Sensex gains 452 points, Nifty closes over 18,150 helped by auto, IT, metal


Benchmark indices closed on Wednesday high in green with auto stocks getting a fillip from the news of TPG Capital funding an EV venture of Tata Motors. Expectations of good showing of IT stocks also helped the markets. Infosys, Wipro, and Mindtree, among others, are companies set to announce their quarterly results later today. Aviation stocks also gained on the back of the government’s announcement of lifting capacity caps from 18 October. Results announced today will have an impact on the showing of the markets as it heads for a long weekend with 15 October closed for Dussehra.

13 Oct 2021, 04:10:27 PM IST

Rupee recovers 15 paise to close at 75.37 against US dollar

The rupee on Wednesday rebounded by 15 paise to close at 75.37 (provisional) against the US dollar following a rally in domestic equities and weak American currency in the overseas markets. In addition, lower crude prices also supported the rupee sentiment, forex deals said. At the interbank forex market, the rupee opened strong at 75.29 against the greenback. During the session, the domestic unit swung between 75.19 and 75.51. On Tuesday, the rupee had closed at 75.52 against the dollar. (PTI)

13 Oct 2021, 04:09:14 PM IST

Infosys, Wipro beat estimates 

13 Oct 2021, 04:07:39 PM IST

On markets closing: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

“The Nifty was successful in closing above the hurdle of 18,050. This should allow the index to scale up higher to 18,250 as the first pit stop and then to 18,400. Since the volumes are healthy and the momentum is fierce, dips and corrections should be utilized to accumulate long positions.”

13 Oct 2021, 04:05:52 PM IST

On market closing: Gaurav Udani, CEO & Founder, ThincRedBlu Securities

“Nifty made a new lifetime high of 18,197 today. It closed at 18,160, up by 170 points since yesterday’s close. Volumes in Nifty were higher than its average, which is a good sign for longs. Nifty has a strong support in the 18,050-18,110 range. Traders can use buy on dips strategy with strict stoploss for 18,250-18,300 as targets.”

13 Oct 2021, 04:04:30 PM IST

On currency markets: Raj Deepak Singh, head-derivatives, ICICI Securities

“Indian Rupee appreciated amid weakness in Dollar and rise in risk appetite in the domestic markets. Further, rupee gained strength on improved macroeconomic data. India CPI data showed that inflation eased to 5-month low of 4.35% in September and remained within RBI’s comfort zone. However, sharp gains were prevented on surge in crude oil prices and as investors remained vigilant ahead of FOMC meeting minutes and inflation data from US. Rupee may trade in the range of 75.10 to 75.80 in next couple of session.”

13 Oct 2021, 03:55:24 PM IST

Markets closing

The festive spirit appeared to have taken hold of the markets as they continued to rise for the fifth consecutive session, on Wednesday, even as Asian and global peers were tepid on inflation signals and the likelihood of tapering by the US government. Auto stocks had a field day on Wednesday, primed by reports of proposed investment in the EV arm of Tata Motors. The report, possibly also bolstered by the conglomerate’s winning bid for Air India earlier, had a strong showing through the day. Tata Motors made about 20% gains over the day. Other Tata stocks were following closely ranking at the top of the list of firms that had more than 10% gains on the market. Results of IT biggies Infosys and Wipro will be watched and will likely be factored in on Thursday.

Sensex heatmap.

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Sensex heatmap.
13 Oct 2021, 03:54:38 PM IST

Puravankara to invest ₹420 cr for two projects; eyes ₹1,250 cr revenue

Realty firm Puravankara Ltd will invest around 420 crore for construction of two residential projects in Mumbai and Bengaluru and is targeting over 1,250 crore sales revenue over the next four years from these properties on the back of rising housing demand. The company on Wednesday launched two projects—‘Provident Palm Vista’ located near Shil Phata, Mumbai with one million square feet of saleable area and ‘Tivoli Hills’ located near Devanahalli, Bengaluru having a total saleable plot area of about 1.4 million square feet. “We are introducing our affordable housing brand ‘Provident’ in Mumbai market. We will build this project in JDA (Joint Development Agreement) model,” Puravankara chief executive officer Abhishek Kapoor said. (PTI)

13 Oct 2021, 03:33:42 PM IST

Nifty, Sensex at 03:31 pm

Nifty, sensex at 3:31 pm

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Nifty, sensex at 3:31 pm
13 Oct 2021, 03:27:07 PM IST

Government cuts customs duty, agriculture cess on the edible oils: report

The government has cut customs duty and agriculture cess on the edible oils, according to a report on CNBC-TV19. Customs duty cut has been effected on crude sunflower oil to nil and customs duty on refined sunflower oil has been brought down to 17.5%. Customs duty on crude palm oil has also been removed.

13 Oct 2021, 03:22:32 PM IST

Exim Bank targets $7 bn financing of project exports over 5 years

Export-Import Bank of India (Exim Bank) targets to achieve financing of $7 billion of project exports over the next five years with the government announcing fund infusion of 1,650 crore in the National Export Insurance Account (NEIA) to boost project exports. The NEIA Trust, set up by the Ministry of Commerce and Industry, in March 2006, provides export credit insurance cover for promoting medium and long-term project exports from India. (PTI)

13 Oct 2021, 03:16:19 PM IST

Govt withdraws travel advisory that added covid-19 related additional checks, restrictions on those arriving from the UK

13 Oct 2021, 03:13:36 PM IST

InMobi to acquire London-based Appsumer

Mobile advertising solutions firm InMobi on Wednesday said it has signed a definitive agreement to acquire Appsumer, a London-based performance insights platform for mobile app advertisers, for an undisclosed amount. The deal brings unified intelligence to mobile marketing and a deeper understanding of marketing effectiveness for InMobi. “Together, InMobi and Appsumer intend to build an operating system that makes understanding user acquisition funnels easier by using artificial intelligence (AI) to build predictive capabilities into the platform to help marketers grow more quickly,” the statement said. (PTI)

13 Oct 2021, 03:08:26 PM IST

Sensex and Nifty at 3:05 pm

Sensex and Nifty at 3:05 pm

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Sensex and Nifty at 3:05 pm
13 Oct 2021, 03:03:50 PM IST

Broad market indices

Nifty Broad market indices at 3:00 pm 

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Nifty Broad market indices at 3:00 pm 
13 Oct 2021, 02:54:37 PM IST

Salman Khan jumps on to NFT bandwagon, to launch digital collectibles soon

Bollywood actor Salman Khan, on Wednesday, announced that he will soon launch non-fungible tokens or NFTs…



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