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Markets slump, oil prices rise on West Asia turmoil; Sensex, Nifty drop 0.7%
Indian equity markets dropped, crude oil prices surged, and the rupee closed at its record low again on Monday as the conflict between Israeli security forces and Hamas militants threatened to escalate further with Jerusalem vowing “mighty vengeance” after suffering a surprise attack on Saturday night. The ongoing heavy fighting has added another layer of uncertainty for risk assets, which have already been reeling under pressure due to rising US bond yields and a stronger dollar. The Sensex declined 483 points, or 0.7 per cent, to end the session at 65,512, while the Nifty50 index settled at 19,512 after sliding 141 points, or 0.7 per cent. The broader markets witnessed a deeper selloff. The Nifty Smallcap100 index dropped nearly 2 per cent – the worst fall since September 12, when it had slumped over 4 per cent. The Nifty Midcap100, on the other hand, slipped 1.3 per cent. Foreign portfolio investors sold domestic stocks worth nearly Rs 1,000 crore on Monday, while domestic institutions were net buyers to the tune of Rs 2,661 crore.
Rupee falls 2 paise to settle at an all-time low of Rs 83.27 per US dollar
The Indian rupee fell 2 paise to settle at an all-time closing low of Rs 83.27 per US dollar on Monday, tracking the rise in the dollar index, according to dealers. The rupee had settled at the same level on September 18. “On Monday, the rupee tracked the dollar index, but it was moving in a narrow range because the US and Japan markets were closed,” a dealer at a state-owned bank said. “The rates might change because of war, but that will be known on Tuesday,” he added. The US market was closed on Monday on account of Columbus Day. The dollar index, which measures the strength of the greenback against a basket of six major currencies, rose to 106.45 as the dollar surged on the safe-haven demand due to geopolitical tensions in West Asia. Market sentiment turned highly delicate following intense clashes between Israeli forces and gunmen belonging to the Palestinian group Hamas over the weekend. These clashes occurred shortly after militants launched a devastating attack on Israel, marking the deadliest day of violence the country had witnessed in half a century.
Israel-Hamas conflict: Rising energy costs likely to weigh on India Inc
India Inc is bracing for a stormy time ahead as rising energy costs are expected to increase the expenses for all companies and stoke inflation after the Hamas attack on Israel sent jitters through worldwide markets, including oil prices, on Monday. Barring a few companies like Adani Ports, which acquired Haifa Ports in January this year for $1.2 billion, and Sun Pharmaceuticals, which owns a stake in Taro Pharmaceuticals Industries, not many Indian companies have direct exposure to Israel. An Adani Ports & SEZ (APSEZ) statement said the company was closely monitoring the situation at its port, which is situated in the North, far away from the conflict zone. The contribution of Haifa Port to the APSEZ’s total cargo volume is relatively small at 3 per cent. “For this financial year, we have guided for Haifa cargo volumes in the range of 10-12 million tonnes (mt) and APSEZ’s total cargo volume guidance of 370-390 mt. In the initial six months, the APSEZ’s total cargo volume was 203 mt, of which the Haifa share was 6 mt. We remain confident in the APSEZ’s business performance,” the spokesperson said. APSEZ stock closed 4.8 per cent down, while the BSE Sensex was down 0.73 per cent.
Commodities Play
Gold – Rs 57177/10gm, Silver – Rs 68272/kg, Brcrude – Rs 7302/barrel, Natural Gas – Rs 277.9/mmBtu, Copper – Rs 710.6/kg.
Corporate News
Vodafone Idea files plea in Supreme Court seeking correction of AGR dues.
Maruti cranks up capital expenditure with Rs 1.25 trillion 8-year plan.
Star Health Insurance introduces surrogacy cover and oocyte donor cover.
Gift Nifty indicates flat start to Indian markets trading at 19609 levels up by 0.04% or 8.5 points.
Markets slump, oil prices rise on West Asia turmoil; Sensex, Nifty drop 0.7%
Indian equity markets dropped, crude oil prices surged, and the rupee closed at its record low again on Monday as the conflict between Israeli security forces and Hamas militants threatened to escalate further with Jerusalem vowing “mighty vengeance” after suffering a surprise attack on Saturday night. The ongoing heavy fighting has added another layer of uncertainty for risk assets, which have already been reeling under pressure due to rising US bond yields and a stronger dollar. The Sensex declined 483 points, or 0.7 per cent, to end the session at 65,512, while the Nifty50 index settled at 19,512 after sliding 141 points, or 0.7 per cent. The broader markets witnessed a deeper selloff. The Nifty Smallcap100 index dropped nearly 2 per cent – the worst fall since September 12, when it had slumped over 4 per cent. The Nifty Midcap100, on the other hand, slipped 1.3 per cent. Foreign portfolio investors sold domestic stocks worth nearly Rs 1,000 crore on Monday, while domestic institutions were net buyers to the tune of Rs 2,661 crore.
Rupee falls 2 paise to settle at an all-time low of Rs 83.27 per US dollar
The Indian rupee fell 2 paise to settle at an all-time closing low of Rs 83.27 per US dollar on Monday, tracking the rise in the dollar index, according to dealers. The rupee had settled at the same level on September 18. “On Monday, the rupee tracked the dollar index, but it was moving in a narrow range because the US and Japan markets were closed,” a dealer at a state-owned bank said. “The rates might change because of war, but that will be known on Tuesday,” he added. The US market was closed on Monday on account of Columbus Day. The dollar index, which measures the strength of the greenback against a basket of six major currencies, rose to 106.45 as the dollar surged on the safe-haven demand due to geopolitical tensions in West Asia. Market sentiment turned highly delicate following intense clashes between Israeli forces and gunmen belonging to the Palestinian group Hamas over the weekend. These clashes occurred shortly after militants launched a devastating attack on Israel, marking the deadliest day of violence the country had witnessed in half a century.
Israel-Hamas conflict: Rising energy costs likely to weigh on India Inc
India Inc is bracing for a stormy time ahead as rising energy costs are expected to increase the expenses for all companies and stoke inflation after the Hamas attack on Israel sent jitters through worldwide markets, including oil prices, on Monday. Barring a few companies like Adani Ports, which acquired Haifa Ports in January this year for $1.2 billion, and Sun Pharmaceuticals, which owns a stake in Taro Pharmaceuticals Industries, not many Indian companies have direct exposure to Israel. An Adani Ports & SEZ (APSEZ) statement said the company was closely monitoring the situation at its port, which is situated in the North, far away from the conflict zone. The contribution of Haifa Port to the APSEZ’s total cargo volume is relatively small at 3 per cent. “For this financial year, we have guided for Haifa cargo volumes in the range of 10-12 million tonnes (mt) and APSEZ’s total cargo volume guidance of 370-390 mt. In the initial six months, the APSEZ’s total cargo volume was 203 mt, of which the Haifa share was 6 mt. We remain confident in the APSEZ’s business performance,” the spokesperson said. APSEZ stock closed 4.8 per cent down, while the BSE Sensex was down 0.73 per cent.
Commodities Play
Gold – Rs 57177/10gm, Silver – Rs 68272/kg, Brcrude – Rs 7302/barrel, Natural Gas – Rs 277.9/mmBtu, Copper – Rs 710.6/kg.
Corporate News
Vodafone Idea files plea in Supreme Court seeking correction of AGR dues.
Maruti cranks up capital expenditure with Rs 1.25 trillion 8-year plan.
Star Health Insurance introduces surrogacy cover and oocyte donor cover.
Gift Nifty indicates flat start to Indian markets trading at 19609 levels up by 0.04% or 8.5 points.
🇮🇳Profitable_Platform🇮🇳
BTSTT Trade 🎉✈️ L_Tfin call 135 @ 2.8 TGT 3.2-3.6-4++ Short term tgt 4.5-5++ SL @Known_To_All
CMP 3.6
1st 2nd target done 👍
Running profit of Rs 7100/- per lot..
💰💰💰💰💰🎉🎉🎉🎉🎉🎉✈️✈️✈️✈️
1st 2nd target done 👍
Running profit of Rs 7100/- per lot..
💰💰💰💰💰🎉🎉🎉🎉🎉🎉✈️✈️✈️✈️
Tomorrow market opening will be.?
Vote for self assessment.!
Vote for self assessment.!
Anonymous Poll
67%
Gap up ++++
33%
Gap down ----
0%
Flat ====
Good Morning🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏
☀️ MORNING UPDATES 🗞️
📗 LAST DAY'S SUMMARY 💯
The market bounced back sharply on October 10 after a day of correction due to geopolitical tensions between Israel and Palestine. The Nifty50 decisively climbed above last week's high on a closing basis and formed a long bullish candlestick pattern on the daily charts. Hence the strong closing above the 19,700-19,800 area in coming sessions can take the index towards the 20,000 mark, with immediate support at 19,600-19,500 levels and Monday's low of 19,333 can be bottom in near term .The BSE Sensex climbed 567 points to 66,079, while the Nifty50 jumped 178 points to 19,690, recouping the entire previous day's losses.
NIFTY (19,689.85)
The key support levels for the Bank Nifty are placed is placed at 19,600.40 followed by 19,550.30 . On the upside, key resistance levels are placed 19,750.40 & 19,800.70 up levels.
BANK NIFTY (44,360.15)
The key support levels for the Bank Nifty are placed is placed at 44,150.40 followed by 43,700.30 . On the upside, key resistance levels are placed 44,600.40 and 44,750.70 up levels.
STOCK RELATED NEWS FROM
LAST DAY
Bank of Baroda : The Reserve Bank of India has directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the ‘bob World' mobile application. This action is based on certain material supervisory concerns observed in the manner of onboarding their customers onto this mobile application.
Titan Company : The jewellery-watch-to-eyewear maker said the Board of Directors will be meeting on October 17, to consider issuance of non-convertible debentures on a private placement basis, within the permissible borrowing limits.
Union Bank of India : Sudarshana Bhat has been elevated to the post of Chief General Manager of Union Bank with effect from October 10. Sudarshana Bhat was the general manager of the bank. Earlier, Lal Singh was the Chief General Manager of Union Bank, who now has been appointed as Executive Director of Bank Of Baroda by the Central Government.
NCL Industries : The company hasannounced cement production for the quarter ended September FY24 at 6,59,300 metric tonnes (MT), up 9 percent over a year-ago period, and cement dispatches at 6,69,587 MT, up 11 percent YoY, while cement boards production grew by 12 percent YoY to 21,509 MT, and cement board dispatches increased 9 percent to 20,239 MT.
💰 FIIs & DIIs DEALS 💴
Foreign institutional investors (FII) offloaded shares worth Rs 1,005.49 crore, while domestic institutional investors (DII) purchased Rs 1,963.34 crore worth of stocks on October 10.
📗 LAST DAY'S SUMMARY 💯
The market bounced back sharply on October 10 after a day of correction due to geopolitical tensions between Israel and Palestine. The Nifty50 decisively climbed above last week's high on a closing basis and formed a long bullish candlestick pattern on the daily charts. Hence the strong closing above the 19,700-19,800 area in coming sessions can take the index towards the 20,000 mark, with immediate support at 19,600-19,500 levels and Monday's low of 19,333 can be bottom in near term .The BSE Sensex climbed 567 points to 66,079, while the Nifty50 jumped 178 points to 19,690, recouping the entire previous day's losses.
NIFTY (19,689.85)
The key support levels for the Bank Nifty are placed is placed at 19,600.40 followed by 19,550.30 . On the upside, key resistance levels are placed 19,750.40 & 19,800.70 up levels.
BANK NIFTY (44,360.15)
The key support levels for the Bank Nifty are placed is placed at 44,150.40 followed by 43,700.30 . On the upside, key resistance levels are placed 44,600.40 and 44,750.70 up levels.
STOCK RELATED NEWS FROM
LAST DAY
Bank of Baroda : The Reserve Bank of India has directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the ‘bob World' mobile application. This action is based on certain material supervisory concerns observed in the manner of onboarding their customers onto this mobile application.
Titan Company : The jewellery-watch-to-eyewear maker said the Board of Directors will be meeting on October 17, to consider issuance of non-convertible debentures on a private placement basis, within the permissible borrowing limits.
Union Bank of India : Sudarshana Bhat has been elevated to the post of Chief General Manager of Union Bank with effect from October 10. Sudarshana Bhat was the general manager of the bank. Earlier, Lal Singh was the Chief General Manager of Union Bank, who now has been appointed as Executive Director of Bank Of Baroda by the Central Government.
NCL Industries : The company hasannounced cement production for the quarter ended September FY24 at 6,59,300 metric tonnes (MT), up 9 percent over a year-ago period, and cement dispatches at 6,69,587 MT, up 11 percent YoY, while cement boards production grew by 12 percent YoY to 21,509 MT, and cement board dispatches increased 9 percent to 20,239 MT.
💰 FIIs & DIIs DEALS 💴
Foreign institutional investors (FII) offloaded shares worth Rs 1,005.49 crore, while domestic institutional investors (DII) purchased Rs 1,963.34 crore worth of stocks on October 10.
🇮🇳Profitable_Platform🇮🇳
BTSTT Trade 🎉✈️ L_Tfin call 135 @ 2.8 TGT 3.2-3.6-4++ Short term tgt 4.5-5++ SL @Known_To_All
CMP 4
All BTSTT targets done 👍
Running profit of Rs 10700/- per lot..
💰💰💰💰💰🎉🎉🎉🎉🎉🎉✈️✈️✈️✈️
All BTSTT targets done 👍
Running profit of Rs 10700/- per lot..
💰💰💰💰💰🎉🎉🎉🎉🎉🎉✈️✈️✈️✈️
Good Morning🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏
☀️ MORNING UPDATES 🗞️
📗 LAST DAY'S SUMMARY 💯
The market extended its northward journey for a second consecutive session with the Nifty50 climbing above 19,800, which is on expected lines, on October 11. Hence, if the index sustains the 19,750-19,800 area in the coming sessions, the march towards the 20,000 mark can't be ruled out, while taking support at 19,600 - 19,500 levels .The BSE Sensex jumped 394 points to 66,473, while the Nifty50 rose 122 points to 19,811 and formed a bullish candlestick pattern with a minor upper shadow on the daily charts.
NIFTY (19,811.35)
The key support levels for the Bank Nifty are placed at 19,750.40 followed by 19,700.30 . On the upside, key resistance levels are placed 19,900.40 & 19,950.70 up levels.
BANK NIFTY (44,516.90)
The key support levels for the Bank Nifty are placed at 44,150.40 followed by 43,700.30 . On the upside, key resistance levels are placed 44,750.40 and 44,800.70 up levels.
STOCK RELATED NEWS FROM
LAST DAY
Plaza Wires : The wire and cables manufacturer is set to make its debut on the BSE and NSE on October 12. The issue price has been fixed at Rs 54 per share.
IndusInd Bank : The Reserve Bank of India has given its approval to SBI Mutual Fund for acquiring up to 9.99 percent of the paid-up share capital in IndusInd Bank. The RBI has advised SBI MF to acquire the said shareholding in the bank within a period of one year i.e. by October 10, 2024.
Delta Corp : The casino gaming company has recorded consolidated profit at Rs 69.44 crore for the quarter ended September FY24, rising 1.74 percent over a year-ago period, impacted by muted topline and operating performance. Revenue from operations for the quarter stood at Rs 270.6 crore, increasing 0.2 percent YoY.
PCBL : The RP-Sanjiv Goenka Group company has been granted two patients invention, from the Indian Patent Office. One is for the process for treatment of carbon black & oxidized carbon black obtained thereof, which is in relation to the innovative process for modifications of specialty grade carbon blacks for inks and coating applications. The second patent is for surface-modified carbon black grades to improve the performance of rubber compounds, which is in relation to the innovative carbon black composition developed by the company to improve fuel efficiency and tyre life.
Pricol : The automotive components maker has entered into a cooperation agreement with Heilongjiang Tianyouwei Electronics. Both companies will closely work with each other through technology transfer and supply partnership in order to provide advanced technologies in driver information system solutions for Indian vehicle makers across various vehicle segments.
💰 FIIs & DIIs DEALS 💴
Foreign institutional investors (FII) offloaded shares worth Rs 421.77 crore, while domestic institutional investors (DII) purchased Rs 1,032.02 crore worth of stocks on October 11.
📗 LAST DAY'S SUMMARY 💯
The market extended its northward journey for a second consecutive session with the Nifty50 climbing above 19,800, which is on expected lines, on October 11. Hence, if the index sustains the 19,750-19,800 area in the coming sessions, the march towards the 20,000 mark can't be ruled out, while taking support at 19,600 - 19,500 levels .The BSE Sensex jumped 394 points to 66,473, while the Nifty50 rose 122 points to 19,811 and formed a bullish candlestick pattern with a minor upper shadow on the daily charts.
NIFTY (19,811.35)
The key support levels for the Bank Nifty are placed at 19,750.40 followed by 19,700.30 . On the upside, key resistance levels are placed 19,900.40 & 19,950.70 up levels.
BANK NIFTY (44,516.90)
The key support levels for the Bank Nifty are placed at 44,150.40 followed by 43,700.30 . On the upside, key resistance levels are placed 44,750.40 and 44,800.70 up levels.
STOCK RELATED NEWS FROM
LAST DAY
Plaza Wires : The wire and cables manufacturer is set to make its debut on the BSE and NSE on October 12. The issue price has been fixed at Rs 54 per share.
IndusInd Bank : The Reserve Bank of India has given its approval to SBI Mutual Fund for acquiring up to 9.99 percent of the paid-up share capital in IndusInd Bank. The RBI has advised SBI MF to acquire the said shareholding in the bank within a period of one year i.e. by October 10, 2024.
Delta Corp : The casino gaming company has recorded consolidated profit at Rs 69.44 crore for the quarter ended September FY24, rising 1.74 percent over a year-ago period, impacted by muted topline and operating performance. Revenue from operations for the quarter stood at Rs 270.6 crore, increasing 0.2 percent YoY.
PCBL : The RP-Sanjiv Goenka Group company has been granted two patients invention, from the Indian Patent Office. One is for the process for treatment of carbon black & oxidized carbon black obtained thereof, which is in relation to the innovative process for modifications of specialty grade carbon blacks for inks and coating applications. The second patent is for surface-modified carbon black grades to improve the performance of rubber compounds, which is in relation to the innovative carbon black composition developed by the company to improve fuel efficiency and tyre life.
Pricol : The automotive components maker has entered into a cooperation agreement with Heilongjiang Tianyouwei Electronics. Both companies will closely work with each other through technology transfer and supply partnership in order to provide advanced technologies in driver information system solutions for Indian vehicle makers across various vehicle segments.
💰 FIIs & DIIs DEALS 💴
Foreign institutional investors (FII) offloaded shares worth Rs 421.77 crore, while domestic institutional investors (DII) purchased Rs 1,032.02 crore worth of stocks on October 11.
🇮🇳Profitable_Platform🇮🇳
Short Term Trade 🎉✈️ 26 Oct Expiry Trade 🎉✈️ Colpal call 2100 @ 36 TGT 45-52-61-72++ SL @Known_To_All
CMP 55
1st 2nd target done 👍
Running profit of Rs 6650/- per lot..
💰💰💰💰💰🎉🎉🎉🎉🎉✈️✈️✈️✈️✈️✈️
1st 2nd target done 👍
Running profit of Rs 6650/- per lot..
💰💰💰💰💰🎉🎉🎉🎉🎉✈️✈️✈️✈️✈️✈️
Good Morning🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏
☀️ MORNING UPDATES 🗞️
📗 LAST DAY'S SUMMARY 💯
Equity benchmark indices entered into a consolidation mode after a two-day rally, with the Nifty50 closing a tad below the 19,800 mark with moderate losses on October 12. The index remained in the range of 19,750-19,850 for yet another session, hence the decisive breakout on either of these ranges can give clear direction to the market going forward, experts said.The BSE Sensex fell 65 points to 66,408, while the Nifty50 dropped 17 points to 19,794 and formed a bearish candlestick pattern with minor upper and lower shadows, which resembles the Spinning Top kind of pattern on the daily charts, indicating indecisiven - ess among bulls and bears about future market trend.
NIFTY (19,794.00)
The key support levels for the Bank Nifty are placed at 19,700.40 followed by 19,650.30 . On the upside, key resistance levels are placed 19,850.40 & 19,950.70 up levels.
BANK NIFTY (44,599.20)
The key support levels for the Bank Nifty are placed at 44,250.40 followed by 43,700.30 . On the upside, key resistance levels are placed 44,750.40 and 44,800.70 up levels.
STOCK RELATED NEWS FROM
LAST DAY
Maruti Suzuki : The country's largest car manufacturing company said the board of directors will be meeting on October 17 to consider the issue of equity shares of the company to Suzuki Motor Corporation on a preferential basis. The consideration of issuance of equity shares will be other than cash, for the acquisition of a 100 percent equity stake of Suzuki Motor Corporation in Suzuki Motor Gujarat Private Limited.
SJVN : Subsidiary SJVN Green Energy has received the Letter of Award (LOA), at a tariff of Rs 2.62 per unit, for the development of a 100 MW solar power project from Rajasthan Urja Vikas Nigam (RUVNL) in Rajasthan. The solar project will be developed on a build, own, and operate (BOO) basis. The tentative cost of development of this project is around Rs 600 crore.
IRCON International : The Department of Public Enterprise has granted the Navratna Status to IRCON. IRCON will be the 15th Navratna amongst the CPSEs.
One 97 Communications : The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5.39 crore on Paytm Payments Bank, part of mobile payment company Paytm, for non-compliance with Know Your Customer (KYC) norms.
📊 RESULTS ON 13TH OCT 💯
HDFC Life Insurance Company, Aditya Birla Money, Tata Steel Long Products, Den Networks, Sai Silks (Kalamandir), Som Distilleries & Breweries, Gala Global Products, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Premier Capital Services .
💰 FIIs & DIIs DEALS 💴
Foreign institutional investors (FII) sold shares worth Rs 1,862.57 crore, while domestic institutional investors (DII) bought Rs 1,532.08 crore worth of stocks on October 12.
📗 LAST DAY'S SUMMARY 💯
Equity benchmark indices entered into a consolidation mode after a two-day rally, with the Nifty50 closing a tad below the 19,800 mark with moderate losses on October 12. The index remained in the range of 19,750-19,850 for yet another session, hence the decisive breakout on either of these ranges can give clear direction to the market going forward, experts said.The BSE Sensex fell 65 points to 66,408, while the Nifty50 dropped 17 points to 19,794 and formed a bearish candlestick pattern with minor upper and lower shadows, which resembles the Spinning Top kind of pattern on the daily charts, indicating indecisiven - ess among bulls and bears about future market trend.
NIFTY (19,794.00)
The key support levels for the Bank Nifty are placed at 19,700.40 followed by 19,650.30 . On the upside, key resistance levels are placed 19,850.40 & 19,950.70 up levels.
BANK NIFTY (44,599.20)
The key support levels for the Bank Nifty are placed at 44,250.40 followed by 43,700.30 . On the upside, key resistance levels are placed 44,750.40 and 44,800.70 up levels.
STOCK RELATED NEWS FROM
LAST DAY
Maruti Suzuki : The country's largest car manufacturing company said the board of directors will be meeting on October 17 to consider the issue of equity shares of the company to Suzuki Motor Corporation on a preferential basis. The consideration of issuance of equity shares will be other than cash, for the acquisition of a 100 percent equity stake of Suzuki Motor Corporation in Suzuki Motor Gujarat Private Limited.
SJVN : Subsidiary SJVN Green Energy has received the Letter of Award (LOA), at a tariff of Rs 2.62 per unit, for the development of a 100 MW solar power project from Rajasthan Urja Vikas Nigam (RUVNL) in Rajasthan. The solar project will be developed on a build, own, and operate (BOO) basis. The tentative cost of development of this project is around Rs 600 crore.
IRCON International : The Department of Public Enterprise has granted the Navratna Status to IRCON. IRCON will be the 15th Navratna amongst the CPSEs.
One 97 Communications : The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5.39 crore on Paytm Payments Bank, part of mobile payment company Paytm, for non-compliance with Know Your Customer (KYC) norms.
📊 RESULTS ON 13TH OCT 💯
HDFC Life Insurance Company, Aditya Birla Money, Tata Steel Long Products, Den Networks, Sai Silks (Kalamandir), Som Distilleries & Breweries, Gala Global Products, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Premier Capital Services .
💰 FIIs & DIIs DEALS 💴
Foreign institutional investors (FII) sold shares worth Rs 1,862.57 crore, while domestic institutional investors (DII) bought Rs 1,532.08 crore worth of stocks on October 12.
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Sept retail inflation at 3-mnth low of 5.02%; Aug IIP growth rises to 10.3%
India’s retail inflation rate fell below the Reserve Bank of India’s (RBI’s) upper tolerance level of 6 per cent for the first time in three months in September, while industrial production growth accelerated to a 14-month high in August, providing some relief to the government on the macroeconomic front ahead of the festival season. The data released by the National Statistical Office (NSO) on Thursday showed that the Consumer Price Index (CPI)-based inflation eased to 5.02 per cent year-on-year in September from 6.8 per cent in August on account of a moderation in prices of vegetables, cereals, clothing and footwear, housing, and services. Separately, the country’s industrial output, as measured by the Index of Industrial Production (IIP), grew by 10.3 per cent Y-o-Y in August compared to 6.02 per cent in July, driven by a low-base effect and robust growth in the power (15.3 per cent), mining (12.3 per cent), and manufacturing (9.3 per cent) sectors. Last week, the Monetary Policy Committee (MPC) of the RBI had unanimously kept the repo rate unchanged at 6.5 per cent for a fourth consecutive policy review and maintained the “withdrawal of accommodation” stance. The central bank had also retained its forecast for retail inflation at 5.4 per cent for FY24. However, it revised upwards its inflation forecast for Q2FY24 to 6.4 per cent from 6.2 per cent, and downwards for Q3FY24 to 5.6 per cent from 5.7 per cent.
IMF calls for urgent support from members to increase its quota resources
As part of its “Global Policy Agenda” unveiled at Marrakesh, the International Monetary Fund (IMF) has called for urgent support from members to increase its quota resources and to secure funding for the Poverty Reduction and Growth Trust (PRGT) and Resilience and Sustainability Trust (RST) to benefit the poorest members. The PRGT and RST are concessional lending facilities of the IMF. However, while the PRGT is available to low-income countries that are eligible for the IMF’s concessional financing for poverty reduction, the RST is a newer facility, established in 2021, to help low-income and vulnerable middle-income countries build resilience to climate change and other external risks. “To be able to continue support for our poorest and most vulnerable EMDEs (emerging market and developing economies), we rely on our economically stronger members to close the remaining subsidy funding gap for the PRGT. To date, more than $40 billion in resources has already been pledged to the RST, and — pending a successful review of the RST — we encourage members to scale up their efforts, including by raising the ambition of economically stronger members beyond the target of rechanneling 20 per cent of the 2021 SDR (special drawing rights) allocation,” the report said.
PE investments in Indian real estate dip 12% to $2.3 billion in H1
The flow of private equity (PE) money into Indian real estate declined by 12 per cent year-on-year (Y-o-Y) to $2.3 billion in April-September 2023 (H1FY24) from $ 2.7 billion in the same period last year. The decline in flows tracked overall lower investments in the residential sector, according to real estate banking advisory firm Anarock Capital. The flows have remained below the pre-pandemic level of $4.2 billion in H1FY20. During the first wave of the Covid-19 pandemic, PE investments had declined to $1.5 billion H1FY21. Later, investments rose to touch $2 billion in H1FY22. Equity investments continued to be the preferred route for investors in H1FY24, said Shobhit Agarwal, managing director and chief executive officer, Anarock Capital. The share of equity rose to 89 per cent in H1FY24 from 78 per cent in H1FY23. The top 10 deals accounted for 95 per cent of the total value of PE investments in H1FY24 compared to 81 per cent in H1FY23.
Commodities Play
Gold – Rs 57906/10gm, Silver – Rs 69576/kg, Brcrude – Rs 7229/barrel, Natural gas – Rs 281/mmBtu, Copper – Rs 707/kg.
Sept retail inflation at 3-mnth low of 5.02%; Aug IIP growth rises to 10.3%
India’s retail inflation rate fell below the Reserve Bank of India’s (RBI’s) upper tolerance level of 6 per cent for the first time in three months in September, while industrial production growth accelerated to a 14-month high in August, providing some relief to the government on the macroeconomic front ahead of the festival season. The data released by the National Statistical Office (NSO) on Thursday showed that the Consumer Price Index (CPI)-based inflation eased to 5.02 per cent year-on-year in September from 6.8 per cent in August on account of a moderation in prices of vegetables, cereals, clothing and footwear, housing, and services. Separately, the country’s industrial output, as measured by the Index of Industrial Production (IIP), grew by 10.3 per cent Y-o-Y in August compared to 6.02 per cent in July, driven by a low-base effect and robust growth in the power (15.3 per cent), mining (12.3 per cent), and manufacturing (9.3 per cent) sectors. Last week, the Monetary Policy Committee (MPC) of the RBI had unanimously kept the repo rate unchanged at 6.5 per cent for a fourth consecutive policy review and maintained the “withdrawal of accommodation” stance. The central bank had also retained its forecast for retail inflation at 5.4 per cent for FY24. However, it revised upwards its inflation forecast for Q2FY24 to 6.4 per cent from 6.2 per cent, and downwards for Q3FY24 to 5.6 per cent from 5.7 per cent.
IMF calls for urgent support from members to increase its quota resources
As part of its “Global Policy Agenda” unveiled at Marrakesh, the International Monetary Fund (IMF) has called for urgent support from members to increase its quota resources and to secure funding for the Poverty Reduction and Growth Trust (PRGT) and Resilience and Sustainability Trust (RST) to benefit the poorest members. The PRGT and RST are concessional lending facilities of the IMF. However, while the PRGT is available to low-income countries that are eligible for the IMF’s concessional financing for poverty reduction, the RST is a newer facility, established in 2021, to help low-income and vulnerable middle-income countries build resilience to climate change and other external risks. “To be able to continue support for our poorest and most vulnerable EMDEs (emerging market and developing economies), we rely on our economically stronger members to close the remaining subsidy funding gap for the PRGT. To date, more than $40 billion in resources has already been pledged to the RST, and — pending a successful review of the RST — we encourage members to scale up their efforts, including by raising the ambition of economically stronger members beyond the target of rechanneling 20 per cent of the 2021 SDR (special drawing rights) allocation,” the report said.
PE investments in Indian real estate dip 12% to $2.3 billion in H1
The flow of private equity (PE) money into Indian real estate declined by 12 per cent year-on-year (Y-o-Y) to $2.3 billion in April-September 2023 (H1FY24) from $ 2.7 billion in the same period last year. The decline in flows tracked overall lower investments in the residential sector, according to real estate banking advisory firm Anarock Capital. The flows have remained below the pre-pandemic level of $4.2 billion in H1FY20. During the first wave of the Covid-19 pandemic, PE investments had declined to $1.5 billion H1FY21. Later, investments rose to touch $2 billion in H1FY22. Equity investments continued to be the preferred route for investors in H1FY24, said Shobhit Agarwal, managing director and chief executive officer, Anarock Capital. The share of equity rose to 89 per cent in H1FY24 from 78 per cent in H1FY23. The top 10 deals accounted for 95 per cent of the total value of PE investments in H1FY24 compared to 81 per cent in H1FY23.
Commodities Play
Gold – Rs 57906/10gm, Silver – Rs 69576/kg, Brcrude – Rs 7229/barrel, Natural gas – Rs 281/mmBtu, Copper – Rs 707/kg.
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