Stock Market HIGHLIGHTS: Sensex, Nifty break 2-day losing streak; Hindalco, Bajaj Finserv among top gainers
Stock Market HIGHLIGHTS: Sensex, Nifty break 2-day losing streak; Hindalco, Bajaj Finserv among top gainers
Stock Market HIGHLIGHTS: Indian markets ended Friday on a high note breaking a two sessions losing streak. Frontline indices BSE Sensex and Nifty traded within a range through the day. While, the former closed at 60,950.36, up 113.95 points or 0.19 per cent the latter managed a closing above the 18000 mark. The index ended at 18,117.15, higher by 64.45 points or 0.36 per cent.
In the 30-share Sensex, 18 stocks closed in the green against 12 losers. In the 30-stock Nifty50, there were 28 advances and 22 declines.
Here are key highlight's of the day's actions:
1) Stock markets traded in the range through the day, with balance tilting between bulls and bears. However, benchmark indices BSE Sensex and Nifty50 closed in the green.
2) Bank Nifty closed with minor losses at 41,258.45, down by 0.10 per cent or 40 points.
3) Out of the 15 sectoral indices, 7 were in the red against 9 gainers. The top laggards were Nifty Pharma (-1.02 per cent) and Nifty Healthcare Index (-1.03 per cent). NIfty metal took the limelight appreciating by over 4 per cent today. Nifty Media and Nifty Realty were other top per formers gaining nearly 1 per cent each.
4) Hindalco, Adani Ports and Tata Steel were among the biggest gainers on Nifty while Hero MotoCorp, Dr Reddy's and Cipla were top losers. On Sensex, Bajaj Finserv, Ultratech Cement and Tata Steel were top gainers while top losers were Dr Reddy's Lab, Infosys and Hindustan Unilever.
5) There was mixed action in broader markers with Nifty Mid Cap 100 closing down 0.25 per cent at 31,707.90. NIfty Small Cap 100 finished at 9,755.70, up 0.37 per cent.
6) INDIA VIX, a guage of volatility was down by 1.80 per cent to 15.66.
7) Commodity market was also brimming with action with Gold and Silver trading with strength on MCX and Comex. On Comex, Gold futures were trading at USD 1,650.20, up 1.18 per cent.
8) Rupee traded strongly against the greenback, opening 31 paise up and sustained its gains.
Catch full updates of the day's action here!
Latest Updates
This is all from stock markets for the day. I Shivendra Singh will bring all the market action on Monday when they reopen. Till then take great care! Good Bye!
BSE Sensex movement in charts
Source: BSE Nifty' Day Action in Charts
Source: NSE SAIL Q2FY23 Results Preview - company to declare quarterly results today after market hours
Highlights of standalone results in Crores
- REVENUE Rs 24800 Vs Rs 26827, down 8%
- EBITDA 800 Vs 7017, down 89%
- MARGINS 3.2% Vs 26%
- PAT - Rs 600 crore Vs 4304 crore
- EBITDA/TON Rs 618 Vs Rs 16395
Liklelihood of company coming to profit from loss
Results are expected to remain weak due to fall in steel prices and rising input cost to impact results. Announcement after market hours.
The stock was trading at Rs 83.85 on NSE, up 3.14 per cent from the Thursday closing price.
In the primary markets, Bikaji Foods International was fully subscribed by retail investors while the overall subscription stood at 96 per cent. The retail investors subscribed the issue 1.54 times. The QIBs subscribed it 0.02 times while NIIs subscribed the issue 0.83 times.
F&O Top Buzzers
Brokerage views on Hero MotoCorp (CMP: 2646)
- CLSA on Hero MotoCorp (CMP: 2646)
Downgrade to Reduce from Outperform, Target cut to 2667 from 2962
- Jefferies on Hero MotoCorp (CMP: 2646)
Maintain Buy, Target 3000
- Morgan Stanley on Hero MotoCorp (CMP: 2646)
Maintain Underweight, Target 2281
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Amara Raja Batteries Ltd, NSE: AMARRAJABAT, stocks locked in the upper circuit of 10 per cent in early trade on Friday, November 4, on the back of better-than-expected numbers in the July-September quarter of the current fiscal. The stock quoted Rs 573.10, up by 10 per cent. The counter had closed at Rs 519.75 in the previous session.
Earlier on Thursday, the battery manufacturer had announced that it reported a 39.42 per cent rise in consolidated profit after tax to Rs 201.22 crore in the second quarter that ended September 30, driven by higher sales. It had posted a consolidated profit after tax of Rs 144.32 crore in the same period last fiscal, Amara Raja Batteries said in a regulatory filing.
Nifty Movement in Charts
Sensex in Charts
Source: BSE Out of 15 sectoral indices, 8 were in the red dragged by IT sector which was down over 1 per cent around this time. Nifty Pharma, Nifty Healthcare Index were other laggards.
Among gainers, metal stocks stamped their authority. The Nifty Metal Index was up by over 1 per cent.
Source: NSE Strong action was seen in PSU bank stocks with Nifty PSU Bank Index turning out to be one of the best performing indices on the intraday basis around this time. The biggest gainer was Indian Oveseas Bank (IOB) which gained nearly 8 per cent. It was followed by Central Bank of India which was up nearly 4 per cent.
In the 12-share index, 10 were gainers and two losers in the form of State Bank of India (SBI) and Bank of Baroda (BOB).
INR opens strongly on Friday against the US Dollar. It opened with gains of 31 paise.
Trading Calls by Anuj Gupta of IIFL Securities
Sell MCX GOLD DECEMBER AT 505l300 STOP LOSS 50650 TARGET 49800
Sell MCX SILVER DECEMBER AT 58500 STOP LOSS 59200 TARGET 57000
Sell MCX COPPER NOV AT 658 Stop Loss 664 target 645
Sell crude oil November at 7400 Stop Loss 7610 target 7200
Buy USDINR November futures at 83.00 Stop Loss 82.70 target 83.40
Buy NSE NIFTY AT 17900 STOP LOSS 17750 TARGET 18280
BUY BANK NIFTY AT 41200 STOP LOSS 40750 TARGET 41900
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Anil Singhvi Strategy: Bank Nifty support and resistance level
Anil Singhvi Strategy: Bank Nifty support and resistance level
Anil Singhvi Strategy on Nifty: Key support and resistance level
Anil SInghvi Strategy on Nifty, Bank Nifty: Key support and resistance level
Good Morning readers! This is Shivendra Kumar and I will bring you all the LIVE action from the stock markets today. Catch all the updates LIVE on this space.
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