Informist, Tuesday, Nov 2, 2021
By Abhishek Saini and Vivek Kumar
MUMBAI -Domestic headline indices ended marginally down today, indicating the caution among investors ahead of the US Federal Reserve's monetary policy meeting. As a result, the focus was largely on corporate earnings, which kept the action stock-specific.
The benchmark indices had opened higher today, extending their gains from Monday and in the process, the Nifty 50 also briefly surpassed 18000-points mark. However, the index soon shed gains. Nifty 50 and Sensex ended 0.2% lower at 17888.95 points and 60029.06 points, respectively.
With benchmark indices moving in a narrow range and stocks witnessing noticeable traction, the focus should be on identifying the sectors/themes which are playing out well, said Ajit Mishra, vice president - research, Religare Broking.
While more than 50% of the Nifty 50 constituents ended in the red, heavyweight Reliance Industries caused most of the losses in the index, as the stock fell 1.5%. The price of Jio's fourth-generation smartphone fell short of expectations, as analysts believe that cashback offers by rival Bharti Airtel are more lucrative.
Gains in automobile and financial services companies were offset by shares of index heavyweight Reliance Industries and metal companies.
After witnessing a sharp upmove on Monday, shares of metal companies again fell today. Hindalco Industries, Steel Authority of India, JSW Steel and Tata Steel fell 2-4%.
Consequently, the Nifty Metal index shed 1.6% and was one of the worst hit sectoral indices on the National Stock Exchange.
On the other hand, shares of jewellery companies rose amid hopes of strong demand on the occasion of Dhanteras today. Shares of Kalyan Jewellers India, Titan Co, Vaibhav Global and Goldiam International rose 1-5%.
Among other stocks, Sun Pharmaceutical Industries recovered from 3% losses in the day and ended with 0.4% gains as the company reported better-than-expected earnings for Jul-Sep.
Tata Motors, which had risen 5% intraday on the back of a strong demand outlook from the company, ended sharply off highs. The company's consolidated net loss widened sharply during the quarter and came in below analysts' estimates.
While the benchmark indices erased their day's gains and closed marginally lower, the broader market witnessed good buying. The small-cap and mid-cap indices on NSE ended 0.8-1.2% higher, extending gains from Monday.
Strong earnings drove gains in KPIT Technologies, La Opala Rg, The Phoenix Mills and Union Bank of India, while Bajaj Consumer Care, Bayer Cropscience, SeQuent Scientific, Alkyl Amines Chemicals and Advanced Enzyme Technologies fell.
* Among Nifty 50 stocks, 22 rose and 28 fell
* Among Sensex stocks, 14 rose and 16 fell
* On the NSE, 1280 stocks rose, 702 fell and 77 were unchanged
* On the BSE, 1961 stocks rose, 1293 fell and 147 were unchanged
* Nifty Realty: Up 3.4%; Nifty Bank: Up 0.4%; Nifty Pharma: Down 0.4%
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BSE National Stock Exchange
Sensex: 60029.06, down 109.40 pts (0.2%) Nifty 50: 17888.95, down 40.70 pts (0.2%)
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S&P BSE Sensitive Index Nifty 50
Lifetime High:62245.43 (Oct 19) : Lifetime High: 18604.45 (Oct 19)
Record Close High: 61765.59 (Oct 18) : Record Close High: 18477.05 (Oct 18)
2021 1st day close: 47868.98 (Jan 1) : 2021 1st day close: 14018.5 (Jan 1)
2021 Closing High: 61765.59 (Oct 18) : 2021 Closing High: 18477.05 (Oct 18)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 62245.43 (Oct 19) : 2021 High (intraday): 18604.45 (Oct 19)
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 Pranav S. Joshi
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