Informist, Thursday, Nov 3, 2022

By Vivek Kumar

MUMBAI – Domestic equities shrugged off the weakness in global equities and ended a tad lower today, with the Nifty 50 holding above 18000 points mark, even as the US Federal Reserve gave a mixed signal on future rate hikes. 

Indian equities outperforming global markets was not a surprise as experts had said that domestic markets may see less selling in case of any negative triggers from the US Fed.

The strong earnings from some domestic companies and a healthy economy also aided domestic sentiment.

The benchmark 50-stock index closed 0.2% lower at 18052.70 points today, and the Sensex closed 0.1% lower at 60836.41 points.

Meanwhile, other key indices in Asia ended 0.3-3.1% lower today.

The Fed raised the key interest rate by 75 basis points and said it was premature to pause the hike cycle just yet. However, Chair Jerome Powell also indicated that rate hikes, going ahead, could be of a smaller quantum as the central bank would keep in mind the effect of cumulative rate hikes taken so far.

The Fed's mixed signals could, however, hinder foreign fund flows into domestic equities, which in turn may limit the upside for benchmark indices in the near term.

"The risks from higher interest rates from the US is quiet high. Therefore, we do not expect much upside in the market right now," said Rohit Srivastava, market strategist at Indiacharts.com.

Among sectors, the Nifty IT index closed over 1% lower than its previous close and was the worst hit sectoral index in the market.

Bucking the trend, Nifty PSU Bank jumped 2.5% with State Bank of India closing nearly 2% higher and hitting a lifetime high. The bank is scheduled to release its Jul-Sep earnings on Saturday.

The PSU banks' index outperformed the Nifty Private Bank index, which rose only 0.3%.

Among specific stocks, Housing Development Finance Corp ended 0.7% lower after its earnings for the quarter ended September were largely in line with expectations. The stock initially came off lows after the earnings, but soon gave up the gains.

* Among Nifty 50 stocks, 26 rose, 23 fell and 1 was unchanged

* Among Sensex stocks, 15 rose and 15 fell 

* On the BSE, 1,679 stocks rose, 1,780 fell, and 125 were unchanged

* Nifty PSU Bank: Up 2.5%; Nifty Realty: Up 0.6%; Nifty Media: Up 0.2%

BSE                                                 National Stock Exchange
Sensex: 60836.41, down 69.68 pts (0.1%)             Nifty 50: 18052.70, down 30.15 pts (0.2%) 

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

With inputs from Neeshita Beura

Edited by Aditya Sakorkar

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, Thursday, Nov 3, 2022

By Vivek Kumar

MUMBAI – Domestic equities shrugged off the weakness in global equities and ended a tad lower today, with the Nifty 50 holding above 18000 points mark, even as the US Federal Reserve gave a mixed signal on future rate hikes. 

Indian equities outperforming global markets was not a surprise as experts had said that domestic markets may see less selling in case of any negative triggers from the US Fed.

The strong earnings from some domestic companies and a healthy economy also aided domestic sentiment.

The benchmark 50-stock index closed 0.2% lower at 18052.70 points today, and the Sensex closed 0.1% lower at 60836.41 points.

Meanwhile, other key indices in Asia ended 0.3-3.1% lower today.

The Fed raised the key interest rate by 75 basis points and said it was premature to pause the hike cycle just yet. However, Chair Jerome Powell also indicated that rate hikes, going ahead, could be of a smaller quantum as the central bank would keep in mind the effect of cumulative rate hikes taken so far.

The Fed's mixed signals could, however, hinder foreign fund flows into domestic equities, which in turn may limit the upside for benchmark indices in the near term.

"The risks from higher interest rates from the US is quiet high. Therefore, we do not expect much upside in the market right now," said Rohit Srivastava, market strategist at Indiacharts.com.

Among sectors, the Nifty IT index closed over 1% lower than its previous close and was the worst hit sectoral index in the market.

Bucking the trend, Nifty PSU Bank jumped 2.5% with State Bank of India closing nearly 2% higher and hitting a lifetime high. The bank is scheduled to release its Jul-Sep earnings on Saturday.

The PSU banks' index outperformed the Nifty Private Bank index, which rose only 0.3%.

Among specific stocks, Housing Development Finance Corp ended 0.7% lower after its earnings for the quarter ended September were largely in line with expectations. The stock initially came off lows after the earnings, but soon gave up the gains.

* Among Nifty 50 stocks, 26 rose, 23 fell and 1 was unchanged

* Among Sensex stocks, 15 rose and 15 fell 

* On the BSE, 1,679 stocks rose, 1,780 fell, and 125 were unchanged

* Nifty PSU Bank: Up 2.5%; Nifty Realty: Up 0.6%; Nifty Media: Up 0.2%

BSE                                                 National Stock Exchange
Sensex: 60836.41, down 69.68 pts (0.1%)             Nifty 50: 18052.70, down 30.15 pts (0.2%) 

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

With inputs from Neeshita Beura

Edited by Aditya Sakorkar

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.