
Trendlyne Analysis
Indian indices closed in the red with the volatility index, India VIX, rising above 20.5%. The Nifty 50 lost over 100 points but closed just above the 17,000 mark. European stocks traded higher after opening in the red as investors awaited the US inflation print to be released later in the day. India’s retail inflation rose to a five-month high of 7.41% in September and stayed above RBI’s upper tolerance limit of 6% for three consecutive quarters. India's index of industrial production fell 0.8% YoY in August, missing analysts' estimates.
Asian indices closed lower as US indices closed flat to lower on Wednesday. Minutes from the previous US Federal Reserve meeting indicated that the policymakers agreed to maintain a restrictive monetary policy stance going forward. Brent crude oil futures traded higher after posting losses for three straight trading sessions amid demand concerns due to rising risks of a global recession.
Nifty Smallcap 100 and Nifty Next 50 closed in the red, following the benchmark index. Nifty Realty and Nifty Bank closed lower than Wednesday’s levels. Nifty IT closed lower as investors assess major IT companies’ Q2FY23 results.
Nifty 50closed at 17,017.80 (-105.8, -0.6%), BSE Sensexclosed at 57,235.33 (-390.6, -0.7%) while the broader Nifty 500closed at 14,732.35 (-97.6, -0.7%)
Market breadth is overwhelmingly negative. Of the 1,934 stocks traded today, 588 were on the uptick, and 1,298 were down.
HCL Technologiessees a long build-up in its October 27 future series as its open interest rises 6.8% with put to call ratio of 0.61.
Yashovardhan Saboo, Founder and Chairman of Ethos, expects Q3FY23 to be the biggest quarter for the company driven by festive and wedding season. He also expects the company’s revenue to grow 30-35% during FY23.
#OnCNBCTV18 | No #margin difference between #online & offline business. See #FY23 revenue growth of 30-35%. Will do ?75 cr in pre-owned watches segment this year, ?120 cr next year, says Yashovardhan Saboo of Ethos pic.twitter.com/NoF9ssDCEE
— CNBC-TV18 (@CNBCTV18Live) October 13, 2022Hindustan Petroleum CorpandSanofi Indiahit their 52-week lows of Rs 205.6 and Rs 5,750.1, respectively. Both stocks fall for four consecutive sessions.
Samvardhana Motherson International, Bank of Indiaand Indian Hotelstrade below their second support orS2 levelas market trades lower.
Consulting Services, Commodity Printing/Stationery, and Shipping industries rise more than 10% over the past week.
Rites is rising as it secures an order worth Rs 499.4 crore from Bangalore Metro Rail Corp through a consortium. The order pertains to the construction of a depot cum workshop. The share of the company in this order is 51%.
Tata Teleservices is rising as it partners with Google Cloud to offer Google Workspace to small and medium businesses. The company will provide businesses with a single platform for communication and collaboration of their hybrid workforce.
The Society of Indian Automobile Manufacturers (SIAM) data shows that September auto wholesales surged due to the onset of the festive season. Two-wheeler wholesales rose 13% YoY to 17.4 lakh units and passenger car wholesales were up 122% YoY.
#September#SIAM Data | Passenger car sales rise 122% to 1.42 lakh units vs 1.64 lakh units on YoY basis, while utility vehicle sales surge 73% pic.twitter.com/gFkYR9aTkH
— CNBC-TV18 (@CNBCTV18Live) October 13, 2022Tanla Platforms is rising after it sets October 25 as the record date for its proposed buyback of shares. The price is set at Rs 1,200 per share.
ICICI Securities upgrades HCL Technologies to 'Add' rating from 'Buy' with a target price of Rs 1,091. This indicates an upside of 7.2%. The brokerage believes that the company's risk-reward has become favourable as its order intake has been strong for the pas two quarters and a strong dividend yield gives the company a good base limiting downside risk. It expects the company's revenue to grow at a CAGR of 8.9% over FY22-24.
KR Choksey expects Sonata Software’s net profit to rise 12% YoY in Q2FY23, according to reports. It also expects net sales to rise 25.9% YoY. The stock shows up on a screener with increasing profits for the past four quarters.
Stocks like State Bank of India, Bajaj Finance and Housing Development Finance Corp are falling in trade. All stocks of the broader Nifty Financial Services index are trading in the red.
Oberoi Realty, Au Small Finance Bank, DCM Shriram, and Havells India’s weekly average delivery volumes rise ahead of their Q2FY23 results
India’s CPI inflation rises to a five-month high of 7.41% in September, compared to 7% in August. The rise is due to a surge in food inflation at 8.6% as against 7.6% in August.
India's retail #inflation surged to 7.4% in September, logging the third straight quarter where the average print stayed above the #RBI's tolerance ceiling of 6% and it breached the medium-term target of 4% for three years.https://t.co/QLefYxKE8J
— Economic Times (@EconomicTimes) October 12, 2022Sterling and Wilson Renewable Energy is falling as it posts a net loss of Rs 296.9 crore in Q2FY23. The company's operating loss rises 7.7% to Rs 370.2 crore as its revenue falls 74.1% QoQ. The company features in the screener which reflects stocks that have a declining return on capital employed in the last two years.
ICICI Prudential Life Insurance sells a 0.54% stake (1.8 lakh shares) in Amber Enterprises for Rs 41.8 crore in a bulk deal on Wednesday.
India’s index of industrial production or IIP contracts 0.8% in August, an 18-month low. The contraction is due to fall in output of manufacturing and mining sectors.
Industrial production contracts 0.8% in August: Government data https://t.co/mAIdJMCZlA
— TOI Business (@TOIBusiness) October 12, 2022Dolly Khannasells stake in Goa Carbonsduring Q2FY23, she now holds below 1% stake in the company as against a 1.1% stake at the end of Q1FY23.
HCL Technologies is rising as its Q2FY23 net profit rises 6.3% QoQ to Rs 3,489 crore driven by robust demand for cloud, engineering, and digital services. Its revenue grows by 5.2% QoQ led by the IT & business services segment. The stock shows up on the screener which lists companies with increasing revenue sequentially for the last eight quarters.
Wipro’s Q2FY23 net profit rises 3.5% QoQ to Rs 2,649.1 crore. Revenue increases 4.7% QoQ as revenue from the IT services segment (Americas, Europe and APMEA) rises. The management says that it expects revenue growth of 0.5-2% for Q3FY23 and 10-12% for FY23.
Riding High:
Largecap and midcap gainers today include HCL Technologies Ltd. (982.10, 3.16%), Dr. Lal Pathlabs Ltd. (2,358.80, 2.40%) and Nippon Life India Asset Management Ltd. (271.75, 2.39%).
Downers:
Largecap and midcap losers today include Wipro Ltd. (379.10, -7.07%), Indian Hotels Company Ltd. (317.15, -4.04%) and Zomato Ltd. (61.25, -3.92%).
Crowd Puller Stocks
15 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Tanla Platforms Ltd. (812.15, 3.62%), HCL Technologies Ltd. (982.10, 3.16%) and Sun Pharma Advanced Research Company Ltd. (236.75, 3.09%).
Top high volume losers on BSE were Wipro Ltd. (379.10, -7.07%), Affle (India) Ltd. (1,180.65, -2.43%) and Eris Lifesciences Ltd. (707.95, -1.84%).
Godrej Industries Ltd. (430.30, -0.59%) was trading at 5.4 times of weekly average. KEI Industries Ltd. (1,453.10, 1.46%) and Computer Age Management Services Ltd. (2,596.60, 1.14%) were trading with volumes 4.7 and 4.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
7 stocks made 52-week highs, while 12 stocks hit their 52-week lows.
Stocks touching their year highs included - IDFC Ltd. (74.60, -2.29%), Sun Pharmaceutical Industries Ltd. (968.40, 1.34%) and TVS Motor Company Ltd. (1,077.60, -0.93%).
Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (575.60, -1.16%) and Biocon Ltd. (262.40, -1.89%).
12 stocks climbed above their 200 day SMA including Rajesh Exports Ltd. (672.70, 3.72%) and Marico Ltd. (515.55, 1.41%). 19 stocks slipped below their 200 SMA including Havells India Ltd. (1,230.95, -3.09%) and Avanti Feeds Ltd. (470.90, -2.43%).