Moneycontrol PRO
Live now
auto refresh
November 03, 2022 / 04:09 PM IST

Closing Bell: Market ends with marginal cuts; IT, power stocks drag, banks gain

Among sectors, except bank, realty and FMCG, all other sectoral indices ended in the red.

  • Closing Bell: Market ends with marginal cuts; IT, power stocks drag, banks gain
    Stock Market Today:
    • 03:43 PM IST

      Raymond posts profit of Rs 158.9 crore in the quarter ended September 2022

    • 03:34 PM IST

      Indian rupee ends 11 paise lower at 82.89 per dollar

    • 03:24 PM IST

      Likhitha Infrastructure bags orders worth Rs 305 crore

    • 03:20 PM IST

      Morgan Stanley keeps underweight rating On LIC Housing Finance

    • 03:13 PM IST

      Coromandel International posts 42.6% rise in September quarter net profit at Rs 740.5 crore

    • 03:07 PM IST

      SRF reports 26% jump in Q2 net profit at Rs 481 crore

    • 03:03 PM IST

      Benchmark indices trade marginally lower in the volatile session

    • 02:48 PM IST

      Jefferies maintains buy rating on Dalmia Bharat, target Rs 1,825

    • 02:39 PM IST

      Archean Chemical Industries sets price band for Rs 1,462-crore IPO at Rs 386-407

    • 02:30 PM IST

      Medanta IPO Day 1 | Issue subscribed 9%, retail portion booked 8%

    • 02:30 PM IST

      Fusion Micro Finance IPO subscribed 20% on day 2, retail portion booked 24%

    • 02:29 PM IST

      Bikaji Foods International IPO posts 38% booking on bidding debut

    • 02:28 PM IST

      Indigo Paints Q2 net profit at Rs 37.1 crore against Rs 13.5 crore (YoY)

    • 02:16 PM IST

      Elecon Engineering Q2 net profit jumps 82.3% at Rs 64.5 crore against Rs 35.4 crore (YoY)

    • 02:11 PM IST

      HDFC Q2 net profit up 17.8% at Rs 4,454 crore against Rs 3,780.5 crore (YoY)

    • 01:44 PM IST

      Sapphire Foods Q2: Net profit at Rs 26.9 crore vs loss of Rs 5 crore

    • 01:38 PM IST

      Indian Bank Q2: Net profit up 12.5 percent YoY at Rs 1,225 crore

    • 01:32 PM IST

      Bank of India Q2FY23: Net interest income up 44 percent YoY at Rs 5,083 crore

    • 01:26 PM IST

      PTC Industries in MoU with defence PSU Mishra Dhatu Nigam for technical collaboration

    • 01:07 PM IST

      Shriram Properties Q2 Update: Sales volume at 1.01 msf, up 52 percent QoQ

    • 01:02 PM IST

      At 1 PM, about 1503 shares have advanced, 1634 shares declined, and 130 shares are unchanged

    • 12:42 PM IST

      Adani Wilmar Q2: Net profit down 73.3 percent YoY at Rs 48.7 crore

    • 12:38 PM IST

      Nifty IT down 1.18 percent as Cognizant cuts revenue forecast again

    • 12:03 PM IST

      Cipla Large Trade | 9.08 lakh shares worth Rs 106.07 crore change hands at Rs 1,168.75 per share

    • 12:02 PM IST

      At 12 PM, about 1618 shares have advanced, 1475 shares declined, and 123 shares are unchanged

    • 11:42 AM IST

      Bikaji Foods International IPO bought 18% on first day of bidding

    • 11:23 AM IST

      Star Health Large Trade | 18 lakh shares worth Rs 130.6 crore change hands at Rs 725.1 per share

    • 11:21 AM IST

      Medanta IPO Day 1 | Issue subscribed 2 percent, retail portion booked 3 percent

    • 11:07 AM IST

      Alembic Pharma gets final US FDA nod for Ketorolac Tromethamine injection USP

    • 11:01 AM IST

      At 11 am, about 1718 shares have advanced, 1297 shares declined, and 127 shares are unchanged

    • 10:50 AM IST

      Voltas stock under pressure after Q2 loss, however global brokerages expect up to 36% upside

    • 10:43 AM IST

      Fusion Micro Finance IPO sees 13% subscription on day 2, retail investors bought 15%

    • 10:31 AM IST

      Nifty Bank index rose 0.5 percent led by the PNB, IDFC First Bank, Federal Bank

    • 10:18 AM IST

      Sharekhan maintains 'Buy' recommendation on Sun Pharma, Price Target of Rs 1,300

    • 10:07 AM IST

      Morgan Stanley keeps overweight rating on Dalmia Bharat, target at Rs 1,850

    • 10:01 AM IST

      Benchmark indices erase most of the early losses and trading flat

    • 09:54 AM IST

      Morgan Stanley keeps overweight rating on Mahindra & Mahindra Financial Services, target Rs 225

    • 09:50 AM IST

      BSE Auto index is trading in the green led by the TVS Motor, Bajaj Auto, Tube Investments of India

    • 09:47 AM IST

      Geojit upgrade rating of Bandhan Bank to 'BUY' with a revised target price of Rs 282

    • 09:44 AM IST

      Nelcast Q2 profit spikes 262% YoY to Rs 12.15 crore, revenue grows 37%

    • 09:37 AM IST

      Nifty PSU Bank index added 1 percent led by the PNB, Bank of India, Central Bank of India

    • 09:35 AM IST

      Nifty Information Technology index slips 1 percent dragged by the Mphasis, Tech Mahindra, Wipro

    • 09:33 AM IST

      Gold ticks higher on dollar pullback; hawkish Jerome Powell caps upside

    • 09:32 AM IST

      RBI to hold an additional meeting on November 3

    • 09:31 AM IST

      Oil slips as dollar firms, but supply worries check losses

    • 09:09 AM IST

      17,900 can act as strong support for the Nifty: Mohit Nigam

    • 09:01 AM IST

      Domestic equities are likely to see a downward trend in early trades: Prashanth Tapse

    • 08:56 AM IST

      PNB on track to meet Rs 32,000 crore recovery target from bad assets in FY23: MD

    • 08:46 AM IST

      China's services activity skids in October on COVID restrictions - Caixin PMI

    • 08:43 AM IST

      Sailesh Bhan to replace Manish Gunwani as CIO - Equity at Nippon India Mutual Fund

    • 08:39 AM IST

      Dollar gains as traders gird for higher US rates

    • 08:33 AM IST

      USFDA issues warning letter to Lupin for Tarapur API plant

    • 08:30 AM IST

      Archean Chemical Industries to launch IPO on November 9

    • 08:21 AM IST

      Godrej Properties adds a 50 acres’ residential project in Manor-Palghar, Maharashtra

    • 08:17 AM IST

      Asia shares slip, Fed flags higher rates for longer

    • 08:02 AM IST

      18000-17950 would act as key support zones for the Nifty: Shrikant Chouhan

    • 07:59 AM IST

      Fusion Micro Finance IPO subscribed 13% on debut, retail portion booked 15%

    • 07:55 AM IST

      DCX Systems IPO subscribed 69.79 times on last day of offer

    • 07:45 AM IST

      Bikaji Foods International raises Rs 262 crore from anchor investors ahead of IPO

    • 07:44 AM IST

      Medanta mobilises Rs 661 crore via anchor book ahead of IPO

    • 07:40 AM IST

      Asian Markets are trading weak with Straits Times, Hang Seng, Taiwan Weighted down 1 percent each

    • 07:36 AM IST

      Wall Street drops as Jerome Powell signals Fed not close to done

    • 07:34 AM IST

      Fed unleashes another big rate hike of 75 bps but hints at a pullback

    • 07:31 AM IST

      SGX Nifty indicates a negative start for the Indian indices

  • IndexPricesChangeChange%
    Sensex57,581.00-32.72 -0.06%
    Nifty 5016,959.657.95 +0.05%
    Nifty Bank39,724.25156.35 +0.40%
    Nifty 50 16,959.65 7.95 (0.05%)
    Wed, Mar 29, 2023
    Biggest GainerPricesChangeChange%
    Adani Enterpris1,700.1599.30 +6.20%
    Biggest LoserPricesChangeChange%
    UPL705.85-8.80 -1.23%
    Best SectorPricesChangeChange%
    Nifty PSU Bank3598.4531.10 +0.87%
    Worst SectorPricesChangeChange%
    Nifty Energy22261.70-127.15 -0.57%

  • November 03, 2022 / 04:23 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

    The benchmark indices witnessed a volatile trading session, the Nifty ended 35 points lower while the Sensex was down by 112 points.

    Among Sectors, IT index lost the most, shed over 1.14 percent whereas PSU Banks bounced sharply, rallied 2.64 percent.

    Technically, on the backdrop of weak global cues our market opened with a negative note but after a gap down opening it bounced back sharply. However, after an early morning intraday rally the entire day the market witnessed range bound activity.

    The current market texture is non directional perhaps traders are waiting for either side breakout.

    For the bulls now 18150/61100 would be the fresh breakout level and above which the index could rally till 18250-18300/61300-61500. On the flip side, a fresh round of selling is possible only after dismissal of 17950/60500. Below which, the index could slip till 17850-17800/60300-60150.

  • November 03, 2022 / 04:06 PM IST

    Mohit Nigam Fund Manager & Head - PMS, Hem Securities:

    Indian equity markets closed in red for second consecutive session tailing weak global cues. Globally investors were worried after the US central bank Federal Reserve continued raising key interest rates in its fight against the multi-decade high inflation.

    Asian markets closed mostly in red after the Federal Reserve espoused a more hawkish outlook than expected, with Chinese equities cutting short a two-day rally amid uncertainty over the country’s plans to scale back COVID lockdowns.

    European markets are trading lower after the US Federal Reserve fully reaffirmed its commitment to fight inflation and signaled it was 'very premature' to think about pausing the tightening cycle.

    On the technical front, the key resistance level for Nifty50 is 18,200 and on the downside 17,900 can act as strong support. Key resistance and support levels for Bank Nifty are 41,700 and 40,900 respectively.

  • November 03, 2022 / 03:48 PM IST

    Karan Desai , Founder - Interface Ventures

    The MPC today was all about giving the central government comfort and visibility on the RBI’s efforts to reign in inflation and bring it back closer to the target 4% mark; it has consistently breached the upper tolerance threshold of 6% for the last 3 quarters running.

    Driven by the war in Ukraine, with surging inflation on account of supply disruptions of various commodities including food and fuel, the RBI has already hiked the repo rate 4 times this financial year to now rest at 5.9% in order to bring down inflation from its current 7% plus levels.

    While some feel that monetary tightening could have started a little earlier, the RBI took a fairly balanced approach to ensure that growth did not slow down as India was still emerging from the COVID induced lockdowns and business disruptions.

    The US Fed hiked rates by 75 bps just yesterday to a range of 3.75% to 4% which is at its highest level since 2008. However, it also indicated a tapering off of subsequent hikes in order to bring inflation back to around the 2% target.

    This could be indicative of a similar position taken by the central bank in India to continue raising the repo rate in lower increments going forward to keep a check on inflation until global macros reach some level of stability.

  • November 03, 2022 / 03:43 PM IST

    Raymond Q2 Earnings:

    Raymond has posted profit of Rs 158.9 crore in the quarter ended September 2022 against Rs 53.3 crore and revenue was up 39.8% at Rs 2,168.2 crore versus Rs 1,551.3 crore, YoY.

    Raymond touched a 52-week high of Rs 1,299 and closed at Rs 1,257.85, up Rs 84.00, or 7.16 percent on the BSE.

  • November 03, 2022 / 03:40 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

    The Nifty had formed a bearish outside bar along with an Engulfing bear candle on November 02. Thereon it stepped into a short term consolidation. Today, the index dipped below the immediate support of 18000 on an intraday basis however managed to hold on to it on a closing basis.

    Once the level of 18000 is breached on a closing basis then the Nifty will be set to test 17800 on the downside.

    On the higher side, 18200 will be the resistance for the short term. Thus 17800-18200 will be the short term consolidation range, within which, the index is expected to move towards the lower end of the range.

  • November 03, 2022 / 03:38 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services

    Fed’s refusal to tone down the rate hike narrative shattered the global markets as investors were in expectation of a dovish commentary. Powel cautions that the desired fed rate level is higher than expected, even though he indicated a rate hike of less than 75 bps in the upcoming meetings.

    On the back of concerns about the US recession, IT stocks led the domestic selloff, while FII support helped limit the losses.

  • November 03, 2022 / 03:34 PM IST

    Rupee Close:

    Indian rupee ended 11 paise lower at 82.89 per dollar on Thursday versus previous close of 82.78.

  • November 03, 2022 / 03:33 PM IST

    Market Close:

    Indian benchmark indices ended marginally lower in the volatile session on November 3.

    At Close, the Sensex was down 69.68 points or 0.11% at 60,836.41, and the Nifty was down 30.10 points or 0.17% at 18,052.70. About 1725 shares have advanced, 1630 shares declined, and 120 shares are unchanged.

    Tech Mahindra, Hindalco Industries, Power Grid Corporation, NTPC and Infosys were among the top Nifty losers. Gainers included SBI, Titan Company, UPL, HUL and HUL.

    Among sectors, except bank, realty and FMCG, all other sectoral indices ended in the red.

    The BSE midcap and smallcap indices ended on flat note.

  • November 03, 2022 / 03:24 PM IST

    Likhitha Infrastructure bags orders worth Rs 305 crore:

    Likhitha Infrastructure was quoting at Rs 390.40, down Rs 2.10, or 0.54 percent.


 Likhitha Infrastructure was quoting at Rs 390.40, down Rs 2.10, or 0.54 percent.
  • November 03, 2022 / 03:20 PM IST

    Morgan Stanley View On LIC Housing Finance

    -Kept underweight call and cut target to Rs 320 from Rs 375 per share
    -Cut EPS forecasts by 14%, 6% & 13% for FY23-25, respectively
    -Sharp decline in NIM largely due to yield sacrifice to retain customers
    -NIM will improve but should be lower than previous estimate, reported CNBC-TV18.

    LIC Housing Finance was quoting at Rs 369.80, up Rs 2.90, or 0.79 percent on the BSE.

  • November 03, 2022 / 03:19 PM IST
  • November 03, 2022 / 03:13 PM IST

    Coromandel International Q2

    Coromandel International has posted 42.6 percent rise in its September 2022 quarter net profit at Rs 740.5 crore versus Rs 519.3 crore and revenue was up 64.5% at Rs 10,113.4 crore versus Rs 6,147.5 crore, YoY.

    Coromandel International was quoting at Rs 987.45, up Rs 20.75, or 2.15 percent.