Nifty 50 closed at 25,127.95 (163.7, 0.7%) , BSE Sensex closed at 81,973.05 (591.7, 0.7%) while the broader Nifty 500 closed at 23,727.05 (115.8, 0.5%). Market breadth is in the red. Of the 2,345 stocks traded today, 1,080 were on the uptick, and 1,224 were down.
Nifty 50 closed higher after rising in the morning session. The Indian volatility index, Nifty VIX, fell 1.7% and closed at 13 points. Wipro's board of directors scheduled to meet on October 16-17 to consider a proposal for a bonus issue.
Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, taking cues from the benchmark index. Nifty Realty and BSE Realty Index were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 2.6%.
Asian indices closed in the green, except for China’s Hang Seng and FTSE China 50 index which closed in the red. European indices are trading mixed. US index futures are trading mixed, indicating a positive start to the trading session. Brent crude oil futures are trading lower as China's stimulus plans failed to inspire confidence among investors.
Relative strength index (RSI) indicates that stocks like Divi's Laboratories, Ipca Laboratories, and Hitachi Energy India are in the overbought zone.
Alok Industries falls as its net loss widens by 49.9% YoY to Rs 262.1 crore in Q2FY25, due to higher finance costs. Revenue decreases 35% YoY to Rs 898.8 crore during the quarter. It appears in a screener of stocks with book value per share deteriorating over the past two years.
Hindustan Construction Co is rising as it receives a letter of acceptance (LoA) worth Rs 1,031.6 crore from Maharashtra State Road Development Corporation. The project involves building a two-lane bridge over Agardanda Creek, connecting Tokekhar and Turumbadi in Raigad District, as part of the Revas-Reddi Coastal Highway (MSH-04).
Reports suggest that 10.4 lakh shares (0.3% equity) of Trent, amounting to Rs 846.1 crore have changed hands in a block deal.
Sharekhan maintains its 'Buy' call on Tata Motors with a higher target price fo Rs 1,319 per share. This indicates a potential upside of 41.9%. The brokerage believes the company's sales will improve on the back of a recovery in sales of Jaguar Land Rover in H2FY25. It expects the firm's revenue to grow at CAGR of 11.2% over FY25-26.
Vascon Engineers surges as it receives a letter of acceptance (LoA) worth Rs 57.2 crore from Mumbai Metro Rail Corporation, Government of Maharashtra. The LoA involves building a commercial structure at Kalbadevi (K2) on specific land parcels in the Bhuleshwar Division. The project aims to support the rehabilitation of people affected by the Metro Line 2/3 in Kalbadevi Girgaon.
Hathway Cable & Datacom rises sharply as its net profit grows 28.6% YoY to Rs 25.8 crore in Q2FY25. Revenue increases by 6% YoY to Rs 512.7 crore, helped by improvements in the cable television and securities trading segments. It shows up in a screener of stocks with increasing revenue for the past two quarters.
The Society of Indian Automobile Manufacturers (SIAM) reports a 1.4% YoY decline in overall PV sales to 3.56 lakh units in September. Two-wheeler and three-wheeler sales increase 15.8% YoY and 6.7% YoY to 20.3 lakh and 79,683 units, respectively.
Eraaya Lifespaces is rising as its board of directors schedules a meeting for October 19 to consider a proposal for a stock split.
PNC Infratech is rising as it receives an order worth Rs 2,039.6 crore from the City & Industrial Development Corporation of Maharashtra (CIDCO) to develop over 20-meter-wide roads, build major and minor structures, and complete electrical works.
Oil & Natural Gas Corp reportedly plans to set up mini-LNG plants to transport natural gas from wells in areas without pipelines. The company plans to set up these plants in five locations in Andhra Pradesh, Jharkhand, and Gujarat.
India’s WPI inflation rises to 1.8% in September from 1.3% in August, driven by a sharp increase in the prices of food items. Food articles inflation surged to 11.5% during the month, up from 3.1% in August.
Adani Energy Solutions enters an agreement with Kenya Electricity Transmission Co (Ketraco) to develop, finance, and manage transmission infrastructure in Kenya. The project is estimated to cost $736 million and involves constructing transmission lines and substations.
Sudarshan Chemical Industries' board of directors schedules a meeting on Wednesday to consider raising funds by issuing equity shares through a preferential issue, qualified institutional placement (QIP), rights issue, or other modes.
Valor Estate secures a letter of acceptance from the Municipal Corporation of Greater Mumbai (MCGM) to construct 13,374 affordable housing units under the project-affected persons (PAP) Scheme. The project has a completion timeline of 60 months.
Mutual funds increase their stake in One97 Communications (Paytm) by 15% in Q2FY25, compared to 6.8% in Q1FY25. Mutual funds raised their holdings in the company significantly between July and September, as it achieved a 70% return.
KR Choksey retains its 'Accumulate' call on Tata Consultancy Services with a target price of Rs 4,587 per share. This indicates a potential upside of 11.1%. The brokerage expects the company's revenue to grow, driven by expectations of increased discretionary spending due to interest rate cuts. It expects the firm's revenue to grow at a CAGR of 8.5% over FY25-27.
Gensol Engineering surges as it secures an order worth AED 81.6 million (Rs 186 crore) from UAE’s leading sustainable development and clean energy development company. The project involves designing, constructing, and providing long-term operation and maintenance for 23 megawatt peak (MWp) rooftop solar photovoltaic (PV) systems in Dubai.
JSW Energy is rising as it enters an energy storage facility agreement (ESFA) with the Maharashtra State Electricity Distribution Company (MSEDCL) to procure 1,500 MW or 12,000 megawatt-hours (MWh) of pumped hydro energy storage. As per the agreement, JSW will supply energy storage capacity for 40 years at a fixed capacity charge of Rs 84.7 lakh per MW per annum.
JP Morgan initiates coverage on Larsen & Toubro with an ‘Overweight’ rating and target price of Rs 4,360. The brokerage believes the company is well-positioned to navigate the capex cycle in India and the Middle East. It also highlights the attractive valuations and strong earnings growth.
Wipro rises as its board of directors schedules to meet on October 16-17 to consider a proposal for a bonus issue.
Ashoka Buildcon is rising as it bags orders worth Rs 2,000 crore from Maharashtra State Road Development Corp (MSRDCL) for the engineering, procurement, and construction work of two bridges in Ratnagiri, Maharashtra.
Premier Energies is rising as its subsidiaries, Premier Energies International and Premier Energies Photovoltaic, receive orders worth Rs 765 crore from various customers to supply solar PV cells and modules.
Avenue Supermarts falls sharply as its Q2FY25 net profit misses Forecaster estimates by 4.6% despite growing 5.8% YoY to Rs 659.6 crore, helped by inventory destocking. Revenue increases by 14.3% YoY to Rs 14,478 crore during the quarter. It shows up in a screener of stocks where mutual funds have decreased their shareholding in the last quarter.
Nifty 50 was trading at 25,055.95 (91.7, 0.4%), BSE Sensex was trading at 81,647.90 (266.5, 0.3%) while the broader Nifty 500 was trading at 23,686.65 (75.4, 0.3%).
Market breadth is ticking up strongly. Of the 2,009 stocks traded today, 1,301 showed gains, and 642 showed losses.
Riding High:
Largecap and midcap gainers today include Federal Bank Ltd. (196.74, 4.9%), Oberoi Realty Ltd. (1,997.80, 4.1%) and Wipro Ltd. (549.55, 4.0%).
Downers:
Largecap and midcap losers today include Avenue Supermarts Ltd. (4,183.60, -8.5%), Bandhan Bank Ltd. (200.06, -4.9%) and Colgate-Palmolive (India) Ltd. (3,522.45, -4.5%).
Volume Rockets
15 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Aptus Value Housing Finance India Ltd. (389.65, 8%), Esab India Ltd. (6,463, 5.1%) and Oberoi Realty Ltd. (1,997.80, 4.1%).
Top high volume losers on BSE were Avenue Supermarts Ltd. (4,183.60, -8.5%), Colgate-Palmolive (India) Ltd. (3,522.45, -4.5%) and Procter & Gamble Hygiene & Healthcare Ltd. (16,526.85, -0.7%).
Poly Medicure Ltd. (2,387.50, 1.9%) was trading at 13.7 times of weekly average. KSB Ltd. (914.15, 0.9%) and JK Cement Ltd. (4,310, 1.7%) were trading with volumes 6.6 and 6.4 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
18 stocks made 52 week highs, while 2 stocks hit their 52 week lows.
Stocks touching their year highs included - Divi's Laboratories Ltd. (6,207, 1.1%), Glenmark Pharmaceuticals Ltd. (1,818.15, 1.5%) and HCL Technologies Ltd. (1,855.90, 0.9%).
Stocks making new 52 weeks lows included - CreditAccess Grameen Ltd. (1,055, -1.9%) and CSB Bank Ltd. (305.90, -0.5%).
6 stocks climbed above their 200 day SMA including Narayana Hrudayalaya Ltd. (1,268.80, 3.9%) and Mastek Ltd. (2,776, 2.4%). 12 stocks slipped below their 200 SMA including Avenue Supermarts Ltd. (4,183.60, -8.5%) and Bandhan Bank Ltd. (200.06, -4.9%).