sensex today: Stock Market Highlights: Nifty forming higher lows for 2 days. What investors should do on Thursday – The Economic Times

Tech View: Nifty forming higher lows for 2 days. What investors should do on Thursday

The Headline index Nifty on Tuesday formed a long bullish candle on the daily charts as it ended with a gain of 387 points. The index has been forming higher bottoms for the last two sessions, indicating the continuation of the uptrend in the near future.Now, the index has to hold above the 17,200 zones for an up move towards 17,442 and 17,500 zones, whereas support can be seen at 17,167 and 17,071 zones, said Chandan Taparia of Motilal Oswal Financial Services.

Indian Markets are showing strength after making near term bottom around last week’s Nifty low of ~16800 levels. We expect momentum in Nifty to continue towards 17650-17700 zone. The earning season is about to begin with TCS reporting its result on 10th Oct’22. Being seasonally strong quarter, IT companies are expected to report healthy 9% constant currency QoQ PAT growth in Q2. However, commentary around weakening global macro and adverse FX impact would be key monitorable. Pre quarterly updates from banking and financial companies indicate strong Q2FY23 earnings, hence this sector could remain in momentum in the near term. We expect stock specific action with pre quarterly updates coming in over the next few days.

– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

Mirroring a robust overnight surge in Wall Street and upbeat domestic business data released by banks, the domestic market ended the day on a cheerful note. An unexpected slowdown in the US Manufacturing PMI gave hope that the US Fed would slow the pace of policy tightening. Following suit, US bond yields fell in tandem with the US dollar.

– Vinod Nair, Head of Research at Geojit Financial Services

Rupee rises as lower U.S. yields whet risk appetite, hurt dollar

The Indian rupee closed higher against the U.S. currency on Tuesday as a sharp decline in Treasury yields stoked a rally in global equities and dampened demand for the dollar. The rupee ended at 81.52 per U.S. dollar, up from 81.8725 in the previous session. The local unit opened higher at 81.67 and reached a day’s high of 81.3650. The rupee’s performance on Tuesday was broadly in line with its Asian peers. The currency of Asia’s third largest economy would likely have fared better had it not been for oil prices. The December Brent crude contract rose 0.7% to $89.48, after climbing more than 4% in the previous session.

Markets recovered strongly after Monday’s slide and gained over 2%, tracking firm global cues. The Nifty index opened gap up and gradually inched higher as the session progressed and finally settled around the day’s high to close at 17,274.30 levels. All sectoral indices participated in the move wherein metal, banking and IT were among the top gainers. The broader indices too witnessed decent traction and gained in the range of 1.7-2.5%.Markets are currently dancing to the global tunes and the rebound in the US markets has triggered this rebound. Going ahead, Nifty should hold the 17,200 mark to maintain the positive bias and inch towards the 17,400+ zone. We reiterate our view to focus more on stock selection and risk management citing excessive volatility.

– Ajit Mishra, VP – Research, Religare Broking

All sectors close in the green on Tuesday

Closing Bell: Bulls stage a strong rebound as Sensex rises 1,277 points, Nifty above 17,250; all sectors end with gains

Gold jumps Rs 980; silver zooms Rs 3,790

Gold prices in the national capital jumped Rs 980 to Rs 51,718 per 10 grams on Tuesday amid a rally in the prices of precious metal in the international market, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,738 per 10 grams.Silver prices zoomed by Rs 3,790 to Rs 61,997 per kg from Rs 58,207 per kg.In the international market, gold was trading in green at USD 1,710 per ounce while silver was up at USD 20.99 per ounce.

Shares of construction and infrastructure development company Dilip Buildcon rallied nearly 11% after the company through its joint venture RBL-DBL received a letter of acceptance (LOA) for Surat Metro Rail Project, worth Rs 1,061.00 crore.

Price as on 04 Oct, 2022 03:17 PM, Click on company names for their live prices.

Bitcoin reclaims $20,000 level, rises 2.2%

Market LIVE Updates: In pink of health! 5 top pharma stock gainers at this hour

Price as on 04 Oct, 2022 02:40 PM, Click on company names for their live prices.

Zydus Lifesciences gets tentative FDA nod for Amantadine extended-release capsules

Price as on 04 Oct, 2022 02:09 PM, Click on company names for their live prices.

Reliance Industries’ subsidiary RSBVL and US-based Sanmina Corporation have completed the deal to set up an electronics manufacturing joint venture at a total enterprise valuation of about Rs 3,300 crore.

Price as on 04 Oct, 2022 01:34 PM, Click on company names for their live prices.

European shares rally sharply ahead of producer price data

European shares climbed for the third-straight session on Tuesday, as investors scooped up beaten-down shares of technology, travel and leisure companies, while also looking ahead to a reading on inflation data due later in the day. The region-wide STOXX 600 index was up 1.8% by 0722 GMT, hitting its highest level since Sept. 23 along the way, and tracking a solid rally on Wall Street overnight. London’s blue-chip FTSE 100 index rose 1.4%, building on gains from the previous session after the UK conservative government’s decision to reverse parts of its controversial tax cut plans.

Edelweiss arm aims to raise $1 bn in third distressed asset fund

Edelweiss Alternative on Tuesday said it is targeting to raise USD 1 billion (about Rs 8,000 crore) in its third distressed asset fund, eyeing strong opportunities in the space. The company has already raised USD 425 million or Rs 3,400 crore for the third ‘Special Situations Fund’ (SSF III) from large insurance companies and pension funds globally, as also domestic high net individuals and family offices, it said in a statement. Under an SSF, the company focusses on asset heavy companies and identifies viable underlying businesses that have a strong turnaround potential, or invest in situations where resolution of asset requires capital and domain expertise, it said.

Lupin gets USFDA approval for new drug application for Darunavir Tablets, 600 mg and 800 mg, a generic equivalent of Prezista® Tablets of Janssen Products, LP.

Price as on 04 Oct, 2022 12:57 PM, Click on company names for their live prices.

Japan’s Nikkei jumps 3% on Wall Street strength, bargain-buying

Japan’s Nikkei jumped 3% on Tuesday to record its best session in more than six months, as investors scooped up beaten-down heavyweights and growth stocks after Wall Street closed sharply higher overnight. The Nikkei share average advanced 2.96% to 26,992.21 in broad-based buying, marking its biggest daily gain since March 23, and posting its highest close since Sept. 22. The broader Topix jumped 3.21% to 1,906.89 in its sharpest daily gain since March 10.Source: Reuters

STOCK IN FOCUS: HDFC BANK

Electronic Mart IPO subscribed 38% in over 2 hours

Dilip Buildcon via JV got letter of acceptance from Gujarat Metro Rail Corp for project cost of Rs 1061 crore

Price as on 04 Oct, 2022 12:24 PM, Click on company names for their live prices.

Marico said it expects consumption trends to improve in the second half of current fiscal.

Price as on 04 Oct, 2022 12:14 PM, Click on company names for their live prices.

Shares of Radhakishan Damani-backed Avenue Supermarts, which runs the DMart chain of retail stores, rose nearly 4% in Tuesday’s trade after the company reported a standalone revenue from operations of Rs 10,385 crore in the September quarter. The revenue increased 35.8% as compared to the year-ago period. Citing September quarter data, brokerage firm Motilal Oswal gave a neutral call on the stock with a reduced target price of Rs 4,100, which is 8.6% lower from the current market price of Rs 4,485.60.

Price as on 04 Oct, 2022 12:02 PM, Click on company names for their live prices.

INDIA VIX eases over 7%

Market Live Updates: Shares of KEC International rallied over 5 per cent in Tuesday’s trade after the infrastructure company secured new orders of Rs 1,407 crore across segments. The transmission and distribution segment received orders from the Middle East, while the railways business bagged an order for signalling & telecommunication works of Train Collision Avoidance System (TCAS) under ‘Kavach’ in consortium in India, the company said in a BSE filing.

Price as on 04 Oct, 2022 11:17 AM, Click on company names for their live prices.

Veer Energy & Infrastructure to develop 15 MW wind solar hybrid project. The company signed a term sheet with Kintech Synergy. It also signed deal with abrel century energy to buy land for solar project capacity of 10 MW.

Price as on 04 Oct, 2022 10:48 AM, Click on company names for their live prices.

Market Live Updates: Shares of Mahindra & Mahindra Financial Services zoomed after the company provided a strong update for the September quarter. In an exchange filing, the non banking financial services (NFBC) firm said that its business continued its momentum with a disbursement of about Rs 4,080 crore, delivering a 110 per cent yearly growth.

Price as on 04 Oct, 2022 10:37 AM, Click on company names for their live prices.

Board of Directors of Easy Trip Planners to meet on Monday, October 10, 2022, to consider issue of bonus shares, split of shares; stock surges 6%

Price as on 04 Oct, 2022 10:14 AM, Click on company names for their live prices.

Electronics Mart India IPO kicks off: Should you subscribe?

The Rs 500-crore initial public offering (IPO) of Electronics Mart India (EMIL) kicked off for subscription on Tuesday, October 4. The company is selling its shares in the range of Rs 56-59 apiece. Incorporated in 1980, Electronics Mart India is the fourth-largest consumer durable and electronics retailer in India with a leadership position in South India, particularly in the states of Telangana and Andhra Pradesh.

Market Live Updates: Metal pack rallies the most among sectoral peers. Check out the top gainers from metal and mining stocks

Price as on 04 Oct, 2022 10:00 AM, Click on company names for their live prices.

Top gainers on NSE in opening deals

Price as on 04 Oct, 2022 09:35 AM, Click on company names for their live prices.

Market Live Updates: Sensex extends gains, rallies over 1000 points

In the last eight out of ten years Sensex has given positive returns in October. Also, markets have a record of troughing out in October. This may happen this October too. The ‘risk-off, risk-on’ texture of the market is in response to fast changing economic and market signals. For the near-term the market sentiments have turned positive with declining trend in dollar and US bond yields. If this trend continues FIIs will again turn big buyers in India and they will not get stocks cheap. Financials and autos are again set to lead the uptrend since their fundamentals and prospects are strong. Capital goods are likely to join the rally and telecom is on strong wicket.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

SEA OF GREEN… all indices gain in opening trade

OPENING BELL: Sensex surges 800 points, Nifty above 17,150; Adani Green rallies 6%, Hindalco 5%

Pre-open session: Sensex surges over 500 points; Nifty above 17,100

Britain’s tax backdown bounces stocks and sterling

Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying bonds and the pound.

Market Live Updates: SGX Nifty signals a gap-up start

Nifty futures on the Singapore Exchange traded 237.5 points, or 1.41 per cent, higher at 17,106, signaling that Dalal Street was headed for a gap-up start on Tuesday.

Tech View: Nifty stuck in a range! What investors should do?

After Friday’s pullback rally, headline index Nifty formed a bearish Harami candle on the daily charts as it closed below its 200-day moving average (DMA), which is broadly negative.

Tokyo shares open up after US gains

Tokyo stocks opened higher Tuesday after Wall Street shares rebounded, but a North Korean missile test shortly before the opening bell provided a reminder to investors of geopolitical risks. The benchmark Nikkei 225 index was up 1.82 percent, or 477.51 points, to 26,693.30 in early trade, while the broader Topix index added 2.01 percent, or 37.17 points, to 1,884.75.

Market Live Updates: Wall Street closes with sharp gains as final quarter begins

Wall Street’s three major indexes rallied to close over 2% on Monday as U.S. Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year’s final quarter.

Oil prices inch higher ahead of OPEC+ meeting to discuss supply cuts

Oil prices inched higher in early Asian trade on Tuesday, on expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday but concerns about the global economy capped gains.

Rupee declines by 42 paise to 81.82 against dollar

The rupee fell by 42 paise to close at 81.82 against the US dollar on Monday, snapping its two-session gaining streak as heavy selling in domestic equities and a spike in crude oil prices weighed on the local unit.

Market Live Updates: Sensex, Nifty on Monday

The 30-share Sensex plunged 638.11 points to end at 56,788. Its broader peer, Nifty50, ended at 16,887, down 207 points.

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