Share Market HIGHLIGHTS | Sensex soars 742 pts, Nifty climbs to 19,675 on global boost; Eicher zooms 5%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex registered sharp gains on Wednesday, mirroring strength across global markets after a softer-than-expected US inflation reading eased worries about higher-for-longer interest rates. Catch all the highlights of the day on Dalal Street, and the views of Zee Business Managing Editor Anil Singhvi and other market experts on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty and Sensex registered sharp gains on Wednesday amid a broad-based rally, tracking strong moves across global equities after a softer-than-expected inflation reading from the world's largest economy eased concerns about higher-for-longer benchmark interest rates among investors globally.
Financial and IT stocks led the rally on Dalal Street, where all sectoral gauges staged handsome moves.
Catch all the highlights of the November 15 session on Dalal Street, along with the views of Zee Business Managing Editor Anil Singhvi and other market experts, and much more, on Zeebiz.com's blog:
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Thank you! That's all today on Zeebiz.com's blog on the November 15 session on Dalal Street
Closing Bell | Sensex soars 742 pts, Nifty settles at 19,675; Eicher Motors zooms 5%, Tech Mahindra jumps 4%
Share Market Today LIVE | Sumeet Bagadia recommends Tata Consumer Products as momentum pick
Sumeet Bagadia of Choice Broking believes Tata Consumer Products shares can stage a decent upmove in the coming days. He recommends fresh buying in the Tata group scrip and suggests existing investors hold their positions.
He has given short-term momentum targets of Rs 945 and Rs 950 with a stop loss at Rs 915, and is of the view that positional targets can be even higher.
Share Market Today LIVE | Dow Jones, S&P 500 futures, Nasdaq Composite futures suggest another day of gains on Wall Street ahead
The futures contracts of the three main US stock market benchmarks, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, are trading 0.2-0.4 per cent higher at this hour, suggesting yet another day of gains on Wall Street.
- Dow Jones futures: up 72 pts at 34,959
- S&P 500 futures: up 12.3 pts at 4,523.3
- Nasdaq Composite: up 62 pts at 15,941.8
On Tuesday, blue-chip index S&P 500 and the tech stocks-heavy Nasdaq Composite posted their biggest daily percentage gains since April 27 as softer-than-expected inflation data supported the view that the Fed may be done raising benchmark interest rates. Small-cap 2000 index Russell jumped 5.4 per cent.
Data showed US consumer prices were unchanged in October as Americans paid less for gasoline, and the annual rise in underlying inflation was the smallest in two years. In the 12 months through October, the CPI climbed 3.2% - below economists' estimates—after rising 3.7 per cent in September.
Share Market Today LIVE | Recent correction may have prepared three PSU bank stocks for a rebound
PSU banking stocks have undergone significant corrections over the past few weeks, and many analysts believe that a recent spike in select names from the space may be an early sign of a stronger move up ahead.
"Q2 has been a mixed bag for PSU banks as credit growth for most banks was reasonably strong. The quarter saw healthy recoveries which led to improvement in Asset quality with GNPA/NNPA ratios improving towards decadal low levels. Lower provisions were also seen aiding the earnings growth. However, the NIMs came under pressure owing to the rising cost of funds, and the same is expected to continue," says Jyoti Roy, Head of Equity Research at Sanctum Wealth.
"This was the key negative in the Q2 results for the PSU banks," Roy adds.
Share Market Today LIVE | Bandhan Bank (BANDHANBNK) shares may be preparing for a short-term rally
Sumeet Bagadia of Choice Broking points out that a stock yet to perform in the momentum building up in the banking space is Bandhan Bank. BANDHANBNK shares have consolidated at lower levels in two weeks and look ready for a firm move over the next few days, he says.
He suggests buying Bandhan Bank shares for targets of Rs 228 and Rs 232 for the coming week with a stop loss at Rs 216.
Share Market Today LIVE | Buy HDFC Life Insurance Company (HDFCLIFE) futures, says Sacchitanand Uttekar
Sacchitanand Uttekar of Tradebulls Securities has a 'buy' call on HDFC Life Insurance futures.
He has placed his targets for the life insurer's stock at Rs 660 and Rs 700 and suggests placing a stop loss at Rs 632.
Here's how the stock has moved in five days:
Image: BSEIndia.com
Share Market Today LIVE | Sumeet Bagadia expects a strong move in Indian Oil shares
Sumeet Bagadia of Choice Broking believes IOC shares offer a favourable risk-reward ratio at the current juncture. He recommends buying the state-run OMC stock for short-term targets of Rs 104 and Rs 106, and even higher positionaltargets, with a stop loss at Rs 99.
Share Market Today LIVE | Nifty Metal takes four-day gains to almost 4% led by Hindalco stock
The Nifty Metal index is holding on to much of its intraday gains of 137.4 pts, or 2.0 per cent, to 6,851.5 led by strong buying interest in Hindalco and Tata Steel.
At the day's high, the metal gauge has taken its gains to 251.8 pts, or 3.8 per cent, in four back-to-back sessions. Take a look at the top movers and shakers in the 15-scrip metal pack:
Image: Niftyindices.com
Share Market Today LIVE | Market breadth favours the bulls
Overall market breadth remains positive, with the advance-decline ratio at 8:5 as 2,283 stocks rise against the 1,403 laggards on BSE.
Share Market Today LIVE | Buy Bikaji Foods shares, says Bhavin Shah
Market expert Bhavin Shah expects a strong upside in Bikaji Foods shares. He suggests buying the snack maker's stock for a price target of Rs 580 with a stop loss at Rs 520.
Share Market Today LIVE | Buy Tech Mahindra, Birlasoft shares, says Bhavin Shah
Market expert Bhavin Shah shares two calls from the IT space:
- Buy Tech Mahindra shares for a short-term target of Rs 1,200 with a stop loss at Rs 1,155
- Buy Birlasoft shares for a target of Rs 620
He expects momentum in Birlasoft shares to continue with strong support at Rs 590 following consolidation of 5-6 trading sessions with solid volumes.
Share Market Today LIVE | Buy Eicher Motors, says Bhavin Shah
Market expert Bhavin Shah suggests existing investors to hold on to their positions in Eicher Motors, and recommends fresh positions at Rs 780 and even at current levels.
He believes the stock is up for a strong upmove for a long-term target of Rs 4,000 and and immediate target of Rs 3,950.
Share Market Today LIVE | Buy Chennai Petroleum, JSW Energy shares, says Shivangi Sarda
Motilal Oswal Financial Services' Shivangi Sarda shares two trading calls with Zee Business viewers:
- Buy Chennai Petrol shares for a target of Rs 645 with a stop loss at Rs 598
- Buy JSW Energy shares for a target of Rs 425 with a stop loss at Rs 395
Image: Reuters
Share Market Today LIVE | Sensex, Nifty at day's highs; all of NSE's sectoral indices enjoy gains
Both headline indices are up one per cent. The Sensex gains as much as 673.8 pts to touch 65,607.6 on the upside and the Nifty50 climbs to as high as 19,657.5, up 214 pts from its previous close.
Here's where the sectoral gauges stand at this hour:
Index Change (%) NIFTY REALTY 2.34 NIFTY IT 2.21 NIFTY OIL & GAS 1.42 NIFTY AUTO 1.19 NIFTY MEDIA 1.19 NIFTY METAL 1.17 NIFTY FINANCIAL SERVICES 1.11 NIFTY PSU BANK 0.81 NIFTY BANK 0.77 NIFTY PRIVATE BANK 0.71 NIFTY CONSUMER DURABLES 0.61 NIFTY FMCG 0.4 NIFTY HEALTHCARE INDEX 0.19 NIFTY PHARMA 0.07 Share Market Today LIVE | Manappuram Finance shares soar after NBFC's better-than-expected Q2 show
The financier's stock zooms by Rs 14.1, or 10 per cent, to touch Rs 154.7 apiece at the strongest level of the day, coming within Rs 2 of a 52-week high scaled in September.
What's driving the sharp gains in the counter?
- Better-than-expeced Q2 results
- Strong guidance
- Brokerages raise targets
On Tuesday, Kerala-headquartered Manappuram Finance reported a net profit of Rs 420 crore and net interest income of Rs 962 crore for the July-September period. Zee Business analysts had pegged the NBFC's quarterly net profit at Rs 400 crore and NII at Rs 975 crore. Manappuram's net interest margin, a key measure of a lender's profitability, came in stable at 12.6 per cent.
The Manappuram Finance management expects 8-10 per cent growth in gold loans for the year ending March 2024.
CLSA maintained its 'buy' call on Manappuram Finance after the company's earnings announcement, and raised its target for the stock to Rs 185 from Rs 174. Morgan Stanley retained an 'overweight' rating on Manappuram and raised its target by Rs 17 to Rs 200.
Share Market Today LIVE | Buy LIC Housing Finance, Tata Motors, says Nilesh Jain
Nilesh Jain of Centrum Broking shares two derivatives calls:
- Buy LIC Housing Finance futures for targets of Rs 480 and Rs 485 with a stop loss at Rs 456
- Buy Tata Motors futures for targets of Rs 675 and Rs 685 with a stop loss at Rs 654
Share Market Today LIVE | Siemens AG to buy Siemens Energy's stake in Indian JV at 15% discount
Siemens AG says it intends to buy an 18 per cent share from Siemens Energy in their Indian joint venture Siemens Ltd for 2.1 billion euros ($2.28 billion), reflecting a discount of 15 per cent on the average price.
Share Market Today LIVE | RVNL shares jump after rail infra PSU bads Rs 311-crore letter of acceptance from Central Railway
Rail Vikas Nigam Ltd (RVNL) shares gain as much as 3.8 per cent to Rs 162.9 apiece on BSE, trading in high volumes. As many as 10.3 lakh RVNL shares have already changed hands for the day on the bourse, sharply higher than a daily average of 6.6 lakh over the past two weeks, according to provisional exchange data.
The deal involves the development of four tunnels and the projects are to be completed within 18 months.
Share Market Today LIVE | Tech Mahindra (TECHM), Infosys (INFY), Wipro, TCS, Tata Steel (TATASTEEL), Bajaj Finserv (BAJAJFINSV) among top Sensex gainers
Only two stocks in the 30-scrip pack are struggling below the flatline.
Image: BSEIndia.com
Share Market Today LIVE | Infosys, TCS, Tech Mahindra shares lead rally in IT stocks, but when is the real recovery happening?
IT shares zoom with Infosys and TCS leading gains in the sector and contributing to a broader rally on Dalal Street, mirroring overnight gains on the tech stocks-heavy Nasdaq Composite following the release of softer-than-expected US inflation data that supported the view that the Fed may be done raising benchmark interest rates. Here's how the IT stocks fare at this hour:
Stock/index Change (%) CMP/level NIFTY50 1.00 19,638 NIFTY IT 1.79 31,184.8 MPHASIS 4.07 2,239 COFORGE 3.42 5,259 TECHM 3.06 1,166 LTIM 2.18 5,376 LTTS 2.11 4,347.65 WIPRO 1.9 388.9 INFY 1.77 1,397.9 TCS 1.3 3,374.9 HCLTECH 0.9 1,272.4 PERSISTENT 0.14 6,245 Share Market Today LIVE | Looking for stocks to buy? ONGC, Tata Power, MM Forgings, BEL among analysts' top picks in special segment 'Player of the Day'
In conversation with Zee Business Managing Editor Anil Singhvi, market experts share their top stock recommendations in this special segment, Player of the Day.
Kunal Saraogi of Equity Rush recommends buying ONGC futures on declines for targets of Rs 208 and Rs 212 with a stop loss at Rs 199. Sumeet Bagadia of Choice Broking suggests buying Tata Power shares for short-term targets of Rs 266 and Rs 270, and even higher positional targets, with a stop loss at Rs 256.
Check out the complete list here
Image: Reuters
Share Market Today LIVE | Buy Birlasoft, Shriram Properties shares, says Swati Hotkar
Swati Hotkar of Nirmal Bang Securities shares two stock recommendations:
- Buy Birlasoft shares for a target of Rs 625 with a stop loss at Rs 590
- Buy Shriram Properties shares for targets of Rs 118-120 with a stop loss at Rs 102
Here's how the two stocks have moved in five trading sessions:
Birlasoft
Shriram Properties
Images: BSEIndia.com
Share Market Today LIVE | Narayana Hrudayalaya (NH) shares zoom as investors cheer healthcare service provider's strong operational performance
Narayana Hrudayalaya shares rise by as much as Rs 95.4, or 8.8 per cent, to Rs 1,182.9 apiece. The stock is holding on to much of the day's gains, enjoying gains of Rs 42.5, or 3.9 per cent, at Rs 1,130 apiece at this hour with strong volumes.
As many as 79,000 NH shares have changed hands on BSE so far today, as against a daily average of 13,000 recorded in the past two weeks, according to exchange data.
On Tuesday, the company reported a 34 per cent year-on-year jump in net profit with 14.3 per cent growth in revenue for the July-September period. Its margin improved by 226 basis points to 23.6 per cent.
Share Market Today LIVE | Pullback rally may continue as long as Nifty holds 19,500, says Swati Hotkar
Swati Hotkar of Nirmal Bang Securities points out that the Nifty50 has managed to cross ots 50-day moving average (DMA) and a move past resistance at 19,700 may extend all the way to 19,800-20,000-odd levels with crucial support at 19,500.
She has a positive view on the market and suggests adopting a stock-specific strategy at the current juncture.
Share Market Today LIVE | Yatra Online shares tank after disappointing Q2 results
Yatra Online shares, which entered the listed space in September, face selling pressure after the online travel company reports a weak set of quarterly results.
The stock declines by Rs 7.6, or 5.4 per cent, to Rs 131.1 at the lowest level of the day so far.
On Tuesday, the company reported a net loss of Rs 17 crore for the July-September period as against a net loss of Rs 2 crore for the corresponding period a year ago, though its quarterly revenue grew 14.6 per cent.
Share Market Today LIVE | Newly-listed ASK Automotive shares trade at 10% premium over issue price
ASK Automotive, whose shares debuted in the secondary market at 10 am today, is quoting at Rs 310.5 apiece on BSE and Rs 310.7 on NSE after rising to as high as Rs 311.8 and Rs 312 on the bourses, translating into premiums of 10.6 per cent and 10.5 per cent, respectively.
Share Market Today LIVE | NMDC shares under pressure after PSU miner disappoints Street with Q2 results
NMDC shares fall as much as 4.9 per cent to Rs 166.7 apiece on BSE after the state-run mining major reports a weak set of quarterly numbers the previous day.
Its margin for the three-month period came in at 29.7 per cent. Zee Business analysts had pegged the miner's quarterly margin at 31.5 per cent.
Share Market Today LIVE | Nuvama expects MSCI changes to lead to inflows of $1.5 billion for D-Street
According to Nuvama, MSCI's index review may lead to inflows to the tune of $1.5 billion for the Indian stock market.
While MSCI has announced the addition of nine stocks to its standard index, it has not removed any scrip from the gauge. After the latest changes, which will take effect on November 30, the standard index will have 131 Indian stocks.
India's weight in the index will be 16.3 per cent, instead of the current 15.9 per cent.
Share Market Today LIVE | Tata Motors shares rise on MSCI ACWI inclusion
Tata Motors shares gain by as much as Rs 8.4, or 1.3 per cent, to Rs 661.5 apiece on BSE.
Image: BSEIndia.com
Share Market Today LIVE | Tata Motors among 46 stocks to be added to MSCI ACWI index; 69 to be removed
Index provider MSCI has announced that 46 securities will be added to and 69 deleted from its widely-followed MSCI ACWI stock index, while 14 will be added and two deleted from its frontier markets stock index. Changes will take effect at the end of the trading day on November 30. Among the three largest additions from emerging markets is Tata Motors.
The three largest additions to the MSCI ACWI from developed markets will be Vertiv Holdings and Celsius Holdings from the US, and Leonardo from Italy.
Share Market Today LIVE | HDFC Bank, Infosys biggest boosts for Sensex
Financial and IT shares are at the forefront of the rally on D-Street, with HDFC Bank and Infosys being the top contributors to the gain in the 30-scrip gauge.
Image: BSEIndia.com
Share Market Today LIVE | ASK Automotive (ASKAUTOLTD) shares enter listed space at 8% premium over issue price
Auto component maker ASK Automotive's shares debut at a premium of about eight per cent over the upper end of the issue price.
The stock begins its journey at Rs 304.9 on BSE and Rs 303.3 on NSE, a premium of Rs 22.9 (8.1 per cent) and Rs 21.3 (7.6 per cent), respectively.
Share Market Today LIVE | Hindalco, LTIMindtree, ONGC, Tech Mahindra, Tata Steel among top Nifty50 gainers
As many as 43 stocks in the blue-chip basket are in positive territory. Here are some of the top gainers and losers in the pack:
Stock Change (%) CMP HINDALCO 4.43 509.1 LTIM 3.31 5,435 ONGC 3.24 202.15 JSWSTEEL 2.54 780.4 TECHM 2.49 1,159.50 UPL 1.99 563.7 TATASTEEL 1.86 123.25 EICHERMOT 1.85 3,712.95 INFY 1.85 1,399 GRASIM 1.61 1,959.85 NESTLEIND -0.17 24,045.70 POWERGRID -0.19 211.9 SUNPHARMA -0.27 1,174.60 BRITANNIA -0.45 4,675 Share Market Today LIVE | Sensex soars over 600 pts, Nifty crosses 19,650
Both headline indices leap around one per cent within the first few minutes of trade, with the Sensex gaining as much as 645.1 points to touch 65,579 on the upside, and the Nifty climbing to as high as 19,653.4, up 209.8 points from its previous close.
Nifty50 LIVE
Sensex LIVE
Images: BSEIndia.com, NSEIndia.com
Share Market Today LIVE | Sensex opens over 500 pts higher, Nifty touches 19,650 amid strong buying across sectors
The Sensex begins the day with a gain of 527.7 points, or 0.8 per cent, at 65,461.5, and the Nifty at 19,651.4, up 207.9 points, or 1.1 per cent, from its previous close.
Share Market Today LIVE | Rupee opens stronger by 27 paise at 83.06 vs US dollar
The rupee begins the day stronger by 27 paise, or 0.3 per cent, at 83.06 against the greenback.
Share Market Today LIVE | No major results today
On Tuesday, a host of companies reported their quarterly earnings, including Indiabulls Housing Finance, Natco Pharma, NMDC, PC Jeweller, Kalyan Jewellers, Rajesh Exports, Uflex, Yatra Online, KNR Constructions, Astra Microwave, Trident, Wockhardt, Kohinoor Foods, MMTC, National Fertilizers, Ethos, Sigachi Industries and Capacite Infra.
Share Market Today LIVE | GIFT Nifty futures indicate a big gap-up start, up over 250 points
GIFT Nifty futures, an early indicator of the headline Nifty50 index, are up 251.5 points, or 1.3 per cent, at 19,739.5 at this hour, suggesting a solid start ahead on Dalal Street.
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