Stock Market Update October 10: Sensex, Nifty Rebound As Financial, Auto Shares Rally

Benchmark indices Sensex and Nifty gained approximately 1% on Tuesday following surge in financials, auto and IT shares after recent sharp decline and positive global trends.

The 30-share Sensex soared by 566.97 points or 0.87% to close at 66,079.36 as 26 of its constituents ended in the green and four fell. The index opened sharply higher by 400 points and gained further to touch the day's high of 66,180.17, according to PTI.

On Tuesday, the three major US indices closed higher - the Dow Jones Industrial Average rose 0.5%, Nasdaq gained 0.3% and the S&P 500 was up 0.6%.

The stocks that will be in focus today include Adani stocks, Maruti Suzuki, Suzlon Energy And Tata Steel.

LIVE Feed

Oct 10, 2023, 1:22 pm IST

JSW Steel Gains Over 1% On 13% YoY Growth In Consolidated Crude Steel Production

JSW Steel reported consolidated Crude Steel production for the second quarter of FY 24 at 6.41 Million tonnes, a growth of 13% YoY. QoQ production is marginally lower by 3%, primarily due to scheduled shutdowns undertaken at Indian operations and lower capacity utilization at USA-Ohio due to market conditions. The stock was up 1.08% at Rs 765.25 per share at 1:14 pm IST.

Oct 10, 2023, 1:16 pm IST

Ahmedabad-Based RBZ Jewellers Received Sebi Nod For IPO

RBZ Jewellers has received final observation from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds via an initial public offering (IPO).

Oct 10, 2023, 1:00 pm IST

Elecon Engineering: This Vijay Kedia-Owned Stock Has Gained 3129.63% In the Last Three Years

On Tuesday, Elecon Engineering shares were spotted trading 2.92% higher at Rs 785 per share at 12:29 pm IST. In the last one year, the returns from the stock have increased 133%, while the stock's year-to-date (YTD) performance is up 107.24%. Elecon Engineering shares have gained 3129.63% in the last three years. As of the June quarter of 2023, Kedia owned a 1.78% stake in Elecon Engineering. Elecon Engineering Ltd has fixed October 31, 2023, as the record date for determining the entitlement of the shareholders for the interim dividend, if declared by the Board of Directors of the Company.

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Oct 10, 2023, 12:16 pm IST

Adani Stocks Rebound, Adani Ports Gains Over 2% After Company Issues Statement on Haifa Port, Israel

The share price of Adani group stocks - Adani Enterprises, Adani Total Gas, and Adani Ports rebounded in today's trade after trading lower in the previous session over rising concerns about the Israel-Palestine situation. Today, the share price of Adani Ports was up 2.54% at Rs 810.00 per share at 12:13 pm IST.

Oct 10, 2023, 11:54 am IST

Puravankara Share Hits 52 Week High, Zooms 12.66% After Robust Sales

Shares of small cap real estate player, Puravankara Ltd gained 12.66% intraday to 139.25 per share on BSE after it announced robust sales and collections for the Q2 ended September 30, 2023. According to the BSE filing of the company issued on October 10, 2023, “achieved highest-ever sales value of INR 1,600 Crore in any quarter and the second quarter of any financial year since inception. Up by 102% compared to INR 791 Crore in Q2FY23.”

Oct 10, 2023, 11:54 am IST

Nifty Midcap 150 Outperforms All Major Indexes in September: Motilal AMC

Nifty Midcap 150 outperforms all major indexes in September by rising 3.04%. It has rose by 12.98%, 33.37%, 29.92% in last 3 Months, 6 Months and 1 year respectively. Similarly, Nifty Smallcap 250 has also performed well during the same period rose by 15.99 %, 39.17%, 32.96% in last 3 Months, 6 Months and 1 year, Respectively. Indian stock markets exhibited a positive trend, highlighted by a 2% increase in the Nifty 50 index

Oct 10, 2023, 11:53 am IST

Plaza Wires IPO Allotment Likely Today, Know How To Check Allotment Status

Plaza Wires IPO allotment status: The initial public offering (IPO) of New Delhi-based cables, and wires manufacturer Plaza Wires which opened for subscription on September 29 concluded on October 5. Investors who had subscribed to the issue are keenly awaiting to know the Plaza Wires IPO Allotment Status.

Oct 10, 2023, 11:52 am IST

Tata Steel Shares In Focus After Fitch Upgrades Rating Of Steel Major To BBB

Tata Steel shares traded in the green on Tuesday after Global rating agency Fitch Ratings upgraded the issuer rating on the steel major to "BBB-" from "BB+", with a stable outlook on Monday. Tata Steel shares were spotted trading 0.61% higher at Rs 124.55 per share at 9:37 am IST today. The upgrade came after the company's standalone credit profile (SCP) was revised to 'bb+' from 'bb'.

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Oct 10, 2023, 10:28 am IST

KPI Green Energy Shares Rally After Profit Soars 57% Yoy In Q2 FY24

KPI Green Energy shares rallied 1.36% in morning trade on the BSE on October 10 after its consolidated profit-after-tax (PAT) rose 57% year-on-year (YoY) to Rs 34 crore for the July-September quarter of fiscal year 2023-24 (Q2FY24). KPI Green Energy Ltd on Monday approved and declared interim dividend at 2.5% i.e. Re. 0.25 (Twenty-Five Paisa Only) per equity share having face value of Rs. 10/- each, on the equity share capital of the Company for the financial year 2023-24. KPI Green Energy shares witnessed a rally of 1.16% today. KPI Green Energy shares soared 3017% in last 3-years and rallied 1242% in last 2-years.

Oct 10, 2023, 10:27 am IST

Central Govt Appoints Bhavendra Kumar As Chief General Manager of Canara Bank

The Central government has appointed Bhavendra Kumar as Chief General Manager of Canara Bank for three years effective from October 9. He has taken charge as Executive Director of the bank. Canara Bank shares witnessed a rally of 1.42% in morning trade to 370.25 apiece.

Oct 10, 2023, 10:15 am IST

Top 5 Gainers and Losers Today

Source:NSE

Oct 10, 2023, 9:44 am IST

Rupee Trades in Green

The rupee opened higher against the US dollar, in line with gains in peer Asian currencies, according to moneycontrol. The Indian currency was trading at 83.23 to a dollar, up 0.05 percent from its previous close of 83.27.

Oct 10, 2023, 9:40 am IST

Tata Steel Shares In Focus After Fitch Upgrades Rating Of Steel Major To BBB-

Tata Steel shares traded in the green on Tuesday after Global rating agency Fitch Ratings upgraded the issuer rating on the steel major to “BBB-” from “BB+”, with a stable outlook on Monday. Tata Steel shares were spotted trading 0.61% higher at Rs 124.55 per share at 9:37 am IST today.

Oct 10, 2023, 9:19 am IST

Aditya Gaggar, Director of Progressive Shares

Amid geopolitical tensions, the markets started the week on a tepid note and ended the session lower at 19,512.35; with PSU Banks and Media being the worst performers. By forming a bearish candle, the Index is back to its consolidation zone where the higher side is capped at its 50DMA which comes at 19,600, and as per the GIFT Nifty indication, Nifty50 is likely to test its 50DMA in today's trade while immediate support stands at 19,450. For a consolidation breakout in Nifty, BankNifty has to perform (possibility of a bullish divergence). The immediate resistance stands at 44,200 while the level of 43,600 is a strong support point. Despite the weak session, a couple of Metal stocks have shown a sharp recovery which is pointing towards a trend reversal. From its record levels, the PSU Banking sector corrected over 5%, while little downside is still left, one can add the stocks on the decline.