Share Market Highlights: Sensex gains 200 pts, Nifty ends below 17750 on F&O expiry; Reliance, HDFC lead gains

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian share market managed to end higher in a volatile session as investors adjusted their positions due to monthly F&O expiry. Benchmark index BSE Sensex slipped from a high of 59,960 to end at 59,757, up 213 points or 0.36%, while NSE Nifty 50 settled at 17,767, up 110 points or 0.58%, after hitting an intra-day high of 17,784. Tata Steel, Power Grid, Sun Pharma, Axis Bank, Bharti Airtel, Kotak Bank, M&M, HDFC, Dr Reddy’s Labs, and Titan were the top Sensex gainers, Bajaj twins, Asian Paints, Nestle, Tech M, and Wipro were the laggards. In the broader markets, the BSE MidCap and SmallCap indices gained 0.4% each. Sectorally, the Nifty Metal index climbed over 3%, while the Nifty IT fell 0.44%.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 27 October, Thursday

15:41 (IST) 27 Oct 2022 Nifty gainers, losers

JSW Steel, Hindalco Industries, Tata Steel, Adani Ports and Power Grid Corporation were among the top Nifty gainers, while losers included Bajaj Finance, Bajaj Finserv, Asian Paints, Bajaj Auto and Nestle India.

15:40 (IST) 27 Oct 2022 Nifty, Sensex end in green amid volatility

Benchmark indices ended on positive note in the highly volatile session. The Sensex closed 212.88 points or 0.36% higher at 59,756.84, and Nifty 50 shut shup at 17,737, up 80.70 points or 0.46%.

15:39 (IST) 27 Oct 2022 Rupee closes higher

Indian rupee closed 24 paise higher at 82.49 per dollar against previous close of 82.73.

15:21 (IST) 27 Oct 2022 Global markets

US, UK stock futures mixed ahead of ECB rate decision, US GDP data

15:13 (IST) 27 Oct 2022 Nifty, Sensex trade volatile

Benchmark indices were trading flat amid volatility ahead of monthly F&O expiry. The Sensex was up 26.72 points or 0.04% at 59570.68, and the Nifty was up 25.80 points or 0.15% at 17682.10.

14:08 (IST) 27 Oct 2022 Nifty, Sensex pare gains, still trading in green

Sensex is up 91.29 points or 0.15% at 59635. Nifty is up 37.20 points or 0.21% at 17693.

14:07 (IST) 27 Oct 2022 European markets pull back slightly

The pan-European Stoxx 600 fell 0.4%in early trade, with tech stocks shedding 1.7% to lead losses while oil and gas stocks added 2%. Investors are waiting to see the outcome of Thursday’s European Central Bank meeting, which is expected to deliver a 75 bps rate hike.

14:05 (IST) 27 Oct 2022 BEL revenue jumps 8%; Reliance Securities says buy

Bharat Electronics (BEL) delivered a decent performance in 2QFY23. Revenue increased by 8% on-year to Rs 3960 crore. “We maintain our positive stance on BEL’s long-term prospects led by the robust defence spending, strong expertise and relationship with government entities and diversification into non-defence business. We expect the company to clock a double-digit growth over the next couple of years, aided by business opportunities in both defence and non-defence segments. BEL is among the few defence PSUs that historically delivered strong financials and has a track record of efficient capital allocation. The debt-free balance sheet, efficient working capital management, adequate R&D spend, technology adoption, track record of timely execution of large projects, strong cash flow and prudent capital allocation, augurs well for the company. We have BUY rating on the stock.”-Reliance Securities

13:58 (IST) 27 Oct 2022 BEL shares just 1% after Q2 results

Bharat Electronics has posted consolidated net profit at Rs 623.7 crore versus Rs 624.4 crore and revenue was up 7.7% at Rs 3,961.6 crore versus Rs 3,678 crore, on-year. Bharat Electronics was quoting at Rs 106.45, up Rs 1.50, or 1.43% on the BSE.

13:45 (IST) 27 Oct 2022 Gainers, losers

Metal, power, oil & gas, and realty indices up 1-2%, while IT index down 0.5%.

13:43 (IST) 27 Oct 2022 Metal stocks lead gains

NSE Nifty Metal index soars 2.5%; JSW Steel, SAIL top gainers

12:59 (IST) 27 Oct 2022 Tamilnad Mercantile Bank shares rise after Q2 results

Tamilnad Mercantile Bank has posted 37.5% jump in its Q2 net profit at Rs 262.3 crore against Rs 190.7 crore and Net Interest Income was up 15.8% at Rs 508.6 crore versus Rs 439.1 crore, on-year. Tamilnad Mercantile Bank was quoting at Rs 499.70, up Rs 12.00, or 2.46%.

12:58 (IST) 27 Oct 2022 Power stocks gain

BSE Power index added 1%, led by the NHPC, Adani Green, JSW Energy

12:10 (IST) 27 Oct 2022 RBL Bank surges 9.7%

RBI Bank shares surged 9% after the lender on October 22 reported a standalone profit of Rs 201.55 crore for the September quarter of FY23, growing 6.5 times from the year-ago period on a low base. The profit in Q2FY22 was hit by higher provisions for bad loans, while the growth was almost flat sequentially. The lender’s net interest income (NII) grew 16% on-year to Rs 1,064 crore during the July-September, with net interest margin rising 49 bps on-year to 4.55%. The sequential growth in net interest income was 3.6% and NIM expanded 19 bps.

12:08 (IST) 27 Oct 2022 Zydus Life receives USFDA’s approval for fungal infection drug, shares up 0.7%

Zydus Lifesciences has received approval from the United States Food and Drug Administration (USFDA) to market Micafungin for injection in the US. Micafungin is indicated to treat variety of fungal infections. It is also used to prevent fungal infections in patients who are having a stem cell transplant. The drug will be manufactured at the group’s injectable manufacturing facility at Jarod in Gujarat. Zydus Lifesciences was quoting at Rs 420.45, up Rs 3.20, or 0.77%.

11:14 (IST) 27 Oct 2022 Indices trading firmly in green

Sensex is up 215.24 points or 0.36 percent at 59,759. Nifty is up 71.70 points or 0.41 percent at 17,728.

10:56 (IST) 27 Oct 2022 Rupee jumps as dollar tumbles

The Indian rupee strengthened on Thursday, taking heart from the dollar index’s plunge overnight on growing views that softer U.S. economic data may prompt the Federal Reserve to slow the pace of its rate hikes.

Coming off a domestic market holiday on Wednesday, the rupee climbed 0.5% to 82.3125 per dollar by 0435 GMT, outperforming its Asian counterparts, but pulling back from it own high of 82.14 in early trade.

10:30 (IST) 27 Oct 2022 Nifty Bank index up 250 pts

Nifty Bank index gained 0.5%, led by the Bandhan Bank, Kotak Mahindra Bank, Axis Bank

10:29 (IST) 27 Oct 2022 Avoid aggressive bets; identify apt themes, potential movers

“There have been contributions across the board, wherein the significant benefactors that boosted the bullish sentiments were from the PSU Banking space and the Auto sector. Looking at the recent developments, the undertone is likely to remain in favor of the bulls, and any intraday blip is expected to augur well for the bulls. Also, it is advisable to avoid aggressive bets as the market might act volatile on the expiry day. Meanwhile, we advocate keeping Identifying apt themes and potential movers within the same that are likely to provide better trading opportunities and stay abreast with global developments.”

-Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One

10:28 (IST) 27 Oct 2022 Decisive breach over 17800 could trigger a strong rally towards 18000 and beyond

“Nifty is firmly placed above all the major exponential moving averages on the daily chart and has maintained its cycle of higher highs – higher lows, construing to have a bullish setup. However, ahead of the monthly expiry, Nifty has seen some tentativeness at higher levels; but we do not construe this as any sign of worry. Traders are just opting to take some money off the table after seeing a decent up move in the last two weeks. As far as levels are concerned,17600-17560 is likely to cushion any fall on an immediate basis; whereas on the flip side, a decisive breach over the immediate resistance of 17800 (which we expect soon) could trigger a strong rally towards 18000 and beyond.

–Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One

10:25 (IST) 27 Oct 2022 Gland Pharma plunges 13%, hits 52-week low

Gland Pharma share price plunged 13% to hit 52-week low on disappointing Q2 results. The consolidated revenue from operations during the period under review stood at Rs 1,044 crore, as against Rs 1,080 crore in the year-ago period. The company said its revenue from its core markets of the US, Europe, Canada and Australia grew by 3% to Rs 747 crore in Q2FY23, as against Rs 722 crore in Q2FY22.

10:24 (IST) 27 Oct 2022 Realty stocks gain

BSE Realty Index rose 1%, supported by the Phoenix Mills, Prestige Estate, Macrotech Developers

10:24 (IST) 27 Oct 2022 Nifty, Sensex off day’s high

Benchmark indices erased some of the early gains but still trading higher with Nifty around 17750. The Sensex was up 275.02 points or 0.46% at 59818.98, and the Nifty was up 90.80 points or 0.51% at 17747.10.

09:50 (IST) 27 Oct 2022 Nifty’s range of 17,500-17,800 set to be decisively broken on the upper end

“There is a near-term under current of ‘risk-on’ in equity markets globally triggered by expectations that the central banks will start moderating their rate hikes. The cue has come from Canada where their central bank raised rates only by 50 bp against expectations of 75 bp. Markets expect the Fed to moderate rate hikes starting December. Consequently, the dollar index has fallen below 110, and the 10-year US bond yield has dipped to 4.03%. This might nudge FPIs to turn buyers imparting strength to the market. Nifty’s recent range of 17,500-17,800 looks set to be decisively broken on the upper end today.”– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services 

09:40 (IST) 27 Oct 2022 Chennai Petroleum shares plunge 10%

Chennai Petroleum Corporation recorded a 99% sequential decline in standalone profit at Rs 27.88 crore for the quarter ended September FY23, impacted by windfall tax on exports. Revenue declined nearly 17% QoQ to Rs 22,894 crore for the quarter.The Government of India on July 1 levied duties on export of petroleum products at the rates notified on fortnightly basis, which have been reduced in the refinery transfer pricing. This has resulted in lower revenue and profitability for the quarter, the company said in BSE filing.

09:37 (IST) 27 Oct 2022 IIFL Finance surges 5% as PAT rises 36% in Q2

The company reported 36% on-year rise in consolidated net profit at Rs 397 crore in Q2FY23 from Rs 292 crore, in the year-ago period. Total income, too, climbed to Rs 2,051.4 crore in Q2FY23 from Rs 1,713.3 crore in Q2FY22.

09:35 (IST) 27 Oct 2022 Bearish view intact, maintain stop loss

“Inspite of big moves in SGX Nifty, bearish view is intact as long as 17,864 holds in November Futures. Maintain SL. 17,800 Calls have witnessed addition of 80k contracts in first fifteen minutes of trade- so ideally, 17,800 spot should be tough to take out today,”

–Rahul Sharma, Head – Research, JM Financial Services

09:31 (IST) 27 Oct 2022 Zee Entertainment rises marginally

Zee Entertainment shares rose marginally on plans to sell 3 channels. Sony Pictures Network India and Zee Entertainment plan to sell three Hindi channels including Big Magic, Zee Action, and Zee Classic to address anti-competitive concerns that arise out of their proposed merger. 

09:30 (IST) 27 Oct 2022 Gland Pharma shares tank after Q2 Results

Shares of Gland Pharma tanked over 7 per cent after the company saw 20.1% decline in consolidated net profit to Rs 241.2 crore in Q2FY23.

09:29 (IST) 27 Oct 2022 Dabur shares edge higher

Dabur India share price gained over 2 per cent after the FMCG major plans to invest Rs 325.87 crore in its Indore plant in Madhya Pradesh.

09:28 (IST) 27 Oct 2022 Nifty gainers, losers

JSW Steel, Hindalco Industries, Kotak Mahindra Bank, HDFC and Tata Steel were among the major Nifty gainers, while NTPC, Infosys, ONGC, Power Grid Corporation and HDFC Life were the laggards.

09:18 (IST) 27 Oct 2022 Nifty, Sensex open in green

Indian indices opened on a positive note with Nifty around 17750 on monthly F&O expiry. The Sensex was up 388.86 points or 0.65% at 59932.82, and the Nifty was up 97.70 points or 0.55% at 17754.

09:13 (IST) 27 Oct 2022 Derivatives: Nifty may head towards 17900; Bank Nifty to test 42000

“On Tuesday, the Nifty opened higher but witnessed profit booking from higher levels and closed with a loss of 0.42%.  For the day, the SGX Nifty suggests the Nifty opening a tad below 17900 levels. If the Nifty manages to sustain above 17900, then we may see a move towards 18050 level. The Bank Nifty also witnessed profit booking and corrected more than 400 points from the day’s high. For the day, the Bank Nifty is likely to open higher in line with the Nifty. In recent days, the Bank Nifty outperformed. Going ahead, we expect the same to continue. The index is likely to test its sizeable Call base of 42000.”

-ICICI Direct

09:11 (IST) 27 Oct 2022 Markets to open higher

“Indian markets are likely to open on a positive note despite discouraging earnings reports by US tech companies on the back of investors assessing a string of earnings data amid inflation and future rate hike concerns. Domestic markets were closed on Wednesday on account of Diwali Balipratipada, On Tuesday, the markets ended lower tracking mixed global cues amid China’s growth prospects after the new political order in the country. US market ended lower on the back of losses in technology stocks amid reaction to earning news from Microsoft and Alphabet.”

-ICICI Direct

09:10 (IST) 27 Oct 2022 India to be one of the fastest growing economies in the world

“The market fear that more rate hikes by the US Fed could again harden US Treasury yields which could further weaken the rupee. The 2QFY23 earning season so far witnessed healthy revenue growth but higher inflationary pressure took toll on profitability. Inflation continues to remain sticky, both, in the domestic and the US economy. 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. The market is looking at US Fed monetary policy meeting scheduled for 2 November. Commentary on festive demand, inflation outlook, and rate hike will be keenly watched in the near term.”

-Mitul Shah – Head of Research at Reliance Securities.

09:07 (IST) 27 Oct 2022 Rupee opens higher

Indian rupee opened 61 paise higher at 82.12 per dollar on Thursday against Tuesday’s close of 82.73

09:07 (IST) 27 Oct 2022 Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 17720-17800; Supports 17580-17500

Bank Nifty Futures – Resistances 41550-42000; Supports 40800-40500

-Globe Capital

09:06 (IST) 27 Oct 2022 Nifty, Sensex trade higher in pre-open

Benchmark indices are trading marginally higher in the pre-opening session. The Sensex was up 49.59 points or 0.08% at 59593.55, and the Nifty was up 43.20 points or 0.24% at 17699.50.

09:06 (IST) 27 Oct 2022 Derivatives Overview & Outlook

On Tuesday, both Nifty and Banknifty futures remined almost unchanged on the price front whereas on open interest front Nifty shed around 2.5% of open interest and Banknifty added around 5% of open interest. Nifty and Banknifty futures have rolled 49% & 56% of open interest into next contracts so far. On options front, call writing was seen at multiple strikes and maximum positions are at 18000 CE and 17500 PE.

-Globe Capital

09:05 (IST) 27 Oct 2022 Reliance Securities Intraday Picks

BPCL (PREVIOUS CLOSE: 303) BUY 

For today’s trade, long position can be initiated in the range of Rs 300- 303 for the target of Rs.312 with a strict stop loss of Rs 297. 

M&MFIN (PREVIOUS CLOSE: 204) BUY 

For today’s trade, long position can be initiated in the range of Rs 200- 204 for the target of Rs.211 with a strict stop loss of Rs 198. 

JSWSTEEL (PREVIOUS CLOSE: 644) BUY 

For today’s trade, long position can be initiated in the range of Rs 638- 642 for the target of Rs.660 with a strict stop loss of Rs 632. 

09:04 (IST) 27 Oct 2022 Buzz in telecom stocks

“Indian markets snapped 7-day winning streak and ended lower on Tuesday as investors reassessed risks such as hawkish central bank policies. There will be some buzz in telecom stocks as Communications Minister Ashwini Vaishnaw said that the telecom companies must raise the 5G towers installation per week to at least 10,000 per week from the current 2,500 per week. On the technical front, the key resistance level for Nifty50 is 17,800  and on the downside 17,600 can act as strong support. Key resistance and support levels for Bank Nifty are 41,500 and 41,000 respectively.

-Mohit Nigam, Head – PMS, Hem Securities

09:02 (IST) 27 Oct 2022 Adopt bottom-up approach focusing on specific stocks

“A significant trend in the market now is the intra-sectoral divergence in performance, that is some stocks within a sector marching ahead while others lagging behind. For instance during the last Samvat in autos TVS Motor, M&M and Eicher did exceedingly well while Tata Motors and Hero Motors lagged. Similarly in pharma, Cipla & Sun Pharma far outperformed laggards like Lupin, IPCA and Aurobindo. In IT even though the sector was a laggard, Wipro performed poorly with a cut of near 40%. There are similar cases in other sections too. The takeaway from this intra-sectoral divergence is that investors should adopt a bottom-up approach focusing on specific stocks rather than taking a top-down sectoral call.”

–VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

08:57 (IST) 27 Oct 2022 Utkarsh Small Finance Bank gets Sebi’s nod to float IPO

Utkarsh Small Finance Bank has received capital markets regulator Sebi’s go ahead to raise Rs 500-crore through an Initial Public Offering (IPO). The Varanasi-headquartered Small Finance Bank’s (SFB) IPO is a complete fresh issue of shares and the entire proceeds will go to the lender, according to Draft Red Herring Prospectus (DRHP). The lender may consider issue of securities aggregating up to Rs 100 crore in a pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced. The SFB, which filed fresh draft papers with Sebi in August, obtained its observation letter on 21 October.

08:40 (IST) 27 Oct 2022 Nifty technical view

“Technically speaking, the daily chart of the Nifty has formed a bearish candle, indicating that some profit-taking is anticipated from higher levels. A directional upward move in the index requires a move over 17850. However, the Nifty 50 DMA, which is still close to the 17500 levels, will serve as a reliable support for the upcoming monthly expiry. Indicators like the RSI and MACD may shift from neutral to somewhat negative zones. OI Data indicates, on the call side, the highest OI witnessed at 17800 followed by 17900 strike prices while on the put side, the highest OI was placed at 17500 strike price. Broadly, the price action on the charts indicate that the market is largely to be in a broad range. A breakout of the range will give a clear cue on the next direction of move.”

– Om Mehra, Technical Associate, Choice Broking

08:38 (IST) 27 Oct 2022 Axis Securities Weekly Technical Picks

HCL Technologies has a buy at range Rs 1015 – 995. Holding period is 3 to 4 weeks.

Canara Bank has a buy at range Rs 260 – 255. Holding period is 3 to 4 weeks.

Camlin Fine Sciences has a buy at range Rs 136 – 133. Holding period is 3 to 4 weeks.

Finolex Cables has a sell at range Rs 490 – 482. Holding period is 3 to 4 weeks.

08:36 (IST) 27 Oct 2022 Gold firms as US dollar, bond yields fall

Gold prices rose on Thursday, as the US dollar and Treasury yields fell on mounting expectations of slower monetary policy tightening by the Federal Reserve later in the year. Spot gold rose 0.3% to $1,669.16 per ounce by 0116 GMT, after hitting a two-week high on Wednesday.

08:14 (IST) 27 Oct 2022 Will bulls push Nifty towards 18000 or correction on cards? 5 things to know before market opening bell

Indian share market is expected to open higher on Thursday, hinted SGX Nifty. Ahead of the session, Nifty futures were trading 86 pts or 0.5% higher at 17900 on the Singapore Exchange, signalling a positive start for domestic equities. In the previous session, market closed half a percent lower the previous day, snapping a seven-day winning streak in the run-up to monthly futures and options (F&O) contracts expiry on 27 October. The Sensex closed 288 points lower at 59,544, while the Nifty declined 75 points to 17,656. While analysts expect some consolidation in markets ahead, the tone is expected to remain positive.

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08:13 (IST) 27 Oct 2022 Oil prices continue climb on strong crude demand

Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar. Brent crude futures rose 25 cents, or 0.3%, to $95.94 a barrel by 0015 GMT. U.S. West Texas Intermediate (WTI) crude rose 19 cents, or 0.2%, to $88.10.

08:12 (IST) 27 Oct 2022 Stocks in focus today

Dabur India: The FMCG major on Wednesday said it will acquire a 51% stake in Badshah Masala Pvt Ltd, the owners of the Badshah Masala brand.

Zee: The proposed merger between Zee Entertainment Enterprises (ZEEL) and Sony Pictures Networks India (SPNI) is inching to a closure, with the firms agreeing to sell three Hindi channels to mitigate regulatory concerns

Crompton Greaves Consumer Electricals: The company on Wednesday reported a 17.69% decline in its consolidated net profit to Rs 130.71 crore for Q2FY23.

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08:05 (IST) 27 Oct 2022 Nifty key support, resistance levels

“Nifty fell on the 8th day of the upmove filling the upgap made on the previous session. As expected, Nifty is undergoing a small pullback after the recent rise. 17778-17811 could be the resistance for the Nifty in the near term while 17568-17584 band could provide support.”

– Deepak Jasani, Head of Retail Research, HDFC Securities