Stock Market on 11 October 2024 | Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets.
ALL UPDATES
- October 11, 2024 15:44
Currency market updates: Rupee declines 9 paise to 84.07 (provisional) against US dollar.
- October 11, 2024 15:39
Stock market live today: DSJ Keep Learning CFO Shrikant Chilveri steps down effective October 12, 2024
DSJ Keep Learning announced resignation of Shrikant Chilveri as Chief Financial Officer of the company w.e.f. October 12, 2024.
- October 11, 2024 15:39
Stock market live today: Sanofi in talks to sell 50% stake in consumer health unit Opella; shares fall 2.23%
Sanofi has entered into negotiations with CD&R for the potential sale of a 50% controlling stake in Opella, its consumer healthcare business.
Sanofi shares declined 2.23% to close at ₹4,872.50 on the NSE
- October 11, 2024 15:38
Nifty today: Top gainers, losers at close
Top gainers on the NSE
Trent (2.52%), Hindalco (2.27%), HCL Tech (1.73%), Tech Mahindra (1.56%), ONGC (1.35%)
Top losers:
TCS (-1.93%), M&M (-1.80%), ICICI Bank(-1.62%), Cipla (-1.52%), Adani Enterprises (-1.39%)
- October 11, 2024 15:38
Markets close: Sensex drops 230 points to close at 81,381; Nifty falls by 34 points ending at 24,964
Sensex closed 230.05 pts or 0.28% lower at 81,381.36, and Nifty 50 ended at 24,964.25, down by 34.20 pts or 0.14%.
- October 11, 2024 15:37
MF Watch: Motilal Oswal unveils new ‘Digital India Fund’ for tech and telecom investors
Motilal Oswal Asset Mutual Fund (MOMF) today announced the launch of its latest new fund offer “Motilal Oswal Digital India Fund”. The fund is an open-ended equity scheme investing in Digital Space, focusing on Technology, Telecom, Media, Entertainment and other related ancillary sectors for investors who are looking at capital appreciation in the long term.
NFO Period: 11th October 2024 – 25th October 2024
- October 11, 2024 15:36
Stock in focus: Electronics Mart opens new Bajaj Electronics store in Andhra Pradesh; shares dip 1.14%
Electronics Mart India Limited has commenced the commercial operations of a new Multi Brand Store under the brand name BAJAJ ELECTRONICS in Andhra Pradesh. Electronics Mart India shares declined 1.14% on the NSE to ₹214.96
- October 11, 2024 15:06
Stock market live news: Top NSE gainers and losers
Top gainers on the NSE as at 3 pm:
Trent (2.74%), Hindalco (2.29%), HCL Tech (1.66%), Tech Mahindra (1.61%), ONGC (1.23%)
Top losers:
TCS (-1.82%), M&M (-1.76%), ICICI Bank(-1.62%), Maruti (-1.38%), Cipla (-1.26%)
- October 11, 2024 15:03
Share market today: 2,077 stocks advance, 1,785 decline
Stocks advanced on BSE at 3 pm on October 11, 2024, were 2,077 against 1,785 stocks that declined, and 123 remained unchanged. Total stocks traded were 3,985. The number of stocks that recorded a 52-week high was 213, and those that hit a 52-week low was 24. A total of 359 stocks traded in the upper circuit, and 144 in the lower circuit.
- October 11, 2024 15:02
Stock market live: Sudarshan Chemical Industries enters agreement; shares rise
Sudarshan Chemical Industries has entered into definitive agreement, whereby Sudarshan Europe BV, Wholly Owned Subsidiary of the Company in Netherlands, shall acquire Global Pigment Business Operations of the Heubach Group of Germany for a total consideration of Euro 127.5 Million (Approx. ₹1,180 Crore).
Shares rose 2.50% on the NSE to ₹1,040.
- October 11, 2024 14:49
Stock market today: NBCC (India) wins contract worth ₹65.15 crore
NBCC (India) Limited has recently been awarded ₹65.15 crore contract from Navodaya Vidyalaya Samiti.
NBCC shares trade 2.42% lower on the NSE at ₹114.15.
- October 11, 2024 14:45
Stock market live: KVB shares trade flat on the NSE
KVB informed that RBI imposed monetary penalty of ₹10,000 for the instance of cash-outs in ATM. The said penalty is not material and is in ordinary course of ATM related operations.
KVB shares trade flat on the NSE at ₹198.54.
- October 11, 2024 14:44
Stock market live: Pokarna shares surge 4.88% on NSE
Pokarna informed that the operations Unit II of Pokarna Engineered Stone Limited (PESL), a wholly owned subsidiary of Company, located at Mekaguda, Telangana State have been restarted today.
Shares surged 4.88% on the NSE to ₹1,090.35.
- October 11, 2024 14:33
Share market news: L&T Technology Services shares trade flat on NSE
Maharashtra State Cyber Department has inaugurated India’s first integrated Cyber Command & Control Center with L&T Technology Services
L&T Technology Services shares trade flat on the NSE at ₹5,196.75.
- October 11, 2024 14:25
Commodities today: Reduction in import of palm oil leads to decline in import of edible oils
Reduction in the import of palm oil led to around 6 per cent decline in the import of edible oils during the first 11 months of the oil year 2023-24 (November-October). India imported 145.35 lakh tonnes (lt) of edible oil during the first 11 months of the oil year 2023-24 against 154.68 lt in the corresponding period of the previous oil year.
- October 11, 2024 14:23
Stock market live news: Demat accounts increase to 175 mn in Sept
Motilal Oswal Financial Services:-
The total number of demat accounts increased to 175m in Sept’24. The new account additions jumped 4.4m in Sept’24 (average monthly additions of 4m YTDFY25). In Sept’24, CDSL continued to gain market share in terms of the total number of demat accounts. On a YoY basis, NSDL lost 410bp/90bp market share in total/incremental demat accounts.
The number of active clients on NSE increased 2.4% MoM to 47.9m in Sept’24. Currently, the top five discount brokers account for 64.5% of total NSE active clients vs. 61.9% in Sept’23. Performance of key discount brokers: Zerodha reported a 1.1% MoM increase in its client count to 8m, with a 20bp fall in market share to 16.6%. Groww reported a 3.1% MoM increase in its client count to 12.3m, with a 15bp rise in market share to 25.6%. Angel One reported a 3.1% MoM increase in its client count to 7.4m, with a 10bp rise in market share to 15.4%.
Upstox reported a 1.5% MoM increase in its client count to 2.8m, with a 5bp fall in market share to 5.9%. Performance of key traditional brokers: ICICI Sec reported a 0.8% MoM increase in its client count to 1.9m, with a 10bp fall in market share to 4%. IIFL Sec reported a 0.6% MoM increase in its client count to 0.5m, with a market share of 1%.
- October 11, 2024 14:21
Stock market live: Top Nifty Pharma gainers
Top gainers of Nifty Pharma stocks:
IPCA Labs (3.84%)
Mankind Pharma (3.58%)
Granules (3.24%)
Lupin (2.72%)
Torrent Pharma (2.17%)
- October 11, 2024 14:21
Stock market Today: Equirus Group announces investment by Amicus Capital and other investors
Equirus Group, a leading diversified financial services firm, is pleased to announce an investment by the private equity firm Amicus Capital and a group of other investors. Amicus Capital’s investment marks the third equity infusion in Equirus’ capital history, following Federal Bank’s equity investment in 2018. Equirus is backed by Late Shri Rakesh Jhunjhunwala who invested in the company at the time of its inception. This round of ₹125 crore investment is a mix of primary and secondary investments. It enables a partial exit for Federal Bank and some individual shareholders, making way for Amicus Capital and new investors, including Kishor Patil, Dr. Ajai Kumar, N. Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya, Deepak Singhal, and others.
The investment by Amicus Capital reaffirms Equirus’ ongoing commitment at being a trusted investment bank, offering top-tier results in investment banking, asset management, and insurance broking. Amicus Capital’s investment will support Equirus in areas such as capital expansion, technology investments, strategic guidance, access to new networks, talent acquisition, operational improvements, and risk management. This strategic investment is expected to open new avenues as Equirus continues to grow its Investment Banking, Institutional Equities, Wealth & Asset Management, and Insurance Broking businesses.
Federal Bank, which has played a significant role in Equirus’ growth journey since 2018, will remain a shareholder, continuing its support and involvement in the company’s future development.
“We are excited to welcome Amicus Capital to our team of investors and look forward to leveraging their expertise in the financial sector. At the same time, we are grateful for Federal Bank’s ongoing support, which has been instrumental in our journey so far. This partnership will provide us with fresh capital and insights as we pursue our vision of expanding our leadership in investment banking, deepening our presence in wealth and asset management, and leveraging technology for enhanced client outcomes,” said Mr. Ajay Garg, Managing Director of Equirus Group.
- October 11, 2024 14:03
Stock market live: Tara Chand InfraLogistic Solutions adds new cranes in Sept
Tara Chand InfraLogistic Solutions Limited has added 8 new cranes/equipment to its fleet in the month of September 2024. Additionally, the company has also purchased new equipment for its Warehousing & Transportation Division namely 40Feet Trailers and P&H 790 Lattice Boom Crane. With these purchases, the company has completed a Capex of approx. Rs.94.28 Crores (provisional, unaudited) during H1 FY25.
Tara Chand InfraLogistic Solutions stock trades at ₹369 on the NSE, down by 1.03%.
- October 11, 2024 13:49
Stock market today: Dev Information stock rises after securing order
Dev Information Technology Ltd (DEVIT) secured order from Ports and Transport Department Gujarat for Setup Configuration, Integration and Migration of users to latest technology adoption with Managed Support Service of 1 year for Gujarat Maritime Board Gandhinagar”.
Dev Information stock rose 1.58% on the BSE to ₹154.05.
- October 11, 2024 13:25
Stock market live updates today: ITCONS E-Solutions bags ₹17.4-crore contract from National Institute of Biologicals; shares trade flat on BSE at ₹600
ITCONS E-Solutions has been awarded a ₹17.40-crore contract by the National Institute of Biologicals under the Department of Health and Family Welfare, for supply of manpower services on a contractual basis for three years. Shares trade flat on the BSE at ₹600.
- October 11, 2024 13:22
Stock market live updates today: Adani Enterprises raises $500 million via share sale; share trades lower on NSE
Adani Enterprises has raised $500 million via a share sale to local insurance and mutual funds firms and an existing US-based investor, two sources with direct knowledge said.
Adani Enterprises share price traded at ₹3,133.65 on the NSE, lower by 1.28%.
- October 11, 2024 13:20
Stock market live updates today: Birla Opus Paints launches new ad campaign; Grasim Industries stock trades flat
Birla Opus Paints housed under the Aditya Birla Group’s Grasim Industries, has launched its latest campaign – ‘Naye Zamane ka Naya Paint’ i.e. ‘New Paint for the New era’. Conceptualised by Leo Burnett India, the film features two of India’s most loved actors – Vicky Kaushal and Rashmika Mandanna – as brand ambassadors talking about its unique and distinctive features and quality, along with veteran and versatile actors like Neena Gupta and Saurabh Shukla.
Grasim Industries stock trades flat on the NSE at ₹2,704.15.
- October 11, 2024 12:52
Stock market live updates today: Container Corporation has appointed Harish Chandra as CFO
- October 11, 2024 12:51
Stock market live updates today: Thyrocare Technologies Ltd has completed a business transfer agreement with Vimta Labs Ltd. Thyrocare shares trade flat on NSE at ₹825.4
- October 11, 2024 12:50
Stock market live updates today: Mukta A2 Cinemas Private Ltd, a subsidiary of Mukta Arts, opens New Luxury 2-Screen Multiplex in Behror. Shares trade 2.12% lower at ₹86 on the NSE
- October 11, 2024 12:26
Stock market today: Bandhan Bank shares surge 10% on RBI nod for Partha Sengupta as CEO
Shares of private lender Bandhan Bank rose over 10% on Friday after the Reserve Bank of India approved the appointment of its new CEO, which analysts said would ensure management stability.
- October 11, 2024 12:21
Stock market live: LTIMindtree board to consider dividend at its meeting on Oct 17. Shares were up 1.08% on the NSE to ₹6,414.70
- October 11, 2024 12:21
Share market live updates: Bigbloc Construction’s subsidiary to install solar rooftops; shares decline
Starbigbloc Building Material Limited, a material subsidiary of Bigbloc Construction, will install an 800 KW solar rooftop power project. Additionally, a 1350 KW solar rooftop system will be installed at our newly established facility under the joint venture viz. Siam Cement Bigbloc Construction Technologies Private Limited.
Bigbloc Construction shares declined 1.16% on the NSE to ₹114.75.
- October 11, 2024 12:18
Stock market today: Geojit Financial’s Saji John on Hyundai’s IPO
Hyundai’s IPO being the first major auto IPO in India in over two decades could attract significant global investor interest. This influx of foreign investment could further enhance the sector’s valuation. The company’s portfolio expansion and manufacturing capabilities highlight the growth potential and investment in the automotive market. The increased competition and innovation driven by Hyundai’s enhanced financial strength post-IPO could push other automakers to reassess their growth potential and market positioning, positively re-rating the sector. Conversely if the listing has been perceived as overvalued then it can negatively impact, says Saji John, Senior Research analyst, Geojit Financial Services.
- October 11, 2024 12:17
Stock market live today: Ultratech Cement receives tax demand worth ₹3.03 lakh
Ultratech Cement has received order from the Additional Commissioner, CGST & Central Excise, Raipur, Chhattisgarh, confirming Service tax demand for ₹3,03,696, applicable interest and penalty of ₹3,03,696.
Shares trade flat on the NSE at ₹11,442.35
- October 11, 2024 12:16
Stock market live news: Hindustan Foods stock trades flat on NSE
Hindustan Foods’ wholly-owned subsidiary KNS Shoetech Private Limited has informed the Company on allotment of 9,33,100 Compulsorily Convertible Preference Shares of face value of Rs. 10/- each at an issue price of Rs. 50/- each and paid-up price of Rs. 12.5/- each to the certain identified Allottees and the balance payment to be received by KNS in tranches as and when called by KNS.
Hindustan Foods stock trades flat at ₹629.35 on the NSE.
- October 11, 2024 12:15
Stock market live updates: Swan’s Shipyard (RNEL), has appointed Rear Admiral Vipin Kumar Saxena (IN Retd.) as Chief Executive Officer.
- October 11, 2024 12:15
Stock market live: Top NSE gainers
Top gainers on the NSE at 12 noon:
Hindalco (2.34%), HCL Tech (1.56%), Trent (1.33%), Tata Steel (1.30%), Tech Mahindra (1.28%)
Top losers:
TCS (-2.51%), Cipla (-1.74%), ICICI Bank(-1.56%), M&M(-1.32%), Adani Enterprises (-1.25%)
- October 11, 2024 12:14
Share market today: 1,976 stocks advance, 1,731 decline
Stocks advanced on BSE at 12 noon on October 11, 2024, were 1,976 against 1,731 stocks that declined, and 139 remained unchanged. Total stocks traded were 3,846. The number of stocks that recorded a 52-week high was 182, and those that hit a 52-week low was 23. A total of 289 stocks traded in the upper circuit, and 147 in the lower circuit.
- October 11, 2024 11:44
Stock market live updates today: Top gainers among Nifty Metal stocks: National Aluminium (2.68%), NMDC (2.65%), Hindalco (2.14%), SAIL (1.79%), Jindal Steel (1.56%)
- October 11, 2024 11:40
Stock market live updates today: Surana Solar board to consider raising funds for solar project; shares plunge on NSE
Surana Solar board to consider (at its meeting on Oct 21) proposal for raising funds for a Solar Power Project of 54 MW (AC) under the Mukhyamanatri Saur Krushi Vahini Yojna 2.0 scheme), and to consider the proposal to set up up to 50est1230 MW TOPSUN Solar Cell and Modules manufacturing capacity at Fabcity factory Hyderabad.
Surana Solar shares plunge 5.01% on the NSE to ₹53.66
- October 11, 2024 11:33
Stock market live updates today: Ahluwalia Contracts (India) Ltd has secured an order from DLF City Centre for ₹1,094.67 crore. Shares trade 1.50% lower on the NSE at ₹1,091.30
- October 11, 2024 11:26
Stock market live updates today: Sensex, Nifty fall in early trade
The 30-share BSE Sensex opened on a negative note and slipped 62.90 points, or 0.08 per cent, to 81,548.51 in early trade.
Showing a similar trend, the broader Nifty fell 64.1 points to 24,934.35.
From the 30 Sensex pack, Bharti Airtel, Bajaj Finance, Bajaj Finserv, Asian Paints, Power Grid, Mahindra & Mahindra, Tata Consultancy Services, ICICI Bank, and Kotak Mahindra Bank were among the laggards.
- October 11, 2024 11:25
Stock market live updates today: Moneyboxx Finance sanctioned ₹40-crore term loan from HDFC Bank and AU Small Finance Bank; shares trade 2.12% higher on NSE at ₹264.5
Moneyboxx Finance has been sanctioned term loan of ₹40 crore from two of its existing bankers, namely, HDFC Bank (₹20 crore) and AU Small Finance Bank (₹20 crore).
Shares trade 2.12% higher on the NSE at ₹264.50.
- October 11, 2024 11:12
Stock market live updates today: Akme Fintrade (India) Ltd has announced the opening of a new branch office in Dahod, Gujarat; shares slip 0.64% on NSE to ₹101.42
- October 11, 2024 11:11
Stock market live updates today: Jio Financial Services launches JioFinance app
Jio Financial Services Ltd. (JFSL) has launched the JioFinance app, offering loans, savings accounts, UPI payments, insurance, and financial tools. With 6 million users, it aims to democratise financial services and be a trusted partner for Indians.
- October 11, 2024 11:08
Stock market live updates today: Brokerage view
TCS Review
Nomura
Neutral, TP Rs 4150
2Q: Modest miss at rev, but significant miss at margins
BSNL deal drives growth in 2Q
Pipeline near record-high levels, TCV moderates while being within comfort band
1.6%-2.4% cut in FY25-26F EPS
Jefferies
Buy, TP Rs 4735
2Q missed est. with de-growth in North America & margin miss being key -ves
Though, steady hiring & continued recovery in BFSI bodes well
Moreover, ramp down of BSNL deal may provide scope to improve margins
Cut est by 1-2%
HSBC
Buy, TP Rs 4540
2Q reflected a painfully slow demand recovery, though TCS alluded to some client-specific issues as well
Revenues barely grew on a sequential basis (ex of passthrough) which led to a rare margin fall as well for TCS
MS
OW, TP Rs 4910
F2Q25 : Lower than expectations
Quality of revenue growth is weak & miss on margins
+ves
BFSI revenues grew QoQ by 1.9% in USD terms & for 1st time in last 5 quarters it turned +ve on YoY growth in cc terms
JPM
OW, TP Rs 5100
A rare miss - several knotty one-offs, but with silver linings
Given TCS also pointed out lengthening sales cycles and signings were unimpressive, fear there is still a lack of a broad-based macro recovery
Would use any sharp correction to add
UBS on Kotak Bank
Neutral, TP Raised to Rs 1950
Cyclical headwinds for NIM, CASA while credit costs rise
NIM sensitivity to rate cuts relatively high
Stability in core biz key for re-rating
Val fair(2x FY26E P/BV) & price in most concerns
CITI on Cipla
Buy, TP Rs 1870
Hengrui’s product is 1st interchangeable version & can garner significant market share as well as can result in price decline
If there is further delay in Cipla’s Goa facility resolution, generic Abraxane opportunity would significantly be diminished
CITI on Indus Tower
Buy, TP Rs 500
Believe share price correction over last 1M provides an attractive buying opportunity
Reiterate +ve Catalyst Watch
3 key events to monitor:
1) 2Q results
2) Conclusion of Voda Idea’s (delayed) bank funding
3) Waiver (by gov’t) of bank guarantee
Jefferies on Bandhan Bank
Buy. TP Rs 240
Partha Sengupta appointed MD&CEO for 3yrs
Should be +ve as he was earlier Dy. MD & Chief Credit Officer at SBI & then MD&CEO of IOB
He has also worked in West Bengal, a key market for Bandhan
Also, bank will receive Rs3.1bn as CGFMU claim
Investec on Bandhan BK
Sell, TP Rs 180
24% recovery from CGFMU & appointment of a new CEO
Financial impact of overall CGFMU audit is lower than expectations
Continue to believe BK will need to raise confidence capital at some stage to boost its capitalization
Nomura on Credit Access
Downgrade to Reduce, TP cut to Rs 950
State elections including Maharashtra, Bihar & Jharkhand are coming up; these states form 28% of its total AUM where there might be disruptions
Steep decline in disbursements/AUM growth; asset quality also deteriorates
MS on Tata Elxsi
UW, TP Rs 6860
With muted 2Q, F25e rev growth exceeding F24 appears a tall task
Healthcare may recover from 3Q & transportation deal wins to support growth, but emerging industry caution in European auto, ltd growth visibility in media, & premium val keep us UW
- October 11, 2024 10:55
Stock market live updates today: Gujarat Toolroom Ltd completes QIP, raises ₹50 crore Shares decline 1.29% on the NSE to ₹4,173.
- October 11, 2024 10:37
Stock market live updates today: Edelweiss Asset Management launches two funds
Edelweiss Asset Management (EAMC/EMF) has launched the ‘Edelweiss Nifty500 Multicap Momentum Quality 50 Index Fund (Index Fund) & Edelweiss Nifty500 Multicap Momentum Quality 50 ETF (ETF)’.
The New Fund Offer (NFO) will be open for subscriptions from October 11to 25, 2024. This multi-factor index fund is based on two factors – momentum and quality. It tracks the performance of 50 stocks chosen from the Nifty 500 stocks universe and offers investors access to stocks with strong fundamentals and price momentum.
The fund aims to replicate the performance of the Nifty500 Multicap Momentum Quality 50 Index, subject to tracking errors. The underlying index tracks the performance of 50 stocks, selected from a universe of Nifty 500 stocks.
The funds will invest in all the constituents of the Nifty500 Multicap Momentum Quality 50 Index in the same proportion as the underlying index. The scheme aims to leverage two complementary factors – momentum and quality, to deliver consistent risk-adjusted returns across market cycles.
The initial investment in the Index Fund can be a lump sum and SIP of ₹100 per application, with increments of ₹1 thereafter and investment in the ETF can be a minimum subscription amount of Rs. 5,000 and in multiples of Re. 1 thereafter. The index fund will be managed by Mr. Bhavesh Jain, Co-
Head, Factor Investing along with Mr. Bharat Lahoti, Co-Head, Factor Investing, Edelweiss Mutual Fund and the ETF will be managed by Mr. Bhavesh Jain, Co-Head, Factor Investing, Edelweiss Mutual Fund.
- October 11, 2024 10:26
Stock market live updates today: Ashoka Buildcon emerged Lowest Bidder for the project to Brihanmumbai Municipal Corporation, quoted at ₹918 crore; stock surges 3% on the NSE to ₹251.35.
- October 11, 2024 10:23
Stock market live updates today: Rupee rises 2 paise to 83.96 against US dollar in early trade
The rupee rose 2 paise to 83.96 against the US dollar in early trade on Friday amid a weakening greenback.
However, a rise in crude oil prices and constant FII outflows capped further gains in the domestic unit, according to forex traders.
A weak start to the day in the domestic equity markets also prevented the local unit from rising further, they said. Read more
- October 11, 2024 10:21
Stock market live updates today: Bondada Engineering bags bulk work orders from Maharashtra State Power Generation Company; shares trade flat on the NSE at ₹609
Bondada Engineering Ltd has received a Letter of Award from Maharashtra State Power Generation Company Ltd for bulk work orders:
1. EPC contract with the scope of design, engineering, supply, erection, testing and commissioning of Crystalline Ground mounted solar PV power plant under MSKVY 2.0 scheme including 3 years Operation & Maintenance on EPC basis at 33/11 kv across various districts of Maharashtra State amounting to Rs. 763.16 Cr including GST.
2. EPC contract for design, engineering, supply (except PV module), unloading of PV modules at the site supplied by MAHAGENCO, erection, testing and commissioning of Crystalline Ground mounted solar PV technology grid interactive distribution agriculture feeder solarization by solar PV power plant under MSKVY 2.0 scheme including 3 years Operation & Maintenance on EPC basis at 33/11 kv across various districts of Maharashtra State amounting to Rs. 369.08 Cr including GST.
Shares trade flat on the NSE at ₹609
- October 11, 2024 10:01
Stock market live updates today: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
“Market is likely to remain volatile in the near-term alternating between FII selling and DII buying. Attractive valuations in other markets, particularly in Chinese stocks, will facilitate further selling by FIIs in India since Indian valuations are elevated. Concerns of earnings downgrades in H2 FY 25 render Indian valuations difficult to sustain. However, the sustained flows into the domestic mutual funds, where monthly SIPs have set a new record of Rs 24500 in September, will ensure that all FII selling will be easily absorbed by DII buying. This has been the trend in October so far.
A healthy trend in the market is the leading private sector banks getting accumulated and showing resilience even in a weak market. This is the most attractively valued segment in this market where there is no valuation comfort. Lot of stock-specific action can be expected in the coming days in response to Q2 results. Banking and IT are likely to post reasonably good results.”
- October 11, 2024 10:00
Stock market live updates today: IFA Global Research
US Sep CPI print came in higher than expected. Headline CPI print came in at 2.4% yoy against expected 2.3%. Core CPI came in at 3.3% against expected 3.2%
US Sep PPI print and University of Michigan consumer sentiment and inflation expectations data are due today.
Markets are awaiting a speech on Saturday by Chinese finance minster for announcement of a stimulus package which could be around CNY 2tn.
Price action across assets
US 2y yield has come off 5bps to 3.96% while 10y yield is down 1bps at 4.06%
Dollar is steady across majors
S&P500 ended 0.2% lower while Nasdaq ended flat. Asian equities are trading flat to positive.
Brent has risen to USD 79 per barrel on reports indicating Israel was ready to make a decision on how it would retaliate against Iran. Gold has recovered to USD 2635 per ounce
- October 11, 2024 09:59
Stock market live updates today: Quote on AMFI Numbers by Madhu Nair, Chief Executive Officer at Union Asset Management Company Private Limited
“Momentum continues with strong retail flow into equity schemes driven by SIPs and new fund offers. While thematic category-based schemes are getting lion’s share of flows, rest of the flows have been spread uniformly across Multicap, Flexicap, Large and Midcap, Large cap, Multi Asset, Midcap and Small cap schemes. Arbitrage funds due to lower spreads and liquidity funds due to quarter end redemptions from institutional investors have seen outflows while medium to long duration funds like gilt and corporate bond funds have seen significant pick up in net flows in the anticipation of future rate cuts”.
- October 11, 2024 09:54
Stock market live updates today: P N Gadgil Jewellers Ltd open new store at Charholi, PCMC, Pune. Stock trades flat at ₹747 on the NSE
- October 11, 2024 09:53
Stock market live updates today: Easy Trip Planners has incorporated a wholly-owned subsidiary under the name of Easy Green Mobility Private Ltd; shares trade at ₹34.11 on the NSE, down by 0.73%.
- October 11, 2024 09:53
Stock market live updates today: RBI imposes penalty on IndusInd Bank; shares trade flat
IndusInd said a penalty of Rs. 30,000.00 has been imposed on the bank by Reserve Bank of India on account of observations found during an incognito visit by RBI officials at Shalimar Bagh Branch and Vasant Vihar Branch.
Shares trade flat on the NSE at ₹1,359.85.
- October 11, 2024 09:49
Stock market live updates today: JioFinance App is now available on the Google Play Store, Apple App Store and MyJio. The Jio Financial Services stock trades at ₹342.30 on the NSE, down by 0.44%
- October 11, 2024 09:49
Stock market live updates today: Aurionpro launches next-generation transaction banking platform in Saudi Arabia. Shares trade flat on the NSE at ₹1,690
- October 11, 2024 09:48
Stock market live updates today: Top gainers and losers on the NSE at 9.35 am
Top gainers: HCL Tech (1.97%), Wipro (1.43%), Trent (1.18%), Hindalco (1.08%), Tata Steel (0.96%)
Top losers: Cipla (-1.31%), Bajaj Finance (-1.09%), Bharti Airtel (-1.04%), Asian Paints (-0.99%), Power Grid (-0.82%)
- October 11, 2024 09:18
Stock market live updates today: Sensex traded marginally lower by 105.09 points or 0.13% to 81,506.32, and Nifty 50 slipped 28.95 points or 0.12% to 24,969.50 as at 9.16 am.
- October 11, 2024 09:18
Stock market live updates today: WHAT HAPPENED OVERNIGHT
-> SPX -0.21%, Nasdaq -0.05%, Russell 2000 -0.64%
-> US core CPI at 0.31% MoM vs 0.2% expected
-> Some hawkish Fedspeak, FOMC voter Bostic said he’s OK with pause in November
-> UST 10y yield lost 1 bps to 4.06%
-> Dollar Index flat at 102.89
-> Brent Oil up 3.4% to $79.15
Up Ahead
-> US Q3 earnings kick off Friday (JPM, Wells Fargo)
-> China fiscal policy press conference on Saturday
-> Middle East headlines are a risk into the weekend
- October 11, 2024 09:17
Stock market live updates today: Macro and market update
The annual inflation rate in the US slowed for a sixth consecutive month to 2.4% in September 2024, the lowest since February 2021, from 2.5% in August. However, figures came above forecasts of 2.3%. Annual core inflation rate unexpectedly edged up to 3.3%, compared to 3.2% in the previous two months. Given yesterday’s report we expect Sep-24 PCE/Core PCE at 2/2.6% YoY. For rate cuts, we expect the Fed to cut by another 50bps cut in CY24, unless Nov-24 unemployment rate comes near 4%. We are keeping a close eye on the US 10y, which inched to 4.1% which can add to pressure again in EM assets in Q4CY24 - we retain our US 10y outlook at 4-4.4% for CY24 as noted in our mid year outlook in July
The average rate on a 30-year fixed mortgage surged to 6.32% as of October 10th, rebounding further from its mid-September 2022 low of 6.08% seen September 26th, according to Freddie Mac. This rise aligns with increasing long-term Treasury yields, as investors adjusted expectations.
The number of individuals filing for unemployment benefits in the U.S. rose by 33,000, reaching a total of 258,000 for the week ending October 5th, surpassing market expectations of 230,000. This marks the highest level in 14 months, largely driven by substantial increases in Michigan and states affected by Hurricane Helene
Coming to India, The government repurchased Rs 24,453 crore worth of bonds through a buyback auction, which was conducted by the Reserve Bank of India. The Centre had offered to repurchase Rs 25,000 crore worth of securities.
The state of Rajasthan will launch new mineral policy to boost revenue and streamline mining. The policy targets increasing the sector’s contribution to Rajasthan’s gross domestic product from 3.4 per cent in FY24 to 5 per cent by FY30 and up to 8 per cent by FY47, while curbing illegal mining and ensuring environmental protection.
In other global news, The World Trade Organization (WTO) on Thursday revised downwards its projection of world merchandise trade growth to 3 per cent in 2025, from its earlier estimate of 3.3 per cent For 2024, the WTO revised upwards its forecast for merchandise trade growth to 2.7 per cent, up from the previous estimate of 2.6 per cent.
European Central Bank policymakers appeared content with the drop in inflation when they met last month but argued for a gradual policy easing given stubborn price pressures, the accounts of their Sept. 12 policy meeting showed.
Asian markets opened on a mixed note as US markets reacted negatively to a hot US CPI report. Surge in US 10y also brings risk to the Asia assets.
Brent 78.97, USD 102.84, US 10y 4.06%, Nifty futures -0.16%
- October 11, 2024 09:17
Stock market live updates today: Researchbytes Analyst App
https://play.google.com/store/apps/details?id=com.intelegain.rb
Conference call Replay available in Various speeds !
Researchbytes Events Update
As of 07:56 AM Friday 11 October 2024
Can set alert for them at www.researchbytes.com
2:00 PM Anand Rathi Wealth
Dial: +91 22 6280 1112
Weblink: https://tinyurl.com/yn3smk9s
4:00 PM EMERALD
Dial: +91 22 6280 1239
Weblink: https://tinyurl.com/37tvb3hc
GTPL Hathway : (replay)
https://www.researchbytes.com/webcast.aspx?WID=311259
TRIL : (replay)
https://www.researchbytes.com/webcast.aspx?WID=311189
KAYNES TECH : (replay)
https://www.researchbytes.com/webcast.aspx?WID=311146
Baazar Style Re : (replay)
https://www.researchbytes.com/webcast.aspx?WID=311137
North Arc Ca : (replay)
https://www.researchbytes.com/webcast.aspx?WID=311104
Manali Petro : (replay)
https://www.researchbytes.com/webcast.aspx?WID=311029
Indostar Cap : (replay)
https://www.researchbytes.com/webcast.aspx?WID=311018
RPG Life : (replay)
https://www.researchbytes.com/webcast.aspx?WID=310919
Interarch Build : (replay)
https://www.researchbytes.com/webcast.aspx?WID=310828
Yatra.com : (replay)
https://www.researchbytes.com/webcast.aspx?WID=310526
Results today …
https://www.researchbytes.com/Default.aspx?cc=result
Recent interviews …
https://www.researchbytes.com/Default.aspx?cc=interview
Replays available at www.researchbytes.com
- October 11, 2024 09:16
Stock market live updates today: Fund House Recommendations
GS on HDFC Life: Maintain Buy on Company, target price at Rs 820/Sh (Positive)
GS on SBI Life: Maintain Buy on Company, target price at Rs 2000/Sh (Positive)
Bernstein on PB Fintech: Maintain Outperform on Company, target price at Rs 1720/Sh (Positive)
HSBC on VBL: Maintain Buy on Company, raise target price at Rs 780/Sh (Positive)
GS on Godrej CP: Maintain Buy on Company, target price at Rs 1525/Sh (Positive)
Jefferies on GMR Airports: Maintain Buy on Company, target price at Rs 106/Sh (Positive)
UBS on 360 One: Initiate Buy on Company, target price at Rs 1250/Sh (Positive)
Equirus on Mas Fin: Initiate Buy on Company, target price at Rs 401/Sh (Positive)
Citi on Indus Tower: Maintain Buy on Company, target price at Rs 500/Sh (Positive)
Citi on Cipla: Maintain Buy on Company, target price at Rs 1870/Sh (Positive)
UBS on Kotak Bank: Maintain Neutral on Bank, raise target price at Rs 1950/Sh (Positive)
CLSA on Bandhan Bank: Maintain Outperform on Bank, target price at Rs 240/Sh (Positive)
Jefferies on Bandhan Bank: Maintain Neutral on Bank, target price at Rs 240/Sh (Positive)
Goldman Sachs on Bandhan Bank: MD & CEO appointment and CGFMU claim resolution removes near term overhang (Positive)
CLSA on Bandhan Bank: Key overhangs gone, focus will be back on its fundamentals (Positive)
Jefferies Greed & Fear: China’s weight in the Asia Pacific ex-Japan portfolio will increase by 0.5%, with India’s weight reduced by the same amount (Neutral)
JP Morgan on TCS: Maintain Overweight on Company, cut target price at Rs 5100/Sh (Neutral)
Citi on TCS: Maintain Sell on Company, cut target price at Rs 3935/Sh (Neutral)
Investec on TCS: Maintain Sell on Company, target price at Rs 3620/Sh (Neutral)
HSBC on TCS: Maintain Buy on Company, target price at Rs 4540/Sh (Neutral)
Nomura on TCS: Maintain Buy on Company, target price at Rs 4150/Sh (Neutral)
Investec on Bandhan Bank: Maintain Sell on Company, target price at Rs 180/Sh (Neutral)
Nomura on Credit Access: Downgrade to Reduce on Company, target price at Rs 950/Sh (Negative)
- October 11, 2024 08:52
Stock market live updates today: Sensex, Nifty to open marginally higher; IT stocks in focus after TCS misses quarterly profit forecast
Indian shares are set to open marginally higher on Friday, with the focus on IT stocks after Tata Consultancy Services kicked off the earnings season for local tech majors on a dour note as it reported a quarterly profit miss.
The Gift Nifty was trading at 25,102, as of 8:24 a.m. IST, indicating that the benchmark Nifty 50 will open slightly above its close of 24,998.45 on Thursday.
Benchmark index Nifty 50 has witnessed profit-booking over the past two weeks, logging losses in seven of nine sessions. The index has dropped 4.7% from record-high levels scaled on September 27.
- October 11, 2024 07:01
Stock market live updates today: Economic Calendar – 11.10.2024
Hong Kong @ Market Holiday
11.30 U.K. GDP m/m (Expected: 0.2% versus Previous: 0.0%)
11.30 U.K. Industrial Production m/m (Expected: 0.2% versus Previous: -0.8%)
17.30 INDIA Industrial Production y/y (Expected: 4.4% versus Previous: 4.8%)
18.00 U.S. PPI m/m (Expected: 0.1% versus Previous: 0.2%)
19.15 U.S. FOMC Member Barkin Speaks
19.30 U.S. Prelim UoM Consumer Sentiment (Expected: 70.9 versus Previous: 70.1)
19.30 U.S. Prelim UoM Inflation Expectations (Previous: 2.7%)
20.15 U.S. FOMC Member Logan Speaks
Economic Calendar – 13.10.2024
07.30 China CPI y/y (Expected: 0.6% versus Previous: 0.6%)
07.30 China PPI y/y (Expected: -2.5% versus Previous: -1.8%)
Economic Calendar – 14.10.2024
U.S. Bank Holiday (Financial Markets to remain open for Trading)
Japan @ Market Holiday
TENT China Trade Balance (Previous: 91.0B)
- October 11, 2024 07:01
Stock market live updates today: Tata Elxsi reported net income for the second quarter that beat the average analyst estimate.
SECOND QUARTER RESULTS
Net income 2.29 billion rupees, +15% y/y, estimate 2 billion rupees (Bloomberg Consensus)
Revenue 9.55 billion rupees, +8.3% y/y, estimate 9.47 billion rupees
Total costs 7.21 billion rupees, +11% y/y
- October 11, 2024 07:00
Stock market live updates today: Major U.S. listed stocks result calendar 11.10.2024
J P Morgan Chase & Co (Pre market) (Sector- Financial)
Wells Fargo & Company (Pre market) (Sector- Financial)
BlackRock, Inc. (Pre market) (Sector- Financial)
The Bank Of New York Mellon Corporation (Pre market) (Sector- Financial)
Fastenal Company (Pre market) (Sector- Capital Goods)
Progressive Corporation (The) (TENT) (Sector- Financial)
- October 11, 2024 07:00
Stock market live updates today: Fund Flow Activity
10 October 2024 (Rs. In Crs.)
Turnover: (NSE + BSE)
Cash Volume: 93973.46 + 12723.68 Total: 106697.14
F&O Volume: 427653.87 + 1444934.57 Total: 1872588.44
Provisional Cash
FII/FPI: NET SELL: -4926.61
(16514.3 - 21440.91)
DII: NET BUY: +3878.33
(13301.19 - 9422.86)
- October 11, 2024 07:00
Stock market live updates today: LIVESQUAWK INDIA AND REDBOX
ANAND RATHI WEALTH: Q2 CONS NET PROFIT 761M RUPEES VS 575M (YOY)
ANAND RATHI WEALTH: Q2 REVENUE RUPEES 2.42B VS 1.83B (YOY)
ANAND RATHI WEALTH: Q2 EBITDA RUPEES 1.04B VS 775M (YOY) || Q2 EBITDA MARGIN 42.94 % VS 42.43% (YOY)
ANAND RATHI WEALTH: CO DECLARED DIVIDEND OF 7 RUPEES PER SHARE
ANAND RATHI: CO’S MUTUAL FUND DISTRIBUTION REVENUE INCREASED BY 70% YOY TO RUPEES 195 CRORES || CO’S NET INFLOWS GREW BY 128% YOY TO RUPEES 5,700 CRORES
ANAND RATHI: CO EXEC SAYS PROSPECTS ARE POSITIVE, SUPPORTED BY THE RISING HNI POPULATION WHO ARE SEEKING A STRATEGIC APPROACH TO WEALTH CREATION
- October 11, 2024 06:59
Stock market live updates today: U.S. Unemployment Claims
Actual: 258k
Expected: 231k
Previous: 225k
U.S. CPI m/m
Actual: 0.2%
Expected: 0.1%
Previous: 0.2%
U.S. CPI y/y
Actual: 2.4%
Expected: 2.3%
Previous: 2.5%
(Inflation Data seen higher than estimates, supportive for US Dollar)
- October 11, 2024 06:58
Stock market live updates today: Today’s Stock Recommendation: October 11, 2024
- October 11, 2024 06:56
Stock market live updates today: Bank of Korea cuts interest rates for the first time in almost two years
South Korea’s central bank has cut its benchmark interest rate by 25 basis points to 3.25%, the first rate cut since the Federal Reserve started tightening its monetary policy in March 2022. South Korea’s inflation rate dropped to a three-year low at 1.6% in September, well under BOK’s target of 2%.
- October 11, 2024 06:50
Stock market live updates today: Stock to buy today: Laurus Labs (₹465)
The stock of Laurus Labs depreciated in the second half of September. It extended the downswing in the first week of October as well. However, it found support at ₹430 this week. At this point, trendline support and the 200-day moving average coincide, making it a strong base. Corroborating this, the scrip has rebounded from this level. Going ahead, we expect the stock of Laurus Labs to build further momentum in the rally and touch ₹530 in the near-term. Read more
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