SGX Nifty Indicates Positive Start | FIIs on a Buying Spree | What Next for Zomato | Top Buzzing Stocks Today

Mon, 14 Nov Pre-Open

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On Friday last week, Indian share markets ended on a strong note as index heavyweight stocks rallied and Jerome Powell's comments on future rate hikes provided investors some relief.

Benchmark indices ended near the day's high as strong global cues and a weaker dollar kept the sentiment bullish throughout the session.

At the closing bell on Friday, the BSE Sensex stood higher by 1,181 points (up 2%).

Meanwhile, the NSE Nifty closed higher by 322 points (up 1.8%).

HDFC Twins, Infosys, and Tech Mahindra were among the top gainers.

M&M, SBI, and Kotak Bank, on the other hand, were among the top losers.

The broader markets ended on a positive note though the gains were limited. The BSE MidCap climbed 0.2% and the BSE SmallCap index ended higher by 0.3%.

Sectoral indices ended on a firm note on Friday with stocks in the metal sector, IT sector, and finance sector witnessing most of the buying.

Shares of Bharat Forge and Godfrey Philips hit their 52-week highs.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee was trading at 80.75 against the US$.

Gold prices for the latest contract on MCX were trading up by 0.7% at Rs 52,451 per 10 grams, at the time of Indian market closing hours on Friday.

Meanwhile, silver prices for the latest contract on MCX were trading up by 0.5% at Rs 62,226 per 1 kg.

At 9:00 AM today, the SGX Nifty was trading up by 22 points, or 0.1% higher at 18,460 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

Speaking of stock markets, after a 60% correction from the peak, does Zomato become a buy? Should you buy Zomato? The answer lies in your investing style.

In the below video, Aditya Vora decodes what investors and traders should do with the stock of Zomato.

Top Buzzing Stocks Today

Lumax Ind will be among the top buzzing stocks today.

Shares of Lumax Industries were locked in upper circuit on Friday after the company posted its quarterly results.

The company's revenue from operations rose 36.7% at Rs 6.2 billion (about Rs 620 crore) as against Rs 4.5 bn in the corresponding quarter of the previous financial year. On sequential basis, net profit jumped 66%, and revenue by 21% during the quarter.

Further, the board has approved the company's plan to set up new manufacturing unit in Chakan, Pune, to cater to the orders received from original equipment manufacturers (OEMs).

Market participants will also track share price of Zomato.

Zomato share price is finally on the rise after posting its quarterly results.

The food delivery aggregator's net loss narrowed to Rs 2.5 bn for the September quarter of the current financial year, as against Rs 4.3 bn, in the year-ago period.

The company's revenue, too, increased 62.2% ear-on-year (YoY) to Rs 16.6 bn in the current quarter as against Rs 10.2 bn in the year ago period. Zomato's food delivery gross order value, meanwhile, grew 3.1% QoQ and 22.6% YoY in Q2 of the current financial year.

How US stocks ended on Friday

On Friday, US stock market indices ended on a positive note as investors snapped up tech shares on hopes that interest rates would ease.

The Dow Jones gained 0.1% to close at 33,748 while the tech heavy Nasdaq rallied 1.9% to close at 11,323.

Amazon shares inched 4% higher while Tesla gained 2.8%.

Here's a table showing how the top US tech stocks ended on Friday.

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	96.7	2.6	2.7%	97.4	94.2	152.1	83.5
Apple	149.7	2.8	1.9%	150.0	144.4	182.9	129.0
Meta	113.0	1.2	1.0%	114.9	108.8	353.8	88.1
Tesla	196.0	5.3	2.8%	196.5	182.6	402.7	177.1
Netflix	290.1	15.2	5.5%	290.7	271.6	701.0	162.7
Amazon	100.8	4.2	4.3%	101.2	96.7	188.1	85.9
Microsoft	247.1	4.1	1.7%	248.0	241.9	349.7	213.4
Dow Jones	33,747.9	32.5	0.1%	33,818.0	33,394.4	36,952.7	28,660.9
Nasdaq	11,323.3	209.2	1.9%	11,352.4	11,069.8	16,212.2	10,088.8

Source: Equitymaster

Note that Dow had surged more than 1,200 points on Thursday following a smaller-than-expected rise in consumer prices for the month of October, giving investors hope that inflation may be cooling.

FII buying continues

Foreign portfolio investors (FPIs) have extended their buying spree in Indian equities to nearly Rs 190 bn in less than two weeks of November.

The current month brings in cheer for Indian markets as foreign investors emerged broadly as net buyers amidst a healthy Q2 earnings season and a strengthening in the rupee. Sensex has climbed nearly 1,050 points and Nifty 50 jumped over 350 points so far in November.

Indian stocks have become the preferred picks of FPIs. On the contrary, domestic investors have emerged as sellers. FPIs are expected to continue their buying trend in domestic equities.

As per NSDL data, FPIs pumped in Rs 190 bn in Indian equities between 1 to 11 November, while they were sellers in debt and hybrid markets with an outflow of Rs 27.8 bn and Rs 900 m respectively. FPIs made a gradual buying in debt-VRR to the tune of Rs 650 m so far in November.

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Due to stellar buying in the equities, FPIs' overall buying in the Indian market is around Rs 161.7 bn till 11 November in the current month.

Last month, FPIs were net sellers with an outflow of Rs 80 m in the equities. Notably, October is the lowest monthly outflow in the current year.

FIIs are investing but where? To find out read our article on stocks which FIIs are bullish on.

Container Corporation quarterly results

With a market valuation of Rs 467.8 bn, Container Corporation is a large-cap company that engages in the logistics industry. The three unique operations of a carrier, a terminal operator, and a warehouse operator make up the company's main business.

As a Navratna CPSE, Container Corporation of India provides multifunctional logistics for domestic and international containerization and commerce in India. The company has released its Q2 earnings along with a 60% interim dividend.

The board has declared 2nd Interim Dividend for financial year 2022-23 of 60% i.e. Rs.3 per equity share of face value of Rs. 5/- each amounting to Rs.1.8 bn. The record date for the purpose of payment of interim dividend has been fixed as 23 November.

The interim dividend will be paid to the shareholders on or after 30 November. The payment of dividend will be made within 30 days of its declaration.

On a consolidated basis, the company declared a net profit of Rs 3,038 m for the quarter ended 30 September 2022 compared to Rs 2,532.1 m in the year-ago quarter, representing a YoY growth of 19.9%.

The company had posted a net profit of Rs 2,968.3 m in the quarter ended June 2022, representing a QoQ growth of 2.3%.

On a consolidated basis, the company declared net sales of Rs 19,863.4 m in the quarter ended 30 September 2022 compared to Rs 18,372 m in the year ago period and Rs 19,939.9 m posted in previous quarter, representing a YoY growth of 8.1% and a QoQ fall of 0.4%.

On a consolidated basis, the company declared a total income of Rs 20,309.4 m in the quarter ended 30 September 2022, compared to Rs 19,002.8 m in the year ago period and Rs 20,625 m posted in the previous quarter representing a YoY growth of 6.9% and a QoQ fall of 1.5%.

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

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