Sensex Today Ends 235 Points Higher as Auto, Metal Stocks Rally | Divi's Lab Tanks 9% Post Q2 Results | SBI & Tata Steel Top Gainers

Mon, 7 Nov Closing

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It was indeed a volatile trading session for Indian share markets today.

Benchmark indices traded on a lackluster note throughout the session but witnessed movement during closing hours.

Indian share markets gave up early gains as US futures declined and as the corporate earnings season came to a close.

Meanwhile, there were also concerns in Asia after Beijing denied it was considering easing its zero Covid-19 policy.

At the closing bell, the BSE Sensex stood higher by 235 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 86 points (up 0.5%).

SBI, Tata Steel, and UltraTech Cement were among the top gainers today.

Divi's Lab, Asian Paints, and Cipla, on the other hand, were among the top losers today.

Divi's Lab share price declined 8% post declaring its Q2 results.

The SGX Nifty was trading at 18,301, up by 98 points, at the time of writing.

The BSE MidCap index ended higher by 0.7% while the BSE SmallCap index ended higher by 0.6%.

Barring healthcare and consumer durables, all sectoral indices ended in the green with stocks in the auto sector, metal sector, and energy sector witnessing most of the buying.

Shares of MRF and Britannia hit their 52-week highs today.

Adani Enterprises also hit its 52-week high by rising 4% today to storm into the top 10 most valued companies in India.

Adani Enterprises now stands at 9th position in the overall market-cap ranking, and surpassed fast moving consumer goods (FMCG) company ITC and Housing Development Finance Corporation (HDFC) in market-cap ranking.

Recently the company posted stellar results where its consolidated net profit more-than-doubled versus last year to Rs 4.6 bn. The company's consolidated revenue climbed nearly threefold to Rs 381.8 bn.

The journey of Adani Enterprises has been sweet post the Covid recovery.

But value investors would do well to stay away from this stock as most of the Adani group stocks are overvalued.

Asian share markets ended on a positive note today. The Nikkei and the Hang Seng ended the day up by 1.2% and 2.7% respectively. While the Shanghai Composite advanced by 0.3%.

The rupee is trading at 81.92 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 50,950 per 10 grams.

Speaking of stock markets, Rahul Goel talks to Vijay Kedia about Kedia's journey...successes and failures in stock picking, in the latest episode of Investor Hour Podcast.

Vijay Kedia has a cult like following in the Indian stock markets, so this episode is a must watch. Tune in below:

Voltas Announces Rs 10 bn Investment for Capacity Expansion

In news from the consumer durable space, despite announcing a Rs 10 bn plan to expand manufacturing capacity, Voltas share price is falling.

Voltas will invest over Rs 10 bn to expand its manufacturing capacity including a new plant near Chennai while another proposed Rs 5 bn compressor plant in partnership with China's Highly International is yet to receive government clearance.

The proposed investments are to support the Tata group company's pace of growth, ensure its leadership status in air-conditioners and commercial refrigeration, and fulfil its aspirations to become one of the top three brands in home appliances like refrigerators and washing machines.

The planned compressor plant in joint venture with Highly under the production-linked incentive (PLI) scheme is stuck in limbo as the Press Note 3 and PLI approvals are pending.

Highly, part of the Shanghai Highly (Group), is one of the largest compressor manufacturers in the world.

Voltas will also invest Rs 2 bn for expansion of commercial refrigeration and AC at its factory in Baroda and Rs 1 bn for room AC at Pantnagar.

An additional Rs 2 bn is going to be pumped into the home appliance plant at Sanand, near Ahmedabad.

Note that these investment plans from Voltas come at a time when the white goods industry in the country is facing slow demand due to inflation and macroeconomic factors, with investments slowing down.

It was also reported today that Life Insurance Corporation raised stake in Voltas by 2%.

How these affect the company in the long run remains to be seen.

China's Export, Imports Shrink

Moving on to news from the macroeconomic space, in an unexpected turn of events, China's exports and imports contracted in October, the first simultaneous slump since May 2020.

This, on the back of surging inflation and rising interest rates, which hammered global demand while new Covid-19 curbs disrupted output and consumption.

The weak October trade figures highlight the challenge for policymakers in China as exports had been one of the few bright spots for the struggling economy.

If you've kept up with the latest business news, you would have come across the term China Plus One.

It's the name of a huge economic shift happening in the world right now. It's a megatrend that is gaining in strength and is long-term in nature.

Keeping a close track of these developments could make all the difference in your portfolio.

So check out our recent editorial: How China's Pivot Could Boost the Fortunes of these 5 Indian Companies.

You can also take a look at the top beneficiaries of the China plus one strategy.

Global Health IPO Fully Subscribed

Moving on, in latest developments from the IPO space, the Rs 22.1 bn initial public offering (IPO) of Global Health sailed through on the last day of the bidding process today with strong demand from QIBs and HNIs.

The IPO which kicked off for subscription on Thursday last week, sold shares in the range of Rs 319-336 apiece.

Global Health is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India. It has a network of four hospitals in Gurugram, Indore, Ranchi, Patna and Lucknow.

Note that the IPO frenzy is back with four companies coming out with their public offers this week.

Five Star Business Finance, Archean Chemical Industries, Kaynes Technology India and Inox Green Energy are the issues which are/will open this week.

It remains to be seen what response these IPO get from investors.

For more details, check out the current IPOs and upcoming IPOs on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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