NIFTY Financial News

Benchmark NSE Nifty index rose 98.05 points to 19534.15 amid buying in frontline bluechip stocks. However, stocks such as Navin Fluorine, Shree Ram Proteins, Winsome Yarns, McNally Bharat and The Grob Tea Company, touched their fresh 52-week low.

Zomato Ltd. gained 3.17 per cent to Rs 103.95 in Thursday's trade. It hit a high of Rs 105.2 and low of Rs 102.4 during the session.

20 Microns(up 3.33%), Ashapura Minechem(up 2.71%), Orissa Minerals Development Company(up 2.63%), Gujarat Mineral Dvpt Corporation(up 2.37%), Lexus Granito(up 2.06%), Madhav Marbles and Granites(up 1.36%), KIOCL(up 1.35%), Pokarna(up 1.27%), MOIL(up 1.09%) and NMDC Ltd(up 0.82%) were among the top gainers. Coal India(down 0.54%) were among the top losers.

Dr. Reddy's Laboratories Ltd.(up 0.79 per cent), Zydus Lifesciences Ltd.(up 0.67 per cent), Pfizer Ltd.(up 0.64 per cent), Alkem Laboratories Ltd.(up 0.59 per cent) and Abbott India Ltd.(up 0.43 per cent) were among the top gainers.

Also Read: 5 things that changed for the stock market overnight - Gift Nifty to easing crude oil prices “Technically, this pattern indicates a formation of doji or hammer type candle pattern. Normally, formation of such patterns after a reasonable decline or at the key supports alert for a comeback bulls from the lower levels, after the confirmation.

Radhika Gupta, MD & CEO of Edelweiss Mutual Fund. She further adds, that we have always been careful when launching NFOs and try to align with market conditions that are good for investors and can deliver value to them.

Sensex went lower by 286 to settle at 65,226, while the Nifty declined 92 points to end at 19,436. Stocks that were in focus included names like Nestle India, which rose 3.03%, Maruti, which fell 1.96%, and Coal India, whose shares declined 1.34% on Wednesday. Here's what Avdhut Bagkar, Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today. Nestle India — Buy Following a recent breakout of the “Double Bottom” pattern, the underlying momentum, which was already gearing for positive bias, has accelerated the upside voyage. The stock is on the edge of hitting a new historic peak, and stability over 23,200 would elicit the start of the next upward wave. The current trend, accompanied by surging volumes, remains ascending with the support of 2,300 and a convincing move over 23,200 shall eye a rally to the 25,000- level. Maruti Suzuki India — Avoid The automobile giant has breached immediate trend line support of 10,275, slipping in the direction of 9,955, its 50-SMA. The next crucial support falls at the 9,500-level, which could hold the current decline.

Buy or sell stocks for today: Following weak global cues, Indian stock market went down for second straight session. Nifty 50 index went down 92 points and closed at 19,436 levels, BSE Sensex corrected 286 points and ended at 65,226 whereas Bank Nifty index lost 435 points and finished at 43,964 levels.

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Nifty 50 closing below 19,500 level. investors will now focus on the Reserve Bank of India (RBI) monetary policy decision to be announced on Friday and the upcoming corporate earnings season. “We expect weakness to persist in the market in the coming weeks till the headwinds recede.

global markets, as the continued surge in the US benchmark 10-year bonds to a 17-year high resulted in risk-off sentiment intensifying. Foreign portfolio investors dumped shares worth ₹4,424 crore during the day, with bank and auto stocks facing the biggest brunt of the selloff. The Sensex dropped 286 points, or 0.4%, to close at 65,226.

Bank stocks were among the top losers in Wednesday's trading sessions as foreign funds continued their selling spree of Indian equities. Traders were also cautious ahead of the Reserve Bank of India's monetary policy outcome on Friday. The Nifty Bank index fell almost 1%, the Nifty PSU Bank Index dropped 2.8%, while the benchmark Nifty ended 0.4% lower. «While RBI is expected to hold rates, the global factors like the rising bond yields and higher interest rates have led to negativity in the banking space,» said Andrew Holland, CEO-Avendus Capital Alternate Strategies.

The Nifty 50 fell 0.47% and ended below the 19,450 level, while the S&P BSE Sensex declined 0.44% to 65,226. Eleven of the 13 major sectoral indices logged losses, with index heavyweight banks falling 0.98%.

₹1,769.49 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹9,848.55 crore of Indian equities, while they sold ₹14,272.57 crore --- resulting in an outflow of ₹4,424.02 crore on Wednesday. Meanwhile, DIIs infused ₹10,050.08 crore and offloaded ₹8,280.59 crore, registering an inflow of ₹1,769.49 crore.

The NSE Nifty index ended the session 92.65 points down at 19436.1, while BSE Sensex fell 286.06 points to 65226.04. In the Nifty index, Adani Enterprises Ltd.(up 3.25 per cent), Nestle India Ltd.(up 3.01 per cent), Hindustan Unilever Ltd.(up 1.58 per cent), Eicher Motors Ltd.(up 1.48 per cent) and HDFC Bank Ltd.(up 1.43 per cent) stood among the top gainers.

Shares of HDFC Bank Ltd.(up 1.42 per cent) and Bandhan Bank Ltd.(up 0.01 per cent) ended the day as top gainers in the pack. On the other hand, Axis Bank Ltd.(down 4.37 per cent), Punjab National Bank(down 4.14 per cent), State Bank of India(down 2.76 per cent), IDFC First Bank Ltd.(down 2.54 per cent) and Bank of Baroda(down 2.5 per cent) finished as the top losers of the day.

Nifty 50 today: Frontline indices the Nifty 50 and the Sensex ended in the red on Wednesday, October 4, extending losses into the second consecutive session, amid a sharp rise in the US bond yields and dollar. Bond markets are witnessing a strong selloff globally, causing yields to rise sharply. "An unrelenting selloff in world government bond markets pushed US 30-year Treasury yields to 5 per cent for the first time since 2007 and Germany's 10-year borrowing costs to 3 per cent on Wednesday, moves that could hasten a global economic slowdown," reported Reuters.

IDFC First Bank fell over 3% to the day's low of Rs 91.30 in Wednesday's trade on the NSE following the approval of the floor price for its upcoming Qualified Institutional Placement (QIP) issue. The company's Capital Raise and Corporate Restructuring Committee authorised opening of the issue in the Board meeting held on Tuesday. The floor price has been set at Rs 94.95 per equity share. A meeting of the committee of the bank will be held on October 6, 2023, to consider and determine the issue price of equity shares and discount, if any. The price action in IDFC Bank shares was accompanied by significant volumes as more than 3.41 crore shares changed hands on the NSE around 1:40 p.m.

₹4.79 trillion over the scheme's lifespan (spanning at least five years). Amidst all these, diligent efforts have been undertaken to elevate the skill set of India's workforce to cater to the manufacturing sector's needs, particularly in high-tech and advanced industries. Thematic mutual funds with a manufacturing focus primarily invest in companies engaged in manufacturing goods and products.

Tata Power Company Ltd. slipped 3.2 per cent to Rs 255.5 in Wednesday's trade as of 01:39PM (IST). It hit a high of Rs 263.25 and low of Rs 253.6 during the session.

Zee Entertainment Enterprises Ltd. traded 2.86 per cent down at Rs 255.85 on Wednesday at around 01:29PM (IST), while the benchmark BSE Sensex declined 584.94 points to 64927.16. As many as 126,021 shares changed hands on the counter with a total value of Rs 3.26 crore.