Stock Market Live Update: Benchmark Indices Ended In Red, Realty & Auto Sector Shines

In the erratic session on November 9, benchmark indices ended down. Sensex ended 140.41 points, or (0.22%) lower at 64,835.20, while Nifty completed 42.30 points, or (0.22%) worse at 19,401.20. Adani Enterprises, HUL, Tata Consumer Products, Adani Ports, and ONGC were the top 5 losers on the Nifty, while M&M, Apollo Hospitals, Coal India, IndusInd Bank, and Power Grid Corporation were the top 5 winners. On the sectoral front, auto and realty were the top gainers whereas FMCG and oil & gas were the worst performers.

Shares of Vodafone Idea soared over 3% in noon trade on November 9 after the Bombay High Court directed the income-tax department to refund Rs 1,128 crore paid by the telecom operator in dues in 2016-17.

Meanwhile, Nifty Bank soared 88 points to 43,747 and Nifty Midcap jumped 174 points to 40,621 in noon trade today.

From the pack of Sensex, shares of M&M, Tata Motors, IndusInd Bank, Maruti Suzuki, and NTPC emerged as the top gainers. Shares of Tech Mahindra, HUL, and Reliance were the laggards in trade today with decline of 1.72% to 0.91%.

Indian indices opened with marginal changes on November 9, influenced by a blend of global signals. The Sensex reflected a decline of 44.12 points or 0.07%, settling at 64,931.49, while the Nifty experienced a dip of 17.00 points or 0.09%, standing at 19,426.50. Among the Nifty's prominent gainers were Adani Ports, M&M, Dr. Reddy's Laboratories, BPCL, and Hero MotoCorp, while Tata Consumer Products, Tech Mahindra, Bharti Airtel, HDFC Bank, and HUL were notable among the losers. The market saw 1434 shares advancing, 586 shares declining, and 114 shares maintaining their position.

As the market inches towards the end of the week, the Nifty 50 index maintains a steady course, showing minimal movement in the last two trading sessions while keeping its gaze on an upward trajectory. Despite closing below the 19,450 mark on Wednesday, the index faced familiar resistance, aligning with a pattern observed over the past three trading sessions. Notably, the Nifty 50's intraday high of 19,463 reached the highest point since October 2023.

With Thursday and Friday set to draw the curtains on the September quarter earnings season and Samvat 2079, the Nifty 50 has charted gains of 9% over the past year, with broader markets outshining their large-cap counterparts.

Attempting to breach the 43,800 mark on Wednesday, the Nifty Bank encountered volatility due to its weekly options expiry, closing 150 points below the day's high.

Investors are poised for reactions in today's trading session, especially for stocks like BHEL, Mazagon Dockship, Pidilite Industries, and PFC, expected to respond to their second-quarter earnings. Eyes are also on results from Adani Ports, Apollo Hospitals, Ashok Leyland, Sterlite Tech, Sula, and Zee Entertainment.

United Spirits made headlines by resuming dividend payments after a decade, with September quarter revenue surpassing expectations. Biocon's strategic move includes signing a definitive agreement with Eris Lifesciences to divest its dermatology and nephrology branded formulations business for Rs 366 crore. Meanwhile, GNFC has approved a buyback of 5.46% of its outstanding equity at Rs 770 per share.

In the global arena, the majority of Asia-Pacific markets opened higher. The Nikkei 225 is up 0.3%, and the Topix remains flat. South Korea's Kospi, which experienced a 3.2% drop in two sessions, currently trades with little change. Hang Seng futures indicate a positive start.

Wall Street sustained its winning streak, with the S&P 500 gaining 0.1%, matching its eight-day streak last seen in November 2021. The Nasdaq closed higher for the ninth consecutive day.

The GIFT Nifty is trading at a premium of about 20 points from Nifty Futures' Wednesday close, signalling a potential start with mild gains for the Indian market.

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Nov 09, 2023, 2:52 pm IST

Jubilant Ingrevia Raises CPs of Rs. 100 Crore

The company announced on Thursday that it has issued Commercial Papers (‘CPs’) of Rs. 100 Crore on November 09, 2023. The tenure of the listed instrument is 48 days and the issuance comes with a date of maturity of Wednesday, December 27, 2023 with date of Thursday, November 09, 2023 as the date of allotment. The instrument holds a coupon rate of 7.25 % per annum and Wednesday, December 27, 2023 has been fixed as payment of principal amount.

Nov 09, 2023, 2:12 pm IST

The Ramco Cements Results

There was a 38% rise in sales volume from 3.35 million tonnes in Q2FY23 to 4.61 million tonnes in Q2FY24. For Q2FY24, cement capacity utilisation is 82%. With a 31% growth, net revenue for Q2FY24 is Rs. 2,343 crores as opposed to Rs. 1,793 crores in Q2FY23. EBIDTA climbed by 114% to Rs. 412 crores in Q2FY24 from Rs. 193 crores in Q2FY23. In Q2FY24, blended EBIDTA per tonne was Rs. 894, compared to Rs. 575 in Q2FY23. In Q2FY24, the operating ratio was 18%, up from 11% in Q2FY23. Due to the impact of inflation on procurement costs, the cost of raw materials increased by 7% YoY for the current quarter, from Rs. 836 to Rs. 897 per tonne. In comparison to Q2FY23, when it was 9 (cost per kcal), the total fuel consumption per tonne for cement in Q2FY24 was approximately equal to 8 (cost per kcal: Rs. 1.75). In Q2FY24, the electricity and fuel cost per tonne of cement was Rs. 1,358 instead of Rs. 1,989 as in Q2FY23. In Q2FY24, the interest expenses were Rs. 117 crores, compared to Rs. 55 crores in Q2FY23. Depreciation was Rs. 157 crores for Q2FY24 compared to Rs. 122 crores for Q2FY23. The company's capital expenditures for the current quarter were Rs. 941 crores. Net debt as of September 30, 2023, inclusive of working capital borrowings, was Rs. 4,966 crores. Due to a rise in market rates, the average cost of borrowing for Q2FY24 went up from 6.35% in FY23 to 7.80%.

Nov 09, 2023, 1:01 pm IST

Endurance Technologies Q2 Profit Soars 17.5% YoY To Rs 155 Crore

Endurance Technologies declared 17.5% on-year rally in its consolidated profit at Rs 154.55 crore for July-September period of FY24, driven by healthy operating performance. Meanwhile, revenue from operations soared by 7.8% YoY to Rs 2,545 crore in Q2FY24. Endurance Technologies shares declined 3.38% to 1667.00 per share in trade today at 1:01 pm.

Nov 09, 2023, 12:58 pm IST

Trent Shares Rally After Robust Q2 Results

Leading large cap Tata Group stock Trent shares witnessed a sharp rally of 13% in last 1-week only as the company reported 55.9% surge in its net profit for September quarter of FY24 to Rs 289.6 crore as against Rs 186 crore reported in the corresponding quarter of last financial year. Last trading price of Trent Ltd stock on BSE is Rs 2476.25 per share with intraday gain of 0.96%. Trent shares soared 119% in last 2-years and gained 84% YTD.

Nov 09, 2023, 12:07 pm IST

Vodafone Idea Shares Gain After Bombay High Court Orders Tax Refund Of Rs 1,128 Crore

The share price of gained 2.05% at Rs 13.92 per share at 12:02 pm IST on Thursday after the after the Bombay High Court asked the income-tax department to refund an amount worth Rs 1,128 crore paid by the telecom operator in dues in 2016-17.

Nov 09, 2023, 11:43 am IST

PI Industries Shares Gain Over 3% On Strong Q2 results, Positive FY24 Outlook

Shares of PI Industries surged 3.07% at Rs 3690.00 per share on Thursday after the company reported robust results for the quarter ending September 30, 2023. The company’s revenue rose 20% year-on-year (YoY) to Rs 2,116 crore in Q2FY24 , while net profit during this period jumped 44% YoY to Rs 480 crore.

Nov 09, 2023, 11:34 am IST

Rupee Gains 5 Paise To 83.25 Against US Dollar In Morning Trade

The Indian rupee appreciated 5 paise to 83.25 against the US dollar in the early trade on Thursday. The domestic unit gained as crude oil prices and the US Dollar retreated from their elevated levels.

Nov 09, 2023, 11:22 am IST

Stock Market Statistics

Source:NSE

Nov 09, 2023, 11:08 am IST

Top 5 Gainers and Losers Today

Source:NSE

Nov 09, 2023, 10:01 am IST

Oil India Records Second Consecutive Day of Losses Following Q2 Results

Oil India's shares are witnessing a downtrend for the second consecutive day, marking a 2% decrease. This follows a pattern where the stock has been in the negative for two out of the last five trading sessions. The state-owned company reported a substantial 80% quarter-on-quarter decline in net profit, amounting to Rs 325.3 crore, for the second quarter ending September 30, 2023. Despite this, its total revenue for the same period recorded a noteworthy increase, reaching Rs 5,342.3 crore, reflecting a 27.3% rise compared to Rs 4,531.1 crore on a quarter-on-quarter basis.

Nov 09, 2023, 9:31 am IST

Market Opens Flat Amid Mixed Global Cues, Nifty Above 19,400

Indian indices opened with marginal changes on November 9, influenced by a blend of global signals. The Sensex reflected a decline of 44.12 points or 0.07%, settling at 64,931.49, while the Nifty experienced a dip of 17.00 points or 0.09%, standing at 19,426.50. Among the Nifty's prominent gainers were Adani Ports, M&M, Dr. Reddy's Laboratories, BPCL, and Hero MotoCorp, while Tata Consumer Products, Tech Mahindra, Bharti Airtel, HDFC Bank, and HUL were notable among the losers. The market saw 1434 shares advancing, 586 shares declining, and 114 shares maintaining their position.

Nov 09, 2023, 9:15 am IST

USD-INR Outlook Today

Anand James, Chief Market Strategist at Geojit Financial Services went on to add that, "USDINR inched higher yesterday, but did not see 83.3, pipped yesterday to trigger a sell on rallies approach. This is awaited today. As maintained yesterday, congestion point at 83.19 could pivot down moves, and momentum may not kick in until below 82.98. Alternatively outright rise above 83.4 could call for extended upsides aiming 84 initially."

Nov 09, 2023, 9:14 am IST

Nifty Derivative Outlook Today

Anand James, Chief Market Strategist at Geojit Financial Services said, "Nifty weekly contract has highest open interest at 19500 for Calls and 19300 for Puts while monthly contracts have highest open interest at 19500 for Calls and 19000 for Puts. Highest new OI addition was seen at 19500 for Calls and 19400 for Puts in weekly and at 19500 for Calls and 19400 for Puts in monthly contracts. FIIs increased their future index long position holdings by 2.40%, increased future index shorts by 3.20% and decrease in index options by 12.50% in Call longs, 12.50% in Call short, 21.63% in Put longs and 31.39% in Put shorts."

Nov 09, 2023, 9:14 am IST

Nifty Outlook Today

Anand James, Chief Market Strategist at Geojit Financial Services said, "Upsides dominated yesterday, but stopped just shy of the 19475 objective pencilled in for yesterday. Momentum appears to have eased though, and we favour a turn lower from either 19475, 19550 or 19630. For such a move, 19360 should suffice as the near term downside marker, but the 19840 view shall continue to be intact, as long as 19170 holds."

Nov 09, 2023, 9:09 am IST

Rupee Opens Flat Vs Previous Close At 83.26 Per Dollar

The Indian rupee commenced the day unchanged at 83.26 per dollar, maintaining parity with its previous close of 83.27 against US Dollar.

Nov 09, 2023, 9:08 am IST

Morning Market Outlook

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The favourable market texture continues with declining bond yields in the US ( 10- year yield is at 4.48%) and Brent crude dipping below . The resilience of the market is forcing the FIIs to substantially reduce their selling which dwindled to Rs 85 crores yesterday. The FOMO ( Fear of Missing Out) factor is likely to restrain the FIIs from aggressive selling. This will be favourable for the financial sector which has been bearing the brunt of FII selling. While declining crude is a positive for India it also is indicative of the slowing global economy. The three drivers of the global economy - US, China and the Euro Zone - are likely to struggle in CY 24. Even though India is outperforming now, it would be difficult for India to completely decouple from this global slowdown. Therefore, Investors may focus on domestic demand driven sectors like banking and automobiles. A safe bet now is quality pharmaceutical stocks which are exhibiting resilience."

Nov 09, 2023, 8:55 am IST

Biocom Signs Agreement With Eris Life To Divest Dermatology, Nephrology Formulations Business

Biocon Biologics has officially inked a definitive agreement with Eris Lifesciences for the divestment of its Indian Dermatology and Nephrology branded formulations business units. The total transaction value for this divestment stands at Rs 366 crore, with the process anticipated to conclude by the close of November 2023.

Nov 09, 2023, 8:25 am IST

Crude Inches Higher Despite China Inflation Data; Market Seeks Clarity On Demand

Oil prices experienced a slight increase on Thursday, with markets showing resilience against deflationary signals in China. Investors are now seeking additional insights into the demand status from the world's two largest oil consumers. Brent crude futures climbed by 62 cents, or 0.8%, reaching .16 a barrel by 0145 GMT. Concurrently, US WTI crude futures saw a 0.8% uptick, rising by 61 cents to .94 a barrel.

Nov 09, 2023, 8:18 am IST

Wall Street Extends Winning Streak, Nasdaq Gains For 9th Consecutive Day

Wall Street continued its successful run, as the S&P 500 secured a 0.1% gain, aligning with its eight-day winning streak reminiscent of November 2021. Meanwhile, the Nasdaq concluded the day with a higher close for the ninth day in a row.

Nov 09, 2023, 8:16 am IST

Positive Openings Across Asia-Pacific Markets; Nikkei 225 Gains 0.3%

Across the global stage, most Asia-Pacific markets commenced trading on a positive note. The Nikkei 225 exhibits a 0.3% increase, while the Topix holds a steady position. South Korea's Kospi, having encountered a 3.2% dip over two sessions, is presently trading with marginal fluctuations. Anticipated by Hang Seng futures, the market signals a favorable beginning.

Nov 09, 2023, 8:14 am IST

GIFT Night Trades Higher, Indicates A Start With Mild Gains For Indian Market

The GIFT Nifty is trading at a premium of about 20 points from Nifty Futures' Wednesday close, signaling a potential start with mild gains for the Indian market.

Nov 09, 2023, 8:12 am IST

Nifty Anticipates Mild Gains In Opening As Earnings Wrap-Up

As the market inches towards the end of the week, the Nifty 50 index maintains a steady course, showing minimal movement in the last two trading sessions while keeping its gaze on an upward trajectory. Despite closing below the 19,450 mark on Wednesday, the index faced familiar resistance, aligning with a pattern observed over the past three trading sessions. Notably, the Nifty 50's intraday high of 19,463 reached the highest point since October 2023.