Market Highlight, Oct 31: IT stocks drag Sensex, Nifty on last Samvat 2080 day; Muhurat trading eyed

Stock Market Highlights: Benchmark equity indices BSE Sensex and Nifty 50 settled in red on Thursday

3:58 PM

Stock Market Highlights LIVE Updates: Sentiment may continue to be weak as long as Nifty stays below 24,500

The Nifty index remained volatile before closing on a negative note. On the hourly chart, it encountered resistance around the 50 EMA, leading to a pullback toward 24,200. Sentiment may continue to remain weak as long as Nifty stays below 24,500, with any rise toward this level likely facing selling pressure. On the downside, support is placed at 24,000, while resistance levels are seen at 24,500 and 24,750.

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

3:56 PM

Stock Market Highlights LIVE Updates: Core sector data, govt spend to influence Samvat 2081 strategy

The key benchmark indices traded with mild cuts while experiencing a broader sell-off in the technology sector due to weakness in the US IT companies, which has led the domestic IT companies to come under the shadow of underperformance. Investors remain cautious owing to weak domestic earnings for Q2.

However, the market expects the momentum to reverse in H2 due to a rebound in core sector data and government spending, which are likely to influence the Samvat 2081 investment strategy.

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

3:52 PM

Stock Market Highlights LIVE Updates: Stocks to buy, sell in Diwali Muhurat Trading 2024

From a medium to long-term perspective, we remain optimistic on Indian markets and expect indices to give returns in mid double digits over 12 months period. However, from a short-term perspective, markets will be volatile and can see 4-5 per cent correction.

We prefer large-cap stocks over mid and small-cap and expect heavyweight to outperform over next 12 months.

(View by: Aditya Agarwal Head of Derivatives & Technical Analysis at Sanctum Wealth)

3:51 PM

Stock Market Highlights LIVE Updates: Cipla, L&T and ONGC gain on NSE

Cipla was the top gainer on NSE, rising over 9 per cent, followed by L&T and ONGC. 

3:47 PM

Stock Market Highlights LIVE Updates: Nifty Pharma, Healthcare and Media end on top

In a weak market, sectors such as Nifty Pharma, Nifty Healthcare and Nifty Media ended the day in green in otherwise a sector wide weakness.

3:45 PM

Stock Market LIVE Updates: Broader indices mixed

The BSE SmallCap index outperformed benchmarks, rising 1.62 per cent, while the BSE MidCap index fell 0.34 per cent.

3:38 PM

Stock Market Highlights LIVE Updates: 22 out of 30 stocks end in red on Sensex

IT majors remained the top losers on the BSE Sensex at close on Thursday, with Tech Mahindra, HCL Tech and TCS falling the most. 

3:35 PM

Stock Market Highlights LIVE Updates: Nifty50 finishes below 24,250

NSE's Nifty50 settled at 24,205, down 135 points or 0.56 per cent. 

3:32 PM

Stock Market Highlights LIVE Updates: Sensex ends over 400 pts down

The BSE Sensex closed 411 points lower or 0.51 per cent at 79,530 level.

3:23 PM

Stock Market LIVE Updates | IPO calendar next week: Swiggy, 2 others to open; Afcons Infra to list

Beginning with the listing of Afcons Infrastructure on Monday, November 4, the upcoming week promises to be equally exciting for investors. The initial public offerings of online food delivery giant Swiggy, Sagility India, and ACME Solar Holdings from the mainline segment are scheduled to open for subscription. Simultaneously, Neelam Linens and Garments from the SME segment will also commence its public subscription process on Friday, November 8, 2024. READ MORE

3:14 PM

Stock Market LIVE Updates: Rupee hits record low of 84.1/$

Stock Market LIVE Updates: Rupee hits record low of 84.10 per US dollar in intraday trade

>> Indian rupee continues to trade below 84 per US dollar level

Source: Bloomberg

3:02 PM

Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty trade with losses

Stock Market LIVE Updates: Benchmark equity indices BSE Sensex and Nifty 50 were trading deep in red on Thursday, amid mixed global cues. 

At 3 PM, the BSE Sensex was down 579.61 points, or 0.73 per cent, at 79,362.57, while the Nifty 50 was at 24,192.50, lower by 148.35 points, or 0.61 per cent. 

 

2:54 PM

Stock Market LIVE Updates: HDB Financial, a unit of HDFC Bank, files for Rs 12,500 crore IPO

Stock Market LIVE Updates: India's HDB Financial Services, the non-banking lending unit of HDFC Bank, has filed for an initial public offering of up to Rs 12,500 crore ($1.49 billion), in line with its parent's announcement earlier this month.

 

HDFC Bank, which holds a 94.6 per cent stake in the lender, will sell shares worth up to Rs 10,000 crore, while HDB Financial will issue fresh shares worth up to Rs 2,500 crore, according to draft papers filed late on Wednesday. READ MORE

 

2:48 PM

Stock Market LIVE Updates: TP Gopalan Nambiar, founder of BPL Group, passes away at the age of 94

Stock Market LIVE Updates: TP Gopalan Nambiar, the founder of BPL Group, passed away at the age of 94 on Thursday. He died at his Bengaluru residence around 10.15 am. Popularly known as TPG, he was the father-in-law of BJP leader and former Union Minister Rajeev Chandrasekhar. He was not keeping well for quite some time.

 

Confirming the news, Chandrashekhar said on X (formerly Twitter): “It is with great sadness that I inform you all about the passing away of my father-in-law TPG Nambiar, Chairman BPL Group. Om Shanti. He was a true visionary and built one of India's most trusted consumer brands that remains popular to this day. I am pausing my Election campaign work and returning to Bengaluru to be with my family.” READ MORE

 

 

2:39 PM

Stock Market LIVE Updates: MOFSL promoters transfer 4,24,000 shares to Motilal Oswal Foundation for charity

Stock Market LIVE Updates: Motilal Oswal Financial Services today informed that its promoters Motilal Oswal and Raamdeo Agarawal have transferred 2,12,000 equity shares each, aggregating to 0.071 per cent of the total equity share capital of the company, to Motilal Oswal Foundation, for philanthropic reasions. 

According to the company's exchange filing, both Oswal and Agarawal, along with their family members, have pledged to donate 5 per cent equity share capital of the company by each of them, aggregating to 10 per cent of the total paid-up equity share capital of the company, towards charitable purposes.

The company, in an exchange filing, said, "In this regard, we are pleased to inform the Exchange that in order to achieve their philanthropic goal of making a positive impact on society and aligning with the Company’s core values of Social Responsibility and giving back to society, Mr. Motilal Oswal and Mr. Raamdeo Agarawal have transferred 2,12,000 Equity Shares each, aggregating to total 4,24,000 i.e. 0.071 per cent of total paid-up Equity Share Capital of the Company to Motilal Oswal Foundation (“MOFD”) on October 31, 2024."

2:26 PM

Stock Market LIVE Updates: Cube Highways: Rs 1,164.3 cr profit in H1FY25, Q2 distribution declared

Stock Market LIVE Updates: Infra investment trust Cube Highways Trust, managed by Cube Highways Fund Advisors on Thursday reported a consolidated net profit of Rs 1,164.3 crore for the first half of the financial year 2024-25 (H1FY25), driven by robust performance across its portfolio.

 

The total consolidated income for the period stood at Rs 1,689.1 crore, while the consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) was Rs 1,164.3 crore. READ MORE

 

2:13 PM

Stock Market LIVE Updates: Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

Stock Market LIVE Updates: Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP). READ MORE

2:01 PM

Stock Market LIVE Updates: Waaree Energies extends rally after strong debut; zooms 81% over IPO price

Stock Market LIVE Updates: Waaree Energies (Waaree) share price hit a new high of Rs 2,718.75 as it surged 12 per cent on the BSE in Thursday's intraday trade amid heavy volumes. The stock price of one of the leading Indian renewable energy companies, specialising in solar energy solutions, has zoomed 81 per cent against its issue price of Rs 1,503 per share. READ MORE 

 

1:55 PM

Stock Market LIVE Updates: Automotive Axles share drops over 5% as Q2 operating profit tanks 23% YoY

Stock Market LIVE Updates: Automotive components manufacturer, Automotive Axles, shares dropped up to 5.27 per cent to hit an intraday low of Rs 1,746.40 per share on Thursday, October 31, 2024. The fall in Automotive Axles share price came on the back of weak set of September quarter of financial year 2025 (Q2FY25) results announced on Wednesday, October 30, 2024. READ MORE

1:46 PM

Stock Market LIVE Updates: Insolation Energy up 7% as board to mull stock split on Nov 5

Stock Market LIVE Updates: Insolation Energy shares jumped 7.3 per cent in trade on Thursday and registered an intraday high of Rs 3,795 per share on BSE. The stock climbed after the company's board to consider stock split. Around 1:02 PM, Insolation Energy shares were up 6.08 per cent at Rs 3750.05 per share. In comparison, the BSE Sensex was down 0.66 per cent at 79,417. The market capitalisation of the company stood at Rs 7,812.1 crore. READ MORE

1:43 PM

Stock Market LIVE Updates: Swiggy IPO gets bids of $15 bn from big investors like Norges, Fidelity

Stock Market LIVE Updates: Big investors including Norway's sovereign wealth fund Norges and Fidelity have placed bids worth more than $15 billion in Swiggy's India IPO, 25 times the $605 million portion reserved for such investors, four sources told Reuters on Thursday.

 

Swiggy, a SoftBank-backed Indian food and grocery delivery giant, will next week launch its $1.35 billion IPO that will be country's second-biggest stock offering this year. The bidding process is ongoing. READ MORE

 

 

1:33 PM

Stock Market LIVE Updates: From Reliance to Unilever, firms worried about low consumer demand in India

Stock Market LIVE Updates: Consumer companies in India making everything from soaps to cars are sounding the alarm: the urban middle class continues to trim its spending for at least the second straight quarter as inflation and unemployment weigh on sentiment. 

 

At least seven of India’s largest companies, including Reliance Industries Ltd.’s retail arm and consumer bellwether Hindustan Unilever Ltd., have flagged softer consumption demand and a challenging operating environment in their earnings for the July to September quarter. READ MORE

 

 

 

1:15 PM

Stock Market LIVE Updates: Prudent Corporate Advisory jumps 12% to hit 52-wk high on strong Q2 numbers

Stock Market LIVE Updates: Shares of retail wealth management company Prudent Corporate Advisory Services climbed 11.63 per cent to a 52-week high of Rs 3,029.20 on the NSE during early trade in an otherwise weak market on Thursday. The uptick in the company’s stock price follows its strong financial results for the second quarter of the fiscal year 2024-25.

 

On October 30, the company informed the exchanges that its revenue from operations in Q2FY25 grew 51 per cent year-on-year to Rs 286.1 crore, driven by a 53 per cent increase in quarterly average AUM in the mutual fund segment, coupled with a 36 per cent growth in revenues from non-mutual fund products. READ MORE

 

1:03 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty trade in negative territory

Stock Market LIVE Updates: Benchmark equity indices BSE Sensex and Nifty 50 were trading deep in red on Thursday, amid mixed global cues. 

At 1 PM, the BSE Sensex was down 529.57 points, or 0.66 per cent, at 79,412.61, while the Nifty 50 was at 24,202.80, lower by 138.05 points, or 0.57 per cent. 

 

12:57 PM

Stock Market LIVE Updates: Ashok Leyland sets November 19 as record date for FY25 interim dividend

Stock Market LIVE Updates: Ashok Leyland today informed that the record date for the interim dividend for FY25, will be November 19, if the board approves the company's proposal to declare an interim dividend.

The company, in an exchange filing, said, "We write to inform you that pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board will inter alia consider amongst other agenda items, the proposal of declaring interim dividend on the equity shares of the Company for the FY 2024-25.
 

The Interim Dividend, if declared, by the Board of Directors of the Company, will have a Record Date as Tuesday, November 19, 2024."

12:44 PM

Stock Market LIVE Updates: Biocon shares tank 6% after reporting net loss of Rs 16 cr in Q2FY25

Stock Market LIVE Updates: Shares of pharmaceutical company Biocon tanked 5.96 per cent at Rs 301.65 a piece on the BSE. Biocon share price today fell in the early hours of trade after it reported a net loss in the second quarter of financial year 2024-25 (Q2FY25).

 

Biocon reported a consolidated net loss of Rs 16 crore for the second quarter ended September 30, 2024. Biocon Group CEO Peter Bains attributed the loss to the increased tax burden related to the geographical distribution of profits and minority interest. READ MORE

 

12:34 PM

Stock Market LIVE Updates: Why has this Mukul Agarwal portfolio stock soared 25% in 2 days? Details

Stock Market LIVE Updates: WPIL shares rallied 9 per cent to Rs 527 on the BSE in Thursday’s intra-day trade, extending its Wednesday’s surge in an otherwise subdued market on healthy earnings.

 

In two days, the stock of the pumps and pumping systems company has zoomed 25 per cent after it posted a 63.6 per cent year-on-year (YoY) jump in consolidated net profit at Rs 70.22 crore for the second quarter ended September 2024 (Q2FY25). The company had reported a net profit of Rs 40.81 crore in the year ago quarter. READ MORE

 

 

12:20 PM

Stock Market LIVE Updates: Buy or Sell? TCS, Maruti, HUL among 7 Nifty stocks trading in oversold zone

Stock Market LIVE Updates: The NSE Nifty 50 index has shed 7.7 per cent or over 2,000 points from its all-time high of 26,277, registered on September 27, 2024. The NSE benchmark index has traded with a negative bias for more than a month now, and was down 0.3 per cent in intra-day deals on Thursday.

 

In the process, the Nifty 50 index has broken below its short- and medium-term moving averages; namely the 20-, 50- and 100-DMA (Daily Moving Average). The NSE benchmark index has been quoting below its 100-DMA for the last 7 trading sessions. READ MORE

 

12:03 PM

Stock Market LIVE Updates: 12 PM market update - Sensex, Nifty trade with losses

Stock Market LIVE Updates: Benchmark equity indices BSE Sensex and Nifty 50 were trading deep in red on Thursday, amid mixed global cues. 

At 12 PM, the BSE Sensex was down 433.84 points, or 0.54 per cent, at 79,508.34, while the Nifty 50 was at 24,236.05, lower by 104.80 points, or 0.43 per cent. 

 

11:57 AM

Stock Market LIVE Updates: Swiggy IPO opens on November 6: Here's how GMP is faring ahead of opening

Stock Market LIVE Updates: The unlisted shares of food delivery giant Swiggy are trading at a premium in the grey market as the company prepares for its initial public offering (IPO), scheduled to open on Wednesday, November 6, 2024.

Grey market sources report that Swiggy’s shares, with a planned IPO size of Rs X crore, are currently priced at a Rs 25 premium—representing a 6.41 per cent gain over the IPO’s upper price band of Rs 390. Notably, Swiggy IPO grey market premium has dropped from Rs 130 recorded on October 28, 2024. READ MORE