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PremiumSensex Today Live | Share Market Updates: India's benchmark stock indices fell on Monday after experiencing volatility in the early hours of the day. The auto sector dragged, while most IT companies ended in the green.
The Nifty Smallcap 250 Index rose 0.57% to hit an all-time high of 13,051.25 intraday, while the Nifty Midcap 150 was volatile after hitting an all-time high of 15,654.40.
The Sensex shed 139.58 points or 0.21% to close at 65,655.15 on Monday while the Nifty closed 37.80 points or 0.19% down at 19,694, after volatility in the early hours. Auto and FMCG companies dragged, while IT and pharma firms saw gains.
Stocks in Asia inched upward on Monday after small gains on Wall Street on Friday as optimism persists that the Federal Reserve will soon end its interest rate hikes.
Indices rose in South Korea and Australia while Japan’s Nikkei 225 index traded at a 33-year high. US futures were little changed after the S&P 500 rose above 4,500 on Friday to notch its third straight week of gains — the longest run since July.
The Indian rupee ended lower at 83.34 per dollar on Monday from Friday's close of 83.27.
Benchmark indices ended lower for the second straight session on Monday.
At close, the Sensex was down 139.58 points or 0.21% at 65,655.15, and the Nifty was down 37.80 points or 0.19% at 19,694.
Adani Enterprises, M&M, Bajaj Finance, SBI Life Insurance and Bajaj Finserv were the biggest losers on the Nifty, while Divis Labs, Bharti Airtel, HCL Technologies, Wipro and ONGC all gained.
The IT index closed 0.6% up and the healthcare index 0.3% higher, while the auto, capital goods, FMCG and realty sectors saw selling. The BSE Mid Cap index ended flat while the Small Cap index rose 0.4%, continuing its hot streak.
Shares of Mankind Pharma Limited rose almost 4% to an all-time high of ₹1,998 after the company was added to the FTSE All-World, Large-Cap, Total-Cap, and All-Cap indices.
Indian Renewable Energy Development Agency's (IREDA) IPO is set to open on 21 November. The public offering comprises a fresh issue of 40.32 crore equity shares by the company and an offer-for-sale of 26.88 crore shares by the Indian government.
Global shares were mixed on Monday after Wall Street closed its third straight winning in the green. Germany's DAX fell 0.1% to 15,907.92 and the CAC 40 in Paris gained 0.3% to 7,256.93. Britain's FTSE 100 was down 0.3% at 7,481.86. Futures for the S&P 500 and the Dow Jones Industrial Average were virtually changed. Japan's Nikkei 225 index shed 0.6% after breaking its September peak and hitting a 33-year high.
Sebi chairperson Madhabi Puri Buch said on Monday she was "confused and surprised" at the heightened interest in futures and options (F&Os) despite 90% of investors losing money in the segment. Buch said investors need to to look at the long term to increase their chances of achieving inflation-beating returns.
At 3 pm the Sensex was down 110.58 points or 0.17% to 65,684.15, and the Nifty was down 31.30 points or 0.16% to19,700.50.
The public listings of small and medium-sized enterprises (SMEs) have outperformed mainboard companies in terms of listing gains in the past one year as relatively lower free float has caused a surge in prices when demand is disproportionately higher than supply in a structural bull market. However, market experts cautioned investors to take an informed decision while picking SME IPOs and invest only in quality businesses, as a rising tide lifts all boats. Read more.
Aditya Birla Sun Life Mutual Fund said on Monday that it collected nearly ₹200 crore for its Aditya Birla Sun Life US Treasury Bond ETFs Fund of Funds new fund offers (NFOs) that opened from 16 October to 30 October.
Asian shares were higher on Monday after Wall Street ended its third straight winning week in the green. US futures were lower while oil prices gained as investors looked ahead to OPEC+ meetings. The Nikkei 225 broke its September peak to hit a 33-year high before dropping 0.6% to 33,388.03.
The RBI's decision to tighten rules for unsecured personal loans is credit-positive because lenders will have to allocate more capital for such loans, thus improving their buffers, Moody's Investors Service said.
The stock is down more than 3% to 20.15.
At 2 pm the Sensex was down 148.77 points or 0.23% to 65,645.96, and the Nifty was down 36.60 points or 0.19% to 19,695.20.
The value of promoter-pledged holdings of BSE-500 stocks declined to 1.22% in the September quarter 2023 from 1.36% in the June quarter. An analysis shows that the value of pledged promoter holdings stood at ₹1.8 lakh crore, which is about 0.61% of the total BSE-500 Index’s market capitalization.
Promoters of Suzlon Energy, Sobha and Dixon Technologies revoked their entire pledged holdings during the September 2023 quarter, while Max Financial Services, Jindal Steel & Power and Emami, among others saw a reduction in pledged promoter holdings during the quarter. Read more.
OpenAI announced Altman's departure on Saturday, saying that he had been inconsistent with his communications with the board.
The based real-estate developer has acquired 14.8 acres of land in Gurugram for ₹597 crore for its first venture outside Mumbai. It plans to develop a luxury project on the site.
Oil futures edged higher on Monday, extending gains on expectations of more OPEC+ supply cuts to shore up prices, which have fallen for four weeks on easing concerns of supply disruption due to the Israel-Hamas conflict.
Brent crude futures climbed 66 cents, or 0.8%, to $81.27 a barrel by 0700 GMT while U.S. West Texas Intermediate crude was at $76.49 a barrel, up 60 cents or 0.8%.
The Sensex was down 173.30 points or 0.26% to 65,621.43, and the Nifty was down 45.60 points or 0.23% to 19,686.20 at 1 pm on Monday.
Nifty Pharma touched a record high of 15,950.80, up 0.9%, on Monday. Shares of Torrent Pharmaceuticals (up 0.58%), GlaxoSmithKline Pharmaceuticals (up 4.65%), Aurobindo Pharma (up 0.02%) were at 52-week-highs, while those of Sanofi India (up 0.57%) , Cipla (down 0.12), Zydus Lifesciences (up 0.05%) were hovering near their 52-week highs. Read more.
Tokyo stocks gave up their gains and ended lower on Monday as investors grew cautious about possible overheating of the economy. The Nikkei 225 index ended down 0.59% or 197.17 points at 33,388.
Shares of Tata Investment Corporation rallied more than 15% to a fresh 52-week high on Monday after jumping to 20% in the previous session. The rally is due to the Tata Technologies IPO, which will open for public subscription on 22 November.
Shares of HCL Technologies hit a fresh 52-week high of ₹1,331.25, up nearly 2% on the BSE. The stock has rallied 6% in the past four sessions and is nearing its record high of ₹1,377.75 from September 24, 2021.
Nykaa shares surged more than 5% on Monday to hit an 11-month high. The BPC business reported sluggish growth but the stock gained thanks to a rebound in the fashion business.
The surge in mid-cap and small-cap stocks shows no signs of waning, even as they hit record levels. The BSE Mid Cap and BSE Small Cap indices hit new highs of 33,526 points and 39,855 points on Monday. They have both surged nearly 8% each this month.
The Nifty and Sensex have gained 9% and 8% so far this year, while the BSE Mid Cap index and BSE Small Cap indices have surged 32.27% and 37.70%, respectively. Read more.
The company's stock fell more than 1% on the news.
Aggregate reported revenue growth of consumer staples companies under Kotak Institutional Equities’ coverage fell to 5.2% in the September quarter (Q2FY24), marking the fourth straight quarter of drop in the measure.
On a like-for-like basis, growth stood at 4.6% last quarter. Growth was bogged down by price cuts. Moreover, price hikes in the base are adding to the woes. Companies reported a delay in rural recovery. Plus, there is continued pressure from local competition in select categories such as tea, detergent bars, and biscuits on easing input prices. Read more.
Shares of Aurobindo Pharma gained 1% to hit a new 52-week high of ₹1,017.30 on Monday after the United States Food and Drug Administration concluded a pre-approval inspection with zero observations.
Shares of Adani Power rose 1.5% in early trade on Monday as Ardour Investment Holding and Emerging Market Investment DMCC, two of the company’s promoters, raised their stakes through open-market transactions between 26 September and 16 November.
Ardour Investment raised its stake by 1.93%, while Emerging Market Investment DMCC increased its stake by 0.13%.
Shares of Vedanta opened 0.5% higher in early trade on Monday despite receiving a ₹1.38 crore GST demand. In a regulatory filing on 18 November, Vedanta said that it had received the demand order from the GST & Central Excise Commissionerate, Rourkela. The company said it would appeal the order.
Shares of Zen Technologies, an anti-drone technology and defence training solutions provider, rose by 4.40% to ₹754 in early trade on Monday after it secured an export order worth about ₹42 crore.
Oberoi Realty has bought nearly 15 acres in Gurugram for ₹597 crore to develop a luxury housing project, marking its foray into Delhi-NCR. The Mumbai company said it has struck a deal with Ireo Residences and others to acquire the land in Sector 58, Gurugram.
As many as 13 lakh shares of Prataap Snacks exchanged hands.
At 10 am the Sensex was down 116.01 points or 0.18% at 65,678.72, and the Nifty was down 21.50 points or 0.11% at 19,710.30.
Australian stock exchange operator ASX said it has hired Tata Consultancy Services to overhaul its clearing and settlement software after ditching a much-criticised blockchain-based effort.
L&T Technology Services has announced a collaboration with chipmaker Nvidia to develop software-defined architectures for medical devices focused on endoscopy, aiming to enhance image quality and scalability of products.
The FTSE Global Equity Index has included Mankind Pharma in its large cap category.
Tata Consultancy Services said it will determine on November 25 the names and entitlement of shareholders who will be eligible to participate in its buyback. The company plans to buy back up to over 4.1 crore fully paid-up equity shares with a face value of ₹1 each at ₹4,150 per share, for an aggregate amount not exceeding ₹17,000 crore.
Cipla has received a warning letter dated 17 November from the United States Food and Drug Administration (USFDA) for the routine current good manufacturing practices inspection conducted at its Pithampur manufacturing facility between 6 and 17 February.
The Sensex and Nifty opened marginally lower amid mixed global cues. The Sensex was down 18.49 points or 0.03% at 65,776.24, and the Nifty was up 0.60 points at 19,732.40.
Major gainers on the Nifty included Hindalco Industries, NTPC, Divis Labs, Apollo Hospitals and HCL Technologies. Axis Bank, Asian Paints, Kotak Mahindra Bank, Cipla and SBI Life Insurance were among the losers.
"The new regulatory measures from the RBI have certainly made everyone anxious and NBFCs will now do well to closely monitor their margins. The regulator is wary of multiple loans to individuals that are mostly happening in the digital lending space where the end use of the loan isn't always crystal clear.
“I think most of the established NBFCs and banks are mindful of it and exercise fair control on their portfolio. Today, credit decisions rely heavily on data from the bureau and hence I believe there is no need to panic. The RBI must be having more data analytics and insight, maybe proactively drawing attention to the issue, which is a good idea since it’s better to err on the side of caution."
The rupee opened flat at 83.27 against the US dollar on Monday.
Benchmark indices are trading flat in the pre-opening session.
The Sensex was down 28.68 points or 0.04% at 65,766.05, and the Nifty was down 39.10 points or 0.20% at 19,692.70.
Talbros Automotive Components has received multi-year orders worth ₹580 crore from domestic and overseas customers across, including export orders worth ₹415 crore and multiple EV orders worth ₹270 crore from leading OEMs.
