sensex today: Live stock market updates: Sensex slides 100, Nifty below 18,300; Apollo Tires jumps 5%; NMDC falls 4% as Citi downgrades its shares

By Joey J. Garrison On Nov 15, 2022

Benchmark equity indices on Tuesday gave up initial gains to trade lower.

In the Sensex pack, UltraTech Cement, ICICI Bank, NTPC, IndusInd Bank, Bharti Airtel, and Mahindra & Mahindra were the top early trade winners.

ITC, Tata Consultancy Services, Tech Mahindra, Sun Pharma and HDFC were among the laggards.

Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong were trading higher, while Seoul traded lower.

Wall Street ended in negative territory on Monday.

“The strongest tailwind for equity markets globally is the spike in US inflation and the possibility of a slower pace of rate hikes. Consistent with this trend, inflation in India’s CPI also fell to 6.7% in October from 7.4% in September.

“Crude’s decline to $92 (per barrel) is another bright spot. All of this may take the Nifty to a new all-time high, but in typical market characteristics, this may not happen when the consensus expects let that happen,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The BSE benchmark was down 170.89 points or 0.28% to 61,624.15 on Monday. The Nifty fell 20.55 points or 0.11% to end at 18,329.15.

The international oil benchmark, Brent, traded down 0.13% to $93.02 a barrel.

Foreign institutional investors (FIIs) remained net buyers on Monday as they bought shares worth Rs 1,089.41 crore, according to exchange data.

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NYKAA SLIPS NEARLY 7%

SpiceJet shares fell more than 4% in morning trading on Tuesday after the company reported a widening net loss to Rs 837.8 crore in the three months to September. The stock, after a weak start, fell further by 4.24% to Rs 37.20 on BSE. SpiceJet on Monday reported a widening net loss to Rs 837.8 crore in the three months to September as record fuel prices and the depreciation of the rupee caused turbulence for the budget carrier.

Price as of Nov 15, 2022 11:32 amClick on company names for their live prices.

BUZZING: Micro Fusion Extends Losses, Down 7% From IPO Price

Shares of Indian Railway Catering and Tourism Corporation (IRCTC), owned by Indian Railways, fell 3.6% to Rs 731.50 in Tuesday’s intraday trading on BSE as its consolidated net profit fell by 7.94% to Rs 226 crore QoQ in the second quarter of FY23.

Price as of Nov 15, 2022 11:07Click on company names for their live prices.

STOCK IN FOCUS: SOBHA LTD.

Shares of Knowledge Marine & Engineering Works were locked in the upper circuit on Tuesday to hit a new 52-week high as it posted a strong performance in the second quarter and veteran investor Ashish Kacholia is likely to enter the society. According to the company’s exchange filing, the company announced the issuance of 5.65 lakh preferred shares at an issue price of Rs 700 each totaling Rs 39.55 crore including Ashish Kacholia.

Price as of Nov 15, 2022 10:39Click on company names for their live prices.

These stocks from the FCMG pack bleed the most

Price as of Nov 15, 2022 10:26Click on company names for their live prices.

Shares of NDTV in Tuesday’s trading session hit a 5% higher home run at Rs 383.05 after Adani Group secured regulatory approval from SEBI for an additional 26% stake in New Delhi Television Limited . Vishvapradhan Commercial Private Limited (VCPL) together with AMG Media Networks Limited (AMNL) and Adani Enterprises are making an open offer at a price of Rs 294 per share to acquire up to 26% stake in NDTV.

Price as of Nov 15, 2022 10:22Click on company names for their live prices.

Aurobindo in focus! USFDA classifies Aurobindo’s Unit XI as Voluntary Action Indicated (VAI)

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Rupee slides after positive open on corporate dollar demand

The Indian rupee was unable to maintain its slight opening rise against the dollar on Tuesday, due to the likely interest of importers to cover their debts, traders said. The rupee was trading at 81.44 per US dollar at 0442 GMT, down from 81.26 in the previous session. The local had managed to rally as high as 81.14 in opening trades.

Price action was similar to Monday but in a tighter range. On Monday, the rupee climbed to near 80.50, before quickly falling back below 81. Again, there is very good demand for dollars from private banks and foreign banks, probably linked to their client companies, said a cash trader.

Fusion Micro Finance debuts muted, listings at 2% off

Fusion Micro Finance made its muted debut on Dalal Street as the company listed at Rs 360.50 on Tuesday, a 2% discount to its issue price of Rs 368 on BSE. The young microfinance player made its debut with a 2% discount to Rs 359.50 compared to the issue price given on the National Stock Exchange (NSE). Prior to its listing on Dalal Street, shares of Fusion Microfinance were trading at a discount of Rs 5 in the gray market.

Aptech signs a multi-year MoU with an education body under the Ministry of Education to conduct computer-based testing in India.

Price as of Nov 15, 2022 09:44Click on company names for their live prices.

Citigroup downgraded NMDC to sell with a target price of Rs 100. The downgrade was largely due to domestic ore pricing issues. NMDC is trading at 4x 1 year ahead, EV/EBITDA on consensus – this is in line with global peers. The global investment bank said it was struggling to find upside triggers.

Price as of Nov 15, 2022 09:42Click on company names for their live prices.

The strongest tailwind for equity markets globally is the spike in US inflation and the possibility of a slower pace of rate hikes. In line with this trend, CPI inflation in India also declined from 7.4% in September to 6.7% in October. Crude’s decline to $92 is another positive. All of this may take the Nifty to a new all-time high, but in typical market specs it may not happen when the consensus expects it to happen. A healthy trend in the market right now is the slow accumulation of high quality large cap stocks. Sustained purchases by FII support this trend. Some profit reservations can be seen in the mid and small caps which have performed well.

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Opening Movers

Price as of Nov 15, 2022 09:23Click on company names for their live prices.

Opening bell: Sensex wins 130 points, Nifty above 18,350 points; Apollo Tires jumps 5%, Uflex drops 4%

Pre-open session: Sensex loses more than 100 points; Clever below 18,310

Asian stocks mixed as oil tumbles on China COVID outlook

Asian stock markets were mixed on Tuesday and oil was weaker as investors sought to digest the economic implications of China’s COVID policy adjustments and a bailout for the country’s struggling real estate sector.

Quarterly results today

13 companies are to publish their results for the quarter ended in September.

SGX Nifty reports positive start

Nifty futures on the Singapore Stock Exchange traded up 36 points, or 0.20%, at 18,413.50, signaling Dalal Street was heading for a positive start on Tuesday.

Tech View: Clever charts signal indecision on Street

The Nifty stock index formed a bearish candle on the daily charts today, indicating indecision between bulls and bears. The index has formed higher highs – higher lows since the last two sessions.

Tokyo Nikkei index opens flat

Tokyo’s key Nikkei index opened flat on Tuesday after Wall Street pulled back following last week’s rallies that were fueled by hopes the Federal Reserve would ease its interest rate hikes. trade after drifting between positive and negative territory, while the broader Topix index rose 0.23%, or 4.52 points, to 1,961.42.

Wall Street ends lower as investors assess Fed policy trajectory

Wall Street’s major indexes ended lower on Monday, with real estate and discretionary sectors leading large declines, as investors digested comments from US Federal Reserve officials on interest rate hike plans and looked for the next catalysts after last week’s big stock market rally.

Oil prices slide on OPEC demand cut forecast, China COVID cases

Oil prices extended early Asian trade losses on Tuesday after OPEC cut its 2022 global demand forecast, while rising COVID-19 cases in China clouded the consumer outlook of fuel in the world’s leading crude oil importer.

Rupee drops 50 paise to 81.28 on dollar demand

The rupee depreciated 50 paise to close at 81.28 against the US currency on Monday on strong demand for dollars from businesses and oil companies and a firm dollar in overseas markets.

Sensex, nice on Monday

The 30-stock Sensex ended down 171 points at 61,624, while its broader counterpart Nifty 50 came in at 18,329.