Share Market News Today Updates, 13 October 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets. Share Market Updates Today: Indian equity benchmarks plunged in late morning deals on Thursday after government data showed that retail inflation spiked to a five-month high in September, stoking fears of further rate hikes by the Reserve Bank of India (RBI). Consumer price-based inflation accelerated in September to 7.41 per cent, year-on-year (yoy), as food prices surged. Market participants also awaited quarterly (Q2) results of IT firm Infosys, to be announced later in the day. Wipro, Adani Ports, SBI Life, L&T and SBI were among the top losers on the NSE platform with their shares down as much as 6.21 per cent. In contrast, HCL Tech, Hindalco, Sun Pharma, Dr Reddy's and NTPC were among the top gainers.
Asian stocks, in sync with an overnight decline on Wall Street, remained depressed today as investors weighed the risks of global recession amid hawkish US Federal Reserve rhetoric and uncertainty about the Bank of England's commitment to stabilising markets.
Here are the share market Live Updates:
Seasoned investor Mukul Mahavir Agrawal stayed put on Indian Metals & Ferro Alloys in the September quarter, latest shareholding pattern suggests. Agrawal held 7,78,900 shares or 1.44 per cent stake in this company as of September 30, the same as June quarter. This is even as the scrip has fallen 51.44 per cent from its 52-week high of Rs 514.
On Thursday, the scrip was trading 0.48 per cent lower at Rs 249.55. At a market capitalisation of Rs 1,346.42 crore, Agrawal's holding in the company is worth Rs 19.40 crore, as per data publicly available with Trendlyne.
Shares of JP Associates cracked 4.14 per cent to trade at Rs 11.35 in late morning deals.
Sensex tanks 408 points or 0.71 per cent to trade at 57,218 in late morning deals, Nifty moves 120 points or 0.70 per cent lower to trade at 17,003; Wipro, Adani Ports, SBI Life, L&T, SBI among top drags
Seasoned investor Dolly Khanna trimmed her stake in Aries Agro by 15 basis points sequentially, while she probably exited Goa Carbon in the September quarter, latest shareholding data suggests. (Read more)
Shares of Suzlon Energy fell 2.73 per cent to trade at Rs 6.77 in late morning deals. It slipped to an intra-day low of Rs 6.68 in early trade.
Shares of Adani Wilmar tanked nearly 4 per cent in Thursday's trade after the edible oil major said its overall revenue in the July-September quarter would grow by low single-digit annually amid a fall in rates of edible oils. (Read more)
Sensex falls 321 points or 0.56 per cent to trade at 57,305, Nifty moves 96 points or 0.56 per cent lower to trade at 17,027; Wipro, ONGC, SBI Life, Adani Ports, HDFC Life among top drags
Shares of JK Tyre fell 2.11 per cent to trade at Rs 169.50 in early trade.
The overall market breadth stood slightly weak as 1,602 shares were seen advancing while 1,840 were declining on BSE.
Sensex falls 210 points or 0.36 per cent to trade at 57,416, Nifty moves 55 points or 0.32 per cent lower to trade at 17,069; Wipro, ONGC, TCS among top drags
Shares of HCL Tech surged 2.98 per cent to trade at Rs 980 in early trade.
10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty IT, Nifty Financial Services and Nifty Consumer Durables were underperforming the NSE platform by falling 0.63 per cent, 0.52 per cent and 0.46 per cent, respectively. On the flipside, Nifty Auto, Nifty Metal and Nifty Pharma rose 0.63 per cent, 0.60 per cent and 0.37 per cent, each, in early trade.
Mid- and small-cap shares were slightly positive as Nifty Midcap 100 edged 0.06 per cent higher and small-cap rose 0.19 per cent.
Shares of IT major Wipro fell nearly 5 per cent in early trade today after the firm reported a 9.27 per cent year-on-year (YoY) fall in net profit for the quarter ended September. (Read more)
Wipro, HDFC twins (HDFC and HDFC Bank), TCS and Tata Consumer Products were among the top losers on the NSE platform today with their shares down as much as 4.76 per cent. In contrast, Hindalco, HCL Tech, M&M, Adani Ports and NTPC were among the top gainers.
Sensex falls 134 points or 0.23 per cent to trade at 57,492, Nifty moves 36 points or 0.21 per cent lower to trade at 17,087
The price action for Bank Nifty will range between 38,190 and 39,586, said Mohd Abutarab A Shaikh, Analyst, Vantage. This range will continue as the market remains uncertain of future rate hikes which may not be as high of intensity as previous rate hikes, he added.
Oil prices struggled to find their direction in early deals today after easing in the previous session on the back of a weakening global demand outlook. Brent crude futures dropped 7 cents, or 0.1 per cent, to $92.38 a barrel. US West Texas Intermediate (WTI) crude was down 21 cents, or 0.2 per cent, at $87.06 a barrel.
Wipro: The IT firm forecast smaller sequential revenue growth for the December quarter amid a challenging macro environment, but said its order pipeline looked robust with a few mega deals.
HCL Technologies: The IT company raised its full-year revenue growth forecast and reported a 7.1 per cent rise in September-quarter profit, helped by a rise in new order wins.
Adani Wilmar: The company said it expected Q2 revenue to grow at low single digit.
Life Insurance Corp Of India: LIC said it has cut stake in Power Grid Corp Of India to 3.30 per cent from 5.30 per cent.
Adani Ports and Special Economic Zone: Adani Ports said it received a letter of award from West Bengal Industrial Development Corp for development of deep-sea port at Tajpur.
The US dollar-Indian rupee pair has limited downside up to 81.80 levels, and have higher potential to move towards 83-83.50 levels in the near term, said Amit Pabari, MD, CR Forex Advisors.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today
