Sensex slips 391 pts, Nifty holds 17K ahead of US CPI data; Wipro cracks 7%

CLOSING BELL: The NSE Nifty 50 swung wildly in a range of 17,112 to 16,957 as the weekly F&O expiry was in focus. The index finally settled with a loss of 107 points at 17,017 .

CLOSING BELL: The key benchmark indices exhibited high amount of volatility in trades on Thursday, with the NSE Nifty's 17,000-mark in focus on the weekly futures & options expiry day. 

The S&P BSE Sensex opened 100-odd points lower following a steep rise in India's retail inflation to 7.41 per cent in September, which in turn prompted fears of another 50 basis points rate hike by the RBI. Here's what analysts have to say. READ MORE

The BSE benchmark languished in the negative zone for the entire day and touched a low at 57,056. The Sensex finally ended 391 points lower at 57,235. Going ahead, the focus will now be on the US CPI data and Infosys Q2 earnings to be released later today.

The NSE Nifty 50 swung wildly in a range of 17,112 to 16,957, before eventually settling with a loss of 107 points at 17,017.

The broader markets also declined in tandem with the benchmark indices. The BSE Midcap index was down 0.6 per cent, and the Smallcap index shed 0.4 per cent.

Among the Sensex 30 stocks, Wipro was the major loser, down nearly 7 per cent at Rs 380. The stock also hit a fresh 52-week low in trades today after the IT major cut down its Q3 revenue guidance. READ MORE

SBI, Larsen & Toubro, ICICI Bank, Asian Paints and Bajaj Finance were the other major losers. On the positive front, HCL Technologies was the top performer after the company upped its FY23 revenue guidance. READ MORE

Also read: Contra bets in HCL Tech and Wipro could give up to 20% gains; Here's why 

Among sectoral indices, the BSE Bankex and Capital Goods were the major losers, down over a per cent each. The Power and Realty indices too shed a per cent each. However, the Healthcare and Metal indices managed to end with notional gains.

Among other individual shares, Maharashtra Seamless soared almost 10 per cent in intra-day deals after the company said, its board will consider a stock split and bonus issue proposal on Monday, October 17. READ MORE

The overall market breadth was fairly negative, with more than 2,100 declining stocks as against 1,300-odd advancing shares on the BSE.

 

4:13 PM

TECH VIEW :: Nifty may remain within a band over the short term

Nifty remained volatile as the investors stayed on the sidelines ahead of US inflation data. The Nifty breached the psychological 17000 multiple times before closing above it in the final hour. The index has found support at 200DMA for the third consecutive day. The daily RSI is in a bullish crossover. Over the short term, the index may remain within a band. On the lower end, 16950 may act as support; whereas, 17300 may act as resistance on the higher end.

Views by: Rupak De, Senior Technical Analyst at LKP Securities

4:10 PM

Infosys Q2 :: FY23 revenue guidance is revised to 15%-16%; operating margin guidance revised to 21%-22%

4:08 PM

Infosys Q2 :: Operating margins comes in at 21.5%, revenue up 19% YoY

4:05 PM

INFOSYS BUYBACK :: Co to buyback shares worth Rs 9,300 crore

>> The Board approved a proposal for the Company to buyback its own fully paid-up equity shares of face value of ₹ 5/- each
>> For an amount, payable in cash, aggregating up to Rs 9,300 crore

>> For a price not exceeding Rs 1,850 per share through the open market route

 

4:03 PM

MARKET COMMENT :: Retail inflation persisting above desired levels a major concern for Indian economy

Retail inflation persisting above the desired levels has been a major cause of concern for the Indian economy. This, coupled with declining industrial production in August may not be taken well by the market because Indian economy is anticipated to sustain its resilience. In this backdrop, the impending US inflation figures, which are forecasted to remain high, may cause volatility in the global market.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

 

4:01 PM

Global markets :: US stock futures trade higher ahead of inflation data

4:00 PM

Global markets :: European stocks mixed

>> European markets were mixed on Thursday morning as investors around the world prepare themselves for the latest US inflation data.

Source: CNBC

3:58 PM

Currency Check :: Rupee closes weaker at 82.35/$

>> This is lower than Wednesday's close of 82.31 per USD

Source: Bloomberg

3:58 PM

Bond Market :: Yields on 10-year G-Sec fall marginally

3:55 PM

BSE Stats :: Advance-Decline ratio negative at 1:2

3:54 PM

Top BSE Gainers at Closing Bell

3:54 PM

Top BSE Losers at Closing Bell

3:53 PM

Buzzing stock :: Atul Auto extends rally, surges over 20% in 4 days

3:51 PM

Buzzing stock :: Rama Steel Tubes freezes at 10% upper circuit on warrant issue to Shankar Sharma

3:50 PM

Buzzing stock :: RITES jumps 10.6% on Rs 499-cr order win