Stock Market Live Updates: Market Ends With Deep Cuts, Sensex Sheds 900 Points

Indian market ends with losses for the sixth consecutive session. Sensex stages a massive decline of 901 points to end at 63,149, while Nifty falls 265 points to close at 18,857. Nifty Bank ends 552 points lower at 42,280 and Midcap Index slides 448 points to 38,116. This is the longest losing streak the Indian market has posted since February of this year. Out of the 50 Nifty stocks, 46 of them ended the session lower.

Paint giant Asian Paints reported a volume growth of 6% in second quarter. The domestic coatings business, decorative and industrial combined, registered a subdued 1.1% revenue growth during the quarter.

"There is risk-off in global equity markets triggered by a combination of economics and geopolitics. The Israel-Hamas conflict continues to be a major headwind for markets," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

From the pack of Sensex, shares of Sonata Software and Axis Bank emerged as gainers with the gain of over 4% and 1.23%. Meanwhile, shares of M&M fell over 3% till noon trade as Tech Mahindra, Bajaj Finance, Nestle and HDFC Bank declined over 2% today.

Traders will focus on the US GDP data which is scheduled for later in the day. At home, the domestic market will also perform on the F&O expiry day.

Apart from this, Adani shares will be in focus, coupled with Tech Mahindra, Axis Bank, Indus Tower and Sonata Software among others as they have declared their Q2 earnings. Meanwhile, Colgate-Palmolive, and Vodafone Idea will be in focus ahead of their quarterly results.

The support for Nifty 50 is around 19,000, however, the possibility of the benchmark erasing this mark is also high due to volatility. Nevertheless, resistance could be seen in the range of 19,200 to 19,300.

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Oct 26, 2023, 3:45 pm IST

Market Ends With Deep Cuts, Sensex Sheds 900 Points

Indian market ends with losses for the sixth consecutive session. Sensex stages a massive decline of 901 points to end at 63,149, while Nifty falls 265 points to close at 18,857. Nifty Bank ends 552 points lower at 42,280 and Midcap Index slides 448 points to 38,116. This is the longest losing streak the Indian market has posted since February of this year. Out of the 50 Nifty stocks, 46 of them ended the session lower.

Oct 26, 2023, 3:03 pm IST

ACC Rises From Lows Following Q2 Results

The shares of ACC reversed losses on an intra-day basis to trade nearly 1% higher after the cement giant reported its second quarter earnings. Adani Group subsidiary ACC’s revenue for the July to September surged more than 11% on a year-on-year basis to Rs 4,435 crore, whereas the cement company also reported a profit of Rs 384 crore versus loss of Rs 87 crore in the corresponding quarter of the previous year.

Oct 26, 2023, 2:35 pm IST

Market Under Pressure, Sensex, Nifty Down 1.5% Each

The Indian equity market continues to register a decline for the sixth straight session. Nifty breaks below the crucial 18,900 mark with 45 out of its 50 constituent trading with losses. Mahindra and Mahindra, Bajaj Finance, UPL and Tech Mahindra are top index losers, while Axis Bank, ITC and HCLTech gain in a subdued day.

Oct 26, 2023, 2:15 pm IST

Stock Market Statistics

Source:NSE

Oct 26, 2023, 2:13 pm IST

Top 5 Gainers and Losers Today

Source:NSE

Oct 26, 2023, 12:58 pm IST

Embassy REIT Records 2 Million Square Feet of Total Leases & Raises Leasing Guidance for FY2024

The Embassy REIT has released its 2Q FY2024 financial and operating results. Delivers record total leases of 2 Million Square Feet and upgrades FY2024 leasing guidance. In 25 transactions, the business signed 7 new leases totalling over 100k square feet, indicating a resumption of the significant deal closing. It also leased a record 2 million square feet across new leases. Global Captive Centres (GCCs) have significant demand, making up more than 70% of all leasing activities. The demand was highest in Bengaluru and Mumbai, which accounted for 90% of all leases during the quarter. The firm reported 4% YoY growth in revenue from operations to Rs 889 crores during Q2FY24. It also delivered distributions of Rs 524 crores, or Rs 5.53 per unit, for the 18th consecutive quarter in which payouts were 100%. The company's strong balance sheet, with twin AAA/Stable credit ratings and the lowest industry average cost of debt at 7.4%, allowed it to gain the first-ever participation from pension funds in the Rs 1,000 crore fresh NCD offering. It also earned the lowest spread over G-Sec, at 121 bps. During its board meeting earlier today, the Board of Directors of Embassy Office Parks Management Services Private Limited (EOPMSPL), Manager to Embassy REIT, announced a distribution of Rs 524 crores, or Rs 5.53 per unit, for the second quarter of FY2024. The distribution for the second quarter of FY2024 will be paid on or before November 10, 2023, with the record date being November 03, 2023.

Oct 26, 2023, 12:42 pm IST

Jubilant FoodWorks Tanks 5% On Weak Q2 Results

After Jubilant Foodworks Ltd. on October 25 announced a consolidated net profit of Rs 97.20 crore for the September quarter of FY24, down 26% from Rs 131.52 crore in the same period the previous year, the company's shares were trading 5% down at Rs 505 each on Thursday. According to a regulatory filing, the company's total revenue climbed to Rs 13,68.63 crore in Q2FY24 from Rs 1,301.48 crore in the same quarter last year, a 5.15 per cent growth.

Oct 26, 2023, 12:35 pm IST

IRFC Shares Trade In Red For 4th Day Today

Shares of IRFC continue to trade in the red for the fourth day today. down 5%. Indian Railway Finance Corporation Ltd shares declined 5.15% intraday today. Indian Railway Finance stock fell 14% in last 1-week. IRFC gained 89% in last 3-months.

Oct 26, 2023, 12:13 pm IST

Zen Technologies Shares Rally By 4% On Securing Order From Ministry of Defence

Zen Technologies Limited is happy to announce that the Indian Ministry of Defence has given it an order for their cutting-edge Force-On-Force Tank training system, valued at about Rs 100 Cr (inclusive of taxes). With the help of this cutting-edge system, Tank Units and Sub-Units may train with their equipment in real-world scenarios on real terrain without using live ammunition. Post the announcement, the shares of Zen Technologies were trading 4% higher at Rs 699 on Thursday.

Oct 26, 2023, 11:58 am IST

Marico Appoints Mr. Koteshwar L N As Executive Vice President & Head Digital Business

Marico today appointed Mr. Koteshwar L N as Executive Vice President & Head Digital Business with effect from November 1, 2023. He will be responsible for overseeing the Company’s digital businesses. With almost 21 years of expertise, Mr. Koteshwar L N has worked for companies like Flipkart and The Coca-Cola Company. After earning his engineering bachelor's degree from Osmania University in 2000, Mr. Koteshwar began working with Wipro Technologies as an engineer. In 2004, he graduated with a Master of Business Administration from FMS, Delhi.

Oct 26, 2023, 11:35 am IST

Power Grid Corporation of India Sets Record Date For Interim Dividend

A meeting of the Board of Directors of POWERGRID is scheduled to be held on Tuesday, 7th November, 2023 to consider and approve the financial results of the company for the quarter and half year ended 30th September, 2023. The Board has also fixed Thursday, 16th November, 2023 as the record date for the purpose of ascertaining the eligibility of the shareholders for payment of interim dividend, if declared, by the Board of Directors.

Oct 26, 2023, 11:22 am IST

Stock Market Statistics

Source:NSE

Oct 26, 2023, 11:16 am IST

Top 5 Gainers and Losers Today

Source:NSE

Oct 26, 2023, 11:13 am IST

Star Housing Finance Plunges 2% After Q2 Results

Star Housing Finance's shares were down 2% on Thursday, trading at Rs 59. The company's AUM climbed 110% YoY to Rs. 319.43 crs in Q2FY24. The Company disbursed Rs. 108.30 crs registering y-o-y growth of 49%. The asset quality of the firm is still intact, as shown by PAR, which is 4.52% as of September 30, 2023, with GNPA at 1.46% and NNPA at 1.08%. For the half-year, interest income jumped by 92.88% year on year, while total income increased by 75.53% YoY. PBT and PAT saw year-on-year growth of 26.25% and 50.16%, respectively.

Oct 26, 2023, 11:00 am IST

Rupee Depreciates 6 Paise At 83.23 Against US Dollar

In the early trade on Thursday, the domestic unit Indian Rupee remained on a downward track and fell 6 paise to 83.23 against the US dollar. The decline in the Indian Rupee was on the back of firm American currency and negative equity market sentiment.

Oct 26, 2023, 10:43 am IST

Adani Stocks Bleed As Adani Auditor EY Faces Probe By Accounting Regulator NFRA

The majority of Adani Stocks traded in the red on Thursday after a Bloomberg report highlighted that one of the Adani Group’s longtime auditors is being probed by India’s accounting regulator, the National Financial Reporting Authority (NFRA). Adani Enterprises shares fell over 2% at Rs 2,208.50, while shares of Adani Power and Adani Green were down over 4% at the time of writing this article.

Oct 26, 2023, 9:47 am IST

Sonata Software Shares Rise Almost 3% Following 10% YoY Growth In Net Profit

The share price of Sonata Software Ltd rose 2.74% at Rs 1071.00 per share on Thursday at 9:41 am IST after the company announced an interim dividend of Rs 7 per share for the financial year 2023-24. The record date for the purpose of payment of the interim dividend is November 7, 2023. In its results for the second quarter that ended September 30, 2023, the company reported 10% YoY growth in net profit at Rs 124.2 crore.

Oct 26, 2023, 9:07 am IST

Crypto Price Today October 26: Bitcoin Trades Above ,500 Level, Shiba Inu And Dogecoin Up Over 8%, Pepe Coin Skyrockets 27%

The cryptocurrency market traded higher on Thursday as most cryptocurrencies and meme coins traded in the green today. Bitcoin price continued to follow a bullish pattern, as the price of Bitcoin gained 2.06% at ,748.28 per token. The price of Dogecoin soared 8.77% at {live-blog}.07209 per token on Thursday. Shiba Inu price was up 9.94% at {live-blog}.000008195 per token, while the price of Pepe Coin (PEPE) skyrocketed 27.03% at {live-blog}.000001196 per token today.

Oct 26, 2023, 9:03 am IST

Rupee Outlook Today

Rahul Kalantri, VP Commodities, Mehta Equities: The USD/INR 27 October futures contract traded within a narrow range. Upon analyzing the daily technical chart, it's evident that the pair is currently trading below its moving average trend-line support level of 83.20, and the MACD is indicating a negative divergence. The technical setup reveals that the RSI is above the 50-level mark, but the pair is encountering significant resistance between 83.30 and 83.45.Based on the daily technical chart, the pair finds support at 83.05-82.92 and faces resistance at 83.30-83.45. To demonstrate further strength, the pair must breach and sustain a level above 83.22. Otherwise, it is likely to continue moving within the range of 82.92 to 83.45.

Oct 26, 2023, 9:02 am IST

Crude Oil Prices Outlook Today

Rahul Kalantri, VP Commodities, Mehta Equities: Crude oil exhibited significant volatility, with prices declining for the fourth consecutive session due to the strength of the dollar index and an increase in U.S. oil stocks. However, it rebounded from its daily low and closed in positive territory, driven by escalating conflicts in the Middle East. The Israeli Prime Minister, in a televised statement, announced Israel's preparation for a ground attack on Gaza. In response to heightened risk sentiments, crude oil prices reversed their downward trend and saw gains in international markets. Nonetheless, the increase in U.S. crude oil inventories last week, rising by 1.4 million barrels to reach 421.1 million barrels, tempered the overall gains. We anticipate that crude oil prices will maintain their volatility throughout the week, influenced by fluctuations in the dollar index and ongoing tensions in the Middle East. Crude oil finds support at the levels of .20–83.10, with resistance at .50-87.40 for today's session. In terms of the Indian Rupee (INR), crude oil has support at Rs. 965-6890, while encountering resistance at Rs. 7,145-7,230.

Oct 26, 2023, 9:02 am IST

Gold Prices Outlook Today

Rahul Kalantri, VP Commodities, Mehta Equities: Gold and silver exhibited substantial volatility before settling on a mixed note. The dollar index extended its gains following the release of better-than-expected U.S. new home sales data. Meanwhile, U.S. 10-year bond yields reached 16-year highs, curbing the advances of precious metals. Gold is displaying resilience amid ongoing conflicts in the Middle East and concerns about global economic growth. Additionally, a significant uptick in Chinese gold consumption is lending support to gold prices. According to the China Gold Association, there was a notable 7.32% increase in China's gold consumption during the first three quarters of 2023. Conversely, silver experienced modest profit-taking in response to weakness in the industrial metals sector. Anticipate continued volatility in today's session for both gold and silver prices. Gold finds support in the range of 70 to 58, with resistance at 96 to 10. Silver's support levels lie between .64 and .52, while resistance is at .10 to .28. In terms of INR, gold is supported at Rs 60,450 to Rs 60,220, and faces resistance at Rs 61,050 and Rs 61,260.

Oct 26, 2023, 8:35 am IST

Fertilizer Stocks In Focus

Fertilizers stocks will be in focus today after government approved a subsidy of ₹22,303 crore for Phosphatic and Potassic (P&K) fertilizers in the upcoming Rabi season for 2023-24. The subsidy will be provided based on approved rates for Rabi 2023-24, which will be applicable from October 1, 2023, to March 31, 2024. This move aims to ensure the availability of essential fertilizers to farmers at affordable prices, supporting the agricultural sector.

Oct 26, 2023, 8:07 am IST

Stocks To Watch

Adani shares will be in focus, coupled with Tech Mahindra, Axis Bank, Indus Tower and Sonata Software among others as they have declared their Q2 earnings. Meanwhile, ACC, Canara Bank, Colgate-Palmolive, Asian Paint, and Vodafone Idea will be in focus ahead of their quarterly results.

Oct 26, 2023, 8:07 am IST

Gift Nifty Today

In the early trade, Gift Nifty traded in red at 19,129.5 down by 47 points or 0.25%. The index broadly ranged from 19,181.5 to 19,122.5 respectively.

Oct 26, 2023, 8:06 am IST

Asian Shares In Red

Asian shares traded on a bearish note with Japan's Nikkei 225 slumping by 1.6%, and South Korea's KOSPI index dipped 1.5%. Also, Australian shares shed 0.9%, while Hong Kong's Hang Seng and China's mainboard SSE Composite Index dived over 0.3% each. They tracked the downfall in Wall Street.

Oct 26, 2023, 8:06 am IST

US Stocks

US stocks fell sharply on disappointing quarterly earnings of Google's parent Alphabet and higher interest rate scenario. S&P dropped below the 4,200 level for the first time since May. The Dow Jones Industrial Average dipped 105.45 points or 0.32%, while the S&P 500 index shed 60.91 points or 1.43%. It would be the tech-heavy index Nasdaq Composite that took the most hit with a downtrend of 318.65 points or 2.43% owing to soft earnings from IT biggies.

Oct 26, 2023, 8:05 am IST

Markets Performance Previous Day

Domestic equities were in a bloodbath on Wednesday with Sensex and Nifty 50 struggling to float above 64,000 and 19,000 marks. The 30-scrip benchmark ended at 64,049.06, nosediving by 522.82 points or 0.81%, while Nifty 50 slipped by 159.60 points or 0.83% to settle at 19,122.15. Bank Nifty shed 319.20 points or 0.74% to end at 42,832.