Stock market highlights: Sensex closes above 61,300; Nifty ends above 18,300; HDFC Bank top gainer, HCL Tech dips ahead of Q2 results

Thank you, readers! That's all from CNBC-TV18.com's live market coverage on October 14. Happy Navratri and Vijay Dashmi

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TCS’ downward trend continues following a weak set of Q2 earnings. Wipro up 5%, Mindtree 8% and Infosys 0.3% after a better-than-expected Q2

MARKET THIS WEEK: Sensex, Nifty post biggest weekly gains in more than a month

Nifty Bank rises more than 4% this week, biggest weekly gains in 5 months

Midcap Index up for 8th straight week, longest weekly gaining streak since 2010

Except IT, all frontline indices post gains this week, auto top gaining index

39 Nifty stocks give positive returns this week, Tata Motors, Adani Ports, ITC top gainers

TCS, HCL Tech, HDFC Life, Coal India & ONGC top Nifty losers this week

Tata Power, Union Bank, IEX, BHEL, Indian Hotels top Midcap gainers this week

Metropolis, Bandhan Bank, Voda Idea, Biocon, USL top Midcap losers

MARKET AT CLOSE: Key Points

Another day, another record close for the market

Market posts record close in all the four sessions this week

Sensex rises 580 points to 61,317 & Nifty 177 points to 18,339

Nifty Bank gains 705 points to 39,341 & Midcap index 209 points to 32,504

Banks lead the market higher in Friday’s session, HDFC Bank top contributor

14 Nifty stocks including Wipro, Grasim, HDFC Bank hit 52-week highs

Tata Group stocks see profit booking following major gains on Thursday

HDFC Bank up 3% ahead of its earnings on Saturday, profit seen up 17% YoY

Coal India top Nifty loser followed by Tata Motors, Eicher & HCL Tech

TCS’ downward trend continues following a weak set of Q2 earnings

Wipro up 5%, Mindtree 8% & Infosys 0.3% after a better-than-expected Q2

IRCTC top midcap gainer, stock gains 11% to close at a record high

Avenue Supermart gains more than 4% ahead of its q2 earnings on Saturday

South-based Cement cos rise on a price hike expectation, India Cements up 8%

Strong earnings by Mindtree lead to a gain in other midcaps IT stocks too

Persistent, Coforge, Mphasis & L&T Tech close Friday session with healthy gains

Market breadth neutral with the advance-decline ratio at 1:1

BSE cos gain a market cap of over Rs 4 lakh crore this week and Rs 11 lakh crore in October

Closing Bell: Sensex closes above 61,300; Nifty ends above 18,300; HDFC Bank top gainer, HCL Tech dips ahead of Q2 results

Benchmark indices ended Thursday's trade with sharp gains led by HDFC Bank, ICICI Bank, ITC. The Sensex ended 569 points higher at 61,306, rising 0.94 percent. The Nifty50 jumped 177 points, or 0.97 percent, to settle at 18,338.5. Adani Ports, Wipro, Grasim, ITC and HDFC Bank were top Nifty gainers, rising between 2-7 percent. Coal India, Tata Motors, Eicher Motors, TCS and HCL Tech dipped between 1 and 4 percent. HCL Tech shed over a percent ahead of its Q2 results post market hours. HDFC Bank gained nearly 3 percent ahead of its second quarter results on Saturday.

IT upcycle has just begun; Mindtree, L&T Infotech to do much better, says Edelweiss Securities' Sandip Agarwal
IT stocks will do much better from here and the tech upcycle will last 4-5 years, said Edelweiss Securities’ Sandip Agarwal on Thursday, while adding that we are only 10-20 percent into the IT upcycle. “The broad call is that this cycle is an upcycle and it’s a very big upcycle,” Agarwal told CNBC-TV18. IT gauge, Nifty IT index has returned over 50 percent in the last one year, while the year-to-date (YTD) return is above 30 percent. He also said that Mindtree and L&T Infotech will deliver strong returns. “I believe Mindtree and Larsen & Toubro Infotech will deliver the same shareholder return as what Infosys and TCS have,” Agarwal added.

Markets this week: Nifty up 2.5% this week
-Another day and week of fresh highs
-Nifty up 1% today, up 2.5 percent this week
-Midcap index up 3.4 percent this week
-All engines of markets firing
-IT leads, Banks follow in the second half
-Tata Motors up 30 percent this week
-Momentum stocks like IRCTC surge
-Market being driven by retail inflows

Fresh cement price hikes likely as production up 44% in past 5 months
Over the next weekend, cement companies are likely to raise prices in South India by nearly Rs 25 per bag, people in the know have told CNBC-TV18. It is noteworthy that in the last couple of weeks prices have been increased by anything between Rs 30 to Rs 50, depending on the region,  grade of cement as well and who is the producer. In other words, this is an ongoing process.

Coal India shares down 3%; Here's why

As Tata Motors shares rally, its DVRs may be a good bet, say analysts
With Tata Motors’ shares on a tear of late, analysts tracking the company say its Differential Voting Rights (DVR) shares could be a good buy at current levels. DVRs have reduced voting rights compared to ordinary shares and hence trade at a discount to the ordinary shares. To make up for reduced voting rights, holders of DVRs get an additional dividend over on ordinary shares. Tata Motors DVRs are presently trading at a 49 percent to ordinary shares, and this discount could narrow, say market watchers.

Shares of Avenue Supermarts were up 4 percent and those of IRCTC jumped more than 11 percent

Punit Goenka breaks his silence in the Zee-Invesco matter, he says, he did not agree to Invesco’s proposal as shareholder value was getting compromised

Century Textiles & Industries' stock was up 1.2% on BSE 

IT upcycle has just begun; Mindtree, L&T Infotech to do much better, says Edelweiss Securities' Sandip Agarwal

IT stocks will do much better from here and the tech upcycle will last 4-5 years, said Edelweiss Securities’ Sandip Agarwal on Thursday, while adding that we are only 10-20 percent into the IT upcycle.

Click here to read further

HDFC Bank is expected to report a growth of 17% in profit and 12% in NII YoY. Net interest margin is seen improving on a sequential basis

HDFC Bank shares were up 2.5% on BSE

Ashish Kacholia sold his entire stake in Apollo Pipes during July-September

Marquee investor Ashish Kacholia sold his entire 3.58 percent stake in Apollo Pipes during the September quarter.

Shares of the company were up 1.6 percent on the BSE.

Market Watch: Prakash Gaba, prakashgaba.com

- Buy Dr Reddy’s Laboratories with a stop loss of Rs 4,950 and a target of Rs 5,050-5,100

- Buy Info Edge with a stop loss of Rs 6,900 and a target of Rs 7,300-7,500

Market Watch: Shrikant Chouhan, Kotak Securities

• Buy ITC with a stop loss of Rs 245 and a target of Rs 280-285
• Buy Tech Mahindra with a stop loss of Rs 1,380 with a target of Rs 1,550-1,600

Adani Group takes over operation of Thiruvananthapuram International Airport

The Adani Group has taken over the operation, management and development of the international airport in Thiruvananthapuram, saying it is now a Gateway to Goodness. Announcing the formal takeover of the airport, the business giant said in a tweet that it was privileged to serve and welcome passengers to God's Own Country. "Connecting lives with cherished travel experiences, we are pleased to share that #ThiruvananthapuramAirport is now a #GatewayToGoodness. We are privileged to serve and welcome passengers to God's Own Country filled with lush greenery, beautiful beaches, and exquisite cuisine", the group said in the tweet, both in English and Malayalam, past midnight on Thursday.

Passenger vehicle wholesales in India down 41% in September: SIAM

Passenger vehicle (PV) wholesales in India decreased by 41 percent in September, said auto industry body Society of Indian Automobile Manufacturers (SIAM) on Thursday. While Hero Moto’s production was down 32 percent, Royal Enfield was down 62 percent year-on-year, SIAM said. Bajaj Auto production was down 5 percent and TVS production was down by 1.4 percent. SIAM president said that despite revival, companies curtailed production plans as chip shortage remains a major concern.

Tata Group betting on new age businesses; looking to consolidate aviation verticals: Bhaskar Bhat

Tata Group has been in the thick of news in recent times. Right from bringing the Maharaja (Air India) back home to the EV deal with TPG. Subsequently. Tata Motors and Tata Power are firing away on Dalal Street and on Wednesday, the stocks saw a huge move. Almost all the listed Tata entities were up, and all together, they added Rs 70,000 crore in market capitalization in just a day. 

Bhaskar Bhat, Director, Tata Sons discussed all that's ticking at Tata Sons in an interview with CNBC-TV18.

Read here the full interview

India to get foreign inflows on preferred basis; startup economy big draw: Prime Securities

The Indian markets currently are in Superman mode -- up, up and away. The Nifty50 has crossed 18,000 comfortably and has raised 2.4 percent in the last five trading sessions. N Jayakumar, Managing Director at Prime Securities in an interview with CNBC-TV18 credited the government's policy initiatives partly for the steep rise. He also added that India will continue to get money on a preferred basis and more importantly the retail Indian investor whose reallocation of investments and savings means that the equity markets are more preferred than they ever were.

Click here for more

Prospects for Tata Group stocks improving; stay with large-caps, says Avendus’ Andrew Holland

Andrew Holland, CEO of Avendus Capital Alternate Strategies, said the prospects for Tata Group stocks are improving. Holland spoke about how Tata Group, having won over Air India, can monetise its hotel group.

“Now, if you think about that then one of the biggest beneficiaries will happen, apart from people starting to fly Air India, I am sure the Tata Group will think about how to monetize the hotel group, not just in India, but some of the places overseas as well. I am sure they can offer some great deals like if you fly Air India, you get this hotel rate, and so forth and so on. So, I could imagine that would be a catalyst for the hotel industry, particularly the Taj Hotels,” said Holland in an interview with CNBC-TV18.

Read more here

Rupee gains 12 paise to 75.25 against US dollar in early trade

The Indian rupee appreciated 12 paise to 75.25 against the US dollar in opening trade on Thursday, buoyed by heavy buying in domestic equities and fresh foreign fund inflows. Weakness of the American currency in the overseas market also helped the domestic unit, forex dealers said. However, higher crude prices restrained the rupee to gain momentum, they added. At the interbank foreign exchange, the domestic unit opened strong at 75.27 against the US dollar, then gained further ground to 75.25, registering a rise of 12 paise against the previous close.

Escorts appoints Sanjeev Bajaj as Head of Construction Equipment Business effective Dec 1

Wipro shares rise 5% on company's upbeat growth outlook for FY22

Shares of Wipro Ltd surged almost five percent during the opening trade on Thursday on the BSE after the IT major reported a 17 percent jump in consolidated net profit to Rs 2,930 crore for the second quarter ended September 2021. In the corresponding quarter last year, the Bengaluru-headquartered company posted a net profit of Rs 2,465.70 crore.

September WPI inflation comes in at % Vs CNBC-TV18 poll of 11.4%