The key benchmark indices logged smart gains on Monday led by consistent buying in select financial and IT shares. The BSE benchmark index, the Sensex, after gyrating between zones rallied to a high of 60,609 and finally ended 478 points higher at 60,546.
The NSE Nifty moved in a range of 252 points, the index from a low of 17,836 surged to a high of 18,088 before settling with a gain of 152 points at 18,069.
Titan and Bajaj Finserv rallied over 4 per cent each and were the major gainers among the Sensex 30 stocks. UltraTech Cement surged 5 per cent to a record high at Rs 8,267 on the back of strong demand outlook. The stock finally ended 4 per cent higher at Rs 8,208. READ MORETech Mahindra, Kotak Bank, HDFC, NTPC, PowerGrid Corporation and Bajaj Finance were the other major gainers, up 2-4 per cent each. Infosys, Bharti Airtel, ITC and Tata Steel also finished with notable gains. On the other hand, IndusInd Bank tumbled 10.5 per cent to Rs 1,065 on reports of loan evergreening issue.
Market Dashboard: Snapshot of key movers and shakers in trade today
The broader markets also logged decent gains. The BSE Midcap index jumped 1.3 per cent to 26,333, and the Smallcap index gained 0.9 per cent at 29,148. The breadth too improved as the day progressed, at the end of the day 1,818 shares advanced, while 1,539 declined on the BSE.
Shares of gold loan financiers Manappuram Finance and Muthoot Finance hit their respective record highs after the latter reported a strong growth in gold loan for the quarter ended September 2021. READ MOREClick here for more market newsAmong sectors, the BSE Consumer Durables and the Oil & Gas indices rallied nearly 2.5 per cent each. The Power index jumped 1.8 per cent, while the Capital Goods and Oil & Gas indices advanced 1.5 per cent each. The BSE Healthcare index was the sole loser, down 0.5 per cent.
Markets at 02:30 PMLIVE market updates: The key benchmark indices firmed up in late noon deals on the back of consistent buying support. The BSE Sensex rallied to a high of 60,597, and was 463 points at 60,531, and the NSE Nifty had gained 151 points at 18,068.
The broader markets too have extended gains, the BSE Midcap index was up a per cent, and the Smallcap index added 0.7 per cent. The breadth too improved with 1,794 advancing shares versus 1,494 declining stocks on the BSE.
Among sectors, the BSE Consumer Durables index surged 2.2 per cent. The Capital Goods, Oil & Gas and Power indices were up around 1.5 per cent each. The Healthcare index, however, was down 0.7 per cent.
Meanwhile, European markets have started the day on a mildly positive note. The FTSE 100 and CAC 40 were up 0.1 per cent each, while DAX too edged a wee bit higher.
Markets at Lunch (01:30 PM)LIVE market updates: The key benchmark indices were holding steady gains in mid-noon deals on the back of buying support in select index heavyweights like HDFC and Infosys.
The BSE Sensex was up 341 points at 60,409, and the NSE Nifty had gained 108 points at 18,025.
UltraTech Cement and Titan were the major gainers among the Sensex 30 stocks, up 4.5 per cent each. Bajaj Finserv, Tech Mahindra were HDFC up around 3 per cent each.
On the other hand, IndusInd Bank has shed 9.5 per cent. SBI and Mahindra & Mahindra had declined around 1.5 per cent each.
In the broader markets, Allied Digital Services, RS Software, Mangalam Organics, Max Ventures, Salzer Electronics and 3i Infotech were the major gainers, up over 10 per cent each. On the flip side, Divis Laboratories, MBL Infrastructure, Gokul Refoils and Sobha were the major losers.
Markets at 12 NOONLIVE market updates: The key benchmark indices continued to consolidate in a narrow range in trade so far on Monday. The BSE Sensex was up 158 points at 60,226 and the NSE Nifty had added 54 points to 17,971.
The broader markets outperformed the benchmark indices. The BSE Midcap index was up 0.6 per cent and the Smallcap index was up 0.4 per cent. The breadth, however, was neutral with 1,590 advancing stocks versus 1,568 declining shares on the BSE.
Given the high-demand in festive season, BSE Consumer Durables index was the major gainer in trade on Monday. The index rallied 1.5 per cent to 45,072. Whirlpool zoomed 6.5 per cent to Rs 2,251. Titan was the other prominent gainer. On the flip side, Bankex and Healthcare indices were the prominent losers.
Meanwhile, markets in Asia were mixed today. Nikkei and Hang Seng slipped 0.4 per cent and 0.5 per cent, respectively. The S&P/ASX200 and Kospi were down 0.1 per cent each. On the other hand, Shanghai Composite added 0.2 per cent. Straits Times and Taiwan Weighted indices were up 0.5 per cent each.
Markets at 11 AMLIVE market updates: Decent buying in select heavyweights like HDFC, Bharti Airtel, UnltraTech Cement, and Kotak Bank helped the benchmark indices partially trim losses.
At 11:05 AM, the BSE Sensex was at 59,972 levels, down 95 points, while the NSE Nifty50 was at 17,894, down 22 points.
Individually, shares of UltraTech Cement hit a record high of Rs 8,219.95, up 4 per cent on the BSE in Monday’s intra-day trade on strong demand outlook in an otherwise subdued market. READ MOREIn the primary market, India’s biggest IPO by One97 Communications, the parent company of Paytm, was subscribed 7 per cent.
Markets at 10 AMLIVE market updates: Frontline indices extended their decline and were trading near the day’s low at around 10:00 AM.
Amid hefty selling in financial stocks, especially IndusInd Bank, HDFC Bank, and Axis Bank, along with heavyweights like RIL and HUL, the benchmark BSE Sensex was down 195 points at 59,873 while the Nifty50 index was testing 17,850.
The volatility index, India VIX, was up over 6 per cent at 16.7 levels.
The broader markets, however, reversed their losses and were trading in the green with the BSE MidCap and SmallCap indices up 0.4 per cent and 0.09 per cent, respectively.
Given this, the overall market breadth was balanced with 1,490 stocks advancing on the BSE as against 1,407 stocks that slipped.
In the currency market, rupee opened stronger at 74.26 per US dollar relative to previous close of 74.46/$.
LIVE market updates: Equity markets were volatile on the first trading day of Samvat 2078. After hitting an opening high of 60,434, the BSE Sensex gave up gains and was down 92 points at 59,975 levels in early deals. Its NSE counterpart Nifty50, on the other hand, was at 17,878 levels, down 38 points.
IndusInd Bank was the biggest loser, down 10 per cent, amid reports of lapses in governance and accounting norms related to allegedly ‘evergreen’ loans running into thousands of crores since the outbreak of Covid-19. On its part, IndusInd Bank on Saturday admitted that its micro-finance arm gave nearly 84,000 loans “without customer consent” due to a “technical glitch” in May 21, but denied whistleblowers’ allegations of “ever greening”.
Sun Pharma, Asian Paints, Tata Steel, M&M, HCL Tech, and HDFC Bank were some of the other top drags on the 30-pack index. On the upside, L&T, Kotak Bank, Maruti Suzuki, and Airtel were trading with up to 1 per cent gains.
In the broader market, the BSE MidCap and SmallCap indices slipped up to 0.44 per cent.
Sectorally, the Nifty Pharma index was down 2 per cent on the NSE, followed by the Nifty Private Bank index, down 1 per cent.
Individually, Pfizer was trading over 6 per cent higher after the company’s US parent, Pfizer Inc., published a positive result from its Covid-19 pill, which it said reduced hospitalizations and deaths in high-risk patients by 89 per cent.
On the downside, Divis Labs fell 8 per cent as the company’s Ebitda and margin shrank in Q2. Analysts at Jefferies have also downgraded the stock to “hold” citing rich valuations and limited upside.
On the flipside, only the Nifty Media and Auto indices were trading higher, rising up to 0.8 per cent.
Pre-open sessionLIVE market updates: Domestic equities look set to open on a firm note on Monday amid mixed global cues. The BSE Sensex was up 318 points, or 0.7 per cent, at 60,386 levels in the pre-open session. The NSE Nifty, meanwhile, reclaimed the 18,000-mark at 18,040, up 123 points.
(Updated at 08:10 AM)LIVE market updates: The markets are set to resume normal trading after a four-day break today on Monday amid positive domestic and global cues. At 8:15 AM, SGX Nifty was at 17,993, up 53 points.
Primary market action
Digital payments company Paytm will open its initial public offer (IPO) for subscription on Monday (November 8). The three-day IPO will close on November 10. At $2.46 billion, Paytm IPO is said to be the biggest in India.
Earnings to Watch
3i Infotech Andhra Paper, Aurobindo Pharma, Automotive Axles, Balrampur Chini, Britannia, EID Parry, Fortis Hospitals, Goldiam International, GVK Power, PTC India, RS Software, Shankara Building, Sobha, Tamilnadu Petroproducts and Wockhardt Pharma few of the major companies scheduled to report earnings today.
On Friday, the S&P 500 index rose 0.4 per cent, and the Nasdaq added 0.8 per cent. Dow Jones, however, was down 0.1 per cent.
This morning in Asia, the Nikkei was down 0.2 per cent, and the Hang Seng slipped 0.7 per cent. The Kospi had dropped 1.2 per cent while Shanghai and S&P/ASX 200 were also wee bit in red. The Straits Times, however, was up 0.8 per cent.