Ajit Mishra, VP - Research, Religare Broking Ltd
Markets witnessed a rebound and gained nearly one and a half percent, taking a breather after the recent fall. Upbeat global cues triggered a firm start however profit taking at the higher levels capped the upside. However, the news of GST collection reaching closer to record high fueled fresh momentum in the latter half, which further strengthened with recovery in select index majors.
Finally, Nifty closed around the day’s high to settle at 17,929 levels. Mostly sectoral indices participated in the move wherein metal, realty and IT were among the top gains.
In line with the move, the market breadth was also inclined towards the advancing side.
We feel it’s a rebound and the bias would change if Nifty manages to cross and hold above 18,100. Meanwhile, participants should continue with the cautious approach and do not jump into a trade. The upcoming US Fed meet and earnings will dictate the trend ahead.
Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:
The USDINR spot closed flat at 74.86 as heavy FPI flows into the IPOs was offset by rising US Dollar Index and suspected RBI intervention.
USDINR is expected to remain rangebound in a holiday-shortened week. However, bias will be down due to the rise in equity markets and primary market inflows. We expect a range of 74.70-75.20 on spot over the near term.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas
The Nifty witnessed a sharp bounce today post a short term decline in the last couple of weeks. The hourly chart shows that the index had formed a base triangle on October 29. The pattern broke out on the upside today & the Nifty witnessed follow through on the upside.
The hourly momentum indicators that were pushed into the oversold zone assisted the pullback. Consequently, the Nifty is now heading towards the 18000 mark, which is a key level to watch out for.
If the bulls manage to cross that level on a closing basis then the short term range will again shift higher.
Beyond 18000, a falling trendline near 18180 will be the subsequent level to watch out for. On the downside, 17850-17800 will act as an immediate support zone.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:
Today's rally came as a major relief as bears had been gaining strength over the past few sessions. The recovery was also aided by favorable global market sentiment, which triggered frenzied buying here.
Benchmark Nifty opened with a gap up and in the late afternoon cleared the intraday resistance of 17800. Technically, the index has completed one leg of a pullback rally, and now 18000 and 18050 would act as a crucial resistance level. The index has formed a strong bullish candle but the key concern is it is still trading below 20 days SMA.
We are of the view that the intraday texture of the market is bullish but traders may prefer to take a cautious stance between 17975-18020 levels. As long as the index is trading above the level of 17800, the uptrend texture is intact. For bulls, the 17850-17800 level could be the strong support zone and below the same, the uptrend would be vulnerable.
Vinod Nair, Head of Research at Geojit Financial Services:
Domestic indices bounced back on a positive footing from the recent sell-off, due to strong momentum in global markets, favourable domestic economic data and good Q2 results announcement.
India’s manufacturing PMI increased to 55.9 in October from 53.7 in September as output and new orders improved amid easing Covid restrictions.
The sustenance of the trend will depend on the views provided by Fed regarding the current easy money policy to be announced on Wednesday.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
The Nifty has risen smartly to get past the 17900 level. If we can keep above this level for a couple of trading sessions, the uptrend should resume and take the index higher.
On the downside, 17550-17600 has become a good support for the markets and until that does not break on a closing basis, it is safe to assume that the trend continues to remain on the upside.
Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research:
The market witnessed some swift recovery from the support levels of 17600. Our research suggests, a significant breakout above the levels of 18000 could result in improvement of market breadth and market can rally till the levels of 18250.
We retain our cautious stance and advise the traders to refrain from building a fresh buying position, until we see further improvement and market sustain above 18000.
S Ranganathan, Head of Research at LKP securities:
The month began on a volatile note till the bulls wrested the initiative on the back of buoyant PMI data & GST collections for last month.
Despite the trends in e-way bills pointing towards higher GST collections in October ahead of festive demand, supply constraints in the automotive sector kept the street cautious.
Market Close
: Benchmark indices ended higher with Nifty closing above 17900 supported by the rally in the metal, IT, realty stocks.
At close, the Sensex was up 831.53 points or 1.40% at 60,138.46, and the Nifty was up 258 points or 1.46% at 17,929.70. About 2099 shares have advanced, 1129 shares declined, and 186 shares are unchanged.
IndusInd Bank, Hindalco Industries, HCL Technologies, Bharti Airtel and Grasim Industries were among the major Nifty gainers. Losers included UPL, Bajaj Finserv, M&M and Nestle India.
All the sectoral indices ended in the green with metal, IT and realty indices up 2-3. BSE midcap and smallcap indices rose over 1 percent each.
Tata Motors total sales up 30% to 67,829 units in October
Tata Motors said its total wholesales increased by 30 percent to 67,829 units in October as compared with the same period last year.
The company’s total dispatches in October 2020 stood at 52,132 units.
The company’s domestic sales increased by 31 percent to 65,151 units in October as compared to the same month last year.
The company had dispatched 49,669 units in October 2020.
NMDC October production up 37% at 3.33 mt:
NMDC in the month of October reported total production at 3.33 mt versus 2.43 mt, a growth of 37%, YoY.
October sales were up 42% at 3.58 mt versus 2.52 mt, YoY.
NMDC was quoting at Rs 145.85, up Rs 2.80, or 1.96 percent.
NCC receives one new order for Rs 442 crore in October 2021
NCC has received one new order for Rs 442 crore (exclusive of GST) in the month of October, 2021. This order pertains to Mining Division and is received from a State Government agency and does not include any internal order.
NCC was quoting at Rs 72.35, up Rs 1.10, or 1.54 percent.
Fino Payments IPO subscribed 78% on Day 2 of bidding
The initial public offering of fintech company Fino Payments Bank had been subscribed 78 percent by the afternoon of November 1, the third day of bidding, with investors putting in bids for 89.96 lakh shares against the IPO size of 1.14 crore shares.
The total offer size for public has been reduced to 1.14 crore equity shares from 2.09 crore shares after the company garnered Rs 538.78 crore from anchor investors on October 28.
Retail investors have bought 4.21 times the portion reserved for them, with employees bidding for 22,000 shares.
Nifty Auto index gained 1 percent supported by the Bosch, Exide Industries, Eicher Motors
Punjab & Sind Bank Q2
Punjab & Sind Bank has reported net profit of Rs 218.3 crore versus loss of Rs 401.3 crore and Net interest income (NII) was up 0.6% at Rs 617.1 crore versus Rs 613.4 crore, YoY.
Gross NPA was at 14.54 percent versus 13.33 percent and net NPA was at 3.81 percent versus 3.61 percent, QoQ.
unjab & Sind Bank was quoting at Rs 18.30, up Rs 0.50, or 2.81 percent.
October GST collections Rs 1.30 lakh crore:
Goods and Service Tax (GST) collections for October, the beginning of a demand-boosting festive season, came in at Rs 1.30 lakh crore, compared with Rs 1.17 lakh crore in September, indicating strengthening economic recovery in the second half of the fiscal year 2021-22.
October GST collections were not only the second highest for the fiscal year, but the second highest monthly collections since the introduction of the nationwide tax in 2017. The highest ever was also this year, at Rs Rs 1.41 lakh crore in April.
The October GST print takes total gross GST collection for the year to Rs 8.12 lakh crore. All but one month in the current fiscal year (June, Rs 92,849 crore) have been comfortably above the Rs 1 lakh crore mark.
Market at 3 PM
Benchmarks indices extended the gains in the final hour and trading near the day's high level.
The Sensex was up 785.45 points or 1.32% at 60092.38, and the Nifty was up 247.10 points or 1.40% at 17918.80. About 1983 shares have advanced, 1095 shares declined, and 143 shares are unchanged.
IndusInd Bank, Bharti Airtel, HCL Tech, Grasim and Tata Steel were among the top gainers on the Nifty, while UPL, M&M, Bajaj Finserv, Nestle and Tata Motors were among major losers.
HDFC Q2 net profit up 31.7% at Rs 3,780.5 crore
Housing Development Finance Corporation (HDFC) has posted 31.7 percent jump in its Q2 net profit at Rs 3,780.5 crore versus Rs 2,870.1 crore, YoY
Net interest income (NII) was up 12.7% at Rs 4,108.5 crore versus Rs 3,646.5 crore, YoY.
Housing Development Finance Corporation was quoting at Rs 2,900.85, up Rs 57.05, or 2.01 percent on the BSE.
Fino Payments IPO subscribed 77% on Day 2 of bidding
The initial public offering of fintech company Fino Payments Bank had been subscribed 77 percent by the afternoon of November 1, the third day of bidding, with investors putting in bids for 87.73 lakh shares against the IPO size of 1.14 crore shares.
The total offer size for public has been reduced to 1.14 crore equity shares from 2.09 crore shares after the company garnered Rs 538.78 crore from anchor investors on October 28.
Retail investors have bought 4.11 times the portion reserved for them, with employees bidding for 21,575 shares.
The portion set aside for non-institutional investors was subscribed 7 percent, while qualified institutional buyers are yet to put in their bids.
SJS Enterprises IPO subscribed 26% on first day
The initial public offering of SJS Enterprises, a “design-to-delivery” aesthetics solutions provider, has been subscribed 26 percent on November 1 morning, the first day of bidding till now.
Investors put in bids for 27.13 lakh equity shares against the IPO size of 1.05 crore equity shares.
Retail investors bought 52 percent of shares against the portion reserved for them.
The portion set aside for non-institutional investors and qualified institutional buyers were yet to be bid for.
SML Isuzu October auto sales:
SML Isuzu has posted 28 percent jump in its total sales at 743 units versus 582 units, YoY.
SML Isuzu was quoting at Rs 710.60, up Rs 7.30, or 1.04 percent on the BSE.
Just in
Coal India October production grew 6.4% at 49.8 mt against 46.8 mt (YoY). October offtake was up 11.8% at 56.7 mt against 50.0 mt.
Rolex Rings Q2:
Profit was up 15.5% at Rs 32.7 crore against Rs 28.3 crore (YoY). Revenue was up 70.7% at Rs 258.5 crore against Rs 151.4 crore (YoY). EBITDA jumped 110.1% at Rs 57.1 crore against Rs 27.2 crore (YoY). EBITDA margin at 22.1% against 18% (YoY).
Mahindra & Mahindra October sales
Total sales went down 5.5% at 41,908 units against 44,359 units (YoY). Total tractor sales grew 1% at 47,017 units against 46,558 units (YoY). Domestic tractor sales slipped 0.4% at 45,420 units against 45,588 units (YoY). Exports grew 65% at 1,597 units against 670 units (YoY).
Market update at 2 PM:
Sensex is up 757.88 points or 1.28% at 60064.81, and the Nifty surged 240.30 points or 1.36% at 17912. IndusInd Bank and Bharti Airtel are the top gainers while SAIL, IRCTC and Tata Motors are the most active stocks.
Among the sectors, realty, IT and metals added 2-3 percent each while the midcap and smallcap indices are also trading in the green.
LPG Price Hike
Commercial cooking gas price on November 1 was increased by Rs 266 with immediate effect. With the latest price hike, the price of a 19 kg commercial liquefied petroleum gas (LPG) cylinder will now cost Rs 2000.50 in Delhi. However, the price of domestic cylinders remains the same.
The cylinders were earlier priced at Rs 1,734 each in the national capital, news agency ANI reported. In Mumbai, the price of a commercial LPG cylinder is now Rs 1,950. In Kolkata, it is of Rs 2,073.50, while in Chennai now a 19 kg cylinder will be available for Rs 2,133.
LPG rates for domestic cylinders were last hiked by Rs 15 each on October 6, taking the total increase in rates since July to Rs 90 per 14.2-kg cylinder.
Power consumption rises 4.8% to 114.37 BU in October
India’s power consumption grew 4.8 per cent in October to 114.37 billion units (BU), indicating a good recovery amid coal shortages at electricity generation plants, according to power ministry data.
Last year in October, power consumption stood at 109.17 BU and in the same period in 2019, it was at 97.84 BU.
During October, the peak power demand met or the highest supply in a day stood at 174.60 GW, higher than 169.89 GW in the same month last year.
The data clearly shows that there is recovery in power consumption as well as demand in the country.
Nykaa IPO subscribed 24 times on final day
The initial public offering (IPO) of Nykaa and Nykaa Fashion operator FSN E-Commerce Ventures was subscribed 24 times by November 1, the final day of bidding of the issue that opened on October 28.
The offer has received bids for 63.63 crore equity shares against an IPO size of 2.64 crore equity shares, as per the subscription data.
Qualified institutional investors (QII) put in bids 18 times the portion set aside for them and non-institutional investors bought 46 times the shares against their reserved portion.
A part set aside for retail investors was subscribed 10 times and that of employees saw 1.64 times subscription.
IRCTC Q2 earnings:
The company has posted Q2FY22 net profit at Rs 158.6 crore against Rs 32.6 crore and revenue was at Rs 405 crore against Rs 88.6 crore, YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was at Rs 211.5 crore versus EBITDA loss of Rs 5.6 crore and margin at 52.2%.
Indian Railway Catering & Tourism Corp was quoting at Rs 862.00, up Rs 16.35, or 1.93 percent.
TCS partners with Celcom for large-scale digital transformation:
Tata Consultancy Services (TCS) is expanding its partnership with Celcom Axiata Berhad (Celcom), a leading telecommunications provider in Malaysia, to transform the latter’s core business support systems (BSS) using TCS HOBS and TCS TwinX hosted on Microsoft Azure.
Tata Consultancy Services was quoting at Rs 3,442.65, up Rs 43.85, or 1.29 percent on the BSE.
Lux Industries Q2 results:
Lux Industries Q2 net profit was up 49.4% at Rs 100.4 crore versus Rs 67.2 crore and revenue was up 24.9% at Rs 627 crore versus Rs 502 crore, YoY.
EBITDA rose 44.1% at Rs 137.1 crore versus Rs 95.1 crore and margin was at 21.9% vs 18.9% (YoY) .
Lux Industries was quoting at Rs 3,814.80, up Rs 256.40, or 7.21 percent on the BSE.
Fino Payments IPO subscribed 75% on Day 2 of bidding:
The initial public offering of fintech company Fino Payments Bank had been subscribed 75 percent by the morning of November 1, the third day of bidding, with investors putting in bids for 85.97 lakh shares against the IPO size of 1.14 crore shares.
The total offer size for public has been reduced to 1.14 crore equity shares from 2.09 crore shares after the company garnered Rs 538.78 crore from anchor investors on October 28.
Retail investors have bought 4.03 times the portion reserved for them, with employees bidding for 21,225 shares.
The portion set aside for non-institutional investors was subscribed 7 percent, while qualified institutional buyers are yet to put in their bids.
SJS Enterprises IPO subscribed 23% on first day
The initial public offering of SJS Enterprises, a “design-to-delivery” aesthetics solutions provider, has been subscribed 23 percent on November 1 morning, the first day of bidding till now.
Investors put in bids for 24.23 lakh equity shares against the IPO size of 1.05 crore equity shares.
Retail investors bought 46 percent of shares against the portion reserved for them.
Bandhan Bank appointed agency bank by RBI to conduct Govt business
The Reserve Bank of India (RBI) has authorised Bandhan Bank as an Agency Bank of the RBI for undertaking Government business.
The appointment would allow Bandhan Bank, one of India’s youngest universal Banks with inclusive banking at its core, to undertake Government business on behalf of the RBI. With this, Bandhan Bank joins ranks with a few other scheduled private sector banks to be empanelled as Agency Banks of the RBI.
Bandhan Bank was quoting at Rs 284.55, down Rs 6.95, or 2.38 percent.
Market at 1 PM
Benchmark indices extended the gain and trading near the day's high.
The Sensex was up 344.59 points or 0.58% at 59651.52, and the Nifty was up 124.80 points or 0.71% at 17796.50. About 1917 shares have advanced, 1104 shares declined, and 128 shares are unchanged.
IndusInd Bank, Bharti Airtel, Grasim, Hindalco and Dr Reddys Labs were among major gainers on the Nifty.
Market update at 1 PM: Sensex is up 338.47 points or 0.57% at 59645.40, and the Nifty jumped 121 points or 0.68% at 17792.70.
Dollar Industries Q2
Consolidated net profit jumped 98.8% at Rs 43.7 crore against Rs 22 crore (YoY). Consolidated net sales spiked 51.8% at Rs 390.7 crore against Rs 257.4 crore (YoY). Consolidated EBITDA surged 84.3% at Rs 64.7 crore against Rs 35.1 crore (YoY). Consolidated EBITDA margin at 16.6% against 13.6% (YoY).
Maruti Suzuki October auto sales
Total sales went down 24.2% at 1.38 lakh units against 1.82 lakh units (YoY). Domestic sales fell 32.4% at 1.17 lakh units against 1.73 lakh units (YoY). Exports at 21,322 units against 9,586 units (YoY).
Ashok Leyland October auto sales
Ashok Leyland has reported 11 percent jump in its total sales at 11,079 units versus 9,989 units and M&HCV sales were up 32% at 6,078 units versus 4,588 units.
LCV sales were down 7% at 5,001 units against 5,401 units.
Ashok Leyland was quoting at Rs 143.85, up Rs 1.45, or 1.02 percent.
All the stocks on Realty index are trading in the green
VST Tillers Tractors October sales numbers
VST Tillers' tractor sales were down 12.6% in October 2921 at 996 units versus 1,139 units in October 2020
The Power Tiller sales were down 21.2% at 1,820 units against 2,310 units, YoY.
VST Tillers Tractors was quoting at Rs 2,856.65, down Rs 47.45, or 1.63 percent on the BSE.
Fino Payments IPO subscribed 68% on Day 2 of bidding:
The initial public offering of fintech company Fino Payments Bank had been subscribed 68 percent by the morning of November 1, the third day of bidding, with investors putting in bids for 77.54 lakh shares against the IPO size of 1.14 crore shares.
The total offer size for public has been reduced to 1.14 crore equity shares from 2.09 crore shares after the company garnered Rs 538.78 crore from anchor investors on October 28.
Retail investors have bought 3.63 times the portion reserved for them, with employees bidding for 19,500 shares.
The portion set aside for non-institutional investors was subscribed 6 percent, while qualified institutional buyers are yet to put in their bids.
SJS Enterprises IPO subscribed 17% on debut day
The initial public offering of SJS Enterprises, a “design-to-delivery” aesthetics solutions provider, has been subscribed 17 percent on November 1 morning, the first day of bidding till now.
Investors put in bids for 17.65 lakh equity shares against the IPO size of 1.05 crore equity shares.
Retail investors bought 34 percent of shares against the portion reserved for them.
The portion set aside for non-institutional investors and qualified institutional buyers were yet to be bid for.
Market at 12 PM
Benchmark indices were trading higher in the afternoon session with Nifty above 17750.
The Sensex was up 264.24 points or 0.45% at 59571.17, and the Nifty was up 97.00 points or 0.55% at 17768.70. About 1862 shares have advanced, 1086 shares declined, and 149 shares are unchanged.
BSE Information Technology index rose 1 percent supported by the Intellect Design Arena, Allsec Technologies, Route Mobile
CDSCO permits Shilpa Medicare to conduct a Phase I human clinical study of recombinant Human Albumin
Shilpa Medicare, via its wholly owned subsidiary, Shilpa Biologicals, has been permitted to conduct a Phase I human clinical study on its flagship novel product – recombinant Human Albumin (NavAlbumin), by the Central Drugs Standard Control Organisation (CDSCO).
Shilpa Medicare was quoting at Rs 598.40, up Rs 14.95, or 2.56 percent.
Eicher Motors October auto sales:
Eicher Motors' total commercial vehical sales for the month of October 2021 were up 38.2% at 5,805 units versus 4,200 units in October 2020.
Sigachi Industries IPO updates
The initial public offering of Sigachi Industries that makes cellulose-based excipients has been subscribed 1.84 times on the first day of bidding till now. Investors have put in bids for 86.90 lakh equity shares against an IPO size of 53.86 crore equity shares on November 1.
Retail investors have bought 3.3 times the shares as against the portion reserved for them. A portion set aside for non-institutional investors has been subscribed 5 percent while Qualified Institutional Buyers (QIBs) are yet to put in bids.
