KEY HIGHLIGHTS
US Pre–Market: Futures Little Changed Ahead Of Third Quarter GDP Data
As of 3:42 p.m., futures contract of Dow Jones was flat at 42,455.00, that of S&P 500 was 0.2% higher at 5,880.25, and Nasdaq 100 rose 0.1% to 20,721.75.
Economic Data Releases And Events For Oct 30
Europe: Prelimianry Flash GDP — 3:30 p.m. IST
US: ADP Non–Farm Employment Change — 5:45 p.m. IST
US: Advance July–September GDP Estimates — 6:00 p.m. IST
US: Advance GDP Price Index — 6:00 p.m. IST
US: Pending Home Sales — 7:30 p.m. IST
Germany: Deutsche Bundesbank President Joachim Nagel will give a speech at the Frankfurt Society for Trade, Industry, and Science — 11:30 p.m. IST
Sensex, Nifty Resume Declines After Two-Day Rally; Cipla Falls Over 4%: Market Wrap
The NSE Nifty 50 and BSE Sensex resumed decline after two–day rally amid a jump in the market volatility as Infosys Ltd. and ICICI Bank Ltd. share prices declined. The NSE India Volatility index ended at the highest level since Aug 13.
The Nifty 50 ended 126.00 points or 0.51% down at 24,340.85, and the Sensex ended 426.85 points or 0.53% down at 79,942.18.
Moreover, a decline in Asian share indices and Europe markets also pressured the Indian benchmarks as investors across the world await Gross Domestic Product data from Europe and the US.
During the session, the Nifty 50 declined 0.65% to 24,307.30, and the Sensex declined 0.68% to 79,821.99.
The India Volatility index jumped 8.16% to 15.70, the highest level since Aug 14. The index ended 6.85% higher at 15.51.
Cipla Ltd. share price ended over 4% lower on Wednesday as analysts cut target price, citing weaker than expected domestic business and challenges in its key products.
The Sensex settled 0.53% down at 79,9942.18
The Sensex settled 0.53% down at 79,9942.18
The Nifty 50 ended 0.48% down at 24,350.30.
The Nifty 50 ended 0.48% down at 24,350.30.
"On daily charts, the index has formed small candle which suggests indecisiveness between the bulls and the bears . We are of the view that, currently market is witnessing range bound activity hence buying on dips and sell on rallies would be the ideal strategy. For traders, 24,250-24,200/79,700-79,500 would act as a key supports zones while 24,500-24,550/80,400-80,600 could act as key resistance areas for the bulls. However, below 24,200/79,500 uptrend would be vulnerable," said Shrikant Chouhan, head, equity research, Kotak Securities.
The Nifty Bank ended 0.90% down at 51,850.00
The Nifty Bank ended 0.90% down at 51,850.00
Infosys Ltd., ICICI Bank Ltd., HDFC Bank Ltd., Axis Bank Ltd., and Mahindra & Mahindra Ltd. weighed on the Nifty 50 index.
ITC Ltd., Maruti Suzuki India Ltd., Larsen & Toubro Ltd., Adani Enterprises Ltd., and Hero MotoCorp Ltd. added to the index.
Top contribution to the Nifty 50 index.
Top contribution to the Nifty 50 index.
On NSE, eight sectors ended lower, three advanced, and one remained largely flat out of 12. The NSE Nifty Finance declined the most, and the Nifty Media rose the most.
Most sectoral indices ended lower.
Most sectoral indices ended lower.
Broader indices outperformed with BSE Midcap ended flat and BSE Smallcap ended 1.5% higher.
Four of 20 sectoral indices on the BSE ended lower and 16 rose. BSE Services rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,892 stocks rose, 1,040 stocks fell, and 79 remained unchanged on 79 remained unchanged on the BSE.
Rupee Closes Flat Against US Dollar
The local currency closed flat against the US dollar at 84.0800 on Wednesday. It's the rupee's record closing low level, which the currency first posted on Oct 23
On Tuesday, the Indian unit closed at 84.0750 a dollar, according to data on Cogencis
India rupee settled flat against the US dollar.
India rupee settled flat against the US dollar.
Market At Close
The NSE Nifty 50 and BSE Sensex reversed recovery on Wednesday as volatility spiked.
ICICI Bank Ltd. and Infosys Ltd. share prices were top losers in the Nifty 50 index.
ITC Ltd., and Maruti Suzuki India Ltd. share prices were top gainers in the Nifty 50 index.
The NSE Nifty Media rose the most while the NSE Nifty Finance declined the most.
The Nifty Midcap 150 ended 0.21% higher at 20,190.75.
The Nifty Smallcap 250 ended 1.19% higher at 17,483.80.
Stock Market Live: Zaggle Prepaid Approves Raising Funds
Zaggle Prepaid Ocean Services Ltd. approved raising of funds up to Rs 950 crore via qualified institutional placement, it said in an exchange filing.
Aditya Birla Capital Q2 Highlights (Consolidated, YoY)
Total income up 36.05% at Rs 10,362 crore versus Rs 761 crore
Net profit up 42% at Rs 1,000.9 crore versus Rs 705 crore (Bloomberg estimate: Rs 711 crore)
Watch India Market Close At NDTV Profit
Europe FX Update: Euro & Pound Sterling Gain
The Euro and Pound sterling gained against the greenback before Europe GDP and UK Budget release. The Euro and Pound sterling were trading 0.18% and 0.05% higher against the US unit, respectively as of 2:25 P.M. IST.
The dollar index retreated from the fresh two–and–a–half month high it hit in the previous session, which also supported the European currencies. The dollar index, which measures the strength of greenback against six major currencies, was trading 0.22% down at 104.09 as of 2:19 p.m.
AIA Engineering Q2 Highlights (Consolidated, YoY)
Revenue down 19.4% at Rs 1,044 crore versus Rs 1,295 crore (Bloomberg estimate: Rs 1,299 crore)
Net profit down 21% at Rs 256 crore versus Rs 324 crore (Bloomberg estimate: Rs 301 crore)
Ebitda down 28% at Rs 276 crore versus Rs 382 crore (Bloomberg estimate: Rs 344 crore)
Ebitda margin at 26.4% versus 29.5% (Bloomberg estimate: 27%)
Europe Market Update: Markets Tumble Before Europe GDP Data
Markets in Europe were trading in losses on Wednesday before the release of region's preliminary flash GDP data for July–September, scheduled for later today. Investors also await the release of UK's budget.
Losses in Asian share indices also pressured benchmarks across Europe.
European shares declined on Wednesday.
European shares declined on Wednesday.
Stock Market Live: India's Volatility Index Surges To Over Two–Month High
The NSE India Volatility index jumped 8.16% to 15.70, the highest level since Aug 14. It was trading 7.15% higher at Rs 15.56 as of 1:35 p.m.
The India VIX rose 7.48% higher at 15.60.
The India VIX rose 7.48% higher at 15.60.
Quick Commerce Industry Still In Early Days, Swiggy Says
Quick commerce exciting category, still in early days of evolution of category, going through quick transformation. Consumer response has been exciting so far, think the industry is still in early days, said management of the company to NDTV Profit
Asia Market Update: Most Stocks End Lower Ahead Key Data Releases
Asia–Pacific markets ended lower on Wednesday except Japan as investors braced themselves from data releases from Europe and US.
Most Asian markets declined
Most Asian markets declined
P&G Hygiene Q2 Net Profit Slightly Down
P&G Hygiene Q2 Results (YoY)
Net Profit down 0.4% at Rs 73.5 crore vs Rs 73.8 crore
Revenue down 0.29% at Rs 1,135 crore vs Rs 1,138 crore
EBITDA up 2% at Rs 291 crore vs Rs 285 crore
Margin At 25.6% Vs 25%
Sterlite Tech Q2 Highlights (Consolidated, YoY)
Revenue down 5% at Rs 1,413 crore versus Rs 1,494 crore
Net loss of Rs 14 crore versus profit of Rs 32 crore
Ebitda down 30% at Rs 151 crore versus Rs 216 crore
Ebitda margin at 10.7% versus 14.5%
Stock Market Live Updates: Shalby Share Price Tumbles
Shalby Ltd. share price tumbled following its July–September earnings. Here are the highlights:
Shalby Q2 Highlights (Consolidated, YoY)
Revenue up 12% at Rs 267 crore versus Rs 238 crore
Net profit up 91% at Rs 2.4 crore versus Rs 27.6 crore
Ebitda down 13% at Rs 132 crore versus Rs 153 crore
Ebitda margin at 49.5% versus 64.1%
Shalby share price fell 6.44% to Rs 244.80 apiece.
Shalby share price fell 6.44% to Rs 244.80 apiece.
JTL Industries Ecxpands Raipur Plant
JTL Industries Ltd. expanded Raipur plant capacity to 2 lakh metric tonn per annum. The company intends to accelerated growth towards 1 million MTPA goal, it said in an exchange filing.
Stock Market Live: IndusInd Bank Partners With Trustmore
IndusInd Bank Ltd. partnered with Trustmore (Escrowpay) to offer secure digital escrow services across India, it said in an exchange filing.
Stock Market Live Updates: Adani Group Stocks Advance
Most stocks of Adani Group of companies rose on Wednesday. Adani Enterprises Ltd. share price was leading the gains. It rose as much as 4.67% to Rs 2,981.55 apiece, the highest level since Oct 18.
Adani group stocks advanced.
Adani group stocks advanced.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Stock Market Live: Elcid Invest Ltd. Stock Soars Nearly 50%
Shares of Elcid Invest Ltd. surged nearly 50% on Wednesday, following a dramatic relisting on the Bombay Stock Exchange the previous day. The small-cap stock saw an astonishing increase of over 450,000% after being relisted on October 29, highlighting a turn in investor interest.
Stock Market Live: Paisalo Digital Share Price Rises After Net Profit Increases
Paisalo Digital Ltd. share price rose after the company reported that its net profit rose 4.9% on the year to Rs 49.5 crore compared to Rs 47.2 crore.
For latest earning releases click here.
Paisalo Digital share price rose 5.11% to Rs 46.11 apiece.
Paisalo Digital share price rose 5.11% to Rs 46.11 apiece.
Honeywell Automation Share Price Falls To Lowest Level Since May 10
Honeywell Automation India Ltd. share price declined 9.12% to Rs 44,500.00, the lowest level since May 10. The stock declined as the company reported 5.73% decline on the year in its net profit for July–September. Its net profit stands at Rs 115 crore compared to Rs 161 crore analysts estimated in a Bloomberg's survey.
Honeywell Automation share price declined 7.82% to Rs 45,140.00 apiece.
Honeywell Automation share price declined 7.82% to Rs 45,140.00 apiece.
Stock Market Today: Siemens Gets Final Assessment Order From IT Deparment
Siemens Ltd. received final assessment order from Income Tax Department Of Rs 136.9 crore for assessment year 2022, it said in an exchange filing.
Stock Market Live: Cipla Share Price Falls To Five-Month Low
Cipla Ltd.'s share price fell to a five-month low on Wednesday after analysts cut their target price on the stock, citing weaker than expected domestic business and challenges in its key products.
Cipla share price was trading 3.56% lower at Rs 1,424.95 apiece
Cipla share price was trading 3.56% lower at Rs 1,424.95 apiece
Maurti Suzuki India Share Price Rebounds
Maruti Suzuki India share price started to recover losses from more than eight–month lows it hit on Tuesday The stock price rose as much as 3.15% to Rs 11,393.80 apiece so far today.
On Tuesday, slumped 6.45% to Rs 10,742.45 apiece, the lowest level since Feb 14 after reporting a 17.4% year-on-year decline in its net profit for the second quarter.
Maruti Suzuki India share price rose 2.07% higher to Rs 11,275.20 apiece.
Maruti Suzuki India share price rose 2.07% higher to Rs 11,275.20 apiece.
Voltas Share Price Hits Over Two Month Low As Profit Slumps Sequentially
Voltas share price fell to the lowest in over two months on Wednesday as the company reported disappointing results on a sequential basis for July–September.
Voltal share price declined 6.82% to Rs 1,649.90 apiece, the lowest level since Aug 20.
Voltas share price fell 4.49% to Rs 1,691.80 apiece.
Voltas share price fell 4.49% to Rs 1,691.80 apiece.
Stock Market Live Updates Today: Shriram Properties Share Price Gains
Shares of Shriram Properties Ltd., a residential real estate developer from South India, were up 7% after the company announced a joint development agreement for a six acre land parcel in Undri, Pune.
Shriram Properties share price was trading 4.57% higher at Rs 108.80 apiece.
Shriram Properties share price was trading 4.57% higher at Rs 108.80 apiece.
Stock Market Live: Airtel Share Price Rise Slightly As Brokerages Maintain Positive Outlook
Bharti Airtel shares gained 0.9% in early trading on Wednesday, buoyed by a positive response from brokerages following the company’s quarterly earnings report. Despite a slight sequential decline in net profit, the stock remains a favored choice among analysts, who continue to recommend a 'Buy' rating.
Bharti Airtel share price declined 0.57% to Rs 1,627.70 apiece.
Bharti Airtel share price declined 0.57% to Rs 1,627.70 apiece.
Nifty, Sensex Open Lower As M&M, HDFC Bank Share Prices Drag
The NSE Nifty 50 and BSE Sensex started Wednesday on a negative note tracking a decline in Mahindra & Mahindra Ltd. and HDFC Bank Ltd. share prices. As of 09:17 a.m., the Nifty 50 was 103.55 points or 0.42% down at 24,363.30, and the Sensex was trading 332.91points or 0.41% down at 80,036.12.
The Nifty 50 faces an immediate resistance level near 24,630, with 100 daily moving average serving as an overhead barrier. The index is expected to gain bullish momentum upon reclaiming the average line, said Ameya Ranadive, a senior technical analyst, StoxBox. During the day, earnings reports could act as a major trigger.
The Sensex was trading 0.43% down at 80,024.55.
The Sensex was trading 0.43% down at 80,024.55.
The Nifty 50 was trading 0.36% down at 24,379.70.
The Nifty 50 was trading 0.36% down at 24,379.70.
The Nifty Bank was trading 0.39% down at 52,118.90.
The Nifty Bank was trading 0.39% down at 52,118.90.
Maruti Suzuki India Ltd., ITC Ltd., Tata Consultancy Services Ltd., Tata Motors Ltd., and Bharat Electronics Ltd. limited losses to the Nifty 50 index.
Top contributors to the Nifty 50 index.
Top contributors to the Nifty 50 index.
On NSE, 10 sectors declined, one remained flat, and one advanced out of 12. The NSE Nifty Pharma declined the most, and the NSE Nifty FMCG rose the most.
Most sectoral indices opened lower at NSE.
Most sectoral indices opened lower at NSE.
Broader markets were trading on a mixed note. The BSE Midcap index was 0.36% down while the Smallcap index was 0.55% up.
On BSE, 12 sectors declined, and eight advanced out of 20. The BSE Consumer Durables declined the most, and the BSE Industrial rose the most.
Market breadth was skewed in favour of buyers. Around 1,977 stocks advanced, 785 stocks declined, and 100 remained unchanged on BSE.
Stock Market Live: Nifty, Sensex Trade Lower At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.39% down at 24,371.45, and the BSE Sensex was trading 0.14% down at 80,255.51.
Yield On The 10-Year Bond Opens Lower
The yield on the 10-year bond opened 2 basis points lower at 6.84%. It closed at 6.86% on Tuesday, according to data on Cogencis.
Rupee Opens Flat Against US Dollar
The local currency opened flat against the US dollar at 84.0625. On Tuesday, the Indian unit closed at 84.0750 a dollar, according to data on Cogencis.
The Indian rupee was trading flat at open.
The Indian rupee was trading flat at open.
Also Read: Rupee Ends Flat Against US Dollar
Stock Market Live Updates Today: CLSA On Adani Ports & SEZ
Maintain Outperform with a target price Rs 1,764, which implied a 28% upside.
H1FY25 Mundra traffic is up 18% vs all ports growth of 9% YoY
Diversified mix helps resurgence of Mundra
Several moves on strategy with delivery on deleveraging
Expect EBITDA to be at higher end of the band of 17-18k crore despite challenging global environment
Nuvama On Hitachi Energy
Maintains Buy with a target price Rs 16,500 vs Rs 14,250 earlier, which implied a 15.8%
Solid operational performance in H1FY25, margin uptick remains key
Expect operating margins recovering to ~14% by FY27E (vs peers 18–20% levels)
Factor strong execution over FY26–27E given all-time high order book
Revise FY25E/FY26E/27E EPS by (7%)/(2%)/16%
Stock Market Live: Nuvama On Somany Ceramics
Maintain Buy with TP 918 vs 960 earlier, Upside 41%
Volume growth at 3% vs 8.5% for market leader Kajaria
Margins at 8.4% is lower than estimates of 9%
Given the challenging demand scenario, Co has cut volume growth guidance to 5–6% in FY25 from low double digit earlier
Cut FY25E/26E/27E EPS by 9% each for Somany
Still sees improvement in EBITDA margins by 100–150bps
Despite challenging times, Co maintained working capital strength at 13 days
Retain Buy on balance sheet discipline and increased focus on value-added share to aid margin expansion
Stock Market Live Updates Today: NTPC Share Price May React As It Commissions Solar Plant Operation
NTPC Ltd. commissioned operation of a new solar plant in Bikaner, Rajasthan, which may result in some movement in its share price. The Shambu Ki Burj–2 (Kolayat) solar power plant has a capacity of 32.90 megawatt. To read more click here.
Asia FX Update: Currencies Trade Mixed
Asian currencies were trading on a mixed note against the greenback as market participants assess mixed set of data from US.
The Japanes yen was trading flat against the US dollar. The South Korean Won and Philippine Peso also remained flat against the greenback as of 08:09 a.m. IST, according to data on Bloomberg.
The Indonesian rupiah rose 0.22%, while the Malaysian Ringgit declined 0.18% down against the US dollar, according Bloomberg data.
The dollar index rose 0.31% to 104.64 on Tuesday following mixed set of data. Data showed that job openings in the US fell to 7.443 million in September, from 7.861 million in August. Analysts expected job openings to remain unchanged at 7.99 million.
Meanwhile consumer confidence in the world's largest economy rose to the highest in nine months. The Conference Board’s Consumer Confidence Index rose to 108.7 in October, from 99.2 in September.
The dollar index was trading 0.04% down at 104.72 as of 08:05 a.m. IST, according to data on Bloomberg.
Oil Update: Futures Price Snap Two–Day Decline
Crude oil future prices snapped two–day losing streak on Wednesday on signs of easing in geopolitical situation in the Middle–East. The December contract of brent crude was trading 0.45% higher at $71.44 a barrel as of 7:48 a.m. IST.
Israel is seemed to end the war with Hezbollah by year end after its retaliatory strike missed Tehran's oil and nuclear facilities, Bloomberg reported.
Stock Market Live: Systematix on Cipla
Upgrade to BUY from HOLD at price target of Rs 1756; upside potential 19%
Key Catalysts:
Approvals for gAbraxane, respiratory, and peptide assets in U.S.
Revival of growth in domestic branded formulation
Net cash of ~$1 billion supports potential acquisitions for long-term growth.
Medium-to-long-term outlook bolstered by strategic initiatives.
Stock Market Live Updates Today: US Treasury Yield Trade With Little Change
The yield on the benchmark 10–year US Treasury was trading with little change in Asian session after mixed set of economic data from the US. While the number of job openings in the world's largest economy fell to the lowest level in 2021, and consumer confidence rose.
The yield on the 10–year US treasury note was trading 0.03% down at 4.24% as of 7:27 a.m. IST.
Asia Market Update: Most Markets Decline As Traders Assess Earnings & US Job Opening Data
Most markets in Asia–Pacific declined in early trade in contrast to overnight moves on Wall Street. Market participants parsed earning reports from mega technology companies, and US Job Openings and Labor Turnover Survey data.
The KOSPI and SP ASX 200 were trading 0.37% and 0.47% down, respectively as of 7:17 a.m.
Bucking the trend, Japan's Nikkei was trading 0.97% higher as investors prepare themselves for the Bank of Japan's rate decision on Thursday.
Stock Market Live: Brokerages On Bharti Airtel
Nuvama
Delivered decent Q2, ARPU rose but subscriber base decreased, both an outcome of the tariff hikes
Retain BUY, Target: Rs 1,900 (earlier Rs 1,750), upside 15.7%
Bharti’s stable growth and strong FCF continue to bolster its balance sheet
With tariff hikes undertaken by all players, Bharti is in an enviable position
Motilal Oswal Financial
Maintain Buy with a target price Rs 1,900 which implied a 15.7% upside.
Reported strong 2QFY25, driven by flow-through of tariff hikes in the India wireless business
FY25-26 earnings estimates are broadly unchanged
Continue to like BHARTI’s superior execution on the premiumization agenda
With moderation in capex intensity, BHARTI is likely to generate significant FCF
Citi Research
Maintain Buy and reduced the target price RS 1,900 from Rs 1950, which implied an upside of 15.7%
Make minor changes to our segmental EBITDA, capex, and net debt forecasts following 2QFY25 results.
FY25-27E EBITDA changes are 3-4%
Stock Market Live: Gold Prices Hit Fresh Highs
Gold prices scaled fresh highs in Asian trade Wednesday as job openings in the US touch the lowest level since 2021. The US Job Openings and Labor Turnover Survey data came in contrast to non–payroll data earlier in October, which foreced traders to take back their bets on aggressive rate cuts.
The Gold December future price rose 0.40% to a record high of $2,792.10. The Bloomberg spot gold rose 0.18% to a fresh high of $2,779.86 an ounce.
The Gold December future contract was trading 0.30% higher at $2,790.10 as of 6:45 a.m. IST. The spot gold was trading 0.11% higher at $2,777.74 an ounce.
US Market Update: Most Stocks Rise As Technology Cos' Earnings Lift Investors' Sentiment
Most stocks in the US ended higher on Tuesday as earnings from mega technology companies uplifted investors sentiment. Google's parent Alphabet Inc rose after beating street estimates and pushed the Nasdaq Composite to fresh high, Bloomberg reported.
The Nasdaq Composite rose 1.00% to a record high of 18,753.19.
Reddit Inc. also beat sales expectation for third quarter, while McDonald's sales fell short of Wall Street expectations, Bloomberg reported.
The Nasdaq Composite ended 0.78% higher at 18,712.75, and the S&P 500 settled 0.16% higher at 5,832.92. Meanwhile, the Dow Jones Industrial Average ended 0.36% down at 42,233.05.
GIFT Nifty Near; Kaynes Technology, NTPC, Welspun Enterprises Share Prices In Focus
The GIFT Nifty was trading above 24,400 in early trade on Wednesday. Kaynes Technology India Ltd., NTPC Ltd., and Welspun Enterprises Ltd. share prices are likely to react in today's session due to news flow and earning numbers.
The GIFT Nifty was trading flat at 24,450 as of 06:30 a.m.
The NSE Nifty 50 and BSE Sensex ended higher for a second day to recover losses it logged in last week. Bank stocks led the recovery in the benchmarks. The Nifty 50 settled 0.52% or 127.7 points higher at 24,466.85, whereas the BSE Sensex gained 0.45% or 363.99 points to close at 80,369.03.
"We expect the markets to remain range bound amid uncertainty with regard to US elections to be held next week. However we could continue to see sector and stock specific action as more companies announce their quarterly earnings," said Siddhartha Khemka, head, research, Wealth Management, Motilal Oswal Financial Services Ltd.
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