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Share Market Highlights Today: Sensex slips 391 points, Nifty settles below 17,050; Wipro, Adani Ports, SBI among top drags

Business Today Desk Oct 13, 2022, Updated Oct 13, 2022, 4:30 PM IST

Stock Market News Today Highlights: Sensex and Nifty plunged today after government data showed that retail inflation spiked to a five-month high in September, stoking fears of further rate hikes by the Reserve Bank of India (RBI). Consumer price-based inflation accelerated in September to 7.41 per cent, year-on-year (yoy), as food prices surged.

Share Market News Today Updates, 13 October 2022: Sensex and Nifty settled on a lower note today. Share Market News Today Updates, 13 October 2022: Sensex and Nifty settled on a lower note today.

Share Market Updates Today: Indian equity benchmarks plunged on Thursday after government data showed that retail inflation spiked to a five-month high in September, stoking fears of further rate hikes by the Reserve Bank of India (RBI). Consumer price-based inflation accelerated in September to 7.41 per cent, year-on-year (yoy), as food prices surged. Market participants also awaited quarterly (Q2) results of IT firm Infosys, to be announced later in the day. Wipro, Adani Ports, SBI, SBI Life and ICICI Bank were among the top losers on the NSE platform with their shares down as much as 6.95 per cent. In contrast, HCL Tech, Sun Pharma, Coal India, Dr Reddy's and Tata Motors were among the top gainers.

 

Asian stocks, in sync with an overnight decline on Wall Street, remained depressed today ahead of the US inflation print for cues on further rate hikes. However, S&P futures rose 0.45 per cent, while Nasdaq futures moved 0.25 per cent higher, and Dow futures rose 0.45 per cent, indicating a slightly higher start for Wall Street. 

 

Here are the share market highlights:

4:25 PM (3 months ago)

Infosys Q2 results: Profit rises 11%; board okays Rs 9,300 crore share buyback

Posted by :- prashun talukdar

Infosys today reported an 11.10 per cent year-on-year (YoY) rise in consolidated net profit at Rs 6,021 crore in September quarter compared with Rs 5,421 crore in the corresponding quarter last year. Along with the quarterly results, the IT major announced a Rs 9,300 crore in share buyback. (Read more)

4:24 PM (3 months ago)

Nifty outlook

Posted by :- prashun talukdar

Nifty is consistently taking support near the 200-day SMA (Simple Moving Average) or 16,950 while facing strong resistance at 17,150, said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. A sharp correction wave is possible if the index trades below 16,950 and on further decline, it could slip till 16,800-16,700, he added.

3:54 PM (3 months ago)

Inflation plays spoilsport

Posted by :- prashun talukdar

Retail inflation persisting above the desired levels has been a major cause of concern for the Indian economy, said said Vinod Nair, Head of Research at Geojit Financial Services. "This, coupled with declining industrial production in August may not be taken well by the market because Indian economy is anticipated to sustain its resilience. In this backdrop, the impending US inflation figures, which are forecasted to remain high, may cause volatility in the global market," he added.

3:52 PM (3 months ago)

Share market breadth

Posted by :- prashun talukdar

The overall market breadth stood negative as 1,303 shares advanced while 2,128 declined on BSE. The market capitalization (m-cap) of BSE-listed companies fell to Rs 269.89 lakh crore.

3:48 PM (3 months ago)

Nifty Financial Services down 1.27%

Posted by :- prashun talukdar

11 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty Financial Services, Nifty Bank and Nifty Consumer Durables underperformed the NSE platform by falling as much as 1.27 per cent, 1.26 per cent and 0.80 per cent, respectively. On the flipside, Nifty Pharma and Nifty Metal rose 0.22 per cent and 0.11 per cent, each, today.

3:45 PM (3 months ago)

Mid and small-cap stocks

Posted by :- prashun talukdar

Mid- and small-cap shares finished on a lower note as Nifty Midcap 100 fell 0.69 per cent and small-cap shed 0.50 per cent.

3:44 PM (3 months ago)

Top gainers & losers on NSE

Posted by :- prashun talukdar

On the stock-specific front, Wipro was the top Nifty loser as the stock cracked 6.95 per cent to close at Rs 379.60. Adani Ports, SBI, SBI Life and ICICI Bank were also among the gainers. In contrast, HCL Technologies, Sun Pharma, Coal India, Dr Reddy's and Tata Motors were among the top gainers.

3:34 PM (3 months ago)

Share market closing

Posted by :- prashun talukdar

Sensex slips 391 points or 0.68 per cent to close at 57,235, Nifty moves 109 points or 0.64 per cent lower to settle at 17,014

3:27 PM (3 months ago)

Rupee vs Dollar

Posted by :- prashun talukdar

The Indian rupee traded an extremely narrow range for the second day ahead of US consumer inflation data to gauge the next leg of direction, said NS Ramaswamy, Head of Commodities, Ventura Securities. The pair could trigger major gap-up or gap-down if there is a major change in US data, he added.

3:09 PM (3 months ago)

'Invest in inflation-hedged assets'

Posted by :- prashun talukdar

As inflation still remains a matter of uncertainty, it's advisable to invest in inflation-hedged assets like commodities and cyclical stocks of FMCG as they generally gives good returns when prices are higher, said Ravi Singh, Vice-President and Head of Research, Share India Securities.

2:52 PM (3 months ago)

Tanla Platforms stock zooms 11% after board fixes record date for share buyback

Posted by :- prashun talukdar

Shares of Tanla Platforms gained 11 per cent today after board of the firm fixed the record date for the purpose of determining the entitlement and names of shareholders, who will be eligible to participate in the proposed buyback. On September 8, 2022, the board of the firm approved buyback of shares at a price of Rs 1,200. Tanla Platforms stock gained 11.17 per cent to Rs 871.17 against the previous close of Rs 784.10 on BSE. (Read more)

2:43 PM (3 months ago)

Axis Bank, Eicher Motors & Apollo Tyres among ICICIdirect's 10 top Diwali picks

Posted by :- prashun talukdar

In the midst of volatility in stock markets globally, domestic stocks have relatively outperformed peers by a good margin in the last one year. (Read more)

2:11 PM (3 months ago)

Who owns the Indian stock exchanges?

Posted by :- prashun talukdar

Life Insurance Corporation of India or LIC is the largest institutional investor in the Indian stock market with stakes in many listed entities. But the insurance behemoth is a shareholder not only in the listed entities but also owns a sizeable stake in the platforms – stock exchanges, to be precise – on which the companies are listed. (Read more)

1:46 PM (3 months ago)

Share market update: Sensex down over 450 points, Nifty below 17,000

Posted by :- prashun talukdar

Sensex tanks 460 points or 0.80 per cent to trade at 57,166, Nifty moves 130 points or 0.76 per cent lower to trade at 16,994; Wipro, Adani Ports, SBI, L&T, ICICI Bank among top drags

12:57 PM (3 months ago)

Will this stock double your money? Latest target price shows up to 100% upside for newly listed firm

Posted by :- prashun talukdar

PB Fintech, the operator of Policybazaar, will complete its first year of listing on bourses next month. After a robust debut on the stock exchanges during the third quarter of FY22, shares of the company have tanked over 60 per cent to Rs 455 in the morning trade on October 13, 2022 against the listing price of Rs 1,150. (Read more)

12:33 PM (3 months ago)

SEBI has made crucial changes to how IPOs are approved. What are they?

Posted by :- prashun talukdar

Talk about good timing. At a time when more than 70 companies are in the pipeline to enter the stock markets through initial public offerings (IPOs), capital markets regulator Securities & Exchange Board of India (SEBI) has announced key measures to encourage more IPOs. (Read more)

12:28 PM (3 months ago)

JP Associates slips over 4% after hitting 52-week high recently, here's why

Posted by :- prashun talukdar

Shares of Jaiprakash (JP) Associates fell more than 4 per cent in Thursday's intraday deals as the company didn't disclose any further details about its move to divest cement business. The stock cracked 4.14 per cent to trade at Rs 11.35 during in morning deals today. It declined as much as 5.24 per cent to hit a day's low of Rs 11.22 on BSE. (Read more)

11:54 AM (3 months ago)

Indian Metals & Ferro Alloys

Posted by :- prashun talukdar

Seasoned investor Mukul Mahavir Agrawal stayed put on Indian Metals & Ferro Alloys in the September quarter, latest shareholding pattern suggests. Agrawal held 7,78,900 shares or 1.44 per cent stake in this company as of September 30, the same as June quarter. This is even as the scrip has fallen 51.44 per cent from its 52-week high of Rs 514.

 

On Thursday, the scrip was trading 0.48 per cent lower at Rs 249.55. At a market capitalisation of Rs 1,346.42 crore, Agrawal's holding in the company is worth Rs 19.40 crore, as per data publicly available with Trendlyne.

11:42 AM (3 months ago)

JP Associates down 4%

Posted by :- prashun talukdar

Shares of JP Associates cracked 4.14 per cent to trade at Rs 11.35 in late morning deals.

11:31 AM (3 months ago)

Share market update: Sensex falls over 400 points, Nifty tests 17,000

Posted by :- prashun talukdar

Sensex tanks 408 points or 0.71 per cent to trade at 57,218 in late morning deals, Nifty moves 120 points or 0.70 per cent lower to trade at 17,003; Wipro, Adani Ports, SBI Life, L&T, SBI among top drags