Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended higher for the sixth straight day on Thursday, a day of weekly F&O expiry. BSE Sensex rallied 568 points to end at 61,305, first time ever above 61,300, while the Nifty 50 index settled at 18338, rising 177 points. ITC was the biggest gainer among the BSE 30-share frontline companies pack, gaining 3 per cent, followed by HDFC Bank, Power Grid Corporation of India, ICICI Bank, IndusInd Bank, NTPC, Larsen & Toubro (L&T), Reliance Industries Ltd (RIL), Axis Bank, Titan Company. On the flip side, Tata Consultancy Services, HCL Technologies, Bajaj Finance, Bharti Airtel, Sun Pharma were the top BSE Sensex laggards. Barring Nifty Auto, all the sectoral indices ended in the green. Bank Nifty posted a record closing, ending near 39,350 for the first time ever.
BSE Sensex rallied 568 points to end at 61,305, first time ever above 61,300, while Nifty 50 index settled at 18338, rising 177 points
The market witnessed the continuation of a positive trend, after sustaining above the level of 18250. Research suggests that if the market sustains above the level of 18200-18250, the market is expected to continue the positive momentum, leading to an upside projection till 18550-18600 level. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook. Ashis Biswas, Head of Technical Research at CapitalVia Global Research
BSE Sensex rallied 600 points or one per cent to 61,336, while the Nifty 50 index surged 189 points or one per cent to 18,343.40
The festive season bundled with region-specific offers from developers, is expected to boost the momentum while encouraging home buyers to invest in residential real estate with smart infrastructure and proptech solutions for better ROI. At our project ‘Universe’ at Life Republic Township, Hinjewadi in Pune, our JV partner Kolte-Patil Developers has launched a special offer – The Great Home Coming Festival. As part of this offer, buyers at Universe will get a voucher worth INR 1 Lakh and goodies like free modular kitchen, AC, Smart TV, fridge, washing machine and other such electronic appliances. Daniele Russolillo, COO & Deputy CEO, Planet Smart City
BSE Sensex and Nifty 50 were trading at record high levels on Thursday, extending the previous day’s rally. Headline indices, Sensex and Nifty, scaled their respective lifetime highs today, hitting 61,216.26 and 18,323.20, respectively. Amid this rally, seven stocks — HDFC Bank, ITC, Larsen & Toubro, NTPC, Power Grid Corporation of India, State Bank of India, and Sun Pharma — hit 52-week highs on the 30-stock BSE Sensex.
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Our research suggests that 59800-61000 will be an important support level in the market. If the market sustains above 61000. We can expect the market to trade in the range of 61000-61300. Technical indicators also support positivity in the market. Likhita Chepa, Senior Research, Analyst, Capitalvia Global Research
India VIX, the volatility gauge, was down more than 2% on Thursday. Often called the fear gauge of domestic markets, the index was sitting below 16 levels.
Credit and Finance for MSMEs: Online MSME lender Lendingkart on Thursday said it has hit the $1-billion loan disbursement mark since it received its non-banking financial company (NBFC) license in 2015. The loans were disbursed to 1.3 lakh MSMEs so far. Lendingkart, which competes with Indifi, Aye Finance, Flexiloans, Capital Float, NeoGrowth Credit, U GRO Capital, Kinara Capital, and more, in the MSME lending space, offers short-term collateral-free working capital loans with little or no credit history available of borrowers. The loan size ranges from Rs 50,000 to Rs 2 crores with a repayment period of one to 36 months.
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We are continuing to maintain our bullish views on Nifty and Bank Nifty. Nifty has crossed a psychological level of 18000 now 18450-18600 are the levels to watch for. Banknifty is still struggling compared to Nifty but still, it has the potential to check psychological levels of 40000 and sustain above it very soon. Till Diwali, the market may continue to remain bullish and the targets for the Nifty is above the 18750-18900 zone. For the Sensex one can see the levels of 63000-64500. Vishal Wagh, Head of Research, Bonanza Portfolio Ltd
Rakesh Jhunjhunwala has trimmed stake in pharma major Lupin to below one per cent. Earlier, Rakesh Jhunjhunwala held a 1.6 per cent stake or 72.45 lakh shares of Lupin, as of 30 June 2021. However, Rakesh Jhunjhunwala’s name didn’t appear in the list released by the company earlier this week per the latest filing for shareholding. Companies don’t need to report the names of shareholders holding less than one per cent stake in the company. Trendlyne shows Rakesh Jhunjhunwala’s holding in Lupin as ‘below 1%’ as on 30 September 2021.
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With increased mobility and optimistic outlook on the consumer confidence index, we expect the companies to continue with their growth momentum into H2FY22. Further, rural demand continues to be resilient as a result of good crop, MSP support, and normal monsoon. Success of launches, distribution reach, price hikes, and improvement in international business will be the key monitorables. Companies have been refocusing on core strengths (product innovation, distribution expansion, cost and capital efficiencies) since H2FY21. HDFC Securities
Nifty hit a historic high of 18,300 for the first time ever, rising 134 points or 0.75 per cent
The index has successfully achieved its first pit stop of 18250. We should now be headed to 18400 as the next level for the Nifty. 17800 continues to remain the support for the markets and as long as that holds, we should buy into dips or intraday corrections in anticipation of higher targets. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Infosys share price soared 4% on Thursday morning to trade as the top Sensex gainer as investors reacted to the quarterly results posted by the company. The second-largest IT services firm said its consolidated net profit grew 11.9% on-year basis in the July-September quarter to reach Rs 5,421 crore. Infosys reported a 20.5% jump in revenue to Rs 29,602 crore in the quarter under review from Rs 24,570 crore in the year-ago period while announcing an interim dividend of Rs 15 per share. Infosys share price has soared 37.6% so far this year, to now sit at Rs 1,785 per share.
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The US inflation data triggered a buying spree in Gold as precious metal jumped near $40 higher. September’s inflation numbers showed price pressures accelerating to 5.4% annually, slightly more than the market was expecting. Inflation has returned to 13 year high and with the stock market being in an overbought zone, we might see money shifting from risky assets to safe haven assets like Gold. We have seen Treasury yields flattening which is positive for Gold. Now investors are anticipating a rate hike sooner than expected. More persistent inflation could mean a more aggressive Federal Reserve when it comes to tightening.
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We believe that the USDINR pair should correct down towards 74.80 and 74.50, which has an 80% probability. The key player for rupee management- “The RBI”, has so far done a remarkable job by not intervening too aggressively in selling dollars and let it be driven by market forces. However, considering the huge chunk of inflows paring the way, it will be watchful whether it also remains active downside. Overall, the medium-term trend for the USDINR pair remains bullish. But for a healthy and steady-up move, correction is required. And hence we believe that over the medium term, the USDINR pair will remain on a bullish note. Only if the crucial resistance of 75.50 is broken on account of any major market trigger, though having less probability in immediate time, then take it can take rupee towards 76.00 levels over the medium term. Amit Pabari, CR Forex Advisors
MCX GOLD DEC prices yesterday crossed above key averages on daily chart. Prices crossed above 50 and 200 Day Moving Average levels. The RSI indicator is trading in a bullish zone which suggests positive bias going further. Gold prices are expected to be less volatile today. Resistance near 48200 acts as an important resistance if prices manage to sustain above these levels, next resistance prices will face is near 48,450 levels. Immediate support for prices is near 47350. NS Ramaswamy, Head of Commodities, Ventura Securities
On the sectoral front, all the Nifty sectoral indices were trading in the green. Bank Nifty was up 0.23 per cent, Nifty Auto gained 1.18 per cent, and Nifty IT added 2.5 per cent.
Power Grid Corporation of India, M&M, Housing Development Finance Corporation (HDFC), Bharti Airtel, IndusInd Bank were among top index losers
Infosys, Tech Mahindra, ITC, L&T, NTPC, Tata Steel, Maruti Suzuki, HCL Tech, UltraTech Cement, RIL, were among top Sensex gainers
BSE Sensex clinched 61,000, rising over 300 points, while NSE Nifty 50 crossed 18250 for the first time on Thursday
Gold has been consolidating in the past few weeks amid mixed economic data and Fed’s tapering plans. But now finally gold has found a way out after the US inflation for September rose to a 13-year high of 5.4% year on year. Market has already discounted Fed’s tapering in November and the prospects of stagflation might incur some safe haven buying in the yellow metal. MCX Gold December future may witness a small pullback today after yesterday’s rally and may trade in the range of Rs.47,600 – 48,100 per 10 gram for the day. Jigar Trivedi, Research Analyst- Commodities Fundamental, Anand Rathi Shares & Stock Brokers
Since there are no known triggers for a sharp correction in the short run and the market momentum continues to be strong, the exuberant retail investors are likely to drive the markets further up even though seasoned investors are worried about the excessive valuations. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
In Nifty current series, there has been a Long Addition witnessed with an increase in the price of 3.12% and increase in OI by 13.61% as of Wednesday wherein there was addition of 16.62 lakh shares in OI, increasing from 116.52 lakh to 138.69 lakh shares. Nifty October rollover stands at 9.91% and Nifty Put Call Ratio, a sentiment indicator used by traders to gauge the market sentiment and mood, is currently at 1.49 compared to 1.29 of last week, indicating positive bias with caution at higher levels.
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BSE Sensex clinched 61,000, rising 300 points, while NSE Nifty 50 crossed 18200 for the first time in pre-open on Thursday
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were hiked by oil marketing companies on Thursday after a two-day pause. Petrol in the national capital today costs Rs 104.79 per litre, up 35 paise from yesterday. Diesel in the capital city is retailing at Rs 93.52 per litre. Petrol and diesel rates have increased 10 times so far in October. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
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After consolidating for the last few sessions, the Nifty has broken out to new life highs on Wednesday. Zooming into the 60 min chart, we can see that the index is holding above a rising 20 and 50 period MA indicating that the uptrend looks set to continue.
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HCL Technologies: BSE-listed companies such as HCL Technologies, Indiabulls Real Estate, Benares Hotels, Century Textiles, Cyient, Den Networks, Ganesh Housing Corporation, Inox Wind Energy, Mahindra CIE Automotive, Radhe Developers, Vikas EcoTech, and Vikas Lifecare will release their second quarter earnings on 14 October 2021.
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The Nifty 50 index had opened gap up on Wednesday and escalated throughout the day to touch yet another lifetime high mark of 18197 levels. The index gave a consolidation breakout on daily and weekly time frame and decisively holding well above 18000 zones. Bulls cheered the market at higher zones and buying interest swept across the street. It formed a Bullish candle on the daily frame and closed with gains of around 170 points.
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In the overnight trade on Wall Street, the S&P 500 and Nasdaq ended higher on Wednesday. The Dow Jones Industrial Average fell 0.53 points to 34,377.81, the S&P 500 gained 13.15 points, or 0.30%, to 4,363.8 and the Nasdaq Composite added 105.71 points, or 0.73%, to 14,571.64.
Asian stock markets surged in early trade following the release of China’s inflation data for September. Markets in Hong Kong were closed for a holiday on Thursday. Japan’s Nikkei advanced one per cent while the Topix index edged 0.3 higher. South Korea’s Kospi gained 1.25 per cent.
Nifty futures were ruling 83.50 points or 0.46 per cent up at 18263.50 on Singaporean Exchange.
The country’s second-largest software services exporter, Infosys on Wednesday beat Street estimates on all the fronts in its July-September earnings. The company also raised its full-year revenue guidance to 16.5-17.5% from 14-16% projected earlier on the back of continued strong business pace. The revenue guidance is higher than analysts’ expectations. The company has, however, retained its operating margin guidance at 22-24%.
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IT company Wipro posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021. The company had posted a net profit of Rs 2,484.4 crore in the same period a year ago.
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