Stock Market News Highlights: Sensex rises for 6th session in row, Nifty holds 17550; Axis Bank zooms 9%
Stock Market Highlights: While the benchmark 30-share BSE Sensex surged over 236 points, 0.40 per cent, to open at 59439.41, the broader 50-share NSE Nifty50 was up by over 59 points, 0.34 per cent, and traded above 17,600 in early trade.
Stock Market Highlights: Equity benchmark indices managed to end in the positive territory after facing volatility in the latter part of the trade on Friday amid gains in Axis Bank and ICICI Bank. Foreign institutional investors (FIIs) turning net buyers in the market on Thursday after many sessions also added to the momentum.
The 30-share BSE Sensex ended 104.25 points or 0.18 per cent higher at 59,307.15, logging its sixth day of gains. During the day, it jumped 388.03 points or 0.65 per cent to 59,590.93. The broader NSE Nifty ended marginally higher by 12.35 points or 0.07 per cent at 17,576.30.
From the Sensex pack, Axis Bank zoomed 8.96 per cent after the company on Thursday reported a 66.29 per cent jump in its consolidated net profit for the September quarter at Rs 5,625.25 crore, driven by a substantial decrease in bad loan provisions and margin expansion.
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European shares drop
European shares dropped on Friday, triggered by fears that major central banks would retain their aggressive rate-hike stance to rein in prices
CSB Bank Q2 result
CSB Bank has posted net profit of Rs 120.5 crore in the quarter ended September 2022
Nifty Bank reclaims 41000
Nifty Bank on Friday zooms over 2.27 per cent to reclaim the level of 41000.
HUL stock surge 1% ahead of Q2 results
Hindustan Unilever stock jumped more than 1 per cent in the early trade as investors exhibit positive sentiment for Q2 results to be announced on Friday.
Bajaj Finance biggest Nifty50 loser despite strong Q2 performance
Bajaj Finance stock dropped on Friday, October 21, as investors' sentiment turned negative post announcement of second quarter results. A 12:20 PM, the stock quoted a price of Rs 7,265 apiece, declining 2.25 per cent on NSE -- biggest loser, against 0.50 per cent rise in the benchmark index. The downtrend was seen despite the Bajaj Group company reporting heathy numbers in the July-September quarter of the current fiscal.
Tracxn Technology share price
Tracxn Technology shares jump 2.79 per cent on Friday. The scrip was trading at Rs 95.85.
Rupee falls 12 paise to 82.91 against US dollar
The rupee depreciated 12 paise to 82.91 against the US dollar in morning trade on Friday tracking a firm American currency in the overseas market.
At the interbank foreign exchange, the domestic unit opened at 82.89 against the dollar, then lost further ground to 82.91, registering a loss of 12 paise over its previous close.Govt seeks $7.7 billion value for IDBI Bank in stake sale; stock rises over 2.5%
IDBI Bank stock gained on Friday, October 21, after reports emerged that the government is pushing for a valuation of around $7.7 billion for the state-owned bank, Zee Business channel reported quoting Bloomberg. READ MORE
Gold Price Today
Brokerages on Axis Bank
Top gainers at BSE
Opening Bell: Sensex, Nifty gain despite weak global cues
Sensex jumped over 200 points to open at 59406, Nifty tops 17600
Q2 Results Today, October 21
Bajaj Finserv, HDFC Life, JSW Steel, SBI Life Insurance, DLF, CRISIL, DLF, IDBI, Hindustan Unilever Limited and others
Dixon tech – BETTER THAN ESTIMATES
Stock is down 24% YTD
Up 11% in last 3 months
Q2FY23 YOYRev at Rs.3867cr vs 2804cr, up 38% (EST Rs.3510cr)
EBITDA at Rs.145cr vs 110cr, 32% (Est Rs.133cr)
Margins at 4% vs 4% (Est 4%)
PAT at Rs.77cr vs 63cr, up 22% (Est 70cr)
Morning Cues
ACROSS ALL SERIES/ MONTH SERIES
NIFTY Open Interest Charge 10.04%, Adds 13.83 lakh shares
Nifty October Fut at -23.25 points DISC vs -17.6 points DISC
Nifty Nov Fut at 17.5 points PREM vs 20.4 points PREM
BANKNIFTY Open Interest Charge 4.88%, Adds 1.00 Lakh shares
Nifty Bank October Fut at 105.8 points PREM vs 28.55 points PREM
Nifty Bank Nov Fut at 279.15 points PREM vs 181.75 points PREM
Nifty October Open Interest Charge 3.2%, Adds 3.51 lakh shares
Nifty Bank October OI Chg -4.3%, Sheds -0.68 Lk sharesNifty PCR (All Contracts) = 1.29 vs 1.13
Bank Nifty PCR (All Contracts) = 0.86 vs 1.06
TATA Consumer products – LARGELY IN LINE NUMBERS
Q2FY23 YOY – REVIEW
Rev at Rs.3363cr vs 3033cr, up 11% (EST Rs.3339cr)
EBITDA at Rs.434cr vs 413cr, up 5% (Est Rs.423cr)
Margins at 13% vs 13.6% (EST 13%)
PAT at Rs.328cr vs 268cr, up 22% (Est Rs.268cr)
India Packaged Beverages business recorded 7% revenue decline
India Coffee continued its strong performance with a revenue growth of 39% during the quarter
International Beverages business revenue grew 7%
Tata Starbucks recorded strong revenue growth of 57% for the quarter yoy
IEX FY23 Q2 Review(YoY) (Conso)Weak
REVENUE 95.19 cr VS 110.37 Cr DOWN -13.8%
EBITDA 78.91 Cr VS 95.03 Cr DOWN -17%
MARGIN 82.90 % VS 86.10 %
PAT 71.2 Cr VS 77.72 Cr DOWN -8.4%Stocks In News Today, October 21
ITC, Axis Bank, ColPal and others in news today READ MORE
Q2FY23 Results, Wall Street Action, Rupee movement - top triggers which will impact market movement on 21 October READ MORE
SGX Nifty signals muted start
SGX Nifty was up by 8 points or 0.05 per cent at 8:15 am, after starting in red on Friday, signaling that Dalal Street was headed for a muted start on Friday.
Rupee closes at 82.79 against US dollar
The rupee rebounded from its lifetime low to close 21 paise higher at 82.79 against the US dollar on Thursday amid weakness in the greenback overseas.
Sensex, Nifty on Thursday
After swinging between gains and losses throughout the session, the 30-share BSE Sensex saw robust buying towards the fag-end to close 95.71 points or 0.16 per cent higher at 59,202.90.
Similarly, the broader NSE Nifty climbed 51.70 points or 0.30 per cent to 17,563.95.Good morning readers! Indian benchmark indices ticked higher for the fifth straight session on Thursday, buoyed by fag-end buying in IT stocks despite a largely downbeat trend overseas. A recovery in the rupee also boosted investor confidence. Follow Zee Business Live Blog for all the latest updates on the stock market.
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