Stock Market Closing Update: Sensex, Nifty Close Lower; Rupee Ends Marginally Higher

Domestic benchmark indices Sensex and Nifty closed in the red for the second consecutive session on Thursday amidst weak global cues. Sensex closed 0.38% lower at 65,629.24 points, while Nifty 50 slipped 0.24% at 19,624.70 points. Indian rupee ended marginally higher at 83.24 against the US dollar. The domestic unit closed at 83.27 in the previous session.

All frontline indices of the Indian market stage a mild recovery with Sensex inching towards 65,600 and Nifty nearing 19,600. Nifty Bank too stages recovery with IndusInd Bank leading gains. In the Midcap pack, Astral and Indraprastha Gas are the top losers, while Persistent Systems and Coforge are top gainers.

FMCG heavyweights like Hindustan Unilever, ITC and Nestle are all set to post their Q2FY24 earnings today along with cement giant UltraTech. Stocks like Bajaj Auto, IndusInd Bank, Coforge, LTIMindtree, Persistent Systems and ICICI Lombard will remain in focus today as earning season picks up pace.

On Wednesday, Sensex erased its 66,000 mark and ended at 65,877.02, down by 551.07 points or 0.83%, while Nifty 50 ended at 19,671.10, lower by 140.40 points or 0.71%. Bank Nifty also plunged by 520.80 points or 1.17% to settle at 43,888.70.

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Oct 19, 2023, 3:56 pm IST

Sensex, Nifty Close Lower; Indian Rupee Ends Marginally Higher

Domestic benchmark indices Sensex and Nifty closed in the red for the second consecutive session on Thursday amidst weak global cues. Sensex closed 0.38% lower at 65,629.24 points, while Nifty 50 slipped 0.24% at 19,624.70 points. The Indian rupee ended marginally higher at 83.24 against the US dollar. The domestic unit closed at 83.27 in the previous session.

Oct 19, 2023, 3:00 pm IST

Cryptocurrency Price Today October 19: Bitcoin Price Falls, Ethereum Trades Below ,550 Level; Most Cryptocurrencies Trade Lower

The global crypto market cap tumbled 0.85% at .08 Trillion on Thursday. Bitcoin price fell 0.80% at ,333.06 per token on Thursday. In its third quarter earning report Elon Musk's Tesla revealed that it did not buy or sell any sale of Bitcoin (BTC) in the three months to September. Ethereum price was down 1.89% at ,547.92 per token.

Oct 19, 2023, 2:22 pm IST

Nokia Jobcut Alert: Mobile Phone Giant To Cut Up To 14,000 Jobs As Demand For 5G Equipment Weakens

Nokia, Finnish telecom gear group said on Thursday that it will cut up to 14,000 jobs to reduce costs, after weaker demand for next-generation 5G equipment reduced third-quarter sales by a fifth. Nokia's cost-cutting plan comes in response to a significant 20% slump in third-quarter sales attributed to sluggish 5G equipment sales.

Oct 19, 2023, 2:10 pm IST

Parag Milk Foods Shares Rise On Appointment Of Ex-Lactalis India & Amul MD, Rahul Kumar Srivastava As Chief Operating Officer

Parag Milk Foods on Thursday announced the appointment of Rahul Kumar Srivastava as the Chief Operating Officer (COO) of the organization. He served as the Managing Director of Lactalis India, a division of the world's largest dairy conglomerate, for over a decade. Additionally, he held the position of Managing Director at Amul for more than ten years. The stock was up 2.32% at Rs 224 per share at 2:06 pm IST today.

Oct 19, 2023, 2:08 pm IST

Nestle India Q3 Results

Nestle India Limited today reported a spike of 37% in its consolidated net profit for the third quarter of this year, to Rs 908 crore, compared to Rs 668.3 crore reported in the year-ago quarter. According to today's BSE filing, it reported a total revenue of Rs. 5036 crore, which is a rise of 9.5% over Rs. 4,601.8 crore in Q3FY23. A sizeable second interim dividend of Rs 140 per equity share of Rs 10 each was also announced for 2023 by the large FMCG company. Additionally, the corporation announced a 1:10 stock split.

Oct 19, 2023, 10:50 am IST

IndusInd Bank Surges Nearly 3% On Strong Earnings Report

The shares on IndusInd Bank climb as much as 3% during the early hours of trade on Thursday after the bank reported a rise in its operating profit for the 11th straight quarter and Gross NPAs fall to a 11-quarter low. Even though the earnings were better than what the street had estimated for the private sector lender, elevated slippages and slower overall deposit growth remain major concerns.

Oct 19, 2023, 10:27 am IST

Top 5 Gainers and Losers Today

Source:NSE

Oct 19, 2023, 10:15 am IST

Sensex, Nifty Recover From Opening Lows, Nifty Near 19,600

All frontline indices of the Indian market stage a mild recovery with Sensex inching towards 65,600 and Nifty nearing 19,600. Nifty Bank too stages recovery with IndusInd Bank leading gains. In the Midcap pack, Astral and Indraprastha Gas are the top losers, while Persistent Systems and Coforge are top gainers.

Oct 19, 2023, 9:49 am IST

Bajaj Auto Surges Over 4% On Q2 Earnings

Shares of Bajaj Auto climb more than 4% during early hours of trade of Thursday following a strong set of second quarter earnings. The automobile giant reported a rise of 20% in its Q2 net profit on a year-on-year basis at Rs 1,836 crore. The stock has posted gains in six out of the last eight trading sessions and is up nearly 7% in eight days.

Oct 19, 2023, 9:19 am IST

Market Opens With Deep Cuts, Nifty Below 19,550

Sensex and Nifty open with cuts of over 0.6% in Thursday's trade. 45 out of the 50 stocks on the index open with losses, Wipro sheds nearly 4% in pre-open on the back of its second quarter results. Nifty Bank hovers around the crucial level of 44,600 with 10 of its 12 constituents opening in the red.

Oct 19, 2023, 9:05 am IST

Gold, Silver Prices Outlook Today

Rahul Kalantri, VP Commodities, Mehta Equities said, "We anticipate that gold and silver will exhibit volatility during today's trading session. Gold finds support at the 34-1920 range, with resistance at 62-1974. Silver, on the other hand, has support at .74-22.60 and resistance at .20-23.34. In terms of the INR, gold has support at Rs59,650 and Rs59,440, while resistance is at Rs60,250 and Rs59,540. Silver, in INR terms, finds support at Rs71,150-70,210, with resistance at Rs72,480–72,950.”

Oct 19, 2023, 9:04 am IST

LTIMindtree Shares To React To Q2 Earnings

LTIMindtree share price will be reacting to its Q2 earnings. The company witnessed a mixed performance for the September 2023 quarter of FY24. Although the bottom-line front was gloomier it was still in line with expectations. In Q2FY24, LTIMindtree posted a net profit of Rs 1,161.8 crore on a consolidated, registering a fractional growth of 0.9% sequentially but a drop of 2.5% year-on-year.

Oct 19, 2023, 9:03 am IST

USDINR Trading Guide Today

Rahul Kalantri, VP Commodities, Mehta Equities said, “The USD-INR 27 October futures contract exhibited a narrow trading range. Upon analysis of the daily technical chart, it is evident that the pair is trading above its moving average trend-line support level of 83.22, and the RSI is maintaining levels above 50. While examining the technical configuration, the MACD indicates negative divergence, but the pair is sustaining itself above the 83.22 level. In accordance with the daily technical chart, the pair finds support within the range of 83.22 to 83.05, with resistance positioned at 83.45 to 83.66.”

Oct 19, 2023, 9:03 am IST

Crude Oil Outlook Today

According to Rahul Kalantri, VP Commodities, Mehta Equities, “We anticipate that crude oil prices will remain volatile during today's trading session. In the current session, crude oil has a support level at .00–85.20 and faces resistance at .60–88.50. In terms of the Indian Rupee (INR), crude oil finds support at Rs 7,240–7,150, while resistance is at Rs 7,430–7,510.”

Oct 19, 2023, 9:01 am IST

Bandhan Bank Q2 Results

Bandhan Bank will be in focus today. The bank's profit after tax (PAT) jumped by 245% YoY to Rs 721 crore in Q2FY24 from Rs 209 crore in Q2FY23. The bank's Net Interest Income (NII) improved to Rs 2,443 crore in Q2 FY24 from Rs 2,193 crore in Q2 FY23, and its NIM was 7.2% during the quarter under review compared to 7.0% in the year-ago quarter.

Oct 19, 2023, 9:01 am IST

Tech Player Wipro In Focus Today

Tech giant, Wipro posted consolidated net profit of Rs 2,646.3 crore in the quarter ending September 30, 2023, period, registering a decline of 7.8% from a profit of Rs 2,870.1 crore in the preceeding quarter. The PAT was flat compared to profit of Rs 2,659 crore in Q2 of FY23. Gross revenue reached ₹225.2 billion (.7 billion1), a decrease of 0.1% YoY. The stock will be reacting to Q2 earnings on Thursday.

Oct 19, 2023, 9:00 am IST

IndusInd Bank In Focus After Earnings

IndusInd Bank share price will be in focus. The bank said that its net profit for the quarter ended September 30, 2023 was Rs 2,202 crores, up 22% YoY from Rs 1,805 crores during the comparable period the previous year. Its Net Interest Income (NII) climbed by 18% YoY and 4% QoQ to Rs 5,077 crores for the quarter that ended on September 30, 2023.

Oct 19, 2023, 8:56 am IST

HUL, ITC, Nestle Stocks In Focus

Three leading FMCG giants namely Hindustan Unilever Ltd, Nestle India Ltd, and ITC Ltd are scheduled to declare their September quarter results for financial year 2024. Accordingly, these three stocks will also see major movements on Thursday's trading session.

Oct 19, 2023, 8:22 am IST

Stocks In News Today

Stocks like Bajaj Auto, Wipro, IndusInd Bank, LTIMindtree, Persistent Systems. Bandhan Bank, and Mastek among others.

Oct 19, 2023, 8:19 am IST

Results Today

Major companies like Hindustan Unilever, ITC, Nestle India, UltraTech Cement, Voltas, Coforge, Cyient, and PVR Inox will announce their Q2 results on October 19th. Other companies to present their Q2FY24 today are -- Aarti Drugs, Agro Tech Foods, Equitas Small Finance Bank, Hatsun Agro Product, Havells India, HFCL, Indoco Remedies, Jindal Stainless, Mastek, Metro Brands, Mphasis, Ramkrishna Forgings, South Indian Bank, Tanla Platforms, Tata Coffee, Tata Communications, United Breweries, and Updater Services.

Oct 19, 2023, 8:14 am IST

Markets Performance, October 18

Sensex erased its 66,000 mark and ended at 65,877.02, down by 551.07 points or 0.83%, while Nifty 50 ended at 19,671.10, lower by 140.40 points or 0.71%. Bank Nifty also plunged by 520.80 points or 1.17% to settle at 43,888.70. Broad-based selling was seen across sectoral indices with banking, consumer durables, oil & gas, financials, and IT stocks weighing on the bearish sentiment.