News

The Indian equity markets closed on a high note on Diwali today, with benchmark indices scaling fresh 1-year highs and broader markets outperforming. Investor sentiment remained buoyant, driven by strong Q2 earnings and sectoral momentum.

Key Highlights

– Nifty 50 surged 133 points to close at 25,843, after crossing the 25,900 mark intra-day.

– Sensex climbed 411 points, ending at 84,363, with an intra-day high of 84,650.

– Nifty Bank gained 320 points to settle at 58,033, breaching the 58,000 level during the session.

– Midcap Index rallied 442 points to 59,345, reflecting strong participation from mid-sized companies.

– Market breadth remained positive, with the NSE advance-decline ratio at 3:2, signaling widespread buying.

Sectoral & Stock Movers

– PSU Bank Index led the charge, fueled by robust Q2 results from AU Small Finance Bank, Federal Bank, and IDFC First Bank.

– Insurance stocks bucked the trend, with Niva Bupa and Star Health slipping by 2% each.

– Reliance Industries emerged as the top Nifty contributor, rallying over 3.5% post its earnings announcement.

– ICICI Bank and HDFC Bank ended lower despite posting results, with ICICI down 3%.

– RBL Bank soared over 9% following news of a strategic deal with Emirates NBD.

– Dixon Technologies dropped 4% after CLSA downgraded the stock and trimmed its FY26 revenue growth guidance to 30–35%.

Top Gainers

– Midcap Stars: AU SFB, MRPL, Federal Bank, IDFC First Bank, and Bank of India.

– Nifty Leaders: TCS, Hindalco, Titan, Apollo Hospitals, and Infosys.

With strong earnings momentum and broad-based buying, the markets appear to be in a bullish phase. However, investors should remain watchful of global cues and sector-specific developments.

Stay tuned for more updates and insights on market trends!

On Monday, October 20, shares of DCB Bank Ltd. increased by as much as 13.5% in reaction to the company’s September quarter results. The stock has gained the most in a single day since April 2022.

The company’s core Net Interest Income (NII) increased by 17% to ₹596 crore from ₹509 crore in the same quarter of the previous year.

As the FY 2024–2025 GSTR-9 and GSTR-9C filing window opens, tax experts are examining the comprehensive frequently asked questions (FAQs) published by the Goods and Services Tax Network (GSTN) to determine their usefulness for yearly compliance.

Thyssenkrupp’s CEO stated on Monday that although negotiations with Jindal Steel International about the Indian group’s takeover interest in Thyssenkrupp’s steel division were thorough and fruitful, a deal would probably be reached within a few months.

Here are a couple of stock recommendations by Ruchit Jain, Motilal Oswal Financial Services:

Buy TCS with a stop loss of ₹2,940 and a target of ₹3,160

Buy PNB with a stop loss of ₹114 and a target of ₹127

The company’s revenue declined 23% sequentially, which was broadly in-line with expectations, and driven by a sharp 91% decline in other (market-to-market) income.

The company’s employee costs increased 23% sequentially, due to one-off items, dragging the earnings before interest taxes, depreciation and amortisation (EBITDA) margin lower by 1980 basis points sequentially.

here

Cipla, Reliance Industries, Shriram Finance, Bajaj Finserv and Axis Bank are the top Nifty 50 gainers today.

A total of the 34 of the 50 stocks are trading with gains at the moment.

About 73 lakh shares of the company changed hands during the day, sharply higher than the 20-day average of 7 lakh shares.

The rally follows robust second-quarter earnings and improving asset quality, which analysts expect to sustain in the near term. The lender has now shifted its focus towards accelerating growth in the coming quarters.

here

The Nifty IT index has surged by over 300 points, putting itself forward as one of the best-performing sectoral indices in today’s session.

Director of Finance and Group CFO Saurabh Gupta stated that Dixon Technologies anticipates producing approximately 40 million smartphones in fiscal year 2025–2026 (FY26) and wants to increase production even more in the next fiscal year.

In my opinion, we anticipated selling almost 40 million smartphones this year. Gupta stated, “I believe we are on track for that.” “We have done about 20 million in the first six months.”

The shares of Punjab National Bank surged on Monday, hitting the 52-week high mark.

JSW Paints Gets CCI Nod For Akzo Nobel India Acquisition

As investor interest is rekindled by significant strategic deals, consistent credit expansion, and increasing consumer sentiment, the Indian financial sector is once again in the news.

“The sector’s attractive valuations have long attracted both domestic and foreign investors, and the environment now looks primed for a sustained recovery,” said Sandeep Bhatia, Managing Director and Head of Equity India at Macquarie Capital.

The shares of another JK Tyre surged, following the surge in prices of Apollo Tyres.

Jana Bank shares are trading under pressure, as the bank’s shares are trading with high volumes of 3 lakh shares, compared to the 20-day average of 60,000.

The shares of Can Fin Homes surged, hitting the markets with major volume movements, 6.7 times the usual amount.

On Monday, October 20, shares of Bharat Rasayan Ltd. increased by as much as 12% following the company’s announcement that its board will meet to discuss a stock split and bonus issue of shares in addition to its September quarter results.

The business stated in an exchange statement that the board will discuss these ideas at its meeting on Friday, October 24.

Following the release of its second-quarter earnings, UTI AMC Ltd.’s shares saw their largest one-day decline since their debut in 2020, falling 10%.

The severe 91% fall in other (market-to-market) income was the primary driver of the company’s 23% sequential revenue decline, which was generally in line with forecasts.

Praveen Kutty, DCB Bank On CNBC-TV18

Expect Credit Costs To Be Between 40–45 bps By The End Of FY26

Deposit Growth Stands At 19% YoY

NIMs Have Bottomed Out & Are Expected To Expand, Barring Any Further Rate Cuts

Cost-to-income Ratio Has Declined Significantly On A Yearly Basis

Cost-to-average Assets Is Now Lower Than The Previous Quarter

We Have Exited Investments With Poor Returns

Co-lending Ratios Are Expected To Decline Below 15% In Q4

The shares of Tejas Network slumped by 8%.

Sudeep Shah, Head Of Technical and Derivative Research, SBI Securities

The Zerodha BSE SENSEX Index Fund is an open-ended fund that was introduced by Zerodha Fund House with the goal of tracking the BSE SENSEX Index. Unit allocation is planned for November 6, and the fund’s New Fund Offer (NFO) will commence on October 20 and close on November 3.

Expect silver prices to head towards $50-55/oz & zinc prices to move towards $3,000-3,100/t as demand remains strong till next year at least.

Q3 is expected to be a soft quarter because of festivals; rolling out salary increments for 88% of the employees from Oct 1

Bharat Rasayan Board to consider stock split & bonus issue on October 24

Nikhil Khandelwal, Managing Director, Systematix Group

Shreehas Tambe, Biocon Biologics On CNBC-TV18

Share India Securities

Date        Price Action      Volumes

October 15  (GU) 9%          16.1 Lakh

October 16  (GU) 20%              1.05 Crore

October 17  (GU) 12%               2.74 Crore

Share India Securities

– 2.74 crore shares change hands Vs 20-day average of 9.5 lakh

– 31 lakh shares change hands Vs 20-day average of 3.8 lakh

The Nifty PSU Bank index is leading the charge, as the sectoral index has surged over 3%.

NurecaNewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.