Markets end marginally up on Friday; Sensex, Nifty down 1% in Samvat 2078

The BSE MidCap index fell about 4 per cent in Samvat 2078, while the BSE SmallCap index added 0.4 per cent

CLOSING BELL

Stock market highlights: A range-bound traded ended on a flat note on Friday as weak global cues amid escalating crisis in Ukraine weighed on investor sentiment. The S&P BSE Sesex, which hit a high of 59,591 in intra-day trade, settled at 59,307, up 104 points or 0.18 per cent. 

The Nifty50, meanwhile, closed at 17,576, up 12 points or 0.07 per cent, after hitting a high of 17,670 during the day.

The gains in benchmark indices were led by Axis Bank (up 9.5 per cent), HUL, ICICI Bank, Kotak Bank, SBI Life, and Apollo Hospitals. On the downside, Bajaj Finserv (down 3.4 per cent), Bajaj Finance, Divis Labs, Adan Ports, UPL, Asian Paints, and L&T capped upside. 

In the broader markets, the BSE MidCap and SmallCap indices dipped 0.75 per cent and 0.6 per cent, respectively. Sectorally, The Nifty PSU Bank and Private Bank indices gained the most, up 1.8 per cent and 1.6 per cent, respectively, while the Nifty Pharma index fell 0.8 per cent.

Rewind Samvat 2078; Outlook for 2079

Rising inflation triggered by geopolitical tensions amid the Ukraine-Russia war and ensuing global central bank action to tighten the monetary policy hit equities in Samvat 2078. Indian equities, however, proved to be resilient, bolstered by healthy retail and HNI participation, expanding systematic investment plans (SIPs), and lump-sum inflows which helped offset the large outflows from foreign portfolio investors (FPIs).

Overall, the benchmark S&P BSE Sensex and the Nifty50 dipped 0.7 per cent in Samvat 2078, while the BSE MidCap index fell about 4 per cent. The BSE SmallCap index, meanwhile, added 0.1 per cent. 

As we enter Samvat 2079, analysts expect markets to remain under pressure and witness more volatility in the near-term on account of deterioration in global macros, and uncertainties prevailing in western economies. READ MORE

4:19 PM

Muhurat Trading session will be on Monday, October 24

The markets will welcome Samvat 2079, with a special Muhurat Trading session on Monday October 24, 2022. The markets will be open for normal trading from 06:15 PM to 07:15 PM in the evening. To know what are the factors that are likely guide stock market in Samvat 2079. READ HERE

4:05 PM

COMMENT:: Rise in credit growth to 10-year high boosted financial shares

"Selling emerged in the second half led by a weak start to the European market due to the fear of tight monetary policy. Domestic investors maintained their caution and began to book profits in anticipation of the truncated week. Good start to Q2FY23 results by Banks, IT, and FMCG stocks maintained stability in the market but Mid & Small caps were heavily impacted. The rise in credit growth to a 10 year high of 17.94% YoY in October added colour to financial stocks."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:01 PM

Axis Bank soars 9% on the back of strong Q2 performance

The stock hit a record high at Rs 905 in trades on Friday. Analysts see up to 37 per cent upside on sustained earnings growth. READ MORE 

3:58 PM

HUL rallies 2% ahead of Q2 nos; Revenue seen climbing 21% YoY

HUL Q2 preview: FMCG giant Hindustan Unilever (HUL) is expected to clock revenue growth in the range of 11-21 per cent year-on-year (YoY) at Rs 15,396 crore in the July-September 2022 quarter (Q2FY23), buoyed by home care and personal segment, said analysts. The company is due to report Q2-FY23 numbers on Friday, October 21. READ MORE

3:57 PM

ICICI Bank gains 2% ahead of Q2 results; analysts expect 35% rise in net

ICICI Bank Q2 preview: Better credit growth, including for mortgages and unsecured loans, should drive up margins, leading to healthy core profitability, analysts said. READ MORE 

3:55 PM

LIC, PB Fintech, Delhivery sunk to all-time lows on Friday

Shares of Life Insurance Corporation of India (LIC), PB Fintech and Delhivery have continued their southward journey, as shares hit their respective all-time lows in Friday's trade. READ MORE

3:54 PM

IEX sheds 4.4%, hits 52-week low on disappointing September quarter results

Shares of Indian Energy Exchange (IEX) hit a 52-week low of Rs 134 as they declined 5 per cent on the BSE amid heavy volumes. The company reported 11 per cent year-on-year (YoY) fall in total revenue at Rs 113.80 crore in the September quarter (Q2FY23), while its profit after tax contracted 8 per cent YoY to Rs 71.20 crore. READ MORE

3:51 PM

ITC slips into red after hitting new high on solid Q2 show; analysts see up to 16% upside

ITC hit a record high at Rs 254 on the BSE. The stock, hwoever, slipped into red later in the day owing to profit-taking at the counter. Analysts believe ITC would continue to grow in its core business of Cigarettes and FMCG with stable taxation & softening of raw material prices. READ MORE

3:48 PM

Market Breadth marginally negative; 116 stocks hit new 52-week high

3:46 PM

Nifty Media declines 2%; Saregama, Sun Tv plunge

3:44 PM

Nifty Bank surges 1.7% led by private banks

3:42 PM

Broader indices end marginally in red on Friday

3:40 PM

Nifty 50:: Bajaj twins major losers followed by Divi's Labs, Adani Ports

3:39 PM

Nifty 50:: Axis Bank top gainer, up over 9%; ICICI, Kotak also shine

3:37 PM

Sensex 30 Heatmap:: Axis Bank soars 9%; Bajaj twins slip around 3%