Market HIGHLIGHTS: Bulls make merry on HDFC twins, Infosys rally; 1100 point gains for Sensex, Nifty ends 320 points up
Market LIVE: A favourable infation numbers in the US transfromed the sentiments on the Wall Street triggering a rally not seen in 2-5 years. While Dow ended Thursday up neraly 4% at 33,715.40, gaining 1,201.43 points, S&P 500 gained over 5% to close at 3,956.37. Meanwhile, Nasdaq Composite closed with 760-point or 7.35% gains at 11,114.20
Market HIGHLIGHTS: Friday belonged to HDFC twins as both stocks led the charge in what was a very eventful day for the domestic equity markets. HDFC Bank and HDFC Ltd gained nearly 6 per cent intraday and were the top two stocks in terms of contribution to the frontline indices. The stocks also helped Bank Nifty to hit its life time highs of 42,345.50. BSE Sensex today ended at 61,795.04, up 1181 points or 1.95 per cent while the broader market Nifty50 settled at 18,349.70, up 321.50 points or 1.78 per cent.
Highlights:
1) Both Sensex and Nifty opened with significant gains over the Thursday closing levels and only widened their gains through the session. The markets took cues from their US peers which witnessed a rally not seen in the last 2.5 years. The biggest trigger was softening in CPI inflation in the world's largest economy.
2) In the 50-stock Nifty50, 37 stocks gained and 12 declined while 1 stock was unchanged.
3) Apart from the HDFC twins, Infosys, Tech Mahindra and HCL Tech were the other top gainers. The top losers were Eicher Motors, Hero MotoCorp, SBI, Britannia Industries and Mahindra & Mahindra.
4) Out of the 15 Nifty sectoral indices only three ended on the losing side - Nifty Auto (-0.30 per cent), Nifty FMCG (-0.15 per cent) and Nifty PSU Bank (-0.67 per cent). Banks and financial services were the top gainers. Nifty Metal (+2.03 per cent), Nifty Realty (+1.67 per cent).
5) India VIX, a measure of volatility on the Nifty was down 7 per cent to end at 14.41.
6) Action was seen in broader markets too with Nifty500 gaining 1.35 per cent. There was stock specific action in mid cap and small cap stocks. NIFTY MIDCAP 100 settled at 31,381.70, up 0.07 per cent while NIFTY SMALLCAP 100 closed at 9,705.35, up 0.38 per cent.
7) Rupee surges 60 paise to close at 80.80 (provisional) against US dollar. INR opened with a gains of 110 paise against the Dollar at 80.71.
Watch this space for all the market action!
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Global Markets at a Glance:
Source: Comex Stock Market Live: Nifty Top Gainers and Losers
Source: NSE Stock Market Today: Higher volumes and better realisations could not ward-off the problems fo Hindalco Industries as the metal major reported a 36 per cent decline in its net profit which stood at Rs 2,205 crore for the September quarter. The performance was impacted by rising input costs and unfavorable macros, the company said in its filing to the exchanges. Consolidated revenue stood at Rs 56,176 crore, up 18 per cent YoY.
Quarterly consolidated EBITDA at Rs 5,743 crore, down 29 per cent YoY. The results were announced during market hours. The stock was trading at Rs 430, up Rs 14.90 or 3.59 per cent.
Ticketing company IRCTC today reported a 65 per cent Year-on-Year jump in its net profit at Rs 262 crore for the July-September quarter versus Rs 158.6 crore in the year ago period. The revenue was up 116.1 per cent at Rs 875 crore during the reporting quarter versus Rs 404.93 crore. The EBITDA was at 336 cr versus Rs 211.49 crore in Q2FY22 and was up 59 per cent.
The margins went up to 38.4 per cent versus 52.2 per cent.
The results were announced during market hours and IRCTC shares were trading at Rs 749.70, up 0.71 per cent around 2:45 pm.
Volume Buzzers in the F&O markets
Stock Market LIVE:
Zomato shares shot up 12 per cent intraday after top brokerages revised their targets upwards on this food delivery platform. JP Morgan has doubled the target to Rs 120, estimating a 90 per cent upside while Jefferies has put the price target at Rs 100. Both the brokerages maintain a ‘Buy’ on this stock with the former remaining ‘Overweight’.
Around 10 am today, Zomato shares were trading at Rs 70.10 on the NSE and were up by Rs 6.15 or 9.62 per cent per share.
Also Read: Zomato pops after brokerages raise targets; can double money from current price
Commodity Market Live:
Commodity and Currency expert Anuj Gupta sees Gold USD 1760 and sees the next target USD1780 to USD 1800. Meanwhile, Silver was trading at USD 21.90 with next target USD 22.50 / 23
Source: Comex Stock Market LIVE: Apollo Hospitals stocks gained nearly 5 per cent intraday.
The company reported a decline of 20 per cent YoY at Rs 213 crore for September quarter Rs 267crore in the year ago period. It was, however better than the street estimate of Rs 203 crore. Margins declined YoY from 13.3 per cent vs 16.5 per cent in Q2FY22. The estimates were at 13 per cent. The revnueswere up at Rs 4251crore against Rs 3717 crore, up 14 per cent.
Stock In NEWS: Zomato
Zomato Stocks shot up 10 per cent on the NSE after the food aggregator posted strong September quarter results. Zomato's consolidated Q2FY23 Revenue stood at Rs 1661 crore which was up 62 per cent YoY from Rs 1024 crore in Q2 of FY23.
The company narrowed its losses for the reporting quarter to Rs 251 crore Vs Rs 430 in the year ago period.
EBITDA Loss 312 crore Vs EBITDA Loss 536 crore DOWN 42%
Stock Market Today:
IT stocks were in focus today after a lacklustre show over many trading session. All major stocsk in this segment were trading strongly with Infosys, Tech Mahindra, Wipro and TCS featuring as top gainers. The strength was on the back of extraordinary show by technology stocks like Meta, Amazon, Alphabet and Apple on Nasdaq Composite.
Stock Market Today
Anil Singhvi Strategy - Nifty, Bank Nifty Support and Resistance Levels
Anil Singhvi Strategy - Nifty, Bank Nifty Resistance and support levels
Stock Market Today: Rupee opened srongly against the USD and ws up 110 paise at 80.71.
MARKET RECAP
Stock Market HIGHLIGHTS: Domestic equity markets ended off day's lows with Nifty50 managing to regain 18,000. The benchmark index ended at 18,028.20, down by 128.80 points or 0.71 per cent. Meanwhile, BSE Sensex settled at 60,613.70, down by 419.85 points or 0.69 per cent. The intraday decline was over 600 points for Sensex and around 190 points for the broader index. While auto was the biggest laggard led by Tata Motors, stocks like HDFC Bank and Kotak Bank led the fightback.
Also Read: Market HIGHLIGHTS: Sensex down 420 points, Nifty manages 18000 closing as Tata Motors drag indices
Stock Market LIVE: Good Morning! This is Shivendra Kumar and I am back with all the live action on Friday. Follow this space to remain updated on the day's action.
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