Sensex, Nifty LIVE Updates on October 1: Market indices traded majorly bullish on Thursday, amid positive global equities. Sensex was rising 606 points to 38,674 and Nifty gained 170 points to 11,417. SGX Nifty was rising 109 points higher, indicating positive trend in domestic grounds today. Yesterday, Sensex ended at 38,067, up 94 points, and Nifty gained by 4 points to 11,22.
Here's a look at the updates of the market action on BSE and NSE today
12. 19 PM:Chemcon Speciality Chemicals listing
Chemcon Speciality Chemicals share delivered more than 100% returns to investors on its market debut today.
The stock listed at a premium of 115% to its issue price of Rs 340 on BSE today. The share opened at Rs 730.95 delivering investors return of Rs 390.95 or 114.95% compared to IPO price band of Rs 338 to Rs 340 per share.The stock further rose 118.74% to intra day high of Rs 743 on BSE. Total 13.88 lakh shares of the firm changed hands amounting to turnover of Rs 88.94 crore on BSE.
Chemcon Speciality Chemicals share makes stellar debut, delivers 115% returns to investors
12.01 PM: CAMS IPO listing today
Computer Age Management Services (CAMS) share listed at a premium of 23% to its issue price on BSE today. The share opened at Rs 1518 delivering investors return of Rs 288 or 23.41% compared to IPO issue price of Rs 1,230 per equity share. The stock further rose 26% to intra day high of Rs 1550 against its issue price. Total 67.19 lakh shares of the firm changed hands amounting to turnover of Rs 1013 crore on BSE.
CAMS share delivers 23% listing gains for investors
11. 57 AM: Quote on Multiplex Sector
Keshav Lahoti - Associate Equity Analyst, Angel Broking said," Yesterday, the Ministry of Home affairs announced that multiplexes will be permitted to open with upto 50% of their seating capacity with effect from 15th October 2020 outside Containment Zones. It was a positive development for the industry as multiplex will be opening after around 7 months of closure. There was a bit of fear among the street also if MHA announce multiplex to start operation they might cap capacity at 25%, which will increase losses for multiplex companies, nothing of that sort happened in the announcement. We believe the initial few weeks will be challenging for these companies as no big movie will take risk to release in the initial 2-3 weeks. It will take time for them to reach occupancy at pre covid levels. We are positive on Inox Leisure and PVR as long term fundamentals are intact for the industry and stock has corrected ~40% from pre covid levels.
11. 46 AM: Gold technical outlook
Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said,"Gold headed towards its worst month in four years as extension of rally in the U.S. Currency kept the Dollar denominated Gold under pressure. Chinas industrial activities also gained momentum reflecting the improvement in overseas demand which further boosted the risk appetite amongst investors. U.S. Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi working on bridging the gap raised hopes of additional stimulus aid by U.S. limited the fall in Gold prices. Moreover, alarming increase in the Covid-19 cases dampened hopes of the global economic recovery also levied some support for the yellow metal.Easing Dollar and hopes over additional stimulus might levy some support for the yellow metal. On the MCX, gold prices are expected to trade higher in todays session.
He added," As for today traders can go for buy in gold at Rs 50,300 levels with the stop loss of Rs 50,000 levels for the target of 50,900 levels. They can also go for buy in Silver at Rs 60,000 levels, with the stop loss of 59,200 levels and for the target of 61,500 levels."
11. 33AM: Coronavirus toll
Worldwide, there were 341 lakh confirmed cases and 10.18 lakh deaths from COVID-19 outbreak. India's COVID-19 caseload breached the 63-lakh mark and the death toll from COVID-19 infections rose to 0.98 lakh, as of today.
11. 20 AM: Market rises further
Market indices traded majorly bullish on Thursday, amid positive global equities. Sensex was rising 606 points to 38,674 and Nifty gained 170 points to 11,417.
11. 14 AM: Market outlook
As per Geojit Financials, the swing back from 11184 strengthens this view and we are back on track to achieve the 11327/467 view that has been in play since last Friday. There is a fair case to expand upside target to 11800, but we expect consolidation once inside the 11400-11500 region.
11. 02 AM: Unlock 5.0
Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"The Ministry for Home Affairs (MHA) announced further relaxations in restrictions on the 30th of Sep 2020 which were along expected lines. Under Unlock 5.0 the Government has allowed reopening of Cinemas, theaters and multiplexes with upto 50% capacity from the 15th of October. Other major relaxations include reopening of schools and coaching institutions in a graded manner from the 15th of October subject to state approvals and conditions. Similarly, the cap on Social, Sports, entertainment, political gathering has been increased from 100 persons subject to either 200 persons or 50% of capacity for indoor events.
While no such restrictions have been imposed for outdoor events organisers have to follow SOPs including ensuring wearing of masks and social distancing. Unlock 5.0 has been along expected lines and in line with our view that the Government will keep reopening the economy incrementally as the Covid-19 situation keeps improving. While Unlock 5.0 is a positive development for the markets there is a risk of surge in infections later on as the economy is opened up further. "
10. 55 AM:Bajaj Auto September sales
Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"Bajaj Auto reported better than expected monthly sales numbers for the month of September 2020. Total sales were up 10% YoY to 441,306 units. Domestic sales were up by 6% YoY to 228,731 units while exports have rebounded strongly and were up by 14% YoY at 212,575 units. We expect the domestic two wheeler segment will continue to do well in October also due to pent up demand and inventory push prior to the festive season while exports are also to stabilize as supply chains have normalized. In the commercial vehicles space while exports have normalized domestic sales are expected to improve only gradually as restrictions are eased in India."
10. 45 AM: Nifty outlook
Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said,"Basically, Nifty was trapped in a range of 11200-11300 and it appeared as if the options writers had the edge yesterday one day ahead of the weekly expiry. As per our recent directional view, we still see 11300-11350 as a sturdy wall and till the time it's not crossed convincingly, we may see some profit booking at higher levels. However, on the lower side, if any weakness has to trigger, the Nifty needs to break below 11180-11150."
10. 30 AM: Global markets
Asian markets are trading positive. However, Japan has halted trading after technical glitch. Markets in China, Hong Kong, Korea and Taiwan are closed for holiday.
U.S. markets closed higher but ended the month on a negative note as hopes faded for more stimulus ahead of elections and rising coronavirus cases.
European markets closed higher as investors reacted to the US Presidential debate and the prospects of economic recovery.
10. 22 AM: Nifty technicals
On opening session today, -Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," We are at a fulcrum point - trading above 11350. It is imperative the markets close above this level for the bulls to take over. From here, we can achieve 11600 and then 11800. If we are unable to close past the 11350 mark and make a U turn, we could drop back to 10700-10800."
10. 10 AM:Lockdown relaxation
The Ministry of Home Affairs (MHA), on September 30, announced the Unlock 5.0 guidelines, further relaxing curbs on activities outside of containment zones. Under this set of guidelines, cinemas, theatres, multiplexes have been permitted to open with 50% seating from October 15.
10.08 AM: Market update
Market indices opened majorly bullish Thursday, amid positive global equities. Sensex was rising 517 points to 38,581 and Nifty gained 141 points to 11,389.
9. 56 AM: Stocks to watch today on October 1
RIL, Dr Reddy, Lupin, PNB, HDFCamong others are the top stocks to watch out for in Thursday's trading session
Stocks in news: RIL, Dr Reddy, Lupin, PNB, HDFC
9. 41 AM: Eight core industries data
The output for India's eight core industries contracted for the sixth straight month, dropping 8.5% in August 2020, government data released on Wednesday showed.
9. 37 AM: Global markets
Asian equities were trading higher on Wednesday, following overnight gains in Wall Street. While markets in China, Hong Kong, South Korea and Taiwan were closed on Thursday for holidays, Japan's Tokyo Stock Exchange suspended trading on Thursday due to a technical issue.
Markets cheered following news that Moderna's experimental Covid-19 vaccine, which won't be ready before the November election, has appeared safe and shows signs of working in older adults, according to study results published in the New England Journal of Medicine.
However, investors cut gains in the final hour of trading after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to strike a coronavirus aid deal.
9. 20 AM: Opening session
Sensex and Nifty opened on a bullish note on thursday, amid positive global equities. SGX Nifty was rising 109 points higher, indicating positive trend in domestic grounds today. Sensex was rising 440 points to 38,529 and Nifty gained 119 points to 11,366
9. 10 AM: Rupee outlook
On Rupee's outlook, Ajit Mishra, VP - Research, Religare Broking said, "For the October series, the USDINR pair has resistance around 74.50 followed by 75.20 levels. On the other hand, support for the pair is at 73.20, followed by 72.80 mark"
9.00 AM: Market outlook
On markets closing-Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," The Nifty has closed below the 11350 level which indicates that weakness still persists in the system. Until we do not close above this level, the trend remains southwards. If the Nifty gets jittery at the current level, we could possible go down to 10800."
Rohit Singre, Senior Technical Analyst at LKP Securities "Index has strong resistance near 11300 zone any break above said level can active good momentum which can push index to next hurdle zone of 11400, good support is coming near 11200-11120 zone overall index may trade in consolidation and range would be 11200-11300 zone."
8. 50 AM: Rupee closing
On the currency front, the Indian rupee settled 10 paise higher at 73.76 against the US dollar on Wednesday as against Tuesday's close of 73.86 against the greenback, supported by positive domestic equities.
8. 40 AM: FII action
Foreign portfolio investors (FPIs) sold shares worth Rs 712.48 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 409.47 crore in the Indian equity market on 30 September, provisional data showed.
8. 30 AM: Closing on Wednesday
ndian benchmark indices closed positive on Wednesday after a volatile session, tracking cues from overseas markets.
Yesterday, Sensex ended at 38,067, up 94 points, and Nifty gained by 4 points to 11,22.
Sensex ends 94 points higher, Nifty at 11,226; Titan, Dr Reddy's, Nestle top gainers