Stock Market LIVE Updates: Sensex up 300pts, at 81,400, Nifty 150pts up, tests 24,900; Metal down
Stock Market Today: Indian benchmark equity indices were able to hold on to their gains, after a muted open on Tuesday.
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Share Market Today: Foreign institutional investors (FIIs) continued their selling spree, having net sold shares worth Rs 8,293.41 crore on Monday, October 7, while domestic institutional investors (DIIs) net bought shares worth Rs 13,245.12 crore. (
Stock Market LIVE Updates, Tuesday, October 8, 2024: Indian benchmark equity indices, after opening on a muted note, were trading higher on Tuesday.
At 12 PM, the BSE Sensex was up 387.17 points, or 0.48 per cent, at 81,437.17, and the Nifty 50 was at 24,933..75, up 138 points, or 0.56 per cent.
At market open, more than half the stocks on the BSE Sensex were trading in the red. Loses were led by Tata Steel (down 3.35 per cent), followed by Tata Motors, Power Grid Corp., JSW Steel, and HCLTech, while the top gainers were Mahindra & Mahindra (up 1.57 per cent), followed by Hindustan Unilever, SBI, UltraTech Cement, and Axis Bank.
On the Nifty 50, 29 of the 50 stocks were trading in the red. Mahindra & Mahindra (up 1.33 per cent), followed by Hindustan Unilever, Axis Bank, SBI, and Larsen & Toubro, were the top gainers, while loses were capped by Tata Steel (down 3.57 per cent), followed by Tata Motors, Hindalco Industries, JSW Steel, and BPCL.
In the broader markets, Nifty Midcap 100 was down 0.13 per cent, while the Nifty Smallcap 100 was flat.
Meanwhile, across sectors, the Metal index was the biggest loser, down 2.80 per cent, while Auto, IT, Pharma, PSU Bank and Realty indices were also trading lower.
In contrast, the Nifty Bank, Financial Services, FMCG, and Private Bank indices were trading higher.
Global stocks also began Tuesday on a cautious note while oil prices stayed elevated as the escalating conflict in the Middle East sapped risk appetite ahead of China's highly anticipated reopening after a long holiday.
The benchmark 10-year US Treasury yield held above 4 per cent in early Asia trade, as a robust US labour market prompted traders to heavily scale back their expectations for Federal Reserve rate cuts.
Hezbollah on Monday fired rockets at Israel's third-largest city, Haifa, and Israel looked poised to expand its offensive into Lebanon, one year after the devastating Hamas attack on Israel that sparked the Gaza war.
Heightened fears of a widespread conflict and disruptions to supply sent Brent crude futures surging above $80 a barrel for the first time in over a month in the previous session.
It was last 0.09 per cent higher at $81.00 per barrel, while US crude futures rose 0.14 per cent to $77.25 a barrel.
Investors in India would also keep an eye on the counting of votes for assembly elections in the state of Haryana and Union Territory of Jammu and Kashmir.
Meanwhile, on Friday, benchmark equity indices BSE Sensex and Nifty 50 gave up their initial gains to settle in the red on Monday, led by a sell-off across sectors.
The BSE Sensex shed 638.45 points, or 0.78 per cent, to settle at 81,050.
Similarly, the Nifty 50 fell 218.85 points, or 0.87 per cent, to end at 24,795.75.
Midcap, and Smallcap stocks were the worst hit in the broader markets, with Nifty Midcap 100 and Nifty Smallcap 100 indices ending down by 2.01 per cent, and 2.75 per cent, respectively.
The fear index (India VIX) ended 6.74 per cent higher at 15.08.
All sectoral indices, barring the Nifty IT index, ended in the red on Monday.
The PSU Bank, and Media indices were the worst hit, ending lower by over 3 per cent each. This was followed by OMCs and Metal indices, which fell by over 2 per cent.
That apart, Bank Nifty, Financial Services, Private Bank, Realty, Consumer Durables, and indices ended lower by over 1 per cent each.
The dour mood kept stocks on tenterhooks on Tuesday.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.05 per cent, while Asian stocks were mixed.
Mainland China's CSI 300 index gained more than 10 per cent, and the Shanghai Composite index climbed over 6 per cent, after markets there re-opened after a week-long holiday.
Japan's Nikkei 225 was down 1.01 per cent, while Hong Kong's Hang Seng index was down nearly 4 per cent.
Australia's stock benchmark was down 0.08 per cent and South Korea's Kospi was down 0.78 per cent.
MSCI's broadest index of Asia-Pacific shares climbed 0.4 per cent.
S&P 500 futures tacked on 0.03 per cent while Nasdaq futures lost 0.01 per cent.
Before the break, China announced its most aggressive stimulus measures since the pandemic, in a move which sent the CSI300 soaring 25 per cent over five sessions and sparked a rally across global share markets.
Focus will also be on a press conference from the country's National Development and Reform Commission on Tuesday, for further details around the stimulus pledges that drove the market frenzy.
The US dollar failed to get a further lift on the revised Fed expectations, having already had a strong run last week also owing to safe-haven gains linked to the Middle East conflict.
It was on the back foot in early Asia trade, falling 0.17 per cent against the Japanese yen to 147.97, while sterling rose 0.03 per cent to $1.3089.
Against a basket of currencies, the greenback eased 0.02 per cent to 102.44, though it hovered near a seven-week high hit on Friday.
Elsewhere, spot gold was little changed at $2,643.33 an ounce.
(With inputs from Reuters.)
12:29 PM![]()
Stock Market LIVE Updates: Garuda Construction IPO opens: GMP rises marginally; should you subscribe?
Stock Market LIVE Updates: The three-day subscription window for the initial public offering (IPO) of Garuda Construction and Engineering opens today. The IPO consists of a fresh issue of 18,300,000 shares and an offer for sale of 9,500,000 shares, each with a face value of Rs 5. The price band for the IPO is set at Rs 92-95 per share, with a lot size of 157 shares.
Investors can bid for a minimum of 157 shares and in multiples thereof. The IPO subscription window will close on Thursday, October 10, 2024. READ MORE
Investors can bid for a minimum of 157 shares and in multiples thereof. The IPO subscription window will close on Thursday, October 10, 2024. READ MORE
12:15 PM ![]()
Stock Market LIVE Updates: TCS Q2 Preview: Analysts expect single-digit profit rise, focus on outlook
Stock Market LIVE Updates: Tata Consultancy Services (TCS), the largest Indian information technology firm is set to report its financial performance for the July-September quarter of fiscal year 2024-25 (Q1FY25) on Thursday, October 10. The Indian IT major is expected to register a single digit rise in its topline and bottomline compared to the September quarter of FY24.
According to brokerages tracked by Business Standard, TCS will likely report an average revenue increase of 7.2 per cent year-on-year (Y-o-Y) to Rs 63,993.2 crore. READ MORE
12:08 PM ![]()
Stock Market LIVE Updates: Airtel in talks to buy Tata Play as digital TV industry sees shake-up
Stock Market LIVE Updates: Sunil Mittal-led Bharti Airtel is in advanced negotiations to acquire Tata Group’s loss-making Tata Play, the country’s largest direct-to-home (DTH) service provider, reported The Economic Times citing sources familiar with the matter.
The move is seen as a strategic effort by Airtel to bolster its presence in the digital TV space, which faces slow growth, while strengthening its bundled services to increase non-mobile revenues. READ MORE
12:02 PM
At 12 PM, the BSE Sensex was up 387.17 points, or 0.48 per cent, at 81,437.17, and the Nifty 50 was at 24,933..75, up 138 points, or 0.56 per cent. ![]()
Stock Market LIVE Updates: 12 PM market update - Sensex, Nifty maintain lead
Stock Market LIVE Updates: Indian benchmark equity indices, after opening on a muted note, were trading higher on Tuesday.
At 12 PM, the BSE Sensex was up 387.17 points, or 0.48 per cent, at 81,437.17, and the Nifty 50 was at 24,933..75, up 138 points, or 0.56 per cent.
11:55 AM![]()
Stock Market LIVE Updates: HEG surges 6% after buying 8.23% stake in GrafTech Int'l for Rs 250 crore
Stock Market LIVE Updates: Shares of HEG rallied 6 per cent to Rs 2,335 on the BSE in Tuesday’s intraday trade after the company informed the exchanges that it has acquired a 8.23 per cent stake in GrafTech International, for a total consideration of Rs 248.6 crore. READ MORE
11:43 AM
The company, in an exchange filing, said it has missed payment of instalment of principal of term loan to the tune of Rs 938.17 crore, apart from overdue interest of term loan and overdraft of Rs 183.88 crore.
The company added that its total indebtnes, including short- and long-term debt, stood at Rs 32,046.88 crore, which included bank loan of Rs 7,975.89 crore and SG Bond of Rs 24,070.99 crore.![]()
Stock Market LIVE Updates: MTNL misses repayment of principal and interest of Rs 1,122 cr
Stock Market LIVE Updates: MTNL today informed that it has defaulted on payment of interest and repayment of principal amount to the tune of Rs 1,122.05 crore, out of a total outstanding amount of Rs 7,975.89 crore.
The company, in an exchange filing, said it has missed payment of instalment of principal of term loan to the tune of Rs 938.17 crore, apart from overdue interest of term loan and overdraft of Rs 183.88 crore.
The company added that its total indebtnes, including short- and long-term debt, stood at Rs 32,046.88 crore, which included bank loan of Rs 7,975.89 crore and SG Bond of Rs 24,070.99 crore.
11:28 AM ![]()
Stock Market LIVE Updates: Metal index corrects for 4th day in a row; NMDC, Tata Steel slip up to 8%
Stock Market LIVE Updates: Shares of metal companies were trading weaker on Tuesday, down by up to 8 per cent on the National Stock Exchange (NSE) in today's intra-day trade.
Stocks of companies operating in the sector were under pressure due to profit booking by investors on concerns of disappointing earnings in the September quarter (Q2FY25) due to weak metal prices, apart from the lack of any new fiscal measures aimed at boosting demand and consumption in the Chinese economy, by the National Development and Reform Commission (NDRC), at a press conference today. READ MORE
11:14 AM ![]()
Stock Market LIVE Updates: Time to downgrade Indian stock markets? Sell India, buy China? Analyst view
Stock Market LIVE Updates: Developments over the last few weeks – flaring geopolitical conflict in West Asia that has triggered 18 per cent rise in crude oil prices to around $80 a barrel in a matter of days, stimulus measures announced by China to prop up its economy and lofty valuation of Indian markets (23x one-year forward earnings) – has seen foreign portfolio investors (FPIs) dump Indian stocks worth over Rs 30,000 crore in the first four trading days of October. READ MORE
11:02 AM
At 11 AM, the BSE Sensex was up 295.85 points, or 0.37 per cent, at 81,345.85, and the Nifty 50 was at 24,895, up 99.75 points, or 0.4 per cent. ![]()
Stock Market LIVE Updates: 11 AM market update - Sensex, Nifty hold onto gains
Stock Market LIVE Updates: Indian benchmark equity indices, after opening on a muted note, were slightly ahead on Tuesday.
At 11 AM, the BSE Sensex was up 295.85 points, or 0.37 per cent, at 81,345.85, and the Nifty 50 was at 24,895, up 99.75 points, or 0.4 per cent.
10:54 AM ![]()
Stock Market LIVE Updates: Will foreign investors continue to sell or return to India? Experts decode
Stock Market LIVE Updates: Indian equity markets witnessed a sudden withdrawal from foreign investors this month, with Rs 38,702.41 crore being withdrawn from the cash market over the last four sessions of October 2024. Consequently, benchmark indices suffered their worst losses in over two years, with the BSE Sensex and NSE Nifty falling over 5 per cent from its record high level.
That said, foreign investors have invested Rs 1,50,266 crore so far in 2024, and withdrawn Rs 93,792.41 crore from the Indian markets. Thus, despite the sell-off, foreign investors have been a net buyer for the year to date with a net purchase of Rs 56,473.59 crore. READ MORE
10:41 AM
The company, in an exchange filing submited in response to a clarification sought by the bourses, said, "We would like to submit that the Company has made detailed representations to the DoT and continues to be engaged with DOT for removal of the bank guarantee requirements for spectrum acquired before 2022."
"This is also an industry ask. As and when a final decision is taken by the DoT, the Company will make the necessary disclosures as required by law," it added.![]()
Stock Market LIVE Updates: Vi says it has asked DoT to remove bank guarantee requirement for spectrum
Stock Market LIVE Updates: Vodafone Idea today informed that it has requested the Department of Telecom to remove the bank guarantee requirements for spectrum acquired before 2022.
The company, in an exchange filing submited in response to a clarification sought by the bourses, said, "We would like to submit that the Company has made detailed representations to the DoT and continues to be engaged with DOT for removal of the bank guarantee requirements for spectrum acquired before 2022."
"This is also an industry ask. As and when a final decision is taken by the DoT, the Company will make the necessary disclosures as required by law," it added.
10:29 AM
Apart from that, other factors on the radar were the scale of fiscal expansion that the agency would announce, and whether it would target the problem of consumption in the Chinese economy, according to CNBC TV18.
Ahya said the agency announced very small efforts towards boosting demand, and also didn't give any fiscal measure numbers.
He added that the contours of the announcement were even lower than what the markets and they were expecting. ![]()
Stock Market LIVE Updates: Goldman Sachs' Chetan Ahya says NDRC didn't announce any measures to boost demand
Stock Market LIVE Updates: Goldman Sachs' Chetan Ahya, says they were keeping an eye on whether fiscal deficit would grow in China, during National Development and Reform Commission' (NDRC) press conference announcements today.
Apart from that, other factors on the radar were the scale of fiscal expansion that the agency would announce, and whether it would target the problem of consumption in the Chinese economy, according to CNBC TV18.
Ahya said the agency announced very small efforts towards boosting demand, and also didn't give any fiscal measure numbers.
He added that the contours of the announcement were even lower than what the markets and they were expecting.
10:17 AM
The challenge was launched by the Defence Innovation Organisation (DIO), under the Department of Defence Production (DDP), Ministry of Defence, as ADITI (Acing Development of Innovative Technologies with iDEX), a Scheme under iDEX for promoting innovations in critical and strategic defence technologies.
As per the Scheme, Paras Anti-Drone Technologies is now eligible for a grant amount of upto 50 per cent of the Product Development Budget (PDB), with a maximum limit of Rs 25 crore, the company said in an exchange filing. ![]()
Stock Market LIVE Updates: Paras Defence's arm wins mobile ground station development contest organised by MoD
Stock Market LIVE Updates: Paras Defence and Space Technologies today informed that its subsidiary, Paras Anti-Drone Technologies has won the ADITI 1.0 challenged for 'Mobile Ground Station in S/X/Ka band for Transmitting and Receiving Data from Satellites'.
The challenge was launched by the Defence Innovation Organisation (DIO), under the Department of Defence Production (DDP), Ministry of Defence, as ADITI (Acing Development of Innovative Technologies with iDEX), a Scheme under iDEX for promoting innovations in critical and strategic defence technologies.
As per the Scheme, Paras Anti-Drone Technologies is now eligible for a grant amount of upto 50 per cent of the Product Development Budget (PDB), with a maximum limit of Rs 25 crore, the company said in an exchange filing.
10:03 AM
At 10 AM, the BSE Sensex was up 216 points, or 0.27 per cent, at 81,266, and the Nifty 50 was at 24,837, up 41 points, or 0.17 per cent.![]()
Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty hold onto slim gains
Stock Market LIVE Updates: Indian benchmark equity indices, after opening on a muted note, were ahead slightly on Tuesday.
At 10 AM, the BSE Sensex was up 216 points, or 0.27 per cent, at 81,266, and the Nifty 50 was at 24,837, up 41 points, or 0.17 per cent.
9:57 AM 
Stock Market LIVE Updates: J&K Election Results Live Updates - National Conference ahead in J&K
Stock Market LIVE Updates: According to data available on the election commission website, the Jammu & Kashmir National Conference was leading on 40 seats, while the Bharatiya Janata Party was ahead in 23 constituencies, followed by the Indian National Congress, ahead in 8 constituencies.
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First Published: Oct 08 2024 | 8:00 AM IST
