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Market Outlook: Nifty, Bank Nifty on divergent path; 2 stocks to short
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Sensex snaps 4-day losing streak, ends 145 pts up; broader indices decline

Stock market LIVE: The Bank Nifty ended 2 per cent higher at fresh record highs, while the broader indices - both BSE Mdicap and Smallcap declined around 1.7 per cent each

MARKET LIVE | Reliance Industries | ICICI Bank

SI Reporter  |  New Delhi 

Stock market, BSE, sensex, markets
Photo: Bloomberg

Closing Bell

The broader traded on a weak note for yet anothe day, with selling evident in IT, realty, auto and FMCG shares. However, the key benchmark indices managed to end with marginal gains, thanks to .

The BSE benchmark index, opened nearly 600-points higher at 61,400-odd levels on the back of early gains in and owing to strong Q2 performance. The BSE index, however, soon wiped out gains and slipped into the negative zone as weakess emerged in IT and select index heavyweights.

The BSE index after touching a low of 60,450, bounced back into the positive zone as and select banking shares extended gains. The Sensex finally snapped its 4-day losing streak and ended 145 points higher at 60,967.

The NSE Nifty dipped below the 18,000-mark in intrday trades to touch a low of 17,969, but evenutally settled at 18,125, up 10 points. India VIX was up 0.4 per cent at 17.61.

The Bank Nifty scaled a fresh all-time high at 41,830, and ended 2.2 per cent higher at 41,192. Among other sectors, the NSE Realty index dropped 2.8 per cent, and the Auto index slipped 1.8 per cent. The FMCG and IT indices were down around a per cent each.

Among the Sensex 30 stocks, ICICI Bank zoomed 11.6 per cent to Rs 847 after reporting highest-ever Q2 net profit. The stock alone contributed 549 points to the BSE Sensex and was largely responsible for today's positive close.

Axis Bank was the other major gainer, up 3.5 per cent at Rs 846 a day ahead of its Q2 numbers.

On the flip side, Bajaj Finsev slipped over 3 per cent to Rs 18,069, and Bajaj Auto shed 2.7 per cent at Rs 3,760. Maruti, HCL Technologies and Asian Paints were the other major losers, down over 2 per cent each.

Reliance after testing a high of Rs 2,699, ended a per cent lower at Rs 2,602 despite strong Q2 numbers.

The overall breadth was also fairly negative, with 2,312 declining stocks versus 1,047 advancing shares on the BSE.
at 02:30 PM

LIVE market updates: The key benchmark indices have erased most of their gains on the back of weakness in select IT and financial shares.

The BSE Sensex was up 130 points at 60,952, and the NSE Nifty was up 12 points at 18,127. India VIX was up 2.8 per cent at 18.04.

Bajaj Finserve has slipped over 3 per cent to Rs 18,084. Asian Paints, Bajaj Auto, HCL Technologies, Maruti, HDFC Bank and IndusInd Bank were the other major losers. ICICI Bank, however, continues to trade on a firm note, up 11 per cent.

Broader also extended losses, the BSE Midcap and the Smallcap indices were down 1.6 per cent each.
Markets at Lunch (01:30 PM)

LIVE market updates:
The markets have firmed up in trades as banking shares extend gains. The BSE Sensex was up 230 points at 61,052, and the NSE Nifty was up 35 points at 18,150.

ICICI Bank continues to remain the top gainer, up 12 per cent at Rs 851. The stock alone has contributed 576 points to the BSE Sensex.

Axis Bank has gained 4.7 per cent a day ahead of its . SBI trades at fresh life-time high, up 2 per cent.

On the flip side, Asian Paints, HCL Technologies, Bajaj Finserve, Bajaj Auto and Maruti Suzuki were down over 2 per cent each.

Meanwhile, the European markets have started trade on a quiet note. The FTSE 100 was up 0.3 per cent and the DAX 30 up 0.1 per cent. The CAC 40, however, was down 0.1 per cent.
Markets at 12 NOON

LIVE market updates:
The markets have firmed up in trades as banking shares extend gains. The BSE Sensex was up 290 points at 61,112, and the NSE Nifty was up 45 points at 18,160.

The broader markets, however, continue to trade on a weak note. The BSE Midcap and Smallcap indices were down around 1.5 per cent each. The breadth too was fairly negative, with 2,193 declining stocks as against 985 advancing shares on the BSE.

In the broader markets, IRCTC has slumped 10.5 per cnet. CoForge, Apollo Pipes, Zensar Technologies, Suven Life and Sasken Communications are some of the other major losers.

Tatva Chintan has zoomed over 17 per cent to Rs 2,488.90 on the BSE in Monday’s intraday trade after the company reported a robust set of numbers for the quarter ended September 2021 (Q2FY22), on back of higher revenue. READ MORE

Elsewhere in Asia, Nikkei declined 0.6 per cent. Straits Times was down 0.1 per cent, while Hang Seng was flat. On the other hand, Kospi gained 0.6 per cent. Shanghai Composite was up 0.4 per cent, and the S&P/ASX200 added 0.3 per cent.
Markets at 11 AM

LIVE market updates:
The markets have recouped losses led fresh buying in select index heavyweights at lower levels and continued buying support in banking shares. ICICI Bank has now soared 11 per cent to Rs 841.

The BSE Sensex, which, touched a low of 60,450, was up 32 points at 60,854. The NSE Nifty was down 21 points at 18,094. The Bank Nifty has hit a fresh life-time high at 41,284, and was up 1.9 per cent at 41,089.

Barring the banking index all sectoral indices are in red. The BSE Realty index has plunged nearly 3 per cent, and the IT index has shed 2 per cent. The Auto and FMCG indices were down a per cent each.

The overall market breadth was fairly negative, with 2,251 declining stocks versus 854 advancing shares on the BSE.
Markets at 10 AM

LIVE market updates
: Erasing morning gains, domestic equities cracked on the bourses dragged by all but the banking stocks. The benchmark was quoting 346 points lower at 60,475 levels at 10:00 AM, while the index slipped below the 18,000-mark at 17,981, down over 100 points.



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First Published: Mon, October 25 2021. 08:05 IST