Share Market News Highlights: Sensex falls 230 points, Nifty settles below 18,350; Titan, M&M, Eicher Motors among top drags
Prashun Talukdar | Updated Nov 17, 2022 5:03 PM IST
Stock Market News Highlights: Sensex and Nifty traded lower on Thursday amid weak global cues. On the stock-specific front, Paytm, Nazara Tech, Info Edge (Naukri), Adani Transmission, Brightcom Group, Godfrey Phillips, HCC, NLC India, Timken India and Balmer Lawrie were among the most active shares today.
Share Market News Today Updates, 17 November 2022: Sensex and Nifty settled on a lower note today.Share Market Updates Today: Indian equity benchmarks traded lower on Thursday amid weak global cues. On the stock-specific front, Paytm, ICICI Bank, HDFC Bank, Nykaa, Adani Enterprises, Reliance Industries, L&T, Timken India, HDFC and Tata Motors were among the most active shares, in terms of value, today. Globally, strong US retail sales data dampened the investor sentiment that the central bank would soften its pace of interest rate hikes. Asian shares declined today, in sync with an overnight fall on Wall Street. All three major US stock indexes settled lower. Japan's Nikkei index fell 0.35 per cent, South Korea's KOSPI moved 1.39 per cent down, the Shanghai Composite index slipped 0.15 per cent and Hong Kong's Hang Seng Index plunged 1.15 per cent. US stock futures slipped, indicating a lower opening for Wall Street later today. S&P futures fell 0.17 per cent, Nasdaq futures edged 0.07 per cent lower and Dow Futures shed 0.27 per cent. Back home, foreign institutional investors (FIIs) continued to sell stock in a second consecutive session. FIIs offloaded net of Rs 386 crore equities, while domestic investors purchased Rs 1,437 crore of shares, according to provisional data available with the National Stock Exchange.
Here are the share market highlights:
Nifty outlook - Ajit Mishra, VP - Technical Research, Religare Broking Ltd
Nifty traded dull in a narrow range for most of the session, however, decline in the last half an hour pushed the index lower. The recent market structure is pointing towards the possibility of some profit-taking or consolidation ahead. However, we expect Nifty to hold the 17,800-18,100 zone. The prevailing underperformance on the broader front is already hurting sentiment and it might deteriorate further during the corrective phase. We thus reiterate our view to remain selective and focus on position sizing.
Adani Ent, CIL, SBI Life logged over 50% jump in Q2 profits
Data showed Nifty as a pack reported 9 per cent rise in profit against an expectation of flat profit, led by banking, financials and insurance companies. (Read more)
Stocks at one-year highs: 12 BSE 500 stocks hit 52-week highs
BSE 500 stocks such as Airtel, Cummins India, Engineers India, Exide, Godfrey Phillips, HAL, HUDCO, IRFC, JB Chemical & Pharma, Mazdoc, Timken India and Union Bank of India hit their 52-week highs today.
Stocks at one-year lows: 11 BSE 500 stocks hit 52-week lows
BSE 500 stocks such as IndiGo Paints, Mastek, Max Financial Services, PB Fintech (Policybazaar), Quess Corp, Sanofi India, Shilpa Medicare, SIS, Sona BLW Precision Forgings, Sudarshan Chemical Industries and Voltas hit their 52-week lows today.
Market quote - Vinod Nair, Head of Research at Geojit Financial Services
Global markets have recently surged on expectations that the Fed may scale back its aggressive rate hike schedule in reaction to easing US inflation statistics. The euphoria was, however, dashed by better U.S. retail sales in October and aggressive remarks from Fed officials. The domestic market moved in tandem with the trend, with most sectors in red. As the domestic market got more expensive, FIIs were seen being cautious.
Nifty Technical view - Rupak De, Senior Technical Analyst at LKP Securities
Nifty started lower and remained volatile throughout the day. On a closing basis, Nifty bulls were able to hold the crucial support of 18,300. The RSI (14) on the daily chart has entered a bearish correction. Going forward, a fall below 18,300 may trigger a correction towards 18,100-18,000. On the other hand, resistance is visible at 18,450.
Share market breadth
The overall market breadth stood negative as 1,518 shares advanced while 1,991 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 283.14 lakh crore.
Nifty Consumer Durables, Nifty Auto & Nifty IT underperform
13 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty Consumer Durables, Nifty Auto and Nifty IT underperformed the NSE platform by falling as much as 1.36 per cent, 1.36 per cent and 0.90 per cent, respectively.
Mid and small-cap stocks
Mid- and small-cap shares finished lower as Nifty Midcap 100 fell 0.40 per cent and small-cap declined 0.34 per cent.
Top gainers & losers on NSE
On the stock-specific front, Titan was the top Nifty loser as the stock cracked 2.28 per cent to close at Rs 2,583.95. M&M, Tata Motors, Eicher Motors and Apollo Hospitals were also among the laggards. In contrast, Tata Consumer Products, Adani Enterprises, L&T, PowerGrid and HDFC Life were among the top gainers.
Share market closing
Sensex falls 230 points or 0.37 per cent to close at 61,751, Nifty moves 66 points or 0.36 per cent lower to settle at 18,344
Share market update: Sensex falls over 250 points, Nifty below 18,350
Sensex falls 251 points or 0.41 per cent to trade at 61,729, Nifty moves 80 points or 0.43 per cent lower to trade at 18,330; Titan, M&M, Eicher Motors, Apollo Hospitals, Tata Motors among top drags
Escorts Kubota Ltd: Buy, sell or Hold?
Geojit Financial Services recommended 'Sell' rating on the stock with a target price of Rs Rs 1,783, which suggested 12 per cent potential downside. "Considering the margin pressure and lower volume for H2, we downgrade our estimate and recommend 'Sell' rating," the brokerage said.
Nava Ltd shares tank 3.5%
Shares of Nava Ltd fell 3.66 per cent to trade at Rs 180.50. The stock hit a day low of Rs 180.20. A total of 47,000 shares changed hands today amounting to a turnover of Rs 85.38 lakh. The company's market capitalisation (m-cap) stood at Rs 2,822.91 crore.
Confidence Petroleum India Ltd shares climb 6%
Shares of Confidence Petroleum India Ltd surged 6.05 per cent to trade at Rs 79.70. The stock hit a day high of Rs 81.05. A total of 2.44 lakh shares changed hands today amounting to a turnover of Rs 1.89 crore. The company's market capitalisation (m-cap) stood at Rs 2,255.05 crore.
NLC India Ltd shares up nearly 5%
Shares of NLC India Ltd surged 4.81 per cent to trade at Rs 79.55. The stock hit a day high of Rs 80.40. A total of 5.08 lakh shares changed hands today amounting to a turnover of Rs 3.96 crore. The company's market capitalisation (m-cap) stood at Rs 11,037.63 crore.
Himatsingka Seide Ltd shares down nearly 3%
Shares of Himatsingka Seide Ltd fell 2.85 per cent to trade at Rs 92. The stock hit a day low of Rs 91.35. A total of 54,000 shares changed hands today amounting to a turnover of Rs 50.15 lakh. The company's market capitalisation (m-cap) stood at Rs 905.31 crore.
Praj Industries Ltd shares fall 3%
Shares of Praj Industries Ltd declined 3.15 per cent to trade at Rs 407. The stock hit a day low of Rs 405. A total of 73,000 shares changed hands today amounting to a turnover of Rs 2.98 crore. The company's market capitalisation (m-cap) stood at Rs 7,474.12 crore.
Supreme Industries Ltd shares down 3%
Shares of Supreme Industries Ltd slipped 3.45 per cent to trade at Rs 2,288.95. The stock hit a day low of Rs 2,269.10. A total of 3,274 shares changed hands today amounting to a turnover of Rs 75.71 lakh. The company's market capitalisation (m-cap) stood at Rs 29,075.82 crore.
Medi Assist buys majority stake in UK-based Mayfair We Care
Medi Assist today announced its acquisition of a majority stake in UK-based global benefits administrator Mayfair We Care.