Sensex rallies 567 pts, Nifty nears 19,700; Realty index leaps 4%

Closing Bell on Tuesday, October 10, 2023: Sectorally, the Nifty Realty index jumped close to 4 per cent, while the Nifty PSU Bank and Metal indices added over 2 per cent each

12:15 PM

Asian Market Update:: Nikkei gains 2.4%; Shanghai, Kospi end in red

Source: Yahoo Finance

12:00 PM

Vodafone Idea files plea in SC seeking correction of AGR dues; stock up 2%

Vodafone Idea on Monday filed a curative petition against the Supreme Court judgment dismissing petitions by telecom companies seeking correction of Adjusted Gross Revenue (AGR) dues payable by them. READ MORE

11:46 AM

US, UK, Germany, Italy, France extend support to Israel amid Hamas attack

"We make clear that the terrorist actions of Hamas have no justification, no legitimacy, and must be universally condemned," the statement by leaders read. READ MORE

11:33 AM

Realty shares in focus; Prestige, Godrej Properties, DLF rally up to 10%

Shares of real estate companies were in focus with the S&P BSE Realty index surging 3 per cent, hitting 52-week high on the BSE in Tuesday's intra-day trade on expectation of strong demand. Prestige Estates Projects, Godrej Properties, DLF, Oberoi Realty and Phoenix Mills rallied up to 10 per cent. READ MORE

11:19 AM

ALERT:: Hella Infra Market announces open offer for Shalimar Paints; stock flat

Hella Infra Market has made a cash offer to acquire up to 2.18 crore shares of Shalimar Paints at Rs 165 per share. 

11:06 AM

How Hamas managed to outsmart Israel's famed intelligence services

The militant group’s attack on Saturday caught Israel’s national security apparatus completely off guard — a shocking fact given the scope of the incursion, which included attacks by sea, air and land, and pushed deep into Israeli territory. READ MORE

10:51 AM

Hawkish RBI prompts debt mutual funds to reassess 'duration' of schemes

Debt fund managers are reassessing their strategies after the setback delivered by the Reserve Bank of India (RBI) on Friday. READ MORE

10:40 AM

Primary energy demand in India will more than double by 2045: Opec

Released on Monday, the annual report says global primary energy demand is set to increase from around 291 mboe/d in 2022 to close to 359 mboe/d in 2045, an increase of 68.3 mboe/d, or 23 percent over the outlook period. Of this, around 28 percent of the demand growth in non-OECD economies will originate in India, the report said. India's energy demand will also reach 10 per cent of global demand, up from 6.6 per cent currently. READ MORE

10:28 AM

ALERT :: India VIX cools off 4% after rallying 12% Monday

10:15 AM

Mazagon Dock Shipbuilders soars 7% on signing LOI with European client

Last month, MDL had signed Master Ship Repair Agreement (MSRA) with the US Government represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka. This is a Non-Financial Agreement. There are only two shipyards in the country including MDL who have signed MSRA. READ MORE

10:04 AM

Inflation seen easing to 5.50% in Sept on softening food price rises: Poll

Rises in food prices, which make up about half the consumer price index (CPI), continue to cool from recent peaks after the Indian government enacted a series of measures to boost supply. READ MORE

9:48 AM

Comment :: 'Uncertainty continues to weigh; FII selling coming down'

The uncertainty associated with the Israel-Hamas war continues. It can take a turn for the worse if Israel starts ground operations in Gaza. The possibility of easing of tensions also cannot be ruled out since Hamas will bargain with the captured Israeli hostages.

Unlike economic and market trends, geopolitical developments cannot be predicted. This uncertainty will weigh on markets.

 

On the economic front there are some positive developments. The decline in the dollar index to 105.95 and the US 10-year bond yield falling to 4.65 from the recent high of 4.88 per cent are positive. Even though FIIs continue to sell in India, the intensity of selling is coming down. More importantly. DIIs are increasing their purchases.
 

Calibrated buying in small quantities in quality stocks in banking, automobiles, IT, capital goods and real estate/construction would be a good strategy for long-term investors.

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

9:34 AM

Case filed against Dr Reddy's arm in the US; stock slips 1%

>> A step-down subsidiary of the company has been named as a defendant in a complaint filed in the US over the sale of cancer drug Revlimid. The case alleged that the company, and other pharma firms, improperly restrained competition and maintained a shared monopoly in the sale of Revlimid. 

9:33 AM

The Phoenix Mills' total consumption grows 20% YoY in Q2-FY24; stock up 2%

>> The company said its total consumption grew by 20 per cent YoY to Rs 2,637 crore in Q2FY24. Retail collections rose 23 per cent YoY to Rs 638 crore.

 

9:30 AM

Star Health in red in firm market on GST notice

>> Company has received Rs 39-crore show cause cum demand notice from DGGI for non-payment of GST on co-insurance premium from July 2017 to March 2023.