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November 09, 2021 / 04:19 PM IST

Closing Bell: Sensex, Nifty end flat amid volatility; auto stocks gain, metals drag

Among sectors, auto and capital goods indices added 1 percent each, while buying is seen in the power, oil & gas, pharma names. However, metal and banking names remained under pressure. The BSE midcap index was up 0.8 percent and smallcap index rose 0.67 percent.

  • IndexPricesChangeChange%
    Sensex61,308.9185.88 +0.14%
    Nifty 5018,308.1052.35 +0.29%
    Nifty Bank38,216.15-154.25 -0.40%
    Nifty 50 18,308.10 52.35 (0.29%)
    Mon, Jan 17, 2022
    Biggest GainerPricesChangeChange%
    Hero Motocorp2,701.50131.80 +5.13%
    Biggest LoserPricesChangeChange%
    HCL Tech1,258.75-78.45 -5.87%
    Best SectorPricesChangeChange%
    Nifty Auto11881.25238.25 +2.05%
    Worst SectorPricesChangeChange%
    Nifty Pharma13862.45-101.75 -0.73%


  • November 09, 2021 / 04:19 PM IST

    Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:

    USDINR spot closed flat near 74.02 levels, thanks to suspected RBI intervention at lower levels. IPO inflows have been a major contributor in driving USDINR from 75.00 to 74.00 levels on spot. 

    With PAYTM IPO about to conclude, IPO inflows may get over soon. Assuming RBI increases the pace of intervention, USDINR may slip into a range of 73.75 and 74.50 over the near term.

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  • November 09, 2021 / 04:13 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets traded lackluster and ended almost unchanged, in absence of any major trigger. After the initial uptick, the benchmark gradually drifted lower as participants preferred to book profits in financials, metals and FMCG stocks. However, healthy buying in auto & PSU banks combined with a noticeable interest in the broader markets capped the downside. Amid all, the Nifty settled at 18,044 levels.
     
    The last leg of the earnings season and mixed global cues are keeping markets volatile. Though the benchmark is not offering any cues over the next directional move, recent buoyancy in the midcap and smallcap space is offering ample opportunities, so participants should align their positions accordingly. 

  • November 09, 2021 / 04:01 PM IST

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

    The Nifty had crossed a falling trendline on the hourly chart by a small margin on November 08. The index retested the trendline on November 09. It traded along with the trendline throughout the day. 

    On the downside, as expected, 18,000 – 17,950 acted as a near term cushion. Also, the key hourly moving averages offered support on the downside. Thus, as long as the Nifty trades above 18,000 – 17,950, it can take a leap on the upside. 

    Structurally, the Nifty is expected to go for deep retracement of the entire decline from 18,604 to 17,613. So it can march towards the 61.8% & 78.6% retracement mark, which are at 18,225 & 18,392 respectively

  • November 09, 2021 / 03:55 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities:

    Index opened a day with gap up but showed a dull moment throughout the day & closed a day at 18,044 with minimal loss. The index has formed a strong base around 18k mark & in today’s session also we witnessed a good pull back from the said levels only.

    Going forwards also 18k mark will act as fantastic support and if index managed to hold above 18k mark, one can expect the next move towards 18,200-18,300 zone. On a very quick basis, the overall structure is still positive and buy on the dip.

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  • November 09, 2021 / 03:49 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:

    The Nifty has closed above 18,000 which is a positive sign. However, it is still indecisive and is facing resistance at higher levels. 

    If we can sustain these levels, the markets can scale up higher to 18,400 and then 18,600. 

    We have good support at 17,600 and hence long positions can be accumulated for higher targets.

  • November 09, 2021 / 03:44 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    After a positive opening, the domestic market traded lower as private banking stocks were under pressure following dull global markets. 

    However, auto, PSBs and consumer durables climbed against the market trend with small and mid-cap stocks outperforming. 

    Despite the passage of the long-awaited infrastructure bill, the gains in the US market were capped as investors cautiously awaited the US inflation data.

  • November 09, 2021 / 03:35 PM IST

    Market Close: Benchmark indices ended with marginal losses in the volatile session on November 9.

    At Close, the Sensex was down 112.16 points or 0.19% at 60,433.45, and the Nifty was down 24.20 points or 0.13% at 18,044.30. About 1958 shares have advanced, 1269 shares declined, and 162 shares are unchanged.

    M&M, Tata Motors, Hero MotoCorp, ONGC and SBI were among the major Nifty gainers. Losers included Britannia Industries, HDFC Bank, Maruti Suzuki, JSW Steel and Power Grid.

    Among sectors, auto and capital goods indices added 1 percent each, while buying is seen in the power, oil & gas, pharma names. However, metal and banking names remained under pressure. The BSE midcap index was up 0.8 percent and smallcap index rose 0.67 percent.

  • November 09, 2021 / 03:27 PM IST

    Vijay Dhanotiya, Senior Research Analyst at CapitalVia Global Research:

    The market witnessed some lackluster movement and an attempt to hold the level of 18,000. The market suggests that sustaining above 18,000 will be an important, to stay positive in the short term. 

    If the market is able to sustain the level of 18,000, it can witness a positive momentum which can lead to higher levels near 18,250. The momentum indicators like RSI and MACD indicating positive momentum in the market.

  • November 09, 2021 / 03:25 PM IST

    Kitex Garments Q2 earnings:

    Kitex Garments’ Q2 net profit rose 44.4 percent at Rs 25.7 crore versus Rs 17.8 crore and revenue was up 33.7 percent at Rs 178.1 crore versus Rs 133.2 crore, YoY.
       
    Earnings before interest, tax, depreciation and amortization (EBITDA) rose 36.1 percent at Rs 38.1 crore and margin was at 21.4 percent versus 21 percent, YoY.

    Kitex Garments was quoting at Rs 171, up Rs 2.10, or 1.24 percent on the BSE.

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  • November 09, 2021 / 03:19 PM IST

    VST Tillers Tractors Q2 earnings:

    VST Tillers Tractors has posted 7.7 percent jump in its Q2 net profit at Rs 32.2 crore versus Rs 29.9 crore and revenue was up 5.9 percent at Rs 233.5 crore versus Rs 220.4 crore, YoY.

    Earnings before interest, tax, depreciation and amortization (EBITDA) rose 1.6 percent at Rs 38.4 crore and margin at 16.5 percent versus 17.2 percent, YoY.

    VST Tillers Tractors was quoting at Rs 2,971.25, up Rs 78.75, or 2.72 percent.

  • November 09, 2021 / 03:15 PM IST

    Mahindra Logistics acquires 100% paid-up share capital of Meru Mobility Tech

    Mahindra Logistics entered into Share Purchase Agreement to acquire 100% paid-up share capital of Meru Mobility Tech Private Limited (MMTPL), V-Link Automotive Services Private Limited (VASPL), and V-Link Fleet Solutions Private Limited (VFSPL) from Meru Travel Solutions Private Limited (MTSPL), a fellow subsidiary of the company; and to acquire 100% paid-up share capital of MTSPL from Mahindra & Mahindra.

    Upon completion of the said acquisitions, MMTPL, VASPL, VFSPL and MTSPL will become wholly-owned subsidiaries of the company and would continue to remain subsidiaries of M&M.

    Mahindra Logistics was quoting at Rs 708.10, up Rs 4.15, or 0.59 percent.

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