Share Market Highlights: Nifty ends Samvat 2078 above 17550, Sensex past 59300; Axis Bank leads gains

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity markets ended in green on a flat note on high volatility as weak global cues amid escalating crisis in Ukraine weighed on investor sentiment. BSE Sensex ended at 59,307, up 104 points or 0.18 per cent, while the broader NSE Nifty50 closed at 17,576, up 12 points or 0.07 per cent. The gains in benchmark indices were led by Axis Bank, HUL, ICICI Bank, Kotak Bank, SBI Life, and Apollo Hospitals. On the flipside, Bajaj Finserv, Bajaj Finance, Divis Labs, Adan Ports, UPL, Asian Paints, and L&T capped gains. In the broader markets, the BSE MidCap and SmallCap indices dipped 0.75 per cent and 0.6 per cent, respectively.

Sectorally, Nifty PSU Bank and Private Bank indices gained the most, up 1.8 per cent and 1.6 per cent, respectively, while the Nifty Pharma index fell 0.8 per cent. Overall, the benchmark BSE Sensex and the Nifty50 dipped 0.5 per cent in Samvat 2078, while the BSE MidCap index fell about 4 per cent. The BSE SmallCap index, meanwhile, added 0.4 per cent. As we enter Samvat 2079, analysts expect markets to remain under pressure and witness more volatility in the near-term. However, both indices are expected to scale news highs. Nifty is projected to touch 20,000 while Sensex may climb above 65000.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates October 21, Friday

15:44 (IST) 21 Oct 2022 Rupee ends higher

Indian rupee closed marginally higher at 82.68 per dollar against the previous close of 82.75.

15:34 (IST) 21 Oct 2022 Nifty, Sensex end in green on last trading day of Samvat 2078

Benchmark indices ended on positive note in the volatile session Nifty Bank index gained nearly 2 percent, while capital goods, pharma, power, metal index down 0.5-1 percent. BSE midcap and smallcap indices shed 0.5 percent each.

15:30 (IST) 21 Oct 2022 Motilal Oswal Financial Services reports one of the highest quarterly PAT of Rs 509 cr in Q2FY23

In Q2FY23, consolidated revenues grew by 13% on-year at Rs 1,098 crore. Profit after tax for the quarter was Rs 509 crore, up 11% on-year (excl. PE profit share). Capital market business PAT grew by 9% on-year to Rs 132 crore. Asset & Wealth businesses PAT stood at Rs 67 crore, up 2% on-year.

15:07 (IST) 21 Oct 2022 Nifty, Sensex flat amid high volatility

Benchmark indices erased all the intraday gains and traded flat amid volatility. The Sensex was up 0.55 points at 59203.45, and the Nifty was down 18.50 points or 0.11% at 17545.50.

14:43 (IST) 21 Oct 2022 India to be among the top 3 economies in Samvat 2079

– Investors should add some surpluses into interest-bearing instruments in addition to risk assets

– Have a more diversified portfolio

– India to be among the top 3 economies of the world

– Exciting times ahead, but be braced for volatility

-Uday Kotak

14:27 (IST) 21 Oct 2022 Karur Vysya Bank Q2 net profit jumps 51%

Karur Vysya Bank has reported 51 per cent jump in its Q2 net profit at Rs 250.2 crore versus Rs 165.4 crore and net interest income up 20.7% at Rs 821.5 crore versus Rs 680.4 crore on-year. Karur Vysya Bank was quoting at Rs 92.55, up Rs 0.40, or 0.43 per cent on the BSE.

13:10 (IST) 21 Oct 2022 Nifty, Sensex trading firm in noon deals

The Sensex is up 360.75 points or 0.61% at 59563.65, and the Nifty up 89.30 points or 0.51% at 17653.30.

12:41 (IST) 21 Oct 2022 CSB Bank Q2 net profit at Rs 120 crore

CSB Bank has posted net profit of Rs 120.5 crore in the quarter ended September 2022 against Rs 118.6 crore and net interest income (NII) up 16.7% at Rs 325 crore versus Rs 278.4 crore on-year. CSB Bank was quoting at Rs 247.55, down Rs 2.70, or 1.08% on the BSE.

12:40 (IST) 21 Oct 2022 BDL shares jump 3%

Bharat Dynamics gained 3% after it entered into several MoUs during Defexpo

12:39 (IST) 21 Oct 2022 Reliance Industries shares rise ahead of Q2 earnings today

Oil refining to retail and telecom conglomerate Reliance Industries Ltd is expected to report double-digit growth in consolidated net profit and revenue for the quarter ended 30 September. The company is likely to report a 12-14% percent on-year increase in consolidated net profit to Rs 15,263 crore in the September quarter, according to the average of estimates by six securities firms. Profit will be driven by strong consolidated revenue, which is expected to rise 34 per cent on-year to Rs 2.25 lakh crore in the quarter. Reliance Industries was quoting at Rs 2,509.10, up Rs 8.20, or 0.33 per cent on the BSE.

11:59 (IST) 21 Oct 2022 Bank Nifty up 1%

Nifty Bank index rose over 600 pts or 1 per cent, supported by the Axis Bank, Federal Bank, Bank of Baroda

11:21 (IST) 21 Oct 2022 Rupee falls

The rupee depreciated 12 paise to 82.91 against the US dollar in morning trade on Friday tracking a firm American currency in the overseas market.

11:21 (IST) 21 Oct 2022 United Breweries Q2 net rises 67%, revenue up 11.5%

Beer maker United Breweries Ltd has reported a 66.94 per cent growth in its consolidated net profit at Rs 134.12 crore in the second quarter ended September 30, mainly on the back of volume growth.

11:20 (IST) 21 Oct 2022 PSU bank stocks gain

Nifty PSU Bank index rose 2.7 percent, led by the Indian Bank, Punjab and Sind Bank, UCO Bank. In the past one week, Nifty PSU Bank index has rallied 12 per cent as compared to 3 per cent rise in Nifty50.

11:19 (IST) 21 Oct 2022 Nifty, Sensex holding in green

Sensex is up 270.77 points or 0.46% at 59473.67, and the Nifty added 69.50 points or 0.40% at 17633.50.

10:00 (IST) 21 Oct 2022 ITC shares at fresh high after strong Q2

ITC shares hit a new high on solid Q2 performance. Analysts see up to 16% upside going forward as they believe that ITC would continue to grow in its core business of Cigarettes and FMCG with stable taxation & softening of raw material prices.

09:58 (IST) 21 Oct 2022 IT stocks drag

Nifty Information Technology index fell 0.5 percent, dragged by the Mphasis, Tech Mahindra, Persistent Systems

09:36 (IST) 21 Oct 2022 Axis Bank shares surge 6%

Shares of Axis Bank surged over 6 per cent after the lender posted 70% on-year rise in standalone net profit to Rs 5,329.7 crore in Q2FY23.

09:35 (IST) 21 Oct 2022 PSU bank index has potential to sustain its outperformance

“IT and banks account for the major chunk of India Inc’s profits. After good Q2 results from IT, leading banks are posting very good Q2 numbers indicating that corporate earnings are in line with optimistic expectations. Q2 results of Axis Bank and ITC have beaten expectations. The PSU bank index has the potential to sustain its outperformance.”

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

09:34 (IST) 21 Oct 2022 Samvat 2079 to be the year of India’s outperformance

“Samvat 2079 will go down in India’s stock market history as the year of India’s outperformance relative to developed markets and peers. The big question as we usher in Samvat 2079 is whether this outperformance will continue. Even though India’s valuations are high from the short term perspective, economic and earnings fundamentals partly justify the valuation premium. More importantly, the DII/retail support to the market is becoming strong enough to eclipse the FII selling. This explains the logic of FIIs turning buyers (Rs 1864crores yesterday) when US bond yields are moving up and the 10-year yield is at 4.23 percent.”

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

09:20 (IST) 21 Oct 2022 Nifty top gainers, losers

Axis Bank, M&M, Titan Company, SBI Life Insurance and HDFC Life were among major gainers on the Nifty, while Bajaj Finance, TCS, Tech Mahindra, Power Grid Corp and Divis Labs were the laggards.

09:19 (IST) 21 Oct 2022 Sensex near 49500; Nifty above 17600

The Sensex was up 236.51 points or 0.40% at 59,439.41, and the Nifty was up 59.50 points or 0.34% at 17,623.50.

09:19 (IST) 21 Oct 2022 Nifty, Sensex open higher

Benchmark indices opened higher despite mixed global cues. BSE Sensex jumped 200 pts, while NSE Nifty 50 reclaimed 17600.

09:15 (IST) 21 Oct 2022 Nifty Futures and Bank Nifty Futures key levels

Nifty Futures – Resistances 17600-17700; Supports 17430-17325

Banknifty Futures – Resistances 40650-41000; Supports 39900-39600

-Globe Capital

09:14 (IST) 21 Oct 2022 Derivatives Overview & Outlook

“Yesterday, no significant activity was seen in Nifty & Banknifty futures on price front whereas on open interest front both Nifty and Banknifty futures added around 10% & 5% of open interest respectively. On sectoral front, long buildup was seen among Telecom, Textile and Chemical stocks whereas some short buildup was seen among Banking stocks. On options front, Nifty will start the last weekly expiry of Oct series with maximum positions at 18000 CE and 17000 PE.”

-Globe Capital

09:11 (IST) 21 Oct 2022 Bank Nifty can revisit 40,600 and 41,000 levels

“Bank Nifty slipped lower but found support from its line of parity at 39,800-40,000 zone. From here on, till 39,600-39,400 near 50 DMA’s; multiple supports are visible on the daily chart of index. With this support, bank nifty can revisit the levels of 40,600 and 41,000 levels where it could face resistance in the coming days.”

-Yes Securities

09:09 (IST) 21 Oct 2022 Nifty trend likely to remain positive

“Going ahead, the trend on Nifty may remain positive as long as the index holds above 17300 levels on a sustained basis. On the higher end, 17,800 may act as next resistance; a decisive move above 17,800 may induce a rally towards the recent high of 18000.”

-Yes Securities

09:07 (IST) 21 Oct 2022 Market pre-open: Nifty, Sensex in green

Benchmark indices are trading firm in the pre-opening session. Sensex was up 99.12 points or 0.17% at 59302.02, and the Nifty was up 31.20 points or 0.18% at 17595.20.

09:05 (IST) 21 Oct 2022 Rupee opens lower

Indian rupee opened marginally lower at 82.81 per dollar on Friday against the previous close of 82.75.

09:00 (IST) 21 Oct 2022 Nifty bulls will aim to recapture the psychological 18000 mark with an interweek perspective

“Domestic equities may wobble in early trades Friday, tracking sideways movement in SGX Nifty after US markets ended lower in the overnight trades. However, market sentiment could get a leg up after FIIs turned net buyers of local shares in yesterday’s trade. Besides, rupee strengthening below the 83 mark, better-than-expected Q2 earnings so far, and oil prices staying sluggish at $85 a barrel would help market extend gains ahead of Diwali festival. Technically, Nifty bulls will aim to recapture the psychological 18000 mark with an interweek perspective. However, the US treasury yields, which is at a 15-year high, will remain a major deterrent as it has been indicating recession spread across key global economies.”

–Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd

08:50 (IST) 21 Oct 2022 Nifty may remain in 17434-17642 band for near term

“Nifty could now remain in the 17434-17642 band for the near term with individual stocks largely reacting negatively to Q2 results outcome.”

-Deepak Jasani, Head of Retail Research, HDFC Securities

08:48 (IST) 21 Oct 2022 Stock in focus

BEML (CMP 1,635)   

“Considering strong opportunities across segments, healthy earning growth, margin expansion, we have our BUY rating on the stock with a Target Price of Rs 2,000.”

-Reliance Securities

08:48 (IST) 21 Oct 2022 Reliance Securities intraday picks

HINDALCO (PREVIOUS CLOSE: 396) BUY 

For today’s trade, long position can be initiated in the range of Rs 392- 389 for the target of Rs 409 with a strict stop loss of Rs 384. 

DABUR (PREVIOUS CLOSE: 536) BUY 

For today’s trade, long position can be initiated in the range of Rs 531- 527 for the target of Rs 554 with a strict stop loss of Rs 517. 

BAJAJ-AUTO (PREVIOUS CLOSE: 3,692) BUY 

For today’s trade, long position can be initiated in the range of Rs 3,660- 3,635 for the target of Rs 3,805 with a strict stop loss of Rs 3,580.  

– Reliance Securities

08:46 (IST) 21 Oct 2022 Markets are likely to see a gap down opening

“Inflation continues to remain sticky, both, in the domestic and the US economy despite the earnings season which started on positive note. India’s growth remains strong and expected to be one of the fastest growing economies in the world, while global recession and downgrading of growth persisted for major economies. India’s growth trajectory is supported by the improvement in capacity utilisation, revival in credit growth, strong corporate balance sheets, upbeat consumer and business confidence. The markets are likely to see a gap down opening, SGX nifty is down 36 points compared to the previous spot Nifty closing. Asian Markets are trading in red; Nikkei is down 0.2% while Heng Seng is down 0.4%.”

– Mitul Shah – Head of Research at Reliance Securities

08:44 (IST) 21 Oct 2022 F&O expiry: Nifty support at 17400, resistance at 17800; look for opportunities only in momentum stocks

The derivatives data does not hint at any negativity and hence, traders are advised to continue to trade with a positive bias and look for buying opportunities on intraday declines. The immediate support for Nifty is placed in the range of 17400-17300 and any dips towards this support range should be used to buy. On the higher side, 17700 -17800 would be the resistance end to watch out for. Also, since we have a couple of trading holidays in the coming week on account of the festival, option buyers are advised to trade cautiously and look for opportunities only in momentum stocks.

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08:28 (IST) 21 Oct 2022 Rupee likely to depreciate on strong dollar, risk aversion in markets; USDINR pair to trade in this range

“The Indian rupee is expected to open weak amid strong US dollar, elevated oil prices, and volatility in equity markets. USDINR(Spot) is expected to trade with a positive bias and quote in 82.50-83.20 range. In the previous session, rupee rebounded from its lifetime lows to close 25 paise higher at 82.75 against the US dollar amid weakness in the greenback overseas. Fag-end buying in domestic equities also bolstered investor sentiment. However, rising crude oil prices in the international market capped the rupee’s gain, according to analysts and traders. The local currency recovered on suspected RBI intervention after hitting a record low of 83.29 earlier during the session.”

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08:17 (IST) 21 Oct 2022 More upside expected in Nifty

“Nifty view bullish above 17560. Nifty took support at yesterday’s support and closed above yesterday’s resistance, which means more upside can be expected today. Cool off in US markets seems to be over too.”

Position Sizing Guide: Large

Nifty Supports: 17515 and 17421

Nifty Resistances: 17610 and 17800

-Rahul Sharma, Head – Research, JM Financial Services Ltd

08:14 (IST) 21 Oct 2022 Trade Setup

Call OI: Nifty 10% Up = Longs + High Volume

Call OI: Bank Nifty 4.9% = Longs + High Volume

Nifty Options Data: Bullish | PCR: 1.29 (up)

Bank Nifty Options: Moderately Bullish | PCR: 0.6% (down)

FII bought: Cash, SF, IO and SO

FII sold: IF

Short Covering: Adani Enterprises, Adani Ports and BPCL

Long Buildup: UPL, Tech Mahindra and HCL Technologies

Shorts: IndusInd Bank, Asian Paints and Apollo Hospitals

-Rahul Sharma, Head – Research, JM Financial Services Ltd

08:06 (IST) 21 Oct 2022 Stocks in focus today

Reliance: Mukesh Ambani’s Reliance Industries Ltd is expected to post a robust earnings growth for the July-September quarter.

Infosys: Infosys has allowed its employees to take up external gig work, after obtaining prior approval of their managers.

ITC: ITC reported a 20.79% on-year rise in its standalone net profit to Rs 4,466.06 crore for the second quarter this fiscal, aided by a 27.07% on-year growth in its gross revenue from sale.

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07:56 (IST) 21 Oct 2022 Nifty support at 17400-17450

“Markets staged a smart recovery towards the fag-end helped by strong gains in IT stocks. Despite bearishness in Asian and European indices, Indian markets maintained their winning streak as investors remain optimistic about our growth story. The world economy remains mired under several negative factors, but the local economy has managed to stay resilient despite challenges from the external front. After a gap down opening the Nifty held the crucial support level of 17400 and bounced back sharply thereafter. It has also formed a bullish candle on daily charts and closed above the 50-day SMA which is broadly positive. For Nifty bulls, 17400 -17450 could be the key support zones, above which the index could move up to 17700-17750. On the flip side, uptrend would be vulnerable below 17400,”

–Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd

07:55 (IST) 21 Oct 2022 Select midcap opportunities provide strong value opportunities

“Nifty trades with a positive bias both on monthly basis and short term parameters. Open interest concentration is seen at 18000 call and 17000 put options. Expect volatility to remain high on account of global markets as we continue to outperform on account of inherent strength. IT stocks remain strong while select midcap opportunities provide strong value opportunities.”

– Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities

07:53 (IST) 21 Oct 2022 Use any dip as buying opportunity

“On the technical front, the Nifty has been trading with the support of 21HMA & given the closing above the same suggests strength for the upside.  On the OI Data, On the call side, the highest was witnessed at 17800 while on the put side was at 17400 level. The Hourly momentum indicator STOACHSTIC was trading with a positive crossover which suggests a downside moment in the upcoming session. The support for nifty has shifted around 17350 levels while on the upside 17600 may act as an immediate hurdle. On the other hand, Bank nifty has support at 39300 levels while resistance at 40500 levels. Overall, Nifty managed to close above 17500 levels, any dips should be considered as buying opportunities.”

– Palak Kothari, Senior technical analyst, Choice Broking

07:51 (IST) 21 Oct 2022 Buy stocks from sectors that are showing relative strength

“Technically, while the Nifty has moved up further after bouncing back from supports last week, the index is trading near strong resistances and needs to clear them to move higher. Upside momentum will pick up if the Nifty can cross the immediate resistance of 17608. We recommend a stock-specific approach and recommend buying stocks from sectors that are showing relative strength.”

– Nagaraj Shetti, Technical Research Analyst, HDFC Securities

07:49 (IST) 21 Oct 2022 Nifty must convincingly cross 17608 resistance for uptrend to continue

“Zooming into 15-minute chart, we see that Nifty opened with a down gap, but buying soon emerged from the lows and pushed the index higher. The Nifty thus remains in a short term uptrend as it has moved above the previous swing highs of 17429 and made higher bottoms over the last few weeks. The Nifty is however near strong resistances which coincide with a downward sloping trend line that has held down the highs of 2021 and 2022. The index needs to convincingly cross these resistances for the uptrend to continue which could take the Nifty towards the previous intermediate highs of 18096. Crucial supports to watch for resumption of weakness are at 17421.”

– Nagaraj Shetti, Technical Research Analyst, HDFC Securities

07:46 (IST) 21 Oct 2022 Stocks under NSE F&O ban

Five stocks – BHEL, Delta Corp, Indiabulls Housing Finance, India Cements, and Zee Entertainment Enterprises are the five stocks on the NSE F&O ban list for October 21. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95 percent of the market-wide position limit.

07:46 (IST) 21 Oct 2022 Strength in market to continue in the near term

“Bulls continued to dominate the Dalal Street ahead of festive season. Nifty opened negative but value buying at lower levels helped index to recover and close with gains of 52 points at 17564. Sector-wise, PSU Banks were in flavor on back of good set of numbers followed by IT, Oil & Gas and Metals. Despite global headwinds, sentiments were positive ahead of Diwali festival and healthy earnings so far. Nifty has found support above 17400 zones for the 3rd consecutive day indicating strong base formation. We expect the strength in the market to continue in the near term. Stock specific action is would continue as companies keep announcing results.”

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

07:43 (IST) 21 Oct 2022 CALL, PUT OI data

The maximum call open interest is accumulated at the strike price of 17,600, with 1.7 lakh contracts, and the next highest at 17,700 and 17,800, with 1.1 lakh each, according to provisional exchange data. The maximum put open interest is placed at 17,000 and 17,500, with 1.3 lakh contracts each, and at 17,400, with 1.1 lakh. This indicates strong resistance in the 17,600-17,700 zone, and immediate support at 17,500.

07:42 (IST) 21 Oct 2022 FII and DII data

Foreign institutional investors (FIIs) net bought equities worth Rs 1,864.79 crore, whereas domestic institutional investors (DIIs) net offloaded shares worth Rs 886.80 crore on 20 October, according to the provisional data available on the NSE.

07:39 (IST) 21 Oct 2022 Q2 results today

Reliance Industries, Hindustan Unilever, Bajaj Finserv, HDFC Life Insurance Company, JSW Steel, SBI Life Insurance Company, Ambuja Cements, Hindustan Zinc, Amber Enterprises India, CSB Bank, DLF, Finolex Industries, IDBI Bank, IRB Infrastructure Developers, and United Spirits will report their quarterly earnings on October 21.

07:39 (IST) 21 Oct 2022 Asian markets trading mostly lower

Shares in the Asia-Pacific traded lower on Friday as investors awaited inflation data from several economies. Nikkei 225 slipped 0.24% in early trade and the Topix lost 0.33%. In Australia, the S&P/ASX 200 fell 0.68%. South Korea’s Kospi dipped 0.23%. MSCI’s broadest index of Asia-Pacific shares was 0.43% lower.