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Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
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Summary

Stock Market LIVE Updates: Indian equity benchmarks BSE Sensex and NSE Nifty50 held on to much of their intraday gains in a choppy session on Friday, as Dalal Street entered a new monthly derivative (futures & options) series. Globally, caution persisted among investors about the impact of steep hikes in interest rates on economic growth, after the ECB announced a 75 bps increase in the benchmark rate along expected lines and a quarterly GDP reading from the world's largest economy came in better than Street expectations. Investors await more of financial results from India Inc for domestic cues, with Maruti Suzuki, Vedanta, Dr Reddy's and Tata Power due to post their earnings later in the day. 

Live Updates

Thank you, readers! That's all from CNBCTV18.com's live market coverage on October 28, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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Oct 28, 2022 4:32 PM

Larger banks to again come into focus when NIMs start to contract: ICICI Securities PMS's Amit Gupta

Amit Gupta, Vice President and Fund Manager at ICICI Securities PMS, is of the view that lower margins of smaller banks always lead to the possibility of the sector's valuations getting challenged. "Currently, the positive with the banking system is they are sitting at the lower NPAs," he tells CNBC-TV18. 

Oct 28, 2022 4:32 PM

Rupee ends barely stronger at 82.47 vs dollar

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 3:58 PM

Market At Close | Sensex and Nifty extend gains to second straight day

Here are some highlights: 

--Financial stocks see profit booking 

--Maruti Suzuki hits 52-week high after better-than-expected results

--Reliance contributors 55 points to rise in Nifty

--L&T continues to rise ahead of results 

--PSU basket strengthens — NTPC, ONGC and Coal India top gainers

--Steel stocks see profit booking — Tata Steel and Hindalco slide two percent

--Sun Pharma falls two percent after US unit Taro Pharma's weak earnings

--Bandhan Bank falls two percent after lender reports mixed set of results

--SBI Card and Tata Chemicals tumble 5-6 percent after earnings miss Street estimates

--Balrampur, SAIL, Persistent, Coforge, Crompton and Ipca top midcap losers

--REC, PFC, Cummins, Syngene, Max Fin and Petronet LNG top midcap gainers

--Market breadth favours the bears — advance-decline ratio at 2:3

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 3:54 PM

Maruti Suzuki stock not that cheap anymore even at pre-COVID EPS: Neeraj Deewan

Neeraj Deewan, Director at Quantum Securities, tells CNBC-TV18 that Maruti Suzuki shares are not cheap even at their pre-COVID EPS of Rs 250-260.

"The risk reward for people who are buying (the stock) now may not be that great. To make some money in automobile sector, look for auto ancillaries or look at some other stock where risk reward is better than Maruti Suzuki,” he adds. 

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 3:49 PM

Maruti Suzuki shares extend gains after results beat Street estimates

Maruti Suzuki says its raw material costs as a percentage of sales are down 390 bps at 76.5 percent compared with the year-ago period. 

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 3:30 PM

Maruti Suzuki quarterly net profit grows over four times to Rs 2,061.5 crore

Maruti Suzuki — India's largest carmaker — reports a standalone net profit of Rs 2,061.5 crore for the July-September period, exceeding Street estimates. The auto major's revenue comes in at Rs 29,931 crore, according to a regulatory filing.

Analysts in a CNBC-TV18 poll had expected Maruti's net profit at Rs 1,847 crore and revenue at Rs 29,590 crore. 

Maruti Suzuki's pending customer orders stand at about 4.12 lakh units, according to a company statement. Out of these, 1.30 lakh pre-bookings are for recently launched models. 

Oct 28, 2022 3:21 PM

South Indian Bank gets RBI nod for re-appointment of Salim Gangadharan as part-time non-exec chairman for 1 year

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 3:10 PM

Holiday season sales a key thing to watch out for: Gokaldas Exports' Sivaramkrishnan Ganapathi

Sivaramkrishnan Ganapathi, MD at Gokaldas Exports, says in an interaction with CNBC-TV18 that if the holiday season sales do not turn out as well, people will slow down buying sentimentally. "We just hope that this holiday season sales do well in which case we should start seeing an uptick from the quarter ahead onwards," he says. 

He also says demand in the fashion segment remains reasonably resilient. “Excess inventory was more in knits and other commodity products; we make very specialised woven products... We had a good fortune of being in the right product segment and we continue to focus on that.”

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 2:13 PM

Buy Voltas, UPL: Hemen Kapadia 

Here are three recommendations from Hemen Kapadia of KR Choksey Securities:

-- Buy Voltas for a target of Rs 905 with a stop loss at Rs 860 

-- Buy UPL for a target of Rs 750 with a stop loss at Rs 690 

-- Sell Federal Bank for a target of Rs 124 with a stop loss at Rs 136 

Oct 28, 2022 1:55 PM

This is the first time RBI will be made to explain its action to government

Since the monetary policy framework came into effect in 2016, this is the first time that the RBI will have to explain its actions to the government.

RBI Governor Shaktikanta Das has already said that the report is a privileged communication between the central bank and the government, and may not be made public. (Read more on what to expect on November 3)

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 1:46 PM

RBI must explain to centre why consumer inflation target missed for 3 back-to-back quarters

Sources tell CNBC-TV18 the RBI's MPC will meet on November 3 purely to discuss its response on inflation to the government. CNBC-TV18's Latha Venkatesh has the details: 

Oct 28, 2022 1:25 PM

Sell HUL, Tech Mahindra: Manish Hathiramani

Manish Hathiramani, Proprietary Trader and Technical Analyst at Deen Dayal Investments, shares two trading calls: 

-- Sell Hindustan Unilever for a target of Rs 2,475 with a stop loss at Rs 2,600 

-- Sell Tech Mahindra for a target of Rs 1,030 with a stop loss at Rs 1,075 

Oct 28, 2022 1:18 PM

Vardhman Textiles quarterly net profit falls 57%

The Vardhman Textiles stock slips deep into the red after the earnings announcement. The company's revenue increases 3.5 percent to Rs 2,470 crore for the July-September period compared with the corresponding period a year ago, according to a regulatory filing. 

Its EBITDA declines 47 percent at Rs 358 crore, and margin nearly halves to 14.5 percent from 28.4 percent in the year-ago period.

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 12:39 PM

RBI will not withdraw its official from RBL Bank's board: Sources to CNBC-TV18

Recent reports had suggested that the central bank was likely to withdraw Yogesh Dayal from the private lender's board, which according to sources is not true.

Stock Market Highlights: Sensex ends 203 pts higher and Nifty crosses 17,750 led by oil & gas and auto shares
Oct 28, 2022 12:20 PM