Market Close Highlights, Oct 10: Sensex adds 144 pts, Nifty nears 25,000; Banking shares shine

Stock Market Close Highlights, Oct 10, 2024: Kotak Mahindra Bank, JSW Steel, HDFC Bank, Bharat Electronics, and IndusInd Bank were among the 23 constituent stocks of the Nifty50 that ended in the gree

3:58 PM

Stock Market Highlights LIVE Updates: Broader market mixed as expectation of Q2FY25 results is subdued

The market traded on a range bound trend with a negative bias ahead of the start of Q2 result.The Asian market started well but could not hold on to the gains as European markets waved on a negative trend in anticipation of the key US inflation data, global bond yields are rising.

Domestic broader market momentum was mixed with caution as the initial expectation of Q2FY25 results is subdued due to a subpar momentum in the global and rural demand.

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

3:48 PM

Stock Market Highlights LIVE Updates: More steam left in Nifty50 for the upside towards 25,350 – 25,500

Nifty opened with gains, however could not continue with the positive momentum and traded within a range to close marginally in the green up ~25 points. On the daily charts we can observe that the Nifty is in the process of retracing the 1500 fall. We believe that the retracement is not complete and there is more steam left for the upside towards 25350 – 25500. Thus, this current consolidation phase should be used as a buying opportunity. Crucial support zone is placed at 24900 – 24850 and should be kept as a stoploss for the long positions.

 

Bank Nifty witnessed a pullback to the key hourly moving averages (51700 – 51800) zone. We expect the pullback to continue on the upside and towards 52000 – 52400. The upmove is likely to be slow and gradual as there is selling pressure coming in at higher levels. Overall, we believe that the index is likely to trade with a positive bias and hence this intermediate correction should be considered as a buying opportunity.

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

3:45 PM

Stock Market Highlights LIVE Updates: Broader market check

Trends were mixed in the broader markets at Thursday's closing bell, as BSE MidCap index fell 0.36 per cent, while BSE SmallCap rose 0.43 per cent. 

3:41 PM

Stock Market Highlights LIVE Updates: Nifty Pharma, Healthcare end as top losers in sectoral trends

Among sectors, Nifty Pharma fell the sharpest, slipping 2.01 per cent, while Nifty Healthcare dropped by 1.95 per cent. On the filip side, Nifty Bank, Nifty Financial Services and Nifty Auto finished in green. 

3:40 PM

Stock Market Highlights LIVE Updates: Cipla, Tech Mahindra, and Trent fall up to 3% on NSE

On the NSE, Cipla, Tech Mahindra, and Trent were among top losers, falling up to 3%, followed by Sun Pharma and Infosys.

3:35 PM

Stock Market Highlights LIVE Updates: Heatmap check

On the BSE Sensex, Kotak Mahindra Bank was the top winner, ending 3.90 per cent higher, and closely followed by JSW Steel and HDFC Bank among others. 

3:34 PM

Stock Market Highlights LIVE Updates: Nifty closes below 25k

The NSE's Nifty 50 closed at 24,998, up 16 points, or 0.07 per cent on Thursday.

3:32 PM

Stock Market LIVE Updates: Sensex ends over 100 points higher

The BSE Sensex was ended 144 points, or 0.18 per cent, at 81,611 level on Thursday. 

3:23 PM

Stock Market LIVE Updates: Net equity inflow in mutual funds at Rs 34,393 cr for September

For the month of September, the net equity inflow in mutual funds came in at Rs 34,393 crore versus Rs 38,212.4 crore in August. The mutual fund (MF) industry’s net assets under management (AUM) marginally increased by 0.58 per cent to Rs 67,09,259 crores at the end of September 2024, as against Rs 66,70,305.14 crores as on August 31,2024 as per data released by the Association of Mutual Funds in India.

Sectoral funds got major inflow to the tune of Rs 22,244 crs. The total folios count of 21.05 crs are at all-time high in September 2024.

3:10 PM

Stock Market LIVE Updates: Power Grid Corporation bags new project; shares up 3%

Shares of state-owned power generation Maharatna company, Power Grid Corporation of India jumped 2.73 per cent to the day's high of Rs 338 on the BSE during the intra-day deals on Thursday. Read more

3:05 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was up 139 points, or 0.17 per cent, at 81,606, while the Nifty 50 was at 24,993, up 11 points, or 0.05 per cent.

 

3:00 PM

Stock Market LIVE Updates: Tata Consultancy cancels Q2 earnings press events after Ratan Tata's death

Stock Market LIVE Updates: Tata Consultancy Service (TCS), which on Thursday had to release its second-quarter earnings for FY25, has cancelled a earnings press conference and subsequent interviews, Moneycontrol reported. This decision comes in the wake of the death of Ratan Tata, the former chairman of Tata Sons, who breathed his last on Wednesday evening. A press conference by the TCS leadership was originally scheduled for 5.30 pm. READ MORE

 

2:44 PM

Stock Market LIVE Updates: Torrent Pharma to announce Q2FY25 results on October 25

Stock Market LIVE Updates: “We would like to inform you that a meeting of the Board of Directors will be held on Friday, October 25, 2024, inter alia, to consider and approve the Audited Financial Results on Standalone basis and Unaudited Financial Results (with limited review) on Consolidated basis of the company for the quarter and half year ended on 30-Sep-24,” Torrent Pharma said in a statement.

 

2:40 PM

Stock Market LIVE Updates: TRIL reports Q2 results

Stock Market LIVE Updates: Transformers and Rectifiers (India) Limited (TRIL) consolidated Q2 profit jumped to Rs 45.9 crore in September quarter of FY25 (Q2FY25). The company's revenue from operation ssurged to Rs 461.5 crore during the same period.

Source: BSE

2:36 PM

Stock Market LIVE Updates: Arvind SmartSpaces surges 3% on bookings worth Rs 500 cr for Aqua City

Stock Market LIVE Updates: Shares of Arvind SmartSpaces jumped up to 3 per cent at Rs 865 per share on the BSE in Thursday’s intraday trade. Arvind SmartSpaces share price gained after the company announced bookings of over Rs. 500 crore at Arvind Aqua City, its largest township development to date, launched towards the end of September. READ MORE

 

2:33 PM

Stock Market LIVE Updates: Star Health investigates alleged role of security chief in data leak

Stock Market LIVE Updates: India's Star Health is investigating accusations that its chief information security officer played a role in a data leak by a self-styled hacker who used Telegram chatbots and websites to disseminate customers' medical records and personal data. READ MORE

 

2:30 PM

Stock Market LIVE Updates: Gujarat Fluoro rallies 7%, hits new high on hopes of strong FY25 earnings

Stock Market LIVE Updates: Gujarat Fluorochemicals (GFL) shares hit a record high of Rs 4,696.35 as they rallied 7 per cent on the BSE in Thursday's intraday trade on expectation of a significant earnings recovery in the financial year 2024-25 (FY25). The stock surpassed its previous high of Rs 4,531.50 touched on September 17, 2024. In the past five weeks, it has zoomed 52 per cent. A sharp rally in Gujarat Fluorochemicals stock price has seen the company's market capitalisation to cross Rs 50,000-crore mark for the first time. READ MORE

2:22 PM

Stock Market LIVE Updates: Suzlon gets Jindal Renewables wind plant deal for green steel production

Stock Market LIVE Updates: Suzlon said on Thursday it had won a 400 megawatt (Mw) order from JSP Green Wind 1, a special-purpose vehicle of Jindal Renewables, to decarbonise steel production. The project is the largest commercial and industrial wind energy order in India, according to a joint press statement. Suzlon will install 127 wind turbine generators (WTGs) with a rated capacity of 3.15 Mw each, utilising Hybrid Lattice Tubular (HLT) towers in Koppal region in Karnataka. RAED MORE

2:16 PM

Stock Market LIVE Updates: Why Samir Arora thinks investing in Auto industry is a 'Ridiculous Trade'?

Stock Market LIVE Updates: As the Indian markets braces for the opening of the initial public offering (IPO) of Hyundai Motor India, which will be the first IPO from the auto industry in two decades following Maruti Suzuki's listing in 2003, Samir Arora of Helios Capital says that the auto industry does not seem to be a lucrative place to invest in. Notably, with the IPO, the South Korean carmaker Hyundai seeks to raise Rs 27,856 crore by offloading up to 14,21,94,700 equity shares from its India arm. READ MORE

 

2:10 PM

Stock Market LIVE Updates: GM Breweries down 6% after reporting weak Q2FY25 results; profit slips 3%

Stock Market LIVE Updates: GM Breweries' share price lost as much as 6.4 per cent on Thursday (October 10) and logged an intraday low of Rs 805 per share. The selling in the stock came after the company released its Q2FY25 results. At around 12:44 PM, GM Breweries shares were down 3.15 per cent at Rs 832.75 per share. In comparison, the BSE Sensex was up 0.30 per cent at 81,708.93 at around the same time. READ MORE

2:02 PM

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

Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50 were trading higher on Thursday, tracking overnight gains on the Wall Street, along with gains in the Asia Pacific markets. 

At 2 PM, the BSE Sensex was up 219.19 points, or 0.27 per cent, at 81,686, while the Nifty 50 was at 25,019, up 38 points, or 0.15 per cent.

1:49 PM

Stock Market LIVE Updates: Defence stocks soar up to 7% after govt okays building 2 nuclear submarines

Stock Market LIVE Updates: Shares of Mazagon Dock Shipbuilder, Cochin Shipyard, Hindustan Aeronautics (HAL), among other defence-related companies, rallied up to 7.6 per cent in Thursday's intraday trade.

 

Stocks of companies involved in the defence sector climbed a day after the government's Cabinet Committee on Security cleared major deals for building two nuclear submarines indigenously, apart from buying 31 predator drones from the US. READ MORE

1:37 PM

Stock Market LIVE Updates: RBI's caution against inflation may halt rally in FMCG stocks: Analysts

Stock Market LIVE Updates: The Reserve Bank of India's (RBI's) caution on inflation, highlighted during the October monetary policy meeting, may put investors' faith in fast moving consumer goods (FMCG) stocks to test, analysts said.  

They, however, believe FMCG stocks may ride through this near-term investor anxiety as related companies are, typically, well-equipped to handle inflation due to their pricing power and steady demand for essential goods. They suggest investors use any near-term dips to accumulate quality stocks for the long-term. READ MORE

1:27 PM

Stock Market LIVE Updates: IIFL Finance shares jump 4% after board approves NCD issue worth Rs 150 cr

Stock Market LIVE Updates: IIFL Finance share price today jumped up to 4.24 per cent at Rs 473 per share on the BSE in Thursday’s intraday trade. This came after the company’s board approved an non convertible debentures (NCDs) issue of Rs 150 crore. 

 

The securities being offered are unsecured redeemable NCDs–Series D26, with a private placement issuance type. READ MORE

 

1:14 PM

Stock Market LIVE Updates: Adani group seeks $1 bn funding from sovereign fund for airport expansion

Stock Market LIVE Updates: The Adani Group is in advanced discussions with a Middle Eastern sovereign fund to raise up to $1 billion for its airports division, according to a report by The Economic Times.

 

These fundraising efforts coincide with Adani Enterprises’ launch of a qualified institutional placement (QIP) on Wednesday, aiming to secure up to Rs 4,200 crore ($500 million), which is lower than initially targeted due to global market fluctuations, the report said. READ MORE

 

1:02 PM

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

Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50 were trading higher on Thursday, tracking overnight gains on the Wall Street, along with gains in the Asia Pacific markets. 

 

At 1 PM, the BSE Sensex was up 173 points, or 0.21 per cent, at 81,640, while the Nifty 50 was at 25,017, up 35 points, or 0.14 per cent.

12:53 PM

Stock Market LIVE Updates: Ashoka Buildcon up 5% as JV emerges lowest bidder for order of Rs 1,668 cr

Stock Market LIVE Updates: Construction major Ashok Buildcon shares rallied up to 5.27 per cent to an intraday high of Rs 252.40 per share on October 10, 2024. 

The rise in the share price came after the company announced that its joint venture (JV) has emerged as the lowest bidder for a project of Rs 1,667.78 crore from City & Industrial Development Corporation of Maharashtra Limited (CIDCO). READ MORE

12:53 PM

Stock Market LIVE Updates: DLF surges 3% on reports of launching India's costliest project in Gurugram

Stock Market LIVE Updates: Share price of real estate giant DLF surged up to 878.20 a piece on Thursday, rising 3.03 per cent intraday amid reports of launching a super luxury residential project in Gurugram. 

 

According to reports,  DLF is set to launch what could be India’s most expensive super luxury high-rise condominium in terms of carpet area—DLF The Dahlias. Located directly across from the existing Camellias on Gurgaon’s Golf Course Road. READ MORE

12:30 PM

Stock Market LIVE Updates: What's driven a 200% rally in this power tech co in 2024 so far? Details

Stock Market LIVE Updates: Shares of Hitachi Energy India hit a new high of Rs 15,626.10, as they rallied 7 per cent on the BSE in Thursday’s intraday trade on a strong outlook.

 

In the past three trading days, the stock of the power technology firm has surged 15 per cent after the company announced its plans to invest around Rs 2,000 crore to expand its capacity, portfolio and talent base.
 

Thus far in the calendar year 2024, the stock price of Hitachi Energy India has zoomed nearly 200 per cent from the level of Rs 5,250 at the end of calendar year 2023. In comparison, the BSE Sensex was up 13 per cent during the same period. READ MORE

12:14 PM

Stock Market LIVE Updates: 5 lesser-known Tata Group shares have surged up to 90% in 2024; what next?

Stock Market LIVE Updates: Tata Group stocks have been significant wealth creators for investors over time. Companies such as Tata Consultancy Services (TCS), Tata Motors, Tata Steel and Tata Consumer Products are a household name in India.

 

Paying tribute to the former Tata Group chairperson Ratan Tata, investors should learn from the growth of the Tata Empire that a long-term investment horizon is required to really participate in the wealth creation that happens through the capital market, Dr. V K Vijayakumar, Chief Investment Strategist of Geojit Financial Services said in a note. READ MORE