Share Market Highlights: Sensex soars 684 pts, Nifty ends above 17100 on strong global cues, IT leads gains

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity markets bounced back on Friday, tracking gains is US and Asian markets. The BSE benchmark index soared to a high of 58,435, up over 1100 pts in intra-day, led by strong gains in IT major Infosys, HDFC and HDFC Bank. Both indices surged nearly 2 per cent intraday, but pared gains in the latter half of the trading sessions. The Sensex ended 685 points higher at 57,920, and NSE Nifty 50 index rallied past the 17,300-level in early deals, but finally settled at 17,186, up 169 points. Bank, capital goods, healthcare and IT indices rose 0.5-1.8 per cent, while metal, power and oil & gas indices down 0.5-1 per cent each.

Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 14 September, Friday

15:57 (IST) 14 Oct 2022 Indian share market to be dominated by global news flows

“In the past week, the Nifty and Sensex were largely flat. Till Thursday, the markets were cautious ahead of the release of the US CPI print, however, gained in the last day of week. Both BSE Midcap and SmallCap underperformed and corrected 1.9% and 0.98% respectively. On the economy front, September CPI inflation for India rose to 7.41% (August: 7%), led by rising food prices, while August IIP contracted by 0.8%. FPIs were net sellers in the past five trading sessions, while DIIs were net buyers in the same period. Markets going ahead may be dominated by global news flows and Q2FY23 results.”~Shrikant Chouhan, Head of equity research (Retail), Kotak Securities Ltd

15:37 (IST) 14 Oct 2022 Nifty, Sensex end in green

Benchmark indices closed on a positive note. While Sensex ended 684 pts or 1.2% higher at 57919, NSE Nifty 50 settled above 17100, up 1.1%.

14:49 (IST) 14 Oct 2022 Buy on dips in 16800 region

“We urge investors to buy equities at the current time on any dips in the 16800 regions. Investors can acquire high-quality equities in the capital goods and infrastructure sectors right now since there are hints of significant industry capex,”~Rahul Goud, Research Analyst – Equity Research, CapitalVia Research

14:47 (IST) 14 Oct 2022 What is fuelling market rally today?

Benchmark indices are surging throughout today’s trading session, with the Nifty rising by 290 points. The IT and Bank indexes are beating the rest, and the Nifty is currently trading at 17282. All indices are in green. In contrast to expectations of 8.1, the U.S. consumer prices index (CPI) report from yesterday showed a growth of 8.2% annually, fueling betting for significant rate hikes. However, the market is now attempting to discount the possibility that inflation may have peaked soon. Because of this, markets are celebrating the data even though inflation figures are higher than expected. On the domestic front, wholesale price-based inflation fell to 10.7% in September for the fourth consecutive month as a result of a decrease in the cost of food, fuel, and manufactured goods, which is also strengthening investor confidence.”~Rahul Goud, Research Analyst – Equity Research, CapitalVia Research

14:43 (IST) 14 Oct 2022 Short-term market volatility to continue; Buy quality co stocks at reasonable price

“The Indian markets are following their global counterparts, which were significantly driven by short covering and also helped by market noise about lower terminal rate expectations from ECB and noise about the UK reversing the planned tax cuts. We expect short-term market volatility to continue, and thus, we advise investors to stick to investing in good quality companies available at a reasonable price.”~Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS

14:37 (IST) 14 Oct 2022 Nykaa hits lowest level since listing; stock slips 53% from record high

Nykaa stock hit lowest level since its listing in November last year and was down for the fourth straight day at Rs 1,206.90, falling 6 per cent, during the period. In comparison, the S&P BSE Sensex was up 1.8 per cent at 58,245 points.

14:24 (IST) 14 Oct 2022 Coal India inks MoU with RVUNL for 1190 MW solar project

Coal India has signed a memorandum of understanding (MoU) for setting up 1,190 MW solar power project, with Rajasthan Rajya Vidyut Utpadan Nigam, the power generator for state of Rajasthan. This is CIL’s first of its kind MoU for a solar power project with any state government. In an exchange filing, the company said, “Aimed at an estimated cost of approximately Rs 8,000 crore, CIL’s solar power project is slated to come up in RVUNL’s 2,000 MW solar power park at Bikaner, in a phased manner, in the sunny state of Rajasthan.” The stock was quoting Rs 236.65 apiece on the NSE, up 0.9 per cent.

14:16 (IST) 14 Oct 2022 BSE 500: Top losers

Poly Medicure down 2.4 per cent was the top loser among the BSE 500 stocks so far. Varun Beverages, Schaeffler India, SPARC and National Aluminium were the other noteable losers intraday

14:11 (IST) 14 Oct 2022 What’s pulling indices up?

“Indian equity market benchmark indices Sensex & Nifty are up around 2% in today’s trading session thanks to a sharp short-covering rally in the US market post CPI numbers. Our markets were also oversold as FII’s net short position in the index future was 81% and PCR was 0.71. Call writers at a 17000 strike price are on the back foot after a gap-up opening therefore we are getting the support of short covering. The results of Infosys and Mind-tree were better than expected which is also supporting the market. The overall outlook of our market is bullish as Nifty is respecting its 200-DMA beautifully. Investors are advised to look for buying opportunities at every dip. Domestic economy-facing stocks may continue to do well while selective buying in IT, Chemical and Pharma names can be done.”~Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd

14:09 (IST) 14 Oct 2022 Federal Bank Q2 net rises 53% to Rs 704 cr; stock soars 5%

Federal Bank has reported a 53 per cent jump in Q2 net profit at Rs 704 crore. According to a release issued by the bank to the BSE, operating profit rose to highest-ever Rs 1,212 crore. 

13:41 (IST) 14 Oct 2022 BSE 500: Top gainers so far

IFB Industries up 8.6 per cent was the top gainer among the BSE 500 stocks so far intraday. It was followed by Brightcom Group, TCNS Clothing, Tata Investment Corporation and GNFC, up over 5 per cent each.

13:41 (IST) 14 Oct 2022 Airtel Africa acquires 60 MHz of additional spectrum

Airtel Africa reprtedly acquires 60 MHz of additional spectrum across 800 MHz & 2,600 MHz bands for $29 million. Bharti Airtel was quoting at Rs 772.85, up Rs 4.05, or 0.53 per cent.

13:35 (IST) 14 Oct 2022 FM Sitharaman offers open source network India Stack to other countries

The country’s open source network for digital public goods and application programming interface, India Stack, is available to other countries that need such expertise, said FM Nirmala Sitharaman. Speaking at an event at the Johns Hopkins School of Advanced International Studies (SAIS) in Washington DC, Sitharaman said India had set a global benchmark in payments digitization with its Unified Payments Interface (UPI). “Standing here I want to reiterate that India’s public goods are available for countries which need it,” Sitharaman said, adding that India Stack is helping small and medium industries to scale up. “So if India today can talk of a digital stack, it’s not talking of just payment where UPI, which is today acceptable in Singapore, UAE, and many other countries. We are not talking of just Rupay cards, credit cards, QR codes. The apps that are under this larger umbrella of NPCI are all available there, and available for any country which wants it,” she said, referring to the National Payment Corporation of India.”

13:23 (IST) 14 Oct 2022 Bajaj Auto shares in focus

Bajaj Auto is expected to see good growth in domestic sales volume, but export sales volume could prove a drag on September quarter numbers. Brokerages expect the auto major’s revenue to grow around around 10 per cent on-year, and operating profit to rise 11-12.5 per cent on-year.

13:22 (IST) 14 Oct 2022 Indices hold firmly in green, up 1.5%

Bulls took control of Dalal Street as indices edged higher in Friday’s intra-day trade amid strong global cues and easing crude oil prices. Nifty 50 surged over 300 points to trade above 17,300 levels and the BSE Sensex climbed over 1,000 points to trade at 58,267 levels. The strength spilled across broader markets as Nifty MidCap 100 and SmallCap 100 advanced over 1 per cent each. Volatility gauge, India VIX, meanwhile, slipped over 10 per cent.

12:48 (IST) 14 Oct 2022 L&T shares rise 3%

L&T gains 3% on significant order wins for water & effluent treatment biz. So far this month, L&T has won a total of five ‘significant’ orders across diverse segments.

12:33 (IST) 14 Oct 2022 F&O expiry 20 Oct Nifty must hold above 17250 for upmove; Bank Nifty outlook positive, avoid aggressive bets

Bank Nifty seems to be clearly trapped within a range and in the last four sessions have moved in a sequence of one blue candle followed by a red candle. Now it would be interesting to see how markets trade on the final day of the week. Immediate support is seen at 38400 below which 38000 can be tested which is the 89EMA. On the flip side, 39200 followed by 39600 would be the key resistance. Considering the placement of key indicators, we remain hopeful for the bulls but one should ideally avoid aggressive bets and keep an eye on global development as well.

Read full story

12:31 (IST) 14 Oct 2022 WPI inflation eases in Sep

Wholesale inflation eases to 10.7% in September from 12.41 in August. Inflation in September, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas.

12:10 (IST) 14 Oct 2022 Sensex top contributors

Reliance Industries, HDFC Bank, ICICI Bank, Infosys and Bajaj Finance were among the positive contributors to the Sensex.

12:09 (IST) 14 Oct 2022 Bank stocks rise

BSE Bank index rose 2 per cent led by the HDFC Bank, Kotak Mahindra Bank, AU Small Finance Bank

11:20 (IST) 14 Oct 2022 MCX Gold trend neutral amid weak Rupee; investors looking to make fresh entry may go long

Gold market has been overwhelmed by the relentless strength of the dollar during September and start of October. Gold had breached $1700 this October and is currently trading at $1668. Yesterday with year-on-year US inflation coming higher than expected, we saw knee jerk reaction where gold witnessed sharp selloff. The reason was anticipation that Fed will continue to push rates higher to bring inflation under control. But gold along with equity assets reversed its course and ended in green. Many financial metrics are flashing red. Five-year charts show major currencies, including the Yen, Pound, Dollar, and Yuan are at extremes.

Read full story

10:58 (IST) 14 Oct 2022 Anand Rathi Wealth hits record high,

Anand Rathi Wealth shares soared 8% on strong Q2 results to hit record high. The brokerage reported strong growth in asset under management (AUM) of 16 per cent on-year at Rs 35,842 crore.

10:32 (IST) 14 Oct 2022 Tata Steel clarifies on UK exit reports

Tata Steel on October 14 clarified on the news report regarding talks of exit from the UK Business. In an exclusive interaction with Moneycontrol, Tata Steel’s chief financial officer (CFO) Koushik Chatterjee said that the company is still actively engaging with the UK Government regarding the subsidy issue, and any talk of exit is speculative.

10:21 (IST) 14 Oct 2022 Infosys surges 5%; Q2 earnings, Rs 9,300 cr share buyback lifts sentiment

The IT major has increased the lower end of the revenue guidance keeping upper end constant i.e. revenue guidance changed from 14-16 per cent to 15-16 per cent in constant currency terms.

09:23 (IST) 14 Oct 2022 Mindtree shares rise 2%

Mindtree share price rose over 2 per cent after the company reported 27 per cent rise in net profit to Rs 509 crore in Q2FY23, which was above street estimates. 

09:20 (IST) 14 Oct 2022 Nifty top gainers

Infosys, ICICI Bank, SBI, Larsen and Toubro and Bajaj Finance were among major gainers on the Nifty.

09:18 (IST) 14 Oct 2022 Bulls back on Dalal Street

Indian benchmark indices opened gap-up amid positive global cues with Nifty above 17,300. The Sensex was up 1,068.31 points or 1.87% at 58303.64, and the Nifty was up 295 points or 1.73% at 17309.30.

09:08 (IST) 14 Oct 2022 Rupee opens higher

Indian rupee opened 8 paise higher at 82.27 per dollar on against the previous close of 82.35.

09:07 (IST) 14 Oct 2022 Nifty, Sensex surge 1% in pre-open

Benchmark indices are trading firm in the pre-opening session on the back of strong global cues. The Sensex was up 435.06 points or 0.76% at 57670.39, and the Nifty was up 277.20 points or 1.63% at 17291.50.

08:41 (IST) 14 Oct 2022 Nifty could now face resistance at 17262

Indian markets could open sharply higher, in line with higher Asian markets today and sharply positive US markets on Thursday. Nifty fell once again on 13 October after a one day reversal on the previous session pulled down by global uncertainties on interest rate moves. At close, Nifty was down 0.64% or 109.3 points at 17014.4. Nifty flattered on Wednesday to deceive once again on Thursday. Nifty has formed a triple bottom over the past three days in the 16950-16960 band. Post the return of positive sentiments across the globe, on upmoves, Nifty could now face resistance at 17262 and then at 17429.”~Deepak Jasani, Head of Retail Research, HDFC Securities

08:30 (IST) 14 Oct 2022 Infosys board approves share buyback

Infosys board has approved a share buyback program amounting to Rs 9,300 crore through the open market route. The maximum price set for this buyback is Rs 1,850 per equity share having face value of Rs 5 each and is subject to the approval of the members of the company by way of a special resolution and all other applicable statutory/ regulatory approvals. This will constitute 14.84 per cent and 13.31 per cent of its total paid-up capital and free reserves as on 30 September 2022 (on a standalone and consolidated basis, respectively). At the maximum buyback price, the possible maximum number of equity shares bought back would be 50,270,270 shares, which will comprise approximately 1.19 per cent of the paid-up shares of the company as of 30 September 2022 (on a standalone basis).

08:18 (IST) 14 Oct 2022 SGX Nifty climbs higher, gap-up start likely for Nifty, Sensex

Trends on SGX Nifty hinted at a gap-up start for the broader index in India. Nifty futures were trading around 17,286.50 level, up 329.50 points or 1.95% on the Singaporean Exchange.

07:58 (IST) 14 Oct 2022 Nifty, Bank Nifty support and resistance

“The support for Nifty has shifted around 16900 levels while on the upside 17200 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 38000 levels while resistance at 39300 levels. Overall, Nifty is consolidating near to support zone breaching below the 16950 level can show a downside rally in the counter.”~Palak Kothari, Senior technical analyst, Choice Broking

07:57 (IST) 14 Oct 2022 Nifty may dip down to 16750 in next few session

“The underlying trend of Nifty remains choppy and the market is not showing any strength to sustain the highs. There is a possibility of one more dip down to 16800-16750 levels in the next few sessions before showing any meaningful upside bounce from the lows. Immediate resistance is placed at 17150 levels,” ~Nagaraj Shetti, Technical Research Analyst, HDFC Securities

07:56 (IST) 14 Oct 2022 Nifty levels to watch for

“Nifty has formed a triple bottom over the past three days in the 16950-16960 band. A move below this could result in sharp fall towards 16747 and beyond. On upmoves, a move above 17142 could lead to return of positive sentiments.” ~Deepak Jasani, Head of Retail Research, HDFC Securities

07:55 (IST) 14 Oct 2022 IT stocks to remain in focus

“IT sector would continue to remain in focus with HCL Tech announcing strong Q2 numbers, although Wipro reported disappointing results. Infosys results would give direction to the sector which has been reeling under pressure off late on expectation of weakening in global demand. For now, Nifty has been swinging around 17k levels for fourth consecutive day and is unable to get any clear direction. One needs to wait and see who wins the tug of war between global and domestic factors.”~Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

07:37 (IST) 14 Oct 2022 FII and DII data

Foreign institutional investors (FIIs) net offloaded shares worth Rs 1,636.43 crore whereas domestic institutional investors (DIIs) net bought shares worth Rs 753.29 crore on 13 October, according to the provisional data available on the NSE.

07:37 (IST) 14 Oct 2022 Stocks on F&O ban list on NSE

Delta Corp and Indiabulls Housing Finance are the two stocks on the NSE F&O ban list for 14 October. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.

07:36 (IST) 14 Oct 2022 Asian markets in green

Shares in the Asia-Pacific jumped on Friday, taking the lead from Wall Street overnight as investors shook off a strong inflation report. The Nikkei 225 was 2.37% higher in early trade, while the Topix gained 1.74%. In Australia, the S&P/ASX 200 popped 1.7%. South Korea’s Kospi advanced 1.74%. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.83% higher.

07:35 (IST) 14 Oct 2022 US Stocks end higher after CPI inflation data

US stocks surged to close more than 2% higher on Thursday after US CPI inflation data, as technical support and investors covering short bets drove a dramatic rebound from a selloff earlier in the day. The reversal marked a jump of nearly 194 points in the S&P 500 from its low of the session to its high, the biggest intraday jump for the index since January 24. The Dow Jones Industrial Average rose 827.87 points, or 2.83%, to 30,038.72, the S&P 500 gained 92.88 points, or 2.60%, to 3,669.91 and the Nasdaq Composite added 232.05 points, or 2.23%, to 10,649.15.

07:34 (IST) 14 Oct 2022 SGX Nifty signals a gap-up start for Indian equities

Nifty futures traded 250.5 points, or 1.48% higher at 17,207.50 on the Singapore Exchange, signaling that Dalal Street was headed for a gap-up start.