Sensex snaps 4-day losing streak, ends 145 pts up; broader indices decline

Stock market LIVE: The Bank Nifty ended 2 per cent higher at fresh record highs, while the broader indices - both BSE Mdicap and Smallcap declined around 1.7 per cent each

Closing Bell

The broader markets traded on a weak note for yet anothe day, with selling evident in IT, realty, auto and FMCG shares. However, the key benchmark indices managed to end with marginal gains, thanks to ICICI Bank.

The BSE benchmark index, opened nearly 600-points higher at 61,400-odd levels on the back of early gains in Reliance Industries and ICICI Bank owing to strong Q2 performance. The BSE index, however, soon wiped out gains and slipped into the negative zone as weakess emerged in IT and select index heavyweights.

The BSE index after touching a low of 60,450, bounced back into the positive zone as ICICI Bank and select banking shares extended gains. The Sensex finally snapped its 4-day losing streak and ended 145 points higher at 60,967.

The NSE Nifty dipped below the 18,000-mark in intrday trades to touch a low of 17,969, but evenutally settled at 18,125, up 10 points. India VIX was up 0.4 per cent at 17.61.

The Bank Nifty scaled a fresh all-time high at 41,830, and ended 2.2 per cent higher at 41,192. Among other sectors, the NSE Realty index dropped 2.8 per cent, and the Auto index slipped 1.8 per cent. The FMCG and IT indices were down around a per cent each.

Among the Sensex 30 stocks, ICICI Bank zoomed 11.6 per cent to Rs 847 after reporting highest-ever Q2 net profit. The stock alone contributed 549 points to the BSE Sensex and was largely responsible for today's positive close.

Axis Bank was the other major gainer, up 3.5 per cent at Rs 846 a day ahead of its Q2 numbers.

On the flip side, Bajaj Finsev slipped over 3 per cent to Rs 18,069, and Bajaj Auto shed 2.7 per cent at Rs 3,760. Maruti, HCL Technologies and Asian Paints were the other major losers, down over 2 per cent each.

Reliance after testing a high of Rs 2,699, ended a per cent lower at Rs 2,602 despite strong Q2 numbers.

The overall breadth was also fairly negative, with 2,312 declining stocks versus 1,047 advancing shares on the BSE.
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Markets at 02:30 PM

LIVE market updates: The key benchmark indices have erased most of their gains on the back of weakness in select IT and financial shares.

The BSE Sensex was up 130 points at 60,952, and the NSE Nifty was up 12 points at 18,127. India VIX was up 2.8 per cent at 18.04.

Bajaj Finserve has slipped over 3 per cent to Rs 18,084. Asian Paints, Bajaj Auto, HCL Technologies, Maruti, HDFC Bank and IndusInd Bank were the other major losers. ICICI Bank, however, continues to trade on a firm note, up 11 per cent.

Broader markets also extended losses, the BSE Midcap and the Smallcap indices were down 1.6 per cent each.
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Markets at Lunch (01:30 PM)

LIVE market updates: The markets have firmed up in trades as banking shares extend gains. The BSE Sensex was up 230 points at 61,052, and the NSE Nifty was up 35 points at 18,150.

ICICI Bank continues to remain the top gainer, up 12 per cent at Rs 851. The stock alone has contributed 576 points to the BSE Sensex.

Axis Bank has gained 4.7 per cent a day ahead of its Q2 results. SBI trades at fresh life-time high, up 2 per cent.

On the flip side, Asian Paints, HCL Technologies, Bajaj Finserve, Bajaj Auto and Maruti Suzuki were down over 2 per cent each.

Meanwhile, the European markets have started trade on a quiet note. The FTSE 100 was up 0.3 per cent and the DAX 30 up 0.1 per cent. The CAC 40, however, was down 0.1 per cent.
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Markets at 12 NOON

LIVE market updates: The markets have firmed up in trades as banking shares extend gains. The BSE Sensex was up 290 points at 61,112, and the NSE Nifty was up 45 points at 18,160.

The broader markets, however, continue to trade on a weak note. The BSE Midcap and Smallcap indices were down around 1.5 per cent each. The breadth too was fairly negative, with 2,193 declining stocks as against 985 advancing shares on the BSE.

In the broader markets, IRCTC has slumped 10.5 per cnet. CoForge, Apollo Pipes, Zensar Technologies, Suven Life and Sasken Communications are some of the other major losers.

Tatva Chintan has zoomed over 17 per cent to Rs 2,488.90 on the BSE in Monday’s intraday trade after the company reported a robust set of numbers for the quarter ended September 2021 (Q2FY22), on back of higher revenue. READ MORE

Elsewhere in Asia, Nikkei declined 0.6 per cent. Straits Times was down 0.1 per cent, while Hang Seng was flat. On the other hand, Kospi gained 0.6 per cent. Shanghai Composite was up 0.4 per cent, and the S&P/ASX200 added 0.3 per cent.
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Markets at 11 AM

LIVE market updates: The markets have recouped losses led fresh buying in select index heavyweights at lower levels and continued buying support in banking shares. ICICI Bank has now soared 11 per cent to Rs 841.

The BSE Sensex, which, touched a low of 60,450, was up 32 points at 60,854. The NSE Nifty was down 21 points at 18,094. The Bank Nifty has hit a fresh life-time high at 41,284, and was up 1.9 per cent at 41,089.

Barring the banking index all sectoral indices are in red. The BSE Realty index has plunged nearly 3 per cent, and the IT index has shed 2 per cent. The Auto and FMCG indices were down a per cent each.

The overall market breadth was fairly negative, with 2,251 declining stocks versus 854 advancing shares on the BSE.
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Markets at 10 AM

LIVE market updates: Erasing morning gains, domestic equities cracked on the bourses dragged by all but the banking stocks. The benchmark S&P BSE Sensex was quoting 346 points lower at 60,475 levels at 10:00 AM, while the Nifty50 index slipped below the 18,000-mark at 17,981, down over 100 points.

26 of the 30 constituents on the Sensex and 45 of the 50 constituents on the Nifty were trading in the red, led by Tata Motors (down 3.5 per cent), Divis Labs, Bajaj Auto, Asian Paints, Shree Cement, Eicher Motors, Adani Ports, and Maruti Suzuki.

The only gainers on the 50-share index were ICICI Bank (up 8 per cent), Axis Bank, ONGC, M&M, and NTPC.

Shares of ICICI Bank surged 9 per cent to hit a new record high of Rs 827 on the BSE in Monday's intra-day trade after the private sector lender on Saturday reported a 30 per cent year-on-year (YoY) jump in net profit in the July-September quarter (Q2FY22), aided by robust net interest income (NII) and other income as well as lower provisions.  READ MORE

In the broader markets, the Nifty MidCap100 index was down 2.5 per cent while the Nifty SmallCap100 was down over 3 per cent. Volatility index, India VIX, on the other hand rose over 6 per cent.  

In the currency market, the rupee opened weaker at 74.98 per US dollar compared with Friday's close of 74.89/$

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Opening Bell (Updated at 9:20 AM)

LIVE market updates: Index heavyweights Reliance Industries and ICICI Bank failed to keep benchmark indices in the positive territory even as both the companies posted a strong September quarter earnings' show.

The Mukesh Ambani-controlled RIL leaped nearly 1 per cent while ICICI Bank jumped over 8 per cent in intra-day deals. However, the BSE barometer of 30 shares was down 15 points at 60,806 levels. The broader Nifty50, on the other hand, slipped below 18,100.

FMCG, IT, Metal, Pharma, and Realty sectors were trading in the negative territory, exerting pressure on the indices. Among individual stocks, Asian Paints (down over 2.5 per cent), Divis Labs, IndusInd Bank, Bajaj Auto, HCL Tech, Shree Cement, Maruti Suzuki, and Titan were the top laggards on the Nifty50.

The Nifty Bank index, however, was ruling over a per cent higher at 40,755, after hitting a record high of 41,024 earlier today.

In the broader markets, the BSE MidCap and SmallCap indices declined up to 0.65 per cent. 

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Pre-open session (Updated at 9:07 AM):

LIVE market updates: Benchmark indices could clock a firm start on the bourses on Monday, if pre-open trades are anything to go by. The frontline S&P BSE Sensex settled over 577 points higher at 61,399 levels in pre-open session while the Nifty50 closed at 18,229, up 115 points.

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(Updated at 8:10 AM)

LIVE market updates: After last week's bear hammering, market bulls may try to make a comeback on Dalal Street on Monday. At 8:00 AM, SGX Nifty was up 11 points at 18,155 level, indicating a flat to positive start for the markets.

Stocks in focus / Earnings today
Ceat, Colgate Palmolive, Coforge, GMDC, Dwarikesh Sugar, HDFC AMC, ICRA, Ramco Cement, SRF, Suven Life Sciences, Swaraj Engines and Tech Mahindra are some of the prominent companies scheduled to announce September quarter numbers.

Global cues

On Friday, US markets ended on a mixed note, with the S&P 500 and Nasdaq down 0.1 per cent and 0.8 per cent, while Dow Jones ended 0.2 per cent higher at record levels.

In Asia, Nikkei was down 0.6 per cent, China’s Shanghai Composite had slipped 0.3 per cent and Taiwan Weighted index had declined 0.2 per cent. Whereas, the S&P/ASX 200 had gained 0.6 per cent, while Kospi and Straits Times were flat

Oil market
Oil extended its weekly winning streak, with Brent up for the seventh straight week at $85.53 a barrel, and WTI Crude up for the ninth week in a row at $83.76 a barrel. In Monday's early trade, Brent crude was up 0.75 per cent at $86.17 per barrel.