Market Close Highlights, Oct 21: Sensex, Nifty end in red after choppy session; HDFC Bank gains 2.6%

Stock Market Close Highlights, Oct 21: The BSE Sensex fell 73 points to end at 81,151; the Nifty50 shut shop below 24,800; the BSE MidCap and SmallCap indices fell up to 1.6 per cent

4:02 PM

Stock Market Highlights LIVE Updates: Bank Nifty shows lack of strength, may continue to consolidate

Nifty opened gap up however it reversed sharply and closed in the red down 73 points. Nifty witnessed selling pressure from the 25000 mark which coincides with high concentration of open interest on the call side implying resistance. On the downside the 20 week average (24730) which was defended well last week is being tested again. So there is a standoff between bulls and bears leading to heightened volatility. Overall, we expect a rangebound price action in the range 24500 – 25200 from short term perspective.

 

Bank Nifty opened with a huge gap up however was unable to sustain at higher levels and traded with a negative bias during the day. It closed down ~132 points. Inability to sustain at higher levels shows lack of strength and hence there is likely to further consolidation before any meaningful upside. On the upside 52250 – 52300 shall act as an immediate hurdle zone while 51100 – 51000 shall act as a crucial support zone.

(View by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas)

4:00 PM

Comment: Nifty could stay in the 25,234-24,832 band for the near term

Nifty ended lower on October 15 reacting to mixed set of corporate results. At close, Nifty was down 0.28 per cent or 70.6 points at 25057.4. Cash market volumes on the NSE rose 13 per cent compared to the previous session to Rs.1.03 lakh cr. Broad market indices ended in the positive even as the advance decline ratio fell to 0.91:1.

 

Asian shares were mixed on Tuesday after US markets rose overnight and Chinese stocks tumbled after a media report that detailed extra government borrowing to boost the economy appeared to underwhelm investors. European shares were little changed on Tuesday as oil prices dropped on a report that Israel will refrain from striking Iranian energy targets.

 

Investors are getting so bullish that it might be time to sell global stocks, according to an investor survey by Bank of America Corp. Equity allocations nearly tripled from last month, to a net 31 per cent overweight. 

 

Nifty slipped into weakness on October 15 and formed a reasonable bear candle. Nifty remains choppy even as the 25200 level proves difficult to breach on the upside. Nifty could stay in the 25234-24832 band for the near term.

(Comment by: Deepak Jasani, Head of Retail Research at HDFC Securities)

3:58 PM

Market View: FIIs continued their strategic buying in China while selling off in India

The domestic market displayed considerable volatility, with key indices swinging between negative and positive terrain. PBOC has further reduced interest rates by 25 bps to support its struggling economy.

Meanwhile, FIIs continued their strategic buying in China while selling off in India, driven by weaker corporate earnings and valuation concerns. Concurrently, domestic Q2 earnings have been mostly underwhelming, with major private sector banks notably disappointing. However, DIIs have offered some support, mitigating the market’s decline.

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

 

3:45 PM

Stock Market Highlights LIVE Updates: Bajaj-Auto, HDFC Bank rise up to 4% on NSE

On the NSE, Bajaj Auto was the gainer, rising 4.34 per cent, followed by the likes of HDFC Bank, Asian Paint, M&M and Eicher Motors.

3:42 PM

Stock Market Highlights LIVE Updates: Nifty Media, Metal, Realty fall up to 2%

Among sectors, Nifty Media fell the most, slipping 2.83 per cent at close, and was closely followed by Nifty Metal, Nifty Realty, Nifty FMCG and IT.

3:40 PM

Stock Market Highlights LIVE Updates: Broader markets bleed heavy

In the broader markets, the BSE MidCap index and the BSE SmallCap index fell 1.63 per cent and 1.51 per cent at close on Monday, respectively. 

3:36 PM

Stock Market Highlights LIVE Updates: Heatmap check - 22 out of 30 stocks end in red

On the BSE Sensex, Kotak Bank was top loser at close, down 4.66 per cent, followed by Bajaj Finserv, IndusInd Bank and Adani Ports. 

3:34 PM

Stock Market Highlights LIVE Updates: Nifty50 closes below 24,800

The NSE's Nifty closed at 24,781.10, down 72.95 or 0.29 per cent on Monday. 

3:33 PM

Stock Market Highlights LIVE Updates: Sensex ends flat, down marginally

At close, the BSE Sensex was down 73 points, or 0.09 per cent, at 81,151 level on Monday. 

3:20 PM

Stock Market LIVE Updates: MCX hits new peak on healthy Q2 results; stock zooms 406% in 17 months

Shares of Multi Commodity Exchange of India (MCX) hit a new peak of Rs 6,679, up 2 per cent on the BSE in Monday’s intra-day trade in an otherwise weak market. The buying interest at the counter can be attributed to healthy earnings for September quarter (Q2FY25), led by continued strong traction seen in option volume and streamlining of software related expenses.

In comparison, the BSE Midcap and Smallcap indices were down 1.6 per cent and 1.3 per cent, respectively, at 03.06 pm. Read more

3:17 PM

Stock Market LIVE Updates: UltraTech Cement shares slip as Q2 net profit plunges 36% to Rs 820 crore

UltraTech Cement shares slipped over 2 per cent in Monday's afternoon trade on the BSE to register an intraday low of Rs 10,770.35 per share on the BSE. The stock declined after the company reported weak Q2FY25 results.

At around 2:17 PM, UltraTech Cement shares were down 2.16 per cent at Rs 10,822.35 per share on the BSE. In comparison, the BSE Sensex was up 0.12 per cent at 81,318.71, around the same time. The market capitalisation of the company around the time stood at Rs 3,12,382.4 crore. Read more

3:13 PM

Stock Market LIVE Updates: Housing sales in tier 2 cities down 13%, Bhubaneshwar sees worst decline

Housing sales in India's top thirty tier II cities fell 13 per cent in the July-September quarter of 2024 while new launches have declined by 34 percent,  according to a report by NSE-listed real estate data analytics firm PropEquity.

Housing sales fell to 41,871 units in Q3 2024 against 47,985 units in the same period last year while launches fell to 28,980 units in July-September quarter of 2024 from 43,748 units in the same period last year, the report said. Read more

3:02 PM

Stock Market LIVE Updates: 3 PM market update

At 3 PM, the BSE Sensex was up 36 points, or 0.05 per cent, at 81,261, while the Nifty 50 was at 24,803.75, down 50 points, or 0.2 per cent.

2:54 PM

Stock Market LIVE Updates: MRPL stock slumps 5% after co disappoints investors with weak Q2 show

Stock Market LIVE Updates: Shares of Mangalore Refinery and Petrochemicals Ltd (MRPL) dipped as much as 5.52 per cent at Rs 156.45 per share on the BSE in Monday’s intraday trade. The investors turned net sellers on the stock after the company, a subsidiary company of ONGC and Schedule ‘A’ Mini Ratna posted a net loss in its quarterly earnings for the second quarter of the financial year 2024-25 (Q2FY25). READ MORE

 

2:41 PM

Stock Market LIVE Updates: This realty stock has surged 50% in 2 weeks; zoomed 107% thus far in CY2024

Stock Market LIVE Updates: Shares of Ajmera Realty & Infra India hit a new high of Rs 908.05, surging 5 per cent on the BSE in Monday’s intra-day trade after the company’s board approved issue of equity shares to investor Mukul Mahavir Agrawal and Authum Investment & Infrastructure on a preferential basis. READ MORE

 

2:28 PM

Stock Market LIVE Updates: Amber Enterprises soars 14% ahead of Q2 results; zooms 106% in 7 months

Stock Market LIVE Updates: Shares of Amber Enterprises hit a new high of Rs 6,148.95, as they surged 14 per cent on the BSE in Monday’s intra-day trade ahead of the September quarter (Q2FY25) results on Tuesday, October 22. In comparison, the BSE Sensex was down 0.11 per cent at 81,137.25 at 01:47 pm. READ MORE

 

2:12 PM

Stock Market LIVE Updates: UltraTech Cement reports 36% YoY decline in Q2 net profit at Rs 820.04 crore

Stock Market LIVE Updates: UltraTech Cement reported consolidated revenues of Rs 15,634.7 crore, down 2.4 per cent YoY from Rs 16,012 crore in the year ago period.

Ebitda came in at Rs 2,018.27 crore, down 20.9 per cent from Rs 2,550.89 crore in the year ago period.

Profit for the quarter declined 36.01 per cent to Rs 820.04 crore, from Rs 1,281.45 crore in the year ago period.

 

2:04 PM

Stock Market LIVE Updates: 2 PM market update: Sensex, Nifty climb into green

Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50, off their day's low, had climbed into positive territory on Monday.

At 2 PM, the BSE Sensex was up 172 points, or 0.21 per cent, at 81,396, while the Nifty 50 was at 24,870, up 16 points, or 0.07 per cent.

 

2:00 PM

Stock Market LIVE Updates: Mark Mobius' excitement about India speaks volumes, says PM Modi

Stock Market LIVE Updates: Indian Prime Minister Narendra Modi in his address at the NDTV World Summit, emphasized the growth of India and global investors eyeing the Indian markets. PM Modi also pointed out Mark Mobius' longstanding 'love' for India. "Mark Mobius is one of the many persons who loves India. His excitement about the opportunities here speaks volumes. When he suggests that global funds should invest at least 50 per cent in the Indian stock market, it carries a significant message," Modi said. READ MORE

1:57 PM

Stock Market LIVE Updates: Allied Blenders and Distillers Limited adds Premium Vodka to its portfolio

Stock Market LIVE Updates: Allied Blenders and Distillers Limited adds Premium Vodka to its portfolio

-- Partners with Roust Corporation to Launch Russian Standard Vodka in India

Source: BSE

1:55 PM

Stock Market LIVE Updates: UAE supermarket chain Lulu to offer 25% stake in IPO, list on Adx

Stock Market LIVE Updates: Lulu Retail Holdings, which runs one of the Middle East's biggest hypermarket chains, kicked off an initial public offering on Monday that bankers say could be the UAE's largest this year. The offering by the conglomerate that runs more than 240 stores in the six countries belonging to the Gulf Co-operation Council comes during a retail spending boom in the region that is spurring domestic listings by companies in the sector. READ MORE

1:46 PM

Stock Market LIVE Updates: Gold, Silver Samvat 2081 outlook: Will precious metals continue to sparkle?

Stock Market LIVE Updates: The outgoing Samvat 2080 proved to be a good year for precious metal investors as gold (up 39.7 per cent) and silver (44.3 per cent) generated sparkling returns over the past one year. By comparison, the equity benchmark indices in India -- BSE Sensex and NSE Nifty50 -- have gained 25.1 per cent and 27.9 per cent, respectively during this period. READ MORE

 

1:45 PM

Stock Market LIVE Updates: Veranda unit ties up with UTS to launch courses for working professionals in India

Stock Market LIVE Updates: Veranda Learning today informed that its arm Veranda HigherEd, has launched two cutting-edge short courses in partnership with Australia-based University of Technology Sydney (UTS). 

The company, in an exchange filing, said, "The offerings include courses in Digital and Social Media Marketing and Business Analytics, designed to equip professionals with the skills needed to thrive in today’s dynamic business environment.

 

1:33 PM

Stock Market LIVE Updates: Waaree Renewables's IPO oversubscribed nearly 2x; Retail section sees 2x bookings

Stock Market LIVE Updates: Waaree Renewables's IPO has received bids for nearly twice the amount of shares on offer.

Retail investors have bid for 2,08,35,612 shares of the company, against 1,03,50,288 shares on offer in the category, which comes out to more than twice the bids for the number of shares on offer.

Meanwhile, the section reserved for Non institutional investors received bids for 1,80,29,223 shares, against 44,35,838 shares on offer. 

Overall, Waaree Renewables IPO has received bids for 3,93,95,844 shares, against 2,10,79,384 shares on offer, which works out to 1.89x oversubscription

 

1:22 PM

Stock Market LIVE Updates: Oberoi Realty gets Rs 1,348 cr gross bookings for Oberoi Garden City Thane

Stock Market LIVE Updates: Oberoi Realty today informed that it has launched its integrated development project, Oberoi Garden City Thane at Pokhran Road No 2 on Friday, October 18 2024, and recorded gross booking value of approximately Rs 1,348 crore for 5.65 lakh sq. ft (carpet area) over the first three days.

The company, in an exchange filing, said, "The first phase of the development will consist of 5 Residential Towers with expansive gardens and bookings for 2 towers commenced on 18th October 2024. The homes at Oberoi Garden City Thane will comprise of spacious 3-bedroom and 3-bedroom + studio apartments starting from 1,475 sq, ft and will rise over 65 stories." 

 

1:11 PM

Stock Market LIVE Updates: GRSE share price up 6% on securing contract worth Rs 491 crore from DRDO

Stock Market LIVE Updates: Shares of Garden Reach Shipbuilders & Engineers (GRSE) surged up to 5.94 per cent to hit an intraday high of Rs 1,870 per share on Monday, October 21, 2024.

 

The rise in GRSE share price was fuelled by a Rs 491-crore order win from Naval Physical & Oceanographic Laboratory, Gol, Ministry of Defence DRDO, Kochi. READ MORE

 

1:02 PM

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

Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50 were trading in the red, dragged by private banks and FMCG stocks.

At 1 PM, the BSE Sensex was down 261 points, or 0.32 per cent, at 80,963, while the Nifty 50 was at 24,728, down 125 points, or 0.51 per cent.

 

12:50 PM

Stock Market LIVE Updates: UltraTech shares muted ahead of Q2 results; Revenue to fall, say analysts

Stock Market LIVE Updates: Shares of India’s largest cement producer, UltraTech Cement were trading lower ahead of the company’s announcement of its second quarter financial year 2024-25 results today.

 

At 11:25 AM, the company’s stock was trading at 10,960, down 0.91 per cent, compared to the BSE Sensex’s decline of 0.12 per cent, at 81,128, around the same time. READ MORE

 

12:37 PM

Stock Market LIVE Updates: Godrej Properties buys 3 acre land with Rs 1,300 cr booking value in Ahmedabad

Stock Market LIVE Updates: Godrej Properties today informed that it has acquired approximately three acres of land in Vastrapur, Ahmedabad, that has a development potential of 0.9 million square feet of saleable area. 

The company, in an exchange filing, said, "The development on this land is estimated to have a potential of ~0.9 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated booking value of approximately Rs 1,300 crore".

 

12:31 PM

Stock Market LIVE Updates: Gensol, Matrix bag Rs 321-cr project for India’s first green hydrogen steel plant

Stock Market LIVE Updates: Gensol Engineering today informed that it has partnered with Matrix Gas & Renewables to develop India’s first and largest green steel production facility. 

The company, in an exchange filing, said "this facility will utilise 100 per cent Green Hydrogen." 

"It is one of three pilot projects sanctioned under the National Green Hydrogen Mission by MECON, in alignment with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE)," the company stated in its exchange filing.

The project’s total capex is estimated at Rs 321 crore, with the Government of India providing 50 per cent capex incentives to support the initiative.