28/09/2022

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MARKETS: Sensex, Nifty move in green; Metals outperform, Banks subdued

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Markets at 12 noon

LIVE market updates: The key headline indices remained listless at noon and were largely flat. The BSE Sensex was up 27 points at 58,024 and the NSE Nifty was at 17,349, higher by 27 points.


HDFC, Reliance, Tata Steel, L&T, Titan and Wipro were the leading gainers on the Sensex, up 0.5-1.5 per cent. On the Nifty, Tata Consumer, Hindalco, JSW steel, ONGC, Bajaj Auto and Tata Motors were the top winners, up to 2 per cent higher.


ALSO READ | The recent slide in Nifty Auto saw bullish accumulation and even witnessed a smart recovery around the same mark. Now, any up move above 11,900 could witness a robust breakout towards a new all-time high of 12,500. Bajaj Auto, Tata Motors can rally up to 9%. Click here to read








In the broader markets, the BSE MidCap index was a major outlier, up 0.3 per cent. Gains in the index were led by Adani Power, Shreeram Transport Finance, Page Ind, Indian Hotels, Tata Consumer, BEL, TVS Motors, JSW Energy, Honey Automation, Gland Pharma, Torrent Pharma, Aditya Birla Fashion, trading up 1-5 per cent.


Hotel and Restraunt stocks were also trading firmly higher as reports on Wednesday said that the government is mulling resuming flights from March-April. Lemon Hotels, Indian Hotels, Specialty Restraunt, Chalet Hotels, and EIH Ltd were up between 1-5 per cent. Advani Hotels and Resorts was the top gainer, up over 16 per cent.


Among stocks,Schaeffler India surged after the company’s net profit rose 34.6 per cent to Rs 190.64 crore on a 19.58 per cent rise in net sales to Rs 1523.22 crore in the December quarter.

Schaeffler India


Schaeffler India













Shares of FSN e-Commerce Ventures, the parent company of beauty e-tailer Nykaa, continued to remain under selling pressure, hitting a new low of Rs 1,371.35, on slipping 9 per cent on the BSE. READ HERE

Further, shares of Adani Group of companies were buzzing on the bourses soaring up to 8 per cent on the BSE. Adani Green Energy, Adani Power, Adani Transmission and Adani Total Gas were up in the range of 3 per cent to 8 per cent, while Adani Enterprises and Adani Ports and Special Economic Zone added 1 per cent. READ MORE

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Markets at 11 AM

LIVE market updates: The frontline indices continued to trade on a choppy note amid high volatility in morning trades. The indices were moving between the red and green zones. The BSE Sensex was 92 points higher at 58,089, while the NSE Nifty was at 17,370, up 47 points.


On the Sensex, banking counters ICICI Bank and Axis Bank continued to top the losers list down over a per cent each. Ultratech Cement, Sun Pharma, Bajaj twins and Asian Paints were the other major losers.




The broader markets were mixed with the BSE MidCap index up 0.2 per cent and the SmallCap index down 0.12 per cent.


Sectorally, the Nifty Auto and Metal indices were the major outliers in a subdued market, up 0.4 per cent and 0.55 per cent up, respectively. The Nifty Oil & Gas index, too, was up 0.8 per cent. The top laggard remained Nifty Bank, down 0.5 per cent.


Among stocks, shares of Shankara Building Products hit a 52-week high of Rs 705, gaining as much as 4 per cent on the BSE in an otherwise subdued market. In the past two weeks, the stock of the building and home improvement products company has zoomed 42 per cent from Rs 498 levels. READ MORE HERE




Further, Jubilant Ingrevia was trading 1.5 per cent higher on the BSE after the company announced the commissioning of its new Diketene derivatives facility at its manufacturing site in Uttar Pradesh. The company has developed a range of Diketene

Derivatives. The newly commissioned facility marks its entry into the fast growing Diketene business portfolio, it said. READ HERE.




BS SPECIAL

The sharp correction in equity markets over the past few months has dealt a body blow to some of the stocks that debuted at the bourses in fiscal 2021-22 (FY22). A total 54 companies have mopped up nearly Rs 1.2 trillion thus far in FY22 from the primary market. Of these, stocks of 32 companies (60 per cent) are trading below their listing day close price. READ TO KNOW MORE




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Markets at 10 AM

LIVE market updates:

The benchmark indices turned volatile soon after they opened with modest gains. The market sentiment is subdued on account of the weekly F&O expiry. The BSE Sensex was down 43 points at 57,953, while the NSE Nifty was flat at 17,326 level.


Banking stocks came under selling pressure amid losses led by IndusInd Bank, Axis Bank, ICICI Bank, and HDFC Bank, down 0.5-1 per cent. Other top losers were Shree Cement, Ultratech Cement, Dr Reddy’s, SBI and Bajaj twins.


On the upside, PowerGrid, Reliance, M&M, HDFC and Titan were the top Sensex gainers, up to 1 per cent higher. Cipla, Tata Motors, HeroMoto Corp, ONGC, Tata Consumer and Bajaj Auto were the top Nifty gainers, up 1-2 per cent.


In the broader markets, the BSE MidCap and SmallCap indices had also pared their opening gains with the former trading 0.16 per cent up, while the latter being 0.02 per cent lower.


Among sectors, Nifty Auto index was the top outperformer, up 0.75 per cent, followed by Nifty Oil & Gas index, higher by 0.6 per cent. On the other hand, Nifty Bank was down 0.6 per cent, while IT, Metals, and Pharma indices were flat.


Individually, shares of Hero MotoCorp (HMCL) hit an over four-month high of Rs 2,866, rising 3 per cent. The stock has surged 8 per cent in the past three trading days on the BSE ahead of the first electric product (EV) product launch, expected in March. READ MORE HERE
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Opening Bell

LIVE market updates: The benchmark indices started Thursday’s session on a fairly positive note as Russia Ukriane conflict concerns eased. The BSE Sensex rose 234 points at 58,231, while the NSE Nifty was at 17,400, higher by 78 points.


However, the indices came off their opening highs soon after the start and slipped into the negative territory as selling pressure mounted on banking stocks, especially.




Among the Sensex-30 shares, Titan, NTPC, M&M, HDFC, Wipro, L&T, PowerGrid, Tata Steel, Asian Paints, Nestle, Bajaj Finance, ITC and Bharti Airtel were the top gainers, up 0.4-1 per cent. On the Nifty, Hero MotoCorp, Tata Motors, Indian Oil Corp and Eicher Motors were the top additional gainers, trading 1.5-2.6 per cent.


On the downside, Shree Cement, Britannia, Ultratech Cement, Sun Pharma, HUL, ICICI Bank, Axis Bank, meanwhile, were the top losers.



In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, up 0.5 per cent each.


Sectorally, the Nifty Auto index was the leading gainer, up 1 per cent, followed by Nifty Realty, and Oil & Gas were up 0.4 per cent each. Nifty Bank and Pharma slipped into the red as they pared their opening gains, down up to 0.2 per cent.


Among stocks, Hikal was down 6 per cent on the BSE after the company received a notice from the Maharashtra Pollution Control Board for closure of Taloja unit within 72 hours. The Taloja unit had contributed approximately Rs 260 crore amounting to around 15 per cent of the turnover for FY21.


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Pre-open session

LIVE market updates:

The benchmark indices were seen holding modest gains in the pre-open trades. The BSE Sensex was up 170 points at 58,167, while the NSE Nifty was at 17,375, up 53 points.


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LIVE market updates: The key benchmark indices are expected to start Thursday’s session in the positive zone as per trends indicated by the SGX Nifty futures, which were quoting 17,374 levels around 8 am, over 50 points higher than Nifty’s previous spot close.


Today’ session can witness volatility on account of the weekly F&O expiry. Meanwhile, investors may also take into account the January Fed meeting minutes, which show that the central bank believed it was time to raise interest rates, but also that any decisions would depend on a meeting-by-meeting analysis of inflation and other data.

This apart, among stocks, Ambuja Cements and Nestle India are scheduled to announce December quarter earnings and may remain in focus. READ MORE




Wipro may also be eyed as the company has received a five-year contract to drive transformation for ABB’s information systems digital workplace services. The agreement, worth over $150 million, will help ABB’s information systems deliver enhanced, consumer-grade digital experiences for its 1,05,000 employees in over 100 countries.


Global Cues




The US markets ended a volatile session of trade on Wednesday with marginal losses as investors heaved a sigh of relief after Fed FOMC release minutes indicated that the Fed intends to raise interest rates, but it would be done at a moderate pace. Thus, allying some fears of back-to-back rate hikes this calendar year. The Dow Jones slipped 0.2 per cent. The S&P 500 and Nasdaq were down 0.1 per cent each.




Meanwhile, Oil prices rose as the US and NATO questioned Russia’s willingness to negotiate a solution to the crisis, and accused it of increasing its military build-up surrounding Ukraine. Brent crude surged 1.6 per cent to $94.81 a barrel, and WTI crude jumped 1.7 per cent to $93.66, a barrel.




Major markets in Asia exhibited a mixed trend this morning. Kospi surged 1.2 per cent. Straits Times and Taiwan were up 0.6 per cent and 0.4 per cent, respectively. On the other hand, Japan’s Nikkei declined 0.4 per cent, and Shanghai Composite was down 0.2 per cent. Hang Seng traded on a flat note.


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