Fag-end buying in IT, banks lifts Sensex 831 pts at 60,138, Nifty at 17,930

Topics MARKET LIVE | Q2 results | IRCTC

The markets reversed its 3-day losing streak led by renewed buying interest in IT and select financial shares. The BSE Sensex reclaimed the 60,000-mark, and surged to a high of 60,220, before settling with a gain of 831 points at 60,138.

The NSE Nifty touched a high of 17,954, and ended 258 points higher at 17,930. India VIX was down 1.4 per cent at 17.18.

The broader markets also logged strong gains. The BSE Midcap index surged 1.8 per cent, while the Smallcap index moved up 1.1 per cent. Among sectors, the BSE Realty index soared 3.7 per cent, while the Telecom and Metal indices surged around 3.5 per cent each. The IT index was up 2.3 per cent, and the Bankex jumped 1.8 per cent.

Market Dashboard: Snapshot of key movers and shakers in trade today

The overall market breadth was also fairly positive, with 2,171 advancing shares versus 1,137 declining stocks on the BSE.

Among the Sensex 30 pack, InduInd Bank zoomed 7.5 per cent to Rs 1,225. Bharti Airtel finished with a solid gain of 4 per cent a day ahead of its Q2 results. HCL Technologies, Tata Steel, Tech Mahindra , Dr.Reddy's, SBI, Kotak Bank and TCS were the other major gainers.

Private home finance major HDFC ended with a gain of 1.7 per cent at Rs 2,893, while the company reported 31.7 per cent jump in Q2 net at Rs 3,780.5 crore for the quarter ended September 2021 as against Rs 2,870.1 crore in a year ago period.

Bajaj Finserv and Mahindra & Mahindra were the prominent losers, down around 1.5 per cent each.

In the broader markets SAIL surged 9 per cent to Rs 125 on the back of record quarterly profit.

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Meanwhile, Nykaa IPO was subscribed 33.75x on the last day of subscription today. Fino Payments Bank was subscribed 40 per cent a day ahead of its closure.

Among the IPOs that opened today, Sigachi was subscribed 4.39x, PB Fintech (Policy Bazaar) was subscribed 19 per cent and S J S Enterprises received 8 per cent susbcription as per data from NSE website at 15:30 hrs.


Markets at 02:30 PM

LIVE market updates:
The key benchmark indices scaled to fresh day's high on the back of renewed buying interest following the recent correction. The BSE Sensex has reclaimed the 60,000-mark, and was up 829 points at 60,136. The NSE Nifty has rallied 259 points to 17,931.

IndusInd Bank was up nearly 8 per cent at Rs 1,228. Bharti Airtel had surged nearly 4 per cent to Rs 712 a day ahead of its Q2 results tomorrw. The Sunil Mittal-led company is expected to post an impressive sequential growth in net profit for July-September quarter (Q2FY22) on the back of steady subscriber base and tariff hike in select pre- and post-paid plans, say analysts. READ MORE

Tata Steel, HCL Technoglogies, Dr.Reddy's, Tech Mahindra and Kotak Bank were the other major gainers, while Bjaj Finserv was the sole stock among Sensex 30 to decline over a per cent.

Among sectors, the BSE Realty index despite paring substantial gains, was still the top gainer, up 3 per cent at 4,107, as against the day's high of 4,192. Sobha Developers, Oberoi Realty, Godrej Properties and Indiabulls Realestate were the major gainers, up 4-7 per cent each on hopes of positive outlook for the sector. READ MORE

In the broader markets, RPG Life Sciences, KP Energy, Precision Wires, Alkali Metals and LG Balakrishnan had zoomed over 10 per cent each. Minda Corp, JKumar Infraprojects, Nirlon and SAIL were the other major gainers.

On the flip side, Chemfab Alkalies, SH Kelkar & Company, Alphageo (India), Rossari Biotech, Manappuram Finance, Tarapur Transformers and Amber Enterprises were the prominent losers.


Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices have once again firmed-up on the back of fresh buying in select IT and financial stocks. The BSE Sensex was up 407 points at 59,714, and the NSE Nifty had added 145 points to 17,817.

IndusInd Bank had rallied over 7 per cent to Rs 1,223 and was the top performed in the Sensex-30 space. Bharti Airtel, HCL Technologies, Dr.Reddy's, Tata Steel, UltraTech Cement and Tech Mahindra had gained 2-3 per cent each.

Whereas, Bajaj Finserv and Mahindra & Mahindra had declined 2.5 per cent each. Hindustan Unilver, Reliance Industries and ICICI Bank were the other notable losers.

The broader indices are also trading continue to trade with a posiFrontline indices are exhibiting a range-bound movement amid across-the-board buying. Further, healthy global cues, and a pick-up in manufcturing activity back home has given ammunition to the market buls on Monday.

Elsewhere in Asia, Japan's Nikkei surged 2.6 per cent to a one-month high after exit polls indicated that Prime Minister Fumio Kishida's Liberal Democratic Party may have fared better than expected. Straits Times and the S&P/ASX 200 were up around 0.7 per cent each. The Taiwan Weighted index advanced 0.5 per cent, while the Kospi added 0.3 per cent. On the flip side, Hang Seng was down a per cent, and Shanghai Composite also ended wee bit in red, down 0.1 per cent.


Markets at 12:30 PM

LIVE market updates: Frontline indices are exhibiting a range-bound movement amid across-the-board buying. Further, healthy global cues, and a pick-up in manufcturing activity back home has given ammunition to the market bulls on Dalal Street on Monday.

At 12:15 PM, the BSE Sensex was at 59,648 levels, up 341 points, while the Nifty50 was at 17,792 level, up 120 points. While this was about 0.56 per cent and 0.7 per cent gain, respectively, for the benchmarks, the broader BSE MidCap and SmallCap indices were up 1 per cent and 0.7 per cent, respectively.

Among individual stocks, shares of Ashok Leyland rose 2 per cent after the company reported 13 per cent growth in domestic sales for October. READ HERE

Those of Maruti Suzuki, on the other hand, came off highs after the company's total October sales declined from 1.8 lakh units last year to 1.3 lakh units this year. READ HERE

Meanwhile, in the primary market, Sigachi Industries' IPO sailed through on Day 1 with over 3.5x subscription; SJS Enterprises (19 per cent); Policybazaar (20 per cent); Fino Payments Bank (72 per cent); Nykaa (11x).

Asian market close: Japan's Nikkei ended 2.6 per cent higher today while South Korea's Kospi and Australia's ASX200 gained 0.3 per cent and 0.6 per cent, respectively.


Markets at 11 AM

LIVE market updates: Profit booking in select index heavyweights such as Bajaj twins, Reliance Industries, and HUL is keeping index gains in check. The BSE Sensex index is now up 185 points at 59,492 levels while the Nifty50 is at 17,741, up 70 points.

All except the Nifty Financial Services index are trading in the green with the Realty and Metal indices up 3 per cent each.

In the primary market, the IPO of Nykaa has been subscribed 5.7x so far on the last day of the issue while that of Fino Payments Bank has been subscribed 64 per cent on Day 2. 

That apart, the IPO of Policybazaar, which opened today, has been subscribed about 6 per cent.

In other news, India Manufacturing Purchasing Managers’ Index (PMI) was in expansion territory, at 55.9 in October,for the fourth month in a row. Moreover, rising from 53.7 in September, the latest figure pointed to the strongest improvement in overall operating conditions since February. 


Markets at 10 AM

LIVE market updates: After a firm start on the bourses, frontline indices have turned volatile but are staying in the positive territory. From the opening peak of 59,830, the BSE Sensex slipped to a low of 59,419 before gaining ground yet again. At 10:10 AM, the BSE barometer was at 59,569, up 262 points, or 044 per cent. 

The NSE Nifty, meanwhile, fell to a low of 17,697 before recovering to 17,759, up 88 points.

The BSE SmallCap index was outeperforming the benchmarks with a gain of 1 per cent while the BSE MidCap index was trading in-line with them.

Sectorally, shares of telecom service providers gained up to 7 per cent on the BSE in Monday’s intra-day trade after RJio launched the much awaited JioPhone Next. Jio Platforms, a majority-owned subsidiary of Reliance Industries (RIL). Following the announcement, the stock of RIL was down 1 per cent at Rs 2,515 on the BSE in today’s intra-day trade, after hitting a high of Rs 2,555 in opening trade today. Among the other telecom stocks, Bharti Airtel gained 5 per cent at Rs 722.60 on the BSE. READ MORE


Opening Bell

LIVE market updates: Supportive global cues, marginal ease in crude oil prices, and the on-going earnings season led to a positive start on Dalal Street on Monday. Besides, low level buying after last week's profit-booking resulted in a bounce-back rally.

In early deals, the BSE Sensex was at 59,821 levels, up 514 points or 0.87 per cent, led by Bharti Airtel (up 3 per cent), Axis Bank, Titan, Tech M, and Tata Steel. The Nifty50, on the other hand, was at 17,815 levels, up 144 points.

In the broader markets, meanwhile, the BSE MidCap and SmallCap indices were up 0.89 per cent and 0.92 per cent, respectively.

Sectorally, the Nifty Realty index was up 3 per cent, followed by the Nifty Metal index (up 1.4 per cent). On the downside, the Nifty Auto index was down 0.5 per cent.

Among individual stocks, shares of SAIL surged 10 per cent after Q2FY22 net jumped multi-fold to Rs 5,795 crore as against Rs 660.20 crore in Q2FY21. Revenue also soared 58.5 per cent to Rs 26,828 crore from Rs 16,925 crore.

Vedanta, on the other hand, rose nearly 3 per cent as the company posted 5-fold YoY jump in consolidated net profit at Rs 4,615 crore for the July-September quarter, as against Rs 838 crore on a low-base effect.

On the contrary, shares of Bandhan Bank fell over 4 per cent after the lender reported a loss of Rs 3,008.6 crore in Q2FY22 on huge provisions of over Rs 4,600 crore for the bad loans and restructured advances.

October Auto Sales: Bajaj Auto reported a 14 per cent YoY decline in monthly auto sales, dragged by weakness in domestic sales. READ HERE

Escorts, on the other hand, posted just 1 per cent YoY dip in October sales. READ HERE

Pre-open session (updated at 9:07 AM)

LIVE market updates:
Markets were trading on a firm footing in the pre-open session on Monday. The BSE Sensex was up 247 points at 59,554 levels at 9:07 AM while the Nifty50 was at 17,779 level, up 107 points.


LIVE market updates:
The benchmark indices may look to bounce back as indicated by the SGX Nifty. At 08:00 AM, the November futures quoted at 17,784 as against a close of 17,715 on the NSE on Friday.

Earnings today
IRCTC, HDFC, Tata Motors, Aditya Birla Capital, Bajaj Consumer Care, Chambal Fertilisers, SCI and Sun Pharma Advanced Research are some of the major companies scheduled to announce September quarter numbers today. 

Primary Market action
Policybazaar's (PB Fintech Ltd) Rs 5,709.72-crore IPO will open for subscription today in the price band of Rs 940 to Rs 980 per share.

The other two IPOs to open for subscription today are - Sigachi IPO and SJS Enterprises IPO. The former is priced in the range of Rs 161 to Rs 163, while the latter is priced in the range of Rs 531 to R s542.

Meanwhile, Nykaa IPO, which closes for subscription today, was subscribed 4.82x at the end of Day 2. Fino Payments Bank IPO was subscribed 51 per cent at the end of Day 1, with retail quota the highest at 2.73x.

Global cues
The US markets ended modestly higher on Friday. Dow Jones advanced 0.7 per cent. The S&P 500 index was up 0.2 per cent, while the Dow Jones and Nasdaq advanced 0.3 per cent each. T

This morning in Asia, Nikkei had rallied 2 per cent, and Shanghai Composite was up 0.8 per cent. The S&P/ASX200 Kospi, Straits Times and Taiwan Weighted indices were also up 0.6 per cent each. The Hang Seng, however, was down 0.4 per cent.

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