“Now, Nifty has to hold above the 17171 zone for a bounce towards 17333 and 17442 zones whereas supports are placed at 17071 and 16950 zones,” said Chandan Taparia of Motilal Oswal.
Nifty is currently placed near the strong weekly support of around 16800 levels, which is intermediate ascending trend line and also horizontal line support as per change in polarity, analysts said.
!1 New UpdateClick here for latest updates
Wall St opens higher after Putin comments, mixed bank earnings
Wall Street’s main indexes opened higher on Friday after Russian President Vladimir Putin eased geopolitical worries, saying there were no plans for a further military mobilization in Russia, while major American banks reported mixed results.The Dow Jones Industrial Average rose 153.5 points, or 0.51%, at the open to 30192.21. The S&P 500 rose 20.5 points, or 0.56%, at the open to 3690.41, while the Nasdaq Composite rose 93.7 points, or 0.88%, to 10742.814 at the opening bell.
“During the week, investors have been risk-averse due to rising geopolitical turmoil as well as worries about the global economic slump. However, as compared to global counterparts, domestic sell-off was not as aggressive since FII selling was supported by DIIs inflows. The domestic market also focused on quarterly earnings as the IT sector got off to a robust start, which improved the sector’s spirits. Oil prices also decreased as a result of weak demand brought on by recessionary worries and tightening Chinese regulations, which marginally helped India. US inflation data came slightly higher than expected, raising fears of an aggressive rate hike. However, the US market rapidly recovered due to the oversold trajectory and limited upside risk to the market & economy.We expect the rally to continue in the short-term, led by festival demand, Q2 results, and the positive trend of the global market. Buying at a dip is the best strategy in this scenario, with a focus on domestic economy-oriented stocks and sectors. The sectors which are expected to outperform are IT, pharma, FMCG, durables, green initiatives, specialty chemicals, and mass manufacturers with value buying as the theme.”
– Vinod Nair, Head of Research at Geojit Financial services
Oil prices dip on recession worries, but supply cuts support
Brent crude futures were down 76 cents, or 0.8%, at $93.81 a barrel at 1044 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 85 cents, or 1%, to $88.26.
The Brent and WTI contracts both oscillated between positive and negative territory on Friday but were down more than 4%over the week after two weeks of gains on concern over the global economy.
SHREE CEMENT Q2 RESULTS: PAT at Rs 190 cr vs ET NOW poll of Rs 272 cr; revenue at Rs 3,781 cr vs ET NOW poll of Rs 3,929 cr
The domestic market showed an uptick, in-line with the surprise bounce in the US market. Initially the US market fell because the data exceeded the forecast. However, it recovered quickly, due to the oversold state of the market. The rally in the domestic market was led by large caps, with IT and banking at the forefront due to the robust start to Q2 earnings. The rally can continue in the short-term led by festival demand, Q2 results and positive trend of the global market.
– Vinod Nair, Head of Research at Geojit Financial Services.
Bajaj Auto Q2 Results with ETNow
#EarningsWithETNOW | Bajaj Auto Q2 PAT at Rs 1,530 cr: Agencies; vs ET NOW poll saw PAT at Rs 1,500 cr… https://t.co/G5C3XKB9xn
— ET NOW (@ETNOWlive) 1665744349000
Bajaj Auto Q2 Results: PAT Rs 1530 cr vs Rs ET NOW poll of Rs 1500 cr
BofA’s Bull & Bear Indicator remains at ‘max bearish’ for 4th consecutive week
#MarketsWithETNOW | BofA's Bull & Bear Indicator remains at 'max bearish' for 4th consecutive week (From Agencies)… https://t.co/PjKTV29PvP
— ET NOW (@ETNOWlive) 1665741323000
Gold falls Rs 261; silver declines Rs 692
Silver also declined by Rs 692 to Rs 57,477 per kilogram from Rs 58,169 per kg.
HEATMAP – Maximum stocks close in green; Infy up 4%; M&M down 1%
Closing Bell: Sensex pares early gains, ends 685 pts higher; Nifty tops 17,150; HDFC twins surge up to 4%
NSE seeks comments on submission of board meeting outcomes in XBRL format
XBRL (eXtensible Business Reporting Language) is a language for the electronic communication of business and financial data used for business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information.
Under the rules, listed entities are required to submit periodical compliance filings to stock exchanges within prescribed timelines and accordingly were mandated to report XBRL-based filings for financials from the year 2015 onwards.
(Source: PTI)
Shares of Federal Bank rose as much as 6% to Rs 132 in Friday’s intra-day trade after the Bank reported a nearly 53% rise in its standalone net profit for the second quarter to Rs 703.7 crore as compared to Rs 460.3 crore from the year-ago quarter.
Price as on 14 Oct, 2022 03:32 PM, Click on company names for their live prices.
KPI Green Energy has received commissioning certificate from Gujarat Energy Development Agency (‘GEDA’) for capacity of 6 MWdcsolar power project.
Price as on 14 Oct, 2022 02:54 PM, Click on company names for their live prices.
The Water & Effluent Treatment Business of L&T Construction has secured repeat orders from the Narmada Water Resources, Water Supply & Kalpsar Department, Govt. of Gujarat, to execute pumping system and pipeline works from Tappar Dam to Nirona Dam.
Price as on 14 Oct, 2022 02:37 PM, Click on company names for their live prices.
Bharat Heavy Electricals Limited (BHEL) has entered into a ‘Non-Binding’ MoU with Coal India Limited (CIL) and NLC India Limited (NLCIL) to set up a Coal to Ammonium Nitrate Project
Price as on 14 Oct, 2022 02:14 PM, Click on company names for their live prices.
IT stocks lead D-Street rally
Price as on 14 Oct, 2022 01:49 PM, Click on company names for their live prices.
Federal Bank standalone net profit jumps 52.89 pc to Rs 703.71 cr in Sep qtr
Total income of the bank on the standalone basis during the July-September quarter of 2022-23, rose to Rs 4,630.30 crore from Rs 3,870.90 crore in the same period of 2021-22, Federal Bank said in a regulatory filing.
On the asset quality front, the lender reported an improvement as the gross non-performing assets (NPAs or bad loans) fell to 2.46 per cent of the gross advances as of end-September 2022 from 3.24 per cent by end of September 2021.
Shares of RITES in Friday’s trading session hit a fresh 52-week high price of Rs 404.9; rallying over 6% intraday, after the company bagged a multi-billion order.
Price as on 14 Oct, 2022 01:23 PM, Click on company names for their live prices.
Federal Bank Q2FY23: PAT at Rs 704 cr vs Rs 460 cr YoY
#EarningsWithETNOW | @FederalBankLtd Q2FY23: PAT at Rs 704 cr vs Rs 460 cr YoY Gross NPA at 2.46% vs 2.69% QoQ N… https://t.co/kloGTPWbIQ
— ET NOW (@ETNOWlive) 1665731212000
European stock futures signalling a strong start
Euro STOXX 50 futures are up 1.8%. Futures on the DAX, CAC 40 and FTSE 100 are up between 1.2%-1.8%.
All broad market indices trade in green barring India VIX
Commodity Watch with ETNow
#CommodityCornerWithETNOW -Oil edges up on weaker dollar -Aluminium prices up after reports suggested that US ma… https://t.co/56TVJnLwzv
— ET NOW (@ETNOWlive) 1665728394000
Tokyo’s key Nikkei index closes 3.2% higher
Tokyo stocks ended sharply higher on Friday, following robust gains on Wall Street where shares made a rapid U-turn from selling prompted by forecast-beating inflation data.The Nikkei 225 closed up 3.25 percent, or 853.34 points, at 27,090.76, while the broader Topix index rose 2.35 percent, or 43.58 points, to 1,898.19.
Mindtree rallies 4% after releasing Q2 results
Price as on 14 Oct, 2022 11:48 AM, Click on company names for their live prices.
Shares of Anand Rathi Wealth rallied 6 per cent in Friday’s trade to hit its new 52-week high, after the company announced a strong set of numbers in the September 2022 quarter.
Price as on 14 Oct, 2022 11:09 AM, Click on company names for their live prices.
Bond yields edge higher ahead of debt sale, MPC policy minutes key
Read More: Sensex Today: Stock Market Highlights: Nifty forms positive candle on weekly chart. What