Share Market News Today Updates, 4 November 2022: Sensex and Nifty traded on a highly volatile note today. Share Market Updates Today: Indian equity benchmarks plunged into the red after opening slightly higher on Friday amid mixed global cues as investors awaited domestic earnings reports and US jobs data for hints on future rate hikes.
The US central bank raised interest rates by 75 basis points (bps), the fourth such hike in a row, and said its battle against inflation would require borrowing costs to rise further.
Asian stocks traded on a mixed note after an overnight decline on Wall Street. Japan's Nikkei index slipped 2.03 per cent lower, South Korea's KOSPI shed 0.10 per cent, the Shanghai Composite index rose 1.67 per cent and Hang Seng Index surged 4.49 per cent.
On the domestic front, the Reserve Bank of India's (RBI's) monetary policy committee met November 3 to discuss the central bank's report to the Centre for failing to meet its inflation targets for three straight quarters for the first time since it was set up in 2016. Governor Shaktikanta Das said the RBI would not immediately make details of its report public.
Further, InterGlobe Aviation, Britannia Industries and GAIL (India) Ltd are among the companies expected to report their quarterly results later in the day.
Meanwhile, foreign institutional investors bought a net Rs 678 crore worth of equities on Thursday, while domestic investors sold Rs 732 crore of shares, as per provisional data available with the National Stock Exchange.
Here are the share market Live Updates:
Shares of Bajaj Finserv jumped 3.46 per cent to trade at Rs 1,782.85. The stock touched an intraday high of Rs 1,795 today.
Shares of Indian Overseas Bank jumped 9.56 per cent to trade at Rs 21.20. The stock touched an intraday high of Rs 21.70 today.
Sensex falls 162 points or 0.27 per cent to trade at 60,674, Nifty moves 22 points or 0.12 per cent lower to trade at 18,030
Shares of Ajanta Pharma fell 5.65 per cent to trade at Rs 1,272. The stock hit an intraday low of Rs 1,257.25 today.
Sensex falls 123 points or 0.20 per cent to trade at 60,714, Nifty moves 18 points or 0.10 per cent lower to trade at 18,035; Hero MotoCorp, Divi's Lab, BPCL, Infosys, Dr Reddy's among top drags
"On the technical front, Nifty extended losses for the second consecutive day in a row following a bearish candle and a Doji candle the preceding day, suggesting that a possible selling pressure might develop near 18,150-18,200 levels," said Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking Ltd.
The overall market breadth stood positive as 843 shares were seen advancing while 627 were declining on BSE.
"The first downside target of 17,960 having been achieved with the opening low, bargain hunting ensued taking out a good deal of downside momentum. We may not be fully back in the 18,350-18,600 trajectory again, but a close above 18,080/18,120 region might atleast shrug off the prospects of the 17,760 move," said Anand James - Chief Market Strategist at Geojit Financial Services.
Nine out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty Metal and Nifty Financial Services were outperforming the NSE platform by rising 1.06 per cent and 0.24 per cent, respectively. On the flipside, Nifty IT and Nifty Pharma fell 0.92 per cent and O.62 per cent, each, in early trade.
Mid- and small-cap shares were slightly positive as Nifty Midcap 100 edged 0.16 per cent higher and small-cap rose 0.43 per cent.
Adani Enterprises, Eicher Motors, Axis Bank, Hindalco and Grasim Industries were among the top gainers on the NSE platform today with their shares up as much as 1.30 per cent. In contrast, Infosys, Hero MotoCorp, SBI, HCL Tech and Wipro were among the top laggards.
Sensex rises 134 points or 0.22 per cent to trade at 60,971, Nifty moves 52 points or 0.29 per cent higher to trade at 18,105
In a given fight between 'stable domestic fundamental' and 'a stronger US dollar', we expect a later one-stronger dollar will dominate and the rupee will depreciate towards 83.50-84.00 over the short-term, said Amit Pabari, MD, CR Forex Advisors.
Sensex falls 138 points or 0.23 per cent to trade at 60,698 in pre-opening deals today.
Dalal Street stocks may open on a muted note today amid mixed set of cues from global markets. US treasury yields jumped and Wall Street stocks fell overnight. (Read more)
"There are two broad trends, one negative and the other positive, in the market now. The negative trend is the rising interest rates globally. The Fed’s message that the terminal rate in this rate hiking cycle would be higher than expected earlier is a negative for equity markets. Bond yields (10-year US bond yield is at 4.15%) and the dollar index (112.8) are moving up dragging equity markets down. But even in this unfavourable environment FII flows into India are rising. FIIs have been buyers in the cash market for the sixth straight trading day. This vote of confidence in India is a clear positive. For the near-term the influence of these negative and positive factors will keep the Nifty in a range with no breakouts or breakdowns," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. However, individual stocks will witness sharp movements responding to the Q2 results, he added.
Adani Enterprises: The company reported a quarterly profit that more than doubled, helped by strong performance at its integrated resources management and airports divisions.
Hero MotoCorp: The world's largest two-wheeler maker by sales, reported a bigger-than-expected fall in second-quarter profit as expenses rose and sales volume dipped.
Angel One: The retail brokerage firm said average client funding book in October was at Rs 1,575 crore, down 15.4 per cent from a year ago.
Vodafone Idea: The debt-laden telecom operator reported a wider loss for the second quarter, hit by a sustained decline in subscribers and higher expenses.
Schneider Electric Infrastructure: The company reported a profit in the second quarter, after winning a slew of orders following a pickup in economic activity.
LIC Housing Finance and PNB are in F&O (Futures and Options) ban period today. Stocks are placed under F&O ban when the derivative contracts in their securities cross 95 per cent of the market-wide position limit.
Foreign institutional investors (FIIs) have purchased Rs 677.62 crore worth of shares, while domestic institutional investors (DIIs) have sold Rs 732.11 crore worth of shares on November 3, provisional NSE data showed.
Major 'Call' open interests were seen at 18,100, 18,200 and 18,300 strikes with total open interest of 2,06,584, 1,53,279 and 1,34,208 contracts respectively. Top 'Call' open interest additions were seen at 18,050 and 18,100 strikes which added 69,442 and 66,561 contracts, respectively. 'Call' unwinding was seen at 18,500 strike, which shed 64,060 contracts, NSE data, as on November 3 (3:30 pm), showed.
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