sensex today: Stock Market Highlights: Nifty forms bearish engulfing top as 18K turns make-or-break level. What traders should do on Thursday


Headline equity index Nifty formed a bearish engulfing top pattern on the daily scale and gave up entire gains of the previous session. “Now, it has to hold above 18,000 zones, for an up move towards 18,200 then 18,350 zones whereas supports are placed at 17,888 and 17,777 zones,” said Chandan
Taparia of Motilal Oswal Financial Services.

Indicators such as MACD and RSI were slightly skewed on the negative side. Analysts say that the physiologically-important level of 18,000 is now becoming a make-or-break zone for the index.

Options data suggests a broader trading range between 17,600 to 18,600 zones, while an immediate trading range in between 17,900 to 18,300 zones.

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US stocks open lower with focus on Fed rate decision

Wall Street’s main indexes opened lower on Wednesday, ahead of an interest rate decision by the Federal Reserve, as a jump in private payrolls fueled fears that the central bank would not temper its aggressive stance on future rate hikes.The Dow Jones Industrial Average fell 76.92 points, or 0.24%, at the open to 32,576.28.The S&P 500 opened lower by 3.20 points, or 0.08%, at 3,852.90, while the Nasdaq Composite dropped 5.84 points, or 0.05%, to 10,885.01 at the opening bell.

US stocks open lower with focus on Fed rate decision

Byju’s eyes $1 bn-IPO for tutor chain Aakash: Report

Byju's eyes $1 bn-IPO for tutor chain Aakash: Report

Jindal Stainless Q2

  • Cons PAT at Rs 152 cr vs Rs 329 cr QoQ
  • Cons revenue at Rs 5,605 cr vs Rs 5,474 cr QoQ

Relaxo Footwears Q2

  • PAT at Rs 22 cr vs Rs 69 cr YoY
  • EBITDA at Rs 31 cr vs Rs 28 cr YoY

Sebi pegs dues worth Rs 67,228 crore as ‘difficult to recover’

Capital markets regulator Sebi has segregated dues to the tune of Rs 67,228 crore under “difficult to recover” category at the end of March 2022. Overall, the regulator has dues worth Rs 96,609 crore that needs to be recovered from entities, including those that failed to pay the fine imposed on them, failed to pay fees due to markets watchdog and did not comply with its direction to refund investors’ money, according to Sebi’s annual report for 2021-22.Out of Rs 96,609 crore, the regulator said that Rs 63,206 crore, which is 65 per cent of the total, pertains to Collective Investment Scheme (CIS) and deemed public issues of PACL Ltd and Sahara Group company — Sahara India Commercial Corporation Ltd.Also, Rs 68,109 crore, amounting to 70 per cent of the total dues, is subject to parallel proceedings before various courts and court-appointed committees. In these cases, Sebi’s recovery proceedings are subject to directions of respective courts or committees.

Sebi pegs dues worth Rs 67,228 crore as 'difficult to recover'

The Nifty index witnessed some selling pressure from the higher level ahead of the FED meeting. The undertone remains bullish and once the index breaks above 18200 will witness a sharp short covering on the upside towards the 18500-18800 levels. The lower-end support stands at the 17950-17800 zone which will act as a cushion on the downside.

– Kunal Shah, Senior Technical Analyst at LKP Securities

Markets traded dull and ended marginally lower, taking a breather after the recent surge. After the flat start, profit taking pushed the index gradually lower however marginal rebound in the final hours trimmed losses. Consequently, the Nifty index settled at 18,075; down by 0.38%. Most sectoral indices traded in tandem with the benchmark and ended with a marginal cut. Meanwhile, movement on the stock-specific front kept participants busy till the end.Markets will react to the outcome of the US Fed meet in early trades and then the focus would shift to the MPC’s special meet. The outcome of these events could trigger some volatility but the market tone is likely to remain positive. We thus recommend focusing more on accumulating quality stocks on dips.

– Mr. Ajit Mishra, VP – Research, Religare Broking

With the FOMC’s outcome around the corner, profit booking and a risk-off mood dragged the domestic market to trade with cuts. Meanwhile, strong US employment figures dented expectations for a slowdown in rate hikes. Since the market has already priced in a 75 bps rate hike by the Fed, market movement will be determined by their comments on its next moves.

– Vinod Nair, Head of Research at Geojit Financial Services

Sensex Heatmap: 22 of 30 index stocks close lower

Sensex Heatmap: 22 of 30 index stocks close lower

Closing Bell: Sensex snaps 4-day winning streak, ends 215 pts lower ahead of Fed outcome; Nifty holds 18,000

Closing Bell: Sensex snaps 4-day winning streak, ends 215 pts lower ahead of Fed outcome; Nifty holds 18,000

ADANI TRANSMISSION Q2 RESULTS

Shares of IFCI in Wednesday’s trade hit the 20% upper circuit of Rs 12 amid reports of a fund infusion plan by the government to the tune of Rs 2,000 crore. The media reports suggest there is a plan to merge the company with its unit, Stock Holding Corporation of India, in order to rescue the state-run lender. The fund infusion in IFCI is aimed at reducing the debt burden of the company ahead of its merger with the unit.

Price as on 02 Nov, 2022 02:52 PM, Click on company names for their live prices.

ITC, Mazagon Dock among stocks that hit 52-week highs in trade

ITC, Mazagon Dock among stocks that hit 52-week highs in trade

JSW Group plans to invest Rs one lakh crore in Karnataka

The JSW Group plans to invest Rs one lakh crore in Karnataka over the next five years, its Chairman Sajjan Jindal said on Wednesday. In his address to the inaugural function of “Invest Karnataka 2022″, the State’s Global Investors’ Meet (GIM) here, he also requested the state government to consider mineral auctions.

JSW Group plans to invest Rs one lakh crore in Karnataka

Metal stocks charge ahead, rally up to 9%

Price as on 02 Nov, 2022 01:51 PM, Click on company names for their live prices.

Q2 EARNINGS: FIRSTSOURCE SOLUTIONS

Shares of Murugappa group’s financial services arm Cholamandalam Investment and Finance Company (CIFC) rose as much as 6% to Rs 752 in Wednesday’s intraday trade despite the profit after tax (PAT) of the company declined 7% to Rs 563 in Q2FY23, as compared to Rs 606 crore during the Q2FY22.

Price as on 02 Nov, 2022 01:06 PM, Click on company names for their live prices.

Airtel surpasses 1 million customers on it 5G network

Price as on 02 Nov, 2022 12:47 PM, Click on company names for their live prices.

Global earnings: Maersk sees demand for container shipping slowing as Q3 tops forecast

RBI won’t immediately release letter on inflation response to govt

India’s central bank will not immediately release details of a report to the government explaining why it has failed to stick to its inflation mandate, Governor Shaktikanta Das said.

The Reserve Bank of India’s monetary policy committee (MPC) will meet on Thursday to discuss its first ever inflation target miss.

The committee is mandated to keep inflation within 2 percentage points on either side of its 4% target. Failure to do so for three straight quarters requires the bank to give an explanation to the government.

Source: Reuters

Commodity View: Prathmesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel One

Silver prices on the MCX have gained by around 13.72% in the last couple of months to trade at Rs.59000/kg as on 2nd November 2022. The rise in silver prices is on account of a host of factors ranging from a safe haven appeal, combination of geo-political risks, high usage of silver in Solar Energy and Electric Vehicles story.

Moreover, the weakening dollar index from its high levels of around 114 to around 110 mark also helped the rise in silver prices in the past two months. Hopes of possible rise in demand from China on account of ease in Covid restrictions is also supporting silver prices in the near term.

Silver prices will be supported in the near future on account of festivities in India and the Chinese New Year ( January 2023). Silver prices on the MCX ( CMP: 59000/kg as on 2nd November 2022) may move higher towards Rs.62000 in the near term.

10 microcaps that gave multibagger returns in October

Even though the broader markets underperformed headline indices in October, some of the microcaps with m-cap of up to Rs 200 crore have rallied to deliver multibagger returns in the month. Take a look:

10 microcaps that gave multibagger returns in October

Pharma stocks in pink of health! Check out the top gainers

Price as on 02 Nov, 2022 12:24 PM, Click on company names for their live prices.

Fusion Micro Finance IPO subscribed 2% during the first 90 mins of bidding

According to the data from BSE, the investors made bids for 4,83,680 equity shares or only two per cent compared to the 2,13,75,525 equity shares offered for the subscription by 11.30 am on Wednesday, November 02.

Fusion Micro Finance IPO subscribed 2% during the first 90 mins of bidding

A Chinese industral park that hosts an iPhone factory belonging to Foxconn announced a fresh COVID-19 lockdown on Wednesday, raising questions about its impact on the Apple supplier’s efforts to quell discontent at the factory.

Price as on 02 Nov, 2022 11:44 AM, Click on company names for their live prices.

BofA upgraded Nykaa to buy with a target price of Rs 1555. The company is well placed to sustain revenue growth and margin improvement, BofA said.

Price as on 02 Nov, 2022 11:40 AM, Click on company names for their live prices.

E-rupee launch, landmark moment in the history of currency in the country, will transform the way business is done

– Shaktikanta Das, RBI Governor

NCC has received two new orders for Rs 1,056 crore in October 2022. All these orders are related to water and environment division and is received from state government agencies.

Price as on 02 Nov, 2022 10:59 AM, Click on company names for their live prices.

Chambal Fertilisers down 5% after Q2 net profit falls 46%. The stock was down 7% in early trade

Price as on 02 Nov, 2022 10:58 AM, Click on company names for their live prices.

LIC Housing Finance announced a 23% on-year growth in net profit at Rs 305 crore for the three months period ending September. The subsidiary of the country’s largest insurer LIC said its net interest income for the quarter declined marginally to Rs 1,163 crore from Rs 1,173 crore.

Price as on 02 Nov, 2022 10:57 AM, Click on company names for their live prices.

Fusion Micro Finance IPO opens: Here’s what brokerages say about the issue

Fusion Micro Finance IPO opens: Here's what brokerages say about the issue

Tejas Networks will invest over Rs 750 crore under design-led Production Linked Incentive (PLI) scheme for manufacturing of telecom and networking products. Tejas Networks is one of the 42 companies selected for the scheme.

Price as on 02 Nov, 2022 10:41 AM, Click on company names for their live prices.

Shares of Karnataka Bank rallied 19.97% on Wednesday to hit a new 52-week high after the private lender reported a strong performance in the September 2022 quarter. The Mangaluru-headquartered lender has posted an all-time high quarterly net profit of Rs 411.5 crore for the quarter ended September 30, 2022, recording growth of 228 per cent compared to the profit during the same period last year.

Price as on 02 Nov, 2022 10:39 AM, Click on company names for their live prices.

Expect volatility to continue, we are in for a bumpy ride, says Rahul Bhasin of Baring PE India

Max Healthcare rises 5% as Q2 PAT shoots up 147% to Rs 511 crore

Price as on 02 Nov, 2022 10:14 AM, Click on company names for their live prices.

Shares of Orissa Bengal Carrier (OBCL) rallied as much as 15 per cent on Wednesday after the company announced to enter into a contract with the mining major Vedanta. The Raipur Headquartered Orissa Bengal Carrier has informed the National Stock Exchange (NSE) about the same via an exchange filing on Tuesday, November 01, 2022. The stock at present is trading 12.98% up

Price as on 02 Nov, 2022 10:00 AM, Click on company names for their live prices.

Macrotech Developers reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provisions made for loan given to its British arm for development of projects. It markets its properties under the Lodha brand and is one of the leading real estate developers in the country.

Price as on 02 Nov, 2022 09:58 AM, Click on company names for their live prices.

Debenture holders have moved the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against GVK Power and Infrastructure, the ultimate holding company of GVK, claiming the holding company had guaranteed repayment of funds worth ?312 crore provided to group companies, according to sources briefed on the matter.

Price as on 02 Nov, 2022 09:57 AM, Click on company names for their live prices.

Nifty Metal has a good day; SAIL up 3%, Hindalco up 4.76%

Price as on 02 Nov, 2022 09:52 AM, Click on company names for their live prices.

Tech Mahindra, reported a 4% decline in profit for the September quarter at Rs 1,285 crore, citing a compression in profit margin. The IT major’s total revenues rose 20.7 per cent to Rs 13,129 crore for the reporting quarter as against the same period year-ago.

Price as on 02 Nov, 2022 09:47 AM, Click on company names for their live prices.

Glenmark Pharmaceuticals receives ANDA approval for Sodium Phenylbutyrate Tablets

Price as on 02 Nov, 2022 09:39 AM, Click on company names for their live prices.

Buy or Sell: Stock ideas by experts for November 02, 2022

Eicher Motors, Maruti Suzuki, Ashok Leyland among top losers in auto; index down 0.60%

Price as on 02 Nov, 2022 09:35 AM, Click on company names for their live prices.

Nykaa management post Q2 show

Punjab National Bank reported a 63 per cent decline in standalone net profit to Rs 411 crore for the September quarter on account of higher provisioning for bad loans. The bank had posted a net profit of Rs 1,105 crore in the year-ago period.

Price as on 02 Nov, 2022 09:32 AM, Click on company names for their live prices.

IT major Infosys will seek shareholders’ nod for its proposed Rs 9,300 crore share buyback between November 3 to December 2 through postal ballot. The Infosys board on October 13 had announced a share buyback of Rs 9,300 crore via the open market route, for a price not exceeding Rs 1,850 per equity share.

Price as on 02 Nov, 2022 09:30 AM, Click on company names for their live prices.

Stocks in focus: NCC, RIL, ONGC, Chola Investment, TechM, Adani Transmission and more

Alembic Pharmaceuticals gets USFDA final approval for Mesalamine extended-release capsules USP

Price as on 02 Nov, 2022 09:25 AM, Click on company names for their live prices.

Rupee falls 6 paise to 82.65 against US dollar in early trade

Rupee falls 6 paise to 82.65 against US dollar in early trade

Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Globally markets are waiting for the Fed commentary tonight. 75 bp rate hike is given and already discounted by the markets. So it will be the Fed’s commentary and probable guidance that would be market moving. The Fed is likely to continue with its hawkish stance but any mildly dovish signal will be positive for markets. In the absence of any rate moderation signal, markets are likely to correct. So investors may wait and watch for this big event.

Q2 results are panning out on expected lines. A notable feature is the superior performance of the premium segment particularly in automobiles and the very good results of financials, particularly banking. Apart from the excellent performance of the leading private banks, many PSU banks, too, have done well. Since this PSU segment is under-owned and cheap there is some scope for further short-term rally.

OPENING BELL: Sensex sheds 50 points, Nifty holds above 18,100; Karnataka Bank soars 16%, LIC Housing Fin tumbles 9%

OPENING BELL: Sensex sheds 50 points, Nifty holds above 18,100; Karnataka Bank soars 16%, LIC Housing Fin tumbles 9%

Pre-open session: Sensex slips over 150 points; Nifty below 18,130

Amazon closes below $1 trillion in market value for first time since 2020

Amazon.com Inc. shares fell on Tuesday, with the e-commerce and cloud-computing company closing below $1 trillion in market value for the first time since the early days of the Covid-19 pandemic more than two years ago.

Amazon closes below $1 trillion in market value for first time since 2020

Asian shares wobble

Asian shares wobbled in cautious trading on Wednesday while the dollar sagged slightly as investors braced for the U.S. Federal Reserve’s policy outcome later in the global day with many looking for any signs of a slowdown in future rate hikes.

Quarterly earnings today

Adani Transmission, Procter & Gamble Hygiene, Dalmia Bharat, Mahindra & Mahindra Financial Services, Relaxo Footwears, Grindwell Norton, Kajaria Ceramics, EIH and Jindal Stainless are among companies that will announce their quarterly earnings today.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 23.5 points, or 0.13 per cent, lower at 18,231.50, signaling that Dalal Street was headed for a negative start on Wednesday.

Tech View: Nifty forms Doji candle on daily charts

Headline equity index Nifty formed a Doji sort of candle on the daily charts as it gave the highest closing of the last 195 trading sessions.

Tokyo stocks open lower ahead of Fed decision

Tokyo stocks opened lower on Wednesday, extending falls on Wall Street after mixed US economic data added to nervousness ahead of a major decision by the Federal Reserve. The benchmark Nikkei 225 index was down 0.36 percent, or 98.66 points, at 27,580.26 in early trade, while the broader Topix index was down 0.06 percent, or 1.11 points, at 1,937.39.

Wall Street slips as jobs data dents hopes for Fed rate deceleration

US stocks closed lower for a second straight session on Tuesday after data indicating that the labor market remained on solid ground dimmed hopes the Federal Reserve might have enough reason to begin reducing the size of its interest rate hikes.

Oil climbs on demand hopes after big drawdown in U.S. crude stocks

Oil prices rose in early trade on Wednesday after industry data showed a surprise drop in U.S. crude stockpiles, suggesting demand is holding up despite steep interest rate hikes dampening global growth. Brent crude futures picked up 17 cents, or 0.1%, to $94.82 a barrel at 0014 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 26 cents, or 0.3%, to $88.63 a barrel.



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