KEY HIGHLIGHTS
Economic Data Releases And Events For Nov 11
US: Banks Closed For Veterans Day
UK: Conference Board Leading Index — 8:00 p.m.
US Market Update: Futures Rises At Pre–Open
As of 3:37 p.m., the Dow Jones Industrial Average future rose 0.29% to 44,269.00, and the S&P 500 future rose 0.28% to 6,042.25. The Nasdaq 100 future rose 0.29% to 21,293.50.
Nifty, Sensex End Little Changed As Fall In Asian Paints, RIL Weigh On Rise In HDFC & ICICI Bank: Market Wrap
The NSE Nifty 50 and BSE Sensex ended the choppy session little changed on Monday. Asian Paints Ltd., and Reliance Industries Ltd. share prices dragged the indices, while HDFC Bank Ltd., and ICICI Bank Ltd. supported the benchmarks.
The Nifty 50 ended 6.90 points or 0.03% lower at 24,141.30, and the Sensex ended 9.83 points or 0.01% higher at 79,496.15.
During the session, the Nifty 50 rose 0.78% to 24,336.80, and the Sensex rose 0.77% to 79,001.34.
Asian Paints hit the lowest level since May 3, 2021 in Monday's session as analysts flagged concerns regarding its growth going forward after it earning estimates on all front during July–September
The Sensex was ended flat at 79,496.15.
The Sensex was ended flat at 79,496.15.
The Nifty 50 ended 0.03% down at 24,141.30.
The Nifty 50 ended 0.03% down at 24,141.30.
Indian equities commenced the week on a tepid note and weakness in the Mid/Smallcap segments put further pressure on the Index to trade lower; however, IT and Banking counters came to the rescue and helped the Index to recover but the higher levels did not last for long and erased all its gains to end the session at 24,141.30 with a loss of 6.90 points, said Aditya Gaggar, director, Progressive Shares.
"Barring IT and Banking Indices, all the other sectors ended the trade in red where Media and Metal were the major laggards. The underperformance by the Broader markets extended as Mid and Smallcaps corrected by 0.88% & 1.20% respectively. After testing both resistance (24,250) and support (24,000) levels, the Index has formed a Spinning Top candlestick pattern which indicates indecisiveness between the bulls and bears. A convincing move on either side is necessary for a clear trend," Gaggar said.
The Nifty Bank ended 0.61% higher at 51,876.75
The Nifty Bank ended 0.61% higher at 51,876.75
Infosys Ltd., HDFC Bank Ltd., Power Grid Corp of India, Tata Consultancy Services Ltd., and ICICI Bank Ltd. added to the Nifty 50 index.
Asian Paints Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., and Britannia Industries Ltd. weighed on the Nifty 50 index.
Top contribution to the Nifty 50 index.
Top contribution to the Nifty 50 index.
On NSE, eight sectors declined, four advanced out of 12. The NSE Nifty Media declined the most, and the NSE Nifty IT rose the most.
Most sectoral indices ended lower.
Most sectoral indices ended lower.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.79% and 1.14% lower, respectively.
On BSE, 14 sectors declined, six advanced, and one remained unchanged out of 21. The BSE Healthcare declined the most, and the BSE Focused IT rose the most.
Market breadth was skewed in favour of sellers. Around 2,550 stocks declined, 1,545 stocks advanced, and 118 stocks remained unchanged on BSE.
Rupee Ends Flat Against Dollar
Rupee closed flat at 84.388 against the US dollar. It closed at 84.375 on Friday, according to data on Bloomberg.
India rupee ended 0.02% lower at 84.39 a dollar.
India rupee ended 0.02% lower at 84.39 a dollar.
Market At Close
The NSE Nifty 50 and BSE Sensex indices ended little changed. The indices struggled to reverse two–day losses in Monday's session.
Infosys Ltd., HDFC Bank Ltd., and ICICI Bank Ltd. shares weighed on the Nifty 50 index.
Asian Paints Ltd., Reliance Industries Ltd., and Mahindra & Mahindra Ltd. dragged the Nifty 50 index.
The NSE Nifty IT rose the most, and the NSE Nifty Media declined the most.
The NSE Nifty Midcap 150 ended 0.81% down at 20,749.95
The NSE Nifty Smallcap 250 ended 1.19% down at 17,423.90
Stock Market Today: Balrampur Chini Declines Over 5% After Net Profit Falls Nearly 60%
Balrampur Chini Mills Ltd. share price declined 5.11% to Rs 561.10 apiece.
Balrampur Chini Mills Q2 Highlights (Consolidated, YoY)
Revenue down 15.7% to Rs 1,297.95 crore versus Rs 1,539.47 crore (Bloomberg estimates Rs 1,288.3 crore).
Net profit down 60% to Rs 67.18 crore versus Rs 166.25 crore (Bloomberg estimates Rs 40.2 crore).
Ebitda down 70% to Rs 49.08 crore versus Rs 164.89 crore (Bloomberg estimates Rs 93.3 crore).
Margin at 3.8% versus 10.7% (Bloomberg estimates 7.20%).
Balrampur Chini Mills down 3.82% to Rs 570.60 apiece.
Balrampur Chini Mills down 3.82% to Rs 570.60 apiece.
Stock Market Live: Ramco Industries Share Price Jumps After Reporting Profit
Ramco lndustries Q2 Highlights (Consolidated, YoY)
Revenue up 11.8% to Rs 353.17 crore versus Rs 315.82 crore.
Net profit at Rs 16.88 crore versus Rs -4.15 crore.
Ebitda up 42% to Rs 41.49 crore versus Rs 29.26 crore.
Margin at 11.7% versus 9.3%.
Ramco Industries share price was 0.53% higher.
Ramco Industries share price was 0.53% higher.
Stock Market Live: Rategain Travel Tech Jumps Over 4% Post Q2 Results
RateGain Travel Technologies Q2 Highlights (Consolidated, YoY)
Revenue up 18.1% to Rs 277.26 crore versus Rs 234.72 crore.
Net profit up 74% to Rs 52.21 crore versus Rs 30.04 crore.
Ebitda up 30% to Rs 60.22 crore versus Rs 46.42 crore.
Margin at 21.7% versus 19.8%
Rategain Travel Technologies share price rose over 4%.
Rategain Travel Technologies share price rose over 4%.
Stock Market Live: Graphite India Share Jumps Post Q2 Results
Graphite India Q2 Highlights (Consolidated, YoY)
Revenue down 18.9% at Rs 643 crore versus Rs 793 crore.
Ebitda at Rs 110 crore versus a loss of Rs 30 crore.
Ebitda margin at 17.1%.
Net profit down 75.8% at Rs 194 crore versus Rs 802 crore.
Graphite India share price down 1.10% to Ts 514.00 apiece.
Graphite India share price down 1.10% to Ts 514.00 apiece.
Stock Market Today: KPI Green Energy To Consider Bonus Share Issue
KPI Green Energy Ltd. is set to consider a bonus issue of shares on Nov 14, it said in an exchange filing.
Europe Market Update: Share Indices Rise
European markets rise on Monday defying moves in Asian shares. The share indices gained despite a lack of major data releases from the region.
IPO Update: Niva Bupa Health Insurance IPO Subscribed 1.55 Times On Final Day
The IPO was subscribed 1.55 times as of 01:51 p.m. on Monday.
Qualified institutional buyers: 1.80 times.
Non-institutional investors: 0.55 times.
Retail investors: 2.29 times.
Stock Market Live: Keystone Realtors Q2 Highlights (Consolidated, YoY)
Revenue down 13.8% at Rs 533 crore versus Rs 618 crore.
Ebitda at Rs 80.5 crore versus Ebitda loss of Rs 14.7 crore.
Ebitda margin at 15%.
Net profit at Rs 65.6 crore versus Rs 4.2 crore.
Keystone Realtors share price 2.30% to Rs 745.00 apiece.
Keystone Realtors share price 2.30% to Rs 745.00 apiece.
Shipping Corp Share Price Jumps Over 14%
Shipping Corp of India share price jumped 14.73% to Rs 243.65 apiece, the highest level since Oct 17. It pared gains to trade 10.86% higher at Rs 235.10 apiece as of 1:31 p.m., as compared to 0.24% advance in the NSE Nifty 50 index.
Shipping Corp share price rose 10.18% to Rs 233.99 apiece.
Shipping Corp share price rose 10.18% to Rs 233.99 apiece.
Stock Market Live: Concord Biotech Q2 Highlights (Consolidated, YoY)
Revenue up 18% at Rs 310 crore versus Rs 262 crore.
Ebitda up 15% at Rs 136 crore versus Rs 119 crore.
Ebitda margin at 44% versus 45.3%.
Net profit up 18% at Rs 96 crore versus Rs 81 crore.
Concord Biotech Ltd. share price was 1.64% higher at Rs 1,880.35 apiece.
Concord Biotech Ltd. share price was 1.64% higher at Rs 1,880.35 apiece.
Stock Market Today: Maruti Suzuki Launches New Dzire at
Maruti Suzuki India launched new Dzire at Rs 6.79 lakh onwards.
These are introductory prices applicable till the end of 2024
The car will also be available in CNG, hybrid variants
Source: Dzire Live Event
Stock Market Live: ITI Share Price Jumps Over 12%
ITI Ltd. share price jumped 12.67% to Rs 342.80 apiece. It was trading 11.51% higher at Rs 339.27 a piece as of 12:43 p.m. The stock jumped after the company emerged as the lowest bidder for projects worth Rs 4,559 crores.
ITI share price was 11.88% to Rs 340.39 apiece.
ITI share price was 11.88% to Rs 340.39 apiece.
Zydus Wellness Jumps After Reporting Rise In Net Profit
Zydus Wellness Ltd. share price jumped from lows after it reported that it's net profit rose during July–September.
Zydus Wellness Q2 Highlights (Consolidated, YoY)
Revenue up 12% at Rs 493 crore versus Rs 440 crore.
Ebitda up 14% at Rs 20 crore versus Rs 17 crore.
Ebitda margin at 4% versus 3.9%.
Net profit rises 3.5 times to Rs 21 crore versus Rs 6 crore.
Zydus Wellness erased gains after jumping from lows.
Zydus Wellness erased gains after jumping from lows.
For faster updates on second quarter earning releases for Monday click here.
Stock Market Live Updates: Brokers Likely Eyeing Settlement Over SEBI’s TradeTron Notice
Brokers Likely eyeing Settlement Over SEBI’s TradeTron Notice, sources say. No formal settlement request yet, but inclination is strong.
Thirty days given to apply for settlement, extensions possible.
SEBI issued a notice last month to 122 brokers linked with TradeTron. Tradetron is a platform for options strategy.
Stock Market Live Updates: Axis Bank Share Price Extends Gains
Axis Bank Ltd. share price rose 1.28% to Rs 1,175.85 apiece after erasing earlier losses. It was trading 0.95% higher at Rs 1,172.95 apiece as of 11:56 a.m., as compared to 0.63% advanced in the NSE Nifty 50 index.
Axis Bank share price rose 1.17% higher at Rs 1,174.50 apiece.
Axis Bank share price rose 1.17% higher at Rs 1,174.50 apiece.
Stock Market Today: LG Electronics Appoints Axis Bank For Its $1.5 Billion India IPO
LG Electronics Inc., the Seoul–headquartered parent of LG Electronics India, has appointed private lender Axis Bank Ltd. as one of the arranger of the initial public offer of its India arm, Bloomberg reported. Bank of America, JPMorgan Chase & Co, Citigroup Inc, and Morgan Stanley are other arrangers for this $1.5 billion IPO
Stock Market Live: KP Green Engineering Appoints New Group CEO
KP Group appoints Alok Das as group chief executive officer with effect today, it said in an exchange filing.
Stock Market Live: Aarti Industries Share Price Slumps To Over Four–Year Low
Aarti Industries Ltd. share price hit a 10% lower circuit and declined to 417.00 apiece, the lowest level since Oct 27, 2020. It pared losses to trade 7.92% to Rs 436.85 apiece as of 11:28 a.m., as compared to 0.70% advance in the NSE Nifty 50 index.
Aarti Industries share price declined 7.97% to Rs 436.60 apiece.
Aarti Industries share price declined 7.97% to Rs 436.60 apiece.
Stock Market Today: Biocon Share Price Rises Over 5% As US FDA Gives 'VAI' Tag To Its Bengaluru Facility
Biocon Ltd. share price rose 5.66% to Rs 339.50 apiece, the highest level since Oct 22. The share price rose as its manufacturing facility in Bengaluru received a 'Voluntary Action Indicated' tag from the US Food and Drug Administration.
Biocon Ltd. share price rose 5.62% to Rs 339.50 apiece.
Biocon Ltd. share price rose 5.62% to Rs 339.50 apiece.
Stock Market Live: Suzlon Energy Share Price Down After CEO Resigns
Suzlon Energy Ltd.'s share price fell by 6.3% after the company announced the resignation of Ishwar Chand Mangal, chief executive officer of new business, effective Nov. 8.
Stock Market Live: Tata Motors Share Price Slumps To Over 10–Month Low
Tata Motors Ltd. share price declined 1.37% to Rs 792.00 apiece, the lowest level since Jan 24. It erased all gains to trade 1.77% higher at Rs 819.80 apiece as of 10:31 a.m., as compared to 0.31% advance in the NSE Nifty 50 index.
The stock gained as much as 25.45% in 12 months, and 5.42% on year to date basis. Total traded volume on NSE so far in the day stood at 1.21 times its 30-day average. The relative strength index was at 32.96.
Out of 36 analysts tracking the company, 21 maintain a 'buy' rating, 10 recommend a 'hold,' and five suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 22.9%
Jupiter Wagons Share Price Falls Nearly 6% As Net Profit Misses Estimates
Jupiter Wagons Ltd. share price declined 5.76% to Rs 465.50 apiece, the lowest level since Nov 8. The price declined as Jupiter Wagons reported Rs 89 crore net profit against Rs 116 crore Bloomberg reported.
Stock Market Live Updates: Asian Paints Share Prices Hits Multi–Year Low As Profit Falls Missing Estimates
Asian Paints Ltd. share price declined to the lowest level since May 3, 2021 on Monday. The stock slumped over 9% as the company reported that its consolidated net profit declined 44% on the year to Rs 694 crore in July–September, missing analysts' estimate of Rs 1,079 crore.
Asian Paints Ltd. was 8.96% down at 2,521.35 apiece.
Asian Paints Ltd. was 8.96% down at 2,521.35 apiece.
Stock Market Today: Nifty, Sensex Extend Losses As Asian Paints, RIL Share Prices Drag
The NSE Nifty 50 and BSE Sensex extended losses to a third session as Asian Paints Ltd. and Reliance Industries Ltd. share prices dragged. Losses in Asian share indices due to weaker than expected inflation in China also weighed on the Indian benchmark indices.
As of 09:24 a.m., the Nifty 50 was trading 0.34% down at 24,065.50, and the Sensex was 0.35% down at 79,205.32.
"On the downside, the 24,000 and 23,650 levels are expected to provide strong support, potentially presenting buying opportunities for long positions," said Mandar Bhojane, research analyst, Choice Broking.
If Nifty sustains above 24,500 in the coming week, we may see it gain momentum to test higher levels around 24,800 and 25,200. However, if the support levels at 24,000 and 23,650 are breached, further downside pressure could ensue, Bhojane said.
The Sensex was 0.48% down at 79,102.47.
The Sensex was 0.48% down at 79,102.47.
The Nifty 50 was 0.50% down at 24,026.55.
The Nifty 50 was 0.50% down at 24,026.55.
The Nifty Bank was 0.45% down at 51,329.35.
The Nifty Bank was 0.45% down at 51,329.35.
Reliance Industries Ltd., Asian Paints Ltd., ICICI Bank Ltd., Axis Bank Ltd., and Larsen & Toubro Ltd. weighed on the index.
HDFC Bank Ltd. Maruti Suzuki India Ltd., Power Grid Corp of India, HCLTech Ltd., and Sun Pharmaceutical Industries Ltd. added to the index.
Top contribution to the Nifty 50 index.
Top contribution to the Nifty 50 index.
On NSE, 10 sectors declined out of 12. One was flat, while one was trading with marginal gains. The NSE Nifty Oil & Gas declined the most, while the NSE Nifty Auto rose the most.
Most sectoral indices opened lower out of 12.
Most sectoral indices opened lower out of 12.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.64% and 0.92%, down respectively.
On BSE, 15 sectors advanced and six declined out of 21. The BSE Oil & Gas declined the most, while the BSE Utilities rose the most.
Market breadth was skewed in favour of sellers. Around 1,945 stocks declined, 1,195 stocks advanced, and 117 stocks remained unchanged on BSE.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.81%, according to data on Cogencis.
Stock Market Live Updates: Nifty, Sensex Lower At Pre–Open
At pre–open, the NSE Nifty 50 was 60.95 points or 0.25% down at 24,087.25, and the BSE Sensex was 187.86 points or 0.24% down at 79,298.46.
India Rupee Hits Record Low Against US Dollar At Open
Rupee opened two paise weaker at 84.40 against the US dollar. It closed at 84.38 on Friday, according to data on Bloomberg.
Ashok Leyland Doubles Revenue Of Defense In H1, CEO Says
Ashok Leyland doubled revenues of defense business in first half, said Shenu Agarwal, chief executive officer, Ashok Leyland.
The company hasn't reached peak of financial year 2019 yet. This cycle is expected to be longish, Agarwal said. The company is positioned in the second place in light commercial vehicle.
Zomato Share Price May React As Co Responds To Antitrust Law Violation
Zomato Ltd. share price may react in Monday's trading session as the company responded to antitrust law violation probe from the Competition Commission of India. The food–delivery service said that there's no breach in law in their business practice. Read more.
Asia FX Update: Most Currencies Fall As Dollar Index Remains Firm Around 105 Mark
Most currencies of Asian countries were trading lower against the greenback as the dollar index remained firm around 105 mark it hit after Donald Trump's victory in the US election, last week.
The dollar index was trading 0.03% higher at 105.02 as of 8:13 a.m.
The Japanese yen was 0.47% down against the US dollar at 153.36 ad of 8:20 a.m. The Philippine peso was down 0.44%.
Bucking the trend the offshore Chinese yuan was trading 0.02% higher against the US unit at 7.1833 a dollar as of 8:20 a.m. IST.
Gold Prices Continue To Decline
Bullion continued to decline tracking relatively strong dollar index and US Treasury yields. The December future contract of the Gold was trading 0.53% down at $2,680.40 an ounce as of 7:57 a.m.
Power Grid Q2 Analyst Meet Takeaways
Maintains FY25 capex guidance at Rs 18,000 crore
FY26 Capex & commissioning at Rs 25,000-30,000 crore vs Rs 25,000 crore earlier
FY27 Capex & commissioning at Rs 40,000 crore vs Rs 30,000 crore earlier
Current work in hand at Rs 1.43 lakh crore, to commission Rs 1 lakh crore in next 2-2.5 years
Revises FY25-32 capex guidance to Rs 3.35 lakh crore vs Rs 2.07 lakh crore earlier
The company accounts for 50% of market share in upcoming bidding guidance
Stock Market Live: Bitcoin Surpasses $81,000 Mark For First Time
The bitcoin surpassed $81,000 mark for first time in early Asian trade hours as prospects of pro–crypto US Congress increases after Donald Trump's victory, Bloomberg reported. The digital asset rallied as markets bet that the Trump is likely to embrace it.
The Bitcoin was trading 6.46% higher at $81,279.09 as of 7:41 a.m.
Oil Update: Future Prices Extend Losses On China Demand Worries
Crude oil prices extended losses on Monday on worries over demand outlook after China reported lower than expected inflation in October. China reported 0.3% inflation rate in October, compared to 0.4% analysts projected in a Reuters' poll.
The January future contract of the brent crude was trading 0.27% lower at $73.67 a barrel as of 7:21 a.m. IST.
Stock Market Live: Citi Research On India Life Insurance
Pick HDFC Life and SBI Life as top picks
Maintain Overweight on HDFC Life, TP Rs 820 (+15.7%)
Maintain Underweight on ICICI Prudential Life, TP Rs 760 (+7.2%)
Maintain Overweight on SBI Life Insurance, TP Rs 2,040 (+29.8%)
Lifers reported moderation in individual APE to +12% YoY in Oct’24
Reduction in pace of growth lower than street expectations
HDFC Life and ICICI Prudential strong growth, life individual APE +21%/+22% YoY
Max Life growth higher than industry avg for private peers
SBI Life was tad lower than industry average, individual APE up 10% YoY
US Market Update: Stocks End The Election–Week Higher
Share indices ended higher on Wall Street Friday to conclude the election–week on a positive note. The S&P 500 and Nasdaq Composite indices ended 0.38% and 0.09% higher, respectively. The Dow Jones Industrial Average ended 0.59% up.
Asia Market Update: Markets Log Losses In Early Trade
Asia–Pacific markets were trading lower on Monday as details of China stimulus did not boosted investors' confidence to revive the demand in the world's second largest country.
The KOSPI and S&P ASX indices were trading 1.16% and 0.50% down, respectively as of 06:53 a.m.
GIFT Nifty Near 24,100; LIC, Shipping Corp, Welspun Corp Share Prices In Focus
The GIFT Nifty was trading near 24,100. Life Insurance Corporation of India, Shipping Corp of India, Tata Motors Ltd. and Welspun Corp Ltd. share prices may react.
The GIFT Nifty was 0.32% or 80.65 points lower at 24,122.00 as of 06:30 a.m.
The benchmark indices ended lower for second day in a row on Friday, as ICICI Bank Ltd. and Reliance Industries Ltd. share prices dragged.
The Nifty 50 ended 51.15 points, or 0.21% down at 24,148.20, and the Sensex ended 55.47 points, or 0.07% lower at 79,486.32.
"Markets are expected to remain sideways on the back of mixed global factors and subdued quarterly results. However there could be stock specific action on account the last leg of Q2 earnings to be announced next week," said Siddhartha Khemka, head, research, wealth management, Motilal Oswal Financial Services Ltd.
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