Indian equity markets ended lower after a volatile session on October 11, with the Nifty closing below the 25,000 mark. The Sensex dropped 230.05 points, or 0.28%, to settle at 81,381.36, while the Nifty slipped 34.20 points, or 0.14%, closing at 24,964.30. Advancing shares numbered 2,040, while 1,675 shares declined, and 119 remained unchanged.
Top losers on the Nifty included M&M, TCS, ICICI Bank, Cipla, and Power Grid Corp, while gainers were Trent, Hindalco Industries, HCL Technologies, Tech Mahindra, and ONGC. Sector-wise, auto, bank, power, and realty stocks fell by 0.5%, while IT, metal, oil & gas, pharma, and media gained between 0.5% to 1%. The BSE midcap and smallcap indices each rose by 0.4%.
In the currency market, the Indian rupee dropped 10 paise to close at a record low of 84.07 per dollar, down from Thursday's close of 83.97.
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Oct 11, 2024, 4:02 pm IST
Market Ends With Cuts
Indian equity markets ended lower after a volatile session on October 11, with the Nifty closing below the 25,000 mark. The Sensex dropped 230.05 points, or 0.28%, to settle at 81,381.36, while the Nifty slipped 34.20 points, or 0.14%, closing at 24,964.30. Advancing shares numbered 2,040, while 1,675 shares declined, and 119 remained unchanged.
Oct 11, 2024, 3:31 pm IST
Wockhardt's Antibiotic Miqnaf Receives Positive Nod from CDSCO
The Subject Expert Committee (SEC) of India's Central Drugs Standard Control Organization (CDSCO) has given a favorable recommendation for Wockhardt’s innovative antibiotic Miqnaf (nafithromycin). This new drug has been developed for the treatment of Community-Acquired Bacterial Pneumonia (CABP) in adults.
Oct 11, 2024, 1:03 pm IST
Rupee hits all-time low
Amidst rising Brent crude oil prices and tensions in West Asia, the rupee broke over the 84 mark vs the US dollar. At 12.57 IST, the value of the domestic currency was Rs 84.07 against per dollar.
Oct 11, 2024, 1:03 pm IST
Rupee hits all-time low
Amidst rising Brent crude oil prices and tensions in West Asia, the rupee broke over the 84 mark vs the US dollar. At 12.57 IST, the value of the domestic currency was Rs 84.07 against per dollar.
Oct 11, 2024, 12:49 pm IST
Top 5 Gainers And Losers Today
Stock Market Live Updates
Oct 11, 2024, 11:39 am IST
IREDA Share Price After Q2
The shares of the Indian Renewable Energy Development Agency (IREDA) continued their upward march, gaining over 1% in a weaker market, as investors celebrated the PSU's robust fiscal second-quarter earnings. The state-owned renewable energy financing entity reported a 36% year-on-year (YoY) increase in net profit, reaching Rs 387.75 crore for the July-September period.
Oct 11, 2024, 11:09 am IST
Garuda Construction IPO
Garuda Construction and Engineering IPO: The Rs 264.10 crore IPO will carry its allotment of shares on October 11, after receiving 7.55x oversubscription during the bidding period. The proposed equity shares are likely to be listed on BSE and NSE next week.
Oct 11, 2024, 10:25 am IST
TCS Share Price Falls After Q1
This Tata giant stock tumbled by 1.1% on BSE, to trade at Rs 4181.95 apiece. This comes after TCS missed estimates in Q2FY25. The late Ratan Tata-backed TCS earned a consolidated net profit of Rs 11,909 crore in Q1FY25, registering growth of 5% YoY. On the top-line front, revenue climbed 8% YoY to Rs 64,259 crore.
Oct 11, 2024, 9:54 am IST
PTC Industries Shares In Focus
PTC Industries Limited is pleased to have Mr. Kamesh Gupta join its board as an Independent Director. Mr. Gupta is a seasoned professional who has worked mostly with the illustrious Tata Group for more than three decades.
Oct 11, 2024, 9:38 am IST
Stock Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Market is likely to remain volatile in the near-term alternating between FII selling and DII buying. Attractive valuations in other markets, particularly in Chinese stocks, will facilitate further selling by FIIs in India since Indian valuations are elevated. Concerns of earnings downgrades in H2 FY 25 render Indian valuations difficult to sustain. However, the sustained flows into the domestic mutual funds, where monthly SIPs have set a new record of Rs 24500 in September, will ensure that all FII selling will be easily absorbed by DII buying. This has been the trend in October so far. A healthy trend in the market is the leading private sector banks getting accumulated and showing resilience even in a weak market. This is the most attractively valued segment in this market where there is no valuation comfort. Lot of stock-specific action can be expected in the coming days in response to Q2 results. Banking and IT are likely to post reasonably good results.
Oct 11, 2024, 9:07 am IST
Bank Nifty Prediction Today By Om Mehra, Technical Analyst, SAMCO Securities
Nifty Bank formed a bullish daily candle as it moved above the 23.6% Fibonacci retracement level at 51,220, with the next resistance at 51850, aligning with the 38.2% retracement. On the hourly chart, Nifty Bank has bounced from the previous support of 51,200. However, the daily RSI hovers around 45, suggesting slightly weaker momentum. Nifty Bank may consolidate within a broader range between 51,000 as support and 52,100 as resistance. A breakout on either side could set the tone for the next directional move.
Oct 11, 2024, 9:07 am IST
Nifty Prediction Today By Om Mehra, Technical Analyst, SAMCO Securities
The Nifty continues to trade below the 50 DMA, which aligns with the 50% Fibonacci retracement level. This suggests that the market could remain range-bound, fluctuating within the Bollinger Bands, with the lower band near 24,880 and the upper band around 25,220. A bullish breakout may be confirmed if Nifty decisively crosses the 25,350 level.
Oct 11, 2024, 8:50 am IST
Bank Nifty Options Market Insights
Significant open interest is concentrated at the 52,000 strike calls (16.83 lakh contracts) and 51,000 puts (17.98 lakh contracts). Trading activity between 51,500-51,600 calls and 51,300-51,400 puts suggests resistance near 51,500-51,800 and support between 51,200-51,400, reflecting a mildly bullish sentiment. Increased put writing at 51,000-51,400 indicates a shift in positioning, while the calls unwinding points to an emerging bullish momentum. The put-call ratio (PCR) has climbed to 1.07 from 0.73, signalling a bullish tilt as put writers dominate. The max pain level is at 51,100, serving as a key pivot, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Oct 11, 2024, 8:49 am IST
Nifty Bank Outlook
Despite the recent gains, the index has faced strong resistance around the 51,700-51,800 level over the last two trading days. On the hourly chart, the index has broken out from a downward-sloping channel and is showing signs of reversal by forming higher lows on intraday charts. A sustained move above 51,800 would confirm the reversal, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Oct 11, 2024, 8:12 am IST
Nifty Outlook
“The Nifty's outlook is neutral, with the index trading between 25,250 and 24,700. The significant open interest at these levels reflects a standoff between buyers and sellers. The lower high-lower low structure on the hourly chart positions 25,250 as crucial resistance and 24,800 as strong support. Until a breakout occurs, a range-bound trading strategy is advisable, with a decisive move beyond this range likely to dictate the next trend,” said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Oct 11, 2024, 8:11 am IST
Market Volatility
India VIX declined by 4.44% to close at 13.49. The sustained VIX levels below 15, with a 13% drop over the last three trading sessions, suggest potential strengthening of bullish momentum, as lower volatility tends to attract more buyers, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Oct 11, 2024, 8:10 am IST
Options Market Insights By Dhupesh Dhameja, Technical Analyst, SAMCO Securities
Bearish sentiment persists in the options market, with call writing outpacing put writing, reflecting caution among traders as sellers remain dominant. Significant open interest is concentrated at the 25,000 strike for both calls (2.80 crore contracts) and puts (2.63 crore contracts), suggesting a sideways sentiment. Active trading between 25,050-25,100 calls and 24,850-24,900 puts points to resistance near 25,000-25,200 and support at 24,750-24,800. The increased activity between 25,000-25,200 and 24,700-24,800 indicates a tug-of-war between buyers and sellers, with a breakout likely to set the direction for the index. The put-call ratio (PCR) rose to 0.73 from 0.61, maintaining a bearish stance with call writers in control. The max pain level remains at 25,000, acting as a pivotal point for future moves.
Oct 11, 2024, 8:09 am IST
Nifty struggles at 25.2K resistance, holds above 24,700 support
The past two sessions saw strong resistance near the 25,200 level, leading to the erasure of intraday gains. The index remains within the prior day's range of 25,234 to 24,950. On the hourly chart, Nifty continued its pattern of lower highs and lower lows, with 25,250 emerging as a key resistance and 24,800 as a key support. The inability to reclaim the 25,000 mark highlights immediate resistance due to significant call writing at this level, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
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