Market Close Highlights, Oct 8: Benchmarks snap 5-day losing run; Sensex up 585 pts, Nifty holds 25k
Stock Market Close Highlights Today: Adani Ports, M&M, Reliance Industries, HDFC Bank, L&T, SBI, Ultratech Cement, NTPC, and Kotak Bank were the top Sensex gainers today, up between 1 and 4.5 per cent
9:37 AM
Stock Market LIVE Updates: Tata Motors sheds 3% as JLR posts 3% decline in Q2 retail sales
Stock Market LIVE Updates: Jaguar Land Rover, owned by Tata Motors, reported a 3 per cent decline in retail sales in Q2, despite a 3 per cent increase in the first half of the fiscal year. The company anticipates a production recovery in the second half as aluminium supply issues get resolve.
9:36 AM
Stock Market LIVE Updates: Servotech Power gains after securing order to set up 9 EV charging stations in Maha
Stock Market LIVE Updates: Servotech Power Systems has secured an additional order to establish nine EV charging stations in Maharashtra, bringing its total to 29. This order from the Nashik Municipal Corporation reflects the growing demand for EV infrastructure.
9:34 AM
Stock Market LIVE Updates: Vi up 3% as co expands tie up with Ericsson to deploy 4G/5G coverage in 4 circles
Stock Market LIVE Updates: Ericsson has expanded its partnership with Vodafone Idea, securing contracts for the deployment of 4G and 5G technology in four new telecom circles. This comes after Vodafone Idea awarded a Rs 30,000 crore network contract to the company.
9:32 AM
Stock Market LIVE Updates: Axis Bank climbs as co secures $500-mn from IFC to develop blue finance in India
Stock Market LIVE Updates: The bank has secured a $500 million loan from the International Finance Corporation (IFC) to develop a blue finance market in India. This marks IFC's first blue investment in the country and will support various environmental initiatives. Axis Bank aims to enhance its climate finance portfolio, with a commitment to invest Rs 60,000 crore in ESG-aligned sectors by 2030.
9:31 AM
Stock Market LIVE Updates: HDFC Bank gains after raising MCLR by 5 bps on select tenures
Stock Market LIVE Updates: The bank has increased its marginal cost of funds based lending rate (MCLR) by 5 basis points for select tenures, effective October 7. The new MCLR rates now range from 9.10 per cent to 9.50 per cent, with the six-month MCLR at 9.45 per cent and the three-year MCLR at 9.50 per cent. This change reflects the bank's response to rising deposit rates amid sluggish deposit growth.
9:21 AM
Stock Market LIVE Updates: Nifty Metal is top sectoral loser
Stock Market LIVE Updates: Nifty Metal is top sectoral loser; down 2.8 per cent.
9:20 AM
Stock Market LIVE Updates: Broader markets drop
Stock Market LIVE Updates: Broader markets drop; Nifty SmallCap up 0.6 per cent.
9:19 AM
Stock Market LIVE Updates: Index heatmap check
Stock Market LIVE Updates: M&M and HUL among top gainers on BSE.
9:18 AM
Stock Market LIVE Updates: Nifty drops marginally
Stock Market LIVE Updates: Nifty drops marginally, down 0.05 per cent.
9:17 AM
Stock Market LIVE Updates: Sensex volatile at opening
Stock Market LIVE Updates: Sensex volatile at opening.
9:11 AM
Stock Market LIVE Updates: Sensex falls 220 points in pre-open
Stock Market LIVE Updates: Sensex dropped over 200 points to 80,826.56 levels.
9:09 AM
Stock Market LIVE Updates: Nifty gains marginally in pre-open
Stock Market LIVE Updates: Nifty gains marginally in pre-open, up 0.1 per cent at 24,821 levels.
8:58 AM
Views By: Anand James, Chief Market Strategist, Geojit Financial Services
Stock Market LIVE Updates: Derivative outlook - 'FIIs decreased future index long position holdings by 14.86%'
Stock Market LIVE Updates: "Nifty weekly contract has highest open interest at 27,950 for Calls and 23,100 for Puts while monthly contracts have highest open interest at 27,000 for Calls and 25,000 for Puts. Highest new OI addition was seen at 25,000 for Calls and 23,100 for Puts in weekly and at 25,000 for Calls and 22,500 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 14.86 per cent, increased future index shorts by 32.68 per cent and in index options, 11.44 per cent in Call longs, 6.00 per cent in Call short, 18.83 per cent in Put longs and 4.35 per cent in Put shorts.
Views By: Anand James, Chief Market Strategist, Geojit Financial Services
8:56 AM
Views By: Anand James, Chief Market Strategist, Geojit Financial Services
Stock Market LIVE Updates: Nifty outlook - 'Recovery hopes now rest on Nifty’s ability to reclaim 24,940'
Stock Market LIVE Updates: "We have now had six consecutive days of fall. Last such instance was in October 2023, which saw a reversal on the seventh day. VIX at that point had peaked to 13 levels, from the vicinity of 10 prevailing a week earlier. In contrast to that, VIX has now swung from 11.5 vicinity to 15, indicating that range expectations are higher now. While this allows for extension in downtrend towards 23,900, recovery hopes, initially aiming 25,100-25,200 now rest on Nifty’s ability to reclaim 24,940, our yesterday’s downside marker. - Read more
Views By: Anand James, Chief Market Strategist, Geojit Financial Services
8:54 AM
These are times of abnormal moves in the indices. Hang Seng has spiked 32 per cent in the last one month and Shanghai composite rose 8 per cent in a day. Compared to that, the Indian market is relatively stable, though weak. A significant fact is that the underperformance is India-specific since the US, Europe and other emerging markets are stable.
An important data to note is that the net FPI selling of Rs 50,011 crore during the last six trading sessions has been more than offset by the DII buying of Rs 53,203 crore. Yet the market has corrected by 5.6 per cent impacted by the weak sentiments. The best strategy now is to accumulate high quality fairly valued bluechips like the leading financials and IT stocks."
Stock Market LIVE Updates: 'Best strategy to accumulate high quality, fairly valued bluechips'
Stock Market LIVE Updates: "Market has turned weak responding to negative cues from escalating geopolitical tensions in the Middle East, massive FPI selling and concerns surrounding the election results due today. The most important trigger which pulled the Nifty 5.6 per cent down from the peak has been the sustained big FPI selling during the last six trading days. There are enough indicators to show that FPIs have been following a ‘Sell India, Buy China’ strategy. Elevated valuations in India and cheap valuations for Chinese stocks triggered this change in FPI strategy.
These are times of abnormal moves in the indices. Hang Seng has spiked 32 per cent in the last one month and Shanghai composite rose 8 per cent in a day. Compared to that, the Indian market is relatively stable, though weak. A significant fact is that the underperformance is India-specific since the US, Europe and other emerging markets are stable.
An important data to note is that the net FPI selling of Rs 50,011 crore during the last six trading sessions has been more than offset by the DII buying of Rs 53,203 crore. Yet the market has corrected by 5.6 per cent impacted by the weak sentiments. The best strategy now is to accumulate high quality fairly valued bluechips like the leading financials and IT stocks."
Views by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Topics : MARKET WRAP MARKET LIVE MARKETS LIVE MARKETS TODAY stock market trading Markets Sensex Nifty S&P BSE Sensex Nifty50 Nifty 50 share market Global stock markets Indian stock market Indian stock markets Buzzing stocks Stocks in focus BSE NSE BSE NSE equity US markets Asia Markets india market
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Oct 08 2024 | 8:00 AM IST