KEY HIGHLIGHTS
US Futures Trade Little Change
Futures contract of US benchmark indices traded with little change at 3:27 p.m. Dow Jones was at 43,109.00 down 0.08% while S&P 500 rose 0.12% to 5,868 and Dow Jones rose 0.18% to 20,486.25.
Economic Data Releases And Events For Oct 14
Japan: Banks are closed for Health and Sports Day
US: Banks are closed for Columbus Day
US: Federal Reserve Bank of Minneapolis President Neel Kashkari will participate in a panel discussion at the Central Bank of Argentina's Money and Banking Conference, in Buenos Aires — 6:30 p.m. IST
Nifty, Sensex End At Over One–Week High Ahead Of RIL, HCL Tech Q2 Earning: Market Wrap
The NSE Nifty 50 and BSE Sensex rebounded from Friday's losses tracking sharp gains in Infosys Ltd., and HDFC Bank Ltd. share prices. The indices at over one–week high on Monday.
The Nifty 50 ended 0.66% higher at 25,127.95 and the Sensex ended 0.73% at 81,973.05, marking their highest close since Oct 3.
Market participants await earnings from Reliance Industries Ltd., HCL Technologies Ltd. To get live updates on RIL Q2 earnings click here.
During the session, the Nifty 50 rose 0.78% to 25,159.75, and the Sensex rose 0.85% to 82,072.17.
"A bullish Marubozu Open candlestick pattern was formed on the daily chart and breached its congestion zone and 50DMA hurdle; however, in the lower timeframe i.e. hourly chart, a convincing move above 25,200 will confirm the same. On the downside, the psychological level of 25,000 will work as immediate support and on the flip side, 25,160-25,200 will be considered a resistance zone," said Aditya Gaggar, director, Progressive Shares.
Infosys Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., and Kotak Mahindra Bank Ltd. added to the index.
Nestle India Ltd. Maruti Suzuki India Ltd., Bajaj Finance Ltd., Oil and Natural Gas Corp, and Tata Steel Ltd. weighed on the index.
On NSE, nine sectors advanced, three declined out of 12. The NSE Nifty Realty rose the most, and the NSE Nifty Media declined the most.
Broader indices underperformed with BSE Midcap adding 0.28% and BSE Smallcap closing 0.06% higher.
Four of the 20 sectoral indices ended lower and 16 rose. BSE Realty rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,070 stocks rose, 1,972 declined, and 153 remained unchanged on the BSE.
Rupee Ends Flat Against US Dollar
Rupee closed flat at 84.06 against the US dollar. It closed at 84.07 on Friday, according to data on Bloomberg.
Rupee closed flat at 84.06 against the US dollar
Rupee closed flat at 84.06 against the US dollar
Market At Close
The NSE Nifty 50 and BSE Sensex ended at over one–week high.
Infosys Ltd., HDFC Bank Ltd. were top leaders in the index.
Maruti Suzuki India Ltd., and Nestle India Ltd. were top losers in the index.
The NSE Nifty Realty and Nifty IT were top gainers among sectoral indices.
The NSE Nifty Midcap 150 ended 0.38% higher at 22,061.75.
The NSE Nifty Smallcap 250 ended 0.29% higher at 18,265.15.
RPP Infra Projects Gets Project Worth Rs 127 Crore
RPP Infra Projects Ltd. received a Letter Of Acceptance for new projects worth Rs 127 crore in Maharashtra, it said in an ex
Catch Live Updates On RIL Q2FY25 Earnings At NDTV Profit
Get all live updates about Reliance Industries Ltd Q2FY25 earnings at NDTV Profit's online website. Click here to visit RIL Q2 Results live blog.
Bondada Engineering Gets Letter Of Award For Rs 390 Crore
Bondada Engineering Ltd. received a Letter Of Award For Rs 390 crore project from Maharashtra State Power Generation Co, it said in an exchange filing.
Sterling & Wilson Q2FY25 Earnings Key Highlights (Consolidated, YoY)
Revenue rose 36% to Rs 1,030 crore from Rs 760 crore
Net Profit was at Rs 8.5 crore compared to Loss of Rs 54.5 crore
Ebitda at Rs 17.8 crore vs Rs 0.8 crore
Ebitda margin at 1.7% vs 0.1%
Europe Market Update: Most Stocks Gain As Trades Asses Impact Of China's Stimulus
Most stocks in Europe rose on Monday as investors assess the impact of stimulus Chinese authorities announced over the weekend. Finance Minister Lan Fo'an and his deputies announced that the local government can use bond to buy unsold homes. The central government still has room to increase borrowing and deficit, as reported by Bloomberg.
The Euro Stoxx 50 was 1.78 points or 0.04% lower at 5,002.14, and the FTSE 100 was 4.85 points or 0.06% down at 8,248.80 as of 2:20 p.m. The DAX was 0.12% or 22.65 points higher at 19,395.69 as of 2:21 p.m.
Alok Industries Q2FY25 Earnings Highlights (Consolidated, YoY)
Net Loss of Rs 262 crore compared to loss of Rs 175 crore
Revenue fell 35.4% at Rs 886 crore compared to Rs 1,372 crore
Ebitda loss at Rs 45 crore compared Ebitda of Rs 36 crore
Stock Market Live: Bharti Airtel Partners Zscaler
Bharti Airtel Ltd.'s arm partnered with Zscaler to introduce Airtel Secure Digital Internet, it said in an exchange filing.
Hindustan Construction Gets Order Worth Rs 1,032 Crore
Hindustan Construction Co. Ltd. received a Letter of Acceptance from Maharashtra government for construction of two-lane bridge for Rs 1,032 crore in the state, it said in an exchange filing.
Nifty, Sensex Extend Gains Ahead Of RIL, HCL Tech Results: Midday Market Update
India's benchmark equity indices extended gains through midday on Monday, awaiting second-quarter results from Reliance Industries Ltd. and HCL Technologies Ltd. later in the day.
At 12:14 p.m., the Nifty traded 0.74%, or 185.30 points, higher at 25,149.55, and the Sensex gained 0.81%, or 657.81 points, to trade at 82,039.17.
Shares of HCLTech rose as much as 0.8% to hit a record high of Rs 1,854 apiece, while those of Reliance Industries traded little change after erasing morning gains anticipating second quarter results.
Nifty is trading in a small range with its support at 24,900 and resistance at 25,150, according to Soni Patnaik, equity derivatives analyst at JM Financial.
"A breach on either side can help determine further trend," she said while noting that true short covering will happen only above 25,300 where there are a lot of call writers.
She said that it is also imperative to understand that FIIs have reduced long positions and are increasing net shorts; therefore, the possibility of any rise towards resistance may see a selloff until the 25,300 level is not getting crossed.
Also Read: Q2 Results Updates: RIL Revenue Flat At Rs 2.31 Lakh Crore; Reliance Jio Net Profit Up 14%
Shares of Infosys Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., and Bharti Airtel Ltd. contributed the most to the gains in Nifty. While those of Nestle India Ltd., Maruti Suzuki Ltd., Bajaj Finance Ltd., Axis Bank Ltd., and Tata Steel Ltd. weighed on the index.
Most sectoral indices were trading higher led by Nifty Realty and Nifty Bank.
Market breadth was skewed in favour of the buyers. As many as 2,081 stocks rose, 1,811 fell, and 164 remained unchanged on the BSE.
Broader indices underperformed, with BSE Midcap trading 0.1% lower and BSE Smallcap trading flat during midday trade on Monday.
Five out of the 20 sectoral indices on the BSE declined while 15 rose. BSE Realty rose the most.
Lemon Tree Hotels License Pact 65–Room Hotel In Dibrugarh
Lemon Tree Hotels signed a license pact for 65-room hotel in Dibrugarh, Assam, it said in an exchange filing.
Nifty IT Rises To Over Two–Week High; Infosys, Tech Mahindra Lead
The NSE Nifty IT rose as much as 1.53% to 42,985.10, the highest level since Sept 27. It was trading 1.28% higher at 42,876.05 as of 1:00 p.m., as compared to 0.59% advance in the NSE Nifty 50 index.
Unicommerce eSolutions Partners With Hidesign
Unicommerce eSolutions partnered with Hidesign to Strengthen E-commerce operations, it said in an exchange filing.
India's WPI Inflation At 1.84% In September
September Inflation Rate At 1.84% Vs 1.31% In August
September Food Inflation At 9.47% Vs 3.26% In August
September Primary Articles Inflation At 6.59% Vs 2.42% In August
September Fuel & Power Inflation At -4.05% Vs -0.67% In August
September Manufactured Products Inflation At 1% Vs 1.22% In August
Aviator ML Files Insolvency Plea Against SpiceJet In NCLT
Aviator ML Files insolvency plea against SpiceJet in NCLT. Aviator ML claims dues of Rs 58.6 crore from SpiceJet . The NCLT will Hear Aviator ML's Plea Against SpiceJet On November 11.
Source: Informist
Vascon Engineers Gets Order Worth Rs 57.23 Crore
Vascon Engineers Ltd. received an order worth Rs 57.23 crore from the Maharashtra Government. The company will construct commercial buildings at Kalbadevi Girgaon, it said in an exchange filing.
Stock Market Live: JSW Energy Signs Power Purchase Agreement With NTPC
JSW Energy Ltd. signed a power purchase agreement with NTPC Ltd. for 700 megawatt solar capacity, it said in an exchange filing.
Most Stocks Of Infrastructure Company Trades Mixed
Most infrastructure companies' stocks trade mixed on Monday after the Maharashtra cabinet decided to completely waive toll for light vehicles at entry point five toll points of Mumbai.
Markets Seeing A Bit Of Consolidated, Demeter Advisors Says
Demeter Advisors think there is a deep correction in the offing.
Market may be set for a bit of consolidation.
Markets will see some time correction for sure, unsure if it will be a price correction.
As supply continues to rise, it makes it difficult for markets to keep going up
Source: Ashwini Agarwal, Founder, Demeter Advisors to NDTV Profit
After Hitting Record High In Late September, Nifty 50 Shed 5% So Far
The Nifty 50 is still trading 15% in the green on a year-on-year basis but in the month gone by, the reading is in the red. Nearly 40% of Nifty 50 stocks are in the correction mode, according data collated by NDTV Profit. The benchmark Nifty 50 hit an all time high of 26,277.35 on Sept. 27. Since then, the benchmark has pulled back 5% from the milestone. Read more
Premier Energies Share Price Jumps Nearly 8%
Premier Energies Ltd. share price jumps nearly 8% after it received multiple orders worth Rs 765 crore for solar modules and solar cells, it said in an exchange filing.
The Premier Energies share price rose as much as 7.95% to Rs 1,196.80, the highest level since Sept 10. It was trading 7.56% higher at Rs 1,191.80 as of 10:28 a.m., as compared to 0.57% advance in the NSE Nifty 50 index.
Premier Energies share price rose as much as 7.95% to Rs 1,196.80
Premier Energies share price rose as much as 7.95% to Rs 1,196.80
Stock Market Live: HAL Share Price Rises After Getting Maharatna PSU Status
Hindustan Aeronautics Ltd. share price rose as much as 2.22% to Rs 4,544.80, the highest level since Sept 17. The stock rose as the Department of Public Enterprise gave HAL Maharatna Central Public Sector institution on Saturday.
HAL was trading 1.25% higher at Rs 4,501.90 as of 10:21 a.m., as compared to 0.52% advance in the NSE Nifty 50 index.
Hindustan Aeronautics Ltd. share price rose as much as 2.22% to Rs 4,544.80.
Hindustan Aeronautics Ltd. share price rose as much as 2.22% to Rs 4,544.80.
Stock Market Live: Ashoka Buildcon Share Price Rises To One–Month High
Ashoka Buildcon Ltd. shares jumped to hit its highest in a month as the company received three projects from Maharashtra State Road Development Corp with total worth of Rs 2,309.99 crore.
Stock Market Live Updates: Bajaj Housing Finance Share Price Declines
Bajaj Housing Finance Ltd. share price declined to near one–week low on Monday. The stock fell 4.56% to Rs 144.00, the lowest level since Oct 10. It was trading 4.15% down at Rs 144.62 as of 10:01 a.m., as compared to 0.61% advance in the NSE Nifty 50 index.
Bajaj Housing Finance share price fell 4.56% to Rs 144.00.
Bajaj Housing Finance share price fell 4.56% to Rs 144.00.
Stock Market Live: Infosys Share Prices Rise
Infosys Ltd. share price rose 1.06% higher to Rs. 1,955.70. The stock was trading 0.56% higher at Rs. 1,946.10 as of 09:55 a.m. as compared to 0.56% advance in the NSE Nifty 50 index.
Infosys Ltd. share price rose 1.06% higher to Rs. 1,955.70.
Infosys Ltd. share price rose 1.06% higher to Rs. 1,955.70.
Avenue Supermarts Share Price Falls To Over Six–Month Low
Avenue Supermarts Ltd. share price touched over six–month low on Monday after analysts expressed concern over its sluggish growth outlook in the wake of rise in quick e–commerce.
Meanwhile, DMart reported a less than expected growth in its net profit for July–September period. Its net profit rose 5.8% on an annualised basis to Rs 659.44 crore, compared to Rs. 812 crore.
Avenue Supermarts share price fell 9.46% to Rs 4,139.95, the lowest level since March 21. It was trading 6.69% down at Rs 4,266.85 as of 09:45 as compared to 0.53% advance in the NSE Nifty 50 index.
Avenue Supermarts share price fell 9.46% to Rs 4,139.95.
Avenue Supermarts share price fell 9.46% to Rs 4,139.95.
Stock Market Live: L&T Share Price Rises After JPMorgan Initiates Coverage With Overweight
Larsen & Toubro Ltd. share price rose after the JPMorgan Chase & Co initiated coverage on the company with 'Overweight' rating with a target price Rs 4,360.
The share price rose 1.68% to Rs. 3,551.00, the highest level since Oct 10. It was trading 1.77% higher at Rs. 3,544.20 as of 09:36 a.m., as compared to 0.33% advance in the NSE Nifty 50 index.
Larsen & Toubro Ltd. share price rose 1.68% to Rs. 3,551.00.
Larsen & Toubro Ltd. share price rose 1.68% to Rs. 3,551.00.
Nifty, Sensex Rebound As Infosys, L&T Lead: Opening Bell
The NSE Nifty 50 and BSE Sensex rebounded at open on Monday as Infosys Ltd. and Larsen & Toubro Ltd. share prices rose. As of 09:17 a.m., the Nifty 50 was 100.05 points or 0.40% higher at 25,064.30, and the Sensex was 325.17 points or 0.40% higher at 81,706.53.
The Nifty 50's behaviour is significant against the 25,000-25,050 zone, given that the 25,050 aligns with the 50-day moving average, while the 25,000 level remains a psychologically important threshold, said Ameya Ranadive, senior technical analyst, StoxBox.
The upcoming week may witness a subdued start, with 25,100 and 25,440 as probable resistance points. The 24,750-24,650 zone is expected to provide immediate and firm support, and sustainability above it could bolster bullish strength in the index, Ranadive said.
The Sensex was trading 0.32% higher at 81,645.32.
The Sensex was trading 0.32% higher at 81,645.32.
The Nifty 50 index was trading 0.32% higher at 25,043.30.
The Nifty 50 index was trading 0.32% higher at 25,043.30.
The Nifty Bank was trading 0.26% higher at 51,306.20.
The Nifty Bank was trading 0.26% higher at 51,306.20.
Infosys Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., and Wipro Ltd. added to the index.
Bharti Airtel Ltd., ICICI Bank Ltd., Mahindra & Mahindra Ltd., Axis Bank Ltd., and Bajaj Finance Ltd. weighed on the index.
The top contributor chart.
The top contributor chart.
All 12 sectors opened higher on NSE Monday. The NSE Nifty Metal rose the most to become the best performing sectoral index.
Sectoral indices open higher on Monday.
Sectoral indices open higher on Monday.
Broader markets traded on a mixed note. The BSE Midcap was 0.07% down, while the BSE Smallcap was 0.27% higher.
On BSE, 15 sectors advanced, five declined out of 20. The BSE Metal rose the most. The BSE FMCG declined the most.
Market breadth was skewed in favour of buyers. Around 1,897 stocks rose, 1,118 stocks declined, and 138 stocks remained unchanged on BSE.
Nifty, Sensex Higher At Pre–Open
At pre–open, the NSE Nifty 50 was 59.20 points or 0.24% higher at 25,023.45, and the BSE Sensex was 0.24% higher at 81,576.93.
Hyundai India Has Unique Proposition In Underpenetrated Car Industry, Says Incred Capital
Hyundai India has unique proposition in underpenetrated car industry
Hyundai India also has better profitability despite lower gross profits
Hyundai India needs to fix up new product launches
Hyundai's valuations seems on par with competition
Based on EV/EBITDA IPO is priced at 20% discount
Hyundai India strength is its a global company
Hyundai Global parent talking on Hybrid focus is bet on improved products
Source: Pramod Amthe, Head of Institutional Equity Research, Incred Capital to NDTV Profit
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 6.78%. It closed at 6.79% on Friday, according to data on Bloomberg.
Rupee Strengthens Against US Dollar
Rupee strengthened by 2 paise to open 84.05 against the US dollar. It closed at 84.07 on Friday.
The currency hit an all-time low of 84.09 on Friday, according to data on Bloomberg.
JP Morgan Initiates Coverage On L&T
JP Morgan on L&T Initiates 'Overweight' rating with a target price Rs 4,360, which implied a 25.2% upside
Trading at 25x FY26E core EPS with 23% EPS CAGR over FY24-FY27E
Believes co offers attractive combination of growth at reasonable valuation
Expects 60 basis points core margin expansion over FY24-FY27E
Expects L&T well suited to benefit from capex tailwinds in India and Middle East
Stock Market Live: Gold Prices Fall Slightly
Gold prices eased slightly in Asian trade on Monday as the dollar index regained strength to trade near two–month high after strong inflation prints from the US weighed on rate cut expectations.
The Bloomberg spot gold was down 0.08% down at $2,654.55 an ounce as of 08:27 a.m., according to data on Bloomberg terminal.
Asia FX Update: Currencies Tumble As Dollar Index Moves Toward Two–Month High
Asian currencies slid against the US currency as the dollar index continued to trade near two–month high on Monday as recent strong economic data from the US brushed off possibility of a 50 basis points rate cut.
The South Korean Won declined the most against the US dollar compared to peers. It was trading 0.44% down against the greenback as of 08:15 a.m. IST.
The Thai Baht and Malaysian Ringgit were the top loser after the South Korean unit. Both were trading 0.33% and 0.22% down as of 08:15 a.m. IST, as per Bloomberg terminal.
The dollar index, which measures the strength of the greenback against six major currencies, rose as much as 103.12. It was trading 103.01 as of 08:18 a.m.
The greenback gained strength after data showed US PPI remained unchanged in September, and the core US PPI rose.
The index touched 103.20, the highest level since Aug 15 on Thursday when data showed US CPI fell less than expected in September, while core CPI rose.
Brokerages On Avenue Supermarts
Citi Research
Maintains sell with a target price of Rs 3,500 which implied 26% downside
Bill cuts declined QoQ despite the addition of new stores
EBITDA/PBT growth has lagged revenue growth in 7 of the last 8 quarters
Trims FY25-27E EPS estimate by 4-6%
Valuation as risk-reward seems unfavourable at 82x FY26E P/E
Motilal Oswal Financial Services
Reiterates 'Buy' rating on the stock with a target price of Rs. 5,300, which implied a 13.7% upside
Estimates a CAGR of 17%/20% in revenue/PAT over FY24-27
Weaker store productivity and higher CoR offset slightly higher store additions
Higher share of GM&A likely boosted gross margin
DMART’s revenue growth remains dependent on its ability to add store area
Believe store additions can pick up pace starting 2HFY25
Would watch out for impact of quick commerce on DMART’s LFL growth
Nuvama
Retains hold with revised target price of Rs. 5,040 (earlier Rs. 5,183, which implied an upside of 10%
Weak Q2FY25 owing to lower productivity of stores
DMart Ready’s growth slowed to 22% YoY in H1FY25 from 32% in FY24
Building in 45 stores for FY25
Bernstein
Rates outperform with a target price of Rs. 5,800 which implied an upside of 27%
One quarter of results does not indicate a shift in DMart’s long-term story
Store opening potential remains high in new & existing clusters
Believe value seeking customers will remain the primary purchase driver for a large part of India
Also acknowledges that growth may continue to come under pressure in the short term
CLSA
Rates outperform cuts target price from Rs 5,650 to Rs 5,360
Cuts FY25-FY27 estimates 13%-15%
Believes DMART is making the appropriate pivot to private labels which will place it well to meet future competition
Believes DMART's low cost model remains largely unchallenged in the medium term
Remains confident in DMART's model and long-term store growth, while optimistic about quick commerce prospects.
Stock Market Live: Emkay Global Starts Covering NALCO
Emkay initiated 'Buy' rating on NALCO with a target price Rs 275, which implied a 23.4% upside
Sees solid earnings momentum over next 2-3 years
Expects EBITDA to double to Rs 6,100 cr by FY27E
Market sentiment to turn positive as company delivers on profitability
Delivery of the 1mt alumina refinery expansion project to provide a fillip
Valuations appear undemanding at 7.7x FY26E EV/EBITDA
Crude Oil Update: Oil Prices Down Over 1%
Crude oil prices were trading over 1% down in Asian trade Monday as China's Finance Ministry briefing did not offer any new incentive to support consumption in the world's second largest economy. Moreover, China's CPI came weaker than expected, while PPI declined at the fastest pace in six months, raising concerns about deflations.
Worries over China's recovery and deflation trend weighed on crude oil's demand outlook. The brent crude was trading 1.30% down at $78.00 a barrel as of 07:19 a.m.
Stock Market Live: Asia–Pacific Markets Gain
Markets in Asia–Pacific region were trading higher as investors assess outcome of the Chinese Ministry's briefing over the weekend. Markets in Japan remained closed on Monday.
The KOSPI and S&P ASX 200 were trading 0.75% and 0.37% higher, respectively as of 07:02 a.m.
Stock Market Live: US Markets Closes Higher After Hitting Fresh High
US stocks closed higher on Friday after touching fresh high tracking sharp gains in bank stocks as earning season started, Bloomberg reported.
The S&P 500 ended 0.61% higher at 5,815.03 after it scaled its 45th record high. The Nasdaq Composite and Dow Jones Industrial Average ended 0.33% and 0.97%, higher respectively on Friday.
GIFT Nifty Near 25,100; JSW Energy, RIL, Sula Vineyard Share Prices In Focus
The GIFT Nifty was trading near 25,100 in early trade Monday. JSW Energy Ltd., Sula Vineyards Ltd. share prices will be monitored because of the news flow over last three days. Reliance Industries Ltd., HCL Technologies Ltd., and Angel One Ltd. will be in focus for their upcoming earnings for July–Sept.
The GIFT Nifty was trading 0.28% or 70 points higher at 25,143.00 as of 06:30 a.m.
The Nifty 50 and Sensex closed lower for second week on Friday tracking a decline in Titan Co. and Tata Steel Ltd. Meanwhile, the benchmarks ended Friday on a negative note as bank stocks declined along with Tata Consultancy Services Ltd.
On Friday, Nifty ended 0.10%, or 24.15 points, down at 24974.3, and Sensex closed 0.22%, or 176.01 points, lower at 81435.40.
The Nifty 50 was traded sideways throughout the session to close with a marginal loss of 34 points at 24964 levels. Broader market outperformed with the Nifty midcap 100 up +0.5% and the Nifty smallcap 100 up 0.6%, said Siddhartha Khemka, head, research, Wealth Management, Motilal Oswal Financial Services.
Overall Motilal Oswal Financial Services expect markets to consolidate at higher zones and take cues from global factors & result season, Khemka said.
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