| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 83,535.35 | 319.07 | +0.38% |
| Nifty 50 | 25,574.35 | 82.05 | +0.32% |
| Nifty Bank | 57,937.55 | 60.75 | +0.10% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Infosys | 1,513.50 | 36.70 | +2.49% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Trent | 4,283.70 | -343.60 | -7.43% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 35688.30 | 570.70 | +1.63% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 8340.70 | -11.45 | -0.14% |
On the daily chart, the Nifty made a bullish harami pattern, suggesting a rise in optimism. Besides, the index has found support at 200DMA for the second consecutive day. The daily RSI is in a bullish crossover.
Over the short term, the index may remain within a band. On the lower end, 17000 may act as support; whereas, 17300 may act as resistance on the higher end.
Markets rebounded after the recent slide and gained nearly a percent amid mixed cues. After the initial uptick, Nifty drifted lower in the early hours however recovery in select index majors across sectors gradually pushed the index higher as the session progressed.
It finally settled around the day’s high to close at 17,123.6 levels. On the sectoral front, banking, FMCG and energy were among the top gainers while pharma and metals traded subdued.
We feel it’s just a respite in a corrective phase and the tone would remain negative until Nifty decisively reclaims 17,400 levels. Amid all, the buoyancy in the banking space is capping the damage so far while others are seeing a mixed trend. We feel it’s prudent to stay light in the prevailing scenario and keep the existing positions hedged.
Bears took a breather today as markets witnessed a relief rally after getting hammered in the past few sessions. However, the recovery doesn't seem to be sustainable as multiple negative factors are at play.
Technically, the Nifty took support near the 200-day SMA (Simple Moving Average) and bounced back sharply. As long as the index is trading above 17000 mark, the pullback formation is likely to continue. Above the same, the index may touch the level of 17,225-17,275. On the flip side, below 17,000, the index could slip till 16,900.
IT services major Wipro Ltd on October 12 said its consolidated net profit for the quarter ended September 30, 2022 fell 9.27 percent to Rs 2,659 crore from Rs 2,930 crore in the year-ago period.
The Bengaluru-based company's revenue from operations stood at Rs 22,539.7 crore, a 14.60 percent growth over Rs 19,667.4 crore in the previous year.
The domestic market was successful in overcoming the weak cues from global peers as it focused on quarterly earnings. The IT earnings season got off to a strong start, which improved the sector's spirits.
In the midst of escalating geopolitical unrest and the prospect of a worldwide economic downturn as the IMF revised down its forecast for global growth, European markets continued to slide.
At the same time, oil prices dropped due to sluggish demand amidst recession fears and tightening curbs in China, which was taken positively by the domestic market.
Indian rupee ended flat at 82.31 per dollar against previous close of 82.32.
Benchmark indices broke three-day losing streak on October 12 with Nifty closing above 17100.
At Close, the Sensex was up 478.59 points or 0.84% at 57,625.91, and the Nifty was up 140.10 points or 0.82% at 17,123.60. About 1615 shares have advanced, 1727 shares declined, and 133 shares are unchanged.
Power Grid Corporation, Axis Bank, Coal India, Bajaj Auto and NTPC were among the top Nifty gainers. Asian Paints, Adani Enterprises, Dr Reddy's Labs, Bharti Airtel and ICICI Bank were the top losers.
All the sectoral indices ended in the the green.
BSE midcap index rose 0.6 percent and smallcap index added 0.2 percent.
Morgan Stanley has remained overweight on Sobha due to Inexpensive valuations with a target at Rs 1,024 per share.
The key themes include pick-up in new launches & sustaining high pace of new sales. The cash from operations will be used for new projects acquisitions as well as de-leveraging, reported CNBC-TV18.
PPFAS Mutual Fund has bought 5 lakh equity shares in Motilal Oswal Financial Services via open market transactions at an average price of Rs 703 per share.
However, John Hancock Funds II International Value Fund was the seller for those shares at same price.
Motilal Oswal Financial Services was quoting at Rs 702.55, up Rs 4.85, or 0.70 percent.
Research firm Nomura has kept buy rating on Tata Motors with a target at Rs 520 per share.
Nomura expect Tiago EV to sell 3,000-5,000 units per month.
Every 1 percent market share gain in PVS has potential to add Rs 5000 crore to market-cap, reported CNBC-TV18.
Tata Motors was quoting at Rs 396.60, up Rs 3.30, or 0.84 percent on the BSE.
Brokerage firm Morgan Stanley has kept overweight rating on the stock with a target at Rs 1,550 per share.
The sudden departure of Ravi Kumar comes as a negative surprise, however, do not expect any disruption in business momentum.
See potential for a buyback of USD 1-1.4 billion, more likely through an open offer.
The buyback could lend some support to stock in a volatile macro environment, reported CNBC-TV18.
Infosys was quoting at Rs 1,427.00, up Rs 3.10, or 0.22 percent on the BSE.
Goldman Sachs Investment (Mauritius) I acquired 69,66,712 equity shares in IndusInd Bank via open market transactions at an average price of Rs 1,167.53 per share.
However, Route One Fund I LP sold 1.2 crore shares at an average price of Rs 1,168.26 per share.
IndusInd Bank was quoting at Rs 1,188.00, up Rs 23.60, or 2.03 percent.
