Stock Markets HIGHLIGHTS: Sensex, Nifty end negatively amid profit booking; Titan, Tata Motors among top losers
Stock Markets Today HIGHLIGHTS: There is stock specific action in Paytm on news of a block deal. The shares tanked nearly 10% intraday on opening. The stock was trading at Rs 549.05, and was down by Rs 52.40 or 8.71%. Tata Motors shares were also the biggest losers on Nifty50 on news of resignation of the CEO of Jaguar Land Rover
Stock Markets Today HIGHLIGHTS: Domestic stock markets ended in the red on Thursday amid profit booking. Nifty50 was trading at 18,343.90, down 65 points or 0.36 per cent while the 30-stock BSE Sensex was trading at 61,750.60, down by 230.12 points or 0.37 per cent. The top gainers were Tata Consumer Products, Adani Enterprises, Larsen & Toubro, Power Grid HDFC Life while the top losers were Apollo Hospitals, Tata Motors, Eicher Motors, Mahindra & Mahindra and Titan. Bank Nifty closed trading at 42,458.05, down by 77.25 points or 0.18 per cent.
Here are top highlights of the day's action:
1) Markets ended their two-day gaining streak to settle negative on Thursday, a day of expiry. The weakness was primarily borrowed from global factors.
2) Profit booking was seen in the last hour of trade.
3) The domestic Out of the 15 sectoral indices 13 were trading in the red against 2 gainers. Nifty PSU Bank was up 0.79 per cent while Nifty Realty ended nearly flat albeit with a positive bias. Nifty Auto (-1.36 per cent), Nifty Consumer Durables (-1.36 per cent) and Nifty IT (-0.90 per cent) were the biggest sectoral losers.
4) India VIX, a measure of index volatility was at 14.88, down 1.47 per cent.
5) Correction was seen in broader markets as well with Nifty Mid Cap 100 settling at 31,072, down 0.40 per cent while Nifty Small Cap 100 closed at 9,663.50, down 0.34 per cent.
6) Paytm stocks tanked nearly 11 per cent on NSE reacting to the block deal. The shares ended at Rs 536.60, down Rs 64.85 from the Wednesday closing price.
7) Rupee falls 37 paise to close at 81.63 (provisional) against US dollar. USDINR November futures were trading at 81.6675, up 0.3350 or 0.41 per cent on the BSE.
8) Profit booking was seen in MCX Gold and Silver futures. December Gold futures were trading at Rs 52930 per 10 gram, down by Rs 132 while December Silver futures were trading at Rs 61295 per kg, down nearly Rs 700.
9) Dow 30 Futures were trading at 33,655.10, 101.30 points or 0.30 per cent higher. SGX Nifty was trading at 18,375.0, down 105 points or 0.57 per cent.
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This is all from markets today. I will be back with all the LIVE action on Friday. Till then, be safe and have a great day!
Stock Markets Today: How Oil Stocks traded today?
Centre’s decision to hike windfall tax on domestic crude oil did not materially impact oil stocks on Thursday and the lacklustre show by the sector was on account of the weakness in crude oil, technical analyst Nilesh Jain opines.
The tax on crude oil produced by state-owned ONGC was hiked to Rs 10,200 per tonne from Rs 9,500 per tonne, with effect from Thursday, according to a government notification. The stock was trading at Rs 143.35, up 0.31 per cent.
Stock Markets Today: Zee Business Exclusive on SEBI
Exclusive:
Commodity Live: How commodities are tradaing on international markets
Source:Comex Stock Markets Today: Which stocks are brokerages betting on?
Following the overall weak sentiment in the domestic market, the banking index moved in tandem with the frontline index and in the red. In the 12-stock index, five were trading positively with Federal Bank, ICICI Bank, Bank of Baroda, Punjab National Bank and IndusInd Bank being the gainers.
Banking stocks are in the radar of many top brokerages with large caps including ICICI Bank, IndusInd Bank among the top favourites.
Read More: Banks in focus: Why brokerages bullish on ICICI Bank, Kotak Mahindra, BoB, IndusInd?
Stock Market Today: F&O
Stock Markets Today:
Source: NSE Pritam Patnaik, Head - Commodities, HNI and NRI Acquisitions, Axis Securities recommends a buy on dip’s strategy on gold estimating a rally in the yellow metal futures in the medium to long run. Patnaik says that plateauing inflation, weaker USD and stalling bond yields could act as the catalyst of the next bull run in gold prices. .
(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.)
Stocks to Buy
Bikaji Foods shares were trading at Rs 330.15 on the NSE and were up by Rs 12.70 or 4 per cent from the last closing price. The stock has been trading with strong momentum after getting listed at a premium on Wednesday. Meanwhile, Global Health shares were trading with over 5 per cent gains around this time at Rs 436.20 per share. The stock had a stellar debut and closed with 24 per cent gains on Wednesday.
Stock Markets Today: Nifty Sectoral Indices
Out of the 15 sectoral indices four were trading with marginal gains against 11 losers. Nifty FMCG (+0.11 per cent) and Nifty PSU Bank (+0.30 per cent) were gainers. The top laggards were Nifty Metal (-1.28 per cent), Nifty IT (0.60 per cent) and Nifty Auto (-0.60 per cent).
In the broader markets Nifty Mid Cap 100 and Nifty Small Cap 100 were trading with a negative bias. While the former was trading at 31,096.90 (-0.32 per cent) , down per cent, the latter was trading at 9,694.05 down (-0.03) per cent)per cent.
Sensex Top Gainers and Losers - LIVE UPDATES
Nifty on Charts: Intraday Movement
Source: NSE Commodity Live: Top Intraday actions
Source: MCX Markets Today: Nifty Gainers and Losers
Global Markets: At a glance
Singapore-based SGX Nifty was trading at 18,428, down by 52 points or 0.28 per cent.
Trading Calls Today:
Morgan Stanley on Tata Motors (CMP: 432)
Maintain Overweight, Target 502
JLR CEO resigns
Adrian Mardell, who has been part of JLR for 32 years will take over as interim CFO
Continue to monitor JLR’s FCF Improvements
FCF improvements is key in deleveraging story
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Morgan Stanley on ICICI Bank (CMP: 914)
Maintain Overweight, Target 1250
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Morgan Stanley on Kotak Mahindra Bank (CMP: 1966)
Maintain Equalweight, Target 2215
Margin Improved sharply over past year & should continue to improve
Loan Growth remains strong with no significant moderation
Operating costs remain elevated
Asset Quality benign & best it has been in many years
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BoFA on Bank of Baroda (CMP: 163)
Maintain Buy, Target 190
1% RoA is now a conservative base case with upside risks from all earnings drivers;
sustainable credit growth potential of 13-15%
At 0.75x P/B, risk-reward very attractive
Meaningful room for re-rating as investor perception improves
Morgan Stanley on Bank of Baroda (CMP: 163)
Maintain Overweight, Target 195
(Asia Pacific Summit Feedback)
Mgmt sees upside risk to its 12% YoY loan Growth guidance for FY23
Margin Expansion remains on Track
Operating costs will see some increase over next year
Asset quality outlook remains strong
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Goldman Sachs on IndusInd Bank (CMP: 1144)
Maintain Buy, Target cut to 1377 from 1389
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Morgan Stanley on TCS (CMP:3355)
Maintain Equalweight, Target 3050
Near term demand trends holding up with pockets of weakness
Maintaining Stable Pricing outlook &25% Exit Margin by Q4
Co believes medium term outlook is good
Co says growth over next 5 years should be better than last 5 years
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Morgan Stanley on Tata Elxsi (CMP: 6946)
Maintain Underweight, Target 5800
Mixed demand outlook across vertical- Autos strong, Media weak
Margin Decline ked by investments & Normalisation of costs while pricing is stable
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Citi on Hindustan Zinc (CMP: 319)
Maintain Neutral, Target raised to 285 from 260
Announced 2nd interim dividend of Rs15.5/sh,
cash outflow of Rs88.7bn ($1.1bn)
Total dividend for FY23 thus far- Rs36.5/sh, implying a payout of 147% on est.
cash outflow of $1.9bn Trades at 7x 1-yr fwd EV/EBITDA
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Morgan Stanley on Hindustan Aeronautics (CMP: 2681)
Maintain Overweight, Target 3024
Improving visibility & margin guidance revised upwards
F23rev growth guidance maintained at 7-8%,
EBITDA margin guidance revised to 26-27% (vs 24-25% earlier)
H2F23 margin would be lower than H1F23 due to expected increase in share of manuf rev
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BoFA on ABB (CMP: 3036)
Maintain Neutral, Target 3231
Robust orders/strong backlog provide near-term visibility
Margins continue to expand on short cycle and better mix
Outlook strong
Valuations at 60 est. 2yr fwd PE (at +2SD level) prices in +ves
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Jefferies on Home First Finance Co (CMP: 717)
Initiate Buy, Target 900
Among the fastest growing affordable HFCs
Expect EPS CAGR of 24% & ROE increase to 15% (12% FY22) over FY22-25e, driving re-rating
Expect to deliver 30% loan CAGR over FY22-25e by expanding distribution by 60%
& leveraging superior productivity
This should drive 28% NII CAGR over FY22-25e, despite some NIM pressure
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Morgan Stanley on Oberoi Realty (CMP: 894)
Maintain Equal weight, Target 885
Interest rate impact on residential demand is so far limited
Thane launches ae likely in next qtr
Can potentially generate Rs 1500 cr revenue per annum from the project over next 10 years
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CLSA on HDFC Life Insurance Co (CMP: 528)
Maintain Buy, Target 690
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CLSA on ICICI Lombard (CMP: 1131)
Maintain Buy, Target 1550
Morgan Stanley on ICICI Lombard (CMP: 1131)
Maintain Overweight, Target 1400
Combined ratio is elevated on Investments in Distribution & Competitve Intensity
Pricing Should Start Improving in next 3-4 qtrs
Co will continue to invest in retail health
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Macquarie On Sun Pharama (CMP: 1019)
Maintain Outperform, Target 1140
For Oct’22, Ilumya unit sales in US jumped 10% MoM & 46% YoY,according to Symphony Health data
Cequa market share continues to inch up in dry eye market, 4.3% vs. 3.8% in Mar’22
Winlevi TRx remained flat MoM
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Macquarie on Uno Minda (CMP: 544)
Neutral, TP Rs 531
Current auto component portfolio undergoing premiumization in line with
industry demand; further upside in EVs
Getting future ready with EV powertrain related component capability
Raise FY23E/24E earnings by 15%/14%
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Jefferies on Cement
Worst seems behind us
Past 4qtrs were challenging for the cement
Majority of managements indicated that costs for Q2FY@3 are likely to be flat/declining
Cement pricing trend Q3 so far is encouraging/positive
Volume growth for past 2 qtrs has turned robust and we expect the trend to continue
(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.)
Stock Market Trading Strategy by Anuj Gupta
Dow @ 33648
Support 33300 / 33000
Resistance 33800 / 34100
SidewaysSGX Nifty @ 18418
Suppprt 18280 / 18100
Resistance 18560 / 18700
Sideways to UpBank Nifty @ 42579
Support 42250 / 41900
Resistance 42900 / 43300
UpUSDINR @ 81.34
Support 81.10 / 80.90
Resistance 81.50 / 81.70
Sideways(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.)
Trading picks by Anuj Gupta of IIFL Securities
BUY MCX GOLD December AT 52800 STOP LOSS 52500 TARGET 53400
BUY MCX SILVER December AT 61500 STOP LOSS 60800 TARGET 63000
Buy MCX CRUDEOIL December AT 6850 STOP LOSS 6700 TARGET 7100
Buy MCX COPPER AT 685 STOP LOSS 678 TARGET 695
Sell Usdinr at 81.70 Stop Loss 82.00 target 81.00
Buy NIFTY AT 18250 STOP LOSS 18100 TARGET 18600
BUY BANKNIFTY AT 42250 STOP LOSS 41900 TARGET 43000
(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.)
Markets Today: Stocks in Ban
New In Ban: IB Housing, Balrampur Chini
Out Of Ban: PNB
Already In Ban: Delta Corp, BHEL, Sun TV, GNFC
Stock Market Recap:
Stock Market Today HIGHLIGHTS: Bulls took control of Dalal Street with frontline indices ending green on a day which was marked by high volatility. The market traded in a range throughout the day dabbling between highs and lows. BSE Sensex settled at 61,980.72, down 107.82 points or 0.17 per cent. Meanwhile, Nifty50 was trading at 18,409.65, down just 6 points at the closing time.
Anil Singhvi Strategy: Nifty, Bank Nifty Support and resstance levels
Anil Singhvi Strategy: Nifty, Bank Nifty Support and resstance levels
Stock Markets Today: Anil Singhvi Strategy Nifty, Bank Nifty
Anil Singhvi Strategy: Nifty, Bank Nifty Support and resstance levels
Stock Markets Today: Good Morning, this is Shivendra Kumar and I am back with all the LIVE action from markets today. Follow this space to remain updated.
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