Sensex leaps 1,181 pts, Nifty holds 18350 amid global rally; HDFC duo up 6%

CLOSING BELL: Barring minor downtick in the Nifty Auto, FMCG, and PSU Bank indices, all other sectoral indices advanced on the bourses. The Nifty IT index led from the front with around 4% surge

10:06 AM

ALERT :: Nifty Bank crosses 42,000-mark for the first time ever

9:58 AM

COMMENT :: 'New record for the Nifty is only a question of when'

It was well known that the crucial US inflation numbers for October will sway the market either up or down depending on the trajectory of inflation. Now that the inflation print - both CPI and core- has come below expectations, the direction of the markets is a foregone conclusion.

Since the CPI and core print indicate moderation of inflation, it is probable that the Fed might pause after one more hike of 50 bp. This is good news for global equity markets.

 

Since dollar is weakening, FIIs are likely to increase their buying, and with Monthly SIP figure crossing Rs13000 crores, DIIs will have to deploy the inflows. In brief, it is Advantage Bulls for the near-term. New record for the Nifty is only a question of when.

Views by: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:48 AM

New Listing Alert :: DCX Systems likely to list at Rs 286 vs issue price of Rs 207

9:45 AM

ALERT :: Sensex hits highest level of 2022

9:44 AM

Large Trade :: 2.96% equity of PB Fintech, worth Rs 503 cr, changes hands

9:41 AM

JSW Steel in focus :: Crude steel production grows 25% YoY in October; stock up 1%

9:39 AM

BSE MidCap index trims gains weighed by Indian Hotels, Trent, Muthoot Finance

9:37 AM

Nasdaq's 7% overnight rally takes Nifty IT 4% higher ; Coforge, Persistent Systems lead

9:36 AM

Q2 result impact :: Indian Hotels erases gains, drops 2%

The company recorded consolidated profit at Rs 121.6 crore for Q2FY23, against loss of Rs 120.6 crore, in the year-ago period. EBITDA, meanwhile, increased 304 per cent YoY to Rs 294 crore in Q2FY23, whereas margins expanded 1,390 bps to 23.9 percent in the recently concluded quarter

9:34 AM

Q2 result impact :: Bata India falls 2% as MD cites demand concerns in 'mass categories'

The footwear company reported 37.7 per cent YoY rise in standalone profit to Rs 51.1 crore in Q2FY23, on strong operating performance and top line. Revenue during the quarter also increased 35 per cent YoY to Rs 830 crore, whereas EBITDA rose 35.1 per cent YoY to Rs 160.9 crore in the recently concluded quarter. 

However, MD and CEO Gunjan Shah also added that in the mass categories, there has been sluggishness due to the inflationary pressure.

9:32 AM

Q2 result impact :: Adani Green Energy rises 2% on 49% YoY growth in profit

The company registered 49 percent YoY increase in consolidated profit to Rs 149 crore for Q2FY23, led by lower cost of materials sold and finance cost. Revenue from operations, too, increased 19.5 percent YoY to Rs 1,686 crore. Margins, however, dropped 550 basis points (bps) YoY to 57.3 percent in Q2. 

9:30 AM

Q2 result impact :: Zomato surges 12% as loss narrows

 The food delivery giant’s net loss narrowed to Rs 251 crore in Q2FY23 from loss of Rs 430 crore in Q2FY22, buoyed by strong top line and operating performance. Revenue from operations climbed 62 per cent YoY to Rs 1,661 in Q2FY23, whereas EBITDA loss narrowed to Rs 311 crore in Q2FY23 from loss of Rs 536 crore, in the year-ago period.

9:29 AM

Q2 result impact :: Eicher Motor drops 3% in a firm market

The automaker recorded 76 per cent year-on-year (YoY) growth in profit to Rs 657 crore for Q2FY23, backed by strong operating and top line performance. Revenue from operations, too, surged 56.4 per cent YoY to Rs 3,519 crore and EBITDA was up 75 per cent YoY to Rs 821.4 crore in Q2FY23. 

9:26 AM

Bulls in charge :: Sensex climbs nearly 1,000 pts

9:23 AM

Sectoral trends :: All indices advance in trade; Nifty IT zooms over 3%