Live Stock Market Updates: Bank Stocks Push Sensex Above 61K; larger markets are underperforming; real estate, computer indices tumble by more than 1% each
After a volatile start, benchmarks gained ground to trade on a solid basis thanks to gains in banking stocks. A good start to European markets also helped market sentiment. BSE Sensex recovered 61,000 points and rose 291 points or 0.48% to 61,113. Meanwhile, NSE Nifty traded 18,169, 55 points or 0.3% more. ICICI Bank, Axis Bank and SBI were the main contributors to Sensex. Larger markets, on the other hand, were languishing with the BSE Midcap and Smallcap indices falling more than 1% each. Nifty Bank hit a new 52 week high. Real estate and IT meters were not at their low for the day but were still down 1% and the worst losers.
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TVS Motor partners with Bahwan International Group to strengthen its presence in Iraq
Price as of October 25, 2021 13:48Click on the names of the companies for their live prices.
M&M, Tech Mahindra among seven buying ideas for the coming weeks
While benchmark stock indexes underwent a correction last week due to aggressive profit taking by retail investors and high net worth investors, the market still offers entry points for investors in certain stocks. Here, analysts have shortlisted seven stocks that offer good entry points for traders in the short to medium term.
European equities advance slightly on support from commodity prices
The pan-European STOXX 600 rose 0.02% at 07:07 GMT, after its Asian peers made small gains.
Mining and energy stocks climbed 1% and 0.7%, respectively, boosted by oil prices to multi-year highs and rising copper prices as stocks in Shanghai exchange warehouses fell to their lowest level in over 12 years.
Will ICICI Bank continue to outperform its peers?
HDFC Bank is a purely banking story as most of HDFC’s subsidiaries depend on it. While the history of ICICI bank is distinct. Its subsidiaries – be it insurance subsidiaries, securities, AMCs – are all doing very well and that will add substantial value to the bank and it has added value to the bank. The valuation gap should continue to narrow between ICICI Bank and other banks such as HDFC Bank or Kotak Bank. I guess the case for ICICI to outperform isn’t diminishing, it’s actually getting stronger.
ICICI Bank overtakes HUL to become 5th largest company by m-cap
Nifty Bank jumps 3% to new high in 52 weeks
YES Banking profit up 74% but analysts recommend âsellingâ; here’s why
YES Bank’s 74 percent profit rise in the September quarter did not allay analyst concerns, especially those about non-performing assets, restructurings and below-average yield ratios. Analysts said the asset issues are unlikely to resolve in the near term and found the risk / reward ratio unfavorable, leaving their âsellâ ratings on the stock intact.
Deepak Fertilizers and Petrochemicals Raises Rs 5.1 Billion Through Sale of Shares
Price as of October 25, 2021 11:58 amClick on the names of the companies for their live prices.
Tatva Chintan Pharma Jumps 17%, Reaches 52-Week High in Strong Second Quarter Issue
Shares of recently listed Tatva Chintan Pharma Chem climbed 17% to a new 52-week high of Rs 2,488.90 in Monday’s trading after the company reported a strong performance for the September quarter 2021. The specialty chemicals and API maker reported an 811% year-over-year increase in its consolidated net profit to Rs 32.4 crore. On a sequential basis, the company’s net profit increased 40 percent.
Sensex up 170 points, looks set to recover 61K
A distinct trend in the market for many sessions has been the outperformance of Bank Nifty which was up 2.5% last week while Nifty was down 1.2%. This outperformance is justified by the banking results to date and the trend could continue because there is a comfort of valuation in the banking segment in an otherwise overvalued market. So even if the market becomes weak, the banking sector can be resilient. The threat to the bulls is likely to come from the FIIs who have become sustained sellers. The second quarter results so far look impressive, especially in the energy, metals, mining, IT and banking sectors. The resurgence of Covid cases in eastern parts, particularly West Bengal, needs to be watched.
– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Sovereign Gold Bond Opening Today: Why It’s Time To Increase Allocation
Investors could increase their exposure to gold with the next tranche of gold sovereign bonds starting on Monday. With inflationary pressures set to cause uncertainty in equities, investment advisers suggest investors should increase their gold allocation to 15% of their portfolio.
Gold price today: the yellow metal is holding up
MCX gold futures rose 0.13% or Rs 64 to Rs 47,861 per 10 grams. Silver futures rose 0.41% or Rs 271 to Rs 65,926 per kg. Concerns about global inflation and the renewal of Covid-related restrictions in Russia and parts of Europe may add a risk premium to prices.
Top Sensex flirting: RIL, HDFC Bank, Infosys
Most active actions on NSE when opening transactions
Price as of October 25, 2021 09:27Click on the names of the companies for their live prices.
Best Sensex winners and losers at tick opening
– Most Sensex shares in the red; Asian paintings down 3%; ICICI Bank up 7%
OPENING BELL: Sensex wins 70 points, Nifty above 18,100
SGX Nifty signs a flat start
Domestic stock markets are expected to start the new week on a flat note, thanks to mixed indices from Asian peers. US stocks mostly settled lower over the weekend. Firm crude is likely to add pressure on the domestic currency and REIT outflows. Back home, traders will react to second quarter earnings from RIL and other key companies. Here is the detail of the actions prior to marketing:
SGX Nifty loses 11 points
Shrewd futures on the Singapore Stock Exchange traded just 11 points, or 0.06%, up to 18,155.50, signaling that Dalal Street was heading for a soft start on Monday.
Tech View: Nifty Forms Higher High-Low Pattern on Weekly Scale
Nifty50 Friday fell for the fourth consecutive session. The index has formed a bearish candle on the daily and weekly charts. But as the index made highs-lows lower on the daily chart, it formed a high-low pattern higher on the weekly scale.
India VIX relaxed
The fear gauge fell 3% to 17.54 on Friday from its close of 18.04 on Thursday.
Asian stocks traded mixed
Asian stocks opened mostly lower before giving mixed signs on Monday as investors wait for corporate earnings and the upcoming general election in Japan. The MSCI index of Asia-Pacific stocks outside Japan lost 0.13%. Japan’s Nikkei fell 0.71%. South Korea’s Kospi added 0.14%. Australia’s ASX 200 gained 0.53%.
End of mixed actions on Wall Street
Wall Street closed a choppy trading day on Friday with a patchy finish for major stock indexes, as losses from several large tech companies weighed on the market. Investors became nervous as Federal Reserve Chairman Jerome Powell discussed the reduction in stimulus measures.
The dollar has remained stable
The dollar stabilized on Monday after its biggest weekly loss in more than a month, as traders assess the effect of inflation on the relative pace of impending rate hikes – with a cautious eye on data from growth and a meeting of the European Central Bank. The dollar index moved up to 93.625 The euro edged down to $ 1.1643 The pound rose to $ 1.3772 The yen held steady at 113.54 per dollar The yuan was stable at 6.385 against the green ticket
Rising crude oil prices
Oil prices rise in tight market Oil prices rose on Monday, extending pre-weekend gains as US crude hits a seven-year high as global supply remains tight amid strong global demand as economies recover from collapses induced by the coronavirus pandemic. Brent crude futures rose 26 cents, or 0.3%, to $ 85.79 a barrel at 0048 GMT. US West Texas Intermediate (WTI) crude futures rose 48 cents, or 0.6%, to $ 84.24 a barrel.
REIT withdrew Rs 2,331 cr in October from shares
Net-net, foreign portfolio investors (REITs) turned sellers of domestic stocks to the tune of Rs 2,697.7 crore, according to data available from NSE. DII transformed net buyers to the tune of 1,029.97 crore, the data shows. From the shares, REITs have so far withdrawn Rs 2,331 crore.
T2 profits Today’s profits
Tech Mahindra, Indus Towers, SRF, HDFC Assest Management Company, Coforge, Colgate Palmolive, Icra, Kansai Nerolac Paints, The Ramco Cements, Aditya Birla Sun Life AMC, Home First Finance Company India, CEAT and CSB Bank are among the companies that advertise today their results for the September quarter.
INR ended lower on Friday
The rupee edged down 3 peas to settle at 74.90 against the US dollar on Friday, weighed down by a moderate trend in domestic stocks and firm crude oil prices.
10-year bonds rose
The 10-year Indian bond jumped 0.41% to 6.36 after trading in a range of 6.34 to 6.37 on Friday.
The weighted average overnight call rate stood at 3.33% on Friday, according to RBI data. It has evolved in a range of 2.00 to 3.45 percent.