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Share Market Highlights: Sensex ends 500 points higher, Nifty at 11,813; NTPC, BPCL, HUL top gainers

India Stock Market Highlights Today: Global equities turned buoyed today as investors braced for the US presidential election, on Tuesday

Share Market Highlights: Here's a look at the updates of the market action on BSE and NSE today Share Market Highlights: Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Highlights on November 3: Market indices closed 1.25% higher Tuesday, amid positive global equities. Sensex ended 503 points higher at 40,261 and Nifty rose 144 points to 11,813. SGX Nifty on the Singapore Exchange was rising by 85 points, indicating a positive trend in domestic grounds today. Meanwhile, September quarterly earnings announcements by Sun Pharma, PVR, Adani Gas, Adani Ports, Muthoot Finance, Ajanta Pharma, CARE Ratings, Dabur will also set the tone for the stock market today. Yesterday, Sensex ended 143 points higher at 39,757 and Nifty gained 26 points to 11,669.

Here's a look at the updates of the market action on BSE and NSE today

3.  57PM: Closing

Market indices closed 1.25% higher Tuesday, amid positive global equities. Sensex ended 503 points higher at 40,261 and Nifty rose 144 points to 11,813.

3. 46 PM: Market outlook

On markets closing --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"It is not advisable to initiate or keep short positions in the market. The longs would trigger if we can keep above the 11800-11850 levels for a couple of days and that should take the index to 12200-12300 levels during the course of this month. Until this happens, traders are advised to maintain a cautious stance and wait for the right time to enter into directional trades."

3. 37PM: Just Dial Q2 outlook

NTPC's 2Q FY21 outlook, JM Financial Institutional Securities said in its note,"Company remains hopeful of further improvement in financial performance. We raise FY21E-23E EPS by 6-9% although it may be too early to factor in any earnings from the new launches. Just dial remains very cheap relative to IndiaMart (Buy, TP 2,930) which trades at 59x/51x FY22/23E EPS even after noting concerns around longer term sustainability and historical issues around the execution on new launches (JD Omni and JD Plus). Take over coverage with a BUY and a revised TP of INR 680 (based on 15x core Dec'22E EPS + cash)".

3. 23PM: NTPC outlook

NTPC's 2Q FY21 outlook, JM Financial Institutional Securities said in its note,"Having overcome past dampeners (FY18-19) of low coal supply/PAF-led fixed-cost under-recoveries, NTPC currently enjoys high coal stocks (18 days) with high plant PAFs (92%). At the current run rate of 17-18% core RoE and 12-15% annual growth in regulated equity (5-6GW annual capex), we believe NTPC can deliver 13-14% EPS CAGR over FY20-22 while the stock trades at 0.67x BV and 5.4x P/E on an FY22 basis. Considering the strong 1HFY21 performance, we have upgraded our FY21/22 earnings by 11.8%/3.5% respectively. We reiterate BUY with a revised TP to INR 143 (vs 160 earlier) factoring bear case terminal growth of 2% vs 5% earlier. Key Risk: Delays in capex and prolonged stretch in receivables."

3.03 PM: JSPL' Q2 outlook

JM Financial Institutional Securities said in its note," JSPL's Standalone steel EBITDA came in at INR24.3bn, implying a robust EBITDA per ton of INR12k+, primarily due to availability of old, paid-for iron ore stock from Sarada mines. JPL reported an EBITDA of INR3bn while international mining operations continued to report losses. Shadeed operations in Oman is now being reported as discontinued operations, pending completion of sale execution. Ex-Oman EBITDA stood at INR27bn for the quarter. Net debt reduced from INR359bn as at Mar'20 to INR289bn as at end 2Q. We roll forward to FY23, arriving at our fair value of INR260/sh (vs INR220/sh earlier) and upgrade rating to BUY (from HOLD earlier). Pick up in construction activity in 2H leading to higher long product prices and resumption of old iron ore stock dispatch from Sarada mines remain near term triggers for the name."

2. 46PM: Why Tata Motors share rose over 8% today

Shares of homegrown auto major Tata Motors were rising over 3% on Tuesday after the company declared its sales numbers from the month of October.

Tata Motors reported a 27% growth in domestic sales to 49,669 units in October against 39,152 units YoY

Tata Motors stock has risen 1.86% in the last 3 days. Today, the stock touched an intraday high of Rs 137.35 following the press release, rising 3.39% as against the last close of Rs 132.85 on BSE.

2. 39 PM: HDFC Life Insurance outlook

On HDFC Life Insurance's outlook, Geojit Financial Services said,"During Q2FY21 gross premium rose 34.8% YoY to Rs. 10,182cr on account of strong growth under renewal premium (+20.8% YoY), single premium (+65.5% YoY ), and first year premium (+15.3% YoY). New business value rose 22.1% YoY to Rs. 547cr in Q2FY21 with company's VNB margin moved to 25.6% compared to 25.4% in Q2FY20. The company continued to focus on the protection segment as protection based individual APE (Annualized Premium Equivalent) rose 28.0% YoY to Rs. 128cr in Q2FY21. The company's strong product mix, cost reduction initiatives, and strong APE growth potential will aid the performance in upcoming quarters. Hence, we upgrade our rating to BUY on the stock with a revised target price of Rs. 660 based on 4.5x FY22E EV per share.   

2.22 PM: Rupee rises 14 paise

Indian rupee, the local currency benchmark appreciated 14 paise to 74.28 per US dollar on Tuesday, as a positive trend in domestic equities and weak American currency strengthened investor sentiments. Besides, fresh foreign fund inflows also supported the domestic unit, forex dealers said.

The rupee opened strong at 74.34 at the interbank forex market and gained by 14 paise to 74.28 over its previous close.

Rupee rises 14 paise amid weak US dollar, positive equities

2. 17PM: YES Bank share price rises after 6 days

Reversing from a straight 6-day fall, shares of YES Bank were trading in the positive territory on Tuesday, following reports that the troubled private sector lender is gearing up to sell its non-performing assets (NPAs) worth Rs 32,344 crore to asset reconstruction companies (ARCs) or other potential investors.

YES Bank share price opened 1.6% higher today at Rs 12.44 also its day's high as against the earlier close of Rs 12.24 on BSE. The stock also hit an intraday low of Rs 12.26 early in the session.

The share price of the private sector lender has declined 4% in one week, 7% in one month and 73% since the beginning of the year. YES Bank stock is trading lower than 5, 20, 50, 100 and 200-day moving averages.

YES Bank share rises after 6 days, here's why

2.00 PM: HDFC quarterly outlook

JMFL in its report said," In 2QFY21, HDFC Ltd reported a strong core operating performance with PPOP (ex divds, capgains) up 41% YoY (12% QoQ) driven by 16% YoY (6%QoQ) increase in NII and 4% YoY(8% QoQ) fall in opex. PBT was down 22% YoY owing to lower cap. gains with PAT down28% in 2QFY21. This, along with resolutions incorporate book gives mgmt. confidence of low restructured assets. We believe strongfranchises like HDFC will outperform going ahead given, 1) strong liability franchise incl. INR1.5trn deposit base, 2) ability to maintain retail market share while selectively increasingshare in corporate segment especially developer finance as 35% of the CF market (incl.banks) is either defocusing/recalibrating strategy/reeling under capital constraints and 3)strong sourcing with +80% of loans via self- and HDFC Bank. We expect core PPOP CAGR of16% and PBT CAGR of 48% over FY20-22E driven by AUM CAGR of 12%, improvingmargins and lower credit costs. We value HDFC using the SOTP method and maintain BUYwith a TP of INR2,500."

1. 50 PM: Gold price trading above Rs 50K

Gold prices were trading bit lower on Tuesday near the key psychological level of Rs 50K amid uncertainty over US Presidential election and rise in coronavirus across the globe.

In a volatile trading session, Gold October Futures on the Multi Commodity Exchange fell by Rs 170 to trade at Rs 50,898, after yesterday's close of Rs 51,067.

Comex Gold traded flat at $1,890.40, while US gold futures were little changed at $1,892.00 per ounce. Spot gold prices were down 0.1% at $1,892.52 per ounce. Silver was also little changed at $24.03 per ounce.

Gold price trading above Rs 50K; silver rates at Rs 61,650

1. 39 PM: HDFC Bank outlook

Motilal Oswal said in its note," The bank is seeing improving trends across key business verticals, with some segments like Credit Cards showing strong buoyancy. The Credit Cards segment grew 6% QoQ, with spends also back at pre-COVID levels. Corporate growth remains robust, and the bank continues to focus on high-rated borrowers. HDFCB has prudently made contingent + floating provisions of ~INR77.6b, which would allow the bank to absorb any asset quality issues as business trends normalize fully. The bank has reported a ~97% collection efficiency, which has assuaged concerns not only on the

asset quality outlook for the bank but also the broader retail cycle. We estimate HDFCB to deliver a ~19% PAT CAGR over FY20-FY23E, with ROA/ROE at 2.0%/17.8% for FY23E. Maintain Buy, with revised TP of INR1,500 (3.3x Sep'22E ABV)."

1. 26 PM: Hero MotoCorp update

On Hero MotoCorp's outlook, Geojit Financial said in its note,"As expected, company benefited primarily from improved demand from the rural areas, while growth rates remained on the lower side in semi-urban and urban areas. Nonetheless, company's YTD sales figures look encouraging and should improve further with the festive season. At current price levels, the valuation looks attractive. Hence, we upgrade our rating on the stock to BUY with a revised target price of Rs. 3,345 based on 19x FY22E adj. EPS."

1. 13PM: Route Mobile hits all-time high today

Route Mobile share has become a multibagger during last 1.5 months. The stock of cloud communications service provider has tripled since September 21, its market debut date. Share of Route Mobile which stood at Rs 350 on September 21 has risen to Rs 1150 till date, delivering 228% returns to investors. The small cap stock has gained 40.02% in last six days. It opened with a gain of 5% at Rs 1,150, hitting a fresh all-time high today.

This stock turned Rs 1 lakh into Rs 3 lakh in 1.5 months, hit all-time high today

1.08 PM: Market outlook

Yash Gupta Equity Research Associate, Angel Broking said," Indian Indices Nifty and Sensex up by 120 points (1.03%) and 417 points (1.06%) respectively. Indian Indices opens higher on back of positive clues from global market.Today S&P BSE Finance (up 2.17%) Financial continue to outperform the Indices, S&P BSE METAL (up 1.55%) while S&P BSE REALTY (down 1.87%), S&P BSE Telecom (down 0.27%). We expect the market to trade in range bound and expect some volatility on the back of global market as this week elections are there in the USA. Global Market update - DOW Jones up by 423 points (up 1.60%) and NASDAQ up by 46 points (up 0.42%)."  

12.54 PM: DCB Bank outlook

Keshav Lahoti-Associate Equity Analyst, Angel Broking said," For FY21, we increase our NII est. but due to shift in stress recognition we lower/raise our FY21/22E provisions est. by 1.8%/4.1% resulting in FY21/22E PAT revision by 8.3%/-6.2%. Granularity in loans/deposits has been trending well though collections are a key. We retain BUY but revise our multiple/TP to 1.0x FY22 ABV/Rs114 (vs 1.2x/Rs131). Risks: higher stress."

12. 30 PM: Mastek update

Centrum Broking in its result update of Mastek - Q2FY21 said," Post recent Majeso stake sale inflow, Mastek has net cash of Rs4600mn as on 2QFY21 (19% of Mcap). We believe both UK Government vertical (35% of total revenues) and Evosys business ( 35% of total revenues) are well poised to deliver 20% YoY annual revenue growth in FY22E. Hence, with 70% of total revenues on strong footing as well as synergy and cross selling deals flowing in other verticals (Healthcare, Retail, etc), Mastek can comfortably deliver 16% USD revenue growth at consolidated level. Strong margin execution raises FCF trajectory and ROIC profile of the business.  Mastek currently trades at 10.5x FY22E EPS and 9.8x Sep22E EPS. Valuation remain cheap and we believe Mastek is the best poised small cap stock among the sector. Retain BUY."

12. 23 PM: Market outlook

Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said:

" Our market started the week marginally positive around the 11700 mark. However, Nifty corrected from the opening ticks itself due to sell-off seen in the heavyweight Reliance and almost tested the 11550 support. But it recovered gradually led by the banking space and ended the day with marginal gains at 11669.Next couple of sessions would be very crucial to determine the near term trend for the markets.  The tug-of-war between Reliance and Banking stocks restricted the Nifty from any directional move and hence, it ended with marginal gains. Now if we look at the last three sessions, Nifty has oscillated within a broad range wherein 11750 has become the resistance and 11550-11500 a sacrosanct support. As far as the support of 11500-11550 is intact, we remain hopeful of a resumption of upmove. However, traders are advised to avoid aggressive trades till there's a breakout above 11750. "

12. 10 PM: Rupee outlook

On Indian Rupee outlook, Religare Broking in its note said,"The USDINR pair appreciated by 1% last week in the November series to close at 74.6050. Rising covid cases across the globe have unnerved the investors prompting a move out of riskier assets and currencies, towards safe havens such as the US Dollar.

For the USDINR pair (November series), Trend remains positive on four hour charts as prices form higher high-higher low pattern. Any significant dip towards the short term support of 74.20 is an opportunity to go long in the counter. As a strategy, long positions can be initiated near 74.10-20 for upside targets of 74.60 and 74.80 keeping stops below 73.80."

12.05 PM: Global market update

Religare Broking in its note said," Activity in China's factory sector accelerated at the fastest pace in nearly a decade in October as domestic demand surged, adding further momentum to an economy that is quickly recovering from the coronavirus crisis.

The US Democrats and Republicans have yet to come to an agreement on the stimulus package and talks will continue. Soaring COVID-19 cases in the US and Europe post new challenges for economies.

In the week ahead, traders focus again will be on US stimulus talks and on economic data front US GDP data, home sales, consumer confidence and Chicago PMI will be closely watched."

11. 56 AM: PVR share falls over 1%

PVR share was trading lower in early trade ahead of its  Q2 earnings today. PVR stock has fallen after 2 days of consecutive gain.  PVR share declined up to 1.44% to Rs 1090 against previous close of Rs 1106.55 on BSE.

The share trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. The stock has lost 38.62% in one year and fallen 42.44% since the beginning of this year.

The share has lost 16% in one year.

PVR share falls over 1% ahead of Q2 earnings

11. 40 AM: Zydus Cadila Q2 outlook

Yash Gupta Equity Research Associate, Angel Broking said," Zydus Cadila revenue from operations for Q2FY21 stood at Rs 3762 crores up by 16% YoY from Rs 3244 crores in Q2FY20. USA business has done well for the company which is up by 18% stood at Rs 1709 crores in Q2FY21 from Rs 1448 crores in Q2FY20 while Indian business up by  11% in Q2FY20. EBITDA for the quarter was up by 13% at Rs 863 crores in Q2FY21 as compared to Rs 763.7 crores in Q2FY20. Profit before tax for the quarter rose by 336.4% at Rs 534.2 crores in Q2FY21 as compared to Rs 122.4 crores in Q2FY20. Due to one off exceptional item of 132 crores. Consolidated Profit After Tax excluding exceptional items for the quarter was Rs. 562 crores, up 73% compared to 325 crores in Q2FY20. Company has reported a very good set of numbers. Company has significantly reduced its net debt-by Rs. 2709 crores in the first six months of FY21, The net debt as on 30th September, 2020 stood at Rs. 4031 crores.

11. 36 AM: HDFC Q2 results update

Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking said," HDFC Ltd reported a good set of numbers for Q2FY21, despite Covid related disruption. AUM grew 10% & 1.6% YoY / QoQ , NII grew at 20% / 7% YoY / QoQ which is higher than AUM growth. NIM improved sequentially by 14bps to 2.76% owing to the lower cost of funds and Money raised through QIP. Core PBT was up 27% YoY on the back of a strong 20% YoY growth in NII and a marginal 3% YoY decline in expenses.

PAT declined 28% YoY owing to one of stake sale gains reported in Q2FY21. Adjusted for one of gains in Q2FY21, PAT grew at 28% YoY, led by strong core PBT and a 42% plunge in provision cost.

On the collection efficiency (CE) front, HDFC`s overall CE in the individual business was 96.3% in September 2020; 99.5% in the case of customers who had not opted for a moratorium.

We have a positive view on HDFC ltd considering the ability to raise capital at a very competitive rate and more provision than regulatory requirement provides comfort on asset quality."

11. 22AM: Bandhan Bank outlook

 Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking said," Bandhan Bank reported a moderate set of numbers for Q2FY21. AUM grew by 19.4% YoY and MFI book grew by 27% YoY (4.8% QoQ). NII grew by 26% YoY which higher than AUM growth. NIM declined by 20 BPS to 8% owing to higher liquidity. Pre-provision income grew by 24.5%. PAT declined 5.3% YoY primarily owing to escalated provision cost. On the liability front, banks continue to report strong growth, led by ~60% YoY growth in SA deposits. CASA ratio improved 533bps/115bps to 38.2%. Asset quality stable however, the correct picture emerges post Q3FY21. Collection efficiency was 89% for the micro-banking segment in September, further improved to 91% by October end. An Investor would like to watch a slippage percentage from the moratorium book and restructuring request till December end."

11.17 AM: Auto sector outlook

In its auto roundup LKP Securities said in its note,"We expect a better H2 FY21 and a stronger FY 22. However, we will remain watchful for the post festive months. On stocks, Hero Motocorp (market leader and king in the rural markets), Bajaj Auto (#1 in 2W exports markets) and Maruti Suzuki (PV market leader) will be the winners, as we believe that they being market leaders with widespread distribution network, will be best placed to increase their market shares and gain from the current situation. We also believe that M&M with its thrust on rural markets through its leadership in tractors business is one of the best investment stories. On the CVs business, we believe this sector (particularly the M&HCVs) to be the last to revive as it is plagued by several issues such as weak macros, driver unavailability, tepid industry output, lack of clarity on scrappage norms and price hikes due to BS 6."

11.00 AM: Global markets

Asian markets are trading higher ahead of Reserve Bank of Australia's interest rate decision. US elections will also weigh on investor sentiments.

Japanese markets are closed today. U.S. markets closed higher ahead of the US Presidential election which is expected to shape government's response and actions for turning around the economy.

European markets closed higher on better than expected manufacturing data which came out of Euro zone and China.

10. 54 AM: Nifty technical outlook

Geoijt Financial Services said in ts note," We had recommended yesterday to view the ongoing moves as part of a parallel consolidation, waiting for a breakout move to 11250-380. This move is now in play, but as maintained yesterday, we would look for a confirmation from 11815. Alternatively, a pull back below 11660 would rekindle fears of 11400-11200."

10. 47 AM: Market rises further

Market indices traded on a bullish note on Tuesday, amid positive global equities. Sensex gained 436 points higher at 40,194 and Nifty rose 127 points to 11,796.

10. 30 AM: Auto sector update

On the Auto sector outlook, Reliance Research said:" - Most segments witnessed MoM and YoY growth (on high base) in domestic sales volume.PVs and 2Ws witnessed a healthy double-digit growth, while Tractor volume rose by higher single-digit despite high base. Overall wholesale volume across categories were below retail volume due to supply constraints. Retail sale was supported by festive demand, positive sentiment and gradual opening of urban markets."

10. 27 AM: Market outlook

On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The markets are trading above the 11750 mark and if we can sustain that, it could be used as a stop loss for all short positions on the index. We would need to wait for more clarity before we can go long on this market. Should a buy get triggered on the upside, 12200-12300 can be expected."

10. 13 AM: Cement sector update

Reliance Research on its monthly update on the Cement sector said:" Constant improvement in labour availability, steady rural demand and visible pick-up in real estate activities in various cities aided the cement industry to record continued demand recovery. All-India average price (trade segment) recovered by 0.8% MoM (Rs3-4/bag) after four successive months of decline. As discounts/schemes were either cut or discontinued in several markets to support realization, effective price was higher than actual hike."

"Cement demand continued to witness improvement in Oct'20, as recovery in non-trade demand along with steady rural/retail demand resulted in improvement on both YoY and MoM basis. Notably, low YoY base (due to festivals) appears to have aided the demand in Oct'20. Barring few pockets, the dealers in most regions witnessed growth in sales volume. Improvement in labour availability, higher disposable income in the hands of rural population and a visible pick-up in real estate activities in several cities aided the demand scenario."

10.08 AM: Stocks to watch today on November 3

Adani Enterprises, L&T, PNB, Cadila, NTPC, Vodafone Idea among others are the top stocks to watch out for in Tuesday's trading session

Stocks in news: Adani Enterprises, L&T, PNB, Cadila, NTPC, Vodafone Idea

9. 53 AM: Bank Nifty derivative outlook

Sneha Seth (Derivatives Analyst, Angel Broking) said:

"We started-off the week with an upside gap; but, these gains were short lived as we saw decent profit booking in the initial hour to wipe-off all the early opening gains. However, 11550 once again acted as a demand zone and smart recovery brought index above 11700 mark. In last half an hour, due to some unwinding Nifty concluded the session 27 points higher. Today, we witnessed a stellar move in banking counters which supported the benchmark from the selloff seen in RELIANCE. Finally, BankNifty surpassed the hurdle around 24800 and concluded the day with the handsome gains of 4%.

In derivatives space, banking index added huge longs and short covering was seen in case of Nifty. In options front, some build-up was seen in 11800-11950 followed by unwinding in 11600 and 11700. On the flip side, writing was seen in 11300 and 11500 put strikes. Maximum open interest concentration for this weekly series is placed at 12000 call and 11000 put options. Last series, we saw good amount of longs in Nifty which has been rolled too. In case of BankNifty, we hardly saw any open interest addition series on series but today's strong upmove along with longs is a good indicating. Considering the above data points, we remain optimistic on the market and hence expect follow-up buying in coming trading session. At present, 11500-11550 is an immediate support zone; whereas, resistance is placed around 12000 mark."

9. 47 AM: NMDC Q2 result update

Yash Gupta Equity Research Associate, Angel Broking said," NMDC limited total Iron & Ore production came down by 2.4% in October 2020 from 2.49 MT in October 2019 to 2.43 MT in October 2020. Chhattisgarh production was down by 5.7% while Karnataka was up by 8.9%. Total Iron & Ore sales are also down by 3.4% in October 2020 from 2.61 MT in October 2019 to 2.52 MT in October 2020. Chhattisgarh sales are up by 1.0% while Karnataka was down by 18.6%. This are very good number for the months of October 2020 and almost numbers are back to pre covid levels. This is positive development for the company."

9. 30 AM: NTPC Q2 result update

Yash Gupta Equity Research Associate, Angel Broking said," NTPC Ltd consolidated revenue from operations for Q2FY21 stood at Rs 707 crores up by 7.8% YoY from Rs 25,708 crores in Q1FY21. Revenue from generation business has increased by 8.6% from Rs 25178 in Q2FY20 to Rs 27343 crores in Q2FY21. Profit before tax for the quarter stood at Rs 3729 crore down by 9.3% as compared to Rs 4112 Crore in Q1FY20, due to Central electricity regulation commission has directed that late payment surcharges shall apply at a reduced rate of 12% instead of normal rate of 18%. Profit after tax for the quarter stood at Rs 3088 Crore up by 7.8% as compared to Rs 2865 Crore in Q1FY20.While the company posted a good set of numbers for the quarter. Company has fixed 13th November, 2020 as the record date for the purpose of ascertaining the eligibility of shareholders for Buyback of equity shares." 

9. 22 AM: Market outlook

As per Reliance Smartmoney Reserch, NSE-NIFTY begun week on a flat to positive note. Since last three trading sessions, the index stuck between its 20-day and 50-day EMA. Overall market breadth remained negative during the day. Its key technical indicators on the near-term timeframe chart reversed from their oversold zone. As mentioned earlier, our bearish view will remain intact, but near-term rebound cannot be ruled out before the index resumes its southward journey. On the higher side, its psychological hurdle point-12,000 level will cap the up-move.

As for the day, support is placed at around 11,633 and then at 11,537 levels, while resistance is observed at 11,878 and then at 12,026 levels.

9. 10 AM: Opening session

Market indices opened on a bullish note on Tuesday, amid positive global equities. Sensex gained 376 points higher at 40,125 and Nifty rose 73 points to 11,742.

9. 00 AM: FII action

Foreign portfolio investors (FPIs) bought shares worth Rs 740.61 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 533.97 crore in the Indian equity market on 2 November, provisional data showed.

8. 50 AM:Earnings today

Investors are also awaiting Sept quarter earnings reports will provide a clear picture of the disruption caused by the coronavirus pandemic-induced lockdown. Sun Pharma, PVR, Adani Gas, Adani Ports, Muthoot Finance, Ajanta Pharma, CARE Ratings, Dabur India, Deepak Fertilisers, Dhanlaxmi Bank, Eris Lifesciences, Godrej Properties, Jagran Prakashan, JSW Energy, Kansai Nerolac Paints,  Transport Corporation of India, Varun Beverages are among the top companies to report quarter earnings.

8. 40 AM: Rupee closing

On the currency front, Indian rupee depreciated 32 paise and settled at 74.42 per dollar on Monday, tracking the mixed trend in domestic equities and a strong American currency.

8. 30 AM: Closing

After a volatile trading session, market indices closed on a positive note on Monday amid positive global equities. Erasing three days of consecutive losses, Sensex ended 143 points higher at 39,757 and Nifty gained 26 points to 11,669. On Friday, Sensex ended 135 points lower at 39,614 and Nifty fell 28 points to 11,642.

Sensex ends 143 points higher, Nifty at 11,669; ICICI Bank, IndusInd Bank, Bharti Airtel top gainers