Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 failed to hold intra-day gains and closed deep in red on Friday.
S&P BSE Sensex ended 677 points or 1.13% lower at 59,306 while the NSE Nifty 50 index closed 185 points or 1.04% in red at 17,671.
The initial share-sale of Sapphire Foods India Ltd, which operates KFC and Pizza Hut outlets, will open for public subscription on November 9.
India share market bulls may take a breather for the next three to six months as expensive valuations limit returns on Dalal Street, according to Morgan Stanley.
The roller coaster ride led to a sharp rise in option IVs i.e the value of OTM options, therefore, option writers and arbitragers are looking at it as a golden opportunity as uncertainty is out of the window for time being.
Nifty next 50 was up in the green, gaining 1%, while Nifty 100, Nifty 200, and Nifty 500 were down in red.
For the July-September quarter , Canara Bank had posted a 200 per cent rise in net profit at Rs 1,333 crore on robust growth in non-interest income including revenue from trading and recoveries.
After the Ministry of Railways has withdrawn the decision to share the revenue earned from convenience fees collected by IRCTC in the ratio of 50:50 from November 1, the share of IRCTC bounced back from the previous lows.
There is also going to be one long weekend in states where banks are closed for Guru Nanak’s birthday on 19 November 2021.
Among value toppers, IRCTC was top of the list as shares worth more than Rs 2,360 crore exchanged hands on NSE as the stock plummeted 20%.
This is proving to be strong resistance as the previous swing high was also around 48500 in the month of July.
Given the company’s market leadership status, strong topline growth, robust outlook, positive sentiment due to marquee investors and promoter group, investors who wish to take exposure to an under-penetrated online cosmetics e-tailing business could consider investing in this issue, SEBI-registered investment advisor INDmoney said in a report.
In our view, the reappointment of Governor Das, a former Economic Affairs Secretary and a former member of the finance commission is a sign ofcontinued trust from the government.
IRCTC share price plummeted 15% on Friday morning to hit the lower circuit as the investors reacted to the government’s revenue sharing order that may cut the company’s earnings by as much as 36%.
17600 is the next level of support and if we can hold on to that, there is every possibility that we take a U-turn from here and resume the upside trajectory.
Gold has continued to trade in a broad range near $1800/oz as support from weaker US dollar, global growth worries and rising inflation concerns are countered by relative stability in equity markets.
The sell-off in domestic equities could keep Rupee on its toes, but flows on account of IPOs and corporate borrowing could restrict the depreciating move.
India’s gold demand has seen a 47 per cent year-on-year jump in the July-September quarter to 139.1 tonnes, following stround in economic activity and recovering consumer demand, the World Gold Council said in a report.
ECB’s Lagarde says inflation is expected to rise further and expects inflation to ease in course of 2022 which ramp up the possibility of bullish momentum to continue in precious metals.
The government asking IRCTC to share a 50% convenience fee with the Railway Ministry is yet another instance that should warn investors of undue optimism while investing in PSU stocks.
As per a stock exchange notification, marquee investors like Fidelity, HSBC Global, Pinebridge, Birla Mutual Fund, Motilal Oswal, TATA Mutual Fund, SBI Life, Invesco, BNP Paribas and Societe Generale have been allotted shares among others.
On the higher side, 18000 – 18100 would now be seen as immediate hurdles and any bounce back towards it, should be used to lighten up longs.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were increased by oil marketing companies for the second consecutive day on Thursday.
The overall structure shows the short term range for Nifty has shifted lower & it is now expected to trade in the range of 17650-18220 during the next few sessions.