NIFTY Financial News

Domestic benchmark index NSE Nifty ended 260.9 points down at 19281.75, while the BSE Sensex closed 825.74 points down at 64571.88. On the other hand, Macpower CNC Machine, Zodiac Energy, CreditAccess Grameen, BSE and Ipca Labs stocks hit their fresh 52-week highs today.

stood among the top gainers. Parag Milk(down 10.03%), Heritage Foods(down 8.21%), ADF Foods(down 7.53%), Mrs Bectors Food Specialities(down 7.17%), Prataap Snacks(down 5.23%), Sheetal Cool Products(down 5.22%), JHS Svendgaard Laboratories(down 4.97%), Tasty Bite Eatables(down 4.97%), Umang Dairies(down 4.48%) and Jyothy Labs(down 4.48%) were among the top losers of the day.

stock market continue to remain under the grip os bears for fourth straight session during Monday deals. Nifty 50 index opened lower at 19,521 and went on to hit intraday low of 19,404 during Monday deals, losing over 400 points in four straight sessions. BSE Sensex today opened at 65,419 levels and went on to hit intraday low of 65,022 levels, losing over 1400 points in last four sessions.

Adani Enterprises (down 3.14%) and Adani Ports and Special Economic Zone (down 2.34%). According to analysts, Adani Enterprises share price has been consolidating in a range since last few weeks. The stock is now trading around it's crucial support of 2,300.

Amber Enterprises India down over 10%, NBCC (India) falling more than 8% and, IRB, Central Bank of India and SJVN share prices falling over 7% each. Fall in Amber Enterprises shares came after the company’s net loss in Q2FY24 widened to ₹5.6 crore from a loss of ₹2.2 crore a year ago.

CA Rudramurthy BV, Vachana Investments, says “I will be a buyer in ICICI Bank, look at the current market price of around 940 to enter, keep a strict stop loss of around 925 and look for targets of Rs 1,000 on ICICI Bank. My second buy call is on Escort. Yes, this stock has now seen over 5% correction from its higher levels where it was earlier and I will be a buyer in Escorts at current market price or on any slight dip, keep a tight stop loss of around 3,140, look at targets of 3,300 initially and even 3,500 to come on Escorts.” 19,480 was an important mark for the index given it was October lows. That seems to have been breached and we have not seen a lot of buying momentum come back. Given it is the expiry week, do you expect this sort of consolidation to continue? Definitely, yes, some amount of correction and retest of those lows of the September month series on index can definitely be seen and today, we are seeing a continued sell-off in broad-based market, both midcap as well as smallcap indexes seeing more beatings on the downside compared to what we see on the index Nifty as well as Bank Nifty.

Tube Investments of India Ltd. slipped 3.18 per cent to Rs 2929.0 in Monday's trade as of 02:09PM (IST). The stock hit a high price of Rs 3029.5 and low of Rs 2923.3 during the session.

ICICI Prudential Life Insurance Company Ltd. gained 0.1 per cent to Rs 526.55 in Monday's trade. It hit a high of Rs 530.15 and low of Rs 523.0 during the session.

ICICI Bank Ltd.(up 0.57 per cent), Au Small Finance Bank Ltd.(up 0.55 per cent) and HDFC Bank Ltd.(up 0.05 per cent) were among the top gainers. Bank of Baroda(down 1.38 per cent), Federal Bank Ltd.(down 1.37 per cent), Kotak Mahindra Bank Ltd.(down 1.11 per cent), IndusInd Bank Ltd.(down 0.94 per cent) and Punjab National Bank(down 0.89 per cent) were the top losers on the index.

Balkrishna Industries Ltd.(up 0.36 per cent), Mahindra & Mahindra Ltd.(up 0.19 per cent) and TVS Motor Company Ltd.(up 0.07 per cent) were among the top gainers. Tube Investments of India Ltd.(down 2.69 per cent), Sona BLW Precision Forgings Ltd.(down 1.48 per cent), Tata Motors Ltd.(down 1.31 per cent), Hero MotoCorp Ltd.(down 1.03 per cent) and Bajaj Auto Ltd.(down 0.93 per cent) were the top losers on the index.

Cholamandalam Investment & Finance Company Ltd. traded 1.63 per cent down in Monday's trade at 11:26AM (IST). Around 18,843 shares changed hands on the counter.

Religare Broking pointed out that the Nifty has been hovering in the range of 19,300-19,850 for almost a month now and inching lower after retesting the upper band. "We feel fresh weakness in the banking majors combined with the resumption of decline on the global front could push the index lower and 19,200-19,450 would continue to act as a crucial support zone," Mishra said. "Resilience in select heavyweights from auto, FMCG, pharma and realty majors would continue to offer buying opportunities.

ICICI Bank gained over 1% on Monday to hit the day's high of Rs 944.80 on the NSE following strong September quarter earnings. The stock was the top Nifty gainer despite a lacklustre opening trade. The stock also gained on favourable views taken by a couple of top brokerages including Jefferies, Kotak Institutional Equities, Motilal Oswal and Nuvama, all of which recommended a buy on the counter.

Domestic benchmark index NSE Nifty fell 15.5 points to 19527.15, while the BSE Sensex traded 19.27 points down at 65378.35. On the other hand, Macpower CNC Machine, BSE, Zodiac Energy, CreditAccess Grameen and South West Pinnacle stocks hit their fresh 52-week highs today.

Oberoi Realty Ltd.(up 0.07 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 3.92 per cent), Indiabulls Real Estate Ltd.(down 3.91 per cent), Macrotech Developers Ltd.(down 3.11 per cent), Sobha Ltd.(down 2.34 per cent) and Mahindra Lifespace Developers Ltd.(down 1.32 per cent) were the top losers on the index.

The NSE Nifty index traded 64.45 points down at 19478.2, while BSE Sensex was down 181.65 points at 65215.97 as of 10:19AM(IST)on October 23. In the Nifty index, Dr.

“We expect nominal GDP growth of 10% to 11% in the next 12 months, which should be in line with 11% to 13% return for large cap indices,” says Pradeep Gupta, Co-founder & Vice-Chairman, Anand Rathi Group. In an interview with ETMarkets, Gupta said: “Market timing and the selection of specific instruments within an asset class explain only about 10% of portfolio return variability” Edited excerpts: October is turning out to be a roller coaster ride for investors in equity markets. Will geopolitical concerns have a long-term impact on equity markets if things escalate? Major indices across the globe witnessed sharp volatility in the past couple of weeks due to the rising Israel-Palestine war. In the same week, we witnessed the U.S. stock-index futures fall over 0.5%, Nifty was down ~140 bps pts.

Sensex fell 231 points to settle at 65,397 and the Nifty declined 82 points to 19,542. Stocks that were in focus included names like Tanla Platforms, which rose 4%, YES Bank, which gained 1.76%, and Tata Communications, whose shares declined 3.82% on Friday. Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today. Tanla Platforms The counter has witnessed a breakout of a long consolidation on the weekly chart with strong volume. The structure of the counter looks good, as it is trading above all its important moving averages. In terms of potential price levels, immediate resistance is anticipated at Rs 1150.

BSE Sensex closed 231.62 points, or 0.35%, lower at 65,397.62, while the NSE Nifty settled 82.05 points, or 0.42%, lower at 19,542.65. Nifty formed an identical open and close type candle on the daily chart, which is indicating a formation of doji type candle pattern (type of gravestone doji pattern, but not a classical one).

Day trading guide for stock market today: On account of weak global market sentiments, Indian stock market extended sell off for yet another session on Friday last week. Nifty 50 index fell 82 points and closed at 19,542 levels, 30-stock index BSE Sensex corrected 231 points and ended at 65,397 mark whereas Bank Nifty index finished 31 points lower at 43,723 levels.

Global market, including India, will take further cues from geopolitical developments, oil prices and bond yield fluctuations, along with earnings of major companies. “We expect earnings season to pick up pace in a truncated week which would direct the market trend along with global cues. On the global front, ECB (European Central Bank) will announce interest rate decision this week," Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, said.