The Indian equity market closed lower on Monday. Today, the benchmark index Sensex fell 0.17% at 66,166.93 points, while Nifty was down 0.1% at 19,731.75 points. Top Gainers on Sensex were JSW Steel, Tata Steel, Axis Bank, HCL Tech, Power Grid, M&M, Power Grid, Titan, and NTPC. The share price of MMTC Ltd gained 13%, while Adani Power shares declined 4% at the market close.
The Indian rupee hit a 1-year low at 83.28 against the US dollar on Monday, marking its lowest level in one year against the greenback. According to Reuters, the rupee's drop comes amidst growing concerns about oil prices and as investors wait to see if the ongoing conflict in the Middle East draws in other countries.
Indian market traded on a volatile note with Sensex flirting near 66,300, while Nifty 50 stayed closer to 19,800 critical mark. There is cautious tone among investors amidst feeble global cues due to the slippery performance of Wall Street last week's Friday session on the backdrop of soaring crude oil prices. Also, the escalating war between Israel-Hamas has kept investors jittery.
LTIMindtree and ONGC are top Nifty gainers on Nifty while Nestle and Grasim fall the most. The September WPI has come in at -0.26% compared to -0.52% in the previous month.
Traders are likely to keep a focus on economic data along with Q2 earnings of major banks, auto, financials and oil companies. HDFC Bank is among the major Q2 results today.
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Oct 16, 2023, 3:51 pm IST
Sensex, Nifty Close Lower, MMTC Shares Up 13%, Adani Power Slumps 4%
The Indian equity market closed lower on Monday. Today, the benchmark index Sensex fell 0.17% at 66,166.93 points, while Nifty was down 0.1% at 19,731.75 points. Top Gainers on Sensex were JSW Steel, Tata Steel, Axis Bank, HCL Tech, Power Grid, M&M, Power Grid, Titan, and NTPC. The share price of MMTC Ltd gained 13%, while Adani Power shares declined 4% at the market close.
Oct 16, 2023, 3:28 pm IST
Indian Rupee Hits One-Year Low Against US Dollar
The rupee fell to 83.28 against the US dollar on Monday, marking its lowest level in one year against the greenback. According to Reuters, rupee's drop comes amidst growing concerns about oil prices and as investors wait to see if the ongoing conflict in the Middle East draws in other countries.
Oct 16, 2023, 3:18 pm IST
Top 5 Gainers and Losers Today
Source:NSE
Oct 16, 2023, 2:48 pm IST
MMTC Ltd Rally 10.84% at Rs 82.73 A Piece On Monday
The share price of MMTC Ltd rose 10.84% at Rs 82.73 per share at 2:44 PM IST on Monday. The recent jump in the stock's share price can be linked to the Government's nod to the amendment of the Second Schedule of the Mines and Minerals Act for specifying the rate of royalty with respect to three critical and strategic minerals, namely, Lithium, Niobium, and Rare Earth Elements. The approved royalty rates for lithium, Niobium, and REE are 3%, 3%, and 1%, respectively.
HDFC Bank Q2 Results Today: HDFC Shares In Focus Ahead Of Q2 Results
The share price of HDFC Bank was seen trading 0.62% lower at Rs 2729.95 per share in the intraday trading. The Bank Nifty index traded 0.01% higher at 19,752.95 points on Monday ahead of the announcement of Q2 results by HDFC Bank later today. The top gainers on the Bank Nifty today were Bandhan Bank, Axis Bank, Bank of Baroda, IDFC First Bank, and PNB.
Oct 16, 2023, 1:43 pm IST
Majority Adani Stocks Trade Lower
The share price of Adani group stocks including Adani Enterprises, Adani Power, and Adani Green Energy remained on investors' radar on Monday. This week a host of companies will be announcing their second quarter results keeping the Dalal Street busy.
Oct 16, 2023, 1:42 pm IST
Federal Bank Q2 Results
Federal Bank announced the Financial Results for the quarter ended 30th September 2023. The bank reported a highest-ever net profit of Rs 953.82 Cr in Q2FY24 up by 35.54% YoY from Rs 703.71 Cr in Q2FY23 and its net income stood at Rs 6185.70 Cr in the quarter under review up by 33.59% YoY posted in the year-ago quarter.
As of September 30, 2023, Net Interest Income (NII) climbed 16.72% from Rs. 1761.83 Cr in Q2FY23 to Rs. 2056.42 Cr. The annualised earnings per share (EPS) is Rs 16.57 and the bank's ROA and ROE for the quarter were 1.36% and 15.72%, respectively.
Oct 16, 2023, 1:22 pm IST
Delta Corp Share Bleeds
The share price of Delta Corp Ltd slumped 9.04% at Rs 127.35 per share at the time of writing on Monday. The sharp decline in Delta Corp shares was seen after the company informed that its subsidiary Deltatech Gaming Limited, has received an intimation for payment of Rs 6,384 crore owing to tax shortfall tax under Section 74(5) of the CGST Act, 2017 and West Bengal GST Act, 2017, from the Directorate General of GST Intelligence, Kolkata, on October 13,2023.
At one point, in today's intraday trading, the stock hit a 52-week low of Rs 126 per piece.
Oct 16, 2023, 12:33 pm IST
Adani Stock Alert
Adani Ports share price is under pressure due to backlog of ships growing at Israeli ports amidst reportedly preparations by the IDF to launch a ground assault the Gaza Strip which controlled by Hamas.
Earlier this year, Adani Ports acquired Haifa Port in Israel for .2 billion.
The Adani Group-backed port flagship company's stock price traded lower by 0.6% to Rs 808.70 apiece. So far in the day, the stock has dropped by nearly a per cent to hit an intraday low of Rs 805.55 apiece.
Its market value is over Rs 1.74 lakh crore.
Oct 16, 2023, 11:52 am IST
Top 5 Gainers and Losers Today
Source:NSE
Oct 16, 2023, 10:23 am IST
Market Climbs From Opening Lows, Nifty Near 19,750
As we enter the second hour of trade, Sensex and Nifty stage a notable recovery. Auto stocks lead gains, with Tata Motors trading hitting record high in today's session. The stock has been on a rising trend for the last 5 trading sessions.
Oct 16, 2023, 10:01 am IST
Tata Steel Long Products Trims Losses In Q2
Tata Steel Long Products posted its second quarter earnings over the weekend with the company recording a significant deduction in consolidated net losses. The stock snapped its two-day losing streak and is currently trading with gains of about 1%.
Oct 16, 2023, 9:53 am IST
Nifty PSU Bank Index Climbs Nearly 1%
PSU banks record gains in a subdued market with Nifty PSU Bank index climbing nearly 1%. Nine out of 12 PSU Bank constituent are currently trading with gains; Union Bank of India and Indian Bank are top gaining stocks on the index.
Oct 16, 2023, 9:26 am IST
HDFC Bank Share Price Ahead Of Q2
Private sector lender, HDFC Bank is in focus on Monday ahead of its September quarter earnings for FY24. This would be the first earnings after the merger of HDFC.
At the time of writing, HDFC Bank's shares traded at Rs 1,530.75 apiece, down by 0.4% on BSE. HDFC Bank is the largest bank and third largest company in India in terms of market share. On current market price, the m-cap of HDFC Bank is a little over Rs 11.60 lakh crore.
The stock traded in the range of Rs 1,536.70 and Rs 1,522 per share respectively.
Oct 16, 2023, 9:13 am IST
Dalmia Cement (Bharat) Limited Shares To Be In Focus Today
The Board of Directors of Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of the company at its meeting held on October 14, 2023, has approved the proposal to increase cement grinding capacity by 0.5 MTPA at Rohtas Cement Works, Bihar. In Q2FY24, the company's PAT climbed 161.7% YoY to Rs 123 Cr while revenue increased 6.0% YoY to Rs 3,149 Cr.
Oct 16, 2023, 9:13 am IST
HDFC Shares To Remain In Limelight
The Board of Directors of the HDFC Bank, at its meeting held on 15th October, re-appointed Mr. Sandeep Parekh as an Independent Director of the bank for a period of 3 years from January 19, 2024 to January 18, 2027.
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