Informist, Monday, Oct 30, 2023
By Neeshita Beura
MUMBAI – Banks and financial services companies reversed their losses in early trade and led benchmark indices to end higher today. Apart from that, oil and gas companies also pulled the benchmarks higher.
HDFC Bank, ICICI Bank, and Kotak Mahindra Bank were the major gainers among banks, and Reliance Industries, Oil and Natural Gas Corp, and Bharat Petroleum Corp aided gain in the oil and gas sector.
“Indian indices, Nifty (50) and Sensex, traded lower during early hours as investors watched the latest developments in the Middle East but later recovered their losses and moved higher to end 0.5% higher supported by index heavyweights – Reliance Industries, HDFC Bank, ICICI Bank and Bharti Airtel,” Avdhut Bagkar, a technical and derivatives analyst at StoxBox, said in a note.
Today, both Nifty 50 and Sensex ended 0.5% higher at 19140.90 points and 64112.65 points, respectively, after having started the day on a sombre note.
Rajesh Palviya, the head of technical and derivatives research at Axis Securities, said that globally, markets are under pressure and what we saw today in the domestic market is just a temporary technical pullback. He said that Nifty 50 has to sustain above 19200-19300 points for participants to confirm strength in the market.
When it comes to the global market, on Friday, US indices ended mixed and today, Asian indices also ended mixed while investors await the US Federal Reserve’s policy meeting outcome due Wednesday.
“Despite the recovery, there is a lot of pessimism amongst the investors due to slew of negative factors such as Israel-Hamas conflict, FII (foreign institutional investors) fund outflows, higher inflation, and strengthening US bond yields,” Shrikant Chouhan, the head of equity research at Kotak Securities said in a note.
Back home, shares of Bharat Petroleum Corp snapped a five-day losing streak today and rose nearly 4% to an intraday high of 348.90 rupees. The company declared its results for the quarter ended September on Friday, recording a higher-than-expected net profit of 85.01 bln rupees. BPCL closed the day as the top gainer on Nifty 50.
On other hand, shares of Nifty 50 constituent UPL shed 3.8%, extending losses for the ninth straight session. During market hours today, the company reported a consolidated net loss of 1.89 bln rupees in the quarter ended September against profit in the previous year. The bottomline also came lower than the Street’s view of 4.03 bln rupees.
Today, the broader market ended on a mixed note.
* Of the Nifty 50 stocks, 26 rose and 24 fell
* Of the Sensex stocks, 15 rose and 15 fell
* On the BSE, 1,922 stocks rose, 1,813 fell, and 200 were unchanged
* Nifty Oil & Gas: Up 1.3%; Nifty Bank: Up 0.6%; Nifty Auto: Down 0.9%
BSE NSE
Sensex: 64112.65, up 329.85 pts, or 0.5% Nifty 50: 19140.90, up 93.65 pts, or 0.5%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 67927.23 (Sep 15, 2023) : Lifetime High: 20222.45 (Sep 15, 2023)
Record Close High: 67838.63 (Sep 15, 2023) : Record Close High: 20192.35 (Sep 15, 2023)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 67838.63 (Sep 15, 2023) : 2023 Closing High: 20192.35 (Sep 15)
2023 Closing Low: 59288.35 (Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 67927.23 (Sep 15) : 2023 High (intraday): 20222.45 (Sep 15)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Jan 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)-
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Akul Nishant Akhoury
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