Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark domestic indices ended Monday’s trading session in the negative territory. The NSE Nifty 50 tanked 260.90 points or 1.34% to settle at 19,281.75, while the BSE Sensex shed as much as 825.74 points to 64,571.88. The broader indices ended in the red, with Smallcap and Midcap stocks leading the losses. The Bank Nifty index shed 571.85 points to settle at 43,151.20. Among the other sectoral indices, Media stocks led the losses with 4.98%, while PSU Bank and Metal stocks also tumbled over 3% each. The volatility index (India Vix) ended up 0.80%.
(Source: NSE)
13:25 (IST) 23 Oct 2023 Active Stocks
HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Reliance Industries and Bajaj Finance are among the most active stocks on the NSE Nifty 50.
12:31 (IST) 23 Oct 2023 Metal stocks tank
The Nifty Metal index tanked 3.08% during the intra-day trade on Monday. Network18 Media & Investments, Hathway Cable & Datacom and TV18 Broadcast plunged over 5% each.
11:59 (IST) 23 Oct 2023 ICRA to acquire majority stake in D2K Technologies
ICRA Analytics announced that it has entered into a definitive agreement to acquire a majority stake in D2K Technologies India. “This acquisition will enhance ICRA’s ability to offer tech-backed solutions in risk assessment and analytics, which will play a significant role in shaping the progress of Indian lending and financial services markets,” the company said in a statement.
11:10 (IST) 23 Oct 2023 Vedanta to lose its third CFO
Vedanta may lose its third chief financial officer in as many years just as the mining conglomerate controlled by billionaire Anil Agarwal heads into an ambitious restructuring of its businesses, according to people familiar with the matter, reported Bloomberg.
10:42 (IST) 23 Oct 2023 Market Statistics
(Source: NSE)
09:53 (IST) 23 Oct 2023 Crude Oil outlook
“WTI Crude oil futures ended the previous week marginally higher, as Iran-backed militant attacks on US army bases in Iraq and Syria coupled with escalation in tensions after the hospital blast in Gaza raised supply concerns. Meanwhile, US said they will ease sanctions on Venezuela’s oil exports in exchange for steps to ensure the country holds fair presidential elections next year. EIA data showed crude inventories continue to decline, while output rose to a record high of 13.2 mbpd during the previous week. Oil prices edged lower on Monday as the imminent ground invasion on Gaza strip has been delayed amid diplomatic efforts to secure the release of more hostages, easing concerns,” said Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities.
09:51 (IST) 23 Oct 2023 Derivative outlook
“Nifty weekly contract has highest open interest at 20,000 for Calls and 19,000 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,000 for Puts. Highest new OI addition was seen at 19,600 for Calls and 19,400 for Puts in weekly and at 19,600 for Calls and 19,400 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 13.16%, decreased future index shorts by 0.51% and increase in index options by 25.41% in Call longs, 20.95% in Call short, 29.30% in Put longs and 25.36% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.
09:35 (IST) 23 Oct 2023 Gold movement
“Gold extended its parabolic rally Friday on the key central banks hinting at a pause in their rate hike spree and safe haven demand due to the ongoing middle East conflict. Situation in Middle East remains alarming. It has been reported that for the first time in this conflict, Israeli soldiers clashed with Hamas in Gaza. Occasional clashes with Hezbollah have been reported, too. Humanitarian aid being allowed through Egypt into Gaza can be taken as a tentative positive development. Elevated US yields and firm Dollar will continue to pose downside risk for gold. The ten-year US yields reached fresh 16-year high as the yields approached 5% before settling st 4.92% Friday. The yellow metal is likely to be volatile as bulls aim for $2000. Support for the metal is at $1965/$1945. Resistance is at $2000/$2025.”
– Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.
09:21 (IST) 23 Oct 2023 Markets at open
The NSE Nifty 50 opened at 19,521.60 down 0.10%, the BSE Sensex opened at 65,419.02 up 21.4 points.
09:11 (IST) 23 Oct 2023 Bank Nifty Outlook
“Bank Nifty witnessed a narrow rangebound session hovering near the 43,700-43,800 zone for the last 2 sessions with the bias maintained little bit weak and has the near-term crucial support zone of 43400 levels. A decisive breach below the 43,400 zone shall further weaken the overall trend and expect for further slide till 42,000 levels. Bank Nifty would have the daily range of 43,400-44,000 levels,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.
08:56 (IST) 23 Oct 2023 F&O Ban
The NSE has added Indiabulls Housing Finance to its F&O ban list for October 23, 2023.
08:56 (IST) 23 Oct 2023 Market Outlook
“In the past week, the Nifty index closed at 19,513, marking a downbeat performance influenced by surging US Treasury yields and lackluster initial earnings reports from companies like INFY, BAJAJ FINANCE, and TCS. HDFC BANK’s results also did little to improve sentiment, while geopolitical tensions led to reduced investor exposure. The 2-year and 10-year Treasury notes approached levels not seen since 2006 and 2007, with the 10-year yield nearly reaching the 5% mark, last witnessed in July 2007. However, hopes of sentiment improvement rest on the positive Q2 results from ICICI Bank, Kotak Bank, and RBL Bank, driven by lower provisions and enhanced asset quality. The technical landscape for Nifty and Bank Nifty is challenging, with Nifty trading below the rising trendline from March 2023 and downside risk at the October low. Bank Nifty is also at risk of breaking the trendline from June 2022, with potential downside at 41500. Despite this, optimism remains for TATA Motors, DIXON Technologies, Zomato, and Coal India, offering trading opportunities. Zomato stands out as a stock to consider, with long positions at the current price (CMP 113) targeting 121/143 and more aggressive 1-year targets at 175. Nifty’s options data suggests a trading range of 18900-19700, with 20000 as a key resistance zone. The Volatility Index stands at 10.81.”
– Prashanth Tapse, Senior VP (Research), Mehta Equities.
08:33 (IST) 23 Oct 2023 FII, DII Data
Foreign institutional investors (FII) purchased shares worth net Rs 456.21 crore, while domestic institutional investors (DII) added shares worth net Rs 8.53 crore on October 20, 2023, according to the provisional data available on the NSE.
08:32 (IST) 23 Oct 2023 Crude Oil
WTI crude prices are trading at $87.30, down 0.89%, while Brent crude prices are trading at $91.53, down 0.68%, on Monday morning.
08:12 (IST) 23 Oct 2023 Wall Street
US stocks ended sharply lower for the day and week on Friday as investors worried about more interest rate hikes and the Israel-Hamas conflict spreading, reported Reuters. The tech-heavy Nasdaq Composite tanked 202.37 points, or 1.53%, to 12,983.81. The S&P 500 plunged 53.84 points, or 1.26%, to 4,224.16, while the Dow Jones Industrial Average dropped 286.89 points, or 0.86%, to 33,127.28.
08:12 (IST) 23 Oct 2023 Markets at last week
“Middle East tensions and elevated US bond yields steered the market to a consolidation path this week. A weak start to the earnings season, disappointment from the IT sector, and a mixed bag of results from banks influenced investors to book profits from the table. FIIs continued to withdraw funds as the US Fed Chair emphasised the imperative for continued monetary tightening policy and hold interest rate high. Investors are likely to remain cautious in the near term due to concerns about the long implication of geopolitical tensions in the Middle East.
We expect volatility to persist, although long-term investors will find bargain hunting opportunities due to an optimistic Q2 FY24 earnings estimate and a festival-driven demand environment. Weak ahead, market participants will vigilantly monitor US GDP data for insights into the Fed’s interest rate trajectory. Additionally, as the earnings season gains momentum, investor sentiment will be shaped by corporate’s management commentary and bottom-up investment approach.”
– Vinod Nair, Head of Research at Geojit Financial Services.
