Sensex ends 580 pts lower amid weak global cues, Nifty settles at 12,772

All that happened in the markets today

1:28 PM

BROKERAGE VIEW | Emkay Global Financial Services on Wipro

RATING: HOLD | TARGET PRICE: Rs 360 

We prefer to wait to see any signs of sustainable operating performance improvement before taking any constructive view on the stock, particularly as in the past, the company went through multiple restructurings but failed to solve client mining and revenue leakage issues. We maintain Hold on the stock with a TP of Rs 360 at 18x Sept’22E earnings. 

1:13 PM

BSE Utilities up over 2.5%

1:03 PM

BUZZING STOCK | BEL surges over 9%

12:53 PM

Q&A :: We continue to prefer medium-to-long end bonds, says Saurabh Bhatia, DSP Inv Mgr

Over the past few months bond markets have been trading in a relatively narrow range. Shorter end of the yield curve has immensely benefited courtesy sustenance of the liquidity surplus. Super surplus liquidity coupled with held to maturity (HTM)-enabled Targeted Long-Term Repo Operations (TLTRO) has enabled the credit spreads to remain compressed, especially in the shorter-end of the curve. READ MORE

12:42 PM

Sensex Heatmap at this hour

12:29 PM

Bollinger Band shows 37 mid, small-cap stocks may surge over 25%

One of the momentum indicators used in technical analysis of stocks is Bollinger Band. Bollinger Band (BB) helps to ascertain the volatility with the support of standard deviation.

 

Herein, the upper band defines the higher range that a stock can deviate from the mean and vice versa. Besides ascertaining the price range and volatility, Bollinger Band also reflects the breakout in the form of “Expansion” and “Contraction” formation. READ MORE

12:18 PM

Titan gains 4%, nears 52-wk high on healthy business in the festive season

"The jewellery business witnessed a mid-teens growth (around 15 per cent) for the 30-day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded jewellery sales," Titan said in the business update.

 

The watches and wearables business also did quite well in the festive season with recovery close to last year's levels. Eyewear business has also witnessed good traction, it said. READ MORE

12:04 PM

Tata Chemicals rallies 9%, hits record high in a range-bound market

Shares of Tata Chemicals hit a record high of Rs 357, up 9 per cent on the BSE in the intra-day trade on Thursday in an otherwise range-bound market. The stock of the Tata Group commodity chemicals company surpassed its previous high of Rs 345.80, touched on August 25, 2020. In comparison, the S&P BSE Sensex was down 0.05 per cent at 44,159 points. The counter has seen huge activities with trading volumes surging more than four-fold today. A combined 7.16 million shares had changed hands on the counter on the NSE and BSE till 11:33 am. READ MORE 

 

11:54 AM

MARKET CHECK

11:43 AM

BROKERAGE VIEW | HDFC Securities on Ahluwalia Contracts

RATING: BUY | TARGET PRICE: Rs 382 

Gross debt increased marginally to Rs 440mn from Rs 430mnQoQ. With cash balance at Rs 2.2bn, AHLU remains a net cash company. We have tweaked our FY21/FY22 estimates and maintain BUY on AHLU with a slightly increased target price of Rs 382 (13x Sep-22E EPS), given its robust order book, strong balance sheet, and better RoE/RoCE than peers.

11:33 AM

BROKERAGE VIEW | Prabhudas Lilladher on Wipro

RATING: BUY | TARGET PRICE: Rs 415 

New CEO believes in sustainable margin led growth driven by structural margin levers and pricing power derived from investing in next gen capabilities. We value Wipro on Sep-22 earnings of 20X to arrive at unchanged TP of INR 415. Wipro is currently trading at 17.5X/15.9X for FY22/23E earnings of Rs 19.8/21.7 respectively with EPS CAGR of ~14% for FY21-23 respectively. Maintain Buy.

11:23 AM

Top gainers on the BSE at this hour

11:09 AM

Nifty Realty index surges nearly 3%; DLF, Prestige Estates advance 5% each

Shares of real estate companies were in focus with the Nifty Realty index gaining nearly 3 per cent on the National Stock Exchange (NSE) on Thursday on the expectation of revival of the real estate sector. DLF and Prestige Estates Projects rallied 5 per cent each and Godrej Properties gained 4 per cent, while Sobha, Indiabulls Real Estate and Brigade Enterprises were up in the range of 2 per cent to 3 per cent on the NSE. READ MORE 

11:03 AM

TECH VIEW | Here's why pivot points are a must for any profitable trading model

Pivot points are the price levels that help traders determine directional movement and potential support/resistance levels of a stock/index. These are calculated considering the open, high, low, and close of the previous sessions. Market participants consider pivot levels as turning points, besides looking at support and resistance. READ MORE 

10:59 AM

NEWS ALERT :: Moody's increases India FY22 GDP growth forecast to 10.8%

>> Recent fiscal package positive for India's growth

>> Medium-term growth could remain around 6%