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Sensex gains 452 points, Nifty closes over 18,150 helped by auto, IT, metal

Stock market Today: Sensex, Nifty have traded steadily in green since opening. (REUTERS)Premium
Stock market Today: Sensex, Nifty have traded steadily in green since opening. (REUTERS)

  • Benchmark Indian indices, after opening at record highs consistently rose through the day and closed at fresh highs. On a day that saw Asian stocks mixed, with traders weighing the impact of elevated inflation on economic recovery and awaiting to earnings reports, stagflation woes affected US stocks.  The Indian indices seemed unaffected by the global cues as they cut loose from the beginning and hit fresh highs supported chiefly by Tata Motors. The Auto index on Nifty registered over 3% gains on the day.

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Benchmark indices closed on Wednesday high in green with auto stocks getting a fillip from the news of TPG Capital funding an EV venture of Tata Motors. Expectations of good showing of IT stocks also helped the markets. Infosys, Wipro, and Mindtree, among others, are companies set to announce their quarterly results later today. Aviation stocks also gained on the back of the government's announcement of lifting capacity caps from 18 October. Results announced today will have an impact on the showing of the markets as it heads for a long weekend with 15 October closed for Dussehra.

13 Oct 2021, 04:10:27 PM IST

Rupee recovers 15 paise to close at 75.37 against US dollar

The rupee on Wednesday rebounded by 15 paise to close at 75.37 (provisional) against the US dollar following a rally in domestic equities and weak American currency in the overseas markets. In addition, lower crude prices also supported the rupee sentiment, forex deals said. At the interbank forex market, the rupee opened strong at 75.29 against the greenback. During the session, the domestic unit swung between 75.19 and 75.51. On Tuesday, the rupee had closed at 75.52 against the dollar. (PTI)

13 Oct 2021, 04:09:14 PM IST

Infosys, Wipro beat estimates 

13 Oct 2021, 04:07:39 PM IST

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

"The Nifty was successful in closing above the hurdle of 18,050. This should allow the index to scale up higher to 18,250 as the first pit stop and then to 18,400. Since the volumes are healthy and the momentum is fierce, dips and corrections should be utilized to accumulate long positions."

13 Oct 2021, 04:05:52 PM IST

On market closing: Gaurav Udani, CEO & Founder, ThincRedBlu Securities

“Nifty made a new lifetime high of 18,197 today. It closed at 18,160, up by 170 points since yesterday's close. Volumes in Nifty were higher than its average, which is a good sign for longs. Nifty has a strong support in the 18,050-18,110 range. Traders can use buy on dips strategy with strict stoploss for 18,250-18,300 as targets."

13 Oct 2021, 04:04:30 PM IST

On currency markets: Raj Deepak Singh, head-derivatives, ICICI Securities

“Indian Rupee appreciated amid weakness in Dollar and rise in risk appetite in the domestic markets. Further, rupee gained strength on improved macroeconomic data. India CPI data showed that inflation eased to 5-month low of 4.35% in September and remained within RBI’s comfort zone. However, sharp gains were prevented on surge in crude oil prices and as investors remained vigilant ahead of FOMC meeting minutes and inflation data from US. Rupee may trade in the range of 75.10 to 75.80 in next couple of session."

13 Oct 2021, 03:55:24 PM IST

Markets closing

The festive spirit appeared to have taken hold of the markets as they continued to rise for the fifth consecutive session, on Wednesday, even as Asian and global peers were tepid on inflation signals and the likelihood of tapering by the US government. Auto stocks had a field day on Wednesday, primed by reports of proposed investment in the EV arm of Tata Motors. The report, possibly also bolstered by the conglomerate's winning bid for Air India earlier, had a strong showing through the day. Tata Motors made about 20% gains over the day. Other Tata stocks were following closely ranking at the top of the list of firms that had more than 10% gains on the market. Results of IT biggies Infosys and Wipro will be watched and will likely be factored in on Thursday.

Sensex heatmap.
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Sensex heatmap.
13 Oct 2021, 03:54:38 PM IST

Puravankara to invest ₹420 cr for two projects; eyes ₹1,250 cr revenue

Realty firm Puravankara Ltd will invest around 420 crore for construction of two residential projects in Mumbai and Bengaluru and is targeting over 1,250 crore sales revenue over the next four years from these properties on the back of rising housing demand. The company on Wednesday launched two projects—‘Provident Palm Vista’ located near Shil Phata, Mumbai with one million square feet of saleable area and ‘Tivoli Hills’ located near Devanahalli, Bengaluru having a total saleable plot area of about 1.4 million square feet. "We are introducing our affordable housing brand 'Provident' in Mumbai market. We will build this project in JDA (Joint Development Agreement) model," Puravankara chief executive officer Abhishek Kapoor said. (PTI)

13 Oct 2021, 03:33:42 PM IST

Nifty, Sensex at 03:31 pm

Nifty, sensex at 3:31 pm
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Nifty, sensex at 3:31 pm
13 Oct 2021, 03:27:07 PM IST

Government cuts customs duty, agriculture cess on the edible oils: report

The government has cut customs duty and agriculture cess on the edible oils, according to a report on CNBC-TV19. Customs duty cut has been effected on crude sunflower oil to nil and customs duty on refined sunflower oil has been brought down to 17.5%. Customs duty on crude palm oil has also been removed.

13 Oct 2021, 03:22:32 PM IST

Exim Bank targets $7 bn financing of project exports over 5 years

Export-Import Bank of India (Exim Bank) targets to achieve financing of $7 billion of project exports over the next five years with the government announcing fund infusion of 1,650 crore in the National Export Insurance Account (NEIA) to boost project exports. The NEIA Trust, set up by the Ministry of Commerce and Industry, in March 2006, provides export credit insurance cover for promoting medium and long-term project exports from India. (PTI)

13 Oct 2021, 03:16:19 PM IST

Govt withdraws travel advisory that added covid-19 related additional checks, restrictions on those arriving from the UK

13 Oct 2021, 03:13:36 PM IST

InMobi to acquire London-based Appsumer

Mobile advertising solutions firm InMobi on Wednesday said it has signed a definitive agreement to acquire Appsumer, a London-based performance insights platform for mobile app advertisers, for an undisclosed amount. The deal brings unified intelligence to mobile marketing and a deeper understanding of marketing effectiveness for InMobi. "Together, InMobi and Appsumer intend to build an operating system that makes understanding user acquisition funnels easier by using artificial intelligence (AI) to build predictive capabilities into the platform to help marketers grow more quickly," the statement said. (PTI)

13 Oct 2021, 03:08:26 PM IST

Sensex and Nifty at 3:05 pm

Sensex and Nifty at 3:05 pm
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Sensex and Nifty at 3:05 pm
13 Oct 2021, 03:03:50 PM IST

Broad market indices

Nifty Broad market indices at 3:00 pm 
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Nifty Broad market indices at 3:00 pm 
13 Oct 2021, 02:54:37 PM IST

Salman Khan jumps on to NFT bandwagon, to launch digital collectibles soon

Bollywood actor Salman Khan, on Wednesday, announced that he will soon launch non-fungible tokens or NFTs in partnership with BollyCoin. Earlier, actor Amitabh Bachchan had joined the metaverse.

13 Oct 2021, 02:45:13 PM IST

Aluminium futures gain on spot demand

Aluminium prices rose 0.14% to 245.25 per kg in futures trade on Wednesday as speculators built up fresh positions amid a positive trend in spot market. On the Multi Commodity Exchange, aluminium contracts for October delivery gained 35 paise, or 0.14%, to 245.25 per kg in a business turnover of 2,180 lots. Analysts said creation of fresh positions by traders on demand from consumer industries supported aluminium prices in futures market. (PTI)

13 Oct 2021, 02:41:54 PM IST

Jaguar Land Rover tests new blockchain tech to trace leather supply chain

Jaguar Land Rover is testing the use of secure blockchain technology to ensure full transparency within a leather supply chain. Jaguar Land Rover partnered with supply chain traceability provider Circulor, a UK leather manufacturer Bridge of Weir Leather Company and the University of Nottingham to trial the use of traceability technology in the leather supply chain. Apart from tracking compliance, the digital process enabled Jaguar Land Rover to assess the carbon footprint of its leather supply network. It uses the tech to trace its lowest carbon leather from farm to finished article. (Read here)

13 Oct 2021, 02:33:32 PM IST

Sensex, NIfty at 02:30 pm

Sensex and Nifty at 02:30 pm.
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Sensex and Nifty at 02:30 pm.
13 Oct 2021, 02:30:35 PM IST

Grasim executes PPA with Renew Surya Uday Pvt. Ltd

Grasim Industries Ltd has executed a supplemental share subscription agreement with Renew Green Energy Solutions Pvt. Ltd (Renew) and Renew Surya Uday Pvt. Ltd and a power purchase agreement (PPA) with Renew Surya Uday Pvt. Ltd, according to a filing made to exchanges.

13 Oct 2021, 02:22:38 PM IST

IndiGo sees Tata as 'formidable competition' after Air India deal

India's largest airline IndiGo expects Tata Sons to be "formidable competition" once the conglomerate finalises its $2.4 billion purchase of Air India from the government, the budget airline's chief executive said. (Read here)

13 Oct 2021, 02:15:23 PM IST

Rupee could fall further against US dollar, say experts

Amid fear of soaring inflation, crude oil price rise and stronger US dollar, the rupee has dipped to its 15-month low of 75.67 per dollar. And now, currency experts said that rupee may further go down and hit 77 per dollar levels in near term. (Read here)

13 Oct 2021, 02:10:57 PM IST

Prime Securities says approved issue of shares worth up to ₹403.8 million 

13 Oct 2021, 02:09:05 PM IST

Hurun Rich List 2021: Meet India's wealthiest self-made entrepreneurs under 40

IIFL Wealth and Hurun India today released the "IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2020", which shows the cumulative wealth of the country's wealthiest self-made entrepreneurs with a wealth of 1,000 crore, aged 40. (Read here)

13 Oct 2021, 02:04:37 PM IST

Sensex and Nifty continue strong momentum at 02:00 pm

Sensex, Nifty at 02:00 pm.
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Sensex, Nifty at 02:00 pm.
13 Oct 2021, 02:00:28 PM IST

Ten stocks topping gains on BSE

Tata firms have been leading gains in the market on Wednesday.

Gainers on BSE.
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Gainers on BSE.
13 Oct 2021, 01:54:56 PM IST

Thomas Cook India & SOTC ink a strategic agreement with Air Arabia to curate and distribute Air Arabia Holidays in India

13 Oct 2021, 01:48:43 PM IST

Top gainers and losers on NIfty

Nifty gainers and losers.
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Nifty gainers and losers.
13 Oct 2021, 01:46:08 PM IST

Volkswagen considering cutting up to 30,000 jobs: Handelsblatt

Volkswagen is considering cutting up to 30,000 jobs to cut costs and improve competitiveness with players such as Tesla, German daily Handelsblatt reported on Wednesday. It cited a presentation made by Volkswagen chief executive officer Herbert Diess to the supervisory board. "There is no question that we have to address the competitiveness of our plant in Wolfsburg in view of new market entrants," VW spokesperson Michael Manske said when asked for comment. "The debate is now under way and there are already many good ideas. There are no concrete scenarios." (Reuters)

13 Oct 2021, 01:39:07 PM IST

On GM Breweries: Yash Gupta, equity research analyst, Angel One Ltd

“GM Breweries reported numbers in line with market expectations for Q2FY22. GM Breweries limited reported consolidated revenue growth of 60% at 116 crores as compared to 72.61 crores in Q2FY21. The company has reported a profit before tax of 29.20 crore for Q2FY22 up by 94% from 14.99 crore in Q2FY21. Company has reported profit after tax of 21.85 crore as compared with 11.21 crore in Q2FY21. We have seen the gradual reopening of liquor shops, restaurants after the state-wise lockdown due to covid second wave. We expect the upcoming quarter will be better for GM Breweries as easing in covid 19 related restrictions continues."

13 Oct 2021, 01:35:36 PM IST

Broad market indices

India vix saw a decline by 0.45%.

Nifty broad market indices.
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Nifty broad market indices.
13 Oct 2021, 01:25:17 PM IST

Nifty has gained over 1%

Nifty at 1.20 pm.
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Nifty at 1.20 pm.
13 Oct 2021, 01:19:30 PM IST

India has highest number of crypto owners in the world at 10.07 crore: Report

Despite legal ambiguity on whether cryptocurrency investment is permitted in India and huge volatility in prices, India has the highest number of crypto owners in the world at 10.07 crore, according to broker discovery and comparison platform BrokerChooser. The US came in a distant second in terms of crypto owners at 2.74 crore, followed by Russia (1.74 crore) and Nigeria (1.30 crore). In comparison, the number of stock investors (Unique Client Codes) registered with the BSE in India has risen from 70 million in June 2021 to 80 million at present, according to data by the exchange. (Read here)

13 Oct 2021, 01:16:02 PM IST

Sensex hovers around the 60,700 mark

Sensex opened in the green well above previous close of 60,284.31 and has maintained the momentum to hover about the 60,700 mark. The index crossed into the all-time high territory of 60,700 earlier in the day. Mid-caps have powered the rise along with Auto sector.

Sensex at 1:11 pm
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Sensex at 1:11 pm
13 Oct 2021, 01:07:06 PM IST

Nestle revamps geographic structure, makes new board appointments

Nestle is overhauling its geographic structure, the world's largest food company said on Wednesday, creating new zones for North America and for Greater China. The maker of Nescafe instant coffee and KitKat chocolate bars also said it was changing its executive board to align with the new structure, which takes effect from January. Company veteran Chris Johnson, now head of Nestle's Asia, Oceania and sub-Saharan Africa zone (AOA), will retire from the executive board and be replaced by Remy Ejel, current head of Nestle's Middle East and North Africa business. (Reuters)

13 Oct 2021, 01:03:48 PM IST

Sensex, Nifty at 13:00 pm

Sensex was at 60,750.01, up 465.7 points, or 0.77%, at 01:00 pm  on Wednesday; NIfty was at 18,158.90, up 166.95, or 0.93%. The indices have consistently traded over the 60,000 mark and 18,000 mark respectively continuing bull run on fifth session.

Advances, declines on Sensex
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Advances, declines on Sensex
13 Oct 2021, 12:57:39 PM IST

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

# IMF has reiterated its GDP outlook for India at 9.5% in FY22 and 8.5% in FY23, on the back of steady recovery post the second wave of the covid-19 pandemic.

# India’s CPI inflation for September 2021 came in at 4.35%, compared with 5.30% in August  making it the lowest retail inflation print since April.

# US Treasury Secretary Janet Yellen views high US inflation transitory and said that she sees an 'isolated' shortage of goods in coming months.

# US Dollar Index is at one-year high amid rising expectations that the US Federal Reserve will announce a tapering of stimulus next month, potentially following with interest rate hikes by mid-2022.

# The ZEW indicator of economic sentiment in Germany slipped for the fifth month, the latest in a string of indicators showing supply bottlenecks holding back recovery.

# The number of Americans voluntarily quitting their jobs surged to a record high in August and there were more than 10 million vacancies, pointing to a tightening labor market that could help to keep inflation high as companies raise wages to lure workers.

# Federal Reserve Vice-Chairman Richard Clarida said that the bar for taper has all but met concerning the labor market. He further added that if recovery remains on track, gradual tapering of asset purchases concluding middle of next year may soon be warranted.

# UK Claimant Count Change (MoM) for September rose to -51.1K better than the August reading at -58.6K. At the same time, the ILO Unemployment Rate dropped to 4.5%, versus a previous reading of 4.6%, in line with expectations.

 

13 Oct 2021, 12:52:56 PM IST

Route Mobile's UAE arm to acquire stake in Kuwait-based Interteleco

Communication services firm Route Mobile's UAE-based arm Routesms Solutions FZE will acquire 49 per cent effective ownership in Kuwait-based Interteleco International for Modern Communication Services. "Routesms Solutions FZE, UAE... has signed a SPA for the acquisition of 49 per cent (legal shareholding/effective ownership) of the total outstanding equity share capital of Interteleco along with additional 41% of economic and beneficial interest (including profits, dividends, voting and distributions) of Interteleco," the company said in a regulatory filing on Wednesday. The acquisition will be for 16.29 crore and the total amount will be paid in two tranches. (PTI)

13 Oct 2021, 12:50:47 PM IST

Premier Polyfilm says approved availing of additional credit facilities from Kotak Mahindra Bank

13 Oct 2021, 12:50:23 PM IST

M&M commercial vehicles numbers for September

M&M vehicle numbers for September
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M&M vehicle numbers for September
13 Oct 2021, 12:39:20 PM IST

On market performance: Jyoti Roy, DVP-equity strategist, Angel One Ltd

“The Nifty has touched new all-time highs today on the back of optimism due to continued improvement in economic activities. There has been a significant improvement in economic activities led by services in September given further relaxation in restrictions due to significant decline in new covid cases. Expectation of further improvement in demand during the ongoing festive season along with strong FII and DII flows are also supporting the rally. However any further deterioration in the global energy crisis will lead to higher energy prices and coal shortages for a longer period of time which can have an adverse impact on growth and is one of the key risks to the current market rally."

13 Oct 2021, 12:36:21 PM IST

Sensex, Nifty at 12:31 pm

Indices at 12:31 pm.
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Indices at 12:31 pm.
13 Oct 2021, 12:25:17 PM IST

M-cap of BSE-listed companies at fresh record high of over ₹270.24 trillion

Helped by the ongoing rally in equities, the market capitalization of BSE-listed companies has reached a fresh record high of 27,024,154.49 crore in morning trade on Wednesday. (Read here)

13 Oct 2021, 12:16:58 PM IST

Man Group pulls in $5.3 billion to lift assets to another record

Man Group Plc pulled in $5.3 billion in new cash during third quarter, the highest for any quarter in at least a decade, showing the rising interest in the hedge fund industry. The world’s largest publicly traded hedge fund firm said assets hit yet another record of $139.5 billion, thanks mainly to inflows into its alternative funds and $400 million in performance gains. Inflows beat analyst forecasts. (Bloomberg)

13 Oct 2021, 12:12:54 PM IST

PM launches Gati Shakti

Next-generation infrastructure, multi-modal connectivity will boost India in 21st century, says Prime Minister Narendra Modi at the launch of Gati Shakti.

13 Oct 2021, 12:09:17 PM IST

Tomato turns costly on tight supply; prices soar to ₹72 per kg in metros

Tomato prices in retail markets of metro cities have shot up to 72 per kilogram on tight supply due to unseasonal rains in key producing states such as Madhya Pradesh and Maharashtra. Among the metros, the maximum increase in the retail price of tomato was seen in Kolkata where the key kitchen vegetable was ruling as high as 72 per kg on 12 October when compared with 38 per kg during the month-ago period. In Delhi and Chennai, retail prices of tomato increased to 57 per kg from 30 per kg and 20 per kg, respectively, compared with the month-ago period, according to data compiled by the consumer affairs ministry. (PTI)

13 Oct 2021, 12:06:13 PM IST

Sensex at noon

Sensex was at 60,674.39, up 390.08 points, or 0.65%, at 12:02 pm. Nifty was at 18,140.75, up 148.80 points, or 0.83%. The benchmark indices have seen steady progress through the day till time.

BSE Sensex at 12:00 pm
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BSE Sensex at 12:00 pm
13 Oct 2021, 12:02:41 PM IST

IndiaRF invests ₹310 crore in Primacy Industries

India Resurgence Fund (IndiaRF), a joint venture between Piramal Enterprises Limited and Bain Capital Credit, announced an equity investment of 310 crore in Primacy Industries, according to a statement issued by the company. The investment proceeds will be used to strengthen balance sheet of Primacy and to provide fresh capital to fuel its ambitious growth plans, the statement added.

13 Oct 2021, 11:56:51 AM IST

EaseMyTrip offers a flat ₹5,000 discount on return flight tickets to London

13 Oct 2021, 11:54:42 AM IST

Sensex, Nifty at 11:50 am

Source: BSE, NSE
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Source: BSE, NSE
13 Oct 2021, 11:41:08 AM IST

Bank stocks on BSE

Banking sector gainers and losers on BSE.
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Banking sector gainers and losers on BSE.
13 Oct 2021, 11:36:35 AM IST

Airline stocks on rise

Airlines stocks on BSE.
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Airlines stocks on BSE.
13 Oct 2021, 11:30:23 AM IST

Nifty auto

Nifty Auto at 11:30 am
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Nifty Auto at 11:30 am
13 Oct 2021, 11:24:01 AM IST

Commodities outlook: Angel One Ltd

Gold

Gold might remain under pressure as the dollar continued to firm on expectation of a tighter monetary policy by the US central bank.

Crude oil

Rising fuel demand given the recovery in economic activities amid tighter Oil supply and increasing natural gas prices might keep prices elevated. However, power outage in major economies is expected to weigh on market sentiments.

Copper 

Spike in Coal and gas prices following potential shortage worries amid China’s ongoing property market crisis might weigh on base metal prices.

13 Oct 2021, 11:19:04 AM IST

Top stock picks: Angel One Ltd

Source: Angel One Ltd
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Source: Angel One Ltd
13 Oct 2021, 11:19:04 AM IST

Oil falls on concerns of faltering economic growth to hit demand

Oil prices edged down on Wednesday on concerns that oil demand growth will fall as major economies suffer through inflation and supply chain issues though surging prices for power generation fuels such as coal and natural gas limited losses. Brent crude futures fell 11 cents, or 0.1%, to $83.31 a barrel at 0502 GMT, extending a 23 cent loss on Tuesday. US West Texas Intermediate (WTI) crude futures fell 11 cents to $80.53 a barrel after gaining 12 cents on Tuesday. (Reuters)

13 Oct 2021, 11:14:13 AM IST

Baring Asia sets up $3.2 billion ESG loan for investments

Baring Private Equity Asia has set up a sustainability-linked loan for up to $3.2 billion as the Hong Kong-based firm plans to boost ESG investments that are gaining popularity around the world. With initial commitments of about $1.5 billion, the credit facility will be subject to sustainability performance targets in areas such as gender diversity and climate change, according to a statement obtained by Bloomberg News. Baring will pay lower interest rate on the loan if it meets those goals, while using the proceeds to support its investment platform. Baring will require its portfolio of companies to build a better work environment for female talent to thrive, while also creating a long-term climate strategy to help cut emissions. (Bloomberg)

13 Oct 2021, 11:10:31 AM IST

NLC India making efforts to ramp up coal output

State-owned NLC India is making efforts to ramp coal output from one of its mines in Odisha to up to 10 million tonnes per annum this year. The company aims to increase the coal production to up to 20 million tonnes per annum (MTPA) from next year, according to a regulatory filing. In a late evening filing on Tuesday, NLC India said has taken steps to achieve the target of 6 MTPA from its original schedule of four MTPA during the current year. Considering the high demand of coal, the company is taking all out efforts to augment the coal production of Talabira Mine up to 10 MTPA for the current year and up to 20 MTPA from next year onwards. (PTI)

13 Oct 2021, 11:08:11 AM IST

IndiGo on rise

IndiGo on BSE.
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IndiGo on BSE.
13 Oct 2021, 11:04:03 AM IST

Sensex, Nifty at 11:00 am

Sensex was at 60,627.53, up 343.22, or 0.57% with advances of 24, and declines 6 Nifty was at 18,126.20, up 134.25 points, or  0.75% with 39 advances and 11 declines. Both indices at record. Tata among leading gainers.

13 Oct 2021, 10:58:46 AM IST

Tata Motors

On NIfty.
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On NIfty.
13 Oct 2021, 10:51:38 AM IST

Auto continues to power gains

Nifty sectoral indices 10:50 am
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Nifty sectoral indices 10:50 am
13 Oct 2021, 10:47:56 AM IST

Retail expected to report strong recovery in September quarter: report

Retailers across categories such as jewellery, grocery, and apparel are expected to report a strong recovery in the second quarter of the current fiscal year benefiting from pent-up consumer demand and early signs of strong festive period shopping, according to a report by Edelweiss Securities. (Read here)

13 Oct 2021, 10:43:29 AM IST

Haryana CM announces possible cut in VAT on ATF

Haryana chief minister Manohar Lal Khattar has stated that the value added tax (VAT) on aviation turbine fuel in the state is likely to be brought down from 20% to 1%, according to a report.

13 Oct 2021, 10:39:24 AM IST

Nifty at 10:35 am

Nifty at 10:35 am
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Nifty at 10:35 am
13 Oct 2021, 10:38:29 AM IST

Sensex at 10:35 am

Source: BSE
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Source: BSE
13 Oct 2021, 10:34:12 AM IST

India reports marginal rise in Covid cases, deaths in 24 hrs amid festive season; caseload surges to 3.4 crore

India adds 15,823 new coronavirus cases and 226 deaths in a day, taking the cumulative caseload to 3.4 crore, the union health ministry said on Wednesday. There has been a marginal rise in daily Covid-19 cases and deaths today. Yesterday, India reported 14,313 new COVID-19 cases and 181 deaths. (Read here)

13 Oct 2021, 10:27:25 AM IST

Invesco denies allegations it tried to hurt Zee shareholder interests

Invesco on Wednesday denied allegations from India's Zee that the US investment firm pitched a merger with another group that would have hurt shareholder interests before opposing the TV group's potential deal with Japan's Sony Group. Zee on Tuesday said opposition from Invesco, which owns roughly 18% of Zee Entertainment via two funds, to the proposed Zee-Sony merger was hypocritical as it tried to combine the media firm with "certain entities owned by a large Indian group" with terms similar to the Sony deal. Revealing the group's identity for the first as Reliance Industries, Invesco said the merger talks were between the Mukesh Ambani-run company and Zee CEO Punit Goenka's family. Invesco's role was to "help facilitate that potential transaction and nothing more," it said. (Reuters)

13 Oct 2021, 10:25:19 AM IST

IEA warns world isn’t investing enough for future energy needs

The world is failing to invest in energy on the scale needed to escape catastrophic climate change and avoid sharp increases in fossil fuel prices, the International Energy Agency warned. In a report just weeks before a key climate change summit known as COP26, the agency said that investment in green energy like solar and wind is lagging what’s needed to keep the planet from warming up significantly. At the same time, spending on fossil fuels is lower than needed if current demand growth for oil, natural gas and coal continues. “There is a looming risk of more turbulence for global energy markets," Fatih Birol, the head of the agency, said in a statement Wednesday. “We are not investing enough to meet for future energy needs." (Bloomberg)

13 Oct 2021, 10:21:52 AM IST

Rupee rises 26 paise to 75.26 against US dollar in early trade

13 Oct 2021, 10:13:22 AM IST

Gainers on Sensex (over 10%)

BSE Sensex at 10:10 am.
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BSE Sensex at 10:10 am.
13 Oct 2021, 10:08:13 AM IST

China orders steel mills to cut output in winter

China will ask steel mills in some 28 cities in northern China to cut production from 15 November to 15 March next year, to clear the smog-blanketed sky in the region and to ensure the achievement of the country's steel output reduction target. Steel mills will have to follow their output cut plans in 2021 and curtail no less than 30% of steel production in 1 January to 15 March 2022, from the level in the same period in 2021, according to a statement issued by China's Ministry of Industry and Information on Wednesday. (Reuters)

13 Oct 2021, 10:02:41 AM IST

Sensex, Nifty at 10 am

Sensex was at 60,603.76, up 319.45 points, or 0.53%

Nifty was at 18,118.25, up 126.30 points, or  0.70%

13 Oct 2021, 09:58:11 AM IST

BSE Auto 

BSE Auto at 9:55 am.
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BSE Auto at 9:55 am.
13 Oct 2021, 09:55:06 AM IST

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

"The index has opened with a gap, that too above 18,050. This is an encouraging sign. It is imperative we sustain this momentum. If the Nifty can close above the 18,050 level, the next two targets would be 18,200 and 18,400."

13 Oct 2021, 09:53:29 AM IST

Results awaited today

Infosys, Wipro, Mindtree, Advik Laboratories, Aditya Birla Money, Morarka Finance, National Standard, Perfect-Octave Media Projects, Plastiblends India, Raghav Productivity Enhancers, SDC Techmedia, Sanathnagar Enterprises, Stratmont Industries, and Unistar Multimedia will release quarterly earnings on October 13.

13 Oct 2021, 09:49:56 AM IST

Hero Motocorp Ltd partners with Gilera Motors Argentina

13 Oct 2021, 09:46:07 AM IST

Tata Motors shares surge

Tata Motors as of 9:45 am on Thursday.
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Tata Motors as of 9:45 am on Thursday.
13 Oct 2021, 09:37:06 AM IST

Sectoral indices

Nifty sectoral indices.
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Nifty sectoral indices.
13 Oct 2021, 09:35:22 AM IST

Markets opening

Benchmark indices have opened firmly in the green at fresh highs. Auto stocks led the push with the Nifty Auto showing 2.33% change at 9:30 am on Wednesday. There were 42 advances and 8 declines at the time on Nifty, on Sensex there were 26 advances and 4 declines. M&M. Powergrid and Titan were top gainers on Sensex, while Nestle, HCL Tech and Hindustan Unilever were top losers. Titan, Bajaj Finserv and Bajaj Auto were top gainers on Nifty. HCL Tech, HDFC Life and Coal India were top losers.

Sensex heatmap.
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Sensex heatmap.
13 Oct 2021, 09:23:37 AM IST

Nifty opens over 18K, Sensex over 6.5K

Sensex opened at 60,545.51, up 261.2, or 0.43% on Wednesday

Nifty opened at 18,097.85, up 105.90, or 0.59%.

13 Oct 2021, 09:08:45 AM IST

Markets pre-open

Sensex and Nifty were in the green in pre-opening on Wednesday. Sensex had 25 advances 3 declines and  2 unchanged as of 9:05 am.  There were 31 advances and 19 declines on Nifty. IT was the sole drag among sectoral indices. Tata Motors seeing an increase in stock prices.

Sensex pre-opening.
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Sensex pre-opening.
13 Oct 2021, 09:08:46 AM IST

Pre-open Nifty

pre-open Nifty
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pre-open Nifty
13 Oct 2021, 09:03:18 AM IST

BSE pre-open

Pre-open Sensex
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Pre-open Sensex
13 Oct 2021, 09:01:58 AM IST

Revolt set to open EV dealerships in three new cities

RattanIndia Enterprises Ltd has announced that Revolt, the company it backs, is all set to expand its dealership network ahead of this festive season. The company will open its new dealerships in Bengaluru, Jaipur and Surat on 18, 25 and 28 October respectively. With starting operations in these three new cities, Revolt will have footprint across nine major Indian cities. The Company is working to expand its its pan-India network even further in the coming months RattanIndia said.

13 Oct 2021, 08:56:07 AM IST

Global indices

Source: SGX Nifty
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Source: SGX Nifty
13 Oct 2021, 08:50:33 AM IST

Nalco, IRCTC, 4 other stocks under NSE's F&O ban list for today

A total of seven stocks/securities have been put the under futures and options (F&O) ban for trade by the National Stock Exchange (NSE) on Wednesday, October 13, 2021. These securities are banned under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE. (Read here)

13 Oct 2021, 08:50:33 AM IST

China’s exports climb about 20% in September despite energy crisis

China’s exports in yuan terms grew at a faster pace in September than the previous month despite a nationwide power crunch that forced businesses to cut production. Export growth accelerated to about 20%, according to Bloomberg calculations based on official data, from 15.7% in August. September’s gain was higher than the median estimate of 13.3% in a Bloomberg survey of economists. Growth in imports in yuan slowed to 11.0% in September from 23.1% in the previous month. The customs administration published data for the first nine months of the year showing exports in yuan terms climbed 22.7% from a year earlier, while imports increased 22.6%. (bloomberg)

13 Oct 2021, 08:42:20 AM IST

Pre-market opening: Gaurav Udani, CEO & Founder, ThincRedBlu Securities

“Nifty is expected to open positive at 18,045, up by 45 points. Nifty has support in 17,800-17,850 range. Nifty is in a bullish trend and traders can consider buy on dips with strict stoploss for 18,100 and 18,140 as targets."

13 Oct 2021, 08:39:58 AM IST

Market wrap-up of Tuesday: Ruchit Jain, senior analyst-technical and derivatives, Angel One Ltd

"The global markets witnessed some correction and in line with the same, the SGX Nifty hinted at a negative opening for our market. Nifty started the day marginally negative and sneaked below 17,900 before noon. However, the index then recovered form the lows and rallied to end the day around the 18,000 mark. Once again our markets shrugged off the negativity seen in the global indices and market participants took the dip as a buying opportunity. Nifty has ended tad below 18,000 which indicates that the momentum still continues to be positive. A lot of stock specific momentum was seen where better trading opportunities could be picked and hence one should continue to capitalize on the same. The immediate supports for Nifty are placed around 17,840 and 17,780 while resistance could be seen around 18,130. Except IT, all indices ended in the green. Thus, traders should continue to focus on stock-specific approach and look for such short-term trading opportunities."

13 Oct 2021, 08:35:22 AM IST

Markets likely to be cautious; RIL, Zee, Infosys, Tata Motors in focus

Markets are likely to be cautious on Wednesday following global cues. SGX Nifty indicate a mildly positive opening of Indian benchmark indices. On Tuesday, the BSE Sensex ended at 60,284.31, up 148.53 points or 0.25%. The Nifty closed at 17,991.95 up 46 points or 0.26%. (Read here)

13 Oct 2021, 08:28:23 AM IST

US to open border with Canada starting in early November

The US will open its border with Canada to vaccinated Canadians starting in early November, three US lawmakers said on Tuesday. Department of Homeland Security Secretary Alejandro Mayorkas has confirmed the plans, US Senate Majority Leader Chuck Schumer said on Tuesday. The office of New York Senator Kirsten Gillibrand said the United States had decided to allow fully vaccinated travelers from Canada and Mexico to come into the United States for non-essential travel through all ports of entry. Canada on 9 August began allowing fully vaccinated US visitors into the country for non-essential travel. (Reuters)

13 Oct 2021, 08:20:53 AM IST

Currencies, metal, commodities

Source: SGX Nifty
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Source: SGX Nifty
13 Oct 2021, 08:10:05 AM IST

RBI authorizes Karur Vysya Bank to collect direct taxes

The Karur Vysya Bank has in a filing stated that the Reserve Bank of India has authorized the bank to collect Direct Taxes on behalf of Central Board of Direct Taxes (CBDT). Following the approval received, the bank has initiated the integration process with CBDT. Once completed, customers of the Bank can remit their Direct Taxes through any branch, Net Banking and DLite Mobile app of the Bank. 

13 Oct 2021, 08:05:20 AM IST

Apple likely to cut iPhone 13 production due to chip crunch: report

Apple Inc is likely to slash production of its iPhone 13 by as many as 10 million units due to the global chip shortage, Bloomberg News reported on Tuesday, citing people familiar with the matter. The company was expected to produce 90 million units of the new iPhone models by the end of this year, according to Bloomberg. The report said Apple told its manufacturers that the number of units would be lower because chip suppliers including Broadcom Inc and Texas Instruments are struggling to deliver components. Shares of Apple fell 1.2% in after-hours trading, while Texas Instruments and Broadcom were both down about 1%.

13 Oct 2021, 08:02:16 AM IST

ONGC sells Dec Russian Sokol crude at highest premium since Jan 2020: report 

Indian explorer ONGC Videsh has sold a cargo of Russian Sokol crude loading in December at the highest premium since January 2020, persons in trade said on Wednesday. The 700,000-barrel cargo was sold to European trader Mercuria at $5.30 a barrel above Dubai quotes, they said. (Reuters)

13 Oct 2021, 07:57:26 AM IST

Southwest Monsoon withdraws from India, but IMD predicts heavy rainfall in these states

The country's weather monitoring agency on Wednesday said that the southwest monsoon withdrew from several parts of the country. The Indian Meteorological Department (IMD)-Hyderabad director K Nagaratna said that the synoptic situation indicates that the southwest monsoon has been withdrawn from states such as Gujarat, Odisha, Sikkim, West Bengal, Maharashtra, Madhya Pradesh etc. (Read here)

13 Oct 2021, 07:53:46 AM IST

Billionaire Alibaba founder Jack Ma reappears in Hong Kong: report

Alibaba Group founder Jack Ma, largely out of public view since a regulatory clampdown started on his business empire late last year, is currently in Hong Kong and has met business associates in recent days, two persons aware of the matter said. The Chinese billionaire has been keeping a low profile since delivering a speech in October last year in Shanghai criticizing China's financial regulators. That triggered a chain of events that resulted in the shelving of his Ant Group's mega IPO. While Ma made a limited number of public appearances in mainland China after that, as speculation swirled about his whereabouts, one of the sources said the visit marked his first trip to the Asian financial hub since last October. (Reuters)

13 Oct 2021, 07:50:07 AM IST

CNG, PNG prices hiked in these cities: Here's how much you need to pay

Indraprastha Gas Limited has announced a hike in prices of both compressed natural gas (CNG) and piped natural gas (PNG) in Delhi and neighbouring cities of Noida, Greater Noida, Ghaziabad, Gurugram, and others with effect from 6 am on 13 October. Following the latest price hike, CNG price in Delhi now stands at 49.76 per kg while PNG will be available for 35.11 per SCM, IGL said in a series of tweets. (Read here)

13 Oct 2021, 07:45:59 AM IST

Day trading guide for Wednesday: 9 stocks to buy or sell today — 13th October

Indian stock market ended in positive zone on Tuesday. NSE Nifty gained 46 points and closed at 17,991 levels whereas BSE Sensex shot up 148 points and closed at 60,284 levels. Bank Nifty index went up 227 points and closed at 38,521 levels. On a day when the volumes on the NSE were in line with recent averages; consumer durables, metals and FMCG indices rose the most while IT and telecom indices dipped the most. BSE Mid-cap index ended 0.65 per cent higher while the Small-cap index ended 0.26 per cent up. (Read here)

13 Oct 2021, 07:42:20 AM IST

Stocks to watch

Infosys, Wipro and RIL are among stocks in the news. (Read here)

13 Oct 2021, 07:35:47 AM IST

International indices

Indian indices.
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Indian indices.
13 Oct 2021, 07:30:17 AM IST

CWD, Samor, Adishakti Loha and Ispat Ltd shares listed 

CWD Ltd and Samor Realty Ltd and Adishakti Loha and Ispat Ltd, have notified on exchanges that effective 13 October, the equity shares of the firms are listed and admitted to dealings on the exchange in the list of 'TS' Group Securities and 'MT' Group Securities respectively.

13 Oct 2021, 07:30:18 AM IST

Asian stocks mixed before earnings, CPI; bond yields dip

Asian stocks were mixed on Wednesday as traders weighed the impact of elevated inflation on the economic recovery and looked ahead to earnings reports. Longer term Treasury yields declined. Shares retreated in Japan, edged up in South Korea and fluctuated in Australia. US futures fell after the S&P 500 and Nasdaq 100 dipped, with investors waiting to see whether the profit outlook can repair sentiment. 

The US 10-year treasury yield slipped further below 1.60%, while the yield curve flattened. The dollar was little changed. Markets were awaiting a US CPI report that is expected to show inflation remained elevated. A rally in crude oil amid a global energy crunch paused.

In China, concerns are mounting about contagion among indebted developers. Sinic Holdings Group Co. has become the latest real-estate firm to warn of imminent default. Hong Kong’s stock exchange delayed morning trading as strong winds and rain lashed the financial hub.

The upcoming flurry of corporate earnings releases will provide a window on whether businesses expect price pressures to crimp profit margins. A backdrop of slowing economic growth and elevated inflation, just as key central banks prepare to pare stimulus, is causing investor jitters.

13 Oct 2021, 07:30:18 AM IST

Cryptocurrencies post eight straight weeks of inflows: CoinShares data

Cryptocurrency products and funds attracted $226.2 million in investments last week, marking their eighth straight week of inflows, a report from digital asset manager CoinShares showed on Tuesday. Over an eight-week run, total crypto product inflows hit $638 million, with a year-to-date total of $6.3 billion. Bitcoin, as expected, led the way, nabbing $225 million, for a fourth straight week of inflows, according to data in the week ended 8 October.

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