Sensex vaults 767pts, Nifty ends above 18,100; IT, financial stocks shine

In the primary market, Latent View Analytics IPO witnessed frenzied demand, and was subscribed over 305 times with strong demand from non-institutional investors

Closing Bell

The markets snapped its 3-day losing streak with strong gains led in IT shares and select index heavyweights. The BSE benchmark index, the Sensex, opened 330-odd points higher at 60,248, and after consolidating in the morning session, the index began its upward journey. The BSE index scaled a high of 60,751, and finally ended with a solid gain of 767 points at 60,687.

The NSE Nifty surged to a high of 18,123, and eventually settled with a gain of 229 points at 18,103. For the week, the 50-share index was up a per cent (186 points).

Tech Mahindra was the major gainer among the Sensex 30 stocks, up 4 per cent at Rs 1,583. Index heavyweights, HDFC, Infosys, Bharti Airtel and Reliance Industries gained 2 to 3 per cent, each. Bajaj Finsev, Asian Paints, Bajaj Finance, Sun Pharma , Larsen & Toubro and Nestle India were the other major gainers.

On the other hand, Bajaj Auto skid 3 per cent to Rs 3,640. Tata Steel slipped a per cent to Rs 1,286 despite reporting 8-fold jump in Q2 net profit.

Market Dashboard: Snapshot of key movers and shakers in trade today

The broader markets under-performed the benchmark indices by a wide margin. The BSE Midcap index was up 0.6 per cent and the Smallcap index added 0.3 per cent, while the Sensex had rallied 1.3 per cent.

Among sectors, the BSE IT index surged 2 per cent. Telecom, Realty and Power indices were up around 1.5 per cent each, while Energy and Capital Goods indices too moved 1.3 per cent higher.

Among individual stocks, FSN E-Commerce Ventures (Nykaa) entered the list of top-50 most valued companies in terms of market captialisation in the country after the stock surged 8.8 per cent to a high of Rs 2,410. The stock eventually ended at Rs 2,330, and has zoomed 107 per cent from its issue price of Rs 1,125 per share. READ MORE

Zomato and Devyani International scaled new highs after the Global Index provider MSCI added the former to its MSCI Global Standard India Index and the latter to its MSCI India Domestic Small Cap Index. Zomata ended 8.7 per cent higher at Rs 153, and Devyani International soared 9.3 per cent to Rs 160. READ MORE

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Debutant Fino Payments Bank had a dis-appointing start. The stock swung in a wide range of Rs 511 to Rs 583, and finally ended at a 0.5 per cent discount to its issue price at Rs 548.

In the primary market, Latent View Analytics IPO witnessed frenzied demand, mainly from non-institutional investors, and the issue was subscribed over 305 times. Wealth investors (non-institutional investors) quota was subscribed 802 times, while retail and QIB quota was subscribed 115 times and 113 time, respectively, as of 03:30 PM.
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Markets at 02:30 PM

LIVE market updates: The key benchmark indices have extended gains in late noon deals as buying spread across the sectors. The BSE Sensex was up 714 points at 60,634, and the NSE Nifty had gained 214 points at 18,088.

Infosys, HDFC and Reliance Industries were contributing almost 50 per cent (350 points) of the gains for the BSE Sensex.

Among sectors, the BSE IT and Telecom indices had jumped 1.7 per cent each. The Capital Goods and Energy indices were up 1.3 per cent each. All sectoral indices were in postive zone.

Meanwhile, the European markets seemed jittery at the start of trade. The FTSE 100 had slipped 0.3 per cent, and the DAX 30 was down 0.1 per cent. CAC 40 was flat.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices have firmed up in mid-noon deals on the renewed buying interest in IT stocks and select heavweights like HDFC, Bharti Airtel and Reliance Industries.

The BSE Sensex was up 520 points at 60,440, and it's counterpart NSE Nifty had reclaimed the 18,000-mark, and was up 157 points at 18,031.

Tech Mahindra was the top gainer among the Sensex 30 stocks, up 3.7 per cent at Rs 1,580. Infosys and HDFC rallied over 2 per cent each. On the flip side, Bajaj Auto slipped 3 per cent to Rs 3,637.

The broader markets were under-performing the benchmark indices. The BSE Midcap index was up 0.4 per cent, and the Smallcap index was up 0.2 per cent.

Zomato and Devyani scaled new highs surging 9 per cent and 15 per cent, respectively, after the Global Index provider MSCI added the former to its MSCI Global Standard India Index and the latter to its MSCI India Domestic Small Cap Index. READ MORE

Elsewhere in Asia, the markets ended mostly in green. Kospi and Japan's Nikkei surged 1.5 per cent adn 1.1 per cent, respectively. Hang Seng and Taiwan added 0.4 per cent, each. Shanghai Composite was up 0.2 per cent.

In the primary market, Latent View Analytics IPO continued to receive robust response. As of 1:15 PM, the issue was subscribed 123.2 times, with huge demand from non-institutional investors - 355.6x and retail investors - 95.5x.
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Markets at noon

LIVE market updates: Frontline indices resumed their uptrend and were back near the day's high trajectory in noon deals. The BSE Sensex was up 278 points at 60,192 while the Nifty50 was at 17,966 levels, up 92 points.

The overall market breadth is mildly favouring sellers amid negative sentiment in the broader markets. 

Sectorally, Media and PSB indices were down 0.7 per cent each while the IT index was up over 1 per cent.

On the results front, Motherson Sumi reported a decline in net profit and revenue for Q2FY22. The former came in at Rs 217 crore while the latter was at Rs 10,076 crore. Ebitda, too, was down to Rs 942 crore. Consequently, the shares fell over 3 per cent.

In another development, Paytm has fixed an offer price of Rs 2,150 apiece for its initial share-sale. Shares are expected to be listed on November 18. READ MORE

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Markets at 11 AM

LIVE market updates: Profit booking in the public sector bank stocks dragged indices off the day's high in late morning deals. The BSE Sensex index was testing the 60,000-level, up 160 points, while the Nifty50 was below 17,950 level.

At the broader market level, the BSE MidCap and SmallCap indices are in the red, falling up to 0.2 per cent.

Individually, shares of Fino Payments Bank extended their decline and were down 12 per cent to Rs 510 apiece, relative to the issue price.

Shares of InterGlobe Aviation (IndiGo) surged 6 per cent to Rs 2,268 on the BSE in Friday’s intra-day trade after nearly 1 per cent of total equity of the aviation company changed hands on the counter. READ MORE

Sectorally, auto shares were mildly in the red. According to SIAM data for October, passenger vehicle sales stood at 2.26 lakh units, and motorcycle sales stood at 10.2 lakh units.

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Markets at 10 AM

LIVE market updates: Benchmark indices are holding on to their morning gains and are trading 0.5 per cent higher. The BSE Sensex was at 60,246 levels, up 326 points, while the Nifty50 quoted at 17,979 at 10:05 AM.

The broader markets, however, are underperforming the benchmarks with, both, mid and smallcap indices on the BSE trading 0.2 per cent up.

Clocking a tepid show, however, were shares of Fino Payments Bank that listed on the bourses at a 6 per cent discount. They debuted at Rs 544 apiece on the National Stock Exchange, down 5.6 per cent, against the issue price of Rs 577 per share. 

On the results front, shares of Indiabulls Housing Finance were down 4 per cent on the BSE after the company reported an 11 per cent dip in its net profit at Rs 286 crore in the quarter ended September due to a decline in its loan book

Sectorally, Auto, Media, and PSB indices have erased their gains and are now down 0.2 per cent.

In the currency market, rupee opened at 74.38 per US dollar relative to Thursday's close of 74.51/$.

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Opening Bell

LIVE market updates: Equity markets clocked a gap-up start on the bourses on Friday amid across-the-board buying. Besides, firm Asian cues also supported the sentiment on the Street.

The S&P BSE Sensex was up 362 points, or 0.6 per cent, in early deals at 60,281.5 levels while the Nifty50 quoted at 17,973-mark, up 100 points.

Among individual stocks, Tata Steel added around 2 per cent after the Tata Group company reported 8-fold jump in consolidated net profit at Rs 11,918 crore in the September quarter. 

Sun Pharma, Kotak Bank, Nestle India, Tech M, Infosys, and HDFC were the other top gainers on the Sensex.

Meanwhile, in the broader market, the BSE MidCap and SmallCap indices added up to 0.65 per cent.

Herein, the stock of Zee Entertainment Enterprises advanced 1.6 per cent after it reported 187 per cent YoY rise in consolidated net profit at Rs 270 crore for the quarter ending September 30, 2021.

Sectorally, all the Nifty indices were trading in the positive zone led by Metal index (up 0.8 per cent), and IT, PSB, and Realty indices (up 0.5 per cent each).

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Pre-open session

LIVE market updates: After 3 days of bear hammering, market bulls are back on Dalal Street. The BSE Sensex is at 60,247 levels, up 327 points in the pre-open session while the Nifty50 was up 104 points at 17,977.

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Updated at 8:20 AM

LIVE market updates: The Indian equities look set to snap their 3-day losing streak if indications by SGX Nifty are anything to go by. At 8:17 AM, the index was at 17,973 levels, up 47 points.

This comes amid positive cues from Asian peers. Nikkei and Hang Seng were up 0.9 per cent and 0.7 per cent, respectively. Kospi had surged 1.3 per cent, while Taiwan and Straits Times added 0.3 per cent and 0.2 per cent each. China’s Shanghai Composite, however, was flat.

Overnight, however, the US markets had ended on a mixed note. The S&P 500 and Nasdaq moved up 0.1 per cent and 0.5 per cent, respectively. Dow Jones, however, was down 0.4 per cent.

Back home, the industrial and manufacturing production data along with inflation numbers could dictate the market trend on Friday.

Earnings to watch

Amaraja Batteries, Apollo Hospitals, Ashok Leyland, Bajaj Electricals, Bharat Forge, Coal India, Coffee Day, Deepak Fertilisers, Finolex Cables, Fortis Healthcare, Glenmark Pharma, GMR Infra, Grasim, Hero MotoCorp, Hindalco, Vodafone Idea, JP Associates, National Aluminium, ONGC, Reliance Capital, SpiceJet, Suzlon and Thomas Cook are some of the prominent companies scheduled to report earnings today.

Analysts expect Vodafone Idea to report a sequential growth in ARPU (average revenue per user). The quarterly performance, however, could be marred by subscriber churn, they say. READ PREVIEW HERE

Primary Market Update

Latent View Analytics was subscribed 23x at the end of Day 2 of the issue, with the retail quota getting subscribed 70x. Meanwhile, Sapphire Foods IPO closed with a total subscription of 6.6x.