KEY HIGHLIGHTS
Economic Data Releases And Events For Nov 4
Europe: Euro group meeting
US: Factory orders — 8:30 p.m.
US Futures Trade With Little Gains
At 3: 29 p.m., Futures contract of Dow Jones was 0.02% higher at 42,221.00, that of S&P 500 rose 0.1% to 5,765.25, and Nasdaq 100 was also up 0.1% at 20,166.50.
Nifty, Sensex Record Worst Session In Over A Month; RIL Falls 4%: Market Wrap
The NSE Nifty 50 and BSE Sensex ended the lowest level in over months on Monday as Reliance Industries Ltd. and HDFC Bank Ltd. share prices dragged. The benchmark indices also recorded their worst session in a month in terms of intraday decline.
The Nifty 50 settled 309.00 points or 1.27% down at 23,995.35, and the Sensex ended 941.88 points or 1.18% down at 78,782.24.
Intraday, the Nifty 50 fell as much as 2.01% to 23,816.15, and the Sensex declined 1.87% to 78,232.
The Sensex fell below 79,000 mark for the first time since Aug 14, and the Nifty declined below 24,000 for the first time since Aug 6.
The NSE India Volatility Index jumped 10.67% to 17.60, the highest level since Aug 7. The index pared gains to end 4.94% higher at 16.69.
The top dragger, Reliance Industries fell 4% to Rs 1,285.10 apiece, the lowest in over nine months a day after its bonus shares started trading on the exchanges.
The Sensex ended 1.18% down at 7,872.24.
The Sensex ended 1.18% down at 7,872.24.
The Nifty 50 ended 1.29% down at 23,990.35.
The Nifty 50 ended 1.29% down at 23,990.35.
"With a bearish open marubozu candlestick pattern, bears showed their presence and the overall technical structure is weak with a series of lower highs and lower lows. Today's low will be considered as a critical support point and in the case of a breakdown, there is a high probability of testing 200DMA support which is at 23,460 while on the flip side, the zone of 24,100-24,180 will serve as a strong hurdle," said Aditya Gaggar, director, Progressive Shares.
The Nifty Bank ended 0.86% down at 51,231.00.
The Nifty Bank ended 0.86% down at 51,231.00.
Reliance Industries Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Axis Bank Ltd., and Bharti Airtel Ltd. weighed on the index.
Mahindra & Mahindra Ltd., State Bank of India, Infosys Ltd., Tech Mahindra Ltd., and Cipla Ltd. limited losses to the index.
Top contribution to the NSE Nifty 50 index.
Top contribution to the NSE Nifty 50 index.
On NSE, all 12 sectors ended lower with the NSE Nifty Realty decline the most.
Sectoral indices ended lower on NSE Monday.
Sectoral indices ended lower on NSE Monday.
Broader indices also fell. BSE Midcap closed 1.3% lower and BSE Smallcap lost 1.7%.
All 21 sectoral indices on the BSE fell with BSE Realty losing the most.
Market breadth was skewed in the favour of sellers. As many as 2,705 stocks fell, 1,357 rose, and 137 remained unchanged on the BSE.
Rupee Ends At Record Closing Low Against US Dollar
The rupee weakened by 3 paise to close at 84.11 against the US dollar. The currency weakened to a record low of 84.12 during the day. It closed at 84.08 on Friday, according to data on Bloomberg.
The Indian unit declined 0.05% to 84.12 a dollar.
The Indian unit declined 0.05% to 84.12 a dollar.
Market At Close
The NSE Nifty 50 and BSE Sensex recorded their worst session in a month.
The benchmark indices ended at their lowest levels since late June.
Reliance Industries Ltd., HDFC Bank Ltd., and ICICI Bank Ltd. were the top dragger in the Nifty 50 index.
Mahindra & Mahindra Ltd., State Bank of India, and Infosys Ltd. were top gainers in the index.
The NSE Nifty Realty was the worst performing sectoral index, while the NSE IT was the best performing sectoral index.
The NSE Nifty Oil & Gas declined to nearly five–month low. The index ended 2.48% down at 11,158.20.
The NSE Nifty Midcap 150 ended 1.21% down at 20,767.40.
The NSE Nifty Smallcap 250 ended 1.84% down at 17,609.50.
Stock Market Live Updates: SPARC Q2 Earning Highlights (Consolidated, YoY)
Net loss of Rs 107 crore vs loss of Rs 86.4 crore
Revenue fell 39.29% at Rs 12.9 crore vs Rs 21.2 crore
Ebitda loss of Rs 103 crore vs Ebitda loss of Rs 91.47 crore
Total Income rose 2% to Rs 6,900 crore vs Rs 6,762 crore
Stock Market Live: Marsons To Set Up Unit In UK
Marsons Ltd. is likely to set up subsidiary company in the UK for purposes of expanding presence in European market, the company said in an exchange filing.
Stock Market Live: Solar Industries Gets Export Order Worth Rs 399 Crore
Solar Industries (India) Ltd. received export orders worth Rs 399 crore for supply of defence products, it said in an exchange filing
VST Tillers Q2 Earnings Highlights (Consolidated, YoY)
Revenue up 1.8% at Rs 283 crore versus Rs 278 crore.
Ebitda down 12.4% at Rs 37.8 crore versus Rs 43.1 crore.
Margin at 13.3% versus 15.5%
Net profit up 22.7% at Rs 44.8 crore versus Rs 36.5 crore.
Europe FX Update: Euro & Pound Sterling Rises Against US Dollar
The Euro and Pound sterling rose against the US dollar on Monday as the dollar index fell to a two–week low. The index fell after data showed that the US added new jobs at the slowest pace since 2020, which affirmed expectation of a 25–basis point rate cut by the US Federal Reserve later this week.
The dollar index, which measures the strength of the greenback against six major currencies, fell 0.63% to 103.63, the lowest level since Oct 21. It was trading 0.15% down at 103.76 as of 2:18 pm.
The Euro and pound sterling were trading 0.54% and 0.32% down, respectively as of 2:13 p.m., according to Bloomberg data.
European Markets Struggle For Direction Before US Election
European share indices struggled to get direction on Monday as investors prepare for the event–heavy week. The US election is scheduled for Tuesday, and the US Federal Reserve's policy meet outcome is due to be published on Thursday.
European markets opened mixed on Monday.
European markets opened mixed on Monday.
Tube Investment Q2 Earnings Highlights (Consolidated, YoY)
Net Profit fell 13.6% to Rs 299 crore vs Rs 346 crore
Revenue rose 14.4% to Rs 4,925 crore vs Rs 4,306 crore
Ebitda fell 12.8% to Rs 490 crore vs Rs 563 crore
Margin at 10% Vs 13.1%
Stock Market Today: Exide Industries Q2 Earning Highlights (Consolidated, YoY)
Revenue up 1.8% at Rs 4,450 crore versus Rs 4,372 crore.
Ebitda down 5.5% at Rs 472 crore versus Rs 499 crore.
Margin at 10.6% versus 11.4%.
Net Profit down 13.7% at Rs 233 crore versus Rs 270 crore.
Stock Market Live: Gateway Distripaks Launches Double Stack Rail Services
Gateway Distripaks launched double stack rail services at ICD Faridabad, the company said in an exchange filing.
Stock Market Live Updates Today: M&M Share Price Rises After Kotak Institutional Equities Upgrade Stock Rating
Kotak Institutional Equities has upgraded its rating for Mahindra & Mahindra from 'add' to 'buy', citing a favourable risk-reward profile following a recent correction in the stock price.
The share price rose as much as 5.47% during the day to Rs 2971.75 apiece on the NSE.
Mahindra & Mahindra Ltd. share price was trading 0.64% higher at Rs 2,844 apiece.
Mahindra & Mahindra Ltd. share price was trading 0.64% higher at Rs 2,844 apiece.
Hatsun Agro Product Q2 Earnings Key Highlights (Consolidated, YoY)
Net profit up 17.1% at Rs 64.3 crore versus Rs 77.6 crore.
Revenue up 8.8% at Rs 2,072 crore versus Rs 1,905 crore.
Ebitda up 10.3% at Rs 241 crore versus Rs 219 crore.
Margin At 11.6% versus 11.5%.
For latest updates on second quarter earning click here.
Stock Market Live: India VIX Jumps To Highest Level Since Aug 7
The NSE India Volatility Index jumped 10.67% to 17.60, the highest level since Aug 7. It pared gains to trade 7.92% higher at 17.16 as of 12:48 p.m.
The Nifty Volatility Index was trading 7.89% higher at 17.16.
The Nifty Volatility Index was trading 7.89% higher at 17.16.
Stock Market Live: Bharat Global Developers Gets Order Worth Rs 300 Crore
Bharat Global Developers received significant order worth Rs 300 crore from Mccain India Agrotech, it said in an exchange filing.
Stock Market Live Updates: Afcons Infrastructure Lists At Rs 426 On NSE
Afcons Infrastructure Ltd. was listed at Rs 426 apiece on National Stock Exchanges Ltd compared to Rs 463 issue price. It's a discount of 8%.
The company listed at Rs 430.05 on BSE compared to issue price of Rs 463. It indicated 7.1% discount.
Stock Market Live: Bajaj Auto Share Price Slumps On Lackluster Wholesales In October
Bajaj Auto Ltd.'s share price fell during morning trade on Monday as its domestic sales declined, while total sales showed modest growth on account of an increase in exports in its October wholesale numbers.
Bajaj Auto share declined 3.85% to Rs 9,896.50 apiece.
Bajaj Auto share declined 3.85% to Rs 9,896.50 apiece.
Rupee Weakens To Fresh Record Low Against US Dollar
The India upee weakened by 3 paise to a record low of 84.11 against the US dollar. The local unit hits record low for the second session in a row, according to data on Bloomberg. It closed at 84.08 on Friday.
Stock Market Live: Maruti Suzuki India Opens Pre–Bookings
Maruti Suzuki India Ltd. opened pre–bookings for 4th Generation Dzire, it said in an exchange filing.
Stock Market Live: RIL Share Price Falls To Over Nine–Month Low
Reliance Industries Ltd. share price fell to the lowest level since Jan 8 in Monday's session. It was trading 3.95% down at Rs 1,286 apiece as of 11:18 a.m.
Reliance Industries Ltd. share price fell 3.84% to Rs 1,286.95 apiece.
Reliance Industries Ltd. share price fell 3.84% to Rs 1,286.95 apiece.
Stock Market Live: Vedanta's Cairn Signs MoU With UNEP
Vedanta Ltd. signed a memorandum of understanding with United Nation Environment Programme's flagship methane reporting and mitigation initiative.
Cairn Oil & Gas is part of Vedanta Group. UNEP Stands For United Nations Environment Programme, it said in an exchange filing.
Stock Market Live: Bajaj Auto Seen Smashing Success In October, Says ED
Outcome in October has been smashing success. Bajaj Auto has seen surge in retails in October, said Rakesh Sharma, executive director in an interview to NDTV Proft.
Bajaj Auto's focus area is 125cc segment. The company have grown 20% in retail terms in 125-cc segment. Bajaj Auto have sold 2 lakh pulsars, said Sharma.
Steel Strips Wheel October Business Update (YoY)
October overall volume growth fell 6%
October overall exports fell 41%
Stock Market Live Updates Today: NCC Stock Snaps Two–Day Rally
NCC Ltd. share price retreated from over one-month high, snapping a two-day rally on Monday. The stock had rallied in the last two trading sessions after it disclosed its order wins for October on Friday.
Stock Market Live Updates: Nifty, Sensex Fall To Nearly Three–Month Low
The NSE Nifty 50 and BSE Sensex declined over 1% and touched the lowest level since Aug 6 in Monday's session. The Nifty 50 index has declined below 24,000, and the Sensex fell below 79,000.
The market cap of Nifty 50 company declined Rs 29,583.2 crore to Rs 191.10 lakh crore as of 10:23 a.m.
The Nifty 50 was trading 1.33% down at 23,980.55.
The Nifty 50 was trading 1.33% down at 23,980.55.
The Sensex was 1.27% down at 78,708.72.
The Sensex was 1.27% down at 78,708.72.
Stock Market Live: Sun Pharma Sees Worst Session In Nearly Four Years
Shares of pharma major Sun Pharmaceuticals Industries Ltd. plunged over 5% on Monday—the worst since December 2020— after a US District Court prevented it from launching its new drug, Leqselvi.
Sun Pharmaceutical Industries declined 2.99% to Rs 1,804.45 apiece.
Sun Pharmaceutical Industries declined 2.99% to Rs 1,804.45 apiece.
Nifty Oil & Gas Falls To Nearly Five–Month Low As RIL & IOC Share Prices Drag
The NSE Nifty Oil & Gas index declined 2.07% to 11,205.90, the lowest level since June 5. Reliance Industries Ltd., and Indian Oil Corp share prices dragged the index.
The Nifty Oil & Gas index was trading 1.8% down at 11,235.65 as of 09:40 a.m.
Nifty, Sensex Decline At Open As Sun Pharma, Infosys Share Prices Drag: Opening Bell
The NSE Nifty 50 and BSE Sensex declined shortly after opening on a muted note as Sun Pharmaceutical Industries Ltd., and Infosys Ltd. share prices dragged. As of 09:17 a.m., the Nifty 50 was trading 155.90 points or 0.64% down at 24,148.45, and the Sensex was trading 0.64% down at 79.218.50.
"The range breakout of 24,200-24,500 levels will give an either side breakout from current levels and we expect an upward move post the expiry rollover and positive global cues," said Vikas Jain, head, Reliance Securities.
The relative strength index is crossing the average line and crossover of the same would witness a strong breakout along with the underlying index. The highest call open interest is at 24,500 strikes while the downside the highest put OI is at 24,000 for the weekly expiry, Jain added.
The Sensex was trading 0.68% down at 79,184.97.
The Sensex was trading 0.68% down at 79,184.97.
The Nifty 50 was trading 0.58% down at 24,163.85.
The Nifty 50 was trading 0.58% down at 24,163.85.
The Nifty Bank was trading 0.41% down at 51,462.65
The Nifty Bank was trading 0.41% down at 51,462.65
Infosys Ltd., Sun Pharmaceutical Industries Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., and HDFC Bank Ltd. weighed on the index.
Mahindra & Mahindra Ltd., HLCTech Ltd., Tech Mahindra Ltd., Cipla Ltd., and Eicher Motors Ltd. limited losses in the benchmark index.
Top contribution to the Nifty 50 index
Top contribution to the Nifty 50 index
On NSE, 12 sectoral indices opened lower with the NSE Nifty Oil and Gas declined the most. The NSE Nifty Realty had the least decline around open
Sectoral indices opened lower on Nov 4.
Sectoral indices opened lower on Nov 4.
Broader markets declined in line with the benchmark indices. The BSE Midcap and Smallcap indices were trading 0.80% and 1.25% down, respectively.
On BSE, 21 sectoral indices were trading in the negative territory around opening trade. The BSE Consumer Durables declined the most, and the BSE Focus IT declined the least.
Market breadth was skewed in favour of sellers. Around 2,090 stocks declined, 1,092 stocks advanced, and 161 stocks remained unchanged on BSE.
Stock Market Live: 10 Funds Across Categories Opening This Week
This week, there are 10 funds which are opening across categories. Six out of 10 are being launched under the passive scheme category. To know more click here.
Stock Market Live: Nifty, Sensex Trade Flat At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.05% higher at 24,315.75, and the BSE Sensex was trading 0.01% down at 79,713.14.
Watch India Market Open At NDTV Profit
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.86%. It closed at 6.85% on Friday, according to data Bloomberg.
Rupee Strengthens Against US Dollar
Rupee strengthened by 2 paise to open at 84.06 against the US dollar. It closed at 84.08 on Friday, according to data Bloomberg.
Stock Market Live: Adani Ports & SEZ October Business Update
October Total Cargo Volumes At 37.9 MMT
Year to date October 2024 logistics rail volume rose 11% on the year
Year to date October 2024 total cargo handling increased 8% on the year to 257.7 MMT
Source: Exchange Filing
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Emkay Global On Possible US Election Outcome Impact on India Equities
Republican Sweep
Red sweep may trigger a short-term rally for Indian equities
Sustenance of short term rally to depend on valuations, earnings momentum
Expect rally to quickly fizzle out
Base thesis of market consolidation for H2FY25 stays unchanged
Possible sectoral beneficiary: IT, BFSI
Democrat Sweep
Democrat's sweep could trigger nervousness in global equities, leaving India somewhat vulnerable
Suggest to by into any major dip as core fundamentals are likely to be unchanged
IT could be vulnerable in the short term on high valuations, corporate tax hike concerns
Asia FX Update: Asian Currencies Rise As Dollar Index Falls Before US Election
Most Asian currencies advanced on Monday against the greenback as the dollar index declined on caution before the US election. Moreover, weak job growth in the US during October fuelled bets for further monetary easing, which weighed on the US dollar.
The Singaporean Dollar and Thai Baht rose the most against the US dollar. The currencies were trading 0.61% and 0.52% higher, respectively as of 8:33 a.m. IST.
Bucking the trend, the Indonesian rupiah declined against the greenback. It was 0.22% lower against the US dollar as of 08:33 a.m. IST.
The dollar index, which measures the strength of six major currencies, was 0.53% down at 103.74 as of 08:30 a.m. IST, according to data on Bloomberg terminal.
The greenback lost strength after a poll by Des Moines Register showed Kamala Harris leading in Iowa state, which was won by Donald Trump in his previous elections, Bloomberg reported. Investors considers Trump win to be a propeller for rally in the dollar index and US Treasury yields.
Yield On 10–Year US Treasury Note Hits Nearly Four–Month High
The yield on the benchmark 10–year US treasury note rose to the highest level in nearly four months. The yield rose after data showed US economy added 12,000 jobs in October, due to storms and strike, Bloomberg reported.
The pace of job growth was the slowest since 2020, which affirmed expectation that the US Federal Reserve will cut interest rates by 25 basis points.
The uncertainty surrounding the outcome of the US election also weighed on safe haven asset.
The yield on the 10–year US treasury note was trading 0.02% higher at 4.40% as of 5:07 a.m. IST.
Stock Market Live: Gold Prices Steady
Gold spot and future prices were largely steady in Asian trade as market participants exercised caution before the outcome of the US election and the Federal Reserve Policy meeting this week.
A rise in US treasury yield weighed on the bullion. The Bloomberg spot Gold was trading 0.07% higher at $2,738.51 an ounce as of 08:08 a.m. IST, according to data on Bloomberg
The December future contract of Gold was trading 0.05% down at $2,747.10 an ounce as of 08:00 a.m. IST, according to data on Bloomberg
Stock Market Live Updates Today: Welspun Corp Gets Orders Worth Rs 1,300 Crore In US
Welspun Corp Ltd. received two large orders cumulatively valued at Rs 1,300 crore in US. The two large orders for supply of coated HSAW pipes for natural gas pipeline projects, the company said in an exchange filing
Welspun Corp will execute these orders during financial year 2026.
Stock Market Live: Nomura Upgrades Cipla's Rating To 'Buy'
It raised the target price to Rs 1,800, which implied a 16% potential upside.
Goa facility cleared by FDA as VAI, boosting potential approval for limited-competition gAbraxane.
Focus on inhalers, injectables/peptides, and ARVs in the US, with expected growth in FY25-27
Higher valuation aligned with sector trends and regulatory progress.
Cipla’s stock up 29% over the past year but has lagged behind Nifty Pharma's 54% rise.
Risk-Reward View Favors Cipla with expected returns of 6-21% in one year.
Key Risks: Lower-than-expected growth in India, weaker US revenue, and higher pricing pressure.
Citi Research In HPCL
Citi maintains BUY on HPCL, raises target to Rs 450 from Rs 420 earlier, which implied an 18% upside
Revise petrol/diesel marketing margin assumptions upwards
Lower gross refining margin forecasts on recent trends, mgmt commentary
Change FY26/27 EBITDA forecasts by -2%/+9%
Citi Research Keeps 'Buy' On IOCL
Citi Research maintained 'Buy' on Indian Oil Corp at Rs 190 target which implied a 30.6% upside.
Revise petrol/diesel marketing margin assumptions upwards
Lower gross refining margin forecasts on recent trends, management commentary
Change FY26/27 EBITDA forecasts by -3%/+1%
Crude Oil Prices Rise As OPEC+ Decides To Delay Production Increase By A Month
Crude oil prices rose nearly 2% in Asian trade as the Organization of Petroleum Exporting Countries and allies decided to delay December production increase by a month, Bloomberg reported.
The January future contract of brent crude was trading 1.44% higher at $74.15 a barrel as of 7:07 a.m.
Asia Market Update: Stocks Rise Ahead Of US Election & Fed Meet Outcome
Markets in Asia–Pacific region rose on Monday before US election and the Federal Reserve's policy decision this week. Market participants will also monitor China's parliament session to get more details on the stimulus announced earlier.
The KOSPI and S&P ASX 200 were trading 1.05% and 0.32% higher, respectively. Markets in Japan are closed for a holiday on Monday.
US Markets End Higher Ahead Of Election
On Friday, stocks on Wall Street ended higher as market participants shift their focus on US election this week. They shrugged off the US jobs data which showed job openings increased at the slowest pace since 2020 and unemployment remained low.
The Dow Jones Industrial Average ended 0.69% higher and the S&P 500 settled 0.41% higher. The Nasdaq Composite ended 0.80% higher on Friday.
GIFT Nifty Near 24,300; HeroMoto Corp, Sun Pharma, Zomato Share Prices May React
The GIFT Nifty was trading near 24,300 level in early trade on Monday. Hero MotoCorp Ltd., Sun Pharmaceutical Industries Ltd., and Zomato Ltd. share prices are likely to see movement when market opens.
The GIFT Nifty was trading 0.46% or 112 points lower at 24,281 as of 6:30 a.m.
The NSE Nifty 50 and BSE Sensex rebounded from two–day decline in an annual special trading session for the occasion of Samvat 2081. The Nifty 50 ended 0.39% or 94.20 points higher at 24,299.55, and the Sensex ended 0.42% or 335.06 points higher at 79,724.12.
On Thursday, benchmark equity indices of India recorded a second session of fall. However, on a weekly basis, the indices snapped a four-week decline.
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