Market Highlights: Sensex, Nifty end higher amidst positive global cues; Titan, Apollo Hosp shine; Bajaj Finserv shed | Mint
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Business News/ Markets / Live Blog/  Market Highlights: Sensex, Nifty end higher amidst positive global cues; Titan, Apollo Hosp shine; Bajaj Finserv shed
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Market Highlights: Sensex, Nifty end higher amidst positive global cues; Titan, Apollo Hosp shine; Bajaj Finserv shed

Share Market Updates: The Indian stock market continued its forward momentum on Friday amidst positive global cues and encouraging quarterly earnings reports. Titan, Tata Motors and Apollo Hospitals led the charts, while SBI Life dragged. All sectors ended in the green.

Sensex Today | Share Market Updates: Global cues and earnings reports to drive sentiments (iStock)Premium
Sensex Today | Share Market Updates: Global cues and earnings reports to drive sentiments (iStock)

Indian stock markets followed the overnight stock market rally in the US anded ended around 0.45% higher with all sectors contributing to the rally on Friday. Realty and Media jumped the most, while heavyweights like Bank and IT gained around half a per cent.

Asian equities extended a global rally Friday as investors were caught up in a wave of optimism that the Federal Reserve has finished its cycle of interest rate hikes, with eyes now on the release of US jobs data.

India's October services PMI fell to a 7-month-low mark of 58.5 indicating weakening business sentiments amid rising inflation, according to a monthly survey revealed on Friday.

The rupee depreciated 4 paise to 83.26 against the US dollar in the morning session on Friday, tracking a strong American currency overseas and sustained foreign fund outflows.

03 Nov 2023, 03:35:17 PM IST

Indices end the week higher snapping a two-week losing streak as Sensex and Nifty gain around 0.4% on Friday; Realty, Media shine

Indian shares advanced on Friday and snapped a two-week losing streak, supported by a rise in auto stocks on strong earnings and information technology (IT) stocks on U.S. Federal Reserve's rate pause.

The NSE Nifty 50 index gained almost 100 pts to end at 19,230 while the S&P BSE Sensex rose 282 pts to close the week at 64,363. Indices rose more than a per cent this week.

IT stocks rose 1%, extending gains from Thursday after the Fed held rates steady on Wednesday with a less hawkish-than-expected monetary policy stance. IT companies earn a significant share of their revenue from the U.S.

Apollo HOspitals jumped 5%, followed by Adani Ports, ONGC, Eicher Motors and LTIM which climbed more than 2% each. Bajaj Finserv and Dr Reddy shed around 1.5% each and were the biggest laggards.

All sectoral indices climbed with Media and Realty leading the rally. Heavyweight indices like Bank and IT also jumped more than 0.5% and contributed to the positive trend.

Asian shares advanced on Friday after Wall Street roared higher on bets that market-rattling interest rate hikes are coming to an end.

Tokyo exchange remained shut for holidays. South Korean shares rose more than 1% as battery makers and online platform firms rallied on upbeat earnings.

Hong Kong stocks clocked their best one-day performance in three months, while China stocks also rose as a private survey showed the country's services activity picked up in October.

China's blue-chip CSI300 Index ended 0.8% higher, while the Shanghai Composite Index gained 0.7%. Hong Kong benchmark Hang Seng Index surged 2.6%. For the week, the CSI300 Index and the Hang Seng Index added 0.6% and 1.5%, respectively.

Europe's benchmark STOXX 600 rose and was set for its best week since March, led by automobile stocks as optimism around a likely end to monetary policy tightening by major central banks boosted sentiment.

The UK's FTSE 100 remained higher and was on track for weekly gains, buoyed by the gains in medical products maker Smith Nephew shares on a rating upgrade, while Bank of England's (BOE) decision to hold interest rates also lifted sentiment.

Sensex at Close
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Sensex at Close
03 Nov 2023, 03:21:36 PM IST

Sensex Today Live: Mankind share price dips more than 1%- Analysts expect domestic growth to bounce back after some softness seen in Q2

Share Price of Mankind Pharma Ltd dipped more than 1% in the intraday trades on Friday. While some softness in the domestic growth visible reflected in the September quarter performance declared a few days back has been a cause of concern. Analysts expect the growth to improve moving forward.

Mankind Pharma felt the impact of softness in acute segment sales during the September quarter that pulled down the domestic growth even as overall performance was lifted by continued traction in the Chronic portfolio, some price hikes and higher exports as per analysts. (Read More)

03 Nov 2023, 03:11:29 PM IST

Knight Frank-NAREDCO Real Estate Sentiment Index Q3 2023 drops by four points to 59 compared to the previous quarter 

 

The 38th edition of the Knight Frank-NAREDCO Real Estate Sentiment Index Q3 2023 (July-September 2023) report cited that the Current Sentiment Score has scaled down from previous quarter’s 63 to 59 in Q3 2023. The sudden outbreak of conflict in Middle East and rising regional tensions between nations have weakened the sentiment currently.

  • The Current Sentiment Score remained in the optimistic zone even as it decreased from 63 in Q2 2023 to 59 in Q3 2023. The score's decline can largely be attributed to the sudden outbreak of conflict in the Middle East and rising regional tensions between nations. Stakeholder confidence was dampened as they feared an impact on Indian businesses despite the stable domestic economy.
  • The Current Sentiment Score signifies stakeholders' current outlook in comparison to the preceding six months. The Current Sentiment Score's increase reinstates stakeholder confidence in the Indian economy and the real estate sector performance.

03 Nov 2023, 03:07:17 PM IST

Sensex Today Live: Titan Company Q2 Results: Net profit increases by 10.1% to ₹915 crore

Titan Company Q2 Results: ThetCompany clocked a 10.1% YoY rise in net profit to 915 crore.

03 Nov 2023, 02:50:30 PM IST

Sensex Today: India tops in workplace burnout survey with 59% reporting symptoms

A new survey on employees' well-being has revealed that India topped the rank in workplace burnout. According to the McKinsey Health Institute’s 2023 survey, "India respondents reported the highest rates of burnout symptoms at 59%".

Younger workers aged 18 to 24, employees from smaller companies, and all workers who are nonmanagers reported higher burnout.

Cameroon, a country in Central Africa reported the lowest rates of burnout symptoms at workplaces at 9%. The global average of burnout was 20% but cognitive, exhaustion, and emotional impairment varied. (Read More)

03 Nov 2023, 02:49:00 PM IST

Sensex Today Live: India's October services PMI sinks to 7-month low as rising inflation dampens business sentiments

India's services Purchasing Managers' Index (PMI) for October plummeted to a 7-month low of 58.5, reflecting a downturn in business sentiment amidst mounting inflationary pressures, as per the latest monthly survey unveiled on Friday.

The September services PMI soared to a 13-year high at 61 but dropped to 58.4 in October, indicating the slowest expansion rate since March, according to S&P Global India Services data.

The Services PMI in India serves as a key metric for assessing the economic well-being of the services sector. Updated monthly, the PMI provides insights into current and future business conditions. A sector's Purchasing Manager's Index (PMI) score can range from 0 to 100. A reading above 50 signals sectoral expansion, while a figure below 50 signifies contraction. (Read More)

03 Nov 2023, 02:18:04 PM IST

Sensex Today: Prism Johnson posts Q2 profit on one-time gain

Indian building materials maker Prism Johnson reported a second-quarter profit on Friday, compared to a loss a year ago, helped by a one-time gain from the sale of some assets.

Consolidated profit after tax was at 1.83 billion rupees ($21.98 million) in the quarter ended Sept. 30. The cement and tiles maker had reported a loss of 826.2 million rupees in the same quarter a year earlier.

The firm recognised a one-time gain of 3.9 billion rupees from the sale of a mining lease and land in the state of Andhra Pradesh to Chennai-based Ramco Cements.

The firm reported a narrower loss of 380.8 million rupees before the exceptional item and taxes from a loss of 952 million rupees a year ago, on strong cement sales. (Reuters)

03 Nov 2023, 02:17:42 PM IST

Sensex Today Live: Patel Engineering Q2 profit rises 63 pc to ₹32 cr

Integrated infrastructure and construction services firm Patel Engineering on Friday reported 63 per cent rise in consolidated net profit at 32.1 crore for the quarter ended September 30, 2023.

The company had posted a profit of 19.7 crore for the year-ago period, Patel Engineering said in a statement.

Revenue from operations increased to 1,021.3 crore from 830.3 crore in the year-ago period.

"With a surge in revenue and profitability, we've showcased our adaptability and resilience in the face of economic challenges," company's Chairman & Managing Director Rupen Patel said. (PTI)

03 Nov 2023, 01:54:11 PM IST

Sensex Today: India's Bayer Cropscience post jump in Q2 profit as rainfall recovery aids demand

Bayer Cropscience, the Indian unit of German drug and pesticide maker Bayer AG, reported a more than 37% jump in quarterly profit on Friday as rainfall recovery in September aided the sale of its farm products.

Profit rose to 2.23 billion rupees ($27.62 million) during the three months ended Sept. 30 from 1.63 billion rupees a year earlier.

Revenue from operations grew more than 11% to 16.17 billion rupees.

The firm also declared a dividend of 105 rupees per share. (Reuters)

03 Nov 2023, 01:46:07 PM IST

Sensex Today Live: ESAF Small Finance Bank IPO: Issue subscribed 70% on day 1, so far; retail portion fully booked

ESAF Small Finance Bank IPO subscription status: ESAF Small Finance Bank IPO has been subscribed 70% on day 1, so far. ESAF Small Finance Bank IPO is open for subscription today (Friday, November 3), and will close on Tuesday, November 7. ESAF Small Finance Bank IPO price band has been fixed in the range of 57 to 60 per equity share of face value of 10. ESAF Small Finance Bank lot size is 250 equity shares and in multiples of 250 equity shares thereafter. (Read More)

03 Nov 2023, 01:28:27 PM IST

Sensex Today: Titan jumps almost 2% in today's session and is among the leaders in S&P Sensex 30 stock charts

Titan
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Titan
03 Nov 2023, 01:25:04 PM IST

Sensex Today Live: Gold prices to get support as central banks maintain historic buying in Q3: World Gold Council

Gold buying by central banks around the world has been at a historic pace lifting the gold demand (excluding OTC) in the July-September quarter at 1,147 tonnes, 8% higher than its five-year average, a latest report said.

According to the World Gold Council’s Q3 Gold Demand Trends report, net central bank buying reached 337 tonnes, which was the third strongest quarter in its data series. However, it failed to break the record 459 tonnes in Q3 2022.

Central banks have bought a net 800 tonnes of gold year-to-date (YTD), the highest on record for that nine-month period. (Read More)

03 Nov 2023, 01:09:33 PM IST

Sensex Today Live | Share Market Updates: MRF Ltd net profit surges 361% to ₹571.9 crore in Q2

MRF Ltd on Friday reported a 361% year-on-year (YoY) increase in net profit to 571.9 crore for the second quarter of FY24 from 123.9 crore in the same quarter last year. The profit figure missed Bloomberg analysts' estimate of 587.8 crore.

Revenue rose by 6% to 6,087.56 crore during the quarter from 5,719 crore last year. The board of directors also declared an Interim dividend of 3 per equity share. (Read More)

03 Nov 2023, 12:56:54 PM IST

Sensex Today Live: NTPC produces 19 MT coal from captive mines in Apr-Oct; supply at 20 MT

NTPC has produced 19.117 million tonnes (MT) of coal from its captive mines during the April-October period of the ongoing fiscal, a year-on-year rise of 86 per cent.

It had produced 10.282 MT in the nine-month period of the preceding 2022-23 financial year, the company said in a statement on Thursday.

In addition, NTPC has also achieved a coal dispatch of 20.225 MT till October 31, FY24, up 94 per cent over the supplies made in the year-ago period. (PTI)

03 Nov 2023, 12:54:35 PM IST

SEnsex Today: KPI Green Energy shares rise 7% after company signs 500 MW solar park deal with Uttarakhand government

KPI Green Energy, one of the leading players in the renewable energy sector, saw its share price rise 7% to reach 885 apiece in Friday's early trade deals on multiple positive developments. The company said on Thursday that it has signed a Memorandum of Understanding with the Government of Uttarakhand along with Advait Infratech Limited for the development of a 500 MW solar park under the Captive Power Producer (‘CPP’) segment.

The company also informed that Sun Drops Energia Private Limited, a wholly owned subsidiary of KPI Green Energy, received a new order for executing the Wind-Solar Hybrid Power Project for 2.10 MW capacity, comprising of 2.10 MW wind and 1 MW solar capacity, from CTX Life Sciences. (Read More)

03 Nov 2023, 12:37:54 PM IST

Sensex Today Live: Oil Heads for Second Weekly Drop as Israel War Still Contained

Oil was set for a second weekly loss as the Israel-Hamas war remained contained and clouds appeared on the demand horizon.

Global benchmark Brent held near $87 a barrel, after jumping 2.6% on Thursday amid dollar weakness and hints the Federal Reserve is done with tightening. West Texas Intermediate traded below $83. Israel said its troops encircled Gaza City and that a cease-fire wasn’t on the table, even as US President Joe Biden called for a pause to allow time to free more hostages.

There are still risks the conflict could spread and affect oil markets, however. Iran-backed Houthi rebels in Yemen have launched rockets and drones at Israel, while Saudi Arabia’s military is also clashing with the militant group. (Bloomberg)

03 Nov 2023, 12:36:24 PM IST

Sensex Today Live | Share Market Updates: Dr Lal PathLabs share price rises more than 6%

Share Price of Dr Lal PathLabs Ltd gained more than 6% in morning trades on Friday. Dr Lal PathLabs impressed with its Q2 performance as volume growth rebounded and financial performance came better than many analysts' expectations.

Dr Lal PathLabs Q2 reported net profit at 111 crore was up 53% year-on-year. The earnings before interest tax depreciation and amortisation (Ebitda) improved 23.6% year-on-year to 178 crore. The revenues at 601 crore grew 12.6% year-on-year. (Read More)

03 Nov 2023, 12:16:34 PM IST

Sensex Today: BDO India views on implications of IBBI's discussion paper on amendments to norms to streamline corporate resolution process

To streamline the corporate resolution process and prevent delay in implementation of the resolution plan, the Insolvency and Bankruptcy Board of India (IBBI) on Wednesday proposed amendments to some regulations.

The insolvency and bankruptcy board has proposed to structure the corporate resolution plan into two parts -- inflow of funds and distribution to various stakeholders -- under the Insolvency and Bankruptcy Code (IBC).

Bhrugesh Amin, Partner, Business Restructuring Services, BDO India: Proposed changes in regulation 38 clarifying minimum entitlement to dissenting financial creditors has been a long-awaited change. This will motivate CoC members in ensuring timely decision-making and value maximization within the provisions of law.

Regulation 18(1) Frequent and regular meeting of the CoC will support CIRP processes in better and timely decision-making. This will all help in deciding on critical matters which are stuck in litigation and timely completion of CRI processes as envisaged under IBC. This would have further strengthened the process if it would have been combined with changes in regulation mandating the participation of senior members from FC.

03 Nov 2023, 12:12:05 PM IST

Sensex Today Live: Yellen says the US economic relationship with China must consider human rights and national security

Washington wants to build an economic relationship with Beijing that takes into account national security and human rights and is fair to both sides, Treasury Secretary Janet Yellen said on Thursday.

In laying out the Biden administration's economic approach toward the Indo-Pacific region, the country's top financial official said Washington does not seek to decouple from China, the region's largest economy and the world's second largest next to the United States. But it wants to diversify by investing at home and boosting links with trusted countries in the region.

“We've put forward a vision of the world grounded in values we share with these allies and partners and in which there is also a healthy and stable economic relationship between the United States and China," Yellen said in a speech hosted by the Asia Society less than two weeks before leaders of the Asia-Pacific Economic Cooperation countries will gather in San Francisco for an annual meeting. (AP)

03 Nov 2023, 12:01:27 PM IST

Sensex at Noon: Indices continue to remain in green with Sensex adding more than 300 and Nifty around 100 pts; Tata Motors, Apollo Hospitals and Eicher Motors shine

Sensex at Noon
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Sensex at Noon
03 Nov 2023, 12:00:24 PM IST

Sensex Today Live | Share Market Updates: ESAF Small Finance Bank IPO raises ₹135 crore from anchor investors

ESAF Small Finance Bank's IPO garnered a capital of 135.15 crores from anchor investors on Thursday, November 2, with an allocation of 2,25,24,998 equity shares at 60 per share. The ESAF Small Finance Bank IPO began its subscription on Friday, November 3, and will conclude on Tuesday, November 7. The price band for the IPO has been fixed in the range of 57 to 60 per equity share, with a face value of 10.

03 Nov 2023, 11:44:36 AM IST

Sensex Today Live: InCred Equities recommendations on Marico Ltd - Fairly-priced -HOLD - Upgrade

Harsh SHAH and  Rohan KALLE of InCred Equities views on Marico Ltd: Fairly-priced

MRCO IN / MRCO.NS | HOLD - Upgrade | INR532 tp:INR550

Mkt.Cap:US$8,270m | Avg.Daily Vol:US$10.5m | Free Float:40.5%

■ Domestic 2Q volume/value sales remained subdued at 3%/(3%) yoy, impacted by weak consumption and increased aggression from local players.

■ There was some recovery in the second half of Sep 2023 while FY24F gross/EBITDA margin guidance stands upgraded by 100/50bp, respectively.

■ Marico appears fairly-priced at 46x/42x FY24F/25F P/E, respectively. We upgrade our rating to HOLD with a higher TP of Rs550 (41x Sep 2025F EPS).

03 Nov 2023, 11:35:43 AM IST

Sensex Today: Ambuja Neotia Group acquires Tree of Life Resorts & Hotels

Kolkata-based Ambuja Neotia Group has acquired Gurugram-based Tree of Life Resorts & Hotels for an undisclosed sum. Tree of Life, which launched in 2009, runs boutique hotels in 14 locations in India and has an inventory of about 200 rooms.

Ambuja Neotia is primarily focused on real estate development but also has interests in healthcare, education and other hospitality ventures. The Tree of Life brand will be under Ambuja Neotia Hotel Ventures Limited, a subsidiary of Ambuja Neotia Holdings Private Limited. (Read More)

03 Nov 2023, 11:23:15 AM IST

Sensex Today Live: India’s Steel Expansion Plans Threatened by Scrap Metal Export Restrictions

Potential restrictions on scrap metal shipments from the European Union as it seeks to reduce industrial emissions may make it harder for India to grow its steel sector.

Countries are recycling more scrap domestically to reduce the use of pollutive feedstocks like iron ore in the steel-making process. For India, which is scrap deficient due to a relatively small consumer base, imports are key to its target of doubling steel production capacity to 300 million tons by the end of the decade.

Producers are following policy developments such as the EU’s update of its waste shipment rules, which came after China tightened scrap metal exports. The bloc’s proposal recommends that waste is only sent to countries outside the Organization for Economic Cooperation and Development group if they can meet strict environmental criteria. (Bloomberg)

03 Nov 2023, 10:57:11 AM IST

Sensex Today: Tight range in India bond yields sustain ahead of more supply

Indian government bond yields drifted in a narrow range in the early session on Friday, as major focus remained on debt supply, while the market broadly ignored a further drop in U.S. yields.

The 10-year benchmark bond yield was at 7.3169% as of 10:25 a.m. IST, after ending at 7.3245% in the previous session.

"It is clear that local issues continue to remain on top priority, rather than global fundamentals, and hence even as oil and U.S. yields have come down sharply from their highs, bonds are unable to break the trading range," a trader with a primary dealership said. (Reuters)

03 Nov 2023, 10:52:12 AM IST

Sensex Today: Apollo Hospitals among biggest gainers as it jumps more than 4% in early trading

Apollo Hospitals
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Apollo Hospitals
03 Nov 2023, 10:32:42 AM IST

Sensex Today Live: Rupee falls 2 paise to 83.26 against US dollar in early trade

The Indian rupee depreciated 2 paise to 83.26 against the US dollar in the morning session on Friday, tracking a strong American currency overseas and sustained foreign fund outflows. The local currency opened at 83.23 a dollar as compared to previous close of 83.24.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01% lower at 106.11. (Read More)

03 Nov 2023, 10:31:57 AM IST

Sensex Today Live | Share Market Updates: JK Lakshmi Cement shares zoom 6.7% as net profit grows 55% in Q2

During Friday's early trading session, JK Lakshmi Cement, affiliated with the JK Organization, experienced a significant 6.77% increase in its stock price, reaching a four-month peak of 719.90 per share. This surge was driven by the company's strong Q2FY24 performance. At 10:00 AM, the stock was trading with a 5.17% gain at 709.

The company unveiled its Q2FY24 results after-market hours on Thursday, revealing a notable 55% rise in its consolidated net profit, totaling 96 crore. In the corresponding period of the previous year, the company reported a net profit of 62 crore, while in the preceding June quarter (Q1FY24), the net profit stood at 80 crore. (Read More)

03 Nov 2023, 10:21:15 AM IST

Sensex Today: LKP Securities: HERO MOTOCORP LIMITED - Q2 FY24 Result Update - BUY

Hero posted healthy set of numbers in Q2, led by pick up in volume performance, supported by sound ASP growth. Margins grew well as the input cost benefits, cost savings, operating leverage and product mix helped the cause. Going forward, we expect decent volume trajectory with the XTech variants launched last year, new launches coming up in the 125 cc segment, scooters Zoom & Destini and premium bike launches under the Hero as well as the HD brand. Expansion of the EV scooter in more cities soon will further add to the steam. Demand levers in the rural markets are positive, despite low monsoons on account of a strong El Nino. Festive season has started on a strong wicket and is expected to continue in similar fashion. Hero’s high stake (37.5%) in Aether Energy to manufacture Electric Scooters and battery swapping platform shall give Hero a good fillip in the EV 2W space. Profitability would improve through better product mix on Hero’s premiumization theme under which the focus of the company is now on the premium bikes and X-Tech variants, price hikes, cost saving programs like LEAP-2 and operating leverage stemming from improving volumes. EV spending may impact margins in the initial period till we see an expansion of scale and volumes. We therefore maintain our BUY rating on the stock with FY 25E target price of 3,579 (valued at 14x v/s current multiple of 12x). Improving return ratios, zero debt and dividend yield of 3.3% in FY 23 gives investors an additional comfort.

03 Nov 2023, 10:13:32 AM IST

Sensex Today Live: Paragon Fine share price makes a stellar debut; stock lists at 125% premium at ₹225 on NSE SME

Paragon Fine and Speciality Chemicals made an impressive debut on the NSE SME today, with its share price starting at 225 per share, marking a significant 125% increase from the IPO issue price of 100. The IPO's price band was set between 95 to 100, allowing investors to bid for a minimum of 1200 shares and in multiples thereof. (Read More)

03 Nov 2023, 09:58:04 AM IST

Sensex Today Live | Share Market Updates: FTX founder Sam Bankman-Fried convicted of defrauding cryptocurrency customers

FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president — hit rock bottom Thursday when a New York jury convicted him of fraud for stealing at least $10 billion from customer and investors.

After the monthlong trial, jurors rejected Bankman-Fried’s claim during testimony in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world’s second-largest crypto exchange, collapsed into bankruptcy a year ago. (AP)

03 Nov 2023, 09:52:16 AM IST

Sensex Today Live: Q2 Results today: Zomato, Titan, IndiGo, UCO Bank, IDFC, MRF, among 187 companies to announce Q2 earnings

A slew of firms have released their Q2 results this week, and today about 187 companies will be releasing their earnings for the September quarter. Zomato. Titan, InterGlobe Aviation, MRF, IDFC Ltd, Crompton Greaves Consumer Electricals, JM Financial, and UCO Bank are among the handful of major companies releasing their earnings for the quarter and half year ended September 2023. (Read More)

03 Nov 2023, 09:46:48 AM IST

Sensex Today: Despite Tata Steel struggling in early trading, Metal index is among the biggest gainers as it climbs around 0.8%

Metal index
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Metal index
03 Nov 2023, 09:36:18 AM IST

Sensex Today Live | Share Market Updates: Tata Motors shares climb on upbeat JLR outlook, earnings boost

Shares of Indian automaker Tata Motors rose as much as 4.6% on Friday after the company raised the full-year margin outlook for luxury unit Jaguar Land Rover and reported its fourth consecutive quarter of profit.

03 Nov 2023, 09:30:38 AM IST

Sensex Today Live: Apple holiday forecast disappoints on iPad, wearables demand; shares slip

Apple on Thursday gave a sales forecast for the holiday quarter that missed Wall Street expectations, hurt by weak demand for iPads and wearables, sending its shares down about 3% in after-hours trading. Chief Executive Tim Cook insisted that the company's new iPhone 15 models were doing well in China, seeking to ease Wall Street worries that Apple was losing market share to a resurgent Huawei and other local smartphone sellers. Apple's revenue from China dipped 2.5% overall in the fiscal fourth quarter ended Sept. 30, though Cook said it grew after accounting for foreign-exchange rates.

Chief Financial Officer Luca Maestri told analysts on a conference call that sales for the current quarter, which includes the Christmas holidays and when Apple typically has its biggest sales of new iPhone models, will be similar to the previous year. Wall Street had expected a forecast for a rise in sales of 4.97% to $122.98 billion. (Reuters)

03 Nov 2023, 09:25:58 AM IST

Sensex Today: Sensex gains 300 pts and open, while Nifty is 100 pts higher; Tata Motors, Apollo Hospitals shine

Sensex at Open
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Sensex at Open
03 Nov 2023, 09:12:12 AM IST

Sensex Today Live | Share Market Updates: Pre-market comment by Choice Broking: State of indecision between the bullish and bearish forces

Mandar Bhojane, Research Analyst, Choice Broking: The Sensex and Nifty indices are expected to open slightly higher on November 2, as suggested by the GIFT Nifty trends, pointing towards a positive start with an expected gain of 160 points.

Looking at the daily chart, the Nifty50 has formed a DOJI candlestick pattern, reflecting a state of indecision between the bullish and bearish forces. Currently, the index is positioned in the middle of the range, which spans from 19,050 to 19,200, awaiting a decisive breakout in either direction.

The markets kicked off the weekly expiry day on a strong note, starting above 19,000, but these higher levels weren't sustained for long, and most of the gains were retraced. However, in the latter part of the trading session, PSU Banks, Metal stocks, and certain heavyweight stocks took charge, leading to a recovery that culminated in the index closing at 19,133.25, showing a gain of 144.10 points. Mid and Small-cap stocks outperformed the frontline stocks with gains exceeding 1.30%.

In the case of the Bank Nifty, a doji candlestick formed at the bottom, which could indicate a potential reversal signal. Should the price manage to close above the 43,300 level, it may pave the way for further advances to 43,700 and 44,000. Conversely, the 42,400 and 42,250 levels are crucial support levels to watch for on the downside.

03 Nov 2023, 09:03:17 AM IST

Sensex Today Live: Sensex jumps almost 500 pts at the start of the preopen session; TCS, TaMo, Adani Green to be in focus in today's session

Sensex at Preopen
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Sensex at Preopen
03 Nov 2023, 08:56:14 AM IST

Sensex Today: Geojit Financial Services views on today's market: The positive global sentiments can embolden the bulls in India to stage a comeback

Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: Market history tells us that sharp up moves in the market happen at unexpected times. It appears that this truism is turning out to be true. The Fed decision to hold rates and refrain from making hawkish indications has emboldened the bulls to make a strong comeback in the mother market US with S&P rising 1.9% yesterday. Good earnings numbers and expectations that the interest rate will remain stable for now and will decline in H2 of CY2024 have facilitated market recovery.

The positive global sentiments can embolden the bulls in India to stage a comeback. Since FIIs are short in the market, short covering is a possibility.

Investors should remember that the buy-on-dips strategy has worked in this market. It is likely to work again. High-quality large-caps in financials, automobiles and capital goods are on a strong wicket. Mid-cap IT is doing well.

03 Nov 2023, 08:48:09 AM IST

Sensex Today: FTX co-founder Sam Bankman-Fried found guilty of fraud and money laundering

Sam Bankman-Fried has been found guilty on all seven counts related to fraud and money laundering. He is the co-founder and former CEO of crypto exchange FTX, , once the world’s second-largest crypto exchange, and trading firm Alameda Research. A New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion, AP reported.

Jurors rejected Bankman-Fried’s claim that he had never committed fraud or meant to cheat customers before FTX collapsed into bankruptcy a year ago. (Read More)

03 Nov 2023, 08:39:14 AM IST

Sensex Today Live: Buy or sell: Vaishali Parekh recommends buying these 3 stocks today

Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher recommends these stocks for day trading:

Buy Sobha Ltd at 747.75 with a stoploss of 735 and a target price of 790.

Buy Metropolis Healthcare Ltd at 1,456.80 with a stoploss of 1,425 and a target price of 1,540.

Buy Hindustan Copper Ltd at 145.70 with a stoploss of 142 and a target price of 156. (Read More)

03 Nov 2023, 08:24:59 AM IST

Sensex Today Live | Share Market Updates: Cello World IPO allotment finalised; check latest GMP

The Cello World IPO share allotment has been concluded, and investors who participated in the issue can verify their allotment status on the registrar's portal, Link Intime India Private Ltd. The basis of allotment will determine the number of shares allocated to each investor, and this information will be available in the IPO allotment status. Refunds will be processed for applicants who did not receive any shares, while those allotted shares will receive them in their demat accounts. (Read More)

03 Nov 2023, 08:18:55 AM IST

Sensex Today Live: Coal India's Apr-Oct output up 12% at 394 MT, supply to power sector rises 4.5%

State-run Coal India on Thursday reported a 12% rise in its output to 394 million tonne (MT) for FY24 so far, surpassing its annual growth target of 11%.

PM Prasad, chairman and managing director, Coal India, expressed confidence in reaching the production target of 780 MT for the current fiscal. He highlighted the company's progress from its inception in 1975 with 79 MT to achieving 703 MT in FY23.

In October, the mining giant's production rose 15% on year to 61 million tonne. (Read More)

03 Nov 2023, 08:17:36 AM IST

Sensex Today: IRFC Q2 Results: Net profit drops 9% to ₹1,549 crore, revenue up 16% YoY; dividend declared

On Thursday, November 2, Indian Railways Finance Corporation (IRFC) disclosed its fiscal 2023-24 (Q2FY24) results, revealing a 9% decline in net profit to 1,549.87 crore, down from 1,714.28 crore in the corresponding period last year. During the second quarter of the current fiscal year, the company's revenue from operations surged by 16%, reaching 6,766.32 crore, compared to 5,809.8 crore in the year-ago period. (Read More)

03 Nov 2023, 07:59:43 AM IST

Sensex Today Live: Berger Paints India Q2 results: Net profit rises nearly 33% at ₹292 crore

Berger Paints India's second-quarter earnings were below expectations due to a weak monsoon and delayed festivities, despite a nearly 33% year-on-year increase in consolidated net profit, amounting to 292 crore ($35.1 million) for the quarter ending September 30. This result fell short of analysts' estimate of 308 crore as per LSEG data. Furthermore, Berger's revenue experienced a 3.6% growth, marking its slowest growth in 12 quarters, and also missed analysts' estimates. (Read More)

03 Nov 2023, 07:49:06 AM IST

Sensex Today Live | Share Market Updates: Adani Green Energy in talks to borrow $1.8 billion loan

Adani Green Energy, the renewables firm of Indian billionaire Gautam Adani, is in talks with a group of foreign lenders to borrow as much as $1.8 billion, according to people familiar with the matter.

The loan proceeds will be used to build new capacity in solar and wind projects, said the people, who asked not to be named as the matter is private.

The banks involved include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank and Standard Chartered Plc, they said. A representative of Adani Group declined to comment. (Read More)

03 Nov 2023, 07:47:59 AM IST

Sensex Today: Stocks to Watch: Tata Motors, TCS, Adani Green, HPCL, IndiGo, Berger Paints, IRFC, Coal India, JK Lakshmi Cement, and Suzlon Energy

  • Tata Motors: Collaborating with Jaguar Land Rover to develop premium EVs. Q2 net profit of 3,783 crore, revenue at 1,05,128 crore.
  • TCS: Facing a $450 million annual loss due to Postbank branch closures after its 2020 acquisition.
  • Adani Green Energy: Seeking a $1.8 billion loan from foreign lenders for solar and wind projects.
  • HPCL/Tata Power: Instructed to cut production by 50% in Mumbai to combat rising pollution.
  • InterGlobe Aviation: IndiGo's Chief Commercial Officer for cargo resigns citing personal reasons.
  • Berger Paints: Q2 earnings below estimates due to weak monsoon and delayed festivities.
  • IRFC: 9% drop in net profit at 1,549.87 crore, 16% revenue growth at 6,766.32 crore.
  • Coal India: Output increases 12% to 394 million tonnes, targeting 780 million tonnes for the fiscal year.
  • JK Lakshmi Cement: Q2 consolidated profit after tax up 55.15% to 95.87 crore, revenue at 1,574.53 crore.
  • Suzlon Energy: Q2 net profit jumps 45% to 102 crore, with revenue at 1,417 crore despite a 35 crore loss. (Read More)

03 Nov 2023, 07:39:32 AM IST

Sensex Today Live: Tata Motors to leverage JLR platform for premium EV play

Tata Motors Ltd’s passenger electric vehicle subsidiary on Thursday said it will enter a strategic partnership with Jaguar Land Rover, the wholly-owned British luxury vehicle arm of the group, to leverage its electrified modular architecture (EMA) platform and develop its premium pure EV series, Avinya.

For the first time since the Tatas acquired JLR, the Indian passenger vehicle firm will be sharing the new platform and utilizing the strengths of JLR to fast-track the development of new vehicle types. (Read More)

03 Nov 2023, 07:33:34 AM IST

Sensex Today Live | Share Market Updates: The $450 mn void staring at TCS

Tata Consultancy Services (TCS) Ltd boss K. Krithivasan is battling a new problem that is not the company’s making: Making up for a nearly $450 million loss in annual business.

Earlier this week, Deutsche Bank announced that it will shut almost half of the 550 branches of Postbank over the next two years as Germany’s biggest bank sees more customers prefer online banking than walking into a branch.

It was only in November 2020 that Tata Consultancy Services (TCS) bought Postbank Systems AG, the IT firm of Postbank, as the Mumbai-based technology services firm looked at doing more business with its German client. (Read More)

03 Nov 2023, 07:29:55 AM IST

Sensex Today Live: Wall Street leaps toward its best week of 2023 on hopes for a halt to rate hikes

Wall Street roared higher again on Thursday with hopes the Federal Reserve may finally be done with its market-rattling hikes to interest rates.

The S&P 500 leaped 1.9% for its fourth straight winning day. It's already up 4.9% this week and on pace for its best week in nearly a year.

The Dow Jones Industrial Average jumped 564 points, or 1.7%, and the Nasdaq composite climbed 1.8%.

Stocks around the world rallied after the Federal Reserve opted against raising its main interest rate late Wednesday. It’s already jacked up rates furiously since early last year in hopes of slowing the economy and hurting financial markets enough to starve high inflation of its fuel.

More importantly for financial markets, investors also took comments by the Fed’s chair to mean that recent jumps in longer-term Treasury yields were acting like rate-hike substitutes and could obviate the need for more increases by the Fed. (AP)

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