Markets HIGHLIGHTS: Sensex, Nifty end higher led by IT, banks but PNB tanks 6%
Markets Highlights: Domestic equity markets closed on a strong note on Tuesday. Frontline indices BSE Sensex closed at 61,121.35, up nearly 374.76 points 0.62 per cent. Meanwhile, Nifty50 was trading at 18,145.40, higher by 133.20 points or 0.74 per cent.
In the 30-share Sensex, 22 stocks were gainers at the closing time while 8 were among losers. In the 50-share Nifty50, 38 stocks advanced while 12 declined.
Here are key highlights of the day's developments:
1) Stock markets closed on a strong footing ahead of the crucial US Federal Reserve's FOMC meeting which begins later today. Nifty managed a comfortable closing above 18000, a level that it recaptured after 48 days on Monday.
2) The biggest gainers on BSE were NTPC, Power Grid and Dr Reddy's Laboratories while top losers were Axis Bank, Maruti Suzuki and Reliance Industries. On Nifty, Divi's Lab, PowerGrid and NTPC were among top gainers. The top losers were Axis Bank, UP and Eicher Motors.
3) Out of 15 Nifty sectoral indices, 11 were on the winning side while, 4 were on the losing side. The biggest gainers were Nifty Pharma (+2.12 per cent), Nifty IT (+1.89 per cent) and Nifty Healthcare Index (+1.93 per cent).
4) Action was seen in the broader markets as well as NIFTY MIDCAP 100 ended at 31,705.50, up by 0.87 per cent while NIFTY SMALLCAP closed at 100 9,707.85, higher by 0.22 per cent.
5) India VIX, a gauge for volatility in the stock markets was up over 2 per cent at 16.13.
6) The rupee closed at 82.70 after moving in a small range of 82.60 to 82.80.
7) In day's trade, 126 stocks hit their 52-week highs while, 42 hit their 52-week lows. In this, 17 stocks hit upper circuit and 2 lower circuit.
Stock Markets END
Markets Highlights: Domestic equity markets closed on a strong note on Tuesday. Frontline indices BSE Sensex closed at 61,121.35, up nearly 374.76 points 0.62 per cent. Meanwhile, Nifty50 was trading at 18,145.40, higher by 133.20 points or 0.74 per cent.
In the 30-share Sensex, 22 stocks were gainers at the closing time while 8 were among losers. In the 50-share Nifty50, 38 stocks advanced while 12 declined.
Here are key highlights of the day's developments:
1) Stock markets closed on a strong footing ahead of the crucial US Federal Reserve's FOMC meeting which begins later today. Nifty managed a comfortable closing above 18000, a level that it recaptured after 48 days on Monday.
2) The biggest gainers on BSE were NTPC, Power Grid and Dr Reddy's Laboratories while top losers were Axis Bank, Maruti Suzuki and Reliance Industries. On Nifty, Divi's Lab, PowerGrid and NTPC were among top gainers. The top losers were Axis Bank, UP and Eicher Motors.
3) Out of 15 Nifty sectoral indices, 11 were on the winning side while, 4 were on the losing side. The biggest gainers were Nifty Pharma (+2.12 per cent), Nifty IT (+1.89 per cent) and Nifty Healthcare Index (+1.93 per cent).
4) Action was seen in the broader markets as well as NIFTY MIDCAP 100 ended at 31,705.50, up by 0.87 per cent while NIFTY SMALLCAP closed at 100 9,707.85, higher by 0.22 per cent.
5) India VIX, a gauge for volatility in the stock markets was up over 2 per cent at 16.13.
6) The rupee closed at 82.70 after moving in a small range of 82.60 to 82.80.
7) In day's trade, 126 stocks hit their 52-week highs while, 42 hit their 52-week lows. In this, 17 stocks hit upper circuit and 2 lower circuit.
Stock Markets END
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This is all from Zee Business Web from the stock markets today. I will come back on Wednesday with complete action. Till then, I, Shivendra Singh is signing-off. Take great care!
Commenting on the day's market action, Shrikant Chouhan, Head of equity Research (Retail), Kotak Securities said that the benchmark indices continued positive momentum fourth day in a row, the nifty ended at 129 points higher while the Sensex was up by 375 points.
Among Sectors, Metal and Pharma indices outperformed whereas intraday profit booking was seen in selective PSU Banks stocks, he said.
"Technically, after promising 18000/60500 breakout last Tuesday, the market opened with a gap up and after strong opening the entire day it was hovering between 18060-18175/60870-61280. In addition, on daily charts the index has formed Doji candlestick formation which indicates indecisiveness between the bulls and bears. However, the medium term texture of the market is still on the positive side. for the trend following traders now, 18050/60870 would be the trend decider level. Above the same, the index could move up to 18250-18300/60400-60500. On the flip side, quick intraday correction is not ruled out, if the index succeeds to trade below 18050/60870. Below the same, the index is likely to touch 17950 -17900/60500-60400. The short term texture of the market is mildly overbought hence level based trading would be the ideal strategy for the day traders," he further said.
(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.)
Rupee gains 10 paise to close at 82.71 against US dollar
The rupee appreciated 10 paise to close at 82.71 (provisional) against the US dollar on Tuesday, as the greenback retreated from its elevated levels.
At the interbank foreign exchange market, the local currency opened at 82.74 and witnessed a high of 82.59 and a low of 82.79.
It finally settled at 82.71 against the American currency, registering a rise of 10 paise over its previous close amid a positive trend in domestic equities.
On Monday, the rupee had settled 34 paise lower at 82.81.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.49 per cent to 110.98.
Global oil benchmark Brent crude futures rose 1.42 per cent to USD 94.13 per barrel.
"Yesterday oil and defence were the main buyers of $ while today the market remained rangebound after yesterday's volatile session. RBI may have sold $ and bot allowed the upside beyond 82.80 while oil was the main buyer as Equities in Asia and particularly India rose. The rupee is expected to be in a range of 82.30 to 83.00," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.
Inputs from PTI
(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.)
Sun Pharma Q2FY23 Results: Stock was trading positively on the NSE at Rs 1,029.40, up by Rs 12.50 or 1.23 per cent. The stock hit its 52-week high of Rs 1049 on the intraday basis after the company reported net profit at Rs 2262.2 crore for the July-September quarter, which was up by 10.5 per cent YoY.
Gross sales at Rs 10,809.2 crore, growth of 13.1 per cent over Q2 last year
India formulation sales at Rs. 3460 crore, up 8.5 per cent over Q2 last year
US formulation sales at USD 41.2 cr, growth of 14.1 per cent over Q2 last year
Delhivery Shares were up 10 per cent intraday and were trading at Rs 378.60 on the NSE. The stock price was up by Rs 34 from the Monday closing price.
Volume Action
Chart Action
Intraday Chart - How Nifty Moved
Intraday Movement in Chart - How Sensex traded
DCX Systems IPO Subscription status:
On the second day, DCX Systems IPO was subscribed 3.6 times on the BSE. Out of the 1,45,11,146 shares available for subscription the share bids received were 5,22,70,920. The Retail Individual Investors subscribed the issue over 14 times.
Volume Buzzers and top index contributors on BSE
Stocks in News: Bhart Airtel and Tata Steel
Tata Steel shares were trading at Rs 100.45 on the NSE and were down by 1.10 per cent from the Monday closing price. The stocks were on the losing side after severa brokerages revised their targets on this stock downwards.
Also Read: Tata Steel shares dip after weak second quarter results; brokerages lower targets
Meanwhile, Airtel missed street's estimates that reflected in the stock prices which opened in the red. Later, the stock picked-up steam. It was trading at Rs 443.10, up by 0.73 per cent around this time.
Sensex, Nifty Top Gainers and Losers
BSE
TRADING CALLS - Anuj Gupta of IIFL Securities
Buy MCX GOLD DECEMBER AT 50100 Stop loss 49780 TARGET 50600
BUY MCX SILVER DECEMBER AT 57100 Stop loss 56500 TARGET 58300
BUY MCX COPPER NOVEMBER AT 642 Stop loss 637 target 652
Sell crude oil nov at 7200 sl 7370 target 7000
Buy usdinr at 82.70 Stop loss 82.50 target 83.20
Buy Nifty at 18000 Stop loss 17850 TARGET 18300
BUY BANK NIFTY AT 41000 Stop loss 40750 TARGET 41900
Zee Business Managing Editor Anil Singhvi gives complete strategy on Nifty Bank Nifty - important support and resistance levels, and buying strategy.
This is what you need to know. Anil Singhvi’s Strategy November 1: Day support zone on Nifty is 17975-18025 & Bank Nifty is 41125-41200
Zee Business brings a list of 20 stocks where investors and traders can form their strategy to maximise gains or avert losses.
Read: Traders Diary: Bharti Airtel, Tata Steel and Wipro among 20 stocks for Buy, Sell or Hold today
