The stock market indices opened on a positive note with the Sensex at a record high on October 13 despite weak global cues.
After touching a record of 60,621.72, the 30-share Sensex was trading 261.17 points or 0.43 per cent higher at 60,545.48. Similarly, the Nifty surged 97.75 points or 0.54 per cent to a new intra-day peak of 18,089.70.
At 09:16 AM, the Sensex was up 201.01 points or 0.33% at 60485.32, and the Nifty was up 82.50 points or 0.46% at 18074.50. About 1480 shares have advanced, 407 shares declined, and 74 shares are unchanged.
M&M was the top gainer in the Sensex pack, rallying over 3 per cent, followed by PowerGrid, Bharti Airtel, L&T, ICICI Bank and Axis Bank.
On the other hand, Nestle India, HUL, HCL Tech, SBI and Tata Steel were among the laggards.
Tata Motors, M&M, Titan Company, Divis Labs and Power Grid Corp were among major gainers, while losers were Tata Steel, ONGC, Hindalco, Eicher Motors and Maruti Suzuki on the Nifty.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 278.32 crore on Tuesday, as per exchange data.
At close on Tuesday (October 12), the Sensex was up 148.53 points or 0.25 perent at 60,284.31. The Nifty was up 46.00 points or 0.26 percent at 17,992.00.Nifty rose for the fourth consecutive session on Oct 12 after a weak morning session. At close the Nifty was up 0.26 percent or 46 points to 17992.
Nifty has closed at the highest-ever---closer to 18,000 levels. Advance decline ratio improved as the day progressed to above 1:1. The upward momentum could continue with some intermittent profit taking. Subdued sentiments in the global markets could however slow this momentum, said Jasani.
US stocks finish lower on Tuesday
US stocks finished lower on Tuesday, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market.
The Dow Jones Industrial Average fell 117.72 points, or 0.34%, to 34,378.34, the S&P 500 lost 10.54 points, or 0.24%, to 4,350.65 and the Nasdaq Composite dropped 20.28 points, or 0.14%, to 14,465.93.
Asian indices trade mixed
Asian indices were trading mixed with Straits Times and Kospi gaining 1 percent each, while Taiwan Weighted and Shanghai Composite are trading flat.
Indian economy contracts by 7.3%
India's economy, which contracted by 7.3 percent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund on Tuesday.
As the low base effect slowly wears off, industrial production in India continued to stabilise in August, expanded by 11.9 percent year-on-year (YoY) in August, rising slightly from 11.4 percent in July.
CPI inflation for September at 4.35% in against 4.30 in August
The Consumer Price Index-based (CPI) inflation for September 2021 came in at 4.35 percent, compared with 5.30 percent in August, data released by the National Statistical Office (NSO) showed on October 12. This is the lowest retail inflation print since April 2021.
The fall in headline retail inflation was primarily on the back of a sharp cooling in food inflation. Consumer Food Price Inflation (CFPI) for September stood at 0.68 percent in September, compared with 3.11 percent in August.
Domestic flights allowed to operate at full capacity
Domestic flights will be allowed to operate at full capacity from October 18, the government said in an order issued on October 12.
"After review of the current status of Scheduled Domestic Operations viz-a-viz passenger demand for air travel", it has been decided to "restore the scheduled domestic air operations with effect from 18-10-2021 without any capacity restriction," the ministry stated.
PE firm TPG Group to invest in Tata Motors' EV subsidiary
Tata Motors on October 12 announced that private equity firm TPG Group would be investing Rs 7,500 crore in its new wholly-owned electric vehicle subsidiary.
The investment would be made in tranches, over a period of 18 months from the date of completion of the first tranche.
RBI announces cancellation of licences of 6 NBFCs
The Reserve Bank of India (RBI) on October 12 announced the cancellation of registration (licenses) of six NBFCs.
The list includes names such as Cartel Finance and Investments Private Limited, Alamgir Motor Finance Limited, Nau-Nidh Finance Limited, Kim Investment Limited, Sambandh Finserve Private Limited, and BTL HoldingCompany Limited.
RBI issues SFB licence to consortium
The Reserve Bank of India (RBI) on October 12 issued a small finance bank licence to the consortium of Centrum Financial Services Limited (Centrum), and Resilient Innovations Private Limited (BharatPe), Centrum said in an exchange filing.
The new entity will take over the assets and liabilities of Punjab and Maharashtra Co-operative Bank. Centrum’s MSME and Micro Finance businesses will be merged into Unity Small Finance Bank.
Results on October 13
Infosys, Wipro, Mindtree, Advik Laboratories, Aditya Birla Money, Morarka Finance, National Standard, Perfect-Octave Media Projects, Plastiblends India, Raghav Productivity Enhancers, SDC Techmedia, Sanathnagar Enterprises, Stratmont Industries, and Unistar Multimedia will release quarterly earnings on October 13.
Stocks under F&O ban on NSE
Seven stocks - Bank of Baroda, Indiabulls Housing Finance, IRCTC, NALCO, Punjab National Bank, SAIL, and Sun TV Network - are under the F&O ban for October 13. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
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