Stock Market Highlights: Nifty forms bearish candle on daily charts. What traders should do on Friday – Economic Times

Sensex Today Live Updates: The BSE Sensex tumbled 420 points to finish below the 61,000-mark on Thursday, tracking weakness in auto, finance and energy counters amid widespread selling pressure in global markets.A depreciating rupee further weighed on sentiment, traders said.Declining for the second straight session, the 30-share BSE benchmark ended 419.85 points or 0.69 per cent lower at 60,613.70. The index moved between a high of 60,848.73 and a low of 60,425.47.

!1 New UpdateClick here for latest updates

US stocks roar higher after inflation data

Wall Street’s main indexes opened sharply higher on Thursday as data showed consumer prices increased less than expected in October, spurring hopes that the Federal Reserve might scale down the size of its future interest rate hikes.The Dow Jones Industrial Average jumped 908 points, or 2.8%. The S&P 500 jumped 3.6%, while the Nasdaq surged more than 4.9%.

US stocks roar higher after inflation data

Kaynes Technology’s IPO subscribed 23 pc on day 1

The initial share sale of Kaynes Technology India Ltd got subscribed 23 per cent on the first day of subscription on Thursday. The Initial Public Offering (IPO) received bids for 24,29,325 shares against 1,04,70,246 shares on offer, according to NSE data.The quota for Qualified Institutional Buyers (QIBs) got subscribed 52 per cent while the category for Retail Individual Investors (RIIs) received 12 per cent subscription.The portion for non-institutional investors was subscribed 10 per cent and that for employees got subscribed a little over two times.

FiveStar Business Finance’s IPO gets subscribed 32 per cent on second day

Non-banking financial company FiveStar Business Finance’s initial public offering was subscribed 32 per cent on the second day of the issue on Thursday. The company received bids for 97,81,244 shares against 3,04,88,966 shares on offer, according to data available on the National Stock Exchange (NSE).The quota for Qualified Institutional Buyers (QIBs) was subscribed 1.01 times. Retail Individual Investors (RIIs) and Non-institutional Investors’ portions were subscribed 6 per cent and 2 per cent, respectively.

Inflows in mutual fund SIPs at record Rs 13,000 cr in Oct

Investors are betting big on systematic investment plans or SIPs to generate long-term wealth, with monthly flows in the mutual fund industry through the route rising to an all-time high of Rs 13,040 crore in October. This surpassed the Rs 12,976 crore inflow seen in September, data with Association of Mutual Funds in India (AMFI) showed on Thursday.The inflows through SIPs have been above the Rs 12,000-crore mark since May. It was at Rs 12,140 crore in July, Rs 12,276 crore in June and Rs 12,286 crore in May. Prior to that, it was at Rs 11,863 crore in April.With this, total inflow has reached over Rs 87,000 crore in the first seven months of the current fiscal. This came following an inflow of over Rs 1.24 lakh crore in the 2021-22 financial year.

Inflows in mutual fund SIPs at record Rs 13,000 cr in Oct

Zomato Q2 Results

  • Cons revenue at Rs 1,661 cr vs Rs 1,024 cr YoY
  • Cons EBITDA loss of Rs 311 cr vs EBITDA loss of Rs 536 cr YoY
  • Cons loss of Rs 251 cr vs loss of Rs 430 cr YoY
Zomato Q2 Results

Gold gains Rs 135; silver drops Rs 250

Gold rallied by Rs 135 to Rs 51,898 per 10 gram in the national capital on Thursday amid a rise in price of the metal in international market, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 51,763 per 10 gram.Silver, however, dropped by Rs 250 to Rs 61,618 per kg.”Gold traded steady above the USD 1,680 level as market participants remain cautious ahead of the key US inflation report to gauge the pace of the Federal Reserve’s future interest rate hikes,” said Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services.

Gold gains Rs 135; silver drops Rs 250

The Bears were on the controlling side in the index throughout the day, however, the bull came in the last hour and managed to close above the crucial support zone of 41,500-41,400. To continue the strong momentum on the upside, the bulls must close the index above 42,000 where the highest open interest is built up on the call side. The bears will have complete control if the index breaks the level of 41,000 on the downside.

– Kunal Shah, Senior Technical Analyst at LKP Securities

Weakness in Global markets spooked Indian equities with Nifty going below 18,000 levels after 6 trading sessions. Nifty opened lower and after briefly going below 18k levels, closed with loss of 129 points at 18028 levels. All sectorial indices ended in red. Profit booking was witnessed in Banks and Auto stocks after both the indices touched their new highs on Wednesday. Inflation data for US and India would be key data points which would drive the market direction in the next few days. Nifty need to sustain above the key 18,000 levels for the positive momentum to continue, while global headwinds could induce intermittent volatility.

– Mr. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

We allude to our previous commentary of not being complacent with the recent development, as tentativeness was evident at the higher zone from past couple of trading sessions. Technically speaking, there have been no significant changes in the technical structure as the index managed to withhold the sacrosanct support of the 17900-18000 zone. As far as levels are concerned, the immediate highs of 18200-18250 is expected to act as a sturdy hurdle, and a decisive breach will be required to continue the uptrend. While on the lower end, 17900-18000 is the immediate support followed by the bullish gap of the 17900-17840 zone.Going forward, many stock-specific adjustments are likely to continue and are expected to provide substantial trading opportunities. Simultaneously, traders should keep a close tab on the mentioned levels and stay abreast with domestic and global developments.

– Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One

The benchmark Nifty had started lower and slipped below 18000 briefly. However, bulls have managed to hold the 18000 mark on a closing basis. The trend may remain sideways as long as it remains above 18000. On the higher end, 18300 will continue to act as crucial resistance.

– Rupak De, Senior Technical Analyst at LKP Securities

Following sluggish global markets, the cautious mood persisted in the domestic market. Losses on the Dalal Street were led by profit booking in auto and PSU banks, while selling in mid and small caps followed the trend. Investors around the globe are awaiting US inflation data, which is expected to slow for the fourth month, which can have a positive lead.

– Vinod Nair, Head of Research at Geojit Financial Services

All sectors end in the red

All sectors end in the red

CLOSING BELL: Sensex ends with cuts for 2nd session, falls 420 pts; Nifty below 18,050; M&M, Bajaj Finserv crack 3% each

CLOSING BELL: Sensex ends with cuts for 2nd session, falls 420 pts; Nifty below 18,050; M&M, Bajaj Finserv crack 3% each

LT Foods Ltd on Thursday said it has raised nearly Rs 390 crore by selling shares to Saudi Agricultural and Livestock Investment Company (SALIC) through private placement. In a regulatory filing, the company informed that its board has approved issuance and allotment by way of a preferential allotment on a private placement basis up to 27,408,164 equity shares at a price of Rs 142.23 per share for cash consideration of up to Rs 389.82 crore.

Price as on 10 Nov, 2022 03:11 PM, Click on company names for their live prices.

STOCKS IN NEWS | Aurobindo Pharma Says: Arrest of P Sarath Chandra Reddy not in any way connected with company’s operations

Price as on 10 Nov, 2022 02:48 PM, Click on company names for their live prices.

European stocks drop at open, before US inflation data

European stock markets dropped at the start of trading Thursday as investors looked ahead to key US inflation numbers due later in the session.
London’s benchmark FTSE 100 index fell 0.5 percent to 7,263.45 points.

In the eurozone, Frankfurt’s DAX index shed 0.4 percent to 13,605.60 points and the Paris CAC 40 lost 0.5 percent to 6,396.33.

KFin Technologies gets Sebi nod to float Rs 2,400-cr IPO

KFin Technologies gets Sebi nod to float Rs 2,400-cr IPO

The Company is one of the leading Indian Offset Partners (IOP) & among the top Indian players for the manufacture of electronic sub-systems and cable harnesses in the defense and aerospace sector, thus making it a proxy play on the rising indigenous manufacturing in the defense industry. The issue had received a good response from investors both the institutional as well as Retail side, and the current GMP is 70 i.e. ~ 32% over its issue price. Nevertheless, there are concerns with the company like high dependence on key customers, the majority of the revenue from low margin built to print offset defense contracts, the regulated nature of the industry, high debt to equity, and high working capital requirements. Therefore, we advise investors to lock in listing gains and only aggressive investors should consider making a long-term commitment to the company.

– Pravesh Gour, Senior Technical Analyst, Swastika Investmart

Q2 RESULTS | TVS Srichakra

Bank stocks see profit taking, tank up to 9%

Price as on 10 Nov, 2022 01:38 PM, Click on company names for their live prices.

Q2 EARNINGS | Paisalo Digital

Aurobindo Pharma Ltd learnt its director P. Sarath Chandra Reddy had been arrested by the country’s federal financial crime agency, the drugmaker said in an exchange filing on Thursday. Several media reports also said French spirits giant Pernod Ricard’s Benoy Babu, an executive at its India business, was also arrested by the Enforcement Directorate (ED) under sections of the Prevention of Money Laundering Act (PMLA).

Price as on 10 Nov, 2022 12:55 PM, Click on company names for their live prices.

BEL signs MoU with Goa Shipyard

Price as on 10 Nov, 2022 12:50 PM, Click on company names for their live prices.

NIFTY SLIPS BELOW 18,000

NIFTY SLIPS BELOW 18,000

Tokyo shares close lower after US falls

Tokyo stocks closed lower Thursday after falls on Wall Street as traders digested US election results and crypto upheaval. The benchmark Nikkei 225 index lost 0.98 percent, or 270.33 points, to 27,446.10, while the broader Topix index ended down 0.66 percent, or 12.83 points, at 1,936.66. “Risk-aversion sentiment was seen weighing on the Japanese market,” Resona Bank said in a note, after US shares faced pressure as the Democrats did better than expected in midterm elections, although the US Congress will likely be divided, with Republicans expected to control the House of Representatives.

Market LIVE Updates: Future Consumer net loss widens to Rs 142 crore vs Rs 25 crore YoY

Price as on 10 Nov, 2022 12:13 PM, Click on company names for their live prices.

Dilip Buildcon Limited, which is constructing the new Zuari bridge, said that the first phase of a cable-stayed bridge termed as India’s widest bridge is almost complete and the entire eight-lane project will be completed by April, 2023.

Price as on 10 Nov, 2022 12:03 PM, Click on company names for their live prices.

Q2 EARNINGS: WESTLIFE FOOD

Eicher, Zomato & Apollo Hospitals trade lower ahead of Q2 show

Price as on 10 Nov, 2022 11:58 AM, Click on company names for their live prices.

Allcargo Logistics Q2 PAT falls 13% to Rs 230 cr

Allcargo Logistics has reported a 13 per cent fall in consolidated Profit After Tax (PAT) at Rs 230 crore for the quarter ended September 30, 2022. The company’s consolidated PAT in the year-ago period was Rs 263 crore, as per a regulatory filing. The income from operations rose 6.5 per cent to Rs 5,300 crore in the reporting quarter as against Rs 4,978 crore in the second quarter of FY22, as per the filing.

PSP Projects bags civil construction work for expansion of existing plant from a repeat client worth Rs 200 crore (excluding GST) in industrial category. With receipt of the above orders, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,711.58 crore.

Price as on 10 Nov, 2022 11:23 AM, Click on company names for their live prices.

Pidilite Industries reported a decline of 10.06 per cent in consolidated net profit at Rs 337.75 crore for the second quarter of FY23 on account of raw material inflation and high-priced inventory. It had logged a profit of Rs 375.53 crore in the July-September quarter a year ago.

Price as on 10 Nov, 2022 11:08 AM, Click on company names for their live prices.

“Markets are supported by strong domestic flows; Structurally positive on India for the long term,” says Pratik Gupta of Kotak Equities in an interview with ET Now

Sequoia Capital India divested 3.28 per cent or 15,60,000 equity shares in the paint manufacturer Indigo Paints at an average price of Rs 1,343.82-Rs 1,343.65 apiece, taking the transaction value to Rs 209.62 crore, the bulk deal data showed.

Price as on 10 Nov, 2022 10:50 AM, Click on company names for their live prices.

ED arrested Aurobindo Pharma’s Sharath Reddy in money laundering case linked to the liquor trade in the investigation being conducted by the Enforement Directorate in the now-scrapped Delhi Excise policy case.

Price as on 10 Nov, 2022 10:49 AM, Click on company names for their live prices.

Nifty Auto down 1.73%;Tata Motors, Maruti, M&M down

Price as on 10 Nov, 2022 10:45 AM, Click on company names for their live prices.

Realty firm Prestige Estates Projects reported an 80 per cent increase in its consolidated net profit at Rs 140.7 crore in the September quarter of this fiscal year. Its net profit stood at Rs 78.3 crore in the year-ago period.

Price as on 10 Nov, 2022 10:40 AM, Click on company names for their live prices.

Kaynes Technology IPO opens: Here’s what brokerage firms say about the issue

New Delhi: The Rs 858 crore-initial public offering (IPO) of Kaynes Technology kicked off for subscription on Thursday, November 10. The company is selling its shares in the range of Rs 559-587 apiece. Incorporated in 2008, Mysore (Karnataka) based Kaynes Technology is an end-to-end and IoT solutions-enabled integrated electronics manufacturing company. On the block, the issue consists of issuance of fresh equity shares worth Rs 530 crore whereas existing shareholders and promoters will offload 55,84,664 equity shares from their shareholding via offer for sale (OFS).

Kaynes Technology IPO opens: Here's what brokerage firms say about the issue

Shares of drug maker Lupin rallied as much as 8.62% to Rs 753.90 in Thursday’s intraday trade on BSE after the company said its consolidated net profit stood at Rs 130 crore for the second quarter ended September 30, 2022. It had reported a net loss of Rs 2,098 crore in the July-September period of the previous fiscal. The stock is now trading 5% up

Price as on 10 Nov, 2022 10:21 AM, Click on company names for their live prices.

How has the 137 year old group changed with time? The first-ever TV interview of Mohit Burman as Dabur India Chairman!

Balrampur Chini Mills approves Rs 145.44 crore share buyback at 9% premium

Price as on 10 Nov, 2022 10:12 AM, Click on company names for their live prices.

Piramal Enterprises shares down 6.54% after the financial services arm of the Piramal group reported a net loss of Rs 1,536 crore in the second quarter of the current financial year. The quarterly report includes the numbers of Dewan Housing Finance Corporation (DHFL) which it had acquired in September 2021 through the insolvency process.

Price as on 10 Nov, 2022 10:05 AM, Click on company names for their live prices.

Adani Ports and Special Economic Zone has acquired 49.38 per cent stake in Indian Oiltanking Ltd – developer and operator of liquid storage facilities – for Rs 1,050 crore.

Price as on 10 Nov, 2022 10:00 AM, Click on company names for their live prices.

Stock Market Live Updates: Nifty Pharma up 0.77%; Lupin up 5.88%

Price as on 10 Nov, 2022 09:47 AM, Click on company names for their live prices.

Centre mulling changes to capital gains tax regime

The government is examining possible changes to the capital gains tax regime to make it simpler, including rationalisation of the multiple holding periods, officials said. Parity within asset classes will be a key consideration in the review that may even consider changes in the tax rate.

Centre mulling changes to capital gains tax regime

Narayana Hrudayalaya stocks surged 5.45% as the healthcare player reported a 71 per cent increase in consolidated profit after tax at Rs 169 crore for the second quarter ended September 2022, riding on the back of robust performance across units. It had posted a profit after tax (PAT) of Rs 99 crore in the July-September period of the previous fiscal.

Price as on 10 Nov, 2022 09:36 AM, Click on company names for their live prices.

Buy or Sell: Stock ideas by experts for November 10, 2022

FMCG major Hindustan Unilever and healthcare firm GSK have mutually decided to terminate their agreement for selling of Over-the-Counter (OTC) and oral care products. The agreement was for brands such as Crocin, Eno, Iodex, Ostocalcium, Otrivin, and Sensodyne, which were owned by GSK.

Price as on 10 Nov, 2022 09:34 AM, Click on company names for their live prices.

The government, through the Specified Undertaking of the Unit Trust of India or SUUTI, would sell 46.5 million shares or entire 1.55% stake in private lender Axis Bank for two days on November 10-11 through an OFS at a floor price of Rs 830.63.

Price as on 10 Nov, 2022 09:32 AM, Click on company names for their live prices.

Stock Market Live Updates: Another 1.4 crore Nykaa shares change hands via block deal

Price as on 10 Nov, 2022 09:29 AM, Click on company names for their live prices.

Tata Motors narrowed its consolidated net loss to Rs 945 crore for the second quarter ended September, as sales picked up in marquee brand Jaguar Land Rover and across domestic as well as commercial vehicle segments. It had reported a net loss of Rs 4,442 crore in the July-September period of the last fiscal.

Price as on 10 Nov, 2022 09:27 AM, Click on company names for their live prices.

Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The market is delicately poised awaiting the crucial US inflation data expected today. A lower than expected CPI number will be a trigger for a rally in markets globally. Conversely, if the inflation print is higher than expectations that can trigger a renewed risk-off in markets. So investors should watch out for this crucial data.

An important event unfolding in the market now is the ending of the lock-in period of some new-age tech companies. Some of the initial investors in these famous start-ups, who invested early at low prices, may choose to exit. The consequent high volatility can provide opportunities for long-term investors. Even though it is difficult to value many of these stocks, they have a long runway of growth and the successful ones will turn out to be big wealth creators. Watch out for this opportunity.

Stocks in focus: Lupin, Balrampur Chini, Divi’s Lab and more

Nykaa Block Deal: 1.1 crore shares change hands

Price as on 10 Nov, 2022 09:21 AM, Click on company names for their live prices.

Opening Bell: Sensex falls 200 points, Nifty slips below 18,100; Tata Motors tanks 4%, Lupin jumps 5%

Opening Bell: Sensex falls 200 points, Nifty slips below 18,100; Tata Motors tanks 4%, Lupin jumps 5%

Pre-open session: Sensex slips over 450 points; Nifty below 17,990

Asian shares fall ahead of U.S. CPI, crypto worries mount

Asian share markets were tense on Thursday and the dollar held on to its overnight gains before the big test of a U.S. consumer inflation report, while market sentiment took a dive as the likely collapse of a major crypto exchange spooked investors.

Oil falls for a fourth day as China COVID concerns grow

Oil prices fell for a fourth day on Thursday on concerns that new COVID curbs in China, the world’s biggest crude importer, will impact fuel demand. Brent crude futures fell 34 cents, or 0.4%, to $92.31 a barrel at 0115 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 31 cents at $85.52 a barrel.

Tokyo shares open lower after Wall Street drops

Tokyo stocks opened lower Thursday, with investors discouraged by falls on Wall Street as traders digested US election results and crypto upheaval. The benchmark Nikkei 225 index lost 1.02 percent, or 283.72 points, to 27,432.71 in early trade, while the broader Topix index fell 0.84 percent, or 16.28 points, to 1,933.21.

Quarterly earnings today

Adani Green Energy, Eicher Motors, Apollo Hospitals, Berger Paints, Page Industries, Jindal Steel & Power and Zomato are among companies that will announce their quarterly earnings today.

Leave a Reply

Your email address will not be published. Required fields are marked *