Sensex falls 171 pts, Nifty holds 18,300; Dr.Reddy's down 4%, LIC jumps 6%

CLOSING BELL: The key benchmark indices gyrated in a narrow trading band on Monday, before settling with losses as FMCG stocks slipped.

11:09 AM

Inflation, Ukraine war make world economy gloomier than last month: IMF

In last month's WEO, IMF cut its forecast for global growth next year to 2.7%, from 2.9% seen in July and 3.8% in Jan, adding that it sees a 25% probability that growth will slow to less than 2%. Read more

10:56 AM

IRCTC, Zomato, Infosys: Is investors' love for digital India over?

Some of the other 'digital / new-age' companies debuted at a steep valuation compared to the traditional technology firms. The rally fizzled out as they failed to make a decent profit. Read here

10:56 AM

Oil prices extend gains as China eases some Covid-19 restrictions

Brent crude futures rose 87 cents, or 0.9%, to $96.86 a barrel by 0041 GMT after settling up 1.1% on Friday. Read more

10:46 AM

Big shoes to fill for footwear firms as near-term margin worries bite

Results for listed footwear makers in the July-September quarter were a mixed bag. While revenue growth for most of the bigger players was strong, margins were weighed down by raw material costs, advertising expenses, and volume pressures. READ MORE

10:37 AM

Infosys circulates three-phase work-from-office plan internally: Report

This is in line with its Chief Executive Officer (CEO) Salil Parekh's announcement in October that the company will continue its flexible approach in calling the employees back to the office. Read here

10:29 AM

LIC shares surge 9% as profit soars 11-fold in Q2 to Rs 15,952 crore

The insurance behemoth reported a net premium income of Rs 1.32 trillion in Q2 of FY23, up 27 per cent year-on-year (YoY) from Rs 1.04 trillion in Q2 of FY22. Its first-year premium income rose 11 per cent YoY to Rs 9,125 crore while renewal premium was up 2 per cent to Rs 56,156 crore. Single premium income increased by 62 per cent YoY to Rs 66,901 crore. READ MORE

10:18 AM

Domestic investor holding in listed stocks hits new high, shows data

The rise in holdings comes on the back of net inflows from DIIs of Rs 17,597 crore during the July-September quarter READ MORE

10:08 AM

Aurobindo Pharma slips 7%, hits over 2-year low on weak Q2 results

The company’s revenue from operations declined 3.4 per cent YoY to Rs 5,739 crore in Q2FY23 as against Rs 5,942 crore in the year-ago period. Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin contracted to 14.6 per cent from 20 per cent. READ MORE

Photo: Shutterstock

9:59 AM

COMMENT :: 'Quality of market rally has improved'

FIIs are likely to continue buying since the dollar index has declined sharply to 106.6 from the recent high of around 114. DIIs are unlikely to sell big when the market momentum is so strong. Moreover, SIP inflows have crossed Rs 13000 crores a month- a record.

The quality of the rally has improved with the participation of high quality large-caps like HDFC twins, RIL, Infosys and TCS.

Bank Nifty at record highs can provide resilience to the market. The prospects of banks continue to improve. Nifty IT has more room to go up since fears of slowdown in tech spending need not materialise.

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

9:47 AM

Outlook :: MCX Gold may scale Rs 53,350 as trend turns positive

Gold

 

Bias: Positive

 

Last Close: Rs 52,334

 

Target: Rs 53,350

 

Last week, the MCX Gold futures have seen a couple of positive developments on the daily chart. Firstly, Gold prices were able to register a higher-high in recent sessions, and secondly, Gold futures broke and managed to sustain above the higher-end of the Bollinger Bands on the daily chart for four straight trading sessions. READ MORE

9:38 AM

Media stocks extend decline; Sun TV drops 5%, ZEEL 3%

9:37 AM

Fortis Healthcare gains 2.6% on healthy Q2 results

>> The company posted 9.9 per cent growth in revenue to Rs 1,607 crore and a 27.9 per cent rise in profit after tax to Rs 166 crore in the second quarter of the fiscal year. Reported profit showed a higher growth of 67 per cent to Rs 218 crore. Q2FY23 and H1FY23, owing to an exceptional gain of Rs 51.6 crore, which pertains to reversal of impairment in an associate Company.

9:35 AM

Despite weak Q2, Hindalco rises over 4.5%

>> Aditya Birla Group's flagship company reported a 35.5 per cent YoY decline in consolidated net profit for Q2FY23 to Rs 2,205 crore, due to elevated energy costs and a fall in aluminium prices. The profit for the quarter was below Street estimates of Rs 2,384 crore for the period even as revenue was ahead of estimates.

9:33 AM

LIC jumps 6% on 11-fold rise in Q2 net profit

>> LIC's net profit in Q2 stood at Rs 15,952.49 crore, up 11 times from Rs 1,433.71 crore in the year-ago period. This was due to a change in its accounting policy, wherein it has transferred Rs 14,271.80 crore to the shareholders’ account from the non-participatory account.

9:32 AM

M&M gains on better-than-expected Q2 show

>> The auto major reported better-than-expected performance for the quarter ended September 30. Robust sales of its SUVs and a good showing by the farm equipment vertical bumped up its standalone net profit (after exceptional items) by 46 per cent YoY