Share Market Highlights- Nifty settles above 19810, Sensex over 66470; Bank Nifty adds 150 points

Share Market Highlights: Nifty settles above 19810, Sensex over 66470; Bank Nifty adds 150 points

Share Market News Today | Sensex, Nifty, Share Prices Highlights:  The benchmark domestic indices ended Wednesday’s trading session in positive territory. The NSE Nifty 50 gained 0.62% to settle at 19,811.35, while the BSE Sensex added as much as 393.69 points to 66,473.05. The broader indices settled in green. The Bank Nifty index added as much as 156.75 points or 0.35% to settle at 44,516.90. Gains among the other sectoral indices were led by Auto, FMCG, Media and Realty stocks, while PSU Bank and IT stocks faced corrections. The volatility in the market remained low as the volatility index (India Vix) closed down 2.52% on Wednesday.Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates

15:35 (IST) 11 Oct 2023 Markets at close

The NSE Nifty 50 gained 0.62% to settle at 19,811.35, while the BSE Sensex added as much as 393.69 points to 66,473.05.

14:29 (IST) 11 Oct 2023 India regulator probes ties between Adani Group and Gulf Asia fund

India's market regulator is investigating the relationship between the Adani Group and a fund incorporated in the British Virgin Islands to see if there has been a violation of share ownership rules, according to Reuters.

“The fund is called Gulf Asia Trade & Investment, the sources said. It is owned by Dubai businessman Nasser Ali Shaban Ahli, according to checks of its website last month although the site has since been pulled down.”

14:11 (IST) 11 Oct 2023 Traders eye US Fed’s FOMC meeting minutes

The release of the FOMC meeting minutes today is keenly anticipated by investors, analysts, and economists who are interested to know more about the world’s biggest central bank’s rate-hike trajectory. Global investors, therefore, pay close attention to the US Federal Open Market Committee (FOMC) meeting minutes. The FOMC meeting minutes reveal the opinions of Fed members on the terminal rate and the potential Federal Funds Rate trajectory.

13:55 (IST) 11 Oct 2023 Volume Gainers

Ace Integrated Solutions, Laxmi Organic Industries, MRO-TEK Realty, Sharda Cropchem, Archidply Industries, Asian Hotels (East), Asian Hotels (East), TVS Electronics, Prakash Pipes and Raj Television Network are among the top volume gainers on the NSE.

13:39 (IST) 11 Oct 2023 Active stocks

HDFC Bank, Infosys, Zomato, Bank of Baroda and Gujarat Mineral Development Corpn are among the most active stocks on the NSE.

13:22 (IST) 11 Oct 2023 Escorts Kubota hits 52-Week high

Share price of Escorts Kubota surged 1.37% to hit a 52-week high of Rs 3,440.15 during the intra-day trade on Wednesday.

12:27 (IST) 11 Oct 2023 Glenmark Life Sciences announces Interim Dividend

“We are pleased to inform you that the Board of Directors at their Meeting held on October 9, 2023 have declared Interim Dividend of Rs 22.5/‐ per Equity Share of face value of Rs 2/‐ each for the financial year ending March 31, 2024. The Interim Dividend, will be paid on or after October 23, 2023,” read the company's letter to its Shareholders.

10:57 (IST) 11 Oct 2023 IT Stocks shine

Nifty IT stocks surged 1.16% during the intra-day trade on Wednesday. Wipro and Mphasis led the gains with 3.65% and 2.56%, respectively.

09:52 (IST) 11 Oct 2023 Technical Outlook

“It will be pivotal for Nifty to maintain levels above 19,650, empowering bullish sentiments in building their positions. A swift ascent above 19,700 in the initial hour of trade could potentially trigger an unwinding of calls, propelling the index to higher levels. Immediate support is situated at 19,550 levels. Following a sharp surge on Monday, the volatility index, often referred to as the 'fear gauge', exhibited a decline on Tuesday, indicative of a market recovery. It concluded at 11.27 points, down by 1.1 percent. Notably, today marks the expiry of Bank Nifty options, and there may be an observed short covering if the level of 44,450 is surpassed in today's trading session.”

– Ameya Ranadive CMT CFTe Equity Research Analyst, Choice Broking

09:48 (IST) 11 Oct 2023 USD-INR Outlook

“The USD – INR 27th October futures contract exhibited a narrow trading range. Upon analyzing the daily technical chart, we observed that the currency pair is currently trading above its moving average trend-line support level of 83.20, and the RSI (Relative Strength Index) is above the 50 level. Considering the technical setup, it's worth noting that the MACD (Moving Average Convergence Divergence) is displaying a negative divergence. However, the currency pair is managing to stay above the 83.20 level. On the daily technical chart, the pair finds support in the range of 83.20 to 83.05, while resistance is positioned between 83.50 and 83.70. A critical resistance level to watch is 83.35, and if the pair successfully crosses and sustains above this level, it could indicate further strength in the upcoming trading sessions,” said Rahul Kalantri, VP Commodities, Mehta Equities.

09:45 (IST) 11 Oct 2023 Nifty surges above 19800

The NSE Nifty 50 surged 127.05 points, or 0.65%, to 19,816.90 during the early trade on Wednesday. Dr Reddy's Labs led the gains with 1.66%, while Infosys, NTPC, BPCL, UltraTech Cement, Adani Enterprises, Apollo Hospitals, UPL and Grasim Industries gained 1% each.

09:21 (IST) 11 Oct 2023 Markets at open

The NSE Nifty 50 opened at 19,767, up 0.39%, while the BSE Sensex opened at 66,376.42, up 297.06 points.

09:13 (IST) 11 Oct 2023 Bank Nifty Outlook

“The bulls made a strong comeback, defending the support zone of 44000-43800, where fresh put writing is evident. The next immediate hurdle is positioned at 44500, and a break above this level is expected to trigger further short covering, potentially pushing the index towards the 45000 mark. Additionally, the momentum indicator RSI has provided a positive crossover, confirming a buy signal,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

09:09 (IST) 11 Oct 2023 Technical View

“On the daily charts, we can observe that the Nifty has witnessed a trend reversal today. It has started to form a higher bottom and also breached the previous swing high confirming the reversal. The momentum indicator still has a negative crossover however it is likely to align with the price action soon. The pullback is likely to continue till 19,778 which is the 20-day moving average 19,770. Beyond that, it has the potential to stretch higher till 19,883 which is the 61.82% Fibonacci retracement level of the entire fall from 20,222 till 19,333. On the downside, the swing low of 19,480 is likely to act as a short-term support,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

09:07 (IST) 11 Oct 2023 Derivative outlook

“Nifty weekly contract has highest open interest at 20,000 for Calls and 19,600 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,500 for Puts. Highest new OI addition was seen at 20,100 for Calls and 19,600 for Puts in weekly and at 20,100 for Calls and 19,700 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 5.44%, decreased future index shorts by 3.53% and in index options by -15.71% in Call longs, 2.70% in Call short, -8.11% in Put longs and 38.98% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:06 (IST) 11 Oct 2023 Market Outlook

“It is important to appreciate the fact that even in the midst of the West Asian crisis, markets are resilient, globally. The fundamental support to the market comes from the resilience of the US economy, the declining US bond yields and the hope that the Israel-Hamas conflict will remain a localised crisis which will not impact crude prices. However, investors should remain cautious since the situation taking a turn for the worse cannot be ruled out. The fact that Nifty is just 2.5% away from the all-time high indicates the strength and resilience of the market. Even though FIIs are sustained sellers in the market, buying by DIIs, HNIs and retail are counterbalancing the selling and supporting the market. Safety is in large-caps.”

– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

08:59 (IST) 11 Oct 2023 IMF raises India GDP growth forecast by 20 bps to 6.3%

The International Monetary Fund (IMF) has raised its India’s GDP growth forecast for the current financial year by 20 basis points (bps) to 6.3%, mainly due to “stronger-than-expected” consumption during April-June quarter.

India’s GDP grew 7.8% in the first quarter of FY24, as against 6.1% in January-March. The share of private final consumption expenditure in the country’s GDP in April-June rose to 57.3% from 55.0% in January-March.

08:43 (IST) 11 Oct 2023 Stocks to watch

TCS, Bank of Baroda, Wipro, Samvardhana Motherson International and IDFC First Bank are among the top stocks to watch during Wednesday's trading session.

08:42 (IST) 11 Oct 2023 F&O Ban

The NSE has added Delta Corp, Indiabulls Housing Finance, L&T Finance Holdings, Manappuram Finance, MCX India, and Punjab National Bank to its F&O ban list for October 11, 2023.

08:12 (IST) 11 Oct 2023 FII, DII Data

Foreign institutional investors (FII) offloaded shares worth net Rs 1,005.49 crore, while domestic institutional investors (DII) added shares worth net Rs 1,963.34 crore on October 10, 2023, according to the provisional data available on the NSE.

08:11 (IST) 11 Oct 2023 Crude Oil

WTI crude prices are trading at $86.04, up marginally 0.04%, while Brent crude prices are trading at $87.78, up 0.15%, on Wednesday morning.

08:11 (IST) 11 Oct 2023 Wall Steet

Wall Street’s major indexes ended higher on Tuesday. The tech-heavy Nasdaq Composite gained 78.61 points, or 0.58%, to 13,562.84. The Dow Jones Industrial Average added 134.65 points, or 0.40%, to 33,739.30, while the S&P 500 rose 22.58 points, or 0.52%, to 4,358.24.