The market will be closed on Wednesday for a holiday.
The benchmark indexes had started a truncated week higher on Monday, to register gains for seven straight sessions.
The indexes had climbed 0.88% each at close in Monday’s one-hour “muhurat” trading session to mark the festival of Diwali.
Meanwhile, foreign institutional investors sold a net 1.54 billion Indian rupees ($18.61 million) worth of equities on Monday, while domestic investors bought net 801.2 million rupees worth of shares, as per provisional data available with the National Stock Exchange.
In broader Asia, equities fell to new 2-1/2 year lows on Tuesday, as weakness in Chinese shares outweighed early gains following a rally on Wall Street on hopes of a less aggressive Federal Reserve.
In domestic trading, Nifty’s public sector bank and energy were among the top losers, falling 0.7% and 0.4%, respectively.
ICICI Bank extended gains to rise more than 1%. India’s second-largest private-sector lender reported a 37% rise in quarterly net profit on Saturday, as loan growth inched up and provisions for bad loans fell.
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Shares of private sector lender RBL Bank fell as much as 6.1% to Rs 119.45 in Tuesday’s intraday trade. The bank reported a nearly seven-fold rise in net profit for the September quarter at Rs 202 crore against Rs 31 crore in the year-ago period, largely owing to a 63% fall in provisions at Rs 241 crore. The bank’s net interest income rose 16% at Rs 1,064 crore while the net interest margin was at 4.55%. Operating profit, however, fell 26% to Rs 512 crore.
Price as on 25 Oct, 2022 10:57 AM, Click on company names for their live prices.
WATCH: Almost 20 cos IPO lock-in period will end this Nov!
#MarketsWithETNOW | Almost 20 cos IPO lock-in period will end this Nov! From @Paytm to @MyNykaa and @delhivery, let… https://t.co/OH0XNKmGLA
— ET NOW (@ETNOWlive) 1666674917000
Sensex erases gains, trades in the red
Check out the top gainers from the realty pack
Price as on 25 Oct, 2022 10:17 AM, Click on company names for their live prices.
With 18,100 within a leap away, bullish exhaustion is likely to set in. Favoured views expect initial dips to take support near 17,720 before a breach above 17,900 is attempted. However, repeat slippage towards the 17,700 vicinity could confirm exhaustion calling for 17,630-580-440.
– Anand James – Chief Market Strategist at Geojit Financial Services
In an environment which is volatile, I want safety first and especially the retail investors or the institutions would prefer safety first over returns later. ICICI fits the bill perfectly. It was under-owned for the last one year. It has come back with stellar numbers and I still think ICICI is going to go to four digits and beyond and that would be my top pick on the safety criteria.
– Sanjiv Bhasin, Director, IIFL Securities
BLOCK DEAL IN ITC: 28.7 LAKH SHARES CHANGE HANDS
Price as on 25 Oct, 2022 09:46 AM, Click on company names for their live prices.
Rupee rises 25 paise to 82.63 against US dollar in early trade
The initial months of Samvat 2079 are likely to be highly volatile with alternative bouts of selling and buying in the mother market US, which will have repercussions on other markets including India’s. In this highly uncertain environment clarity is emerging on some important trends: one, the US economy is slowing down and the most likely scenario is a short and mild recession, which the market has largely discounted. India’s growth too will be impacted by a global slowdown but India will be the least impacted large economy. This environment coupled with the resources of DIIs and retail investors can hold the market in good stead and can take it to new record highs, but high valuations are a concern. Investors can approach Samvat 2079 with cautious optimism and remain invested in high quality stocks and buy on declines in performing sectors like banking, capital goods, telecom and autos. Selective pharma and FMCG stocks would be good hedges in this uncertain environment.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Alembic Pharmaceuticals says completed USFDA inspection for Vadodara facility without any observations
Price as on 25 Oct, 2022 09:23 AM, Click on company names for their live prices.
IDFC First Bank, YES Bank among most active stocks on NSE
Price as on 25 Oct, 2022 09:21 AM, Click on company names for their live prices.
Opening Bell: Sensex rises 175 points, tops 60K; Nifty nears 17,800; Alembic gains 3%, ICICI Bank 2%
BROKERAGE RADAR | HSBC on RIL
- Maintain Hold; Cut Target price to Rs 2,500 from Rs 2,620
- Weakening GRMs QoQ and continued capex intensity will likely weigh on the stock
- Continue to like Reliance’s business and balance sheet
- Jefferies on RIL
- Maintain Buy; Cut Target price to Rs 3090 from Rs 3,100
- Retail leads growth; O2C upside capped
- Jio’s margin disappointed and gross sub adds were a tad soft
Pre-open session: Sensex rises over 150 points; Nifty above 17,800
NMDC stock in focus
#MarketsWithETNOW | NMDC in focus! Last day to buy shares to get shares of demerged steel entity @nmdclimited… https://t.co/LYpN0GN90i
— ET NOW (@ETNOWlive) 1666664345000
Asian stocks ease to 2-1/2-year lows
Asian equities fell to new 2-1/2-year lows on Tuesday as early gains inspired by a rally on Wall Street on hopes the Federal Reserve could be nearing the end of aggressive rate increases were offset by weakness in Chinese shares and the yuan.
Quarterly earnings today
Chennai Petroleum Corporation, Moschip Technologies, Nandani Creation and Nutricircle are among companies that will announce their quarterly earnings today.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 33.5 points, or 0.19 per cent, lower at 17,859, signaling that Dalal Street was headed for a negative start on Tuesday.
Tech View: Nifty trading above 8 out of 8 SMAs
Nifty ended above 8 out of 8 SMAs and was trading above 5 out of 9 oscillators. The day MACD signal was above its center and signal line, which is a bullish indicator.
Tokyo stocks open higher with eyes on earnings
Tokyo stocks opened higher on Tuesday, extending US rallies, with investors gradually shifting focus to the start of Japan’s corporate earnings season. The benchmark Nikkei 225 index was up 0.45 percent, or 121.19 points, at 27,096.19 in early trade, while the broader Topix index was up 0.49 percent, or 9.25 points, at 1,896.44.
Wall Street closes sharply higher on hopes of abating Fed
US stocks advanced on Monday, extending last week’s gains as signs of economic softness suggested the effects of the Fed’s aggressive policy aimed at cooling the economy, thereby curbing decades-high inflation, are beginning to take root.
Oil prices edge higher as US dollar eases
Oil prices edged higher on Tuesday, reversing some of the previous session’s losses, as the U.S. dollar eased, while weaker U.S. business activity data lowered expectations for more aggressive interest rate hikes in the world’s biggest economy.
Rupee slips 9 paise to close at 82.88 against US dollar
The rupee slipped 9 paise to close at 82.88 against the US dollar on Friday amid a strong greenback overseas.
Sensex, Nifty on Monday
Nifty50 crossed 17,700-mark, ending 0.9% higher at 17,738 points. Its BSE counterpart Sensex topped 59,900 and tested a high of 59,994.25, before ending 0.9% higher at 59,832 points.
Good morning, dear reader! Here’s something to kickstart your trading day