Market at 10 AMIndian benchmark indices were trading at day’s high level with Nifty above 17200.The Sensex was up 1,236.32 points or 2.18% at 58025.13, and the Nifty was up 358.40 points or 2.12% at 17245.70. About 2357 shares have advanced, 513 shares declined, and 87 shares are unchanged.
Nifty Information Technology index rose 2 percent led by the L&T Technology Services, Coforge, TCS
Oktoberfest: 10-year trend shows market likely to see buying this month
Analysts say the Indian equity benchmarks, which have outperformed their global peers, so far, this year will likely continue the trend due to consistent domestic flows and better economic performance
Avenue Supermarts Q2 standalone revenue jumps 36% to Rs 10,384.66 crore YoYThe D-Mart operator, Avenue Supermarts, announced standalone revenue for the quarter ended September 2022 at Rs 10,384.66 crore, up significantly by 36% from Rs 7,649.64 crore in same period last year.The total number of stores as of September 2022 stood at 302.
Marcellus’ Rakshit Ranjan shares his favourite stocks, recent buys
In an interview with CNBC TV-18, Rakshit Ranjan says India’s domestic consumption story is the reason for its resilience in the face of a global storm
NCC receives order worth Rs 393 crore in SeptemberNCC has received a new order for Rs 393 crore in September, which related to its building division. The company received this order from state government agencies.
Buzzing:Dilip Buildcon through its joint venture RBL-DBL has received letter of acceptance (LOA) for its Surat Metro Rail Project in Gujarat. The said order is worth Rs 1,061 crore.
BSE Metal index added 2 percent led by the Hindalco Industries, Vedanta, JSW Steel
Nifty Bank index rose 2 percent supported by the IDFC First Bank, IndusInd Bank, Bank of Baroda, Bandhan Bank
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The spillovers from the hawkish tone of the Fed will affect economies in matters of currency depreciation, capital outflows, reserve losses and financial instability; however, India, compared to other…
Angel One Business Update
Angel One’s September client base was up 77.4% YoY & up 3.4% MoM at 11.57 million and average client funding book was up 9.3% YoY & up 12.2% MoM at Rs 15.39 million.
Angel One was quoting at Rs 1,461.85, up Rs 97.60, or 7.15 percent.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
In the last eight out of ten years Sensex has given positive returns in October. Also, markets have a record of troughing out in October. This may happen this October too.
The ‘risk-off, risk-on’ texture of the market is in response to fast changing economic and market signals. For the near-term the market sentiments have turned positive with declining trend in dollar and US bond yields.
If this trend continues FIIs will again turn big buyers in India and they will not get stocks cheap. Financials and autos are again set to lead the uptrend since their fundamentals and prospects are strong. Capital goods are likely to join the rally and telecom is on strong wicket.
