A Reuters poll showed economists expect retail price inflation slowed to 6.73% in October, due to weaker food price rises and a strong base year, but remained stubbornly above the Reserve Bank of India’s 6% upper limit.
In early trading, Nifty’s IT and metal indexes were among the top-performing sectors, gaining 0.9% and 1.6%, respectively. The pharma and public sector bank indexes dropped nearly 1%.
Life Insurance Corporation of India rose 7.3% on after reporting a surge in quarterly profit.
More than 1,000 companies are scheduled to report results later in the day. These include low-cost carrier SpiceJet, drugmaker Biocon, tyre manufacturer Apollo Tyres as well as conglomerates Godrej Industries and Grasim Industries.
Foreign institutional investors bought a net of 39.58 billion Indian rupees (about $492 million) of equities on Friday, while domestic investors bought 6.16 billion rupees of shares, as per provisional data available with the National Stock Exchange.
!1 New UpdateClick here for latest updates
STOCK IN FOCUS: DCX Systems falls a day after solid listing show
Zee Entertainment Enterprises reported a 58 per cent decline in profit at Rs 112.8 crore for the September FY23 quarter, dented by weak operating performance and muted topline growth. Revenue for the quarter at Rs 2,028.4 crore grew by 2.5 per cent.
Price as on 14 Nov, 2022 10:34 AM, Click on company names for their live prices.
Keystone Realtors IPO opens: Will this realty player build a strong portfolio for you?
In view of its leading position in the Mumbai Real estate market, a strong pipeline of 35 million sq. feet of saleable area, a strong track record with decent financials, and an attractive valuation, it suggested subscribing to the issue.
Sebi moves to spread collaterals across banks to reduce concentration risk
The Indian capital market regulator is exploring possible measures so that the clearing and settlement system for stock market trades is not over-exposed to a handful of banks. Brokers, serving as clearing members for stock transactions, are required to keep collaterals – in the form of fixed deposits, bank guarantees, securities, and cash – with the stock clearing corporations.
The healthcare chain Fortis Healthcare reported a consolidated profit after tax of Rs 218.3 crore for the second quarter ended September 2022, up 67.1 per cent from Rs 130.6 crore recorded in the year-ago period. The company stated that its consolidated revenues for Q2FY23 stood at Rs 1,607 crore.
Price as on 14 Nov, 2022 09:42 AM, Click on company names for their live prices.
Nifty will open the week looking to clear the record peak of 18604, but, an open above 18480 today could invitelong liquidation pressure that might stretch till atleast 18200 before resuming uptrend. Alternatively,consolidation inside the 18480-350 region could help neutralise the threat of profit booking. If 18200 survives, we could see 18800 this week.
– Anand James – Chief Market Strategist at Geojit Financial Services
Alembic Pharmaceuticals receives USFDA final approval for Cyclophosphamide capsules
Price as on 14 Nov, 2022 09:41 AM, Click on company names for their live prices.
The state-owned insurer LIC reported a multi-fold jump in net profit to Rs 15,952 crore in the September quarter, boosted by profits from its investments. The insurer had a net profit of Rs 1,434 crore in the year-ago period.
Price as on 14 Nov, 2022 09:34 AM, Click on company names for their live prices.
The market construct favours continuation of the rally to new record level in Nifty. The momentum in the market is evident in the 4 straight weeks of gains and FIIs turning buyers in all the last 11 trading days. FIIs are likely to continue buying since the dollar index has declined sharply to 106.6 from the recent high of around 114. DIIs are unlikely to sell big when the market momentum is so strong. Moreover, SIP inflows have crossed Rs 13000 crores a month- a record. The quality of the rally has improved with the participation of high quality large-caps like HDFC twins, RIL, Infosys and TCS. Bank Nifty at record highs can provide resilience to the market. The prospects of banks continue to improve. Nifty IT has more room to go up since fears of slowdown in tech spending need not materialise.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
BHEL, Trident, Tata Steel among most active stocks on NSE
Price as on 14 Nov, 2022 09:20 AM, Click on company names for their live prices.
Opening Bell: Sensex, Nifty open flat amid mixed global cues; LIC surges 8%, Aurobindo Pharma tanks 5%
JP MORGAN ON FINANCIALS
- Q2 results across banks and NBFCs show a strong operating environment
- “Triple tailwinds” coming from higher credit growth, NIM improvement
- PSU banks as a cohort had the best-reported earnings
- Recommend screening stocks around the quality of the retail liability
- Macro risks however persist given twin deficits
- ICICI, Bank of Baroda, and State Bank of India being top Overweights
Pre-open session: Sensex dips 30 points; Nifty below 18,390
Asia shares mixed on Fed warning, China hopes
Asian share markets were mixed on Monday as a top U.S. central banker warned investors against getting carried away over one inflation number, while Chinese stocks gained on signs of aid for the hard-hit property sector.
Quarterly earnings today
1,415 companies are scheduled to report earnings for the quarter ended September. Oil and Natural Gas Corp, Dish TV, and NMDC are among the major ones.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 38.5 points, or 0.21 per cent, higher at 18,474.50, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Will Nifty scale a new peak next week?
While closing decisively above the key hurdle at 18,150 level on Friday, headline index Nifty formed a long bull candle on the daily chart. On the weekly scale, a bull candle with a long lower shadow was noticed. Analysts now see increasing probability of Nifty hitting record high levels around 18,600 level.
Tokyo stocks fall on profit-taking
Tokyo stocks traded lower Monday despite overnight gains on Wall Street, with investors locking in profits after an upbeat end to last week. The benchmark Nikkei 225 index opened higher but was down 0.24 percent, or 68.08 points, at 28,195.49 in morning trade, while the broader Topix index was down 0.44 percent, or 8.64 points, at 1,969.12.
Nasdaq, S&P 500 end sharply higher, fueled by inflation optimism
The S&P 500 and Nasdaq ended sharply higher on Friday, extending a rally started the day before after a soft inflation reading raised hopes the Federal Reserve would get less aggressive with U.S. interest rate hikes.
Oil prices extend gains on China demand hopes
Oil prices rose nearly 1% on Monday, extending gains from the previous session as China eased some of its strict COVID-19 protocols, fuelling hopes of a recovery in economic activity and demand at the world’s top crude importer. Brent crude futures rose 87 cents, or 0.9%, to $96.86 a barrel by 0041 GMT after settling up 1.1% on Friday.
Rupee gains 62 paise to close at 80.78 against USD
The rupee appreciated by 62 paise to close at 80.78 against the US dollar on Friday, as moderating US inflation data coupled with a fall in the dollar index boosted investor sentiments.
Sensex, Nifty on Friday
Dancing to robust global tunes, both the domestic equity indices hit fresh 52-week highs today. While the Sensex rallied 1,181 points to end at 61,795, Nifty ended at 18,350.
Good morning, dear reader! Here’s something to kickstart your trading day
Read More: Sensex Today: Stock Market LIVE Updates: Sensex slips over 150 points, Nifty below