Stock Market HIGHLIGHTS: Sensex ends 250 points up, Nifty closes with 70 point gains; Power Grid top gainer
Stock Market Today HIGHLIGHTS: Indian stock markets witnessed a turnaround in the final trading session with bulls firing on all cylinders to ensure markets end in the green. Nifty scaled a new 52-week high of 18,427.95 on the intraday basis to finally end at 18,403.40, up 74.25 points or 0.41 per cent. Bank Nifty also touched yet another life time high of 42,450.05 before closing to 42,372.70, higher by
295.95 points or 0.70 per cent from the Monday closing. Meanwhile, Sensex, settled at 61,872.99, up 248.84 points or 0.40 per cent.
Here are top highlights of the day:
1) Tuesday's session was marked by ups and downs with the last hour surge where the frontline indices managed a strong closing.
2) In the 50-stock Nifty50, 36 stocks advanced while 14 declined. The top gainers were Power Grid, ONGC, ICICI Bank, Bharti Airtel and Hero MotoCorp. The top losers were HDFC Life, Grasim Industries, Cipla, ITC and UPL.
Also Read: Brokerages bullish on Grasim Industries; Jefferies estimates Rs 230 per share gain
3) Out of the 15 sectoral indices, 12 were gainers with Nifty Oil & Gas (+ 0.73 per cent), Nifty Bank(+ 0.70 per cent) and Nifty Auto (+ 0.64 per cent) taking lead. Meanwhile, the losers were Nifty FMCG (- 0.02 per cent), Nifty Media (-0.20 per cent) and Nifty Realty (-0.11 per cent).
4) India VIX, a measure of valatility in Nifty stood at 14.64, down 1.84 per cent.
5) In the broader market, there was stock specific action, Nifty Mid Cap 100 closing at 31,403.55 almost flat albeith with positive bias. While the Nifty Small Cap 100 settled at 9,777.30, down 0.26 per cent.
6) The rupee appreciated by 17 paise to close at 81.11 (provisional) against the US dollar on Tuesday, on positive domestic macroeconomic data and weak American currency. Forex traders said a firm trend in domestic equities, sustained foreign fund inflows and easing crude oil prices also supported the local unit. At the interbank foreign exchange market, the local unit opened at 81.18 and touched an intra-day high of 81.04 and a low of 81.45 against the greenback. The local unit finally settled at 81.11, registering a rise of 17 paise over its previous close. On Monday, the rupee depreciated by 50 paise to close at 81.28 against the US currency. PTI
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Stock Market Today HIGHLIGHTS: Indian stock markets witnessed a turnaround in the final trading session with bulls firing on all cylinders to ensure markets end in the green. Nifty scaled a new 52-week high of 18,427.95 on the intraday basis to finally end at 18,403.40, up 74.25 points or 0.41 per cent. Bank Nifty also touched yet another life time high of 42,450.05 before closing to 42,372.70, higher by
295.95 points or 0.70 per cent from the Monday closing. Meanwhile, Sensex, settled at 61,872.99, up 248.84 points or 0.40 per cent.
Here are top highlights of the day:
1) Tuesday's session was marked by ups and downs with the last hour surge where the frontline indices managed a strong closing.
2) In the 50-stock Nifty50, 36 stocks advanced while 14 declined. The top gainers were Power Grid, ONGC, ICICI Bank, Bharti Airtel and Hero MotoCorp. The top losers were HDFC Life, Grasim Industries, Cipla, ITC and UPL.
Also Read: Brokerages bullish on Grasim Industries; Jefferies estimates Rs 230 per share gain
3) Out of the 15 sectoral indices, 12 were gainers with Nifty Oil & Gas (+ 0.73 per cent), Nifty Bank(+ 0.70 per cent) and Nifty Auto (+ 0.64 per cent) taking lead. Meanwhile, the losers were Nifty FMCG (- 0.02 per cent), Nifty Media (-0.20 per cent) and Nifty Realty (-0.11 per cent).
4) India VIX, a measure of valatility in Nifty stood at 14.64, down 1.84 per cent.
5) In the broader market, there was stock specific action, Nifty Mid Cap 100 closing at 31,403.55 almost flat albeith with positive bias. While the Nifty Small Cap 100 settled at 9,777.30, down 0.26 per cent.
6) The rupee appreciated by 17 paise to close at 81.11 (provisional) against the US dollar on Tuesday, on positive domestic macroeconomic data and weak American currency. Forex traders said a firm trend in domestic equities, sustained foreign fund inflows and easing crude oil prices also supported the local unit. At the interbank foreign exchange market, the local unit opened at 81.18 and touched an intra-day high of 81.04 and a low of 81.45 against the greenback. The local unit finally settled at 81.11, registering a rise of 17 paise over its previous close. On Monday, the rupee depreciated by 50 paise to close at 81.28 against the US currency. PTI
Follow this space to catch all the updates here!
Latest Updates
That is all from the stock markets today. I, will be back with all the LIVE action on Wednesday, 16 November. Till then, take care and have a great day!
Global Markets at a glance
SGX Nifty Futures were trading at 18,494.5, up 117 points or 0.64 per cent today.
Stock Market Highlights: IPO watch
Keystone Realtors IPO Subscription Status: The issue was subscribed only 0.09 time on the NSE as per the data available at 3:58 pm. The Retail Individual Investors subscribed the issue 0.11 times.
Source: NSE
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Stock Market Today
Trade deficit came at USD 26.73 billion which took the sheen off the rupee appreciation taking it lower to 81.18, Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors LLP said. "Indian Stock markets were however up as Asian stock markets all ended at highs. The Dow futures were also up by 126 points. Rupee is expected to remain in a range of 80.50 to 81.50 for the rest of the week," he said.
As dollar index fell to 106.20 from 107 levels this morning rupee gained to 81.01 from a low of 81.44. There was custodials buying and sale of USD ftom a corporate.
(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.)
Fusion Micro Finance share tanked nearly 12 per cent on its debut. The stock was listed at a discount of 2.30 per cent on the NSE. The issue price was Rs 368 while the listing price was Rs 359.50.
Bharti Airtel is trading near its life highs of Rs 460 on the NSE. The stock was trading at Rs 448.75, up 4.40 or 0.99 per cent. The stock was among the top index contributors today in the otherwise lacklustre market.
Commodity Live:
Gold and Silver futures on MCX extend gains with the December Gold futures at Rs 52901, up Rs 183 or 0.35 from Monday closing price. Meanwhile, December Silver futures were trading at 62715 per kg, up Rs 245 or 0.35 per cent.
Commodity and currency expert Anuj Guta of IIFL Securities recommends a Buy on December Gold futures at Rs 52700 with a stop loss of Rs 52450 and price target of Rs 53300. As for Silver futures, buying is recommended at Rs 62300 with a stop loss of Rs 61750 and target at Rs 63200.
(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 in News: Tata Motors shares were tradung at Rs 436.15, up 0.56 per cent on the NSE while Cummins shares were trading higher 1.3 per cent on the NSE from the Monday closing price at Rs 1,364.90.
Cummins Inc and Tata Motors have joined hands to offer solutions in the hydrogen-powered commercial vehicle space, a company statement said on Monday.
Both companies will collaborate on the design and development of low and zero-emission propulsion technology solutions for commercial vehicles in India, including hydrogen-powered internal combustion engines, fuel cells, and battery electric vehicle systems under the agreement, Cummins said.
Stocks in News: Mindtree shares fell 1.6 per cent and were trading at Rs 3,706.20 on the NSE while Larsen & Toubro Infotech shares were trading at Rs 5,122.55, down by Rs 33.15 or 0.64 per cent.
The L&T Group has announced operationalisation of the merger of Mindtree with LTI (Larsen & Toubro Infotech). Post merger, the new entity -- LTI Mindtree will become the 5th largest software company in the country terms of market capitalisation, with a revenue of USD 5.25 billion this year on Monday, according to a PTI report.
The new entity -- LTI Mindtree will begin trading on exchanges from November 24.
Hindware shares fell on Tuesday. They were trading at Rs 332.40 on the NSE and were down by Rs 8 or 2.35 per cent. The company announced its September quarter results on Monday.
The company clocked revenue growth of 16 per cent in Q2FY23 expanding the H1FY23 revenue 45 per cent Y-o-Y. EBITDA Margin expanded by 159bps in H1FY23 despite increased input prices, the company said in its filing to the exchanges.
"We will continue to leverage the strength of its business capabilities, brand, and distribution to create value for all our stakeholders,” Sandip Somany, Chairman, Hindware Home Innovation Limited said.
Stock Market Today:
HDFC to raise up to Rs 5,500 crore via bonds on Thursday
Mortgage lender HDFC will raise up to Rs 5,500 crore by issuing bonds on private placement basis to shore up its resources.
The secured redeemable non-convertible debentures (NCDs) issue will have a base size of Rs 4,000 crore with an option to retain oversubscription of up to Rs 1,500 crore.
"The object of the issue is to augment the long-term resources of the Corporation," HDFC Ltd said in a regulatory filing on Tuesday.
The largest mortgage lender of the country said it will use the proceeds from the issue for financing or refinancing the housing finance business requirements.
The bonds issue opens on November 17, 2022 and closes the same day.
Housing Development Finance Corporation (HDFC), set for a merger with its subsidiary HDFC Bank, will offer a coupon at 7.70 per cent per annum on the bonds.
The tenor of the bonds is of three years.
HDFC stock was trading at Rs 2,667.10 on the BSE, up 0.21 per cent from the previous close. PTI
Block Deals Today
- RVNL 10.4 lakh shares traded in multiple transactions
- Bharti Airtel - 19.63 lakh shares traded in multiple transactions
- NHPC - 20.2 lakh shares traded in multiple transactions
- ITC - 11.5 lakh shares traded in multiple transactions
- Coal India - 11.7 lakh shares traded in multiple transactions