Stock Market Live Updates: Sensex Sheds Over 370 Points, Nifty Below Rs 19700; SBI Tanks Over 2%

Indian equity market witnessed sharp decline on Friday, October 13 as leading IT companies such as Infosys and HCL Technologies lowered growth forecast for the FY 2023. S&P BSE Sensex declined 381.04 points or 0.57% to 66,027 and Nifty 50 fell 107 points or 0.54% to 19,686 at 11:21 am.

Meanwhile, shares of State Bank of India fell 1.70% intraday to 576.25 at 11:22 am. Infosys shares slipped 2.49% at 11:23 am to 1428.05 after surprise cur in company's growth guidance despite a resilient performance in September quarter. Treasury yields gained momentum and US market ended bearish.

On Thursday, Sensex ended at 66,408.39, down by 64.66 points or 0.10%, while Nifty slipped by 17.35 points or 0.09% to settle at 19,794.

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Oct 13, 2023, 2:56 pm IST

Top 5 Gainers and Losers Today

Source:NSE

Oct 13, 2023, 2:11 pm IST

Zomato Shares Hit 52-Week High For 3rd Day In A Row, Should You Buy Or Sell?

Leading online food delivery provider Zomato Ltd shares have been witnessing an upward rally for the last three days on the bourses. Zomato shares hit fresh 52-week high for 3rd day in a row now. Zomato stock gained 0.96% intraday on BSE and volume also surge by more than 2.15 times on October 12 and by 1.34 times on October 11. Brokerage firm, ICICI Securities appear bullish on Zomato shares and assigned buy call with target price of Rs 160 apiece, indicating an upside of 44.34% if investors buy Zomato stock at current market price of Rs 110.85 per share.

Oct 13, 2023, 2:10 pm IST

Multibagger Stock Hits 52W-High As NR Narayana Murthy Buys 1.12% Stake

Gokaldas Exports, a mid-cap company in the consumer discretionary category, started trading today on the NSE at Rs. 852.40 per share. During the morning trades, the stock gained 3.70% to reach a new 52-week high of Rs. 884. After venture capital company Catamaran Ventures LLP, headed by Infosys co founder NR Narayana Murthy, acquired a 1.12 per cent stake in the apparel manufacturing company, the multibagger stock saw a rise in the morning deals.

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Oct 13, 2023, 2:08 pm IST

Adani-Hindenburg Case: Supreme Court Defers Hearing till October 20; Stocks Fall

Adani Enterprises shares fell over 3%, followed by Adani Power, Adani Total Gas, and Adani Wilmar which declined over 1%, while Adani Ports & SEZ, Adani Energy Solutions and Adani Green Energy fell in the range of 0.7%-1%.

Oct 13, 2023, 1:26 pm IST

SJVN Rallies 4% As Subsidiary Secures 100 MW Solar Power Order Worth Rs 600 Cr

After its subsidiary won a renewable energy project worth Rs 600 crore in Rajasthan on Friday, SJVN's shares were trading 3.15% higher at Rs 73.10 in the afternoon transactions. Rajasthan Urja Vikas Nigam (RUVNL) has awarded SJVN Green Energy, a subsidiary of SJVN, a Letter of Award (LOA) for the building of a 100 MW solar power project at a rate of Rs 2.62 per unit.

Oct 13, 2023, 12:46 pm IST

IOCL Gains As Board Approves Anuj Jain As CFO

On Friday, the shares of Indian Oil Corporation Ltd (IOCL) opened on the BSE at Rs 90.30 and gained 1.05% to hit an intraday high of Rs 91.25 after Shri Anuj Jain, the company's Director of Finance, was named the CFO of Indian Oil Corporation with effect from October 9, 2023.

Oct 13, 2023, 12:25 pm IST

Paytm Trades Lower As RBI Slaps A Monetary Penalty of Rs 5.39 Cr

One 97 Communications' shares were down 0.33% on Friday to Rs 954.35 after the Reserve Bank of India (RBI) announced in a press release dated October 12 that Paytm Payments Bank had been fined Rs 5.39 crore for violating KYC regulations.

Oct 13, 2023, 11:30 am IST

Rs 12.70/Share Dividend For FY24: Mid Cap Stock Declares 38% QoQ Surge In PAT

Mid cap financial services sector stock, Angel One Ltd today declared 2nd interim dividend of Rs 12.70 per share on equity share having face value of Rs 10 per share. The company earlier fixed October 20 as the record date. Last trading price of Angel One share on BSE is Rs 2103.65 per share with intraday fall of 0.03%. The company also announced its unaudited standalone and consolidated financial results today.

Oct 13, 2023, 10:58 am IST

SBI Gets First 'Sell' Call From UBS, Stock Falls

SBI slumps nearly 2% after brokerage firm UBS downgrades the stock rating to sell from buy. This change in stance is attributed to anticipated declines in Return on Asset (RoA) and Return on Equity (RoE) by FY25. This is the first 'sell' rating for the lender. The stock has been on a declining trend for the last three sessions.

Oct 13, 2023, 10:53 am IST

Phoenix Mills Share Prices Hit Record High

The Phoenix Mills stock hits all-time and is trading with gains of nearly 4%. The stock has been on a rising trend for the fourth straight session and has seen a surge of over 13% in 4 days. Phoenix Mills is the top gainer on the Nifty Realty index and the stock has added more than 40% on a year-to-date basis.

Oct 13, 2023, 10:44 am IST

Top 5 Gainers and Losers Today

Source:NSE

Oct 13, 2023, 10:42 am IST

Sensex & Nifty Remain Lower, Nifty Below 19,700

Sensex slumps 350 points, while Nifty stays below 19,700. Banks remain under pressure with 10 out of the 12 Nifty Bank constituents trading in the red; Bank of Baroda, Axis Bank and SBI fall the most. Broader market outperforms in a subdued market, Midcap Index climbs 40 points with HDFC AMC being the top gainer following second quarter results.

Oct 13, 2023, 9:47 am IST

HCLTech Shares Climb Up To 3% Despite Guidance Cut

The Indian tech services company has surged nearly 3% n opening trade despite a cut in its revenue forecast for the current fiscal. The company on the contrary the company announced rolling out of wage hikes October onwards. The stocks has snapped a two-day losing streak after reporting a 1% rise in Dollar revenue on a sequential basis. Six out of the 43 analysts who track HCLTech have given a 'sell' call on the stock for a 12-month period.

Oct 13, 2023, 9:39 am IST

Infosys Shares Plunge 4% On FY24 Guidance Cut

Infosys stages a decline of up to 4% after management trims FY24 CC revenue growth guidance. The stock has been on a downward trend for the last three trading sessions. Nine out of the 45 analysts who track Infosys have a 'sell' rating on the stocks, while 15 give a 'hold' rating.

Oct 13, 2023, 9:19 am IST

Market Opens With Cuts Tracking Weak Global Cues

All frontline indices of the Indian market open lower, Sensex and Nifty slide 0.7% each in opening trade. Infosys is top loser on the index following weak second quarter earnings and CC revenue growth guidance cut, HCLTech is top gainer on better-than-expected results.

Oct 13, 2023, 8:52 am IST

India's Industrial Output Rises

India's Industrial output climbed to 10.3% in August 2023, which is the highest level since June 2022. This is a strong growth compared to growth of 5.7% in the previous month. Also, the country's IIP index was better than Street's expectation of 9%. The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 145.1. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2023 stand at 111.9, 143.5 and 220.5 respectively, as per the ministry.

Oct 13, 2023, 8:47 am IST

Stock To Watch Today

Among Infosys, HCL Tech, Mphasis, Lupin, One 97 Communications, Rites, Ircon International, Happiest Minds Technologies, Angel One and Anand Rathi Wealth, here are the top 10 stocks to watch today, 13th October 2023.

Oct 13, 2023, 8:45 am IST

Markets To React To CPI Inflation

India's consumer price index (CPI) inflation has eased once gain higher than markets expectations in September to 5.02% compared to 6.83% print in August 2023. The latest inflation rate is well below the market consensus of 5.5%. That being said, the country's retail inflaton has dropped below RBI's tolerance limit of 6% for the first time in three months.

Oct 13, 2023, 8:39 am IST

Infosys Shares In Focus:

Infosys posted a consolidated net profit of Rs 6,212 crore which is attributable to the owners of the company, registering a growth of 4.5% QoQ and 3.2% YoY. However, Infosys sees its top-line front under pressure ahead as it trims the upper-end of constant currency revenue growth guidance. In Q2FY24, operating profit stood at Rs 8,274 crore, rising by 4.8% QoQ and 5.1% YoY. Operating margins also expanded sequentially by 0.4% to 21.2%. Consolidated revenue stood at Rs 38,994 crore in the quarter, posting a growth of 2.8% QoQ and 6.7% YoY.

Oct 13, 2023, 8:37 am IST

HCL Tech Stock In Focus After Q2 Results

Hcl Technologies has announced its September quarter earnings for the financial year 2022-23. HCL Tech beats estimates in the bottomline as the company garnered a consolidated net profit of Rs 3,832 crore in Q2FY24, registering a growth of 8.43% QoQ and 9.83% YoY. Consolidated revenue from operations was below expectations and stood at Rs 26,672 crore, rising by 1.43% QoQ and 8.04% YoY.

Oct 13, 2023, 8:37 am IST

Day Trading Guide For Friday

Prashanth Tapse, Senior VP (Research), Mehta Equities: A preliminary analysis of early market indicators, particularly the negative performance of GIFT Nifty and global market cues, indicates a bearish outlook for Friday the 13th, hinting at a significant decline in the market. It is recommended to consider a strategy that involves selling Nifty and Bank Nifty positions. This downturn can be attributed to six key negative factors, which include Infosys's weak guidance and rising geopolitical tensions. Examination of Nifty's options data reveals a specific trading range, with 20,000 serving as a notable resistance level. In these uncertain times, it is essential to adhere to seven fundamental trading rules. tt is advisable to maintain a cautious optimism, with the consideration of aggressive long positions only if Nifty manages to surpass the critical level of 19,889.

Oct 13, 2023, 8:35 am IST

Gift Nifty Today

In the early trade, Gift Nifty traded marginally up by 16.5 points or 0.08% to 19,691.5. The benchmark opened at 19,675.0 and ranged between 19,701.5 to 19,684.

Oct 13, 2023, 8:35 am IST

Asian Stocks Today

Asian stocks traded lower tracking the bearish trend of US stocks after inflation data escalated chances of rate hike ahead. Apart from this, continued weakness in Chinese economy added to woes. Japan's Nikkei 225 dipped 81.29 points, while Hang Seng index took a massive hit by nosediving 1.89%. China's mainboard SSE Composite Index tumbled 0.62%, while South Korea's KOSPI index dipped 0.7%. Australia's ASX/200 index also shed 0.35%.

Oct 13, 2023, 8:34 am IST

US Stocks

Wall Street halted their gaining spree on Thursday and entered the red zone with treasury yields climbing on fresh inflation data which rose by 0.4% in September, keeping rate hike probability very much on the cards in the coming policy. The 10-year benchmark bond yield jumped to touch 4.70%, while 2-year yield also traded higher to 5.06%. The Dow Jones Industrial Average dipped by 173.73 points, while the S&P 500 plunged 0.62% and the tech-heavy Nasdaq Composite index also slid down by 0.63%.

Oct 13, 2023, 8:31 am IST

Markets Performance, October 12

On Thursday, Sensex ended at 66,408.39, down by 64.66 points or 0.10%, while Nifty slipped by 17.35 points or 0.09% to settle at 19,794. However, Bank Nifty gained by 82.30 points to end at 44,599.20. The markets saw broad-based buying across sectoral indices with media and oil & gas stocks outperforming. While IT stocks witnessed massive selling amidst major Q2 earnings like Infosys, Wipro and TCS.