Stock Market Live Updates: Sensex, Nifty End Higher

Benchmark indices broke two-day losing streak and ended higher with Nifty around 19,550,as per moneycontrol.

At close, the Sensex was up 405.53 points or 0.62 percent at 65,631.57, and the Nifty was up 108.20 points or 0.56 percent at 19,544.30. About 2178 shares advanced, 1361 shares declined, and 121 shares unchanged.

Bajaj Auto, Larsen & Toubro, Titan Company, M&M and TCS were among the top gainers on the Nifty, while losers included Power Grid Corporation, Hindalco Industries, Cipla, NTPC and Nestle India.

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Oct 05, 2023, 2:45 pm IST

Oil Minister concerned about ‘organised chaos’ and ‘devastation’ over rising oil prices

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said rising crude oil prices could create “organised chaos” and “devastation” in several parts of the world.

Oct 05, 2023, 2:33 pm IST

Goldman is cautious on ‘expensive’ India stocks before polls

Global headwinds and expensive stock valuations necessitate a cautious approach toward Indian equities in the short term as the country prepares for next year’s national elections, according to Goldman Sachs Group Inc.

Oct 05, 2023, 2:30 pm IST

India's Services Sector Activity expands again in September as PMI rises to 61.0

India's services activity continued to expand in September, with the purchasing managers' index (PMI) for the sector rising to 61.0 from 60.1 in August, according to data released by S&P Global on October 5.

Oct 05, 2023, 1:44 pm IST

Cement Stock Rallies 6%

Haryana-based HeidelbergCement India which has a capacity of 13.4 million tonnes per year, witnessed strong buying on Thursday so much that its shares rallied by nearly 6% on BSE. HeidelbergCement has been in the news for the past week, due to acquisition buzz. In the latest development, a media report has mentioned that the country's cement giants Ultratech Cement and Adani Group are joining the race for the acquisition of HeidelbergCement from its Germany-based parent Heidelberg Materials. Earlier, reports mentioned JSW Cement has shown interest in the company to which HeidelbergCement clarified that it is not aware of the development.

Oct 05, 2023, 12:38 pm IST

MCX Gold Futures Gain After 8-Day Losing Streak

MCX gold futures expiring in December 2023 traded at Rs 56728 per 10 grams, marginally up from the previous day. The bullion ranged from Rs 56,900 to Rs 56,709 per 10 grams during the day. Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities said, "COMEX Gold prices extended declines for the eight straight day on Wednesday, despite a decline in dollar and treasury yields. The dollar index fell below the 107, while the yield on the US 10-year treasury notes eased from a 16-year high of 4.88%, following the release of a disappointing ADP jobs report ahead of Friday's official employment data. Private businesses in the US hired 89K workers in September 2023, the least since January 2021 and well below market forecasts of 153K. Today, investors might be closely watching US weekly jobless claims, however, the focus is on the Non-farm payrolls data on Friday. We expect some recovery in gold prices after the disappointing ADP data, which is a precursor to the NFP data.”

Oct 05, 2023, 12:36 pm IST

5 Small Finance Bank Stocks Rally Up To 13%, Some Touched New 52-Week High

Small finance bank stocks witnessed a huge rally of up to 13% on Thursday after their balance sheet performances for the September 2023 quarter of FY24. Utkarsh Small Finance Bank not only rose the highest among peers but also touched a new 52-week high, while Ujjivan Small Finance Bank had also clocked a new 1-year high. Other SFBs like AU Small Finance Bank, Equitas Small Finance Bank, and Suryoday Small Finance Bank also saw significant movement in their shares. Major SFBs have posted double-digit growth in advances and deposits for the quarter ending September 30, 2023.

Oct 05, 2023, 12:27 pm IST

Tata IPO: Why Tata Motors Shareholders, Employees Need To Watch Out For Tata Tech's Initial Public Offering

Tata Group's most-awaited initial public offering (IPO) of Tata Technologies takes one step closer to launch. Tata Tech has filed an addendum to its draft red herring prospectus (DRHP) with market regulator Sebi. And there is good news for the shareholders and employees of the Group's automobile flagship Tata Motors.

Oct 05, 2023, 11:31 am IST

Hindalco Industries To Enter Into MoU With Odisha Mining Corporation For Supply Of Bauxite Ore

Hindalco Industries is expected to enter into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for long-term supply of Bauxite ore for its proposed 2-million tonne alumina refinery and 150-MW captive power plant at Kansariguda in the Rayagada District (‘the project’). It will be the Company’s second alumina refining facility in the Rayagada district of Odisha. Current market price of Hindalco Industries Ltd is Rs 472.85 per share with intraday fall of 0.05 on BSE.

Oct 05, 2023, 11:15 am IST

Marico Shares Fall 4% On Lower Consolidated Revenue

Marico shares declined 3.99% on October 5 to Rs 547.75 apiece on BSE. The leading FMCG company in its second fiscal quarter review, announced its consolidated revenue marginally lower on a year-on-year basis, dragged by pricing corrections in key domestic portfolios over the last 12 months. Consumption trends, particularly in rural areas, are expected to improve in H2 owing to retail inflation levels staying within RBI’s target range, hike in MSPs, healthy sowing season, easing liquidity pressures, and government spending, according to Marico’s BSE filing.

Oct 05, 2023, 10:23 am IST

Top 5 Gainers and Losers Today

Source:NSE

Oct 05, 2023, 10:18 am IST

Hero Motocorp Shares Soar 2% After Obtaining 13,000 Karizma XMR Bookings

Hero Motocorp Limited shares gained 2% to Rs 3,048 in morning trade today after the renowned motorcycle manufacturer said it obtained 13,688 bookings for its new flagship Karizma XMR bike. Dispatches of Karizma XMR to Hero MotoCorp dealers were on and customer deliveries are expected to begin in the festival period this month, the company said in an exchange filing on October 4. According to the BSE filing, “Riding the wave of an overwhelming response for its premium product launches, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has received 13,688 bookings for its newly launched flagship motorcycle, Karizma XMR.”

Oct 05, 2023, 10:12 am IST

Small Cap Pharma Stock Glenmark Life Sciences To Consider Dividend On Oct 9

Small cap pharmaceuticals sector company, Glenmark Life Sciences Ltd will consider and declare payment of interim dividend, if any on October 9, 2023 for the financial year 2023-24. Current market price of Glenmark Life Sciences share is Rs 617.85 per share with intraday gain of 0.13%. Glenmark Life Sciences shares gained 52% in last 6-months and soared 62% in last 1-year.

Oct 05, 2023, 9:47 am IST

USD-INR Outlook Today

Anand James, Chief Market Strategist at Geojit Financial Services said, "Lackluster moves dominated yesterday. Upside hopes remain as long as above 83.25, aiming 83.4-83.49 initially and 83.73 thereafter. Downside continues to be at 83.07 or 82.98."

Oct 05, 2023, 9:46 am IST

Nifty Derivative Outlook

"Nifty weekly contract has highest open interest at 19600 for Calls and 19400 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19500 for Puts. Highest new OI addition was seen at 19450 for Calls and 19350 for Puts in weekly and at 19400 for Calls and 19400 for Puts in monthly contracts. FIIs increased their future index long position holdings by 19.49%, increased future index shorts by 11.21% and decrease in index options by 28.09% in Call longs, 13.40% decrease in Call short, 38.92% decrease in Put longs and 19.99% decrease in Put shorts," said Anand James, Chief Market Strategist at Geojit Financial Services.

Oct 05, 2023, 9:46 am IST

Nifty Outlook Today By Anand James, Chief Market Strategist at Geojit Financial Services

The weakness that persisted for most part of the day stalled on test of 19340, the lower extremity pencilled in for yesterday. While rooting for a recovery move thereof, we were hopeful of getting back above 19460.That such move was timed out allows to retain hopes of extended recovery attempts today as well, aiming either 19570 or 19650. However, inability to float above 19430 early in the day, or a fall back below 19386 after initial upswings, will deflate upside hopes.

Oct 05, 2023, 9:45 am IST

Morning Market View By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The triple whammy of spiking dollar, US bond yields and crude is slowly easing, paving the way for a recovery in markets. The decline in the dollar and US bond yields are mild and , therefore, not adequate for a reversal of FII selling, which continues to be very high. But the sharp correction in Brent crude to is a big positive. Apart from the macro benefits the crude correction will reflect positively on the stocks of oil consuming industries like paints, aviation and tyres. Sustained FII selling has impacted banking stocks in spite of their sound fundamentals. Q2 results of banks will be good and their valuations are attractive. This presents a good buying opportunity now. Capital goods stocks will continue to do well. Q2 results of autos, too, will be good, gaining from soft commodity prices. The market will start discounting this in advance.

Oct 05, 2023, 9:16 am IST

Pre-market session

The pre-opening session on Thursday witnessed a rise in the value of benchmark indices. The Nifty was higher by 152.80 points or 0.79 per cent at 19,588.90, while the Sensex was higher by 397.63 points or 0.61 per cent at 65,623.67 levels.

Oct 05, 2023, 9:12 am IST

Rupee opens flat

Compared to Wednesday's closing price of 83.23, the Indian rupee started steady on Thursday at 83.25 per dollar.

Oct 05, 2023, 9:09 am IST

Adani Total Gas In Focus

The Board of Directors of the firm on 4th October nominated Dr. Sangkaran Ratnam as an Additional Director (Non-Executive, Non-Independent) of the company subject to the approval of shareholders by means of Ordinary Resolution to hold office up to the date of next general meeting of the Company or three months, whichever is earlier.

Oct 05, 2023, 9:05 am IST

Gold outlook for today by Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas

Gold-:down for the eighth consecutive day Spot gold closed with a loss of 0.10% at 21 despite the US Dollar Index and the ten-year US yields retreating. US ADP employment data (September) at 89K trailed the forecast of 150k job additions. The US factory orders (August) came in at 1.20% Vs the forecast of 1.20%, whereas headline durable goods orders data (August final) at 0.10% trailed the forecast of 0.20%. The US ISM services at 53.60 was a tad better than the expected figure of 53.50, though new orders at 51.79 were sharply lower from the previous data of 57.50. Out of Europe, services and composite PMIs data of the Euro-zone, Germany and the UK were better than expected. Today's US data include weekly jobless claims. Investment demand for gold remains anemic as the total known global gold ETF holdings fell for the third straight day to a fresh cycle low. Support is at 15/00. Resistance is at 50/58. The metal is expected to consolidate ahead of the US nonfarm payroll report due Friday.

Oct 05, 2023, 9:02 am IST

Stocks To Watch Today

Hero MotoCorp, Hindustan Aeronautics, DMart, Manappuram Finance, Adani Total Gas, Bajaj Finance, Oriental Rail Infrastructure, Larsen & Toubro, Exide Industries, and Nazara Technologies are the top stocks to watch today.