Stock market news | Nifty, Sensex closed in green today

October 23, 2019October 23, 2019 admin

Stock market news today: The benchmark indices opened in red today but managed to closed in green. At close, Nifty gained 15.70 points and closed at 11604.10 whereas Sensex was up 94.99 points and closed at 39058.83.

Stock market news Nifty, Sensex closed in green today

The Bank Nifty closed almost flat to positive today. It has gained 48.40 points and closed at 29459.60. The Nifty midcap closed marginally higher and it has gained 21.15 points or 0.13% and closed at 16247.70. Nifty smallcap also up 18.25 points or 0.32% and closed 5642.25.

The top five Nifty50 gainers for the day are HCL Tech, Eicher Motors, Maruti Suzuki, SBI and Titan company. And the top five Nifty50 losers for the day are Adani Port, Bharti Airtel, Zee Entertainment, Vedanta and Grasim.

The top Nifty midcap gainers are Reliance power, Indian Bank and the losers for the day are Dish TV, RBL Bank. And the top Nifty smallcap gainers are IRB Infra, TV18 Broadcast and the losers are Welspun India, Reliance Comm.

Among the sectors, IT, Auto, Banks, Capital Goods, Construction Materials are the gainers and Oil &Gas, Infracture, Telecom, Metals, and Media were closed in red today. Since the last two days, FIIs and DIIs both are selling in the cash segment. Today FIIs sold Rs 213.23 crores and DIIs sold 137.38 crores in the cash segment.

Stock in the news today

JMC projects have gained a new order worth Rs 1059 crore. The new order is a building project of residential and commercial units in North and South India. The share price of JMC projects was up1.64% and closed at Rs 111.60 per share.

Infosys was more than 4% down in the morning after yesterday’s whistleblower’s complaint. Yesterday the share fell around 16% at the close. SEBI will intervene in the matter and investigate the same. The share price of Infosys has gained 1.10% and closed at Rs 650.60 per share.

Affle India filed 14 technology patents in Singapore and USA in the areas of conversational marketing and vernacular and voice-based intelligence. The share price of Affle India gained 14.74% and closed at Rs1397.50 per share.

Movement of Shares on Q2 Earnings today

Coromandel International had posted a net profit of Rs 504 crore in Sept end quarter compared to Rs366 crore in the last year the same quarter. Company Sept quarter consolidated net profit was up 38%. The share price of Coromandel International gained 7.40% and closed at Rs 449.25 per share.

ICICI Securities posted strong Q2 earnings, the company’s net profit up 19% QoQ. The share price of ICICI securities gained 7.80% and closed at Rs 309 per share.

Bajaj Auto had posted good Q2 numbers. The net profit of the company rose 22% at Rs1402 crore against Rs1153 crores last year in the same quarter. The revenue from operation also declined by 4.1%. The share price of Bajaj Auto gained 1.29% and closed at Rs3162.65 per share.

Praj Industries reported strong Q2 numbers, the company’s net profit was up 81.2% at Rs 16.1 crore versus Rs8.9 crore in the same quarter last year. The company’s revenue was up 17.2% at Rs 294.1 versus Rs 251 crore. The share price of Praj Industries has gained1.97% and closed at Rs 113.75 per share.

Asian Paints’ profit rose on the back of the corporate tax rate cut benefit. It has posted an increase in 67% YoY profit to Rs 842 crore. Revenue from operations in Q2 grew by 9.4% YoY to Rs 5051 crore. The share price of Asian paints fell 0.72% and closed at Rs 1767.40 per share.

IRB has reported a 16% YoY increase in profit at Rs 200 crore for the September end quarter with strong revenue growth. The share price of IRB gained 13.52% and closed at Rs 81.05 per share.

Q2 Earnings after market hours today

Indian Bank also reported Q2 earnings today. It has posted a 139 percent YoY rise in the September end quarter. The share price of the Indian Bank gained 13.14% and closed at Rs142.90 per share.

Larsen and Toubro reported a 13% YoY in net profit for the September quarter. At Rs 2527 crore against Rs 2230.49 crore in the last year the same quarter. The share price of Larsen fell 0.75% and closed Rs 1431.80 per share.

Crude and Rupee Update

Yesterday the correction on crude oil price was seen after the US industry data reported a huge crude oil inventory. There is a possibility of production cuts from OPEC and its allies so that a further drop in price can be prevented. The Brent crude oil future is trading at $59.30 per barrel, it is down 0.67% today. The Indian rupee is closed almost flat today at Rs 70.84 against the US dollar.

Conclusions:

We have analyzed the stock market news above. Indian stock market is looking positive as long as Nifty is trading above 11,500. Midcap and Smallcap stocks are also moving now. An investor can start accumulating good quality stocks now for the long term. Investors should avoid stocks that are at issue or are in news.