Dovish Fed unleashes market bulls; Sensex zooms 490 pts, Nifty tops 19,100

Closing Bell on Thursday, November 02: Jerome Powell's comment that "despite elevated inflation, the longer term inflation expectations remain well anchored" was taken by the markets as dovish

4:01 PM

Comment :: 'Domestic macros to support markets'

A pause with dovish commentary from the Fed led to a rebound in the global and domestic market sentiment. Further, the fall in US bond yields indicates a prolonged pause in interest rates hike. And the domestic macros are favourable with positive auto numbers, a surge in GST collection, good factory data and better than estimated Q2 quarter earnings.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

 

3:57 PM

Comment :: 'Focus on overngiht management'

Participants are taking comfort from the rebound in the global indices, especially the US. However, it is too early to say that we are out of the woods citing multiple hurdles between the 19,200-19,400 zone in Nifty. 

We, thus, reiterate our view to follow stock-specific approach and focus more on overnight risk management.

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking 

 

3:55 PM

Currency check :: Rupee ends 4 paise stronger

3:50 PM

Q2 Earnings :: Tata Motors reports profit of Rs 3,764 crore

>> Co reported loss of Rs 945 crore

>> Consolidated revenue at Rs 1.05 trillion vs Rs 79,611 crore

3:47 PM

IPO Update :: Mamaearth issue subscribed 7.5x; QIB portion at 11.5x

>> NII at 3.9x

>> Retail at 1.13x

>> Employee at 4.6x

3:44 PM

SmallCap Heatmap :: Index up 0.9%; Syrma Tech sinks 12%, Solara Active rallies 15%

3:42 PM

MidCap Mantra :: Index rises 1.2%; Voda, REC, Lodha sprint

3:41 PM

Sectoral trends :: Broad-based rally lifts markets; Realty, PSBs advance

3:38 PM

Sensex Heatmap :: 28 of 30 index stocks rally; IndusInd Bank rises 2%, Tata Steel 1.6%

3:37 PM

CLOSING BELL :: Nifty ends above 19,100

3:36 PM

CLOSING BELL :: Sensex reclaims 64,000, surges 490 pts

3:30 PM

Notable growth in coal sector due to rise in output of fossil fuel: Govt

The latest data indicates that the combined index of eight core industries has shown a noteworthy increase of 8.1 per cent (provisional) in September 2023, compared to the same period in the previous year. On Monday, the government had said that the country's coal production picked up momentum in the latter half of October after unprecedented rains earlier in the month in coal producing states. READ MORE

3:21 PM

Adani Enterprises Q2 result: Net profit falls over 50% to Rs 228 crore

The company's revenue from operations was down 41 per cent to Rs 22,517.33 crore during the quarter as compared to Rs 38,175.23 crore last year. It was also down from Rs 25,438.45 crore in the previous quarter. READ MORE

3:09 PM

Dabur reports Rs 515 crore profit in Q2; stock gains

Dabur reports Rs 515 crore consolidated PAT versus Rs 490 crore last year. 

Revenue Rs 3,203.8 crore versus Rs 2,987 crore a year ago. 

2:58 PM

Mamaearth IPO sails through despite falling GMP, low retail interest

At 2:20 PM, the issue was subscribed 5.6 times (5.6x) with QIB portion seeing subscription of 9.4x, followed by Employee portion at 4.34x. Retail investor portion stood at 91 per cent. Read