Stock Markets on 25 October - Sensex falls by nearly 300 points, Nifty50 ends below crucial 17700 levels amid profit booking ahead of Thursday holiday
Stock Markets on 25 October - Sensex falls by nearly 300 points, Nifty50 ends below crucial 17700 levels amid profit booking ahead of Thursday holiday
Stock Markets Today Updates: Indian stock markets shed their opening gains and ended today's trading session in the red amid profit booking ahead of market holiday on 26 October, Wednesday. While the BSE Sensex ended at 59,543.96, down by over 287.70 points or 0.5 per cent, the 50-share Nifty50 index closed at 17,656.35, down by 74.40 points or 42 per cent. The domestic equity markets will remain shut for trading on account of Diwali Balipratipada. There was presure in the market due to lacklustre show by the FMCG sector and private banks. The markets will reopen on Thursday which will also be a day of monthly expiry. Catch the FULL UPDATES of the action here!
Latest Updates
Deveya Gaglani, Research Analyst, Axis Securities
The negative correlation between the Gold and Dollar index continues. Gold prices are currently trading near two-week high, around the $1665 level, as the dollar index sank below $110 for the first time in 6-week, boosting precious metals appeal. There is a mounting expectation from the Fed that they will soften its aggressive stance this year. Investors are betting that economic data in the US will ultimately lead to a softer approach by the FED in raising interest rates at the end of the year. The dollar index is down by nearly 5 percent from its recent high hit in September. We expect Gold prices to gain traction in the near future as it is in oversold territory. As long as the $1620 level is intact on the downside, it may rally up to $1720 in the month of November.
(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 Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP
Rupee moved in a range of 82.58 to 82.79 during the course of the day when volumes were low due to holidays in many parts of India and Asian currencies were all down against the dollar.
The dollar index was at 112.01 virtually unchanged while oil was also unchanged. The only change was in CNH which almost touched 7.36 levels keeping rupee weaker.
The Indian markets are closed tomorrow and we are expecting rupee to be range bound in the balance two days between 82.40 to 83.00 with risk to the upside for the pair.
(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.)
Nifty50, Sensex Top Gainers and Losers
In the 30-stock BSE Sensex, 11 ended in the green while 19 in the red. The top gainers were Tech Mahindra, Larsen & Toubro, Maruti Suzuki, Dr Reddy's Laboratories and State Bank of India (SBI). The top losers were Nestle India, Hindustan Unilever, Bajaj Finserv, Kotak Mahindra Bank and HDFC.
In the 50-share Nifty50, 18 stocks advance while the remaining 32 declined.
Tech Mahindra, Larsen & Toubro, Maruti Suzuki, JSW Steel and Eicher Motors. The top losers were Britannia Industries Nestle India, Hindustan Unilever, Bajaj Finserv and Kotak Mahindra Bank.
FSN E-Commerce Ventures or Nykaa shares have fallen below their issue price of Rs 1125 and were trading at Rs 1,111.65 on the NSE on Tuesday. The stock was down by Rs 32.25 or 2.82 per cent from the Monday closing price. In the process, the stock also hit its 52-week lows of Rs 1,108.05. The 52-week high is 2,573.70 which the stock hit in November last year.
Another stock Delhivery, also was trading at Rs 384.55, down by Rs 14.65 or 3.67 per cent from the previous closing price. The stock hit its 52-week lows of Rs 376.95 on 21 October.
Stocks to Buy - Expert Vikas Sethi gives two picks - one from cash market and second from Futures & Options.
RVNL: Sethi recommends Rail Vikas Nigam Limited has his top buy. The company is into developing rail infrastructure project implementation. He call this a compay with strong fundamantals and orderbook.
Another stock recommended by him is Hindustan Aeronautics Limited - another company with strong fundamentals. This is from the Futures & Options segment. The stock was recommended at a price of Rs 2508.40. Buying is advised in November futures, Sethi said.
. Anil Singhvi Strategy on Nifty: The Managing Editor said that 17700 is an important level in Nifty50. He suggested profit booking if the index test levels between 17775 and 17825.
Top Index Contributors on BSE
Crude oil futures decline on low demand
Crude oil futures on Tuesday declined by 0.55 per cent to Rs 7,008 per barrel as participants trimmed their positions on low demand.
On the Multi Commodity Exchange, crude oil for November delivery fell by Rs 39 or 0.55 per cent to Rs 7,008 per barrel with a business volume of 4,227 lots.
Globally, West Texas Intermediate crude oil was trading 0.07 per cent higher at USD 84.64 per barrel, and Brent crude was down 0.05 per cent to USD 93.21 per barrel in New York.
Cottonseed oil futures fall on soft demand
Cottonseed oil cake prices on Tuesday declined by Rs 16 to Rs 2,419 per quintal in futures trade as participants reduced their bets following weak trends in spot markets.
On the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery fell by Rs 16 or 0.66 per cent to Rs 2,419 per quintal with an open interest of 41,460 lots.
Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices.
Inputs from PTI
Volume Toppers on BSE today:
Market Expert Chandan Taparia's top recommendations
- Buy Nifty with a stop loss of 17500 and target of 17850
- Buy Bank Nifty on decline with a stop loss of Rs 40750 and price target of Rs 41840
- Buy Canara Bank with a stop loss of Rs 273 and price target of Rs 292
- Buy KPIT Technologies with a stop loss of Rs 720 and price target of Rs 765
(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.)
Nifty Midcap +0.40%
Nifty smallcap +0.105
Midcap Banks Gainers
South Indian Bank +17%
J&K Bank +7%
PNB +5%
Bank of India +4%Cement Gainers
JK Lakshmi Cement +4.2%
Sagar Cement +2.50%
India Cement +2.50%
Saurashtra Cement +1.90%Railway Gainers
RVNL +7%
Kernex Micro +5%
Rites Ltd +4%
Ircon International +3%Midcap IT Gainers
KPIT Technologies +4%
Sasken Technologies +3.60%
Cigniti Technologies +3.5%
Persistent Systems +2.50%Auto Ancillary Losers
Ramkrishna Forgings – 4%
Mahindra CIE - 2.5%
Lumax IND - 2.60%
Rane (Madras) -2.1%.Consumer Durable Losers
TVS Electronics -3%
Amber Ent -2.60%
TTK Prestige -2.50%
Whirlpool -1.08%Hosiery Losers
Page -2.50%
Lux Industies -2.30%
VIP CLothing -2%
Rupa and Company -1.05%Pharma Losers
Laurus Labs - 5.55
Bajaj Healthcare - 2.50%
SMS Lifesciences - 2.10%
Strides Pharma -2%Stocks to Buy: Nilesh Jain of Centrum Broking
- THE INDIAN HOTELS COMPANY LIMITED - Stop loss is Rs 315, target price is 332
- BUY Varun Beverages with a stop loss of Rs 1026 and target of Rs 1070/1100
Indian markets today dragged because of a lacklustre show by FMCG and private banks. Pressure was seen in indices and in the overall markets. In the 15 sectoral indices on the NSE, 8 were trading in the red around 1:10 pm while sevem were in the green. The worst intraday performer was Nifty FMCG which was down by 1.15 per cent around this time. Ten stocks in this index were losers and the rest five were trading with gains. Nestle India and Britannia Industries were the biggest laggards while United Spirits and Varun Bewerages were top performers.
Rupee Vs Dollar:INR gains 26 paise to 82.62 against US dollar
The rupee appreciated 26 paise to 82.62 against the US dollar in early trade on Tuesday tracking a positive trend in domestic equities.
At the interbank foreign exchange, the domestic unit opened at 82.71 against the dollar, then gained some ground to quote at 82.62, a gain of 26 paise over its previous close.
In the previous session on Friday, the rupee slipped 9 paise to close at 82.88 against the dollar.
The forex market was closed on Monday on account of Diwali.
The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.12 per cent to 111.85.
Brent crude futures, the global oil benchmark, rose 0.28 per cent to USD 93.52 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 51.96 points or 0.09 per cent higher at 59,883.62. Similarly, the broader NSE Nifty rose 23.80 points or 0.13 per cent to 17,754.55.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 153.89 crore on Monday, according to exchange data.
Currency expert Anuj Gupta recomemnds a BUY on NSE USDINR OCTOBER Futures at 82.60 with as stop loss of 82.40 with a price target of 82.90. The 27 October USDINR futures wee trading at 82.7775, down by 0.0550 or 0.0664 per cent.
Domestic stock markets gave some early gains and were trading in the green at 11:15 am on Tuesday. While the BSE Sensex was trading at 59,646.69 down by 184.97 points or 0.31 per cent, while Nifty50 was trading at 17,679.70, down by 51.05 points or 0.29 per cent.
In the commodities markets, MCX December Gold futures were also trading with relative weakness around this time. The Gold Futures were trading at 50547, down by Rs 33 per 10 gram or 0.07 per cent. Meanwhile, 57685 was down by Rs 63 per kg and was trading at 57984.
Source: MCX Indian markets witness some profit booking at higher levels. At 10:25 am, Sensex was trading at 59,784.75, down by 46.91 points or 0.08 per cent. Meanwhile, Nifty50 was 17,718.15, down by 12.60, 0.07 per cent.
Intraday chart of Nifty50, Sensex trading action
Source: NSE Source: BSE According to BSE data, out of the 2657 stock that were trading today, 1133 stocks were trading positively while the remaning 1436 were in the red. In this 88 stocks remained unchanged. *2 stocks hit 52 weeks high on BSE while 14 hit 52 week's lows.
MCX Gold and Silver Futures - Intraday trading strategy
MCX December Gold futures were trading at Rs 50628 per 10 gram and were up by Rs 48 or O.09 per cent from the previous closing price. Meanwhile, December Silver futures were trading at Rs 57914 and were up by Rs 166 or 0.29 per cent around this time. Anuj Gupta, who is Vice President (VP), Commodity and Currency Research at IIFL Securities givs his intraday trading strategy on Gold and Silver futures
BUY MCX GOLD DEC AT 50500 SL 50250 TARGET 50900
BUY MCX SILVER DEC AT 57400 SL 56800 TARGET 58500
BUY MCX CRUDEOIL NOV AT 7000 SL 6850 TARGET 7200
BUY MCX COPPER AT 652 SL 646 TARGET 660
BUY NSE USDINR OCT AT 82.60 SL 82.40 TARGET 82.90
BUY NCDEX GUARSEED NOV AT 4590 SL 4480 TARGET 4750
(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.)
Sensex and Nifty50 Top Gainers and Losers
Indian stock markets gave up opening gains on Tuesday and were trading marginally lower from the Monday closing price, shortly after starding the day's trading session. At 9:26 am, Nifty50 was trading at 17,720.15, down by 10.60 points or 0.06 per cent. In the 50-stock index, 20 stock advanced, 29 declined while one stock remained unchanged. Maenwhile, BSE Sensex was switching sides hopping from red to green zone. It was trading at 59,857.21, up by 25.55 points or 0.04 per cent. In the 30-stock index, 15 were gainer while the remaining were in the red
Anil Singhvi Strategy for 25th October
Global: Positive
FII: Positive
DII: Neutral
F&O: Neutral
Sentiment: Positive
Trend: PositiveNifty support zone 17625-17675, Below that 17525-17575 Strong Buy zone
Nifty higher zone 17775-17825, Above that 17875-17925 Profit booking zone
Bank Nifty support zone 41050-41200, Below that 40650-40775 Strong Buy zone
Bank Nifty higher zone 41475-41500, Above that 41650-41825 Profit booking zone
Nifty support levels 17675, 17625, 17575, 17525, 17475
Nifty higher levels 17775, 17800, 17875, 17925, 17975
Bank Nifty support levels 41200, 41150, 41050, 40900, 40775, 40650, 40500
Bank Nifty higher levels 41400, 41475, 41500, 41650, 41825
FIIs Index Long at 34% Vs 30%
PCR at 1.16 Vs 1.03
BankNifty PCR at 1.33 vs 1.15
India VIX unchanged at 17.28For Existing Long Positions:
Nifty Intraday n Closing SL 17575
BankNifty Intraday SL 41000 n Closing SL 40750For Existing Short Positions:
Nifty Intraday n Closing SL 17800
BankNifty Intraday n Closing SL 41500For New Positions:
Buy Nifty in 17575-17625 range:
SL 17500 Tgt 17675, 17725, 17775, 17800, 17875, 17925Aggressive Traders Sell Nifty in 17825-17925 range:
Strict SL 18025 Tgt 17775, 17725, 17675, 17625, 17600, 17575For New Positions:
Buy BankNifty in 40650-40800 range:
SL 40500 Tgt 41000, 41150, 41200, 41275, 41400Aggressive Traders Buy BankNifty in 41050-41150 range:
Strict SL 41000 Tgt 41275, 41400, 41475, 41650, 41825Aggressive Traders Sell BankNifty in 41500-41825 range:
Strict SL 41900 Tgt 41425, 41300, 41200, 41150, 41050, 40800F&O Ban Update:
Out Of Ban: BHEL
New In Ban: Nil
Already In Ban: NilTraders Diary
Stock Recommendations by Senior Research Analyst Varun Dubey
Cash
Buy PCBL Target Rs 145 SL RS 137Futures
Buy ICICI Bank Target Rs 950 SL RS 920Options
Buy Reliance 2480 PE Target Rs 30 SL RS 20Tech
Buy Rallis India Target Rs 244 SL RS 230Funda
Buy Tata Motors Target Rs 410 SL RS 398Invest
Buy Tata Elxsi Target Rs 9000 Duration 6 MonthsNews
Buy KEC Intl Target Rs 440 SL RS 415My Choice
Sell Bandhan bank Target Rs 260 SL RS 270
Sell Atul Ltd Target Rs 8150 SL RS 8400
Buy Indian Hotels Target Rs 328 SL RS 310Best Pick
PCBL Target Rs 145 SL RS 137Traders Diary
Top Recommendation from Zee Business' Kushal Gupta
Cash
Likhita Infra - Buy - 388, sl - 371FTR
Infosys - Buy - 1550, sl - 1490OPTN
L&T 1920 CE@10 - Buy - 22, SL - 6Techno
JK Tyre - Buy - 178, sl - 170Funda
Mahindra Holidays - Buy - 330
Duration - 6 monthsInvest
Delta Corp - Buy - 260
Duration - 3 monthsNews
Berger Paints - Buy - 620, sl - 580Mychoice
Dollar Industries - Buy - 530, sl - 505
Star Paper - Buy - 210, sl - 203
SBI - Buy - 585, sl - 563Best Pick
Mahindra Holidays - Buy - 330
Duration - 6 monthsStocks in Focus
CLSA on ICIC Bank (CMP: 907)
Maintain Buy, Target Raised to 1200 from 1150Goldman Sachs on ICICI Bank (CMP: 907)
Maintain Buy, Target raised to 1075 from 1059
Credit Suisse on ICICI Bank (CMP: 907)
Maintain Outperform, Target raised to 1075 from 1025
Citi on ICICI Bank (CMP: 907)
Maintain Buy, Target raised to 1080from 1030
HSBC on ICICI BANK (CMP: 907)
Maintain Buy, Target raised to 1100 from 1020CLSA on DLF (CMP: 370)
Maintain Buy, Target 470
JP Morgan on DLF (CMP: 370)
Maintain Overweight, Target 490
Citi on DLF (CMP: 370)
Maintain sell, Target 268CITI ON JSW Steel (cmp: 630)
Maintain Neutral, TARGET Rs 625
2Q standalone EBITDA fell 80% yoy hurt by 12% drop in steel realizations & higher costs (+20%), Vols rose 32% yoy.
EBITDA/t: Rs3500 vs Rs8300 in 1Q & Rs22,900 last yr
Bhushan Steel reported a -ve EBITDA/t of Rs2860 vs +ve Rs14500 in 1Q
Trading Calls today
Choice Broking
Buy HIND ZINC IN CASH @283 SL 273 TGT 299Anand Rathi
BUY ICICI BANK SL 915 TGT 955Centrum Broking
BUy BHARTI ARTL SL 791 TGT 822
BUY DELTA CORP SL 222 TGT 232(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.)
Indian Origin Rish Sunak's appointment as the new British Prime Minister news lifted the mood of the European Markets. FTSE 100 ended the session at 7,013.99, up by 44.26 points or 0.64 per cent. Meanwhile, DAX closed at 12,931.50 on Monday and was up by 200.55 points or 1.58 per cent. His appointent was made after market hours. It will be interesting to see European and Indian markets react when they reopen today.
US Markets ended in the green on Monday. Key indices Dow 30, Nasdaq Composite and S&P 500 settled the day in the red. Meanwhile, Dow 30 was trading with some waekness on Tuesday at 31,472.80 down by 26.80 points or 0.09 per cent. SGX Nifty was trading at 17,814.0, down by 30 points 0.17 per cent.
- DOW 30 closed at 31,499.60, up by 417.06 points or 1.34 per cent on Monday.
- S&P 500 closed at 3,797.34, 44.59 or 1.19 points higher.- NASDAQ COMPO closed at 10,952.60, up by 92.90 points or 0.86 per cent.
Source: Comex
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