homemarket Newsstocks NewsStock Market Highlights: Sensex ends 460 points higher, Nifty50 at 18,477 as market extends gains to fresh peaks

Stock Market Highlights: Sensex ends 460 points higher, Nifty50 at 18,477 as market extends gains to fresh peaks

Stock Market Highlights: Sensex ends 460 points higher, Nifty50 at 18,477 as market extends gains to fresh peaks
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Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 extended gains to a sixth straight day to scale new record highs on Monday, led by financial, IT, metal and oil & gas shares. Heavyweights such as Infosys, ICICI Bank, ITC and TCS were in high demand, aiding investors' morale.  Broader markets supported the positive sentiment in the market, with the midcap and smallcap indices closing with gains of 1.2 percent and 0.7 percent respectively.

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Oct 18, 2021 4:47 PM

Positive on UltraTech: Hemang Jani 

Hemang Jani of Motilal Oswal Financial Services said people will be very comfortable owning names like UltraTech now unless they see some major disappointment from the management commentary. 

"The numbers look a bit lower than market expectations. But I think in the current environment, people would focus more on the management commentary given the fact that we are seeing good traction in real estate and in infrastructure. There would be some positive reaction that the market will be expecting from the management. Of course we have to also bear in mind that the input cost would have gone up quite sharply in the last couple of months and correspondingly, there have been price hikes," he said. 

Oct 18, 2021 4:47 PM

Positive on Godrej Consumer, HUL, Marico: Hemang Jani 

Hemang Jani of Motilal Oswal Financial Services has a positive view on three stocks from the FMCG space: Godrej Consumer, HUL and Marico.

"We feel that as far as the FMCG pack is concerned, on an overall basis, this quarter too would be quite good. In terms of volume growth, there might be a little bit of margin pressure in certain pockets. But overall, the way the upcycle is, there is definitely going to be good positive traction that one can really expect with names like Godrej Consumer Products, Hindustan Unilever and Marico," he said ini an interview to CNBC-TV18. 

Oct 18, 2021 4:44 PM

A lot of momentum in IRCTC shares: Capitalmind's Deepak Shenoy 

Deepak Shenoy, Founder of Capitalmind, told CNBC-TV18 he sees a lot of momentum in IRCTC shares from a price perspective. "As a disclosure, I hold IRCTC... The business itself is going to take some time to be able to show that momentum, I think. While we are coming out of the unlock process, there is a lot of interest in bookings, and there are lots of longer-term factors in its favour. The dedicated freight corridor will allow the introduction of more passenger trains and therefore more business for IRCTC," he said.

He also believes IRCTC is almost literally a platform company "in the sense it owns access to a lot of platforms, and controls the right to advertise, and to sell and a lot of things around that part of the picture where they can monetise substantially more... They are one of the largest e-commerce companies in India, although they don't technically qualify as one. But they could do a lot more with their ecommerce capability and the retention and the kind of attention they get from the customers. There are a lot of fundamental factors but the price has run quite a bit. So I think one has to be a little more careful here. I expect good future for it financially, but the price can't be explained at the current juncture from any meaningful price-to-earnings perspective."

"If you are invested, I really wouldn't say exit at this point purely on valuation. You should exit on fundamentals, or if you need money, or if you find a better opportunity, but not purely because of valuations,” he said.

Oct 18, 2021 4:39 PM

Rupee edges lower to end at 75.34 against dollar

The rupee ended at 75.34 against the US dollar as againts Thursday’s close of 75.26. The market remained shut on Friday for a holiday.

Anindya Banerjee, DVP, Currency and Interest Rate Derivatives at Kotak Securities, said the USD-INR pair will find strong support near the 75 mark as long as oil prices and yields continue to climb higher, with resistance near 76. The bias remains of a slow upward trend, he added.

Stock Market Highlights: Sensex ends 460 points higher, Nifty50 at 18,477 as market extends gains to fresh peaks
Oct 18, 2021 4:31 PM

Earnings to remain in focus, time to add quality stocks on dips: Religare Broking's Ajit Mishra  

Ajit Mishra, VP-Research at Religare Broking, said corporate earnings will remain in focus for now in absence of any major event. "We have a long list of index majors announcing their results this week. And participants will be closely eyeing the management commentaries for the future growth outlook. Apart from this, global cues would also be on investors' radar. We reiterate our bullish view on the market and suggest using intermediate dips to add quality stocks," he said. 

Oct 18, 2021 4:30 PM

Market At Close | Sensex, Nifty50 extend gains to sixth day in a row

Here are some highlights:

--NIfty Bank rises 344 points to 39,685; midcap index up 381 points at 32,885
--All-time highs: Sensex hits 61,963, Nifty 18,543 during the session
--Nifty Metal, Nifty PSU Bank gain the most amongst NSE indices; Nifty Pharma top loser 
--Reliance Industries ends 0.3 percent higher, off all-time high of Rs 2,745 
--Metal shares rise on increase in global commodity prices; Hindalco up 5 percent, Vedanta, Nalco 13 percent each
--Tata Power continues to rise on prospect of MSCI inclusion
--PSU banks see another day of healthy gains; Union Bank up 9 percent, PNB 8 percent
--IRCTC record run continues, stock rises 8 percent to close at record high
--Auto stocks under pressure on muted festive demand; M&M top loser
--HCL Tech slips over 2 percent after Q2 earnings fall short of expectations
--Most other IT stocks see buying; Infosys, Tech Mahindra rise 4 percent each
--HDFC Bank sees profit booking after better-than-expected Q2 earnings; stock down 1 percent
--ICICI Pru gains 3 percent; HUL, Nestle close with minor gains ahead of earnings on Tuesday
--Market breadth neutral; advance-decline ratio at 1:1

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Oct 18, 2021 4:12 PM

Market At Close | Hindalco, Infosys, Tech Mahindra top gainers; HCL Tech, M&M, Asian Paints top laggards

Oct 18, 2021 3:58 PM

Closing Bell | Sensex ends 460 points hgiher at record 61,766, Nifty at record 18,477 

The Sensex index rose 459.6 points or 0.8 percent to end at 61,765.6 and the broader Nifty50 benchmark added 138.5 points (0.8 percent) to settle at 18,477.1 -- both record closing highs. 

Oct 18, 2021 3:42 PM

D-Street Chatter | Here's why stocks like IndusInd Bank, Bajaj Finance, HBL Power & Dhani Services were abuzz in trade today

Oct 18, 2021 3:26 PM

PNB Housing Finance shares locked in 5% lower circuit 

PNB Housing Finance shares were locked in the lower circuit at five percent at Rs 607.1 apiece on BSE in late afternoon deals. 

Oct 18, 2021 3:21 PM

PNB Housing Finance shares were locked in their 5 percent lower circuit limit at Rs 607.10 on the BSE 

Oct 18, 2021 3:18 PM

Asian Energy Services bags order worth Rs 236 crore

Asian Energy Services Ltd has been awarded a contract worth Rs 236 crore for Coal Handling Infrastructure by Heavy Engineering Corporation Ltd at Gevra, Chhattisgarh.

Oct 18, 2021 3:12 PM

Nomura India Biz Resumption Index at an all-time high for week-ended Oct 17

Oct 18, 2021 3:03 PM
Technical stock picks: ICICI Prudential, RBL Bank, IndiGo, ABB among analysts' top short-term bets now
Dalal Street has broken a series of records with the bulls showing no sign of tiredness. All eyes are now on the unprecedented 62,000 mark on the Sensex index. Can the party go on, and are there any…
Stock Market Highlights: Sensex ends 460 points higher, Nifty50 at 18,477 as market extends gains to fresh peaks
Oct 18, 2021 2:57 PM

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