Stock Market Live Updates: Sensex off day’s low, trades flat; Nifty nears 17,500; IT, pharma & FMCG stock… – Economic Times

Stock Market Today Live: Indian shares opened lower on Thursday, following dour sentiment in other Asian markets for risky assets as U.S. Treasury yields surged on fears that the Federal Reserve will continue on its aggressive rate-hike path.

In broader Asia, Asia-Pacific shares, excluding Japan, fell to more than two-year low, while the yield on the 10-year U.S. Treasury note touched a fresh 14-year high. [MKTS/GLOB]

Foreign institutional investors sold a net 4.54 billion Indian rupees ($54.71 million) worth of Indian equities on Wednesday, while domestic investors bought net 9.08 billion rupees worth of shares, as per provisional data available with the National Stock Exchange.

Among stocks, cigarettes-to-consumer goods maker ITC Ltd was up 0.29%, ahead of its quarterly results.

Nifty’s automobile and metal indexes were down 1.2% and 1.09%, respectively.

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Colgate announces Rs 18 per dividend in Q2

Price as on 20 Oct, 2022 01:49 PM, Click on company names for their live prices.

Asian Paints Q2 Results: PAT at RS 783 cr vs ET NOW poll of Rs 1076 cr

Asian Paints Q2 Results: PAT at RS 783 cr vs ET NOW poll of Rs 1076 cr

Samvat 2079 is likely to be Like Diwali. There will be celebration along with loud busting of crackers.Ukraine, US Fed Rate, Oil, Inflation and Zero Covid policy of China will continue to bust.A disciplined investor who can buy on the dips will make money.A momentum investor will have tough time managing volatility.Banks, Capital Goods, Manufacturing are likely to outperform the market in Samvat 2079. Tech and Pharma will provide interesting opportunities on a bottom up basis in the correction.

– Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Company

DOLLAR/YEN HITS 150 FOR FIRST TIME SINCE AUGUST 1990

DOLLAR/YEN HITS 150 FOR FIRST TIME SINCE AUGUST 1990

Pharma stocks in pink of health! Check out the top 5 gainers

Price as on 20 Oct, 2022 01:12 PM, Click on company names for their live prices.

Q2 EARNINGS | SYMPHONY LTD

  • PAT at Rs 33 crore vs Rs 30 crore YoY
  • Revenue at Rs 274 crore vs Rs 220 crore YoY
  • Symphony declares 2nd interim dividend of Rs 2 per share

Sensex off day’s low, trades 50 points lower

Sensex off day's low, trades 50 points lower

Samvat 2079 Outlook: Sunil Damania, Chief Investment Officer, MarketsMojo

As we enter the new Samvat year, some factors impacting market sentiment will start to ease. The Fed may not be as aggressive on interest rates, and besides, inflation could cool purely because of the higher base effect.

Capital goods, pharma and cement, will outperform, while public and private banks, NBFCs and the auto sector may wind up laggards.

We also expect mid and small caps to outperform large caps. If you look at the data from the last Samvat to the current one, there is hardly any difference between the performance of large, mid and small caps. On the contrary, small caps have performed better than large caps. Therefore, the performance of the Indian equity market going forward would be driven more by small and mid-caps. We are bullish about mid and small caps, given the yearly rise of retail investors. By the next Samvat, we expect the market to perform exceptionally well.

PB Fintech stock plumbs all-time low

Aster Hospital opens 100-bed multi-specialty facility in Sharjah

Price as on 20 Oct, 2022 11:56 AM, Click on company names for their live prices.

Ramco Systems announced its partnership with Wagestream to extend real-time pay tracking, flexible pay, money coaching and other financial wellness solutions, together with Ramco Global Payroll solution, to organisations across Australia.

Price as on 20 Oct, 2022 11:46 AM, Click on company names for their live prices.

Shoppers Stop posts 60% revenue jump, plans for big festive period

Shoppers Stop reported a 60% jump in its second-quarter revenue on rebounding demand for clothes and shoes even as its move to spend heavily on fresh stock ahead of the festive season pressured profit. The Indian department store operator’s shares, which more than doubled this year, fell nearly 5% to 765 rupees at 0423 GMT on Thursday.

“The stock is not cheap anymore as, in the past three to six months, it has significantly outperformed the market. So there could be some profit booking,” Gaurav Dua, head of capital market strategy at Sharekhan, said.

Source: Reuters

Shoppers Stop posts 60% revenue jump, plans for big festive period

The Expert Appraisal Committee under the Ministry of Environment, Forests and Climate Change has recommended Environmental Clearance for the Rs 10,000 crore expansion and debottlenecking of Reliance Industries Ltd’s Hazira Manufacturing Division (HMD) in Gujarat.

Price as on 20 Oct, 2022 11:32 AM, Click on company names for their live prices.

Sainsbury’s partners with TCS to accelerate business growth through a cloud-first strategy

Price as on 20 Oct, 2022 11:27 AM, Click on company names for their live prices.

Top picks for Samvat 2079 by YES Securities

Top picks for Samvat 2079 by YES Securities

Persistent Systems targets to double revenues to $2 bn in four years

Mid-tier IT company Persistent Systems on Thursday said it is targeting to double the revenues in four years to USD 2 billion.

“We will aim to be a USD 2 billion revenue company in four years,” its chief executive Sandeep Kalra told PTI, a day after the company achieved its USD 1 billion in annualised revenue by posting a 40 per cent rise in the topline to USD 255 million in the September quarter.

Source: PTI

Persistent Systems targets to double revenues to $2 bn in four years

STOCKS IN FOCUS: ADANI TRANSMISSION

Bharat Electronics Ltd said it had signed a memorandum of understanding with Triton Electric Vehicle for making hydrogen fuel cells.

Price as on 20 Oct, 2022 11:03 AM, Click on company names for their live prices.

PSU Bank stock index down over 1%; check out top losers

Price as on 20 Oct, 2022 10:56 AM, Click on company names for their live prices.

Nokia quarterly operating profit lags expectation

Nokia on Thursday reported quarterly operating profit below market expectations even as the Finnish telecom equipment maker continues to benefit from strong demand from phone companies as they roll out 5G. Third-quarter comparable operating profit rose to 658 million euros ($643.3 million) from 633 million last year, lagging the 690.6 million euro mean forecast of 10 analysts polled by Refinitiv.

Nokia quarterly operating profit lags expectation

Drug maker Lupin on Thursday said it will acquire two inhalation brands from Sunovion Pharmaceuticals Inc for USD 75 million (around Rs 622 crore). The drug firm has inked a pact with US-based Sunovion to acquire Brovana (arformoterol tartrate) inhalation solution and Xopenex HFA (levalbuterol tartrate) inhalation aerosol.

Price as on 20 Oct, 2022 10:34 AM, Click on company names for their live prices.

Sonata Software, TCS among top gainers from the IT pack

Price as on 20 Oct, 2022 10:27 AM, Click on company names for their live prices.

Tracxn Tech makes lacklustre debut, lists at 6% premium over IPO price

Price as on 20 Oct, 2022 10:04 AM, Click on company names for their live prices.

Private lender IndusInd Bank reported a bigger-than-expected jump in second-quarter profit on Wednesday, lifted by strong loan growth and a drop in provisions for bad loans.

Price as on 20 Oct, 2022 09:56 AM, Click on company names for their live prices.

CLSA maintained an outperform rating on UltraTech Cements with a target price of Rs 7200. Operating performance for the quarter ended September was better than its peers. Q2 was largely in line with estimates and the demand outlook is also looking strong, the brokerage said.

Price as on 20 Oct, 2022 09:47 AM, Click on company names for their live prices.

Ahead of earnings… look at how these Nifty50 stocks are faring

Price as on 20 Oct, 2022 09:23 AM, Click on company names for their live prices.

The recent 3 percent rally has taken the Nifty to just 6 percent below its 52-week high. This rally in a difficult global equity environment has surprised many, including the FIIs, who have slowed down their selling. Sustained flows into mutual funds, particularly via the SIP route, is a major factor imparting strength to the market even in the context of negative global economic news. So long as DIIs are flush with funds markets are unlikely to correct sharply. Fundamental support to the market is coming from the good Q2 numbers particularly from financials. This week is a results heavy week and most results from Nifty constituents are likely to be good.The rising US bond yields and rising dollar are hitting all other currencies hard. This will continue to be a potential headwind for equity markets till US inflation starts showing a moderating trend.

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

Glenmark Pharmaceuticals says to launch Teneligliptin + Dapagliflozin fixed dose combination

Price as on 20 Oct, 2022 09:22 AM, Click on company names for their live prices.

Opening Bell: Sensex tumbles over 250 pts; Nifty slips below 17,500; IndusInd Bank tanks 5%, Hindalco 3%

Opening Bell: Sensex tumbles over 250 pts; Nifty slips below 17,500; IndusInd Bank tanks 5%, Hindalco 3%

Pre-open session: Sensex slips over 300 points; Nifty below 17,470

FRESH RECORD LOW OF RUPEE! Domestic currency hits 83.07 vs US dollar

FRESH RECORD LOW OF RUPEE! Domestic currency hits 83.07 vs US dollar

Asian stocks slide as investors lose risk appetite, yields rise

Asian share markets fell on Thursday as investor fears over a looming recession crimped risk appetite, while Treasury yields rose on expectations that the Federal Reserve will remain aggressive in its interest rate hikes.

Quarterly earnings today

Bajaj Finance, ITC, Asian Paints, Axis Bank, Tata Consumer Products, Canara Bank, United Breweries, Colgate-Palmolive and Mphasis are among companies that will announce their quarterly earnings today.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 120.5 points, or 0.69 per cent, lower at 17,383.50, signaling that Dalal Street was headed for a negative start on Thursday.

Tech View: Nifty above 8 out of 8 SMAs

Headline equity index Nifty made a small-bodied bearish candle on the daily charts today as it ended above the 17,500 mark. The index is now trading above 8 out of 8 SMAs (simple moving averages), Trendlyne data showed.

Tokyo shares open lower after US losses

Tokyo shares opened lower on Thursday after US stocks tumbled, with Treasury yields jumping as recession worries deepen. The benchmark Nikkei 225 index lost 1.01 percent, or 275.63 points, to 26,981.75 at the open, while the broader Topix index fell 0.76 percent, or 14.56 points, to 1,890.50.

US stocks close lower as rise in yields overshadows earnings

US stocks snapped a two-day streak of gains on Wednesday as weakness in shares of Abbott Laboratories and a rise in Treasury yields sapped momentum from the current earnings season and outweighed a surge in Netflix Inc shares.

Oil prices start session mixed on uncertain demand, supply concerns

Oil prices opened mixed in early Asian trade on Thursday as investors balanced caution over tightening supply against lower demand projections.Brent crude futures for December settlement fell 28 cents, or 0.3%, to $92.13 a barrel by 0010 GMT. U.S. West Texas Intermediate crude for November delivery (WTI), which expires on Thursday, rose 34 cents, or 0.4%, to $85.89 per barrel.

Rupee plunges to record low level of 83 against US dollar

The rupee plunged by 60 paise to record low levels of 83 for the first time against the US dollar on Wednesday amid unabated foreign capital outflows and a strong dollar in the overseas markets.

Sensex, Nifty on Wednesday

The 30-share BSE Sensex ended 146 points higher at 59,107 while its broader peer Nifty50 ended above the 17,500 level.

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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