Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices failed to continue their upward march on Tuesday, as Sensex and Nifty closed in the red. S&P BSE Sensex ended 109 points lower at 60,029 while NSE Nifty 50 dropped 40 points to end at 17,888. Broader markets outperformed the benchmarks with Bank Nifty inching closer to 40,000, gaining 0.44%. Nifty Midcap 50 and smallcap 50 indices closed nearly 1% higher each. Maruti and NTPC were the top gainers on Sensex, followed by Titan, SBI, and Larsen & Toubro. Tata Steel, Tech Mahindra, and HCL Technologies were the top laagards.
Domestic benchmark indices moved between gains and losses on Tuesday before ending the day in red. Volatility soared higher.
The physical demand in India and China will remain strong as it was weak due to pandemic and economic slump. The rate of interest is running at the lowest levels and major Central banks can not increase as the current situation is required more jobs, more support to the economy. In the upcoming year, we are expecting Gold prices to move towards 52000-58000 levels. Abhishek Chauhan, Head of Commodity & Currency, Swastika Investmart ltd
Sensex was down 122 points ahead of the closing bell, but still above 60,000. Nifty was still below 17,900.
Sensex and Nifty were moving between gains and losses on Tuesday with volatility index moving higher. S&P BSE Sensex was trading flat with negative bias ahead of the closing bell, hovering around 60,000 points. NSE Nifty 50 index was shy of 17,900. Midcap and smallcap indices were outperforming the benchmark indices. Nifty midcap 50 was up 1% while the smallcap 50 was up 0.93%. Bank Nifty was in the green, nearing 40,000 mark. Nifty realty index was top sectoral performer, up more than 3%. In terms of volume, Tata Power was the most active stock on NSE while Tata Motors led the way in terms of value.
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Kotak Securities has revised its Annual Maintenance Charges (AMC) – DP charges for customers who have holdings of less than Rs 10,000 having to pay zero AMC charges going forward. In addition, clients of Kotak Securities can now also make changes in their Demat Account at a zero cost.
Sensex and Nifty are down in the red with an hour left before today’s closing bell. Sensex was hovering around 60,000 while Nifty 50 was shy of 17,900.
White Oak Capital group has today announced completion of the transaction to acquire the mutual fund business of YES BANK. Having received SEBI’s approval for I) Registration of GPL Finance and Investments Limited (GPL Finance) as a sponsor of Mutual Funds under SEBI (Mutual Funds) Regulations, 1996 and II) change in control of YES Asset Management (India) Limited (YAMIL) and YES Trustee Limited (YTL), both wholly owned subsidiaries of YES BANK, from YES BANK Limited to GPL Finance in September 2021; White Oak Group has now successfully integrated YES Asset Management into its fold.
Reliance Industries Ltd’s partly paid shares will delist from stock exchanges on 8 November, with the second and final call of Rs 628.50 per share due later this month. RIL has fixed 10 November as the record day for the final call payment, according to a notification to the exchanges. With this, Mukesh Ambani’s firm will complete the largest rights issue — Rs 53,124 crore — seen by domestic markets till date. RIL partly paid-up shares are trading at Rs 1,879 per share today, while the fully paid-up shares of the oil-to-telecom conglomerate of Mukesh Ambani are trading at Rs 2,521 per share.
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Ramkrishna Forgings (RKFL), a leading forging player in India and among a select few having heavy press stands to benefit from a favorable demand outlook for the Medium & Heavy Commercial Vehicle (M&HCV) industry in domestic and export markets in the near term. The company has phased out its CAPEX over the past few years during which it was impacted by industry slowdown in certain periods. With the end to the CAPEX cycle, the favorable outlook in the medium term, and sufficient capacity in place, we believe RKFL volumes would be able to post volume CAGR of 29% over FY21-23E. RKFL has been able to add new products which have higher value addition. Better mix along with operating leverage is expected to result in ~550 YoY bps EBITDA margin improvement in FY22E. Aided by strong volumes and profitability as well as balance sheet deleveraging, we expect the RKFL’s earnings to jump 10-12x in FY23E-24E from FY21 levels.
Target price – Rs 1,545Upside – 43%
Mumbai-Ahmedabad High-Speed Rail: On Monday, the casting of a full span pre-stressed concrete (PSC) box girder to be used for upcoming India’s first, Ahmedabad-Mumbai Bullet Train corridor was launched. Minister of State for Railways Darshana Jardosh who was present during the inauguration was quoted saying in a PTI report that the first trial run of the high speed train between Surat and Bilimora stations in Gujarat was likely to take place by July 2026. On Monday, the casting of the girder was initiated at a casting yard near Naslipore village, and it was the second PSC box girder being developed for the Bullet Train corridor, said the project’s implementing agency- National High Speed Rail Corporation Limited (NHSRCL).
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State-run power giant NTPC on Tuesday said its 80 MW solar power generation capacity at Jetsar in Rajasthan has stared commercial operations from October 22, 2021. With this, the first part of the 160 MW Jetsar project has been made commercially operational.
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“We are still not completely out of the woods as we can see multiple hurdles in the vicinity of 100 – 150 from hereon. Technically speaking, Nifty has precisely closed at the ‘200-SMA’ on the hourly chart and not far from here, we can see previous important support zone of 18000 – 18100, which is now likely to act as strong resistance. Hence, unless we do not surpass 18100 and stays above it, we may see some profit booking to come again. Hence, momentum traders are advised not to get carried away, till the time important levels are not reclaimed. On the flipside, 17800 followed by 17700 are to be seen as immediate supports,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd.
Gold gave a tepid return (-6.2%) if we compare returns from last Diwali to this Diwali. However, in the long run, gold has given positive returns namely 59% (last 5 years), 61.8% (last 4 years), 52.2% (3 years), and 24.8% from Diwali 2019. The reason behind the underperformance last year was the rush of liquidity in the equity markets. The influx of liquidity has gone into riskier assets like equity and property which helped those assets give high returns leaving precious metals like Gold and Silver struggling to find momentum.
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Rakesh Jhunjhunwala’s favourite stock, Titan Company Ltd, has gained nearly 13% in the last one month on the back of strong quarterly earnings. Titan reported a 222% rise in net profit on-year basis while revenue grew 66%. Analysts at global brokerage firms have reiterated their positive views on the stock expecting as much as 25% upside from current levels. The big bull Rakesh Jhunjhunwala has been a shareholder of Titan for over a decade and his stake in the company is the largest among his portfolio. Rakesh Jhunjhunwala recently increased his shareholding in the company, for the first time since December 2019.
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Sensex was down from highs but still in the green. Nifty was nearing 17,950 mark.
“The 258-point surge in Nifty yesterday, despite massive sustained selling by FIIs for several days, has again proved that FII selling can impact the market only in the short run. The retail and DII enthusiasm is getting fundamental support from positive economic data like record GST collections (Rs 1.3lakh cr in October), PMI at 55.9 in September and better than expected Q2 results. An important event that can influence financial markets globally is the FOMC meet starting today. The Fed is widely expected to announce tapering its bond buying program starting this month. More important than the tapering announcement, which is already discounted by markets, will be the Fed’s response to inflation and the likely cues on rate hikes. If indications of an earlier than expected rate hike comes from the FOMC meet, that can be negative for markets. Otherwise markets may continue to be resilient,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Domestic markets started Tuesday’s trade in the green. Broader markets mirrored the up-move. Bank Nifty was nearing 40,000 mark on opening bell.
Sensex was soaring higher during the pre-open session while Nifty 50 was up above 18,000 mark.
Nifty futures were trading 19 points higher at 18,016 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Tuesday. In the last session, BSE Sensex rallied 831 points or 1.40 per cent to 60,138.46, while NSE’s Nifty 50 index surged 258 points or 1.46 per cent to 17,930. Analysts say that Nifty has smartly bounced up taking even the broader markets higher.
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‘Earnings to watch today include Bharti Airtel, Sun Pharma, Dabur India, Godrej Properties etc. On the technical front, after weakness from previous 2-3 sessions, the green candle formed yesterday indicates a sharp bounce back from lower levels. This may lead to pull back rally upto 18200-18250 levels and if market sustains at these levels we can again witness levels of 18500 in near term,’ said Mohit Nigam, Head – PMS, Hem Securities.
Historically it is seen that the Nifty finds it difficult to move up sharply when it’s cost-of-carry at higher side. So, consolidation is expected till this premium doesn’t start getting lower. The Call writer’s positions are still lower than Put writer’s which means the declines in the index should be arrested and it should be a more stock specific market.
For the coming session, the trading spot band is between 18030 and 17800, which means further upsides are likely once the immediate resistances of 18030 are taken out and weakness could emerge if the supports of 17800 are broken.
~ Raushan Kumar, Derivative Analyst
“Nifty is expected to open flat around yesterday’s close at 17930.Nifty has support at 17600 and 17450 levels and resistance at 17950 and 18050 levels. Traders are suggested to avoid long positions till the time Nifty trades above 18350,” Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were increased by oil marketing companies for the seventh day straight on Tuesday. Petrol in the national capital today costs Rs 110.04 per litre, up by 35 paise since yesterday. Meanwhile, diesel in the capital city was retailing at Rs 98.42 per litre, same as yesterday. 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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“Advance decline ratio was sharply up. FPI selling seems to have waned on Nov 01. Nifty has smartly bounced up taking even the broader markets higher. 18033-18098 is the next band of resistance while 17799 is the support,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
SGX Nifty was up 17 points on Tuesday morning, hinting at a flat to positive start to the day’s trade.
The primary market saw 3 new IPOs open yesterday while Nykaa’s issue closed and Fino Payments Bank’s IPO saw decent interest from investors. So far, the public issue of Sigachi Industries has been subscribed more than 9 times while the IPO of Policybazaar was subscribed 0.54 times.
Gross goods and services tax (GST) collections came in at Rs1,30,127 crore in October (September sales), the second highest mop-up in the history of the comprehensive indirect tax that was launched in July 2017. This, coupled with a sustained trend of rise in the number of e-way bills (inter-state trade) and GST returns for several weeks through October, bears testimony to a rise in consumption and a marked increase in tax compliance, though partly at the cost of the businesses in the informal sector, a section of which has perished.
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