Oct 03, 2023, 4:00 pm IST
Top 5 Gainers and Losers Today
Source: NSE
Oct 03, 2023, 3:54 pm IST
Indian Stock Market Ends Lower; Most Sectors Close in Red, Auto Stocks Contribute To Losses
The Indian stock market settled lower on Tuesday amidst negative cues from global indices and renewed concerns over inflation. Today, the benchmark index Sensex fell 0.48% at 65,512.10 points, while Nifty settled 0.56% lower at 19,528.75 points.
Oct 03, 2023, 3:00 pm IST
Anil Agarwal-Led Vedanta Likely To Complete Sale Of Its Steel Assets By March 2024; Shares Surge 4%
Vedanta Ltd shares remained in focus on Tuesday after the company announced its demerger plan last week. According to a CNBC TV 18 report, the group chairman Anil Agarwal said on Tuesday that India's Vedanta Ltd is considering completing the sale of its steel assets by March 2024. At 2:49 pm IST, the share price of Vedanta Ltd was up 4% at Rs 231.40 per share.
Oct 03, 2023, 2:41 pm IST
Auto Stocks: Eicher, Maruti, Tata Motors, M&M Shares In Deep Red On October 3; Here's Why
Auto stocks were tossed around by a band of bears with the Nifty Auto index toppling to erase its ,000 critical mark. The share price of Eicher Motors, Maruti Suzuki, Tata Motors, Hero MotoCorp, and M&M all traded in the red today, dragging the overall index and market. The selling pressure in auto stocks comes after their September sales data which was a mixed bag with two-wheelers and tractors underperforming, while and SUVs along with cars hitting all-time highs on festive zeal.
Oct 03, 2023, 2:36 pm IST
Nifty 50 Trades In Red; IDFC First Bank, ICICI Bank, HDFC Bank, AU Bank, and Kotak Bank Contribute To Losses
Nifty 50 was down 0.54% at 19,532.45 points in today's intraday trading session. The top losers in the index were IDFC First Bank, ICICI Bank, HDFC Bank, AU Bank, and Kotak Bank.
Oct 03, 2023, 2:11 pm IST
Steel Strips Wheels Shares Surge Almost 5% On Achieving Highest Ever Monthly Net Turnover Of Rs. 401.88 Crore
Shares of Steel Strips Wheels rose 4.82% at Rs 291.25 per share in intraday trading on Tuesday after the company informed that it has achieved its highest-ever monthly Net turnover of Rs. 401.88 Crore in September 23 Vs Rs.359.78 Crore in September 2022, recording a growth of 11.70 % % YOY. The company achieved a Gross turnover of 486.99 crore Vs a Gross turnover of Rs 445.42 Crore in September 2022, thereby recording a growth of 9.33 % YOY.
Oct 03, 2023, 1:59 pm IST
JSW Infra Shares List At 20% Premium
JSW Infrastructure IPO shares made a strong market debut on Tuesday (October 3). JSW Infrastructure stock at Rs 143, up 20% compared to the IPO price of Rs 119 per share.
Given the strong performance of JSW Infrastructure, it is considered wise to hold the shares for the long term. Shares of JSW Infrastructure were listed at Rs 143 on both NSE and BSE on October 3, up 20% compared to the issue price of Rs 119 per share.
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Oct 03, 2023, 1:41 pm IST
Gold, Silver Lose Shine
Yellow metal is losing its shine globally due to robust economic data and the hawkish US Federal Reserve.
In India, 22-carat gold declined by Rs 600 per 10 grams on Tuesday, while 24-carat gold dipped by Rs 660 per 10 grams. Silver prices were also burning and tumbled by Rs 2,000 per 1 kg. MCX gold has slipped below the Rs 56,600 mark.
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Oct 03, 2023, 1:08 pm IST
Adani Ports Shares Rise After Monthly Performance
The share price of Adani group firm Adani Ports And Special Economic Zone Ltd. (APSEZ) rose over 1% at one point on Tuesday (October 3) after the company said that during H1FY24, Adani Ports managed a lifetime high of 203 MMT of total cargo.
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Oct 03, 2023, 12:20 pm IST
Auto Stocks In Selling Pressure
Auto stocks were broadly in deep red with the Nifty Auto index erasing its 16,000 critical mark. At the time of writing, the index fell by 206.60 points or 1.3% to trade at 15,977.80 currently. The index ranged from 16,316 to 15,955.90.
The decline in auto stocks comes after the September sales figures. While many automakers witnessed record-high sales in passenger vehicles, especially SUVs, two-wheelers sales declined during the month. Commercial vehicles saw healthy performance as well. The half-yearly period of FY24 has been a mixed bag for auto sales.
Eicher Motors, Maruti Suzuki, Balkrishna Industries, and Tata Motors were top losers with a downside of 2% to 3.5%. Stocks like Hero MotoCorp, Bosch, M&M, and Motherson Sumi also dipped around 1% each.
However, Ashok Leyland, TVS Motor, and MRF were top gainers.
Oct 03, 2023, 11:59 am IST
After Sellout In Two Adani Energy Stocks; Abu Dhabi's IHC Buy's Stake In Group's Adani Enterprises
Abu Dhabi-based leading investor, International Holding Company (IHC) has shown a mixed interest in Adani Group-backed listed stocks. After selling out stakes in two of Adani's energy stocks last week, IHC has shown love to the Group's flagship firm Adani Enterprises.
Oct 03, 2023, 11:39 am IST
KPI Green Energy Gets New Orders for Solar Power Projects
KPI Green Energy said in a notice to exchanges that it got new orders for executing solar power projects of 4 MW capacity from Shree Parmeshwar Steel Pvt. Ltd. and 3 MW capacity from Vivan Steels under ‘Captive Power Producer (CPP)’ Segment of the Company. The stock rose 1.3 percent, according to moneycontrol.
Oct 03, 2023, 11:05 am IST
India's manufacturing PMI slows in September
India's factory activity slowed in September marginally, but remained solid, with strong demand driving business confidence to its highest level this year, S&P Global's latest data stated on Tuesday.
The Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 57.5 in September from 58.6 in August. The PMI level has remained above the 50-level mark for 27 straight months.
Oct 03, 2023, 10:17 am IST
Top 5 Gainers and Losers Today
Source: NSE
Oct 03, 2023, 10:03 am IST
Top 5 Large & Mid Cap Mutual Funds With Highest Return On SIPs
A subcategory of mutual funds known as larger and mid-cap funds combines the security of large-cap stocks with the growth potential of mid-cap firms. This equity mutual fund is required to invest a minimum of 35% in large-cap and mid-cap equities, respectively. These funds connect the largest stocks in India with the mid-sized stocks that are competing with them for the top spot.
Oct 03, 2023, 10:01 am IST
Auto Stocks In Red
After the September sales/business update, auto stocks were in red in the early session of Tuesday. Maruti Suzuki, Eicher Motors, Tata Motors, Balkrishna Ind and Hero Motocorp were the top 5 losers while Ashok Leyland, M&M and TVS Motor were the top in the gainers list.
Oct 03, 2023, 9:49 am IST
Gold - down for the sixth straight session
Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas said, Spot gold extended its decline to the sixth consecutive day as high US yields and a firmer Dollar continue to weigh on the metal prices. Spot gold closed with a loss of 1.21% at 26. The ten-year US yields hardened by around 1.50% to 4.679%, while twos were up by just one bps to 5.10%, thus resulting bear steepening raising concerns due to increasing possibility of further hike by the Fed.
The US Dollar Index capitalised on the US data, US yields and subdued European data to push higher by 0.70% to close just above 107.
The S&P Global US manufacturing PMI (September Final) was registered at 49.80, which was better than the forecast of 48.90. Similarly, US ISM manufacturing PMI data (September) came in at 49 Vs the forecast of 47.90, which boosted the US Dollar as yields firmed up. ISM employment crept back into expansion zone (51.20 Vs the estimate of 48.60). ISM new orders at 49.20 topped the forecast of 47.80. The Euro-zone's manufacturing PMI data at 43.40 matched the forecast, though Germany's manufacturing PMI at 39.60 fell short of expectation of 39.80. The Euro-zone's unemployment rate at 6.40% matched the forecast, though previous reading was revised higher from 6.40% to 6.50%. The UK's manufacturing PMI at 44.30 was tad better than the previous reading of 44.20.
Today's data docket includes US JOLTs openings (August).
Total known global gold ETF holdings fell for the second straight day, which took the overall holding level to a fresh cycle low.
Gold is expected to continue to remain under pressure on elevated yields and firm Dollar as safe haven flows are missing.
Support is at 00, while resistance is at 50/58.
Oct 03, 2023, 9:46 am IST
Morning market view
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "There are mixed cues for the October series, which historically has been a good month for markets. The major negative for the near-term will continue to be the sustained FII selling, which touched Rs 26689 crores in the cash market in September. The dollar index rising above 107 and the US 10-year bond yield at 16-year high of 4.68 % are major headwinds for the market since FIIs are likely to continue selling in response to the rising dollar and US bond yields. But, on the positive side, the bulls will be emboldened to buy on the back of the tailwind of the 5% crash in Brent crude prices. Bullish DIIs and retail investors will lend support to the market. In the near-term these negative and positive factors can be expected to swing the market to and fro."
Oct 03, 2023, 9:45 am IST
Derivative outlook
Anand James, Chief Market Strategist at Geojit Financial Services said, Nifty weekly contract has highest open interest at 19800 for Calls and 19600 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19500 for Puts. Highest new OI addition was seen at 19800 for Calls and 19600 for Puts in weekly and at 20500 for Calls and 19500 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 8.35%, increased future index shorts by 4.19% and in index options by 15.16% in Call longs, 7.28% in Call short, 31.44% in Put longs and 39.23% in Put shorts.
Oct 03, 2023, 9:44 am IST
USD-INR outlook today
Anand James, Chief Market Strategist at Geojit Financial Services said he looks for a push towards 83.3, with fair possibilities of the same evolving into a stronger uptrend, aiming for 83.4 initially. Downside marker may be placed at 83.07 or 82.98.
Oct 03, 2023, 9:43 am IST
Nifty Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services said, an inside bar on Friday suggests efforts to neutralize the heavy bearishness of the expiry day. Yet, we are not yet clear of the bearish bias, though the set up does favour a rise back above 20000, should 19780 be taken down. However, this conditional upside requires the downside marker to be at 19500, while inability to float above 19640-78 could also be considered an early signal towards weakness.
Oct 03, 2023, 9:27 am IST
Indian benchmark indices open lower
On Tuesday, the Indian market started the day on a red note as Nifty opened 0.48% lower at 19543.20 and Sensex opened 0.43% lower at 65545.30. Nifty Bank opened in red at 44399.60 down by 0.41%.
Oct 03, 2023, 9:23 am IST
Tata Motors In Focus
Tata Motors Limited sold 2,43,024 vehicles in Q2 FY 2023–24 as opposed to 2,43,387 units in Q2 FY 2022–23 on both domestic and international markets. With 82,023 units sold in September, up from 80,633 units in the same month last year, Tata Motors Ltd. recorded a 2 percent increase in overall domestic vehicle sales.
Oct 03, 2023, 9:19 am IST
Pre-opening session
Benchmark indices on Tuesday were flat during the pre-opening session. The Sensex is down 0.46% per cent at 65,524.65, the Nifty Bank is down 0.47% per cent at 44,377 levels, and the Nifty 50 is down 0.55 per cent.
Oct 03, 2023, 9:01 am IST
Stocks To Watch Today
Maruti Suzuki, Coal India, Tata Motors, Adani Energy, TVS Motor Company, Hindustan Zinc, and Hero Motocorp are among the top 10 stocks to watch today.
Oct 03, 2023, 8:58 am IST
Adani Green In Focus
According to a PTI as of 2nd October, the billionaire Gautam Adani's company aims to construct 10 GW of integrated solar manufacturing capacity by 2027. The current solar manufacturing capacity of the Adani Group is 4 GW. According to the sources, Adani Solar has an export order book with confirmed commitments totalling more than 3,000 MW, which will be fulfilled over the course of the next 15 months. They also said that Adani recently secured USD 394 million for solar manufacturing through a trade finance facility from Barclays PLC and Deutsche Banks AG, according to PTI.
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