MARKETS: Sensex slips 100pts, Nifty near 17,850; Sun Pharma down 3%

Markets at NOON

LIVE market updates: The key benchmark indices were off the day’s high amid selective profit-taking. The BSE Sensex was up 105 points at 60,274, and the NSE Nifty had added 81 points to 17,970.

Larsen & Toubro has extended gains, and was up nearly 5 per cent at Rs 1,905. Tech Mahindra, UltraTech Cement, HCL Technologies and Infosys were the other lead gainers in the Sensex 30 pack. Whereas, Sun Pharma had slipped over 2 per cent. Titan and IndusInd Bank were down around a per cent each.

In the broader markets, Keynote Financial Services was locked at the 20 per cent upper limit. Salzer Electronics, Mazagaon Docks, Shiva Mills, Ind-Swift Labs, eClerx, Linc Pens, Shankara Buildings and Garden Reach Shipbuilders were the major gainers, up over 8 per cent each.

On the other hand, Bharat Gears tumbled nearly 11 per cent. Bajaj Healthcare, Sundaram Fasteners and Sangam (India) were the prominent losers.

Meanwhile in Asia, Hang Seng was down a per cent, and Kospi dropped 1.3 per cent. China’s Shanghai Composite and the Straits Times were down 0.3 per cent each. The S&P/ASX200 gained 0.9 per cent, and Taiwan Weighted index added 0.3 per cent.

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Markets at 11 AM

LIVE market updates: The key benchmark indices were off the early morning highs, but still managed to hold notable gains. The BSE Sensex was up 245 points at 60,274, and the NSE Nifty had added 81 points to 17,970.

Larsen & Toubro has surged 4 per cent to Rs 1,890 on hopes of strong order inflows in Q3. The stock now trades at a fresh all-time high. READ MORE

Among sectors, the BSE Capital Goods and Realty indices had rallied over 2 per cent each. Most of the sectoral indices were holding gains.

Meanwhile, the Services PMI for October expanded to 58.4 vs 52.2 in September 2021. This has been the highest reading in 10.5 years.

Primary Market Update: Policy Bazaar (PB Fintech) was subscribed 1.62x, Sigachi 27.07x and S J S Enterprises 54 per cent.

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Markets at 10 AM

LIVE market updates: The key benchmark indices managed to hover near the highs of the day on the back of buying support in select index heavyweights like – HDFC, Larsen & Toubro and Infosys. The BSE Sensex was up 311 points at 60,340, and the NSE Nifty had gained 92 points at 17,981.

The broader markets were also seen holding gains towards the end of first hour of trades. The BSE Midcap and Smallcap indices were up 0.5 per cent and 0.4 per cent, respectively. The breadth too was fairly positive early on, with two advancing shares for every single declining stock on the BSE.

Larsen & Toubro was up 3.3 per cent at Rs 1,876 and was the top gainer among the Sensex 30 stocks. Tech Mahindra, UltraTech Cement and Kotak Bank were the other prominent gainers. On the other hand, Sun Pharma has slipped 1.5 per cent.

In the broader markets, Trent rallied 9 per cent to Rs 1,133 after the company reported a strong set of September quarter (Q2FY22) earnings, with standalone profit after tax (PAT) of Rs 126 crore on back of healthy revenue. READ MORE

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Opening Bell

In early deals, the BSE barometer of 30 shares was at 60,316 levels, up 287 points, while the Nifty50 quoted at 17,965, up 76 points.

Bharti Airtel was the top gainer in the Sensex pack, up 2.5 per cent, after the telecom major beat market estimates, aided by improved operational performance and exceptional income to report a consolidated net of Rs 1,134 crore for the September quarter.

Besides, Tech M, UltraTech Cement, L&T, NTPC, Tata Steel, and SBI were the other top gainers on the index. On the downside, Titan, Sun Pharma, HDFC Bank, and HUL were the top laggards.

The broader markets, meanwhile, performed in-line with the benchmark indices. The BSE MidCap index added 0.43 per cent and the BSE SmallCap index climbed 0.33 per cent.

Sectorally, only media and pharma indices were in the red, down up to 0.14 per cent. On the upside, the Nifty Realty, PSU Bank, and IT indices were up 0.6 per cent each.

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Pre-open session (Updated at 9:07 AM)

LIVE market updates: Ahead of the US Federal Reserve’s policy outcome due later today, and an extended weekend, markets are eyeing a fairly positive start.

The BSE Sensex is up 208 points at 60,237.5 in pre-opening session. The Nifty50, on the other hand, was at 17,940, up 51 points at 9:06 AM.

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(Updated at 8:20 AM)

LIVE market updates: Trading activity may be light on Wednesday given the long-holiday break and anxiousness ahead of the US Federal meeting outcome later tonight. At 8:10 AM, SGX Nifty was up 36 points at 17,956 levels.

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