sensex today: Stock Market Highlights: Nifty charts show positive momentum in the near term. What investors should do on Wednesday – Economic Times

Domestic equity index Nifty today closed above the 17,450 mark and formed a bullish candle with a long upper shadow on the daily charts. The momentum indicator RSI was rising and in a bullish crossover, suggesting a positive momentum in the near term.

“Support-based buying was seen at crucial support zones of 17,442 and held the index at higher zones. Now, it has to hold above 17,442 zones for an up move towards 17650 and 17,777 zones whereas supports are placed at 17,350 and 17,250 zones,” said Chandan Taparia of Motilal Oswal.

Options data suggests a shift in a trading range between 17,000 to 17,800 zones while an immediate trading range in between 17200 to 17700 zones.

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TV18 Broadcast Q2 Results: Profit falls 95.5% YoY to Rs 10.28 crore, revenue rises 12.6%

Media firm TV18 Broadcast Ltd on Tuesday reported a 95.55 per cent decline in its consolidated net profit to Rs 10.28 crore for the second quarter ended September 30, 2022. The company had posted a net profit of Rs 231.40 crore for the July-September period of the previous fiscal, TV18 Broadcast said in a regulatory filing.However, its consolidated revenue from operations rose by 12.65 per cent to Rs 1,473.43 crore compared to Rs 1,307.90 crore in the corresponding quarter a year ago.TV18 Broadcast’s total expenses were at Rs 1,485.95 crore, up 34.59 per cent from Rs 1,104 crore earlier.According to the company, economic sentiment remained weak during the quarter with high inflation posing a challenge for companies, especially in the FMCG sector.

Tech View: Nifty charts show positive momentum in the near term. What investors should do on Wednesday

Domestic equity index Nifty today closed above the 17,450 mark and formed a bullish candle with a long upper shadow on the daily charts. The momentum indicator RSI was rising and in a bullish crossover, suggesting a positive momentum in the near term.“Support-based buying was seen at crucial support zones of 17,442 and held the index at higher zones. Now, it has to hold above 17,442 zones for an up move towards 17650 and 17,777 zones whereas supports are placed at 17,350 and 17,250 zones,” said Chandan Taparia of Motilal Oswal.Options data suggests a shift in a trading range between 17,000 to 17,800 zones while an immediate trading range in between 17200 to 17700 zones.

The Bank nifty index continued its strong upward momentum and closed above the level of 40,000. The index is likely to move higher towards the levels of 41,000-41,500 and one should keep a buy approach on any decline. The lower end base has now been shifted upwards toward 39,500 where fresh put writing has been observed.

– Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

Market View: Ajit Mishra, VP – Research, Religare Broking

Markets inched higher for the second consecutive session and gained over a percent. Buoyancy in the global markets triggered a gap-up start in Nifty which further strengthened with the surge in index majors across sectors. It finally settled at 17,486.95 levels. All sectors contributed to the move wherein banking, energy, auto and FMCG were among the top performers. The broader indices also traded in sync with the move and gained nearly 1 percent each.

The recent rebound in the markets can be largely attributed to the recovery in the global indices while the earnings have been mixed so far. Importantly, Nifty has crossed the hurdle at 17,400 after two weeks of consolidation and we now expect a gradual recovery to the 17,600+ zone. Apart from the global markets, we feel participation of key sectors on a rotational basis would be critical for a sustained up move. Amid all positivity, traders should maintain their focus on overnight risk management.

EARNINGS WATCH | L&T TECH

Benchmark Indices gained a percentage today primarily led by the PSU Banks as the pick up in the corporate loan cycle and retail loans during the festive season provided the much needed Tailwinds. The trickle down effect to the non-banking PSU stocks was a key highlight of today’s trade as several PSU stocks led by the Defence sector across sectors were heavily sought after on the back of rising volumes.

– S Ranganathan, Head of Research at LKP Securities

The Indian market is sustaining its gains due to favorable global & domestic cues. Home-grown positivity is the downward trend of crude prices and upside prospects to Q2 corporate earnings. Notably too, RBI’s confidence that headline inflation has peaked in September and henceforth will decline is taken cheerfully by the financial market, providing upside to banks.

– Vinod Nair, Head of Research at Geojit Financial Services

Closing Bell: Sensex rises for 3rd straight day, ends 550 pts higher; Nifty tops 17,450; BHEL, NHPC rally 8% each

Closing Bell: Sensex rises for 3rd straight day, ends 550 pts higher; Nifty tops 17,450; BHEL, NHPC rally 8% each

Gold falls Rs 10; silver climbs Rs 774

Gold prices in the national capital fell Rs 10 to Rs 50,783 per 10 grams on Tuesday amid appreciation in rupee, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 50,793 per 10 grams. Silver, however, climbed Rs 774 to Rs 57,064 per kilogram from Rs 56,290 per kg.

Gold falls Rs 10; silver climbs Rs 774

BLOCK DEAL IN BHEL SHARES| 1.4 crore shares (0.4% equity) worth Rs 97 crore at an average of Rs 69/share

Price as on 18 Oct, 2022 03:20 PM, Click on company names for their live prices.

Polycab India Q2FY23

  • Revenue at Rs 3,330 cr vs Rs 3,034 cr YoY
  • PAT at Rs 270 cr vs Rs 198 cr, up 36.7% YoY

Merchant bankers can’t undertake any business other than those related to securities market: Sebi

A merchant banker cannot carry on any business other than those pertaining to the securities market, according to the capital markets regulator Sebi. Providing an informal guidance in this regard to PNB Investment Services, an arm of Punjab National Bank (PNB), the Securities and Exchange Board of India (Sebi) indicated that its views might differ on a case-to-case basis.

Q2 EARNINGS | TATA COMMUNICATIONS

  • PAT at Rs 532 crore; revenue at Rs 4430 crore
Q2 EARNINGS | TATA COMMUNICATIONS

EARNINGS WATCH | PRAJ INDS

Market live updates: FMCG stocks rise up to 3%

Price as on 18 Oct, 2022 02:08 PM, Click on company names for their live prices.

BUZZING STOCK: BHEL

Capacite Infraprojects gets order worth Rs 151 crore

Capacite Infraprojects gets order worth Rs 151 crore

Board Meeting of Canara Bank is scheduled to be held on Thursday, 20th October 2022 to consider and approve the financial results for the second quarter (Q2)

Price as on 18 Oct, 2022 12:38 PM, Click on company names for their live prices.

Market live updates: Star Housing Finance Ltd said the company’s board approved the sub-division of shares in ratio of 1:1; stock rallies 8%

Price as on 18 Oct, 2022 12:35 PM, Click on company names for their live prices.

Zee’s 99.99% of shareholders have given their approval for the Zee Sony merger. That has led to almost an end to the speculations over the deal and crossed the major hurdles. This would make the merged entity the largest media house with a market share above 26%. Outlook is positive. Ad revenues should increase from here considering pick up in the economy, good monsoons driving rural sales thus in turn elevating the FMCG and Auto verticals, which are their main advertisers. Market share growth happening in Hindi and Marathi GECs should help the cause ultimately. Sony merger gives an altogether different fillip to the business. Subscription business should get a good lift from the final implementation of the NTO2.0 in Q3 post which the linear business along with OTT Zee5 should togetherly provide the required push. We remain BUY on the stock. Shall revisit our numbers post Q2 results.

– Ashwin Patil, Senior Research Analyst at LKP Securities

Nestle to announce second interim dividend on Wednesday

Nestle’s board is all set to meet on Wednesday for its quarterly results as well as interim dividend announcement. For the second interim dividend that will be considered and announced by the company on Wednesday, the ex-date is October 31. This means that if you are considering buying the stock of Nestle for its dividend then you need to buy the same before its ex-date. On the ex-date, the stock adjusts in price in respect of the corporate announcement made. The board earlier intimated the record date for the said dividend as November 1, 2022.

Nestle to announce second interim dividend on Wednesday

Raamdeo’s investment mantra for young investors are

Morgan Stanley initiated coverage on Gland Pharma with an overweight rating and a target price of Rs 2,748. The company has a strong balance sheet, and it has already gone through a sharp 45% year-to-date (YTD) stock price correction, said Morgan Stanley. Shares are trading at a respective 30.1x and 23.6x as per FY23 and FY24 estimates. IP visibility for its complex pipeline is improving, said the note.

Price as on 18 Oct, 2022 11:50 AM, Click on company names for their live prices.

Ambuja Cements allotted 477.5 million warrants to Harmonia Trade and Investment on preferential issue basis, priced at Rs 418.87

Price as on 18 Oct, 2022 11:45 AM, Click on company names for their live prices.

Market live updates: PSU Bank stocks rally; PNB top performer

Price as on 18 Oct, 2022 11:35 AM, Click on company names for their live prices.

Alembic Pharma gets 4 procedural observations from USFDA

  • USFDA conducted an inspection at Alembic Pharmaceuticals’ Oncology Injectable Formulation Facility located at Panelav from 4th October, 2022 to 14th October, 2022.
  • The USFDA issued a Form 483 with 4 procedural observations.
  • None of the observations are related to data integrity and management believes that they are addressable, it said.
  • The company is preparing the response to the observations, which will be submitted to the USFDA within stipulated period, it said.
  • Stock trades 1% lower on BSE
  • Source: BSE filing

Market live updates: Pharma stocks fragile in a firm market; check out the top losers from the pack

Price as on 18 Oct, 2022 11:01 AM, Click on company names for their live prices.

The recovery and push beyond 17430, that we anticipated yesterday, is probably gathering steam for a run up to18100, with initial stop at 17580. Given the sharp decline that ensued a few days back while attempting a breach of 17430, the downside marker needs to be placed near 17240/180.

– Anand James – Chief Market Strategist at Geojit Financial Services

Oil and Natural Gas Corp plans to take a stake in the new Russian entity that will manage the Sakhalin 1 project in the far east as it seeks to retain a 20% share in the asset, three sources familiar with the matter told Reuters.

Price as on 18 Oct, 2022 10:34 AM, Click on company names for their live prices.

Market live updates: Mahindra & Mahindra Financial Services & India Post Payments Bank join hands to boost credit access to customers

Price as on 18 Oct, 2022 10:22 AM, Click on company names for their live prices.

Bond yields dip as RBI comments on inflation aid sentiment

Indian government bond yields fell on Tuesday, as the central bank’s comments on inflation lifted sentiment and helped build on the upbeat momentum seen in the previous session. The Reserve Bank of India’s (RBI) views came a day after the market interpreted a softer guidance on policy rates from minutes of the central bank’s latest meeting.

The benchmark Indian 10-year government bond yield was at 7.3664% as of 0440 GMT. The yield ended at 7.4075% on Monday, posting its biggest single session fall since Oct. 4. “Globally, there is not much (of a) change in fundamentals. Hence, local bullish bias after dovish minutes and inflation comments from the central bank should persist at least in the initial part,” a trader said.

Suzlon Energy gets order of 48.3 MW from Adani Green Energy

Price as on 18 Oct, 2022 09:55 AM, Click on company names for their live prices.

Market live updates: Check out the most active stocks on NSE in opening deals

Price as on 18 Oct, 2022 09:40 AM, Click on company names for their live prices.

The whipsaw movement in the mother market of the US is a reflection of the fast changing perception about the US inflation expectations, terminal Fed rate and direction of the US economy. A section of market participants now feel more optimistic about a soft landing of the US economy and have now turned bullish about the market. It remains to be seen whether this view gathers wider acceptance and sustains.In India bulls are gaining strength aided by India’s growth outperformance, good early Q2 results, declining FII selling, steadily rising DII buying and the optimism ushered in by the festive season. Bank Nifty is resilient with the potential to take banking stocks as well as Nifty higher.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Market live updates: Sea of green… all indices trade higher

Market live updates: Sea of green... all indices trade higher

BLOCK DEAL: 2.1% equity of Samvardhana Motherson International changes hands; stock down 6%

Price as on 18 Oct, 2022 09:20 AM, Click on company names for their live prices.

BLOCK DEAL IN ZEE SHARES

Opening Bell: Sensex jumps 500 points, Nifty above 17,450; Zee surges 5%, Aster DM 4%

Opening Bell: Sensex jumps 500 points, Nifty above 17,450; Zee surges 5%, Aster DM 4%

Pre-open session: Sensex gains over 300 points; Nifty above 17,400

Asia stocks rise as relief rally builds after UK U-turn

Asia stocks nudged higher on Tuesday as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week as a revival in risk-taking lowered its appeal.

Oil prices steady on U.S. dollar weakness; recession fears weigh

Oil prices steadied in early Asian trade on Tuesday as a weaker U.S. dollar lent support, although rising shale production and fears that stubbornly high inflation could lead the world economy into a recession limited gains.

Quarterly earnings today

ICICI Lombard,Schaeffler India, Gujarat Fluorochemicals, Polycab India, Tata Communications, KPIT Technologies, Mahindra CIE, HFCL, Praj Industries, Sonata Software and L&T Technology Services are among companies that will announce their quarterly earnings today.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 106.5 points, or 0.62 per cent, higher at 17,421.5, signaling that Dalal Street was headed for a positive start on Tuesday.

Tech View: Nifty bulls make a comeback after consolidating

As the headline equity index, Nifty, ended above the 17,300-mark, a long bull candle was formed on the daily chart, placed beside the long negative candle of Friday. Technical analysts said this pattern indicates the comeback of bulls after a consolidation movement of the previous session.

Tokyo stocks open higher extending US rallies

Tokyo stocks opened higher Tuesday as investors took heart from rallies on Wall Street on eased worries over corporate earnings. The benchmark Nikkei 225 index was up 1.54 percent, or 413.56 points, at 27,189.35 in early trade, while the broader Topix index was up 1.29 percent, or 24.25 points, at 1,903.81.

Wall Street rallies after BofA results, UK reversal

U.S. stocks kicked off the trading week on Monday with a rally after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results, which lifted optimism about the corporate earnings season.

Rupee ends unchanged amid likely central bank intervention

The Indian rupee ended flat on Monday, while its Asian counterparts dropped on recession fears, as the Reserve Bank of India’s likely intervention continued supporting the local currency.

Sensex, Nifty on Monday

The 30-share Sensex ended 491 points higher at 58,411. Its broader peer, Nifty50, ended at 17,311, up 126 points.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

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