Nifty has been consistently taking support near its 200-DMA at 16,950, while facing strong resistance at 17,150. Now, it has to hold multiple support of 16,950 zones for a bounce towards 17,117 and 17,171 zones, whereas supports are at 16,950 and 16,888 zones, said Chandan Taparia of Motilal Oswal.
Options data suggests a shift in a broader trading range between 16,600 to 17,500 zones while an immediate trading range between 16,800 to 17,300 zones.
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Wall Street opens sharply lower after hot inflation data
Wall Street’s main indexes opened sharply lower on Thursday, with the Nasdaq leading the losses, after data showed a bigger-than-expected rise in consumer prices last month, giving more ammunition to the Federal Reserve to stick to aggressive rate hikes.The Dow Jones Industrial Average fell 455.0 points, or 1.56%, at the open to 28755.83. The S&P 500 fell 56.7 points, or 1.58%, at the open to 3520.37, while the Nasdaq Composite dropped 285.3 points, or 2.74%, to 10131.816 at the opening bell.
Zoomcar seeks US listing through $456 million SPAC deal
Indian car rental platform Zoomcar Inc said on Thursday it would go public in the United States through a blank-check merger valuing the combined company at $456 million including debt, as it seeks to expand into new markets.The Bengaluru-based startup expects to list on the Nasdaq as Zoomcar Holdings Inc after being acquired by Innovative International Acquisition Corp in the first half of 2023.Founded nearly a decade ago, Zoomcar allows car owners to put up their vehicles for hire by the hour or for longer, similar to San Francisco-based Turo Inc’s business model.
Tech View: Nifty making lower highs for last 5 sessions. What investors should do on Friday
Swinging around 17,00 levels for the fourth consecutive day on Thursday expiry day, headline index Nifty made a bearish candle on the daily scale. Analysts said the index has been making lower highs from the last five sessions, signalling that the upside could be capped in the near term.Nifty has been consistently taking support near its 200-DMA at 16,950, while facing strong resistance at 17,150. Now, it has to hold multiple support of 16,950 zones for a bounce towards 17,117 and 17,171 zones, whereas supports are at 16,950 and 16,888 zones, said Chandan Taparia of Motilal Oswal.Options data suggests a shift in a broader trading range between 16,600 to 17,500 zones while an immediate trading range between 16,800 to 17,300 zones.
Dow futures drop more than 500 points after hotter-than-expected inflation report
U.S. stock index futures fell sharply on Thursday after data showed a bigger-than-expected rise in consumer prices last month, giving more ammunition to the Federal Reserve to stick to its aggressive rate-hike cycle.The Labor Department’s consumer prices index (CPI) report showed headline CPI gained at an annual pace of 8.2% in September, compared to an estimated 8.1%. The reading was lower than an 8.3% increase in August.The core CPI, which eliminates volatile food and fuel prices, gained 6.6% last month, compared with the estimates of a 6.5% increase. The reading was much higher than a 6.3% rise in August.Futures for the Dow Jones Industrial Average fell 530 points, or 1.80%. S&P 500 and Nasdaq 100 futures slumped 2.18% and 2.97%, respectively.
Mindtree Q2 Results: Profit jumps 28% YoY to Rs 509 cr; beats St estimates
Infosys ADR rises over 7% in pre-market trade
#EarningsWithETNOW | Infosys ADR rises over 7% in pre-market trade @Infosys #Infosys #StocksToWatch https://t.co/xKqbHnE180
— ET NOW (@ETNOWlive) 1665659374000
The Bank Nifty index witnessed some selling pressure on the higher end and faces stiff resistance around the 39,500-40,000 level where aggressive call writing has been seen. The index remains in a downtrend with lower high and lower low formations intact. The index if breaches below 38,400 on a closing basis will lead to further sell-off towards 38,000-37,500 levels. The immediate upside resistance is placed at 39,000 and if breached will see some short covering moves
– Nifty from Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
Attrition rate dipped to 27.1 per cent from 28.4 per cent in Q1. The deal wins in Q2 were the highest in the last 7 quarters, the company said.
Infosys Score Card
#EarningsWithETNOW | Here's a look at @Infosys' Q2FY23 score card #StockMarket #StocksToWatch #Infosys https://t.co/gGRaIjI1go
— ET NOW (@ETNOWlive) 1665658227000
Infosys surprised the Street by raising its constant currency sales growth guidance for FY23. The company now sees sales growing 15-16% in FY23 against 14-16 per cent earlier. Infosys also narrowed its margin guidance for FY23 to 21-22 per cent from 21-23 per cent earlier.
Infosys Results: Both topline and the bottomline above ET Now poll of Rs 36,520 crore and Rs 5,860 crore, respectively.
#EarningsWithETNOW | @Infosys Q2FY23 PAT at Rs 6,020 cr: Agencies; vs ET NOW poll saw cons PAT at Rs 5,860 cr… https://t.co/T7hEHQJXcd
— ET NOW (@ETNOWlive) 1665657308000
Infosys declares interim dividend of Rs 16.50/sh
Infosys announces share buyback of Rs 9,300 cr
Rupee ends marginally weaker ahead of U.S. inflation test
The Indian rupee eased slightly against the dollar on Thursday, as investors were cautious ahead of U.S. inflation data that is likely to come in hot and prompt the Federal Reserve to deliver a large rate hike.The rupee ended at 82.3450, compared with its previous close of 82.3150, after trading in a narrow range through the session.The currency has ended at or around 82.32 for the past four sessions, likely due to the Reserve Bank of India’s intervention though Thursday, traders said.They believed the rupee had likely found its range for now, after hitting a record low of 82.6825 on Monday.”We don’t foresee a large change in the rupee. There is a lot of selling interest around 82.50-82.60 per dollar in the market,” said Ritesh Agarwal, head of treasury at CTBC Bank.
HEATMAP – 21 of 30 stocks close in red; Wipro cracks 7%
Retail inflation persisting above the desired levels has been a major cause of concern for the Indian economy. This, coupled with declining industrial production in August may not be taken well by the market because Indian economy is anticipated to sustain its resilience. In this backdrop, the impending US inflation figures, which are forecasted to remain high, may cause volatility in the global market
– Vinod Nair, Head of Research at Geojit Financial Services
Closing Bell: Sensex falls 390 pts, ends at 57,235, Nifty above 17,000; Wipro tanks 7% after weak Q2
Mindtree Q2FY23 Poll
#EarningsWithETNOW | @Mindtree_Ltd Q2FY23 Poll: Revenue growth at $ 416 mn vs $399 mn; up 4.3% Revenue at Rs 3,32… https://t.co/zuoeRO97rz
— ET NOW (@ETNOWlive) 1665653033000
Gold gains Rs 42; silver drops Rs 493
Gold prices in the national capital rose by Rs 42 to Rs 51,255 per 10 grams on Thursday amid a rise in the prices of the precious metal in the international market, according to HDFC Securities. In the previous trade, the yellow metal had touched Rs 51,213 per 10 grams.However, silver dropped by Rs 493 to Rs 57,717 per kilogram from Rs 58,210 per kg.In the international market, gold was trading in green at USD 1,672.2 per ounce while silver was down at USD 19.03 per ounce.
Suven Life Sciences has approved 1:2 rights issue and has fixed Tuesday, October 18, 2022 as the ‘Record Date’ to determine the equity shareholders entitled to receive rights entitlements in the Rights Issue of the company.
Price as on 13 Oct, 2022 02:42 PM, Click on company names for their live prices.
RITES secures a order for construction of depot cum workshop for Rs. 499.41 crores from Bangalore Metro Rail Corporation.
Price as on 13 Oct, 2022 02:20 PM, Click on company names for their live prices.
Shares of a engineering products and solutions company Pennar Industries rose as much as 7% to Rs 45 in Thursday’s intra-day trade after it bagged orders worth Rs 1,167 crores across its various business verticals.
Price as on 13 Oct, 2022 02:10 PM, Click on company names for their live prices.
Shares of steel pipes and tubes manufacturer Maharashtra Seamless rallied 10% to hit a 52-week high of Rs 910 in Thursday’s trade as the company proposed a stock split and bonus issue plan.
Price as on 13 Oct, 2022 01:58 PM, Click on company names for their live prices.
Shares of Ugar Sugar rose 12% during the early trade on Thursday after the company received a consent for operation of its new distillery.
Price as on 13 Oct, 2022 01:35 PM, Click on company names for their live prices.
European stocks drop at open
London’s benchmark FTSE 100 index dropped 0.6 percent to 6,788.85 points, one day before the end of the Bank of England’s emergency bond-purchasing drive that sought to calm post-budget turmoil.
In the eurozone, Frankfurt’s DAX index shed 0.3 percent to 12,135.73 points and the Paris CAC 40 lost 0.5 percent to 5,790.48, compared with the closing levels on Wednesday.
Shares of Mishtann Foods jumped 3 per cent during Thursday’s trading session after the company announced its plans to set up a grain-based ethanol manufacturing facility in Gujarat.
Price as on 13 Oct, 2022 01:02 PM, Click on company names for their live prices.
Shares of cloud communication company Tanla Platform rallied over 11% to Rs 872 in Thursday’s intra-day trade on BSE after it fixed October 25, 2022, as the record date to determine the entitlement and names of shareholders, who will be eligible to participate in the proposed buyback.
Price as on 13 Oct, 2022 12:52 PM, Click on company names for their live prices.
Hospital stocks gain up to 3%
Price as on 13 Oct, 2022 12:39 PM, Click on company names for their live prices.
India’s September vehicle sales nearly double vs year ago
#SIAMDATA | Overall sales at 60,52,628 units vs 51,15,112 units Here's a look at passenger vehicles, commercial ve… https://t.co/9hswdoCS0T
— ET NOW (@ETNOWlive) 1665642402000
Japanese stocks fall as traders await U.S. inflation data
Japan’s Nikkei share average started the session higher, but shed early gains to trade down 0.5% at 26,262.85.
The broader Topix fell 0.67%.
HEATMAP- 24 out of 30 stocks turn red; Wipro down 7%
Sensex tumbles more than 500 pts
Crypto Price Today: Bitcoin holds $19k; Cardano, XRP & Dogecoin drop up to 5%
TCS Launches new collaboration with Microsoft: To build autonomous solutions with project Bonsai to help manufacturers transform
Price as on 13 Oct, 2022 11:12 AM, Click on company names for their live prices.
Wipro down 6% after Q2 results, brokerage see more pain in IT major
Price as on 13 Oct, 2022 11:09 AM, Click on company names for their live prices.
Larsen & Toubro’s arm L&T Heavy Engineering secures ‘significant’ orders in Q2 in range of 10 bln rs to 25 bln rs
Price as on 13 Oct, 2022 10:53 AM, Click on company names for their live prices.
RBI is likely to approve acquisition of IDFC MF by Bandhan-led consortium. IDFC MF may be renamed Bandhan MF after formal approvals, according to sources
#ETNOWExclusive | RBI is likely to approve acquisition of IDFC MF by Bandhan-led consortium. IDFC MF may be renamed… https://t.co/V5tCsM0u59
— ET NOW (@ETNOWlive) 1665638197000
Buzzing pipe stocks
Price as on 13 Oct, 2022 10:33 AM, Click on company names for their live prices.
Price as on 13 Oct, 2022 10:25 AM, Click on company names for their live prices.
NSDL acquires 5.6% in Ecomm Platform ONDC for Rs 10 crore
Abhishek Lodha of Macrotech Developers discuss the road ahead for their projects pipeline, pre-sales targets & realty demand with ETNOW
LIVE | Watch Abhishek Lodha of Macrotech Developers discuss the road ahead for their projects pipeline, pre-sales t… https://t.co/Bqd0JS143O
— ET NOW (@ETNOWlive) 1665633881000
Adani Wilmar plunges 3% in morning trading session
Price as on 13 Oct, 2022 09:40 AM, Click on company names for their live prices.
7 Broad market indices open in red; Nifty50 down 0.16%; India VIX up 1.53%
IHH Healthcare Berhad is believed to have approached consultations with authorities including the stock market regulator to explore ways to proceed with its planned open offer to acquire an additional 26% stake in Fortis Healthcare, said people in the know.
Price as on 13 Oct, 2022 09:24 AM, Click on company names for their live prices.
Opening Bell: Sensex drops over 150 pts; Nifty tests 17,100 level; Wipro tumbles 4%; HCL Tech up 2%
Gold in tight range as investors brace for U.S. inflation data
Spot gold held its ground at $1,670.20 per ounce, as of 0239 GMT. U.S. gold futures dipped 0.1% to $1,676.50.
Although traditionally considered an inflation hedge, rising interest rates to combat high prices have reduced bullion’s appeal since the metal yields no interest.
Pre-open session: Sensex slips over 100 points; Nifty below 17,090
Asian stocks weaken as Fed, BoE fuel uncertainty before U.S. CPI data
Asian stocks followed Wall Street lower and bond yields remained depressed on Thursday as investors weighed the risks of global recession amid hawkish Federal Reserve rhetoric and uncertainty about the Bank of England’s commitment to stabilising markets.
Quarterly earnings today
Infosys, Mindtree, Angel One, Cyient, Anand Rathi Wealth, Den Networks, Sheetal Cool Products, Aditya Birla Money and Alstone Textiles are among companies that will announce their quarterly earnings today.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 52 points, or 0.30 per cent, lower at 17,053, signaling that Dalal Street was headed for a negative start on Thursday.
Tech View: Nifty finds support at 200-DMA for second day
Domestic equity benchmark index Nifty50, which closed Wednesday’s session well above the 17,100 mark, an important Fibonacci level, formed a bullish harami pattern on the daily charts suggesting a rise in optimism. The index found support at 200-DMA for the second consecutive day.
Tokyo shares open softer after US falls
Tokyo stocks opened lower Thursday after Wall Street eased overnight ahead of US inflation data. The benchmark Nikkei 225 index inched down 0.04 percent, or 10.39 points, to 26,386.44, while the broader Topix index slipped 0.21 percent, or 3.95 points, to 1,865.05.
S&P ends lower, dollar loses ground after Fed minutes
Wall Street’s equity indexes ended Wednesday’s volatile session in the red and the dollar made little progress while bond yields fell as investors digested minutes from the latest Federal Reserve meeting and waited for a key U.S. inflation reading.
Oil prices shaky amid worsening demand outlook
Oil prices struggled to find their footing in early Asian trade on Thursday after a weakening global demand outlook depressed the market in the last session.
Rupee falls 12 paise to close at 82.33 against US dollar on fund outflows
The rupee fell by 12 paise to close at 82.33 against the US dollar on Wednesday due to sustained foreign fund outflows and a stronger dollar in the overseas markets.
Sensex, Nifty on Wednesday
Shrugging off weak global cues, the domestic equity market behaved decoupled from the rest of the world once again today as Sensex rallied 479 points to 57,626 and Nifty50 closed above 17,100 level.