Sensex Today Live Updates: After a softer-than-expected US inflation data raised hopes of less aggressive rate hikes by the US Federal Reserve, benchmark equity indices opened higher on Friday. Buying was seen across all sectors. The BSE Sensex was trading 984 points or 1.62% higher at 61,598. Nifty50 was trading at 18,302, up 274 points or 1.52%.“It was well known that the crucial US inflation numbers for October will sway the market either up or down depending on the trajectory of inflation. Now that the inflation print – both CPI and core- has come below expectations, the direction of the markets is a foregone conclusion,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.“Since the CPI and core print indicate moderation of inflation, it is probable that the Fed might pause after one more hike of 50 bp. This is good news for global equity markets,” Vijayakumar added.Among Sensex stocks, Wipro, Tech Mahindra, Infosys, HCL Tech, IndusInd Bank, Tata Steel, TCS and Bajaj Finserv were the top gainers, rising around 2-3.5%. Bajaj Finance, L&T, Titan, SBI, UltraTech Cement, ICICI Bank and Maruti also opened higher.Sectorally, the Nifty IT advanced 2.94% and Nifty PSU Bank surged 1.63%. Nifty Financial Services and Nifty Auto also opened higher. Whereas in the broader market, Nifty Midcap50 rose 1.02% and Smallcap50 advanced 1.06%.
!1 New UpdateClick here for latest updates
From the last couple of trading sessions, the market was in a cautious mood and was waiting for a crucial US inflation print for October. On the positive side, the inflation print was cooler than the expected number triggering a rally in equity markets, across the world, including our domestic market. This led to the conclusion that inflation in the US market has peaked, and the US FED may pause the aggressive stance on the rate hikes soon. The market is not very far from an all-time high. Quarterly results have largely been in line with expectations. In the last year, the Indian market had a 92% correlation with the global market. Thus, a new market high cannot be ruled out if global markets are supporting it. Investors need to be patient in this market and invest in a staggered manner. Also, investing in dips will work well in this market. We recommend investors build a position in quality companies (where the earnings visibility is very high) with an investment horizon of 12-18 months.
– Naveen Kulkarni, Chief Investment Officer, Axis Securities
Germany-based Mutares SE & Co will acquire 80 per cent controlling stake in Mahindra & Mahindra’s French unit Peugeot Motocycles. In a statement, the Mumbai-based auto major on Thursday said Mutares has submitted an irrevocable binding offer to acquire 50 per cent of equity and a controlling stake of 80 per cent in France-based Peugeot Motocycles (PMTC).
Price as on 11 Nov, 2022 12:20 PM, Click on company names for their live prices.
TaMo’s numbers were subdued in the quarter. Volume growth in JLR was not very strong. Weakness is seen in European markets, while margins are impacted by unfavorable currency, higher input costs, marketing spends etc. Domestic numbers were good with both CV and PV segments performing well. But overall numbers still show room for improvement. We remain Neutral on the stock.
– Ashwin Patil, Senior Research Analyst at LKP Securities
M&M earnings | PAT at Rs 2089 cr vs ET NOW poll of Rs 1875.2 cr
Market LIVE Updates: New-age tech stocks rally up to 15%
Price as on 11 Nov, 2022 11:27 AM, Click on company names for their live prices.
A day after the stock started trading ex-bonus, FSN E-Commerce Ventures, which runs fashion and beauty products e-retailer Nykaa, on Friday rallied over 19% to hit day’s high of Rs 224.45. The timing of the ex-bonus date coincided with the expiry of the mandatory one year lock-in period for pre-IPO investors yesterday.
Price as on 11 Nov, 2022 11:15 AM, Click on company names for their live prices.
The Indian Hotels Company reported a consolidated profit after tax (PAT) of Rs 129.59 crore for the September quarter following growth in travel demand. The company has posted a loss of Rs 130.92 crore during the corresponding quarter in the previous financial year.
Price as on 11 Nov, 2022 10:50 AM, Click on company names for their live prices.
Tata Play may be first Indian co to file confidential filing with Sebi for IPO
Tata Play (formerly Tata Sky) is set to become one of the first Indian companies – if not the first – to file a confidential pre-filing of offer documents for initial public offering (IPO), possibly in the next fortnight, multiple people said. Stock market regulator Sebi is expected to issue guidelines on confidential IPO pre-filing – allowing pre-filing sans public announcement to help safeguard sensitive business information of issuers – in the next 7-10 days, legal experts said.
Trent, the Tata Group retail arm. reported an on-year 41 per cent jump in standalone net income at Rs 193 crore in the September quarter, driven by robust revenue. Revenue, including GST, rose 78 per cent to Rs 1,929 crore, which is the highest ever for a quarter.
Price as on 11 Nov, 2022 10:44 AM, Click on company names for their live prices.
DCX Systems makes a strong Dalal Street debut, lists at 39% premium
DCX Systems made a strong debut on Dalal Street as its shares got listed at Rs 286.25 on Friday, a premium of 39% over its issue price of Rs 207 on BSE. The manufacture of electronic sub-systems and cable harnesses debuted at a premium of 38% at Rs 287 as against the given issue price on the National Stock Exchange (NSE).
Steel Authority of India, the state-owned metal player, posted a consolidated loss of Rs 329 crore during the quarter ended on September 30, 2022. It had clocked Rs 4,338.75 crore net profit during the July-September period of the preceding fiscal.
Price as on 11 Nov, 2022 10:38 AM, Click on company names for their live prices.
Rupee eyes biggest gain since late 2018 on rising bets of Fed pivot
The Indian rupee surged more than 1% on Friday, as the dollar plummeted after U.S. inflation data came in cooler than expected, raising hopes that the Federal Reserve would consider pivoting from its hawkish monetary policy stance. The rupee was stronger at 80.80 per dollar, compared to its previous close of 81.8075. The last time the currency traded in the 80-per-dollar-handle was seven weeks ago. If the rupee keeps up this rally, it will notch its biggest intraday percentage gain since December 2018.
Three entities- Lighthouse India Fund III, Mala Gopal Gaonkar and Narotam S Sekhsaria- offloaded 2,84,34,390 shares of Nykaa’s parent firm FSN E-Commerce Ventures at an average price of Rs 171.75-Rs 173.70 apiece, for Rs 491.35 crore through open market transactions, as per the bulk deal data available with the NSE and BSE. Stock trending 14% up
Price as on 11 Nov, 2022 10:20 AM, Click on company names for their live prices.
Cipla MD & Global CEO Umang Vohra in conversation with ET Now
#MEGAExclusive | Prescription for @Cipla_Global 2.0! ET NOW's Managing Editor @nikunjdalmia caught up with the comp… https://t.co/U80Zyv88q4
— ET NOW (@ETNOWlive) 1668141923000
Over 8.5 million jobs added during Sept-Oct 2022: CMI
Over 8.5 million salaried jobs were added during September and October 2022 taking the total number of salaried workers in the country to 85-86 million with highest addition in urban salaried jobs, the Centre for Monitoring Indian Economy said. This is higher than the pre-pandemic levels and comes after a gap of 32 months when the pandemic induced lockdown had pulled down the number of salaried workers to 65 million by August 2020.
NIFTY IT INDEX IN FOCUS
#StocksInFocus | Nifty IT Index surges ~4%; Biggest single day gain since Sep 14, 2020 #NiftyIT #StockMarket… https://t.co/Yz2jhnC2cb
— ET NOW (@ETNOWlive) 1668140291000
PSU banks have a mixed fortune after surging for days
Price as on 11 Nov, 2022 10:02 AM, Click on company names for their live prices.
RIL, Adani JV, 13 others put in EoIs for Future Retail
Reliance Industries (RIL) and an Adani Group joint venture are among 15 entities that have submitted expressions of interest (EoIs) for Future Retail, which is undergoing insolvency resolution, two senior industry executives said. RIL has also sent a notice to the resolution professional (RP), claiming about Rs 5,300 crore as money owed by the Future Group flagship, they said. EoIs have also come in from DS Group, Dickey Alternative Investment Trust, SNVK Hospitality, Capri Global, a B Right Real Estate-Ayekart Fintech consortium, WHSmith Travel, United Biotech, Bommidala Enterprises, Nalwa Steel and Power, Gordon and Payard, UV Multiple Asset Investment Trust, Shalimar Corporation and a consortium led by Bhumireddy Gari Mohan Reddy
The auto component major Samvardhana Motherson International said its consolidated net profit surged more than three-fold to Rs 288 crore in the second quarter ended September, aided by strong sales across business verticals. The company had reported a net profit of Rs 93 crore for the July-September period of last year.
Price as on 11 Nov, 2022 09:58 AM, Click on company names for their live prices.
As indices zoom; Nifty IT joins the party, surges 4%
Price as on 11 Nov, 2022 09:54 AM, Click on company names for their live prices.
Sensex rallies 1,000 points as softer US inflation data bolsters sentiments
Eicher Motors’ consolidated profit after tax increased 76 per cent to Rs 657 crore in September quarter, aided by brisk sales across domestic and international markets. The company had reported a net profit of Rs 373 crore for July-September 2021-22.
Price as on 11 Nov, 2022 09:41 AM, Click on company names for their live prices.
Apollo Hospitals’ consolidated net profit declined 20 per cent to Rs 213 crore in the second quarter ended September. It had reported a net profit of Rs 267 crore in the July-September period of previous fiscal.
Price as on 11 Nov, 2022 09:35 AM, Click on company names for their live prices.
Stocks in focus: Alkem Labs, Ashok Leyland, eClerx and more
Zomato, the online food delivery platform reported narrowing of its consolidated net loss to Rs 250.8 crore for the second quarter ended September 2022. The company’s consolidated net loss stood at Rs 434.9 crore in the year-ago period.
Price as on 11 Nov, 2022 09:31 AM, Click on company names for their live prices.
MARKET VIEW: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Since dollar is weakening, FIIs are likely to increase their buying and with Monthly SIP figure crossing Rs13000 crores, DIIs too will have to deploy the inflows. In brief, it is Advantage Bulls for the near- term. New record for the Nifty is only a question of when.
OPENING BELL: Sensex surges 850 points, Nifty near 18,300; Zomato jumps 7%, Apollo Hospitals 2%
Pre-open session: Sensex surges over 500 points; Nifty above 18,220
RUPEE GAINS PAST 81 PER DOLLAR; AT HIGHEST LEVEL SINCE SEPT
MSCI semi-annual review: Catch all the details here
#MarketsWithETNOW | MSCI semi-annual review: Six stocks added and none deleted from the India index The additions… https://t.co/9GqJd8YzGt
— ET NOW (@ETNOWlive) 1668137456000
Rupee seen surging above 81/USD on rising bets of Fed pivot
The Indian rupee is expected to jump against the dollar on Friday, after softer-than-expected U.S. inflation prompted bets that the Federal Reserve will pivot to a slower pace of rate hikes. The rupee is tipped to open at around 80.70-80.80 per U.S. dollar, its highest level in almost seven weeks and up from 81.8075 in the previous session.
MSCI announces semi-annual changes effective from December 1, 2022
#MarketsWithETNOW | MSCI announces semi-annual changes effective from December 1, 2022 Take a look at the addition… https://t.co/fnPQN7foGd
— ET NOW (@ETNOWlive) 1668131813000
Asia stocks surge as cooling inflation feeds hopes Fed will ease up
Asian shares spiked higher on Friday, while the dollar nursed steep losses after a smaller-than-expected increase in U.S. consumer prices fuelled hopes that the Federal Reserve could tone down its aggressive pace of interest rate hikes.
Oil crawls higher on U.S. hopes, but COVID rise in China caps gains
Oil prices rose on Friday as fears of a U.S. recession eased but were on track for weekly declines of more than 4% after a jump in COVID-19 cases in top oil importer China raised the spectre of weaker fuel demand. Brent crude futures were up 23 cents, or 0.3%, to $93.80 a barrel at 0101 GMT, extending a 1.1% rise in the previous session.
Quarterly earnings today
LIC, Mahindra & Mahindra, Adani Power, Hindalco Industries, Hindustan Aeronautics, Hindalco Industries, ABB India, Zydus Lifesciences and Hindustan Aeronautics are among companies that will announce their quarterly earnings today.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 299 points, or 1.65 per cent, higher at 18,396, signaling that Dalal Street was headed for a positive start on Friday.
Tech View: Nifty forms bearish candle on daily charts
Nifty formed a small-bodied bearish candle on the daily frame and negated its higher highs formation of the last three sessions but managed to hold on to the psychologically-crucial 18,000 level.
Tokyo shares open higher after US rebound
Tokyo stocks opened higher on Friday as investors cheered rallies on Wall Street driven by hopes for slower Fed rate hikes due to the slowing speed of US inflation. The benchmark Nikkei 225 index jumped 1.43 percent, or 393.32 points, to 27,839.42 in early trade, while the broader Topix index rose 1.31 percent, or 25.42 points, to 1,962.08.
Wall Street ends sharply higher on sign of cooling inflation
The S&P 500 and Nasdaq jumped on Thursday, racking up their biggest daily percentage gains in over 2-1/2 years as a sign of slowing inflation in October sparked speculation the Federal Reserve might become less aggressive with interest rate hikes.
Rupee strengthens for 4th day, rises 7 paise to 81.40/USD
The rupee clawed back intra-day losses to close 7 paise higher at 81.40 against the US dollar on Thursday amid persistent foreign fund inflows and softer crude oil prices.
Sensex, Nifty on Thursday
The 30-share Sensex ended 420 points lower at 60,614 while its broader peer Nifty 50 ended at the 18,000 level.
Good morning, dear reader! Here’s something to kickstart your trading day
Credit: Source link