Sensex snaps 7-day winning run, ends 50 pts down; IRCTC tanks 9%, ITC 6%

CLOSING BELL

Dalal Street snapped its longest winning streak in nearly 10 months on Tuesday as benchmark indices closed lower for the first time in eight sessions. Profit booking on the back of in-line September quarter results dragged frontline indices from record highs clocked in the intra-day trade today. 

Overall, the headline S&P BSE Sensex ended the session at 61,716 levels, down 49.5 points or 0.08 per cent, dragged by ITC (down over 6 per cent), HUL, Titan, Tata Steel, UltraTech Cement. Gains in Infosys, Reliance Industries, L&T, HDFC Bank, and Tech Mahindra, however, capped downside. The 30-pack index touched an intra-day high (also its record high) and low of 62,245 and 61,594, respectively.

It's NSE counterpart, Nifty50, on the other hand, shut shop with losses of 58 points, or 0.32 per cent, at 18,419 levels. It hit an all-time high of 18,604 in the morning trade.

The market breadth also favoured sellers amid profit-booking in the broader markets. The BSE MidCap and SmallCap indices ended nearly 2 per cent down each, tilting the advance to decline ratio in the favour of the latter by nearly 1:4.

Sectorally, all but the Nifty IT index (up 2.35 per cent) ended in the red, led by the Nifty Realty (down 4.8 per cent), PSB index (3.7 per cent), and FMCG index (3 per cent).

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Markets at 2:30 PM


LIVE market updates: Profit booking in PSU bank, FMCG, and metal stocks dragged the benchmark indices off highs in the afternoon trade on Tuesday. The frontline S&P BSE Sensex was at 61,979 levels, up 214 points, while the Nifty50 quoted at 18,505 levels, up 28 points.

The Nifty FMCG index turned negative, down over 1 per cent, after sector major HUL (Hindustan Unilever) slipped 2 per cent on profit booking post Q2 results. The company  reported an 8.86 per cent year-on-year rise in standalone net profit at Rs 2,187 crore for the second quarter of the financial year 2021 (Q1FY22). Meanwhile, on a quarter-on-quarter (QoQ) basis, the figure grew by 6.11 per cent over Rs 2,061 crore.

Its revenue from operations stood at Rs 12,516 crore during the recently concluded quarter, up 10.99 per cent YoY, as against Rs 11,276 crore in the same period last fiscal. The figure rose by 6.7 per cent sequentially. READ MORE

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Markets at Lunch (01:30 PM):

LIVE market updates:
The BSE Sensex scaled a fresh life-time peak in early noon deals at 62,245, and was up 438 points at 62,204. The Nifty has added 101 points to 18,578.

Infosys, Reliance Industries and Larsen & Tourbo have contributed more than 70 per cent of the gains so far for the BSE index (total around 325 points). HDFC Bank and Tech Mahindra are the other prominent contributors, while ITC alone accounts for a 100 points loss on the BSE benchmark.

The broader markets are trading on a mixed note, with the NSE Midcap 100 index reversing gains. The index had touched a high of 33,244, but was down 0.1 per cent at 32,838. The Nifty Smallcap 100, however, was up 0.7 per cent. Technical charts, indicate further 6 per cent gain for these indices from hereon. READ MORE

Shares of Larsen & Toubro (L&T) group companies were on a roll on Tuesday with three listed companies - L&T, L&T Infotech and L&T Technology Services (LTTS) -- hitting their respective record highs in intra-day trade. Their shares rallied up to 16 per cent today on the back of positive corporate developments. L&T surged 4 per cent to a fresh record high, while L&T Infotech zoomed 16 per cent. READ MORE

Meanwhile, the European markets have started trade on a flat note. All key indices, the FTSE 100, CAC 40 and DAX 30 were more or less unchanged in early trade.  
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Markets at 12 NOON:

LIVE market updates:
The benchmark indices were once again seen consolidating gains after the sudden bout of profit-taking. IT stocks and global cues supported the market up move.

The Sensex was up 365 points at 62,131, and the Nifty had gained 89 points at 18,566. India VIX, the volatiltiy index, was down 1.6 per cent at 16.91.

Tech Mahindra has surged over 4 per cent to Rs 1,540. Infosys too has gained 2 per cent, and the stock touched a fresh life-time high at Rs 1,834. Larsen & Toubro, Bajaj Finserv, Hindustan Unilever, NTPC and HCL Technologies are the other prominent Sensex gainers.

ITC has shed 4.5 per cent on account of profit-taking. Titan, UltraTech Cement and Dr.Reddy's are the other notable losers.

In the broader markets, TTK Prestige zoomed 20 per cent to hit a record high at Rs 10,586 after the company said it plans to consider the proposal of stock split on October 27. READ MORE

Meanwhile, among the the Asian markets, Hang Seng was up 1.3 per cent. Nikkei and Shanghai Composite were up 0.7 per cent each. Taiwan, Straits Times and KOSPI were also up 0.7-1.2 per cent. Australia's S&P/ ASX 200 ended almost unchanged.
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Markets at 11 AM:

LIVE market updates:
The benchmark indices have turned volatile after registering fresh record highs in early morning deals. The Sensex, which, touched a high of 62,202, tumbled to a low 61,594 - down almost 600 points from the day's high, only to bounce back in green. The BSE 30-share index was up 234  points at 62,000.

The NSE Nifty was up 48 points at 18,525.

Among sectors, the BSE IT index surged 2 per cent, and the Capital Goods index was up 1.3 per cent. On the flip side, the Realty index slipped 2 per cent, and the Consumer Durables was down 1.5 per cent.

FMCG major Hindustan Unilever was up 1.6 per cent at Rs 2,697 ahead of its Q2 results later today. CLICK HERE TO READ PREVIEW. Nestle India was also up a per cent at Rs 19,620 ahead of its earnings.

In the broader markets, Indian Energy Exchange (IEX) soared 19 per cent to hit a record high of Rs 956.15 on the BSE in Tuesday�s intra-day trade after the company announced the board will consider a maiden bonus issue proposal in their forthcoming board meeting on Thursday, October 21, 2021. READ MORE
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Markets at 10:10 AM:

LIVE market updates:
The markets reversed course on the account of aggressive profit-taking at record high levels. The Sensex after registering a fresh life-time high at 62,202, plunged into the negative zone to a low of 61,594. The BSE 30-share index was down 57 points at 61,708.

The NSE Nifty declined 27 points at 18,450, after having touched a new summit at 18,604.

ITC was the major dragger, down 4 per cent at Rs 252. Titan, UltraTech Cement, Tata Steel and PowerGrid Corporation were the other prominent losers among the Sensex 30.

However, Larsen & Toubro, Hindustan Unilever, HCL Technoglogies, Tech Mahindra and Nestle India were trading with notable gains.
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Markets at 10 AM:


LIVE market updates: The markets were trading on a firm note in morning trade on Tuesday, with the BSE Sensex up 394 points at 62,159, and the NSE Nifty up 112 points at 18,589.

The broader market was also trading on a firm note, with both the BSE Midcap and Smallcap indices up around 0.8 per cent each. The overall market breadth was also largely positive, with nearly 1,700 advancing shares versus 1,100 declining stocks on the BSE.

Indian Railway Catering and Tourism Corporation (IRCTC) joined the elite club of companies commanding Rs 1-trillion market capitalization (m-cap) on the BSE, after its share price hit a new high of Rs 6,332.25 in the intra-day trade on Tuesday. The shares rallied nearly 8 per cent today and have zoomed 33 per cent in the past five trading days and a whopping 293 per cent in the last six months. READ MORE

L&T Infotech surged 10 per cent to a high of Rs 6,496 on the NSE on the back of 21 per cent YoY growth in Q2FY22 net at Rs 552 crore. Revenue was up 25.6 per cent at Rs 3,767 crore in the same period. READ MORE
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Opening Trades: (Updated at 09:25 AM)

LIVE market updates:
The benchmark indices started the day on a gung-ho note at fresh record high levels on the back of positive global cues and strong Q2 results from India Inc.

The BSE Sensex opened with a positive gap of 390 points at 62,156, and was now quoted at 62,085, up 320 points in early morning deals. The NSE Nifty touched a high of 18,604 in opening deals, and was up 101 points at 18,578.

Among the Sensex 30 stocks, Larsen & Toubro has surged 3 per cent to Rs 1,840. Tech Mahindra, HCL Technologies and Bharti Airtel have rallied 1.5 per cent each. HDFC Bank. TCS and Bajaj Finserve are the other prominent gainers.

On the other hand, ITC has slipped 2 per cent to Rs 257. UltraTech Cement, Titan and PowerGrid Corporation are the other notable losers.

IRCTC has surged nearly 7 per cent to Rs 6,281. The stock hit a fresh all-time high of Rs 6,332, and the company's market cap crossed the Rs 1 trillion mark.

Indian Energy Exchange was locked at the 15 per cent upper circuit at Rs 916 on the BSE on plans to issue bonus shares. The company's board is scheduled to meet on October 21.

TTK Prestige has zoomed over 14 per cent to Rs 10,073. The company�s board is scheuled to meet on October 27 to consider a proposal for sub-division of equity shares.

Elsewhere in Asia, markets traded on a firm note as crude oil prices declined from multi-year highs.  Hong Kong's Hang Seng was trading on a firm note, up 1.4 per cent. Taiwan WEighted index had gained a per cent. Nikkie and KOSPI were up 0.7 per cent each, while China's Shanghai Composite added 0.5 per cent. Australia's S&P/ ASX 200 was up 0.2 per cent.
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(Updated at 09:02 AM)

Pre-open Session:

LIVE market updates:
The BSE Sensex was quoted 394 points higher at 62,160 in pre-open trades on Tuesday. The NSE Nifty 50 was up 72 points at 18,549.

Bharti Airtel, Reliance Industries, Larsen & Toubro and ITC are the prominent gainers, in the pre-pen trading session, while Bajaj Auto and Kotak Bank are the notable losers among the Sensex 30 stocks.
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(Updated at 08:15 AM)

LIVE market updates:
Indian benchmark indices look set to extend their winning run to the eight-day in a row, with the BSE barometer Sensex eyeing the 62,000-mark, riding on the back of strong earnings momentum and firm global cues. At 8:10 AM, SGX Nifty was at 18,565 levels, up 80 points.

Earnings today
Thirty three companies are slated to post the September quarter numbers today, including Hindustan Unilever, Nestle India, 5paisa Capital, ACC, DCM Shriram, Heidelbergcement India, ICICI Prudential Life Insurance Company, L&T Technology Services and Rallis India.

Analysts expect HUL to post low double-digit growth in September quarter revenue between 10 per cent and 15 per cent, while the bottom line may rise by 8-10 per cent on a year-on-year basis. READ PREVIEW HERE

Global cues
Japan�s Topix index and Australia�s S&P/ASX 200 Index added 0.2 per cent each. South Korea�s Kospi index rose 0.5 per cent while Hong Kong�s Hang Seng Index gained 0.4 per cent. In the overnight session, the Dow Jones fell 0.1 per cent but the S&P 500 gained 0.34 per cent and the Nasdaq Composite climbed 0.84 per cent as technology shares rallied.




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