Share Market News Today Updates, 9 November 2022: Trends on SGX Nifty indicated a higher opening for the domestic markets. Share Market News Live: Indian equity benchmarks slipped into the red in Wednesday's trade amid weak cues from Asian stocks. The domestic indices started on a higher note but soon gave up most of their gains, dragged by metal, consumer durables and pharma stocks. Asian shares surged as Japan's Nikkei index gained slipped 0.16 per cent, the Shanghai Composite index fell 0.52 per cent and Hang Seng Index edged 0.02 per cent lower. However, South Korea's KOSPI rose 1.11 per cent. China stocks struggled in early trade as rising Covid-19 cases in the country and its factory gate prices for October dropping for the first time since December 2020 hampered investor sentiment.
Overnight, all three major US stock indexes notched their third straight session of gains. Traders also awaited US inflation data, due on Thursday, as well as the results of the US midterm elections.
On the domestic front, Tata Motors, Petronet LNG and Lupin are among the companies expected to report their quarterly results later in the day.
Meanwhile, foreign institutional investors bought a net of Rs 1,949 crore equities on Monday, while domestic investors sold Rs 844 crore of shares, as per provisional data available with the National Stock Exchange.
Equity benchmarks were closed on Tuesday due to 'Gurunanak Jayanti'.
Here are the share market Live Updates:
Shares of tyre maker MRF plunged 5.53 per cent to trade at Rs 89,669.75. The stock hit an intraday low of Rs 88,732.10 today.
Sensex falls 48 points or 0.08 per cent to trade at 61,137, Nifty moves 7 points or 0.04 per cent down to trade at 18,196; Hindalco, Divi's Lab, PowerGrid, Grasim, Sun Pharma among top drags
Shares of Coffee Day Enterprises climbed 6.85 per cent to trade at Rs 53.05. The stock touched an intraday high of Rs 53.65 today.
Shares of Dr. Lal PathLabs plunged 6.84 per cent to trade at Rs 2,445.95. The stock hit an intraday low of Rs 2,395.35 today.
Shares of IDBI Bank jumped 6.43 per cent to trade at Rs 49.65. The stock touched an intraday high of Rs 51.20 today.
Sensex up 10 points or 0.02 per cent to trade at 61,195, Nifty moves 7 points or 0.04 per cent to trade at 18,210; Coal India, Adani Ports, IndusInd Bank, Britannia, Apollo Hospitals among top gainers
"On the technical front, Nifty formed a Doji candle at the high, indicating presence of indecisiveness at the crucial resistance point of 18,250-18,300. Though short to medium-term trend continues to be positive and in all likelihood the index is on the path to challenge the all-time high of 18,600 in the coming weeks," said Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking Ltd.
Hindustan Construction Co jumped 4.85 per cent to trade at Rs 15.36. The stock touched an intraday high of Rs 15.50 today.
The overall market breadth stood positive as 1,829 shares were seen advancing while 917 were declining on BSE.
11 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty FMCG, Nifty IT and Nifty Bank were outperforming the NSE platform by rising 0.58 per cent, 0.29 per cent and 0.21 per cent, respectively. On the flipside, Nifty Metal and Nifty Pharma fell 0.10 per cent and O.06 per cent, each, in early trade.
Mid- and small-cap shares were slightly positive as Nifty Midcap 100 rose 0.16 per cent and small-cap edged 0.09 per cent higher.
Coal India, Cipla, Nestle India, Dr Reddy's and Adani Ports were among the top gainers on the NSE platform today with their shares up as much as 3.23 per cent. In contrast, Hindalco, Divi's Lab, Reliance Industries, ICICI Bank and Hindustan Unilever were among the top laggards.
Sensex rises 173 points or 0.28 per cent to trade at 61,358, Nifty moves 52 points or 0.29 per cent higher to trade at 18,255
"The strong momentum and favourable sentiments in the market can take the Nifty to record highs soon. The favourable tailwind from the mother market US and the sustained FII buying are strong positives. If the US CPI numbers due tomorrow indicate a moderation in inflation, that would be a powerful trigger to push the market higher. Since India is the best-performing large market in the world this year, FIIs can’t afford to miss the rally. This is the reason why FIIs have been sustained buyers during the last 8 trading sessions with a total buy figure of Rs 16,670 crore. The dip in the dollar index below 110 will nudge FIIs to buy more," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Nifty is likely to face a significant correction only after crossing the all-time high 18,604, he added.
In the short run, US dollar-Indian rupee pair is likely to take support around 81.20 levels and rebound close to 82.40 levels as the pullback seems to be news-driven and short-lived, said Amit Pabari, MD, CR Forex Advisors.
Paytm: The digital payments firm reported a 76 per cent jump in second-quarter revenue, helped in part by a surge in loan growth, while the company reiterated that it would turn profitable by September 2023.
ONGC: Oil and Natural Gas Corp has applied to the new Russian operator of the Sakhalin-1 to retain its stake in the oil and gas project in the Far East, a person familiar with the development told news agency Reuters.
Coal India: The state-run company's quarterly profit more than doubled as production and offtake volumes at the world's largest coal miner increased due to higher power demand amid elevated global prices.
InterGlobe Aviation: IndiGo airline operator said it had grounded around 30 aircraft, or around 10% of its fleet, due to global supply chain disruptions.
Jubilant FoodWorks: The company, which runs the Domino's Pizza chain of restaurants in India, reported a near-10 per cent jump in second-quarter profit.
Dr. Lal PathLabs: The medical diagnostics firm reported a 24.5 per cent drop in September quarter profit as a sustained decline in revenue and volume from its Covid-19-related business and higher expenses weighed.
Godrej Consumer Products: The company reported a sharper-than-expected drop in second-quarter profit, as expenses climbed, while Indonesia sales continued to decline.
No stock is 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 1,948.51 crore worth of shares, while domestic institutional investors (DIIs) have sold Rs 844.20 crore worth of shares on November 7, provisional NSE data showed.
Trends on SGX Nifty indicated a higher opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 60.5 points or 0.33 per cent higher to trade at 18,408.
The benchmark BSE Sensex had climbed 235 points or 0.39 per cent to close at 61,185 on Monday, while the broader NSE Nifty had moved 86 points or 0.47 per cent higher to settle at 18,203.
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