Sensex rises 203 pts, Nifty ends near 17,800; Maruti zooms 5%, RIL 3%

Stock market wrap: Reliance alone contributed 231 points to the 30-share benchmark. Maruti, M&M and NTPC were the other major gainers. The Metal and IT sector witnessed selling pressure.

12:16 PM

Sensex 30 Heatmap:: 21 Gainers v/s 9 Losers at noon

12:06 PM

Market Check:: Sensex off day's high, up 120-odd points now

11:57 AM

Narayana Hrudayalaya hits record high on healthy outlook; stock surges 9%

"The momentum is likely to be driven by sequential in-patient volume and, thus, higher In-patient conversion. One important lever could be incremental elective surgeries, due to continuum of pentup demand, post Covid led complications and higher international patients mix," analysts at ICICI Securities said. READ MORE

11:45 AM

PEs add spice firms to shelf, invest Rs 5,000 cr to expand biz, enter mkt

Private equity investors and large domestic food companies have splurged close to Rs 5,000 crore to pick up stakes in, or acquire, branded spice companies, either to enter the market or expand their market share. READ MORE

11:34 AM

China's economic growth now seen below 5% through 2024 on Covid zero risk

China’s zero-tolerance approach to combating Covid infections has been a major drag on the world’s second-largest economy, with frequent lockdowns and regular testing making consumers wary of traveling and spending, while businesses contend with ongoing disruptions. On top of that, the worst housing market slump on record is rippling through sectors like construction and banking. READ MORE

11:23 AM

Stock of this SME electrical equipment maker has zoomed 500% in two months

RMC Switchgears trades in the SME segment under the "MT" group on the BSE. The BSE SME scrips which are listed under the "M" group (trading and clearing & settlement is done on a net basis) and those listed under "MT" group (trading and clearing & settlement done on gross basis). READ MORE

11:12 AM

RIL supports markets; stock gains 2%

11:01 AM

Maruti Suzuki up 1% ahead of Q2 results

The company, which is due to announce its result on Friday, October 28, could see margin expansion due to price hikes, forex benefits, and operating leverage. READ MORE

10:50 AM

NHAI InvIT to be listed on stock exchange today: Check details here

With this option retired citizens, salaried individuals, small and medium business owners have a great opportunity to invest in building new India and at the same time get healthy returns (of at least 8.05 per cent per annum), it said. READ MORE

10:41 AM

Nykaa drops out of top-100 most valued companies; stock dips 24% in a month

With the recent fall, the market price of Nykaa has tanked 62 per cent from its record high level of Rs 2,574, which it touched on November 26, 2021. The company made its stock market debut on November 10, 2021. READ MORE

10:31 AM

India-dedicated funds stanch FPI sell-off in September, shows data

India-dedicated funds saw inflows of $416 million in September, helping mitigate selling pressure from foreign portfolio investors (FPIs). If not for inflows from India-dedicated funds, the FPI outflow tally in September would have crossed $2 billion. READ MORE

10:20 AM

IDBI Bank's proposed stake sale likely to run into regulatory hurdle

The proposed stake sale in IDBI Bank by the government may run into a regulatory obstacle on the issue of minimum public shareholding. READ MORE

10:06 AM

SBI Cards and Payment Services tanks 7% on muted Q2 earnings

Net profit was up 52.4 per cent YoY and down 16.4 per cent QoQ to Rs 526 crore. The higher YoY profit growth was due to a spike in income and lower provisions. The company, however, missed the Street estimates on net profit as analysts at Bloomberg had predicted a net profit of Rs 627 crore. READ MORE

9:59 AM

Nykaa extends decline, cracks 6%

9:49 AM

COMMENT :: 'Nifty is already up by 6% in October and the trend looks set to continue'

>> The near-term market construct is clearly ‘advantage bulls.’ There are many factors going in favour of the bulls like strong Q3 GDP numbers (2.6%) in the US, easing recession fears, indications of declining inflation and expectations that Fed might pause rate hikes in Q1 of 2023.

>> In India, even though valuations look high from the short- term perspective, there are favourable factors that can take the market higher.

>> The important positive is the decline in US 10-year bond yield to below 4% which will persuade the FPIs to buy rather than sell in the near-term.

>> The encouraging Q2 results will provide fodder to the bulls. Nifty is already up by 6% in October and the trend looks set to continue. The resilience of banking, select autos, capital goods and telecom might continue.

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