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Business News/ Markets / Live Blog/  Sensex jumps 488 pts, Nifty ends near 17,800; Titan gains 10%
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Sensex jumps 488 pts, Nifty ends near 17,800; Titan gains 10%

Sensex closed at 59,677.83, up 488.10 points, or 0.82% on Thursday; Nifty closed at 17,790.35, up 144.35 or 0.82%; Auto led gains along with realty. Titan and Tata Motors were among top gainers.

Stock market Today: Sensex, Nifty, closed with gains of 0.82%.Premium
Stock market Today: Sensex, Nifty, closed with gains of 0.82%.

Benchmark indices ended Thursday with gains of 0.82%. Sensex closed with 20 stocks in green, and 10 in red, while Nifty saw 33 advances and 17 declines. 

07 Oct 2021, 04:44:09 PM IST

On market closing: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Markets continue to remain choppy and range-bound. Traders should avoid taking positions in either direction unless 17,950 is conquered on the upside or 17,400 breaks on the downside."

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07 Oct 2021, 04:43:01 PM IST

On market outlook: Gaurav Udani, CEO & founder, ThincRedBlu Securities

"Nifty closed positive at 17790, up by 145 points. Since the last few trading sessions, Nifty has been facing strong resistance in 17,800-17,900 range. It is important for Nifty to close above 17,950 with higher-than-average volumes to resume its upward journey. Fresh long should be initiated only on closing above 17,950 or near its support range of 17,580-17,620 with strict stop loss."

07 Oct 2021, 04:40:53 PM IST

On market closing: Yash Gupta, Equity Research Analyst, Angel One Ltd

“S&P BSE Realty hit a 52-weeks high, up by 5.83%, of 4,239 on Thursday. It was up by 30% in the last one month. Today Sobha Limited, up by 15.7% on the back of the announcement of best-ever pre-sales volumes for the Q2FY21, along with Macrotech Developers Limited (Lodha) reported very strong pre-sales. We have seen very strong demand after the covid first wave and it even continued after the second wave of covid, we are heading towards the festival season and we are expecting this pre-sales momentum to continue as home loan interest are at its decades lows. We have a buy rating on Sobha Ltd and a Neutral rating on Godrej Properties." 

07 Oct 2021, 04:36:30 PM IST

Market closing

Titan, M&M and IndusInd Bank were top gainers on Sensex, on Thursday; Dr Reddy's, HDFC and Nestle were top drags. On Nifty, Tata Motors, Titan, and M&M led gainers, while ONGC, Dr Reddy's and Coal India were top losers. Titan saw a near 10% gain over the day after it indicated a strong recovery in demand in the second quarter, while Reliance Industries rose after its retail arm said it would launch 7-Eleven stores in India. Among sectoral indices on Nifty, realty auto and IT chiefly supported market gains. Among broad indices the voltility index eased about 7%. Global indices also marked gains. The rebound in markets has come ahead of the RBI policy announcement on Friday.

Sensex heatmap at close.
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Sensex heatmap at close.
07 Oct 2021, 03:24:37 PM IST

Nifty top gainers and losers

Nifty gainers and losers.
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Nifty gainers and losers.
07 Oct 2021, 03:22:33 PM IST

Sensex heatmap

Sensex heatmap at 3:20 pm.
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Sensex heatmap at 3:20 pm.
07 Oct 2021, 03:11:41 PM IST

Vakrangee ties up with LendDenClub to extend investment options to rural India

Vakrangee Limited (VL) has tied up with peer-to-peer (P2P) lending platform LendDenClub to provide investment and borrowing options to its customers in remote parts of the country.  With the integration, customers of Vakrangee can invest and borrow through LenDenClub seamlessly. Under the partnership, Vakrangee, through its Nextgen Kendras and BharatEasy app, will offer lending and borrowing platforms in remote parts of the country. Borrowers will get hassle-free Instant digital loans, even in the remotest parts of the country, the company said in a release.

07 Oct 2021, 02:54:02 PM IST

NatWest pleads guilty to money laundering offences

State-backed Natwest has pleaded guilty to money laundering, the first British lender to admit guilt to such offences. NatWest pleaded at a hearing at Westminster Magistrates' Court on Thursday. Prosecutors at the Financial Conduct Authority (FCA) alleged the bank failed to monitor suspect activity by a client that deposited about 365 million pounds ($503 million) in its accounts over five years, of which 264 million was in cash. The criminal action, first announced by the FCA in March, was the first against a bank under a 2007 money laundering law. (Reuters)

07 Oct 2021, 02:47:18 PM IST

Infosys, with ATP Tour, launches match analysis tool with new features 

Multinational IT firm Infosys has, in partnership with the ATP Tour, launched a suite of match stats and analysis tools to bring fans, coaches and media closer to the action of men’s professional tennis. From today, fans will be able to level-up their experience of ATP Tour matches by layering on statistical insights from across more than 60 ATP Tour events each season, according to statement issued by Infosys. The new experiences launched include: MatchBeats, which looks deeper into highs and lows of the match with point-by-point analysis studying shot speeds, rally lengths and auto generated insights (it spots important trends using filters, from every winner to unforced errors); rally analysis, which dissects how rallies happen and which ones create an impact (it identifies patterns of play that matter most and studies performance on short, medium, and long rallies); and  3-D CourtVision, which allows fans to relive every point via an immersive 3-D court experience (it analyzes ball trajectory and key statistics from multiple viewing angles).

 

07 Oct 2021, 02:21:52 PM IST

Apparel maker Gokaldas Exports raises ₹300 crore through QIP

Apparel maker and exporter Gokaldas Exports Ltd has raised 300 crore from institutional investors through a so-called qualified institutional placement offering (QIP), a person aware of the development told Mint. The company had launched the QIP offering on 4 October at a floor price of 194.58 apiece. “The company has successfully managed to raise 300 crore through the QIP from marquee institutional investors, including funds managed by Goldman Sachs, HSBC, Nippon and others. The share sale saw a strong demand of two times and shares were sold at the floor price, as against the usual QIP practice of offering a discount on the floor price," said the person cited above. (Livemint)

07 Oct 2021, 02:17:56 PM IST

NTPC in pact with EDF for cooperation in international power sector

Électricité de France S.A. (EDF), one of the world’s leading power sector companies headquartered in Paris, France, and NTPC Ltd,  have signed a Memorandum of Understanding (MoU) to explore potential power project development opportunities in West Asia, Asia, Europe and Africa, according to a statement issued on Thursday.  The MoU was signed by Ujjwal Kanti Bhattacharya, director (projects) from NTPC. The companies will also collaborate for knowledge sharing, research and development, technical services and consultancy assignments globally, according to the statement.

07 Oct 2021, 02:01:28 PM IST

World food prices climb for second month in September -FAO

World food prices rose for a second consecutive month in September, driven by increases in cereals and vegetable oils, to remain about a third above their level a year ago, the United Nations food agency said on Thursday. The Rome-based Food and Agriculture Organization (FAO) also raised slightly its projection of global cereal production in 2021, to 2.800 billion tonnes from 2.788 billion tonnes estimated a month ago. FAO's food price index, which tracks international prices of the most globally traded food commodities, averaged 130.0 points last month compared with a revised 128.5 for August. On a year-on-year basis, prices were up 32.8% in September. (Reuters)

07 Oct 2021, 01:58:09 PM IST

Cement-Q2FY22 result preview: Angel One Ltd

Cement demand stood better in Q2FY22 on a year-on-year basis with the economy reopening gradually post covid 2.0 as the pace of vaccination accelerated. Q2 is traditionally a weak quarter with a softer cement demand owing to monsoon and related issues. While Q1FY22 witnessed slower demand momentum led by covid 2.0 disruptions, demand gained momentum in July 2021, (though it was softer in Aug 2021), and further picked up in September 2021 with better non-trade demand. The non-trade channel witnessed good demand as various central government projects related to infra continued at a good pace. However, state governments projects got impacted due to lockdown restrictions and shortage of funds. In some areas, particularly in the Eastern region, demand was soft owing to the non-availability of sand as many State Governments put restrictions on sand mining during monsoon. While State governments projects have gained traction since economic reopening, dealers believe that the speedy revival of these projects are critical for cement demand to sustain going forward.

Top result pick: Dalmia Bharat, ACC, Ambuja Cements, JK Lakshmi, and Orient Cement

07 Oct 2021, 01:53:12 PM IST

On Sona BLW's performance: Milan Desai, Lead Equity Analyst, Angel One Ltd

“Sona BLW is one of India’s leading automotive technology companies that derives ~40% of its revenues from battery electric vehicles (BEVs) and hybrid vehicles, and is the best play on the electrification trend in the Indian automobile industry. The company provides EV differential assemblies and gears, BSG systems and EV traction motors to global customers. About 75% of their income from sale of goods in FY21 came from end-use in the overseas markets. The global BEV segment has been the fastest growing and is expected to maintain a high growth rate, which is positive for Sona BLW. The company’s capabilities have enabled them to gain market share across its products especially for products related to EV/BEV. They also have strong market share ranging from 55-90% for differential gears for PV, CV and tractor OEMs in India. Given the traction in the BEV/Hybrid Vehicle space, we believe that Sona BLW will continue to command a higher multiple which is justified by ~47% earnings CAGR over FY21-24E. We remain positive on the future growth prospects of the company and have a BUY rating on the stock with a target price of 719."

 

07 Oct 2021, 01:47:39 PM IST

ICICI Bank executes Secured Overnight Financing Rate linked transactions

ICICI Bank today announced that it has executed its first term loan and cross-currency swap derivative transactions linked to Secured Overnight Financing Rate (SOFR). The transactions were carried out with a corporate client through the Bank’s International offices. These transactions indicate the Bank’s preparedness towards a smooth transition from USD LIBOR (London Interbank Offered Rate) to transactions linked to Alternative Reference Rates (ARR). In January 2021, the Bank had executed its first interbank money market transaction linked to SOFR, which has been identified as the replacement for USD LIBOR. (Read here)

07 Oct 2021, 01:45:51 PM IST

Emerging market stocks surge, FX edges higher as oil pressure eases

Most emerging market stocks and currencies rose on Thursday as oil prices retreated from recent highs, although the prospect of US monetary policy tapering and an economic slowdown kept sentiment muted. MSCI's index of emerging market (EM) stocks jumped 1.8% after sinking to a six-week low earlier, while currencies added 0.2% after oil prices dipped on an unexpected rise in U.S. inventories. Hong Kong stocks surged 3% as the announcement of plans for a new northern metropolis supported real estate stocks, and helped them move past recent jitters over a debt crisis in the sector. Most emerging market currencies benefited from a retreating dollar, as risk appetite improved slightly after heightened volatility through the week. (Reuters)

07 Oct 2021, 01:41:15 PM IST

Bharti Airtel share: HDFC Securities give 'buy on dips' tag to this stock

Bharti Airtel share price has been showcasing uptrend for last one month. The telecom stock shot up from 658.20 per share to 698.70 apiece in last one month (today at 12:45 PM today on NSE) — logging around 6 per cent rise in this period. In fact, HDFC Securities is expecting this rally in the telecom stock to continue in next two quarters. In its latest report on Bharti Airtel shares, the brokerage has advised investors to add this stock in their portfolio when it comes in 669 to 681 range. The brokerage further advised to add more on dips to 605 to 617 price band. (Read here)

07 Oct 2021, 01:29:35 PM IST

Edelweiss's ETFs turned index funds open to investors

The two equity exchange-traded funds (ETFs) that Edelweiss mutual fund had converted into index schemes last month have opened for investors on Thursday. According to a report from Moneycontrol, Nifty 50 ETF, which was converted to a Nifty 50 index fund and Nifty 100 Quality 30 ETF which was converted to a Nifty 100 Quality 30 index fund are now open to investors. The fund house had given a month’s time for investors for switching out of these funds, if they did not approve of the changes, as per the exit option rules.

07 Oct 2021, 01:17:15 PM IST

European stocks rally as energy prices cool

European stocks rallied in early trading on Thursday as easing oil and gas prices offered some relief to investors worried about runaway inflation. The pan-European STOXX 600 index rose 1.1% in broad-based buying to reverse weekly losses, with miners , automakers and utilities in the lead. Oil prices dropped for a second session, while European gas futures also fell back from record highs. There was also some relief on the US debt ceiling front after US Senate Republican Leader Mitch McConnell announced plans to extend the borrowing limit into December. (Reuters)

07 Oct 2021, 01:12:22 PM IST

This multibagger stock up 140% in 6 months. ICICI Securities sees more upside

Macrotech Developers Limited (Lodha) shares have given multibagger returns so far since its listing in April. The realty multibagger stock has surged over 140% in the last six months. Shares of Macrotech rose 7% in Thursday's deals after reporting a strong pre-sales for the second quarter, along with an improvement in collection. (Read here)

07 Oct 2021, 01:09:03 PM IST

Rakesh Jhunjhunwala buys stake in Canara Bank in Q2

Canara Bank has reported that Rakesh Jhunjhunwala bought 1.60% stake, and LIC increased its stake by 0.70% in the lender in Q2.

07 Oct 2021, 12:56:45 PM IST

Realty firm Puravankara accelerates digitization with IBM, SAP

IBM Corp on Thursday said real estate firm Puravankara Ltd is collaborating with IBM Global Business Services (GBS) to fuel tech-led innovations in its operations by adopting RISE with SAP. Through this partnership, Puravankara will reinvent its processes for superior business outcomes. IBM will integrate the SAP Cloud environment with the real estate firm’s cloud environment to harness cloud and ensure seamless enterprise functions. (Read here)

07 Oct 2021, 12:55:21 PM IST

UPL ssked to pay for forum on South Africa pollution

Indian producer of chemicals used in agriculture UPL Ltd will be asked to pay for the establishment of a forum that will keep the public informed about developments relating to a spill of hazardous chemicals in the South African city of Durban. The so-called multi stakeholder forum will be set up by the country’s environment department and will request that UPL pay for it under the “polluter pays principle," the department said in a request for public comment on the forum’s terms of reference on Tuesday. UPL has been accused by the department of illegally storing hazardous chemicals that were released into a residential area and a river system after its warehouse in the South African city of Durban was looted and set ablaze in July in a spate of rioting. Beaches were closed, more than 3 tons of dead fish were found and residents reported air pollution. (Bloomberg)

07 Oct 2021, 12:53:04 PM IST

Nikkei snaps 8-day losing streak on bargain-hunting, but Topix slips

Japan's Nikkei share average rose on Thursday after eight consecutive sessions of losses, as signs of progress in U.S. political negotiations over debt ceiling offered a catalyst for bargain-hunting but the broader Topix failed to maintain gains. Investors bought back battered shares that had been beaten down recently on worries central banks might pare stimulus faster than expected due to rising concerns about higher inflation worldwide. The Nikkei average added 0.54% to 27,678.21 but the broader Topix failed to sustain earlier gains to end 0.12% lower at 1,939.62, marking the ninth consecutive day of losses, which is its longest losing spell since 2012. Decliners outnumbered gainers by a rough ratio of 3 to 2, also pointing to a still fragile market sentiment. (Reuters)

07 Oct 2021, 12:40:16 PM IST

Bank Nifty-Weekly option report: Axis  Securities

Bank NIfty-Weekly Option 
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Bank NIfty-Weekly Option 
07 Oct 2021, 12:33:33 PM IST

Index contribution

Index contribution: Sensex
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Index contribution: Sensex
07 Oct 2021, 12:21:58 PM IST

Paytm in talks with ADIA, BlackRock for IPO stakes

India’s Paytm is in talks with sovereign wealth funds and financial firms to become anchor investors in its upcoming blockbuster initial public offering, according to people familiar with the matter. State-backed wealth investors Abu Dhabi Investment Authority and Singapore’s GIC Pte are among those weighing bidding to participate in the IPO, the people said, asking not to be identified as the information is private. (Bloomberg)

07 Oct 2021, 12:21:07 PM IST

Nifty gainers and losers

Nifty gainers and losers.
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Nifty gainers and losers.
07 Oct 2021, 12:06:33 PM IST

Sensex heatmap

Sensex heatmap at 12:00 pm
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Sensex heatmap at 12:00 pm
07 Oct 2021, 12:05:52 PM IST

Sensex at noon

Sensex at 12:00 pm
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Sensex at 12:00 pm
07 Oct 2021, 12:04:58 PM IST

Nifty at noon

Nifty at 12:00 pm
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Nifty at 12:00 pm
07 Oct 2021, 11:43:56 AM IST

Tata Motors share price: Analyst sees 25% upside from current levels

Tata Motors share price today climbed to its new 52-week high of 368.40 apiece and became second most Nifty-50 gainer today in early morning trade session. The Tata group stock, which is a Rakesh Jhunjhunwala portfolio stock too, opened today with an upside gap of 5.05 per share and went on climb its 52-week new high logging around 9 per cent rise from its yesterday's close at NSE. However, stock market experts are still bullish on the counter and expecting further upside in this auto stock.(Read here)

07 Oct 2021, 11:37:01 AM IST

BSE seeks clarification from cos

The BSE has sought clarification from M.K. Exim (India) Ltd, Compucom Software Ltd, IG Petrochemicals Ltd, and Sainik Finance & Industries Ltd with reference to significant movement in price so as “to ensure that investors have latest relevant information about the company" and their interests are protected.

07 Oct 2021, 11:28:53 AM IST

TCPL to hold board meeting over results on 22 Oct

Tata Consumer Products Ltd (TCPL) has informed the BSE that a meeting of the board of directors of the company is scheduled on 22 October, which among other things will consider and approve the unaudited standalone and consolidated financial results of the company for the quarter and the half-year ended 30 September, and to take on record the limited review reports of the auditors thereon.

07 Oct 2021, 11:20:58 AM IST

BOJ gloomier on regional economies due to auto output disruptions

The Bank of Japan cut its economic assessment for five of the country's nine regions on Thursday as supply constraints disrupted factory output of cars and other products, clouding the outlook for the export-reliant economy. In a sign of the broadening damage from the global chip and parts shortage, the central bank slashed its view on output for four regions including the Tokai central Japan area—home to auto giant Toyota Motor Corp. "Output is stagnating due to shortages in auto parts," the BOJ said in a quarterly report on regional economies. Recent rises in energy prices are also adding pressure on manufacturers, though it will help consumer inflation accelerate towards the BOJ's 2% target. (Reuters)

07 Oct 2021, 11:09:58 AM IST

Raj Rayon resolution plan gets NCLT nod

Raj Rayon Industries Ltd has informed the exchanges in a regulatory filing on Thursday that the resolution plan submitted by the SVG Fashions Pvt. Ltd under the corporate insolvency resolution process of the company has been approved by the National Company Law Tribunal, Ahmedabad Bench. The company said the order issued on 5 October was received on 7 October.

07 Oct 2021, 10:56:08 AM IST

NFRA has no mandate over small businesses, alleges ICAI

Accounting rule-maker and self-regulator of professionals the Institute of Chartered Accountants of India (ICAI) has alleged audit regulator National Financial Reporting Authority (NFRA) has no jurisdiction over small businesses to decide whether or not they need to be audited. The view expressed by ICAI president Nihar N. Jambusaria point to the tension between the two agencies. While ICAI is a statutory body for regulating the profession of chartered accountancy in the country and is under the administrative control over the ministry of corporate affairs, NFRA was set up under the Companies Act to recommend accounting and auditing policies and standards to government and to enforce compliance of accounting and auditing standards. (Livemint)

07 Oct 2021, 10:53:26 AM IST

Global update: Heena Naik, research analyst-currency, Angel One Ltd

- Euro-zone bond yields have surged as a government bond sell-off extended on inflation concerns and potential monetary policy tightening.

- Investors remained on edge regarding US debt ceiling negotiations, even as the top US Senate Republican Mitch McConnell said his party would allow an extension of the federal debt ceiling into December, a move that would head off a historic default with a heavy economic toll.

- US private payrolls increased more than expected in September as covid-19 infections started subsiding, allowing Americans to travel, frequent restaurants and re-engage in other high-contact activities.

- The safe-haven dollar held close to a 14-month high as a surge in energy prices fuelled worries that inflation could crimp economic growth while also prodding the Federal Reserve to act sooner to normalize policy.

- A coal shortage in India has led to soaring costs for steel producers as they compete with other industrial consumers for supply.

07 Oct 2021, 10:50:00 AM IST

Rakesh Jhunjhunwala portfolio: These Tata stocks are top Nifty gainers today

Rakesh Jhunjhunwala portfolio: Tata Group stocks Titan Company and Tata Motors are the top Nifty gainers in Thursday's early deals. Titan Company share price today opened with an upside gap of 107.60 apiece and went on to hit lifetime high of 2347.40 per share levels. In fact, after TCS (Tata Consultancy Service), Titan Company today has become the second Tata group company to hit 2 trillion market capitalisation. (Read here)

07 Oct 2021, 10:37:36 AM IST

On Sobha Ltd: Yash Gupta, Equity Research Analyst, Angel One Ltd

“Sobha India reported best-ever sales volume pre-sales in Q2FY22, we maintain our Buy call. Sobha Ltd reported pre-sales of 1.34 million sq. ft up by 51% as compared with 0.89 of Q2FY21. Bengaluru market again top performer for the company as sales was up by 48% at 0.8 million sq. ft, while other markets such as Gurugram and Kochi were at 0.18 million sq. ft, and 0.11 million sq.ft respectively. The company has reported total sales of 1,030 crore, up by 49% as compared to Q2FY21 of 6,899 crore. Sales realization has come down year-on-year due to change in sales mix at 7,637. We have seen very strong demand in geographies such as Bengaluru, Gurugram, and Pune during the quarter and we expect sales momentum to continue for the coming quarters on back of festival seasons and lowest home loan interest rate. We continue with our buy call on Sobha Ltd."

07 Oct 2021, 10:20:38 AM IST

Ramkrishna Forgings signs MoU with US based co to develop EV components

Ramkrishna Forgings, one of the leading suppliers of rolled, forged and machined products, on Thursday announced that it has signed a Memorandum of Understanding (MOU) with a US based technology partner for the development of Electric Vehicle Powertrain components for the Indian EV market.

07 Oct 2021, 10:18:38 AM IST

SBI Cards, Birlasoft, 6 other stocks to be included in F&O segment

The National Stock Exchange (NSE) on Wednesday in a circular announced the inclusion of eight new securities/stocks that will be made available for trading in the Futures & Options (F&O) segment from October 29, subject to fulfilment of eligibility criteria of Quarter sigma computation cycle of October 2021. (Read here)

07 Oct 2021, 10:09:19 AM IST

On markets opening: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"The Nifty has opened with a gap but it needs to close above 17950 for a positive momentum to set in. If it breaks 17,400 we will witness a bear market. Hence it is a range bound between 17,400 and 17,950. Until we do not get past either end of this range, the movements are going to be choppy and sideways."

07 Oct 2021, 10:07:29 AM IST

RBI's securitization, asset transfer norms positive, says Fitch Ratings

The Reserve Bank of India’s (RBI) securitization and asset transfer guidelines, announced last month, are positive for the structured finance market, but credit neutral for Fitch Ratings' rated Indian asset-backed securities transactions, the rating agency said. (Read here)

07 Oct 2021, 09:57:07 AM IST

Company Update-ONGC: ICICI Securities

Key events

· Domestic natural gas price was revised from US$1.8/mmbtu to US$2.9/mmbtu on a GCV basis from October 1. A sharp increase of 62% augurs well for realisation of upstream companies

· Oil prices have also been on an upward trend for the last five quarters and are currently at nearly three-year high of US$83/bbl

 

Key triggers for future price performance

· Sustained higher crude oil prices and gas realisations can result in better profitability. If prices sustain at higher level, there is further upside potential to earnings and our target price

· Ramp-up in oil & gas production from newer fields

· Value unlocking from subsidiaries and other investments & lower holding company discount on investments

· High dividend yield and payout ratio

07 Oct 2021, 09:51:56 AM IST

Technical Outlook: ICICI Securities

 The Nifty started the session on a positive note. However, profit booking in the vicinity of life time high dragged index lower. As a result, the daily price action formed a bearish engulfing candle that encompassed Tuesday’s trading activity, indicating pause in upward momentum. In the process, Nifty midcap and small cap mirrored benchmark and settled 1% lower

The index has taken three sessions to retrace 80% of past five sessions decline (17,948-17,452). The lack of faster retracement on either side signifies prolonged consolidation in the 18,000-17,400 range amid stock specific action that would make market healthy after 15% rally seen over past two months. Key point to highlight since April 2021 is that, the Nifty has not corrected for more than 4-5% from recent swing highs. We expect index to maintain same rhythm. Hence, extended correction from hereon should not be construed as negative instead dips should be capitalized on to accumulate quality stocks as we enter the Q2FY22 earning season.

07 Oct 2021, 09:50:07 AM IST

Market outlook: ICICI Securities

Equity benchmarks snapped past two sessions winning streak and concluded volatile session on a negative note. The Nifty settled Wednesday's session at 17,646, down 176 or 1%. The market breadth turned negative with A/D ratio of 1:1.8. Sectorally, all major indices ended in red weighed by metal, pharma and IT

07 Oct 2021, 09:37:24 AM IST

Market opens

Sensex opened at 59,632.81 up 443.08, or 0.75%, while Nifty opened at 17,810.55, up 164.55, or 0.93%. The benchmark indices opened on expected lines as Asian markets, following global cues of easing crude prices and progress in US debt-ceiling impasse. All scrips on the Sensex were in the green, while only three scrips showed declines on Nifty. Pre-opening analyses indicated that the markets could be volatility during the day. 

Sensex heatmap at 9:30 am.
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Sensex heatmap at 9:30 am.
07 Oct 2021, 09:30:56 AM IST

Titan becomes second Tata Group firm to hit ₹2 trillion mcap

Titan Co. Ltd on Thursday became the second Tata Group firm to touch 2 trillion market capitalization to achieve this milestone with stock surging a record high. The stock hit a fresh record high of 2,343 on BSE, up 9% from its previous close while its market cap stood at 2.07 trillion. At 9.30 am, the scirp was trading at 2,327.60, up 8.4%. On Wednesday, the firm reported that it witnessed a strong recovery in demand in the September quarter and its sales in most of its divisions have either reached above or close to pre-pandemic levels. (Livemint)

07 Oct 2021, 09:29:28 AM IST

Shiba Inu Now 12th-Biggest Crypto After 367% Rise in Just a Week

Shiba Inu, a cryptocurrency started just last year, continues to soar after Elon Musk tweeted about his puppy. The SHIB token has risen more than 70% in the past 24 hours as of 10:55 a.m. Hong Kong time, breezing past the likes of Litecoin and Avalanche’s AVAX to become the 12th-biggest cryptocurrency by market value, according to CoinGecko pricing. The move comes days after Musk tweeted a picture of his puppy, Floki. SHIB, which uses a meme of the Shiba Inu breed of Japanese hunting dogs, is up about 367% in the past seven days amid enthusiasm from that post. (Bloomberg)

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