Share Market HIGHLIGHTS: Nifty slides to 19,080, Sensex ends 238 pts lower; financial stocks decline
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex closed lower on Tuesday, October 31, amid weakness in Asian stocks. High U.S. interest rates and oil prices, the Middle East conflict, and persistent selling by foreign investors dented investor sentiment. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex closed lower on Tuesday, October 31, amid weakness in Asian stocks. High U.S. interest rates and oil prices, the Middle East conflict, and persistent selling by foreign investors dented investor sentiment.
At close, the S&P BSE Sensex was down 237.72 points, or 0.37 per cent, at 63,874.93, and the NSE Nifty was down 61.3 points, or 0.32 per cent, at 19,079.6. The Nifty Mid Cap 100 settled in the green, whereas the Small Cap 100 closed flat. On the sectoral front, Nifty Bank was down 0.45 per cent at 42,845.95.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Share Market HIGHLIGHTS | Sun Pharma, M&M, Eicher Motors emerge as top losers
On the other hand, SBI Life, Titan, HDFC Life and Kotak Bank are among the top gainers in the Nifty basket, trading with gains of around 3-1 per cent.
Source: NSE
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Share Market HIGHLIGHTS | Nifty slides to 19,080, Sensex ends 238 pts lower
Nifty 50
Nifty slides to 19,080, down 0.32 per cent.
Source: NSESensex
Sensex ends 238 points lower at 63,875.
Source: BSE
GAIL Q2 Results: State-run natural gas major beats Street estimates with 70% jump in PAT; margin improves by 340 bps
State-run natural gas processing and distribution company GAIL on Tuesday reports a standalone net profit of Rs 2,404.9 crore for the quarter ended September 30, 2023, marking a sequential jump of 70.3 per cent. The GAIL stock leaps into the green after the earnings announcement. Read more
Nifty Today LIVE | Nifty turns flat; oil & gas, auto stocks decline
Source: NSE
Share Market Today LIVE | TVS Motor, Angle One, other stocks hit 52-week highs
As many as nine stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) ANGELONE 2,590.85 2,600.55 2,579.05 (30 Oct 2023) 2,600.55 (31 Oct 2023) BLUESTARCO 899.7 954 950.40 (19 Oct 2023) 1,554.40 (14 Jun 2023) CANBK 387.2 390.55 387.70 (27 Oct 2023) 844.00 (09 Nov 2010) CREDITACC 1,598.35 1,637.00 1,635.00 (27 Oct 2023) 1,637.00 (31 Oct 2023) KPITTECH 1,227.95 1,253.90 1,237.80 (12 Oct 2023) 1,253.90 (31 Oct 2023) MOTILALOFS 1,049.00 1,068.00 1,037.95 (17 Oct 2023) 2,270.00 (04 Jan 2008) PERSISTENT 6,183.00 6,198.95 6,144.00 (27 Oct 2023) 6,198.95 (31 Oct 2023) SWANENERGY 387.4 399.85 397.25 (30 Oct 2023) 4,928.25 (12 Oct 2006) TVSMOTOR 1,599.10 1,640.00 1,616.90 (16 Oct 2023) 1,640.00 (31 Oct 2023) Share Market Today LIVE | Indices trade flat
Nifty 50
Source: NSESensex
Source: BSE
L&T Q2 Results Preview | PAT likely to rise 39%, margin may shrink by 50 bps
Engineering and construction conglomerate Larsen & Toubro (L&T) is scheduled to announce its financial results for the July-September period (Q2 FY24) on Tuesday, October 31. The company is widely expected to stage a strong quarterly performance driven by a strong order book and easing commodity rates with largely stable margins.
According to Zee Business research, L&T is expected to register a year-on-year rise of 39 per cent in consolidated profit after tax (PAT) to Rs 3,108 crore for the quarter ended September 30, 2023. The analysts estimate the company’s revenue to grow 19.4 per cent on a year-on-year basis to Rs 51,074 crore for the fiscal second quarter. Read more
Share Market Today LIVE | DLF climbs over 3% after strong Q2 numbers; Morgan Stanley maintains 'overweight'
Shares of the Gurugram-based realty major DLF trade 1.52 per cent higher at Rs 562.85 after the company posted strong performance across all parameters during the July-September period.
What do brokerages say?
Global brokerage Morgan Stanley maintains an overweight rating on the stock with a target price of Rs 549, implying a potential downside of around 1 per cent from the last closing price. Read more
Share Market Today LIVE | Tata Motors shares gain after Singur Nano Plant Land dispute win
Tata Motors shares on Tuesday traedes higher on Dalal Street. The upward trend in the stock follows after the Tata Group company stated on Monday that an arbitral tribunal has asked the West Bengal Industrial Development Corporation to pay the company Rs 766 crore in compensation in connection with losses incurred due to a land row on its manufacturing site in Singur back in 2008. The counter trades 0.27 per cent higher at Rs 630.2 on NSE. Read more
Share Market Today LIVE | Pidilite Industries jumps 5% as Goldman Sachs upgrades stock to 'Buy' from 'Sell'
Shares of Pidilite Industries jumps as much as 4.99 per cent to hit the day's high of Rs 2,429.50 apiece on Tuesday, October 31, after global brokerage firm Goldman Sachs upgraded the stock to "buy" from "sell." It has also revised the target price to Rs 2,725 from Rs 2,325 earlier.
The brokerage believes that the stock's earnings downgrade cycle is a thing of the past and that the company is poised for strong growth on the back of new products and paint segments. The company is continuously expanding its distribution network, Goldman Sachs notes. Read moreShare Market Today LIVE | Nifty Bank trades over 100 pts lower
Source: NSE
Share Market Today LIVE | Marico fails to woo investors with strong operational performance in Q2; what should investors do?
Marico shares are under pressure on Tuesday after brokerage JPMorgan reduced its price target by five per cent for the FMCG stock following the Mumbai-based company's operationally strong quarterly performance though its domestic sales fell 3.4 per cent. The Marico stock weakens by as much as Rs 7.1, or 1.3 per cent, to Rs 525 apiece on BSE.
EDITOR'S TAKE | A strong operational performance
Zee Business Managing Editor Anil Singhvi pointed out that Marico's gross margin hit a six-year high and the management's commentary for the October-March period was strong. Read more
Currency Update | Rupee rises 1 paisa to 83.25 against US dollar in early trade
Share Market Today LIVE | Sensex gains nearly 200 pts, Nifty near 19,200
Nifty 50
Nifty trades near 19,200, up 0.3 per cent in opening deals.
Source: NSESensex
Sensex gains nearly 200 points in opening deals.
Source: BSEStocks to Watch | DLF, L&T, Balkrishna Industries among top stocks to watch on Tuesday
Zee Business will take you to the list of stocks that will be on the radar on Tuesday:
Corporate results today (October 31): Adani Total Gas, Aether Industries, Ajanta Pharma, Amara Raja Batteries, Bharti Airtel, Care Ratings, CE Info Systems, DCB Bank, Dhampur Sugar, GAIL, Go Fashion, IOC, JSW Holdings, Birlasoft, and L&T, among others, will release their quarterly results today.
Titagarh Rail Systems: Shares of the company will be on the radar after the company announced the launch of a second diving support craft for the Indian Navy.
Sterling Tools: Shares of the auto components firm will be watched out after its net profit during the September quarter declined 24.7 per cent year-on-year (YoY).
DLF: Shares of the realty major will gain focus after the company’s Q2 results were posted after market hours on Monday. During the quarter under review, the company’s net profit climbed 30.6 per cent YoY to Rs 622.8 crore.
APL Apollo Tubes: Shares of the iron and steel products company will be tracked after its September quarter results. The company posted an over 35 per cent YoY increase in profit at Rs 203 crore in the Q2FY24 period. Read more
Dividend Stocks | Balkrishna Industries, Sasken Tech, Elecon Engineering to trade ex-date today
A total of five stocks—Balkrishna Industries, Sasken Technologies, Styrenix Performance Materials, TIPS Industriesa and Elecon Engineering—will trade ex-dividend on Tuesday, October 31, according to the NSE website.
Sasken Technologies dividend
Sasken Technologies has announced a dividend of Rs 12 per equity share with a face value of Rs 10. Ocober 31 has been fixed as the record date.
Styrenix Performance Materials dividend
Styrenix Performance Materials has announced a dividend of Rs 22 per equity share with a face value of Rs 10. Ocober 31 has been fixed as the record date. Read more
Share Market Today LIVE | GIFT Nifty futures indicate listless start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 19.25 points or 0.1 per cent at 19,215 ahead of the opening bell on Dalal Street.
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