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Share Market News Today Updates, 3 November 2022: Sensex and Nifty traded on a highly volatile note today. Share Market Updates Today: Indian equity benchmarks on Thursday extended their fall for the second straight session, dragged by technology, consumer durables, and automobile stocks. The domestic indices fell in line with broader global cues after the US Federal Reserve Chairman Jerome Powell said it was too soon to speculate over a rate hike pause. The US central bank raised interest rates by 75 basis points (bps) on Wednesday, the fourth such hike in a row, and said its battle against inflation would require borrowing costs to rise further.
Asian stocks dropped tracking an overnight decline on Wall Street. South Korea's KOSPI fell 0.55 per cent, the Shanghai Composite index fell 0.19 per cent and Hang Seng Index slumped 3.08 per cent.
US stock futures tumbled, indicating a lower opening for Wall Street today. S&P futures fell 0.47 per cent, Nasdaq futures cracked 0.53 per cent higher and Dow Futures slipped 0.34 per cent.
On the domestic front, investors awaited the Reserve Bank of India's (RBI's) Monetary Policy Committee outcome. "The MPC today was all about giving the central government comfort and visibility on the RBI's efforts to reign in inflation and bring it back closer to the target 4 per cent mark; it has consistently breached the upper tolerance threshold of 6 per cent for the last 3 quarters running," said Karan Desai, Founder - Interface Ventures.
Meanwhile, foreign institutional investors bought a net Rs 1,436 crore worth of equities on Wednesday, while domestic investors sold Rs 1,378 crore of shares, as per provisional data available with the National Stock Exchange.
Here are the share market highlights:
On the back of concerns about the US recession, IT stocks led the domestic selloff, while FII support helped limit the losses, said Vinod Nair, Head of Research at Geojit Financial Services.
The overall market breadth stood slightly positive as 1,772 shares advanced while 1,683 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 281.58 lakh crore.
Four out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty IT, Nifty Consumer Durables and Nifty Auto underperformed the NSE platform by falling as much as 1.18 per cent, 0.53 per cent and 0.42 per cent, respectively. On the flipside, Nifty Bank and Nifty FMCG rose 0.37 per cent and 0.29 per cent, each, today.
Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 rose 0.34 per cent and small-cap climbed 0.24 per cent.
On the stock-specific front, Tech Mahindra was the top Nifty loser as the stock cracked 2.60 per cent to close at Rs 1,053.90. Hindalco, PowerGrid, Eicher Motors and NTPC were also among the laggards. In contrast, SBI, Titan, UPL, Bajaj Auto and Hindustan Unilever were among the top gainers.
Sensex falls 70 points or 0.11 per cent to close at 60,836, Nifty moves 30 points or 0.17 per cent lower to settle at 18,053
Mortgage lender HDFC today reported an 18 per cent year-on-year (YoY) rise in net profit at Rs 4,454 crore for the September quarter compared with Rs 3,781 crore in the corresponding quarter last year. (Read more)
Sub-index Nifty IT fell 1.14 per cent to trade at Rs 28,805.15 during late deals.
Shares of Voltas fell 5.11 per cent to trade at 863.70. The stock hit an intraday low of Rs 862.40 today.
The initial public offering (IPO) of Fusion Micro Finance has been subscribed 20 per cent so far on the second day of subscription on Thursday. The initial share sale received bids for 42,34,840 shares against 2,13,75,525 shares on offer, according to BSE data. (Read more)
Shares of Adani Wilmar plunged nearly 3 per cent in afternoon session today after the Adani Group firm reported a 73 percent fall in net profit for the quarter ended September. Net profit slipped to Rs 49 crore against Rs 182 crore profit in the second quarter of the previous fiscal. (Read more)
Today is a busy day for the IPO market, with three IPOs namely Bikaji Foods International, Global Health and Fusion Micro Finance being opened for subscription. All the three IPOs have received 'subscribe' ratings from brokerages, but analysts prefer Bikaji Foods among the three. They also see better chances of listing gains in case of the ethnic snacks maker. (Read more)
Cosmetics-to-fashion retailer Nykaa's parent firm FSN E-Commerce Ventures on Thursday received the approval of shareholders on bonus issue, employee stock options (ESOP) and stock unit plan (RSU). (Read more)
Shares of Tata Motors DVR fell 9.31 per cent to trade at Rs 229.95. The stock hit an intraday low of Rs 224.30 today.
Shares of ITC rose 1 per cent to hit a fresh all-time high in Thursday’s trade, taking their year-to-date rise to 60 per cent. The stock hit an all-time high of Rs 358 in early trade on BSE. (Read more)
Shares of Relaxo Footwears fell after three sessions of gains today after the footwear firm reported a 67.38 per cent fall in net profit for the second quarter ended September 2022. (Read more)
Sensex slips 137 points or 0.23 per cent to trade at 60,769, Nifty moves 38 points or 0.21 per cent lower to trade at 18,045; Tech Mahindra, Hindalco, PowerGrid, NTPC, M&M among top drags
Shares of Hindalco Industries fell 2.03 per cent to trade at Rs 412.50. The stock hit an intraday low of Rs 410.25 today.
Shares of IFCI fell 5.09 per cent to trade at 11.37. The stock hit an intraday low of Rs 11.26.
Sensex down 26 points or 0.04 per cent to trade at 60,880, Nifty moves 12 points or 0.07 per cent lower to trade at 18,071; Tech Mahindra, Hindalco, NTPC, TCS, M&M among top drags
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