Share Market News Highlights: Sensex zooms 1,181 points, Nifty settles at 18,350; HDFC twins, Infosys, TechM among top gainers
Business Today Desk | Updated Nov 11, 2022 4:49 PM IST
Stock Market News Highlights: Sensex and Nifty traded higher on Friday, taking cues from the global stocks. Asian shares surged as Japan's Nikkei index gained 2.98 per cent, South Korea's KOSPI jumped 3.37 per cent, the Shanghai Composite index rose 1.69 per cent and Hang Seng Index zoomed 7.74 per cent.
Share Market News Today Updates, 11 November 2022: Trends on SGX Nifty indicated a higher opening for the domestic markets.Share Market Updates Today: Indian equity benchmarks traded higher on Friday, taking cues from the global stocks. Asian shares surged as Japan's Nikkei index gained 2.98 per cent, South Korea's KOSPI jumped 3.37 per cent, the Shanghai Composite index rose 1.69 per cent and Hang Seng Index zoomed 7.74 per cent.
Overnight, all three major US stock indexes notched their biggest one-day percentage advances in about two-and-a-half years as the annual consumer price index number stood below 8 per cent for the first time in eight months.
US stock futures rose, indicating a higher opening for Wall Street today. S&P futures climbed 0.44 per cent, Nasdaq futures moved 0.67 per cent higher and Dow Futures gained 0.41 per cent.
In domestic earnings, Mahindra and Mahindra, Life Insurance Corporation of India (LIC), battery maker Exide Industries, and engineering company Bharat Heavy Electricals would be among the scores of companies reporting quarterly numbers.
Foreign institutional investors bought a net of Rs 36.06 crore equities on Thursday, while domestic investors sold Rs 967 crore of shares, as per provisional data available with the National Stock Exchange.
Here are the share market highlights:
Share market breadth
The overall market breadth stood positive as 1,826 shares advanced while 1,629 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 284.56 lakh crore. Investors got richer by Rs 3 lakh crore today.
Nifty IT, Financial Services, Metal outperform
12 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty IT, Nifty Financial Services and Nifty Metal outperformed the NSE platform by rising as much as 3.81 per cent, 2.17 per cent and 2.03 per cent, respectively.
Nifty Bank view
"The Bank Nifty bulls managed to surpass the hurdle of 42,000 with major participation from HDFC Bank. The index to move forward will require participation from the other counters to go higher towards the levels of 43,000-43,500. The lower-end immediate support stands at the 41,700-41,500 zone which should act as a cushion," said Kunal Shah, Senior Technical Analyst at LKP Securities.
Nifty technical view
"The Nifty remained strong during the day following a gap-up start. On the daily chart, the index has moved above the previous consolidation. The trend looks positive as long as the 18,300 level is held on a closing basis. On the higher end, it may move towards 18,600 over the near term. On the lower end, support is pegged at 18,200/18,000," said Rupak De, Senior Technical Analyst at LKP Securities.
Mid and small-cap stocks
Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 rose 0.07 per cent and small-cap climbed 0.38 per cent.
Expert view
"The domestic market joined the global run as markets across the world cheered the lower-than-expected US inflation data. The US dollar slumped along with treasury yields as investors evaluated the likelihood of a less hawkish rate hike by the Fed. Reduced treasury yields will aid to improve FII inflows. The rally of domestic market was led by IT stocks as recession fears reduced and HDFC twins after merger overhang," said Vinod Nair, Head of Research at Geojit Financial Services.
Top gainers & losers on NSE
On the stock-specific front, HDFC twins (HDFC and HDFC Bank) were the top Nifty gainers as the stocks soared 5.72 per cent to close at Rs 2,647.25 and Rs 1,611.90, respectively. Infosys, Tech Mahindra and HCL Tech were also among the gainers. In contrast, Eicher Motors, Hero MotoCorp, SBI, Britannia and M&M were among the top losers.
Share market closing
Sensex zooms 1,181 points or 1.95 per cent to settle at 61,795, Nifty moves 322 points or 1.78 per cent to close at 18,350
Firstsource Solutions up 6%
Shares of Firstsource Solutions jumped 6.30 per cent to trade at Rs 108.85. The stock hit an intraday high of Rs 109.50.
Eicher Motors down nearly 5%
Shares of Eicher Motors plunged 4.92 per cent to trade at Rs 3,519.45. The stock hit an intraday low of Rs 3,506.45.
Union Bank of India shares up 33% in six sessions; should you buy, sell or hold?
Shares of Union Bank of India continued their upward march for the sixth straight session today. The stock surged 3.52 per cent to hit an intraday high -- also its fresh 52-week high -- of Rs 69.20 against a previous close of Rs 66.85. Union Bank shares, however, cooled off from one-year high levels in late deals. (Read more)
Swan Energy up nearly 8%
Shares of Swan Energy jumped 7.88 per cent to trade at Rs 234.05. The stock hit an intraday high of Rs 236.80.
Apar Industries up 6%
Shares of Apar Industries jumped 6.35 per cent to trade at Rs 1,497.85. The stock hit an intraday high of Rs 1,528.95.
Share market update
Sensex zooms 1,154 points or 1.90 per cent to trade at 61,768, Nifty moves 311 points or 1.72 per cent higher to trade at 18,339; HDF twins (HDFC and HDFC Bank), Infosys, HCL Tech, Hindalco among top gainers
5 reasons behind Sensex's rally. Will stock indices hit new highs?
Sensex's 1,100-point rally on Friday was largely led by a lesser-than-expected US CPI inflation print, which raised hopes of end to the Fed's aggressive rate hike cycles. A strengthening dollar, which is weighing on emerging market currencies of late, took a U-turn, sending Asian markets higher. (Read more)
HDFC shares up 7%
Shares of HDFC surged 7.11 per cent to trade at Rs 2,683. The stock touched an intraday high of Rs 2,679.
Brightcom Group up over 7%
Shares of Brightcom Group surged 7.18 per cent to trade at Rs 37.30. The stock touched an intraday high of Rs 37.65.
HDFC Bank up nearly 6%
Shares of HDFC Bank jumped 5.83 per cent to trade at Rs 1,614.15. The stock touched an intraday high of Rs 1,615.
Zomato shares up nearly 8%
Shares of online food aggregator Zomato surged 7.97 per cent to trade at Rs 69.05. The stock touched an intraday high of Rs 72.25.
Share market update
Sensex zooms 1,002 points or 1.65 per cent to trade at 61,616, Nifty moves 283 points or 1.57 per cent higher to trade at 18,311; Apollo Hospitals, Infosys, HDFC, HCL Tech, TCS among top gainers