Business Standard

Sensex rises for 3rd day, up 787 pts; Nifty tops 18K amid broad-based rally

CLOSING BELL: The Financial Services, IT, Pharma, Auto, and Consumer Durable indices gained over 1 per cent each, while others added up to 1 per cent

Image SI Reporter New Delhi
Sensex rises for 3rd day, up 787 pts; Nifty tops 18K amid broad-based tally


Stock market highlights: 
Domestic equities extended their gains into third straight day on Monday as global markets bounced back. The S&P BSE Sensex surged 787 points, or 1.3 per cent, to end at 60,747. The Nifty50, meanwhile, shut shop at 18,011, up 225 points or 1.26 per cent.

In the broader market, the BSE MidCap, and SmallCap indices edged 1.24 per cent, and 0.45 per cent higher, respectively.

Gains were broad-based as all the sectoral indices ended higher. The Financial Services, IT, Pharma, Auto, and Consumer Durable indices gained over 1 per cent each, while others added up to 1 per cent.

Among individual stocks, Ultratech Cement, Sun Pharma, HDFC twins, L&T, M&M, Bajaj twins, Bharti Airtel, Asian Paints, Infosys, Tech M, Kotak Bank, HUL, Titan, and ITC jumped in the range of 1 per cent to 4 per cent. On the downside, NTPC, Dr Reddy's Labs, IndusInd Bank, and Nestle were the only Sensex losers, down up to 0.7 per cent.

Global cues
European markets were cautious on Monday morning as investors awaited key economic data out of the euro zone. The pan-European Stoxx 600 was down 0.2 per cent in early trade, with basic resources falling 0.7 per cent, while telecoms added 0.2 per cent.

Elsewhere in Asia-Pacific, shares were mostly higher on Monday as China factory activity missed expectations, and markets looked ahead to the US Federal Reserve meeting later this week. Nikkei advanced 1.8 per cent, Kospi 1.1 per cent, and ASX200 1.15 per cent. Hang Seng, however, dipped 1.2 per cent.
4:22 PM

MARKET COMMENT :: 'Participants should look for buying opportunities on every dip'

Markets started the week on a robust note and gained over a percent, tracking firm global cues. After the gap-up start, the Nifty hovered in a narrow range for most of the day and buying in the last hour helped the index to reclaim 18,000 levels. Healthy buying was witnessed across sectors while the broader indices continue to trade mix.
The buoyancy in the global markets, especially the US, combined with favourable domestic cues is helping the markets to maintain the prevailing recovery. And, we expect the Nifty to regain momentum above the 18,100 level. In line with the trend, participants should look for buying opportunities on every dip and avoid contrarian trades.

Views by: Ajit Mishra, VP - Research, Religare Broking
4:08 PM

JM Financial Mutual Fund launches NFO JM Midcap Fund

>> JM Financial Mutual Fund (JMFMF) has announced the launch of JM Midcap Fund, an open-ended equity scheme predominantly investing in mid cap stocks.

>> The NFO will open for subscription on October 31, 2022 and closes on November 14, 2022.  
4:00 PM

MARKET COMMENT :: The outcome of US Fed, RBI meeting will decidedly affect the stock market trend

The buoyancy of Wall Street was reflected well in the domestic market, also supported by sliding Oil prices following weak Chinese factory data. US stocks recovered from a tech sell-off on hopes that the Fed would hint towards dialling down big interest-rate hikes. The outcome of the Fed & RBI meeting this week will decidedly affect the stock market trend.

Views by: Vinod Nair, Head of Research at Geojit Financial Services
3:59 PM

Tech View :: Support is visible at 17,850/17,700

The Nifty has moved up after a consolidation breakout on the daily chart, suggesting a rise in optimism. On the daily timeframe, the index has sustained above the crucial moving average, confirming the short term uptrend. Over the short term, the trend may remain positive. On the lower end, support is visible at 17850/17700; resistance on the higher end is placed at 18100/18300.

Views by: Rupak De, Senior Technical Analyst at LKP Securities
3:57 PM

CURRENCY CHECK :: Rupee ends weaker at 82.78/$

>> This is against Friday's close of 82.47/USD 

3:55 PM

Buzzing stocks :: Titan ends off record highs

Shares of Titan Company gained 2 per cent to hit a record high of Rs 2,790 per share in Monday’s intra-day trade, on hopes of strong September quarter (Q2FY23) earnings. The stock has surpassed its previous high of Rs 2,767.55, which it had touched on March 21, 2022. READ MORE
3:52 PM

Buzzing stocks :: L&T hits 9-month high ahead of Q2 earnings

Shares of Larsen & Toubro (L&T) edged 2.5 per cent up to hit a nine-month high of Rs 2,024 on the BSE in Monday’s intra-day trade after the engineering & construction company said it won significant orders for its power transmission & distribution business. READ MORE

3:51 PM

Buzzing stocks :: Bandhan Bank hits 10% lower circuit

Shares of Bandhan Bank slipped 10 per cent and hit 10-month low of Rs 244.55 per share in Monday’s intra-day trade after the private sector lender reported a weak operational performance for the quarter ended September 2022 (Q2FY23). The stock traded at its lowest level in calendar year 2022 (CY22). READ MORE

3:50 PM

HDFC twins, Bajaj Finserv lead Financial Services Index

3:49 PM

Auto stocks buzz in trade :: Eicher Motor, M&M, Ashok Leyland rally up to 3%

3:48 PM

BSE SmallCap index :: Underperforms peers; Sportking India, Intellect Design Arena top laggards

3:47 PM

BSE MidCap index :: Max Health, JSW Energy leap up to 6%; index up 1.24%

3:46 PM

Broader market check :: Sea of green across indices

3:41 PM

Sectoral Trends :: All indices end in the positive zone; autos in fast lane

3:38 PM

Sensex Heatmap :: Only 3 stocks sit in red; Ultratech, M&M lead gains

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First Published: Oct 31 2022 | 8:05 AM IST

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