Adani Enterprises Ltd. (3575.70, 6.82%), Adani Wilmar Ltd. (716.45, 6.55%) are among the top gainers as markets close higher. Nifty 50 closed at 18145.40 (133.2, 0.7%) , BSE Sensex closed at 61121.35 (374.8, 0.6%) while the broader Nifty 500 closed at 15537.40 (113.4, 0.7%)

Market breadth is horizontal. Of the 1928 stocks traded today, 971 were gainers and 883 were losers.

Markets will be closely watching comments from the US Federal Reserve tomorrow. Even as the Fed struggles to control inflation, it is facing financial markets and a non-bank sector that has adapted to a very low-interest rate regime. 

While the Fed is expected to make another big interest rate hike of 75 bps, Fed watchers are hoping that the Fed will signal a slowdown in subsequent hikes to limit the fallout in the domestic and international economy. But historically, control over persistent inflation has not come without economic pain. 

• India's foreign exchange reserves are set to drop more than was predicted by the end of the year, as the Reserve Bank of India cushions the rupee against a rising dollar, according to a Reuters poll of economists. The RBI has drawn down approximately $118 billion from its currency reserves (from a peak of $642 billion in September 2021). Despite this, the rupee has dropped over 10% in the past year against the dollar.

• Dhanuka Agritech board approves a share buyback at Rs 850 per share. The board has fixed November 18 as the record date for the buyback offer.

• Steel Strip Wheels in its October update, says that revenue grew by 11% YoY  for the month, with the biggest jump (103%) in the alloy wheels segment. 

• India's manufacturing PMI rose in October, to 55.3 from 55.1 in September (a reading above 50 indicates expansion in manufacturing activity). 

  #Economy | India's manufacturing PMI for October has come in above 50 for the 16th month in a row.
  
  Read more ????https://t.co/AJnF67CLk8#PMI #IndianEconomy #Manufacturing

  — Moneycontrol (@moneycontrolcom) November 1, 2022

• Pharma companies Torrent Pharma and Cipla hit their all time highs today. Pharma and healthcare indices are among those rising sharply today.

• Brokerages expect the Indian stock market to be resilient according to an ET survey, despite rising global stresses and a strengthening dollar. 

  #Nifty50 is expected to remain above the 18,000 mark and Sensex above the 60,000 level at the end of November, according to a survey conducted by @ETMarkets with 15 brokerages. #StockMarketNews | #StockMarketIndia https://t.co/yQEk0MGWDn pic.twitter.com/R7nbLptJh1

  — Economic Times (@EconomicTimes) November 1, 2022

• Crude oil prices are rising again after it had softened from the ~$120 per barrel levels it hit mid June 2022. With prices hovering at around $95 per barrel, analysts predict that it will cross "well above" $100 levels in December, as EU restrictions on Russian oil go into effect on December 7.  

• Recently listed startups Delhivery and Nykaa are rising sharply today on the back of earnings buzz. In its recent October update, Delhivery said that it had "successfully onboarded 200+ new customers in Q2FY23, driven by improving service metrics". Nykaa's long term share price trend has been unfavourable - the stock has fallen over 12% in the last three months.  

• HDFC Securities downgrades Bandhan Bank from 'Buy' to 'Accumulate' after the bank's Q2 results missed its estimates, and saw its asset quality weaken and write-offs accelerate. The analysts' outlook on the bank minced no words, saying that Bandhan Bank faces "existential questions on the quality and recoverability of its core customer franchise."

• Speaking of FIIs, they have turned net buyers in the Indian stock market over the last three days, after selling Indian stocks in the last month. 

• FII shareholding in infrastructure conglomerate Larsen & Toubro recovered in the September quarter after falling in June. 

• Axis Bank is an outlier among finance stocks today, as it falls sharply on news that Bain Capital plans to sell a 1.24% stake in the bank through block deals. This stake would be worth around Rs 3,400 crore.

Riding High:

Largecap and midcap gainers today include Adani Enterprises Ltd. (3575.70, 6.82%), Adani Wilmar Ltd. (716.45, 6.55%) and Divi's Laboratories Ltd. (3836.45, 6.31%).

Downers:

Largecap and midcap losers today include Punjab National Bank (40.10, -5.98%), Axis Bank Ltd. (871.75, -3.78%) and Union Bank of India (52.60, -2.41%).

Movers and Shakers

25 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included ITI Ltd. (115.10, 8.48%), Shree Renuka Sugars Ltd. (58.35, 7.96%) and Godfrey Phillips India Ltd. (1590.55, 7.14%).

Top high volume losers on BSE were Timken India Ltd. (2828.85, -5.72%), Escorts Kubota Ltd. (2008.50, -1.46%) and IFB Industries Ltd. (939.80, -1.24%).

TCI Express Ltd. (1873.95, -1.01%) was trading at 12.0 times of weekly average. Heidelberg Cement India Ltd. (199.10, 5.29%) and Divi's Laboratories Ltd. (3836.45, 6.31%) were trading with volumes 6.3 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

22 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - AIA Engineering Ltd. (2699.65, 0.67%), Bank of Baroda (147.70, 0.00%) and Bharat Forge Ltd. (850.70, 1.98%).

Stocks making new 52 weeks lows included - Intellect Design Arena Ltd. (425.10, -1.51%) and Chemplast Sanmar Ltd. (381.00, 1.55%).

21 stocks climbed above their 200 day SMA including ITI Ltd. (115.10, 8.48%) and Equitas Holdings Ltd. (107.95, 6.99%). 5 stocks slipped below their 200 SMA including Swan Energy Ltd. (211.70, -6.53%) and Blue Dart Express Ltd. (7347.30, -3.16%).