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Oct 4, 2021 5:16 PM

Crucial support for Nifty50 at 17,600: Shrikant Chouhan

"Buying resumed on the Street amid mixed global market cues. Benchmark Nifty hovered between 17,645 and 17,750 after a strong opening. Technically, one more time, the Nifty took support near the 20-day simple moving average and reversed sharply. The index has formed a promising reversal pattern, which is broadly positive. The 17,600 level or the 20-day simple moving average would act as a crucial support level for day traders, above which, the uptrend momentum is likely to continue up to 17,800-17,850 levels. Below 17,600 the uptrend would be vulnerable," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

Oct 4, 2021 5:16 PM

Major support for USD-INR pair remains near 74 mark: Kotak Securities' Anindya Banerjee

"The USD-INR spot (pair0 closed higher on the back of a rise in oil prices and weakness in the equity market. The USD-INR pair continues to oscillate within its 14-month range of 72.30-75.30. As long as oil continues to rise from here and the US dollar index remains flat to strong, the USD-INR may once again challenge the 75.00 resistance in the coming days. Major support remains near 74.00," siad Anindya Banerjee, DVP, Currency Derivatives and Interest Rate Derivatives at Kotak Securities.

Oct 4, 2021 5:14 PM

Elevated valuations, global concerns to keep market volatile: Siddhartha Khemka

"Domestic cues remain positive as economic activities gain further momentum but elevated valuations along with multiple global concerns would keep the market volatile. The RBI's monetary policy and Tata Consultancy Services' quarterly results are the two key events that will be widely tracked. The RBI is expected to maintain its policy rates but may lay the roadmap for tapering of stimulus in line with other central banks. TCS would mark the start of the earnings season, which is expected to continue the strong earnings momentum," said Siddhartha Khemka, Head-Retail Research at Motilal Oswal Financial Services.

Oct 4, 2021 5:07 PM

Metals seem to be done for now: Dolat Capital Market's Amit Khurana

Amit Khurana, Head-Equities at Dolat Capital Market, believes the metals theme seems to be done for the moment. "We did call out for the metals topping out way back in the month of July, when we said that metals seem to be done for the moment. And I've been, on this forum as well calling that out. I think what has happened is that the entire newsflow that we saw in terms of price uptakes, in terms of volume and uptakes, sort of got digested in the last quarter or so," he said in an interview to CNBC-TV18.

"A lot of these talks also have structural factors at play, whether it's a balance sheet realignment or a strategic divestment today. We saw some flashes on Nalco being put up for privatisation. So all those things will keep coming in and playing on the sentiment in the near term. I do sense that there is the possibility of a tactical trade in a lot of metal stocks, but whether it becomes a meaningful uptick as a structural play is something I would still probably watch out for... I'm not very convinced about that situation," he said.

Oct 4, 2021 5:04 PM

Prabhudas Lilladher' Dilip Bhat likes Lupin, Cadila, Dr Reddy’s, Sun Pharma shares from pharma space

Dilip Bhat, Joint MD at Prabhudas Lilladher, said he likes Lupin, Cadila, Dr Reddy’s Laboratories and Sun Pharmaceuticals from the pharma space.

"Without any doubt, Divi’s Laboratories will always remain a very formidable investment in some of the core investments that you need to make in your portfolio. Divi’s always remains some of the core stocks. I certainly think that the market tends to have a knee-jerk reaction. Today is one of those days when the market has given a thumbs up to this particular development on a macro basis," he said.

Bhat however said he wouldn't buy Divi's at the current level, but would rather "wait for some kind of normalcy" before it can be looket at in a very objective way.

"The way pharma stocks have behaved certainly shows that the best time possibly, which was there during the pandemic, is now behind us. Now we are still trying to look for the fresh triggers on a macro basis in the pharma industry," he said.

Oct 4, 2021 5:00 PM

Market At Close | Over 35 Nifty stocks end in the green

Oct 4, 2021 4:56 PM

Market momentum driven by expectations of better Q2 earnings: Vinod Nair

"After a week-long consolidation, the Indian market is back in action despite unfavourable global sentiments. The momentum is driven by the expectations of better Q2 earnings backed by a recovery in economic activity with the fallout from the second wave of infections not being severe, and in anticipation of a better outlook from festive demand," said Vinod Nair, Head of Research at Geojit Financial Services.

"The IT sector was under consolidation before the start of quarterly results, which has led to a marginal uptick as major companies are scheduled to announce their results. The RBI's Monetary Policy meeting is another key event that is being keenly watched by the market, which is expecting no change."

Oct 4, 2021 4:26 PM

Rupee ends at 74.31 against dollar

The rupee declined to close at 74.31 against the dollar against its previous close of 74.12.

Oct 4, 2021 4:14 PM

Market At Close | Nifty Bank gains 354 points to 37,580; midcap index at session high

Here are key highlights:

--Market recovers from Friday’s losses; major indices rise 1% each

--Sensex closes 532 points higher at 59,298; Nifty 159 points higher at 17,691.3

--Nifty Bank gains 354 points to end at 37,580; midcap index ends at session high

--More than 35 Nifty stocks end in the green

--Divi’s Lab top index gainer after hitting record high on Molnupiravir boost

--Strategic Partnership with Eli Lily fails to lift Cipla; stock ends as top index loser

--Chemical companies rise across the board; reports suggest 25% of China’s chemical production may beiImpacted

--Stocks like Deepak Nitrite, GNFC, SRF, Aarti Ind all end at high point of the day

--Market breadth favours advances; advance-decline ratio at 3:1

Oct 4, 2021 3:51 PM

Market At Close | Divi's Labs, Hindalco, NTPC, Bajaj Finserv top gainers; Cipla, Grasim, UPL top losers

Oct 4, 2021 3:46 PM

Market At Close | Divi's Labs, Hindalco, NTPC, Bajaj Finserv top gainers; Cipla, Grasim, UPL top losers

Oct 4, 2021 3:44 PM

Closing Bell | Sensex rises 534 points to 59,299, Nifty at 17,694

The Sensex index rose 533.7 points or 0.9 percent to end at 59,299.3 and the broader Nifty50 benchmark added 161.8 points (0.9 percent) to settle at 17,693.9, snapping a four-day losing streak. (Read more on what the market looked like at the close)

Oct 4, 2021 3:33 PM

Divi's Labs shares gain most on Nifty50; hit all-time high

At 14:31 IST, shares of Divi’s Laboratories were up 7.6 percent on the BSE at Rs 5,196.90.

Oct 4, 2021 3:21 PM

Nifty Metal index gains the most, among sectoral indices on the NSE, up 3%. Here's a look at how the sectoral indices were performing today:

Oct 4, 2021 3:14 PM

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