NIFTY Financial News

Shares of Prestige Estates Projects Ltd.(up 2.59 per cent), Brigade Enterprises Ltd.(up 0.5 per cent) and DLF Ltd.(up 0.03 per cent) ended the day as top gainers in the pack. On the other hand, Indiabulls Real Estate Ltd.(down 3.26 per cent), Godrej Properties Ltd.(down 1.85 per cent), Phoenix Mills Ltd.(down 1.49 per cent), Sobha Ltd.(down 1.16 per cent) and Oberoi Realty Ltd.(down 1.12 per cent) finished as the top losers of the day.

Domestic benchmark index NSE Nifty ended 140.4 points down at 19671.1, while the BSE Sensex closed 551.07 points down at 65877.02. On the other hand, GKW Ltd, Cinevista Ltd, Signet Ind, IIFL Securities and Sastasundar Ventures stocks hit their fresh 52-week highs today.

Shares of Tata Motors Ltd.(up 1.95 per cent), Maruti Suzuki India Ltd.(up 0.35 per cent) and Tube Investments of India Ltd.(up 0.07 per cent) ended the day as top gainers in the pack. On the other hand, Bharat Forge Ltd.(down 1.34 per cent), Balkrishna Industries Ltd.(down 1.11 per cent), MRF Ltd.(down 1.09 per cent), Bosch Ltd.(down 1.05 per cent) and Samvardhana Motherson International Ltd.(down 0.97 per cent) finished as the top losers of the day.

Nifty 50 today: The domestic market witnessed significant selling pressure on Wednesday, October 18, which made the benchmarks the Sensex and the Nifty 50 conclude the day in negative territory. This downturn could be attributed to growing concerns about an escalation of the Israel-Hamas conflict. Concerns are growing that the ongoing Israel-Hamas conflict may escalate into a larger regional crisis, potentially involving other nations.

Sensex on Wednesday plunged 550 points. Besides HDFC Bank, the downfall in Bajaj twins and RIL also contributed to the fall. Nagging concerns about elevated oil prices and US interest rates as well as the Middle East conflict weighed on sentiments. The 30-share BSE benchmark Sensex declined or 0.83% to end at 65,877. The broader NSE Nifty dropped 0.7% to settle at 19,671. High-weightage financials lost 1.3%.

Shares of Cipla Ltd.(up 3.16 per cent), Dr. Reddy's Laboratories Ltd.(up 2.4 per cent), Sun Pharmaceutical Industries Ltd.(up 1.46 per cent), Gland Pharma Ltd.(up 1.05 per cent) and Natco Pharma Ltd.(up 0.67 per cent) ended the day as top gainers in the pack.

Bajaj Consumer(up 3.91%), Vadilal Industries(up 2.46%), Euro India Fresh Foods(up 1.61%), ADF Foods(up 1.33%), Mrs Bectors Food Specialities(up 0.95%), Marico(up 0.65%), Hatsun Agro Product Ltd(up 0.63%), Emami(up 0.58%), Patanjali Foods(up 0.40%) and Godrej Consumer Products(up 0.23%) stood among the top gainers. Dangee Dums(down 4.61%), Jyothy Labs(down 3.43%), Nakoda Group(down 2.50%), JHS Svendgaard Laboratories(down 2.16%), TATA CONSUMER PRODUCTS(down 1.34%), Dabur India(down 1.16%), Heritage Foods(down 1.00%), Umang Dairies(down 0.91%), Bikaji Foods International(down 0.88%) and Adani Wilmar(down 0.86%) were among the top losers of the day.

Rohit Srivastava, Founder & Market Strategist, Indiacharts.com, says he would take a slightly contrary stance and move to the metal side. It is not a sector that everybody likes too much but the metal index has kept coming under pressure because of what has been happening in the dollar and rates but the Indian metal stocks have done much better during this phase despite low commodity prices and that is a positive sign. If we are at the fag end of the rally in the dollar, then it is time for commodity prices to pick up again and the metals pack to start outperforming significantly. I would move into the metal sector.” What is your own assessment? Do you think the dips will be bought into or do you see the slide continuing? It is a slightly tricky situation. We are going to be watching these key levels that I should probably put out. On Bank Nifty, we are going to watch around 43,780 and on the Nifty, around 19,640. If these levels break, then there is a chance that we continue to slip into the red and see the slide continue. But if these levels hold, then the continuation should be on the upside and well, Bank Nifty has actually not moved up much, so in that sense Bank Nifty is coming back to this particular zone almost the third or fourth time since August.

Varun Beverages Ltd. fell 0.95 per cent to Rs 920.7 in Wednesday's trade as of 01:49PM (IST) even as the benchmark Nifty ruled at 19702.0, down 109.5 points. The scrip had closed at Rs 929.55 in the previous session.

Colgate-Palmolive (India) Ltd. traded 0.34 per cent down in Wednesday's trade at 01:19PM (IST). Around 2,483 shares changed hands on the counter.

Bharat Electronics Ltd. slipped 1.33 per cent to Rs 136.65 in Wednesday's trade. It hit a high of Rs 138.95 and low of Rs 136.45 during the session.

Tube Investments of India Ltd. gained 0.21 per cent to Rs 2999.85 in Wednesday's trade as of 12:48PM (IST). The stock hit a high price of Rs 3005.8 and low of Rs 2963.0 during the session.

HDFC Bank is better placed through its granular branch expansion and faster customer acquisition compared to ICICI Bank which will ensure diversified and deeply penetrated growth with the sticky customer base. It likes both large private sector banks and has maintained ADD ratings on them. For HDFC Bank, the brokerage has a target price of ₹2000, implying a potential upside of almost 30 percent while for ICICI Bank, it has a target of ₹1,060, indicating an 11 percent upside.

‘Know how to diversify your portfolio with US bonds’. My point of view is different, which is why I felt the need to write this edition of Contramoney on the subject. My goal is to lay out the facts as I understand them to be, and then leave it to you, dear reader, to decide what you want to do with your money.

Vedanta Ltd. gained 0.71 per cent to Rs 231.6 in Wednesday's trade as of 10:25AM (IST). The stock hit a high price of Rs 232.45 and low of Rs 230.0 during the session.

Punjab National Bank(up 1.38 per cent), IDFC First Bank Ltd.(up 0.76 per cent), Bandhan Bank Ltd.(up 0.68 per cent), Federal Bank Ltd.(up 0.53 per cent) and Au Small Finance Bank Ltd.(up 0.43 per cent) were among the top gainers. ICICI Bank Ltd.(down 0.56 per cent) and HDFC Bank Ltd.(down 0.47 per cent) were the top losers on the index.

The NSE Nifty index was trading 19.45 points up at 19830.95, while BSE Sensex was up 5.03 points at 66433.12 at the time of writing this report. In the Nifty index, Cipla Ltd.(up 3.43 per cent), Dr.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Analysts expect the rupee to stay in a narrow range as traders may take cues from retail sales and industrial production data from the US. Data on the US crude weekly inventory, China's GDP, industrial production, UK and European region inflation are also awaited.

“Gold is an integral part of portfolios due to its lower returns correlation to other asset classes including equities. Tactically too, in our model portfolios, we are reducing the allocation to mid and small caps while rebalancing gold,” says Roopali Prabhu, Head of Products & Solutions, Sanctum Wealth. In an interview with ETMarkets, Prabhu said: “If the risk intensifies in financial markets or geopolitical context, we will probably add some gold to our portfolios” Edited excerpts: Indian market seems to be consolidating after hitting a high in September largely on account of global factors. What is your take? Since the beginning of this US rate hike cycle last year, markets constantly believed that the Fed would not hike as much as they were projecting and instead would cut earlier. However, the Fed followed through on its commentary until the recent hawkish pause. The mixed data coming from the US is now being interpreted as resilience and markets finally are realigning their rate cut expectations closer to those of the Fed.

Sensex closed 261.16 points higher at 66,428.09, while the Nifty 50 gained 79.75 points to end at 19,811.50. Nifty 50 formed a small negative candle on the daily chart with gap up opening and with small lower shadow. This market action indicates a gradual upside momentum in the market amidst a range movement.

Indian markets are likely to open lower on Wednesd... moreIndian markets are likely to open lower on Wednesday following caution in global peers amid escalating geopolitical conflict.