Indian equity market closed lower on Wednesday. The NSE Nifty 50 fell 0.71% to settle at 19,671.10 points, while the BSE Sensex shed 0.83% to 65,877.02 points. Midcaps stocks were the biggest laggards among the broader indices. The Bank Nifty index slipped 1.17% to settle at 43,888.70.
The Sensex was down 30.50 points or 0.05 percent at 66,397.59, and the Nifty was up 6.80 points or 0.03 percent at 19,818.30 at 1000 IST. About 1774 shares advanced, 1111 shares declined, and 116 shares unchanged, according to moneycontrol.
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Q2 earnings, economic data, global trends and geopolitical tensions are in focus.
Major Q2 results scheduled on October 18th are Bajaj Auto, Bandhan Bank, IndusInd Bank, LTIMindtree, Wipro, Persistent Systems and UTI AMC among others, while stocks like Bajaj Finance, L&T Technology Services, Happiest Minds, Tata Metaliks, and Tata Elxsi will be in focus after their Q2 earnings which were announced yesterday.
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Oct 18, 2023, 3:48 pm IST
Sensex, Nifty End Lower, Bank Nifty index Down 1.17%
Indian equity market opened lower on Wednesday. The NSE Nifty 50 fell 0.71% to settle at 19,671.10 points, while the BSE Sensex shed 0.83% to 65,877.02 points. Midcaps stocks were the biggest laggards among the broader indices. The Bank Nifty index slipped 1.17% to settle at 43,888.70.
Oct 18, 2023, 3:17 pm IST
Top 5 Gainers and Losers Today
Source:NSE
Oct 18, 2023, 2:23 pm IST
Nifty Bank Index Down 0.50%; PNB, Axis Bank, Bank Of Baroda, HDFC Bank Among Top Laggards
Today, the Nifty Bank Index traded in the red as it was down 0.50% at 19,711.80 points. The top laggards on the index were PNB, Axis Bank, Bank Of Baroda, and HDFC Bank down 1.58%, 1.32%,1.30%, and 1.29%
Oct 18, 2023, 2:14 pm IST
Cryptocurrency Price Today October 18: Bitcoin Price Price Trades At USD28,563; Shiba Inu Tumbles 45%
The global crypto market cap slipped 0.24% to .09 Trillion on Wednesday. The total crypto market volume over the last 24 hours is .6 Billion, which makes a 19.57% decrease. Bitcoin price was up 0.15% at ,563.34 per token, while the price of the world's second-largest cryptocurrency Ethereum traded 1.16% lower at ,574.98 per token.
Oct 18, 2023, 1:30 pm IST
ICICI Bank, Kotak Bank Shares Fall On Penalty From RBI
Share prices of two leading private sector lenders, ICICI Bank and Kotak Mahindra Bank faced heavy selling pressure on Wednesday after the Reserve Bank of India (RBI) imposed a hefty monetary penalty on both of them for violation of its guidelines. ICICI Bank was slapped with a massive Rs 12.19 crore fine, while Kotak Bank got a Rs 3.95 crore penalty.
The two stocks have tumbled between 1-2%.
Oct 18, 2023, 12:29 pm IST
Happiest Minds Share Price
Happiest Minds' share price traded at Rs 839.25 apiece on BSE, down by 2.51%. The stock was near its intraday low of Rs 838 apiece. Its market cap was nearly Rs 12,777 crore.
The stock is in focus on Wednesday for a host of reasons. Firstly, the company has declared its Q2 numbers, while also recommending interim dividends for shareholders, and establishing a new business unit focusing on generative AI.
Oct 18, 2023, 11:46 am IST
Newgen Software Technologies Shares Jump Almost 13% To Hit 52-Week High Following Robust September Quarter Earnings Report
Newgen Software Technologies Ltd shares zoomed 10.64% intraday and traded new 52-week high today on BSE after announcing robust Q2 results for second consecutive quarter. The company's profit after tax surged 60.6% at Rs 47.8 crore for the quarter ended September 30, 2023 pushed by robust growth in financial and banking services segment across geographies.
Oct 18, 2023, 11:20 am IST
BLS E Services (Subsidiary of BLS International) Joins Hands With Kotak Mahindra Bank To Revolutionize Indian Banking
BLS E-Services Limited, a subsidiary of BLS International Services Limited has announced a significant milestone in its mission to expand financial access across India. The company has entered into a Master Business Correspondent Agreement with Kotak Mahindra Bank, one of India's premier banking institutions. This transformative partnership is expected to redefine the financial landscape and foster inclusive growth.
Oct 18, 2023, 10:57 am IST
Wipro Shares In Green Ahead Of Q2; IT Services Revenue May Fall In The Quarter
Azim Premji-backed Wipro shares are in focus on Wednesday ahead of their September quarter earnings for FY24. Wipro shares traded near its day's high in the early deals, and have gained over half a per cent ahead of the Q2FY24 numbers. In the quarter under review, the tech player is expected to record a decline in its IT services revenue, while EBIT margin may stay steady. A cut in the FY24 guidance is also on the cards.
HUDCO Shares Fall Highest In A Year After Govt Kick Starts OFS To Sell 7% Stake
HUDCO shares dropped nearly 9% after the Government announced it would sell up to 7% stake in the housing finance company through an Offer for Sale
Oct 18, 2023, 10:28 am IST
Jio Financial Shares Fall Today Despite Reporting 101% Jump In Net Profit
Shares of leading NBFC sector stock Jio Financial Services Ltd witnessed a fall of 0.80% in morning trade today to 220.00 per share. Earlier on October 16, the company announced surge of 101% QoQ in its net profit to Rs 668 crore for July-September quarter, its first quarterly statement after it got listed on the bourses on August 21, 2023.
Oct 18, 2023, 10:24 am IST
Biocon Skids 4% after US FDA Red Flags Malaysia Unit
Biocon said its Malaysian insulin manufacturing facility was classified as Official Action Indicated by the US Food and Drug Administration, according to a moneycontrol report.
Oct 18, 2023, 10:17 am IST
Orient Cement gains over 8% on reports of stake sale talks with Adani
Orient Cement was trading at Rs 203 on BSE, at 1000 IST up 7.5 percent from its previous close. The stock has seen a 65 percent rise so far this year.
Oct 18, 2023, 9:41 am IST
Market Outlook Today
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, the tragic incident in the Gaza hospital has confounded the already confused developments. We are in uncharted territory. While hoping that things won’t get worse let us look at the broad trends.
In spite of the tragic geopolitical developments, globally markets are resilient. There are two main reasons for this. One, the US economy continues to be strong and this is supporting the mother market and thereby other markets, too. Two, the market view is that the Fed will succeed in soft landing the US economy and avert a recession. Back home in India the resilience of the Indian economy and improving macros are supporting the market. The recent experience is that geopolitical developments will not impact the markets for long. For instance, the market is ignoring the ongoing Ukraine war.
Even while remaining vigilant, market weakness can be used to buy high quality stocks, particularly in sectors like financials, automobiles and capital goods.
Oct 18, 2023, 9:40 am IST
USD-INR Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services said, The dips to 83.14 found buying interest again, on anticipated lines. Ideally this sets up an upmove aiming 83.4-83.75 very soon. However, given the lack of momentum lately on the upside, a repeat attempt on the 83.14-83.07 region could expose 82.78.
Oct 18, 2023, 9:39 am IST
Nifty Derivative Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services said, Nifty weekly contract has highest open interest at 20000 for Calls and 19700 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19500 for Puts. Highest new OI addition was seen at 20000 for Calls and 19800 for Puts in weekly and at 19900 for Calls and 19800 for Puts in monthly contracts. FIIs increased their future index long position holdings by 4.93%, decreased future index shorts by 3.36% and increased index options by 30.55% in Call longs, 4.35% in Call short, 0.43% in Put longs and decreased 24.54% in Put shorts.
Oct 18, 2023, 9:39 am IST
Nifty Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services, said It was not surprising to see the positive bias fizzling off once inside the 19800-840 region yesterday. The turn lower thereof has not tipped the trend into the weak zone, encouraging us to start the day on a positive note expecting 19900. But as maintained in the last two days, positivity can evaporate quickly should we get back below 19650s again, and towards this end, it would be important to hold above 19820 after upside attempts.
Oct 18, 2023, 8:45 am IST
IIFL Securities Shares To Remain In Limelight As Total Income For Q2 Soars 65% YoY
The firm said on Tuesday that its total income for the quarter was Rs 533.7 Cr (up 65% year on year) and for the half year was Rs 944.7 Cr (up 53% y-o-y). Assets under management and custody were Rs. 1,69,822 Cr in Q2FY24. Subject to shareholder and regulatory approval, the Board has authorised the appointment of Mr. Nemkumar H as a Whole-Time Director of the Company.
Oct 18, 2023, 8:43 am IST
Wipro Shares To Be In Focus As IT Giant To Announce Q2 FY24 results
The IT giant is scheduled to release its Q2FY24 results today. Last week, the company successfully acquired a 9.95 percent shareholding in FPEL Ujwal, a corporation that develops, builds, and manages a portfolio of solar power assets. The purchasing price was Rs. 6.3 crore.
Gold prices in India continued to loose its shine on Tuesday tracking downside trends of international prices. The 24-carat yellow metal has erased its Rs 60,000 mark, while the 22-carat came below Rs 55,000 levels. MCX gold futures is also in red, while comex gold continues to be under pressure. Gold which saw huge buying last week as the Israel-Hamas war tapped the need for safe-haven assets, however, this week, the bullions could not sustain their performance owing to higher-than-expected US inflation data.
Happiest Minds Technologies declared 1.6% YoY degrowth in its September quarter net profit at Rs 58.46 crore as against Rs 59.41 crore. Total Income of the company stood at Rs 428.83 crore. It also announced an interim dividend of Rs 2.50 per equity share of face value Rs 2 for the financial year 2023-24.
Oct 18, 2023, 8:38 am IST
Bajaj Finance Q2 Results: PAT Up 28% To Rs 3,551 Cr, NII Climbs 26% YoY
Bajaj Finance Limited (BFL) declared its profit after tax climbed by 28% in the second quarter of FY24, from Q2 FY23's PAT of Rs 2,781 to Rs 3,551 crore. Net interest income for the firm rose from Rs 7,002 crore in Q2 FY23 to Rs 8,845 crore in Q2 FY24, a 26% rise. Its Assets Under Management (AUM) increased from Rs 218,366 crore on September 30, 2022, to Rs 290,264 crore on September 30, 2023, a 33% growth. AUM climbed to Rs 20, 167 crore in Q2 FY24. According to Bajaj Finance, the number of new loans booked during the second quarter of FY24 jumped by 26% to 8.53 million from 6.76 million in the second quarter of FY23.
Oct 18, 2023, 8:31 am IST
Stock Market Today: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
On the daily charts the Nifty broke the Inside bar pattern on the upside which has bullish implications. The daily and hourly momentum indicator has a positive crossover which indicates that the dips should be bought into. On the upside the index is likely to continue its rally towards 19883 and beyond that potentially towards 20030. On the downside the key hourly moving averages placed in the range 19770 – 19750 are likely to act as a cushion in case of a dip.
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