Stock Market Highlights: Markets end with marginal cuts; Sensex settles near 58100, Nifty defends 17300
Stock Market Highlights: Markets end with marginal cuts; Sensex settles near 58100, Nifty defends 17300
Stock Market Today, 7 October, Highlights:
Benchmark indices Sensex and Nifty closed marginally down in volatile trade on Friday following profit booking in financials and IT shares amid a weak trend in global equity markets. Snapping its two-day gaining streak, the 30-share BSE Sensex declined 30.81 points or 0.05 per cent to settle at 58,191.29. During the day, it fell 370.95 points or 0.63 per cent to 57,851.15 but later pared most of the losses. The broader NSE Nifty dipped 17.15 points or 0.10 per cent to end at 17,314.65 as 32 of its stocks declined. Among Sensex shares, Mahindra & Mahindra fell the most by 1.37 per cent. UltraTech Cement declined 1.3 per cent, State Bank of India by 1.28 per cent, Tata Consultancy Services by 1.28 per cent, Bajaj Finance by 0.79 per cent and ITC by 0.77 per cent. Titan bucked the trend and rose the most by 5.27 per cent. Power Grid, NTPC, IndusInd Bank, Maruti, HDFC and Reliance Industries also advanced, helping the index cut losses.
ALSO READ: Nifty50 top gainers and losers: Buy Titan, say analysts; book profits on M&M
In the broader market, the BSE smallcap gauge ended 0.30 per cent higher and midcap index fell by 0.15 per cent. Among the BSE sectoral indices, oil & gas fell by 0.78 per cent, energy (0.72 per cent), metal (0.63 per cent), IT (0.57 per cent) and FMCG (0.52 per cent). However, consumer durables jumped 2.13 per cent, telecommunication (0.91 per cent), industrials (0.52 per cent) and capital goods (0.35 per cent). Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower.
Latest Updates
Top gainers
13 stocks ended in green and performed in the range of 0.09 per cent to 5.27 per cent.
Rupee vs Dollar: INR hits all-time low, slides past 82 mark for second time in row
Rupee on Friday fell 15 paise to close at an all-time low of 82.32 (provisional) against US dollar as a firm American currency and risk-averse sentiment among investors weighed on the local unit.
Nifty Bank ends lower by 0.27 per cent
Among top losers were IDFC First, SBI and ICICI Bank
Market This Week
Nifty 50 +1.28%
Sensex +1.33%
Bank Nifty +1.41%
Nifty Smallcap +2.6%
Nifty Midcap +2.5%Nifty Gainers
Coal India
ONGC
JSW Steel
Hindalco Industries
TitanNifty Lossers
Adani Enterprises
Eicher Motors
Hindustan Unilever
Tata Consumer Products
Mahindra & MahindraTop Cash Gainers
Mazagon Dock
Cochin Shipyard
Poly Medicure
JSW Energy
Godfrey PhilipsTop Cash Lossers
Godrej Consumer Products
Aavas Financiers
Suven Pharma
JM Financial
Dbur IndiaTop Gainers Sector Wise
Nifty Reality +3.37%
Nifty Metal +2.88%
Nifty IT +2.75%Closing Bell
Benchmark indices closed in red with marginal cuts. While Sensex finished near 58100, Nifty defended 17300.
Electronics Mart IPO subscribed 38.97 times on Day 3 of offer
The Initial Public Offering (IPO) of consumer durables retail chain Electronics Mart India received 38.97 times subscriptions on the third day of the offer on Friday.
Gold rises Rs 37; silver gains Rs 311
Gold price in the national capital rose Rs 37 to Rs 52,300 per 10 grams on Friday amid depreciation in rupee, according to HDFC Securities. In the previous trade, the precious metal had touched Rs 52,263 per 10 grams. Silver also gained Rs 311 to Rs 62,022 per kg from Rs 61,711 per kg.
Colgate Palmolive India announces record date
Colgate Palmolive India has said that a "Meeting of the Board of Directors of the Company will be held on Thursday, October 20, 2022, inter alia, to approve and take on record the Unaudited Financial Results for the quarter ended September 30, 2022 and to consider the declaration of interim dividend (if any)."
Equitas SFB gross advances up 20 per cent at Rs 22,802 crore at September quarter end
Equitas Small Finance Bank on Friday said its gross advances grew by 20 per cent to Rs 22,802 crore at end of September 2022 quarter. The Bank's gross advances in the year-ago period of September 2021 stood at Rs 18,978 crore.
World Bank downgrades India's economic growth forecast for FY23
The World Bank has projected a growth rate of 6.5 per cent for the Indian economy for the fiscal year 2022-23, a drop of one per cent from its previous June 2022 projections, citing deteriorating international environment.
Varroc Engineering Limited down by over 8 per cent
Varroc Engineering Limited, a global tier-1 automotive component manufacturer and supplier of exterior lighting systems, plastic and polymer components, was down by over 8 per cent and trading at Rs 311.40 at around 12:46 pm.
Indian Hume Pipe Company Limited share jumps over 12 per cent
Indian Hume Pipe Company Limited scrip jumped around 12.22 per cent on NSE to trade at Rs 182.35.
PSU Banks under pressure
Nifty PSU Bank index was trading low on Friday with shares of all major banks in red between 0.50 to 3 per cent at 11:20 am. Bank of Baroda, State Bank of India and PNB were among the top losers, cracking 3 per cent, 1.58 per cent and 1.09 per cent respectively.
Brent crude futures dips 0.07 per cent
The international oil benchmark Brent crude futures dipped 0.07 per cent to USD 94.35 per barrel.
Rattanindia Enterprises Limted stock up by over 10 per cent
A day after Rattanindia Enterprises Limited announced that it is buying the state it is buying stakes in electric motorcycles maker Revolt Motors. The stock of the Rattanindia was up by over 10 per cent to trade at Rs 55 at around 10:49 am.
Rattanindia Enterprises Limted stock up by over 10 per cent
A day after Rattanindia Enterprises Limited announced that it is buying the state it is buying stakes in electric motorcycles maker Revolt Motors. The stock of the Rattanindia was up by over 10 per cent to trade at Rs 55 at around 10:49 am.
M&M, SBI, ICICI Bank, ITC among top drags
Index heavyweights Mahindra & Mahindra, SBI, ICICI Bank, Tata Steel and ITC were the top drags on the Sensex pack. M&M, SBI declined over 1 per cent to trade at Rs 1241 and Rs 531, respectively. ITC was down by around 0.70 per cent to trade at Rs 334 apiece.
US jobs data in focus
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that an important data which can influence markets globally is the US jobs data expected tonight. The fact that FIIs have stopped selling and have turned buyers, though in small quantities, is positive for markets.
'Cautious trend'
Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities, said that equity markets could exhibit a cautious trend with a negative bias in Friday trade owing to weakness across the global indices. The US September jobs report to be released later today would be keenly watched by investors the world over as this would set the market direction for the near term.
Top 5 gainers and losers at Nifty50 at 9:58 am
Sanjiv Bhasin recommends Bharti Airtel and Grasim
Sanjiv Bhasin of IIFL Securities said that Bharti Airtel and Grasim are the two best stocks to buy today.
Bharti Airtel
Target: Rs 815
Stop Loss - Rs 765Grasim
Target: Rs 1730
Stop Loss: 1645Reliance, HCL Tech among top gainers
Apart from Titan, HCL Tech, Reliance, and Maruti Suzuki were among the top Sensex gainers in early trade.
Nifty Bank among biggest losers in sectoral indices
In sectoral indices, Nifty Bank was among the biggest losers and was down by around 1 per cent at 9:40 am
Titan gains over 5%
Titan is top gainer among Nifty50 pack. The scrip has gained over 5 per cent to trade on NSE at Rs 2,729.95 at 9:35 am after the company on Thursday said its overall sales grew 18 per cent year-on-year in the September quarter. Titan also added 105 stores in its retail network in the second quarter of the current fiscal, it said in an exchange filing.
Sensex Top Gainers and Losers at 9:25 AM
Rupee hits fresh record low, crosses 82
Rupee falls 16 paise to all-time low of 82.33 against US dollar in early trade, according to PTI. READ FULL STORY
Macquarie revises Titan target
Macquarie has revised Titan target. It has given outperform rating on the stock and set the new target at Rs 3100. Titan CMP: Rs 2593
Sensex falls 250 points in pre-open
Sensex falls 250 points and Nifty was below 17200 in pre-open.
Stocks to buy today, October 7: Titan, Tata Motors, Hero MotoCorp, Polycab India among 20 shares in focus FULL LIST HERE
FIIs activity on Thursday
Tata Steel, Larsen & Toubro, ICICI Bank among top gainers on Thursday
Among Sensex shares, Tata Steel, Larsen & Toubro, ICICI Bank, HCL Technologies, Infosys and Axis Bank were among the winners.
FIIs net buyers on Thursday
Foreign institutional investors were net buyers as they bought shares worth Rs 279.01 crore on Thursday, according to data available with BSE.
How Rupee performed on Thursday
Rising international oil prices saw the Indian rupee depreciating to Rs 81.94 against the US dollar. The rupee opened at Rs 81.52 on Thursday at the interbank forex market and then went down to Rs 81.94.
Sensex, Nifty on Thursday
On Thursday, BSE Sensex rose by 156 points or 0.27 per cent to settle at 58,222.10 while the Nifty advanced 57.50 points or 0.33 per cent to end at 17,331.80 as 27 of its shares ended in the green.
Oil prices at 3-week high
Oil prices rose, holding at three-week highs after the Organization of the Petroleum Exporting Countries plus its allies agreed to cut production targets by 2 million barrels per day (bpd), the largest reduction since 2020.
US Stock Market Update
The Dow Jones Industrial Average fell 346.93 points, or 1.15%, to 29,926.94, the S&P 500 lost 38.76 points, or 1.02%, to 3,744.52 and the Nasdaq Composite dropped 75.33 points, or 0.68%, to 11,073.31.Nikkei falls 1.23%
Tokyo shares opened lower on Friday amind growing concerns over the US rate hike to tame inflation. The benchmark index fell 1.23 per cent or 336.46 points to 26,974.84 in early trade.
SGX Nifty hints at negative start for Sensex, Nifty
SGX Nifty on the Singapore Exchange traded 35 points, or 0.20 per cent, lower at 17,281 at 7:45 am, indicating a negative start for Indian markets on Friday.
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