The Indian equity market snapped a three day losing streak on Tuesday as the two benchmark indices bounced back and ended in the green today.
The BSE Sensex jumped 0.39% to end at 66,428.09 points, while the Nifty closed 0.40% higher at 19,811.50 points. Top gainers on the Nifty were BPCL, Power Grid Corporation, SBI Life Insurance, HDFC Life and Coal India. Indian rupee ended flat at 83.26 against the US Dollar on Tuesday versus Monday's close of 83.28.
Indian markets gained momentum with the Sensex crossing over the 66,500 mark and Nifty 50 nearing 19,850 levels due to broad-based buying across sectoral indices. Banking, Financials, FMCGs, Pharma and Oil & Gas stocks drive the performance. Stocks like Power Grid, Bharti Airtel and NTPC are top gainers, while L&T, Tata Motors and Asian Paint shares emerged as top laggards.
Sensex gained over 325 points, while Nifty 50 was above 100 points as the trading sessions stepped into the second leg of the day. Bank Nifty zoomed over 260 points. While India's volatility index dipped 3.4%.
Companies like Bajaj Finance, Can Fin Homes, L&T Tech Services, ICICI Pru Life, Tata Elxsi, Tata Metaliks and Syngene are scheduled to report their Q2 earnings today. Accordingly, these stocks are in focus.
Nifty has seen sluggish mover over the last two sessions and has been trading in a narrow range. HDFC Bank, which is the heaviest stock on the index is reacting to its Q2 earnings, i.e. first earnings report of the merged entity. The share surged by 2% after Q2 numbers.
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Oct 17, 2023, 3:54 pm IST
Sensex, Nifty Break Three Day Losing Streak To Close Over 0.35% Higher, Indian Rupee Ends Flat
The Indian equity market snapped a day losing streak on Tuesday as the two benchmark indices bounced back and ended in the green today.
The BSE Sensex jumped 0.39% to end at 66,428.09 points, while the Nifty closed 0.40% higher at 19,811.50 points.
Indian rupee ended flat at 83.26 per dollar on Tuesday versus Monday's close of 83.28. Top gainers on the Nifty were BPCL, Power Grid Corporation, SBI Life Insurance, HDFC Life and Coal India.
Oct 17, 2023, 3:15 pm IST
Top 5 Gainers and Losers Today
Source:NSE
Oct 17, 2023, 3:00 pm IST
KIOCL Shares Hit 20% Upper Circuit On Resumption Of Pellet Plant Ops In Mangalore
KIOCL shares skyrocketed 20% at Rs 476.40 per share at 10:42 am IST on Tuesday. The stock hit a new 52-week high after the company announced that the Pellet Plant Unit of KIOCL in Mangalore resumed operations on October 14, 2023.
Cryptocurrency Price Today October 17: Bitcoin Price Gains 2.01% At USD28,441.38; Shiba Inu Rises 208%
The global crypto market cap rose 1.09% at .09 Trillion on Tuesday. Bitcoin price surged 2.01% at ,441.38 per token today. Shiba Inu price gained 208.38% at {live-blog}.00000000271 per token on Monday. At this price, the meme currency Shiba Inu has a market cap of .92 million.
Oct 17, 2023, 1:55 pm IST
KEC Internatioal Share Price
KEC International shares witnessed a rally of over 1.00% intraday with volumes soaring by over 2.99 times. KEC International on October 16, 2023 informed BSE that it bagged new orders worth Rs 1315 crore across its several businesses. Last trading price of KEC International share on BSE is Rs 658.80 per share.
Oct 17, 2023, 1:54 pm IST
Stocks Touched 52-Week Lows Today
Meanwhile, about 15 stocks had touched a new 52-week low on BSE. These included VMart, Aanchal Ispat, Progrex Ventures, Jaihind Synthetics, and Kaiser Corporation among others.
Oct 17, 2023, 1:54 pm IST
Stocks Touched 52-Week Highs Today
As of now, on BSE during Tuesday's session, 314 stocks have hit new 52-week highs including Aurionpro Solutions, Birlasoft, Dixon Tech, Coal India, CSB Bank, Chennai Petroleum, Everest India, HDFC AMC, and GAIL among others.
Oct 17, 2023, 1:31 pm IST
BSE Losers:
Agi Greenpac, Dalmia Bharat, Trident, GNFC, and Solar Industries are top losers of BSE with downside ranging from 2% to 3%
Oct 17, 2023, 1:30 pm IST
BSE Gainers
KIOCL, Chennai Petroleum, MRPL, Va Tech Wabag, and IRCON are top gainers of BSE with an upside of 10% to 20%
Oct 17, 2023, 1:15 pm IST
India GDP Growth Pegged At 6.3%
Ficci released its most recent Economic Outlook Survey on Monday, predicting 6.3% growth in the economy in FY24. Contributing factors are anticipated to include the strong financial sector, strong urban demand, an increase in private investment over the government's front-loading of capital expenditures, a pick-up in real estate, and the festival season.
Oct 17, 2023, 1:00 pm IST
Crude Oil Prices
Brent Crude trades below per barrel. In the early trade, the benchmark crude oil traded at .82, up 0.2%. The day's range is 89.22 - 90.05. While US West Texas Intermediate crude (WTI) picked up by 0.3% to trade near .50 per barrel. The WTI's trading range is 84.75 - 85.69
for today.
Traders are hopeful that US may ease sanctions on producer Venezuela, alongside efforts to prevent the severity of Israsel and Hamas war.
Oct 17, 2023, 12:56 pm IST
Jio Financial Services Share Rallies
Jio Financial Services performed steadily on Tuesday after posting its first quarterly earnings since listing. In the September 2023 quarter, the company's net profit doubled driven by robust growth in interest and dividend income.
In the early trade of Tuesday, Jio Financial touched an intraday high of Rs 233.50 apiece on BSE, rising by 3.85% from its previous day.
Oct 17, 2023, 12:50 pm IST
Crypto Prices Today
On CoinMarketCap, the global crypto market cap is at .09 trillion, up by 0.51% over the last day. Also, the total crypto market volume over the last 24 hours is .49 billion, which makes a 137.12% increase.
The leader of the board, Bitcoin traded near ,275, up by 1.5% over the previous day. Ethereum climbed over , 580 levels.
Oct 17, 2023, 12:38 pm IST
Gold Prices Today
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.
Oct 17, 2023, 12:09 pm IST
HDFC Bank Shares Reaction To Q2
The largest bank in India and in the private sector, HDFC Bank witnessed healthy buying on Tuesday after its Q2 results for FY24 which was broadly in line with the Street's expectations. Overall, the heavyweight stock has zoomed by nearly 2%. Although there were some HDFC merger shocks in the financial books of HDFC Bank, earnings have been steady. That is why, brokerages have recommended buying HDFC Bank shares on expectations of improvement in margins going forward.
Oct 17, 2023, 11:47 am IST
Metro Brands Shares Rally On Store Expansion of 800th In India
On Tuesday, Metro Brands Ltd. commemorated the inauguration of its 800th store in India, marking a significant turning point in its development strategy. The newest store to join the Metro Brands portfolio is a FitFlop store that is ideally situated in the vibrant metropolis of Hyderabad to serve a sophisticated clientele. The new FitFlop location in the Banjara Hills neighbourhood, with a total retail area of 716 square feet, offers a unique shopping experience while demonstrating FitFlop's seamless fusion of fashion with science and technology. With plans to open 200 stores by FY 2025, Metro Brands Ltd. is continuing its growth efforts and reaffirming its commitment to provide customers a wide range of options and access to top-notch footwear while solidifying its position as a retail powerhouse in India. As of June 30, 2023, the company operated 766 stores in 182 cities in 31 Indian states and union territories. On Tuesday, the shares of Metro Brands were trading 3% higher at Rs 1,218.70.
Oct 17, 2023, 11:41 am IST
Persistent Systems In Focus
In an announcement titled "Persistent Creates History with Three Guinness World Records Titles" and dated October 17, 2023 the company said for the purpose of demonstrating its dedication to the environment and employee wellness, the set three GUINNESS WORLD RECORDS: the largest bicycle logo/image, the most live viewers of a YouTube video lesson on cycling awareness, and the largest online video album of people riding bicycles.
Oct 17, 2023, 10:44 am IST
Maruti To Issue 1.2 Crore Equity Shares To Suzuki Motor Corp
The shares of Maruti Suzuki stage a sharp fall after the company announces to issue 1.23 crore equity shares worth nearly 13,000 crore to Suzuki Motor Corporation on a preferential basis. The stock has fallen more than 1% from intra-day highs and is is currently trading at 10,663 per share.
Oct 17, 2023, 10:11 am IST
Tyre Stocks Surge Post Healthy Ceat Q2 Results
Tyre stocks were seen on a rise after Ceat reported a strong set of second quarter earnings. Peers like JK Tyres, Apollo Tyres and MRF surge up to 11%. MRF hits record high of 1.13 lakh per share.
Oct 17, 2023, 9:41 am IST
Market Opens Higher, Nifty Rises Above 19,800
Market opens with healthy gains on Tuesday, Nifty rises above 19,800 mark, Sensex climbs 300 points. Financials lend support, Bajaj twins become top gainers on Nifty; Divi's Laboratories is top Nifty loser.
Oct 17, 2023, 8:51 am IST
Jio Financial Services Q2 Net Rises 101% QoQ At Rs 668 Crore, Shares To Be In Focus Today
Jio Financial Services on October 16 announced a net profit of Rs 668 crore for the July-September period in its first quarterly result after it listed on bourses earlier this year in August, up 101% from the previous quarter. The non-banking financial company’s (NBFC) total income was at Rs 608 crore for the quarter. Whereas the lender's interest income was at Rs 186 crore, dropping from Rs 202 crore in the April-June FY24 quarter. Jio Financial Services shares closed for trading on October 16 at Rs 224.85 a piece on BSE, 0.13% up.
Oct 17, 2023, 8:48 am IST
ICICI Securities Q2 Net Profit Soars 41% To Rs 424 Crore, Shares To Remain In Focus
ICICI Securities on October 16 announced its consolidated net profit at Rs 423.63 crore for the September quarter of the current financial year, up 41.01% as against the year-ago period. The brokerage and research firm declared a profit of Rs 300.41 crore in the same quarter of the preceding fiscal. Revenue from operations surged to Rs 1,249 crore, up 45.49% from Rs 858.46 crore in the year-ago quarter. Board of directors also announced and approved a dividend of 12 per equity share and fixed the record date as October 27, 2023 for payment of dividend.
Oct 17, 2023, 8:45 am IST
BSE Sensex On Oct 17: Prashanth Tapse, Senior VP (Research), Mehta Equities
For today's trade, Prashanth Tapse, Senior VP (Research), Mehta Equities said, "If today's uninspiring session is any indication, then the market will waver and trade choppy in Tuesday's session as well. Technically, the confirmation of strength for Nifty only above its biggest hurdles at the 19887 mark, while the index has the biggest support at the 19509 mark."
Oct 17, 2023, 8:43 am IST
Grasim Industries To Raise Rs 4,000 Crore Via Rights Issue, Shares To Be In Focus
Grasim Industries On Monday, the board of Grasim Industries Limited approved the issuance of rights to the eligible shareholders as of the record date in order to raise a maximum of Rs 4,000 crore. The company has raised debt to partially finance its ongoing capex expenditure plan, and the money raised by this offering will primarily go towards the growth of capex as well.
Oct 17, 2023, 8:43 am IST
BSE Sensex On Oct 17, 2023: Vinod Nair, Head of Research at Geojit Financial Services
Talking about the October 17th performance, Vinod Nair, Head of Research at Geojit Financial Services said, "Persistent geopolitical tensions continue to weigh down the sentiment on equity, yet the mid- and small-cap index witnessed bargain hunting ahead of festival-driven demand and optimistic Q2 result. If the oil price moves higher in a sustained manner, it may elevate yields and operation costs, potentially straining margins in H2FY24. As the earnings season gets into full swing, investors will be more inclined to take a bottom-up approach to restructure their portfolios."
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