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Share Market News Today Updates, 17 October 2022: Sensex and Nifty traded on a volatile note today. Share Market Updates Today: Indian equity benchmarks traded higher on Monday, extending their winning run for the second straight session as gains in banking shares countered losses in metal stocks. Asian shares turned mixed after a lower opening amid heightened nervousness over the US Federal Reserve's aggressive rate hike path.
Back home, foreign institutional investors sold net Rs 1,011 crore worth of equities on Friday, while domestic investors bought Rs 1,624 crore worth of shares, as per provisional data available with the National Stock Exchange.
The benchmark BSE Sensex closed 491 points or 0.85 per cent higher at 58,411 today, while the broader NSE Nifty moved 126 points or 0.73 per cent higher to settle at 17,312.
Here are the share market highlights:
The Bank Nifty index remains in buy mode with strong support at the 39,000-38,800 zone, said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. "The immediate upside hurdle is visible at 40,000 where the highest open interest is built up on the call side and once breached will see a short covering towards 41,000-41,500 levels," he added.
Markets have made several attempts to move higher in the recent past but a lack of sustainability on the global front has derailed all the attempts, said Ajit Mishra, VP - Research, Religare Broking Ltd. "We thus recommend waiting for further clarity and limiting positions in the meanwhile. The banking and financial pack look strongest to us while others are seeing a mixed trend. Participants should align their positions accordingly," he added.
The overall market breadth stood negative as 1,612 shares advanced while 1,922 declined on BSE. The market capitalization (m-cap) of BSE-listed companies rose to Rs 271.82 lakh crore.
12 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty Bank and Nifty Financial Services outperformed the NSE platform by rising as much as 1.56 per cent and 1.15 per cent, respectively. On the flipside, Nifty Metal fell 0.97 per cent today.
Mid- and small-cap shares finished on a positive note as Nifty Midcap 100 edged 0.16 per cent higher and small-cap rose 0.45 per cent.
On the stock-specific front, SBI was the top Nifty gainer as the stock soared 3.03 per cent to close at Rs 543.20. Bajaj Finserv, Axis Bank, NTPC and ICICI Bank were also among the gainers. In contrast, Hindalco, L&T, JSW Steel, HCL Technologies and Britannia Industries were among the top laggards.
Sensex surges 491 points or 0.85 per cent to close at 58,411, Nifty moves 126 points or 0.73 per cent higher to settle at 17,312
Sensex surges 504 points or 0.87 per cent to trade at 58,424, Nifty moves 137 points or 0.80 per cent higher to trade at 17,322
Shares of Larsen $ Toubro (L&T) fell 1.15 per cent to trade at Rs 1,889.10 in late deals.
Shares of Deepak Fertilisers soared 7.84 per cent to trade at Rs 965 in late afternoon deals.
The overall market breadth stood slightly weak as 1,530 shares were seen advancing while 1,865 were declining on BSE.
Sensex surges 420 points or 0.73 per cent to trade at 58,340, Nifty moves 115 points or 0.67 per cent higher to trade at 17,301; SBI, ICICI Bank, Bajaj Auto among top gainers
Shares of IRB Infrastructure Developers surged 9 per cent to trade at Rs 235.55 in afternoon trade.
RIL shares are trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. RIL stock has lost 12.4 per cent in one year and lost 0.13 per cent since the beginning of this year. (Read more)
Shares of Suzlon Energy rose 6.27 per cent to trade at Rs 7.12 in late morning deals.
Shares of Dilip Buildcon jumped 4 per cent in today's trade after the company said it has received letter of acceptance (LOA) for an order worth Rs 702.02 crore.
Electronics Mart India Limited today debuted at Rs 90, a 53 per cent premium over its issue price. "The company faces significant competition from players like Reliance Retail, Croma, etc. Therefore, we advise investors to lock in listing gains and only aggressive investors should consider making a long-term commitment to the company. Those who applied for listing gains can maintain a stop loss of Rs 77," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Sensex rises 276 points or 0.48 per cent to trade at 58,196, Nifty moves 66 points or 0.39 per cent higher to trade at 17,252; Bajaj Auto, SBI, ICICI Bank among top gainers
Shares of State Bank of India (SBI) jumped 2.18 per cent to trade at Rs 538.55.
Sensex rises 120 points or 0.21 per cent to trade at 58,040, Nifty moves 39 points or 0.23 per cent higher to trade at 17,224
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