Banking stocks are also likely to be in focus today as the Supreme Court gets ready to hear the loan moratorium case.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty began this week’s trading with gains but soon were moving between gains and losses. S&P BSE Sensex was up over 100 points on the opening bell while Nifty was above 11,650 mark. ICICI Bank, IndusInd Bank, and Axis Bank were the top gainers while index heavyweight Reliance Industries Ltd was down over deep in red followed by HCL Technologies, TCS, L&T. RIL’s fall was pulling equity markets lower. Asian stock markets were trading with gains on Monday morning. Topix was up 2.3% while KOSDAQ gained 1.13%.
Equitas Small Finance Bank will debut on the bourses today. The IPO which garnered a 1.95 times subscription for its 11.58 crore equity shares at the issue price of Rs 33 apiece is among a number of public issues that primary markets have seen in recent months. With the listing, Equitas Small Finance Bank’s promoters will march towards falling in line with Reserve Bank of India’s guidelines that seeks them to trim their holding to 40% in five years of commencement of business. According to CRISIL, Equitas Small Finance Bank is the largest small finance bank in India in terms of number of banking outlets and has recorded the fourth lowest yields indicating diversification away from microfinance in financial year 2019.
Highlights
Second half of the day's trading session has brought some respite for indices so far. Nifty jumped to cross 11,700 on Monday while Sensex was up over 300 points shy of the 40,000 mark.
"Modelled growth from FY22 on an assumed improvement in refining and chemical margins, a growth catch-up in retail, and ARPU plus margin expansion in JIO. That said, this is 23% below consensus explained by our view of a slower recovery in Reliance’s refining and chemical margins, slower pace of ARPU hikes, lower retail margins as JioMart scales up, high competition in retail, higher working capital for retail, higher capex for JIO and retail, and higher minority interests," analysts at Macquarie said in a note.
RIL's partly paid shares tanked 10% to hit the lower circuit on Monday as the fully paid up shares fell nearly 7%. RIL PP were trading at Rs 1,066 per share while RIL was trading at Rs 1,916 apiece.
"In the month of October 20, overall M&M tractor sales grew ~2%. Domestic sales in October 2020 were at 45,588 units, as against 44,646 units during October 2019. Exports for the month stood at 970 units (growth of 23% over last year). M&M continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market. Auspicious festival days ahead, coupled with mechanization requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry," said Amarjeet Maurya - AVP - Mid Caps, Angel Broking.
Shares of Mukesh Ambani’s Reliance Industries Ltd (RIL) fell to a three-month low of Rs 1,946 per share on Monday morning, as the stock tumbled over 5%. The oil-to-telecom conglomerate reported a net profit of Rs 10,602 crore in the July-September quarter, down from Rs 15,055 crore in the same period last year as revenues dropped. With the recent fall, RIL shares are now trading at a three-month low price. This is the first major single day correction that RIL stock has seen since May this year.
Read full story
The 50-stock benchmark NSE Nifty was trading below 11,600 mark on Monday. For this week, 11,600-11,500 is an important support zone, according to technical analysts at Angel Broking.
The manufacturing sector in India has shown a strong rebound in the month of October, with the output surging to a 13-year high, and sales rising to the highest in nearly 12 years. Consequently, the manufacturing PMI rose to 58.9 in October, from 56.8 in September, according to the IHS Markit report. This is the strongest improvement in over a decade, which was led by the intermediate goods category, though there were also robust expansions in the consumer and investment goods sub-sectors, the report added. The relaxation in Covid-19 restrictions, improved market conditions, and the rise in demand are mainly believed to have supported new work in October.
Read full story
Private sector lender ICICI Bank’s share price zoomed over 6% on Monday morning making it the top Sensex gainer in a volatile market. Investors reacted to the strong quarterly performance reported by ICICI Bank where the lender reported a massive 549% jump in net profit from the previous year owing to lower base. The jump was helped by a double-digit growth in non-interest income. ICICI Bank is one of the largest banks in the country with a strong credit profile. Shares of the bank have zoomed 45% since March this year. Currently the stock trades at Rs 410 per share.
Read full story
Nifty recovered more than 100 points from the low and finally ended the day with the losses of 28 points to close at 11642 levels. To Sum It Up, Short build up in the Nifty and Bank Nifty Futures, fall in the Nifty Open Interest Put Call ratio on the back of Call writing at 11800 levels and short build up by the FIIs’ in the Index futures segment Indicates that one should be cautious for the markets Therefore, our advise is to be bearish and use any pullback rally to build fresh short positions with the stoploss of 11800 levels. On the lower side support is seen around 11500 levels where Puts have been written.
~ HDFC Securities
Indian share markets have recovered to the pre-COVID-19 level, while banking and financial sectors have underperformed due to uncertain loan growth, says Ajit Mishra, VP (Research), Religare Broking Ltd. BSE Sensex and Nifty 50 gained 2.4 per cent in the October, after falling 1.4 per cent in the previous month. Investors witnessed a sharp spike in COVID-19 cases globally with fresh impositions in most of the countries. In an interview with Surbhi Jain of Financial Express Online, Ajit Mishra says that investors who are looking to book profit in the current market scenario can consider the Information Technology sector. Besides, he also says that it will be important to see how the new government will take US-India relations forward post election outcome.
Read full story
Equitas Small Finance Bank began trading on the stock exchanges at Rs 31 per share, soon after opening the stock price improved only to fall further after the initial few minutes of trade. The listing price was at a 6% discount to the issue price.
Read full story
Equitas Small Finance Bank made a muted debut on the stock exchanges at Rs 31.3 per share, after listing at Rs 31 apiece. The listing price was at a 6% discount to the issue price. Units of Equitas Small Finance Bank were offered to investors at Rs 33 per share during the bidding phase of the IPO. On Monday, stock markets were witnessing volatility just ahead of the US Presidential Elections. Sensex and Nifty, after opening with gains, were trading in the red. Equitas Small Finance Bank initial public offering was subscribed 1.95 times by investors with retail investors subscribing their portion over 2 times.
Check live price
"The Nifty broke 11600 on Friday which made the short term trend bearish. The index could fall further and hit 11400 as a potential target. 11700-11750 is the range of the resistance and any upside can be expected only if we start trading above these levels," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Dalal Street gave up all gains and turned red following the 4% fall registered by RIL on Monday morning.
Mukesh Ambani's Reliance Industries Ltd saw its shares fall 2.6% on the opening bell. RIL announced a fall in net profit in the July-September quarter.
Check live price
ICICI Bank jumped over 6.4% on the opening bell on Monday, it was followed by IndusInd Bank, Power Grid, and Titan Company limited.
Sensex and Nifty opened with gains on Monday morning following strong global cues and positive macro news domestically. Sensex zoomed over 100 points on opening while Nifty was above the 11,650 mark. However, gains were trimmed margianlly in the initial minutes.
Aditya Puri, after his exit from HDFC Bank as its managing director last month, has now joined US-based global investment firm the Carlyle Group as a senior advisor. The Carlyle Group in a statement on Monday said Aditya Puri will advise the Carlyle team on investment opportunities across Asia.
The pre-open session saw Sensex jump 266 points while the 50-stock Nifty was just below the 11,700 mark.
Sensex and Nifty registered gain in the pre-open session on Monday, following cues from Asian peers.
S&P BSE Sensex gained over 350 points in the pre-open session on Monday, while Nifty 50 was seen crossing the 11,750 mark.
Asian shares bounced off one-month lows on Monday on solid data from China showing factory activity expanded at its fastest pace in a decade while oil prices skidded as many Western countries slid back into coronavirus-driven lockdowns.
Read full story
Nifty futures on Singapore Exchange were trading 36 points higher ahead of the opening bell for domestic markets.
With the US Presidential Elections just around the corner, it’s imperative for investors to gear up for any shock movements or expected turns in equity markets across the globe. Stock markets are bound to react in one way or the other whether Donald Trump returns to power or Joe Biden takes a seat in the Oval Office. In a recent blog, global investment bank Morgan Stanley carved out four possible outcomes of the November 3 elections and listed down various risks and opportunities that come with all those different outcomes.
Read full story
Maximum put open interest is placed at 11,000 strike with 21.73 lakh contracts. 11,500 strike has 21.24 lakh contracts for the November series.
For the November series maximum call option interest (OI) is placed at 12,000 stirke with 15.7 lakh contracts, followed by 12,500 strike with 13.53 lakh contracts.
Domestic benchmark indices might continue to remain volatile and lack direction ahead of the US Presidential Elections that may stretch longer than usual this time. However, this should not stop investors from looking for stock and sector specific trades. With the results season underway and domestic economic indicators hinting at a recovery from the economic woes of the pandemic, investors can find a number of stock specific trades in the current market environment. Here are some of the key stocks to watch out for during the day’s trade.
Read full story
On Monday morning, ahead of Dalal Street's opening bell SGC Nifty was trading 20 point higher. Nifty could take cues and open muted but in the green.
Foreign portfolio investors (FPIs) turned net buyers in October in Indian markets by putting in Rs 22,033 crore as participant sentiment was driven by resumption of economic activities and robust quarterly corporate results among others.
In September, FPIs were net sellers at Rs 3,419 crore.
Read full story
US President election 2020 is just a day away, and polls suggest Democrat Joe Biden’s lead in nationals. Investors might be confused as to how to track election night, as this will be all about when markets will conclude who has won. Michael Zezas, Head of Public Policy Research and Municipal Strategy, Morgan Stanley, in a recent podcast said that for investors, election night would not necessarily be when a candidate has conceded, or when the media calls the winner; rather, it could hinge on moments when the markets conclude who has won.
Read full story