reported lower profit margins in its second quarter (Q2FY25) numbers.

 

At around 9:52 AM, KEI Industries' share price was down 5.48 per cent at Rs 4,430.2 per share. In comparison, the BSE Sensex was up 0.05 per cent at 81,861.02, around the same time.  READ MORE

 

1:14 PM

Stock Market LIVE Updates: BEML climbs 8% on Rs 866-cr deal to build two high-speed train sets

Stock Market LIVE Updates: BEML shares soared 7.7 per cent on Wednesday and logged an intraday high of Rs 4,009.25 per share after the company secured a contract from Integral Coach Factory to design and manufacture two 'Made in India' high-speed trains.

 

At around 11:06 AM, BEML share price was up 4.76 per cent at Rs 3,896.65 per share on the BSE. In comparison, the BSE Sensex was down 0.11 per cent at 81,728.12, around the same time. READ MORE

 

1:02 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty trend lower

Stock Market LIVE Updates: Benchmark Indian equity indices were dragged lower by declining Auto and IT stocks, amid weak market sentiment on Wednesday. 

At 1 PM, the BSE Sensex was at 81,469, down 350 points, or 0.43 per cent, while the Nifty 50 was at 24,953, down 103 points, or 0.41 per cent.

 

12:56 PM

Stock Market LIVE Updates: What's driven this Mukul Agrawal portfolio stock up 223% in 1 year; Details

Stock Market LIVE Updates: Shares of Strides Pharma Science hit a new high of Rs 1,651.15, as they rallied 5 per cent on the BSE in Wednesday’s intraday trade in an otherwise weak market. In comparison, the BSE Sensex was down 0.5 per cent at 81,447, at 11:41 AM.

 

In the past three months, the company's stock has surged 75 per cent, and zoomed 224 per cent in the past one year, as compared to the 23 per cent rise in the benchmark index BSE Sensex. READ MORE

 

12:46 PM

Stock Market LIVE Updates: Quant MF largest investor in Adani Enterprises' QIP, buys 47% of shares

Stock Market LIVE Updates: Quant Mutual Fund has emerged as the largest investor in Adani Enterprises' recent Qualified Institutions Placement (QIP), which raised Rs 4,200 crore. They acquired nearly 47% of the total shares offered. READ MORE

 

12:31 PM

Stock Market LIVE Updates: PNC Infratech stock surges 5% after securing 'LoA' worth Rs 4,630 cr

Stock Market LIVE Updates: PNC Infratech shares surged 5.45 per cent at Rs 470.40 per share on the BSE. The stock price jumped on Wednesday after the company said that it has secured orders worth Rs 4,630 crore.

 

PNC Infratech on Tuesday said that it has secured Letters of Acceptance (LoA) from the Maharashtra State Road Development Corporation (MSRDC) for two EPC road projects totaling Rs 4,630 crore. READ MORE

 

12:17 PM

Stock Market LIVE Updates: Aditya Birla Sun Life AMC gains 8% on plan to launch 3 private credit funds

Stock Market LIVE Updates: Aditya Birla Sun Life Asset Management Company (ABSL AMC) shares gained 7.8 per cent in early deals on Wednesday and logged an intraday high of Rs 753 per share. The asset management company's plan to launch three new funds pushed the scrip to the day's high.

 

At around 10:30 AM, Aditya Birla Sun Life AMC share price was up 7.48 per cent at Rs 750.45 per share on the BSE. In comparison, the BSE Sensex was down 0.05 per cent at 81,775.88, around the same time.  READ MORE

 

12:04 PM

Stock Market LIVE Updates: 12 PM market update - IT, Auto stocks drag Sensex, Nifty lower

Stock Market LIVE Updates: Benchmark Indian equity indices were dragged lower by declining Auto and IT stocks, amid weak sentiment in the market on Wednesday. 

At around 12 PM, the BSE Sensex was at 81,466, down 354 points, or 0.43 per cent, while the Nifty 50 was at 24,952, down 104 points, or 0.42 per cent.

Meanwhile, all sectoral indices, barring financial services, were trading in the red, with loses led by the Auto index, which was down 1.46 per cent, followed by the IT index, which was down over 1 per cent. 

The Financial Services index was up 0.19 per cent.