Informist, Friday, Oct 7, 2022

By Joe Milton

MUMBAI – Domestic equity indices recouped most losses from the day's low led by gains in Reliance Industries and Titan Co.

Investor refrained from placing aggressive bets ahead of the crucial non-farm payroll report from the US for September later today which limited the upside for the headline indices. 

The employment report is one of the data the US Federal Reserve closely watches before deciding its further course of action.

Economists predict employers would have added 250,000 jobs in September compared to 315,000 jobs created in August, media reports said. 

"Global markets, especially the US, are still not offering indications for a sustained recovery, so volatility is here to stay and participants should plan overnight positions accordingly," said Ajit Mishra, vice president-research, Religare Broking. 

Today, shares of Titan Co surged 6% after the company reported 18% year-on-year jump in sales volume in the September quarter led by the jewellery division. 

Kotak Institutional Equities had recently raised 2022-23 (Apr-Mar) earnings estimate of Titan Co's jewellery growth estimate to 32%. 
 

"Given that the company is gearing up for 20% year-on-year growth in the upcoming festive season, further upgrades to our estimates are imminent," the brokerage said. Shares of Titan Co closed 5.3% higher at 2,730.50 rupees. 

Shares of Reliance Industries gained for the third consecutive session today. The stock closed 0.4% higher which also helped the headline indices to come off lows. 

The Nifty 50 index touched an intraday low of 17216.95 points, but managed to sharply come off lows and close 0.1% lower at 17314.65 points. 

Correspondingly, Sensex closed at 58191.29 points, down 0.1%, after touching an intraday high and low of 58269.34 and 57851.15 points, respectively. 

Both the topline indices ended the volatile week with 1.3% gains. 

The Nifty 50 index managed to sustain above its immediate support of 17200 points today. On the upside, analysts expect the index to face resistance at 17500 points in coming sessions. 

Among others, Kalyan Jewellers gained over 5% after the company reported a strong revenue growth in Jul-Sep. The stock closed 2.3% higher at 101.75 rupees. 

"We expect the demand to be robust in the second half of the current financial year led by strong buying occasions such as Navratri coupled with wedding season," said Centrum Broking. 
 

Shares of information technology companies fell and the Nifty IT index was the worst hit among sectors. Concerns over global economic downturn and caution ahead of the earnings season weighed on the sentiment. 

Tata Consultancy Services closed 1.2% lower ahead of its September quarter earnings on Monday. 

In the broader market, small-cap stocks fared better compared to the mid-cap names. Nifty Smallcap 100 index closed 0.2% higher, while Nifty Midcap 100 index ended 0.2% lower.

* Among Nifty 50 stocks, 21 rose, 29 declined

* Among Sensex stocks, 13 rose, 17 declined

* On the BSE, 1,934 stocks rose, 1,509 declined, and 110 were unchanged

* Nifty Infrastructure: Up 0.36%; Nifty Auto: Down 0.18%; Nifty Bank: Up 0.27%

BSE                                                 National Stock Exchange
Sensex: 58191.29, down 30.81 pts (0.1%)             Nifty 50: 17314.65, down 17.15 pts (0.10%) 

S&P BSE Sensitive Index                             Nifty 50
Lifetime High: 62245.43 (Oct 19, 2021)           :  Lifetime High: 18604.45 (Oct 19, 2021)
Record Close High: 61765.59 (Oct 18, 2021)       :  Record Close High: 18477.05 (Oct 18, 2021)

2022 1st day close: 59183.22 (Jan 3)             :  2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17)             :  2022 Closing High: 18308.10 (Jan 17) 
2022 Closing Low: 51360.42 (Jun 17)              :  2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 61385.48 (Jan 17)          :  2022 High (intraday): 18321.55 (Jan 17)

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 Maheswaran Parameswaran

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2022. All rights reserved.

Informist, Friday, Oct 7, 2022

By Joe Milton

MUMBAI – Domestic equity indices recouped most losses from the day's low led by gains in Reliance Industries and Titan Co.

Investor refrained from placing aggressive bets ahead of the crucial non-farm payroll report from the US for September later today which limited the upside for the headline indices. 

The employment report is one of the data the US Federal Reserve closely watches before deciding its further course of action.

Economists predict employers would have added 250,000 jobs in September compared to 315,000 jobs created in August, media reports said. 

"Global markets, especially the US, are still not offering indications for a sustained recovery, so volatility is here to stay and participants should plan overnight positions accordingly," said Ajit Mishra, vice president-research, Religare Broking. 

Today, shares of Titan Co surged 6% after the company reported 18% year-on-year jump in sales volume in the September quarter led by the jewellery division. 

Kotak Institutional Equities had recently raised 2022-23 (Apr-Mar) earnings estimate of Titan Co's jewellery growth estimate to 32%. 
 

"Given that the company is gearing up for 20% year-on-year growth in the upcoming festive season, further upgrades to our estimates are imminent," the brokerage said. Shares of Titan Co closed 5.3% higher at 2,730.50 rupees. 

Shares of Reliance Industries gained for the third consecutive session today. The stock closed 0.4% higher which also helped the headline indices to come off lows. 

The Nifty 50 index touched an intraday low of 17216.95 points, but managed to sharply come off lows and close 0.1% lower at 17314.65 points. 

Correspondingly, Sensex closed at 58191.29 points, down 0.1%, after touching an intraday high and low of 58269.34 and 57851.15 points, respectively. 

Both the topline indices ended the volatile week with 1.3% gains. 

The Nifty 50 index managed to sustain above its immediate support of 17200 points today. On the upside, analysts expect the index to face resistance at 17500 points in coming sessions. 

Among others, Kalyan Jewellers gained over 5% after the company reported a strong revenue growth in Jul-Sep. The stock closed 2.3% higher at 101.75 rupees. 

"We expect the demand to be robust in the second half of the current financial year led by strong buying occasions such as Navratri coupled with wedding season," said Centrum Broking. 
 

Shares of information technology companies fell and the Nifty IT index was the worst hit among sectors. Concerns over global economic downturn and caution ahead of the earnings season weighed on the sentiment. 

Tata Consultancy Services closed 1.2% lower ahead of its September quarter earnings on Monday. 

In the broader market, small-cap stocks fared better compared to the mid-cap names. Nifty Smallcap 100 index closed 0.2% higher, while Nifty Midcap 100 index ended 0.2% lower.

* Among Nifty 50 stocks, 21 rose, 29 declined

* Among Sensex stocks, 13 rose, 17 declined

* On the BSE, 1,934 stocks rose, 1,509 declined, and 110 were unchanged

* Nifty Infrastructure: Up 0.36%; Nifty Auto: Down 0.18%; Nifty Bank: Up 0.27%

BSE                                                 National Stock Exchange
Sensex: 58191.29, down 30.81 pts (0.1%)             Nifty 50: 17314.65, down 17.15 pts (0.10%) 

S&P BSE Sensitive Index                             Nifty 50
Lifetime High: 62245.43 (Oct 19, 2021)           :  Lifetime High: 18604.45 (Oct 19, 2021)
Record Close High: 61765.59 (Oct 18, 2021)       :  Record Close High: 18477.05 (Oct 18, 2021)

2022 1st day close: 59183.22 (Jan 3)             :  2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17)             :  2022 Closing High: 18308.10 (Jan 17) 
2022 Closing Low: 51360.42 (Jun 17)              :  2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 61385.48 (Jan 17)          :  2022 High (intraday): 18321.55 (Jan 17)

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 Maheswaran Parameswaran

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2022. All rights reserved.