Stock Market Live Updates: Indian shares fell on Monday, weighed down by a decline in automobile stocks and Asian equities that weakened after a stron
In early trades, the Nifty auto index lost 1.6%. Tata Motors Ltd was the top loser on the Nifty 50 index, falling 4%.
U.S. Federal Reserve officials have showed no intention of backing down from the most aggressive rate hike campaign in decades, emphasising that the inflation fight was ongoing.
Domestically, corporate earnings will be among the drivers for markets in the next few weeks, with IT service provider Tata Consultancy Services on Monday set to kick off earnings season when it reports quarterly results later in the day.
Meanwhile, a Reuters poll found India’s retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India’s (RBI) upper tolerance band for a ninth month.
The data is due after market hours on Wednesday.
Among individual stock moves, IDBI Bank surged 11% after the government said on Friday it was looking to sell a 60.72% stake in the bank and invited expressions of interest.
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Fear of an aggressive rate hike by the Fed on the back of strong employment data in the US, disrupted the global equity trend. Inflation in the US is forecasted to stay high given low supply and high demand scenarios. To bring some parity in the economy, the Fed will have to target to lower demand by increasing the unemployment rate, which is not factored by the market. In addition, rising crude prices and depreciating rupee is increasing the risk of imported inflation in India, affecting the domestic market.
– Vinod Nair, Head of Research at Geojit Financial Services
Rupee falls 4 paise to close at all-time low of 82.34 (provisional) against US dollar
Barring IT, all sectoral indices settle in the red
Closing Bell: Sensex extends losses to 2nd day, ends 200 points lower; Nifty below 17,250; TCS rises 2% ahead of results
Life Insurance Corporation Of India cuts stake in United Nilgiri Tea Estates from 9.632% to 7.613%
Price as on 10 Oct, 2022 03:11 PM, Click on company names for their live prices.
SIP DATA FOR SEPT
#BREAKING | SIP Rs 12,976 cr vs Rs 12,694 cr MoM, SIP above Rs 12k cr for 5th straight month #SIP #investment… https://t.co/nC1h9tvR7R
— ET NOW (@ETNOWlive) 1665393464000
GLOBAL MARKET CHECK
- The Stoxx Europe 600 fell 0.4% as of 8:18 a.m. London time
- Futures on the Nasdaq 100 fell 0.3%
- Futures on the Dow Jones Industrial Average fell 0.2%
- The MSCI Asia Pacific Index fell 1.1%
- The MSCI Emerging Markets Index fell 1.2%
September witnessed few diversified mutual fund NFO which saw participation from investors. Add to it SIP flows and buying on dips by investors lead to net sales flows being higher than previous months.
– Manish Mehta, Head – Sales, Marketing and Digital Business, Kotak Mahindra Asset Management Company
State-owned Bank of Maharashtra (BoM) on Monday raised the marginal cost of funds-based lending rates (MCLR) by 0.20 per cent or 20 basis points across tenors. The revision will make loans linked to MCLR benchmark costlier. The benchmark one-year MCLR will be 7.80 per cent from Monday, as against 7.60 per cent.
Price as on 10 Oct, 2022 02:19 PM, Click on company names for their live prices.
AMFI DATA
#MarketsWithETNOW | AMFI September Data Update: Equity AUM stands at Rs 14.9 lk cr vs Rs 14.6 lk cr MoM #Equity… https://t.co/5tHK43ou2H
— ET NOW (@ETNOWlive) 1665391321000
Global Market Check
- The Stoxx Europe 600 fell 0.4% as of 8:18 a.m. London time
- Futures on the Nasdaq 100 fell 0.3%
- Futures on the Dow Jones Industrial Average fell 0.2%
- The MSCI Asia Pacific Index fell 1.1%
- The MSCI Emerging Markets Index fell 1.2%
Jaiprakash Power Ventures Ltd (JPVL) on Monday said it has decided to sell its cement grinding unit in Nigrie, Madhya Pradesh along with other non-core assets. “The board of directors in its meeting held on October 10, 2022, has decided to divest Nigrie cement grinding unit as well as other non-core assets,” the company said in a BSE filing.
Price as on 10 Oct, 2022 02:09 PM, Click on company names for their live prices.
TCS gains 2% ahead of earnings; here are other key gainers from the IT pack
Price as on 10 Oct, 2022 01:53 PM, Click on company names for their live prices.
CAMS: Co board meet on October 17 for considering of enhancing its equity investment in CAMS Financial Information Services
Price as on 10 Oct, 2022 01:25 PM, Click on company names for their live prices.
Rupee will claw back to 79 if dollar is at 1.03 Euro: Indranil Sengupta of CLSA
#MarketsWithETNOW | Indranil Sengupta of @CLSAInsights says Rupee will claw back to 79 if dollar is at 1.03 Euro… https://t.co/58eNnPSPWg
— ET NOW (@ETNOWlive) 1665379027000
Suzlon Energy said it appointed Vinod Tanti as chairman and managing director
Price as on 10 Oct, 2022 12:49 PM, Click on company names for their live prices.
These stocks trade at 52-week highs
Sensex on road to recovery… Index recovers 500 points from day’s low
Top 5 losers from the NBFC pack
Price as on 10 Oct, 2022 11:59 AM, Click on company names for their live prices.
Gravita India announced that its subsidiary in Senegal, West Africa has started commercial production of aluminium from a new recycling plant. The company is expecting an additional revenue of approx. Rs 60 crore per annum with gross margins of ~ 20% from the new capacity. The group has made investments of approx. Rs 3.50 crore.
Price as on 10 Oct, 2022 11:44 AM, Click on company names for their live prices.
NMDC says lump ore price fixed at Rs 4,100/ton from Oct 8
Price as on 10 Oct, 2022 11:20 AM, Click on company names for their live prices.
Paytm annualised run rate of loan disbursals touches Rs 34,000 cr in Sep
The company had posted an annualised run rate of loan disbursals of about Rs 29,000 crore in August.
“Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now at an annualised run rate of Rs 34,000 crore in the month of September,” the company said in a regulatory filing.
Artson Engineering said it got an order worth Rs 42.76 crore from a subsidiary of Adani Enterprises; stock surges 5%
Price as on 10 Oct, 2022 10:54 AM, Click on company names for their live prices.
Easy Trip approve stock split & bonus issue of shares. The company allows splitting of shares into face value of Re 1 from Rs 2 earlier. It also approved issue of bonus share in 3:1 ratio.
Price as on 10 Oct, 2022 10:40 AM, Click on company names for their live prices.
Ramkrishna Forgings bags export order worth Rs 131.5 crore for North American HCVs application from TIER 1 Rear & Front Axle manufacturer
Price as on 10 Oct, 2022 10:36 AM, Click on company names for their live prices.
Tracxn Technologies IPO kicks off: Here’s what brokerages have to say
The company will not receive any proceeds from the issue and the entire sum will go to the selling shareholders. The company said it intends to gain the benefits of listing the shares on the stock exchanges. Founded in 2013, Tracxn Technologies has an asset-light business model. The company said it has raised Rs 139.22 crore from anchor investors.
The proximity of the 200 day SMA at 16982 lends an opportunity for bulls to regroup. However, it would require a pull back above 17160 to serve as confirmation,in which case, we may get back to 17300 right away andthe return to 18115 trajectory depends on this. Alternate Scenario sees 16400, should we fail to close above 17160.
– Anand James – Chief Market Strategist at Geojit Financial Services
Shreeji Translogistics adds united parcel service as client in Bonded Trucking Division; services to UPS expected to yield annual revenue of about Rs 25-30 million
Price as on 10 Oct, 2022 10:24 AM, Click on company names for their live prices.
Reliance Industries Ltd (RIL) and Reliance Jio are in talks with lenders to raise up to $1.5 billion (about Rs 12,400 crore) and around $2.5 billion (about Rs 20,600 crore), respectively, in foreign loans, said people familiar with the matter.
Price as on 10 Oct, 2022 10:02 AM, Click on company names for their live prices.
One 97 Communications says Q2 merchant payment volumes up 63% YoY
- Loan disbursals at annualised run rate of $4.1 billion in September.
- Total number of devices deployed exceeded $4.8 million in September.
- Paytm super-app average monthly transacting users at $79.7 million for Sept-quarter, up 39% Y/Y.
- 63% Y/Y Increase in merchant payment volumes for Sept-quarter at $39 billion.
A Rs 12,000 crore IPO fest’s coming to Dalal Street
A flurry of primary share issues is set to hit the market in the next one month with over a dozen companies gearing up to raise nearly Rs 12,000 crore through initial public offerings, according to bankers.
RBI sells dollars as rupee hits record low on U.S. rate hike woes
Source: Reuters
The government said on Friday it is looking to sell a 60.72% stake in $5.6 billion IDBI Bank and has invited expressions of interest.
Price as on 10 Oct, 2022 09:41 AM, Click on company names for their live prices.
MARKET VIEW: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Q2 results starting today with TCS would influence IT stock movements. The management commentary would be more important than the results.
Since the dollar index and US bond yields are rising again, FIIs may continue to sell. This will provide opportunities for long-term investors to buy high quality stocks, particularly in financials.
Jaiprakash Associates to divest cement business; Adani Group front runner to acquire cement assets
Price as on 10 Oct, 2022 09:20 AM, Click on company names for their live prices.
OPENING BELL: Sensex tanks 700 points, Nifty nears 17,100; IDBI Bank surges 10%, Asian Paints falls 2%
What’s driving rupee lower?
“The double whammy of higher U.S. rates and higher crude prices is back to haunt the rupee,” said IFA Global Research Academy. “While the RBI was able to defend the rupee successfully through the last round of simultaneous stress on current and capital account by spending it’s reserves, this time around things are likely to be different.”
FOREX WACTH | Rupee opens at a record low of 82.64 against US Dollar
#MarketsWithETNOW | Rupee opens at a record low of 82.64 against US Dollar #RupeeVsDollar #USDINR https://t.co/afuBYBJTcG
— ET NOW (@ETNOWlive) 1665372962000
Pre-open session: Sensex slumps over 650 points; Nifty below 17,090
JP Morgan on Tata Motors
#BrokerageRadar | JP Morgan on @TataMotors: Downgrade to Neutral from Overweight; Zero net debt target could get pu… https://t.co/9pO7nJGvEu
— ET NOW (@ETNOWlive) 1665367398000
Stocks slip in Asia, brace for CPI and earnings
Stocks slipped in Asia on Monday after a surprise drop in U.S. unemployment quashed any thought of a pivot on policy tightening ahead of a reading on inflation which is expected to see core prices move higher again.
SGX Nifty signals a gap-down start
Nifty futures on the Singapore Exchange traded 283 points, or 1.63 per cent, lower at 17,031, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty forms long bull candle on weekly charts
As Nifty ended the week 1.29% higher on Friday, a long bull candle with upper and lower shadow was formed on the weekly scale. Analysts said this could be a confirmation of the bullish hammer pattern formed in the last week.
Wall Street ends sharply lower as jobs report cements rate hike regime
Wall Street fell sharply on Friday following a solid jobs report for September that increased the likelihood the Federal Reserve will barrel ahead with an interest rate hiking campaign many investors fear will push the U.S. economy into a recession.
Oil jumps 4% to 5-week high lifted by OPEC+ output cut
Oil prices jumped about 4% to a five-week high on Friday, lifted again by an OPEC+ decision this week to make its largest supply cut since 2020 despite concern about a possible recession and rising interest rates.
Rupee slides to all-time low of 82.30 against dollar
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.
Sensex, Nifty on Friday
The 30-share Sensex fell 31 points to end at 58,191. Its broader peer, Nifty50, ended at 17,314, down 17 points.
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