Sensex Today: Amid positive global cues, domestic equity indices opened higher on Monday, led by banking, financial and IT stocks. At 9.17 am, the BSE Sensex was trading 509 points or 0.85 per cent higher at 60,468. Nifty50 was trading at 17,938, up 152 points or 0.85 per cent.“Technically the market is poised to continue the ongoing rally aided by support from the mother market US where the Dow’s 828 point point rally last Friday recorded fourth straight week of gains,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.“The driving force behind the ongoing rally is the strength of the US economy which is indicating a lower probability of an immediate US recession and, more importantly, indications that inflation is plateauing and might show a declining trend soon. This might enable the FED to slightly moderate their hawkish stance. Already central banks of Canada and Australia have hiked rates below expectations. If this trend spreads, that will favour continuation of the rally in the short-term,” he added.Among Sensex stocks, Dr Reddy’s Labs, Tech Mahindra, Infosys, HUL, HCL Tech and Sun Pharma were the top gainers, rising about 1.5-2.5 per cent. Bajaj Finserv, Bajaj Finance, TCS, M&M, HDFC Bank and Wipro also opened higher.
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SENSEX SURGES 700 POINTS
Check out the top losers from metal & mining pack
Price as on 31 Oct, 2022 11:50 AM, Click on company names for their live prices.
Four IPOs opening this week. Check out the details
#MarketsWithETNOW | Four IPOs are opening this week! From Bikaji Foods to Medanta, @Sharad9Dubey joins in to give u… https://t.co/JzJ0mdbGd2
— ET NOW (@ETNOWlive) 1667194567000
L&T Construction secures Rs 1,000-2,500 crore power transmission orders in Saudi Arabia; stock up 2%
Price as on 31 Oct, 2022 11:21 AM, Click on company names for their live prices.
IPO WATCH | DCX IPO’s retail portion subscribed 1.63x
Sumitomo Chemicals reported a 23.2 per cent growth in total revenues for the September 2022 quarter on a consolidated basis at Rs1,128 cr. The consolidated Profit after tax (PAT) of the company for the September 2022 quarter was up 30.6 per cent at Rs 201.47 crore.
Price as on 31 Oct, 2022 11:16 AM, Click on company names for their live prices.
Credit rating firm ICRA has reaffirmed the long-term rating of Hindustan Copper at ICRA AA+ and short-term rating at ICRA A1+. The outlook on the long-term rating is stable.
Price as on 31 Oct, 2022 11:15 AM, Click on company names for their live prices.
Tata Power Company has recorded a healthy 85% year-on-year growth in consolidated profit at Rs 935.2 crore for the quarter ended September FY23, led by improved performance across all businesses. Revenue for the quarter grew by 43% to Rs 14,031 crore compared to year-ago period.
Price as on 31 Oct, 2022 10:52 AM, Click on company names for their live prices.
Shares of the country’s largest passenger car maker Maruti Suzuki rose 2.64% to Rs 9,742.80 in Monday’s intraday trade after the company beat Street estimates to post a nearly fourfold increase in net profit to Rs 2061.5 crore for the second quarter of the FY23 on the back of healthy double-digit growth in sales. The company reported a net profit of Rs 475.30 crore in the corresponding period of the last financial year. Revenues from operations of the firm in the period under review rose 46% to Rs 29,930.80 crore, from Rs 20,538.90 crore in the year-ago period.
Price as on 31 Oct, 2022 10:35 AM, Click on company names for their live prices.
Oil and Natural Gas Corp (ONGC) is planning to set up a 1 GW solar power plant in Rajasthan in a key move aimed at securing a foothold in the green energy space, according to an executive familiar with the company’s plans.
Price as on 31 Oct, 2022 10:24 AM, Click on company names for their live prices.
Mining conglomerate Vedanta reported a 60.8 per cent decline in consolidated net profit at Rs 1,808 crore for the quarter that ended September 30 on the back of higher expenses.
Price as on 31 Oct, 2022 10:17 AM, Click on company names for their live prices.
Nifty Auto up 1.56%; M&M, Eicher Motors, Maruti Suzuki surge over 2%
Price as on 31 Oct, 2022 10:10 AM, Click on company names for their live prices.
DCX Systems IPO kicks off for subscription. The issue comprises a fresh issue of Rs 400 crore as well as an offer for sale (OFS) of Rs 100 crore by the company
Shares of leading private sector power-producing company JSW Energy rallied 6.5% to Rs 338.50 in Monday’s intraday trade on BSE after the company posted a 37% rise in consolidated net profit for the July-September quarter of the financial year 2022-23 on the back of higher revenues. The net profit of JSW Energy stood at Rs 466 crore against Rs 399 crore in the corresponding period of the previous year. The stock is currently trading nearly 4% up
Price as on 31 Oct, 2022 10:04 AM, Click on company names for their live prices.
Panache Digilife signs manufacture and supply agreement with Revamp Moto for electric vehicles in Indian market; stock jumps 10%
Price as on 31 Oct, 2022 09:57 AM, Click on company names for their live prices.
IPOs that are open now
The 18100 objective that has been in discussion since early October is within touching distance. Favoured view expects breach of the same and head into the 18350-18600, but a direct rise above 18100 is sure to attract long liquidation pressure. Pivotal points that may be used as TSL are now at 17470 and 17750 which are wide and that presents a risk if VIX were to rise from here. This is the key risk ahead.
– Anand James – Chief Market Strategist at Geojit Financial Services
Bandhan Bank plummets almost 7%. The private sector bank reported a net profit of Rs 209 crore for the September quarter as against a Rs 3,009 crore loss in the year-ago period. The bank made Rs 1,280 crore provisions in the September quarter against Rs 5,614 crore in the year-ago period. Net interest income rose 13.3 per cent to Rs 2,193 crore.
Price as on 31 Oct, 2022 09:34 AM, Click on company names for their live prices.
Nifty IT surges 1.73%
Price as on 31 Oct, 2022 09:31 AM, Click on company names for their live prices.
Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Acetaminophen Injection, 1,000 mg/100mL (10 mg/mL) single-dose vials.
Price as on 31 Oct, 2022 09:29 AM, Click on company names for their live prices.
Metals-to-oil conglomerate Vedanta Ltd reported a 60.8% slump in quarterly profit on Friday, on cooling global commodity prices and a surge in fuel and power expenses.
Price as on 31 Oct, 2022 09:29 AM, Click on company names for their live prices.
Opening Bell: Sensex jumps 500 points, Nifty above 17,900; DRL gains 2%, Bandhan Bank falls 4%
Pre-open session: Sensex rises over 100 points; Nifty above 17,880
Asian stocks creep higher on hopes Fed will tone down hikes
Asian stock markets climbed cautiously on Monday amid hopes that the Federal Reserve might sound less aggressive about rate hikes this week, while wheat prices leapt after Russia withdrew from a pact allowing Ukrainian grain to transit the Black Sea.
Nomura on Auto | Festive demand: K-shaped recovery continues
- Premium segment demand remained high
- Entry-segment cars and two-wheelers sales were slow
- Concerned about the mass segments since Oct-21
- Overall festive sales for tractors were ahead of dealer expectations
- Prefer OEMs with high growth potential
- Maintain BUY on M&M, Tata Motors, Ashok Leyland
Oil slips as China COVID curbs outweigh concerns over U.S. output
Oil prices fell on Monday on concerns that widening COVID-19 curbs in China will curtail demand, offsetting signs that output at the top U.S. shale field is losing steam.Brent crude futures dropped 36 cents, or 0.4%, to $95.41 a barrel by 0151 GMT after slipping 1.2% on Friday.
Quarterly earnings today
Bharti Airtel, Larsen & Toubro, Tata Steel, Motherson Sumi Wiring India, Supreme Industries, Timken India,TCI Express and Saregama India are among companies that will announce their quarterly earnings today.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 165.5 points, or 0.93 per cent, higher at 18,000, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: 17,800 key hurdle for Nifty bulls
As Nifty ended below the 17,800 mark on Friday, the headline index formed a Hammer kind of candlestick formation on the weekly charts, indicating indecisiveness between bulls and bears.
Tokyo stocks open higher extending US rallies
Tokyo stocks opened higher on Monday, extending Wall Street rallies led by big gains from Apple. The benchmark Nikkei 225 index was up 1.17 percent, or 318.39 points, at 27,423.59 in early trade, while the broader Topix index was up 1.01 percent, or 19.22 points, at 1,918.27.
Wall Street surges to sharply higher close ahead of Fed week
A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next week’s much-anticipated two-day policy meeting of the Federal Reserve.
Rupee declines by 14 paise to 82.47 against US dollar
The rupee declined by 14 paise to close at 82.47 against the US dollar on Friday as a stronger greenback in the overseas markets weighed on the local unit.
Sensex, Nifty on Friday
The 30-share Sensex ended 203 points higher at 59,960, while its broader peer Nifty 50 gained 49.85 points to end above the 17,750 level at 17,786.80.