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October 29, 2019 / 03:44 PM IST

Closing Bell: Nifty settles at 11,787, Sensex jumps 582 pts; Tata Motors, Tata Steel top gainers

Indian market benchmark Sensex closed 582 points, or 1.48 percent, higher at 39,831.84 with 24 stocks up and only 4 down. The NSE Nifty50 settled 160 points, or 1.37 percent, up at 11,786.85 with 39 stocks in the green and 11 in the red. BSE Midcap rose 1.12 percent and the Smallcap index finished 0.55 percent up.

  • IndexPricesChangeChange%
    Sensex54,326.391,534.16 +2.91%
    Nifty 5016,266.15456.75 +2.89%
    Nifty Bank34,276.40960.75 +2.88%
    Nifty 50 16,266.15 456.75 (2.89%)
    Fri, May 20, 2022
    Biggest GainerPricesChangeChange%
    Dr Reddys Labs4,249.10319.65 +8.13%
    Biggest LoserPricesChangeChange%
    Shree Cements22,001.20-215.15 -0.97%
    Best SectorPricesChangeChange%
    Nifty Metal5706.35230.10 +4.20%
    Worst SectorPricesChangeChange%
    Nifty IT28789.40437.25 +1.54%

  • October 29, 2019 / 04:40 PM IST

    Hindustan Zinc Q2 net profit rose 14.7 percent at Rs 2,081 crore against Rs 1,815 crore, while revenue was down 5.6 percent at Rs 4,511 crore versus Rs 4,777 crore, YoY.

  • October 29, 2019 / 04:05 PM IST

    Expert view: The market in the near-term is likely to be driven by earnings outcome and auto volume numbers which will be a crucial indicator of the revival in consumer spending. Further, global cues will induce volatility as expectations are high from the ongoing US-China trade negotiations. The outcome of the US fed meet (scheduled for October 30) will also influence the market trend.

    --Ajit Mishra, Vice President -Research, Religare Broking.

  • October 29, 2019 / 04:03 PM IST

    Expert view: The recently concluded festive season has resulted in a turnaround in sentiment in the auto sector especially, which was quite stressed. The sector has witnessed improved sales driven by a competitive pricing strategy adopted by many players. This, combined with the trade pact between the 10 ASEAN members, and a proposed review of key taxes such as LTCG, STT and DTT before the budget have added further impetus to investor sentiment.

    --Sandeep Nayak, ED & CEO of Centrum Broking.

  • October 29, 2019 / 04:00 PM IST

    Expert view: A strong momentum is seen in the market as healthy Q2 earnings from big corporate and attractive valuation for mid and small-caps is providing a favorable risk-reward to investors. This positivity is likely to stay in the short to medium term as concerns of the market are fading with tax cut and govt’s intention to come out with more reforms in direct and indirect taxation. The clouds over the global market are gradually settling down with developments in trade deal and Brexit. A rate cut from the US Fed will further add impetus to emerging markets like India.

    --Vinod Nair, Head of Research, Geojit Financial Services.

  • October 29, 2019 / 03:57 PM IST

    Market update: Sensex and Nifty rose to 4-month highs on October 29, while Midcap and Nifty Bank touched 1-month highs. Nifty is now 316 points and Sensex is 480 points away from their record highs.

    Market logged healthy gains as sources indicated that the government is reviewing equity-related tax rate rationalisation. Market breadth is in favour of advances; the advance-decline ratio was at 3:2.

    Barring BSE Telecom (down 4.39 percent), all sectoral indices ended in the green, with Auto (up 4.25 percent and Metal (up 4.19 percent) leading. 

    Telecom stocks fell the most after the Supreme Court broadened the definition on adjusted gross revenue (AGR). Bharti Airtel deferred Q2 earnings on AGR impact. The stock slipped 3 percent while Bharti Infratel plunged 9 percent, tracking the SC’s AGR order for telcos. Vodafone Idea finished with a loss of 8 percent. 

  • October 29, 2019 / 03:40 PM IST

  • October 29, 2019 / 03:10 PM IST

    Ashish Nanda, EVP & Business Head - PCG, Commodities and Currency Business, Kotak securities:

    Globally, trade deal between US and China is increasing optimism, delay in Brexit decision till January will also remove uncertainties in the medium term, one more rate cut expectations from FOMC meeting and above expectations quarterly performance from S&P companies could cheer the market sentiment.

    Domestically, Q2 numbers from large cap companies have beat the expectations and the pessimism, which the market participants were having. Internationally, crude prices rose to 62 is negative, however, strength in Indian currency to 70.90 would offset the effect of rising crude prices.

    For the week, the visit of PM Modi to Saudi Arabia would keep the market and especially to Oil Refinery sector excited. In brief, news flows are neutral to positive and it would attract buying at lower levels. For the week, we could expect break of range of 11,720 and 11,470 on either side.

  • October 29, 2019 / 03:00 PM IST

    Welspun India has received final approval from the trial Court for the settlement agreement that is intended to resolve all pending legal claims made against the Company in the United States concerning the past marketing and labelling of its premium cotton home textile products. 

  • October 29, 2019 / 02:51 PM IST

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