Share Market Today News: Sensex rises 375 points, Nifty ends near 18,150-mark on positive global cues, economic data

Stock Market New Today, Sensex, Nifty Share Price Live Today, November 1, 2022: The topline equity indices on the BSE and National Stock Exchange (NSE) extended their gains for the fourth consecutive day and ended over 0.6 per cent higher on Tuesday aided by market heavyweights Infosys and HDFC Bank amid positive cues in the global market.

A robust manufacturing PMI data too aided market sentiment during the session, analysts said.

The S&P BSE Sensex rose 374.76 points (0.62 per cent) to end at 61,121.35 while the Nifty 50 gained 133.20 points (0.74 per cent) to settle at 18,145.40. Both the indices had opened around 0.5 per cent higher earlier in the day and inched up as the session progressed with the Sensex touching an intraday high of 61,289.73 and the broader Nifty hitting 18,175.80.

On the Sensex pack, NTPC, Power Grid Corporation of India, Dr> Reddy’s Laboratories, Infosys, Tata Consultancy Services (TCS), UltraTech Cement, HCL Technologies, Sun Pharmaceutical Industries and Asian Paints were the top gainers on Tuesday while Axis Bank, Maruti Suzuki India, Reliance Industries (RIL) and Tata Steel were the laggards.

Among the sectoral indices, Nifty Metal index surged 2.38 per cent, Nifty Pharma jumped 2.12 per cent, Nifty Healthcare index rose 1.93 per cent and Nifty IT rallied 1.89 per cent.

In the broader market, the S&P BSE MidCap index gained 263.25 points (1.04 per cent) to end at 25,622.27 while the S&P BSE SmallCap rose 73.52 points (0.26 per cent) to settle at 28,891.11.

“The bulls are driving the trend in the domestic market with backing from FIIs and the global markets. The PMI numbers show that manufacturing activity in India remained strong in October and that pricing pressures were kept in check as new orders and production increased, albeit slowly. Investors are keeping an eye on the central banks’ policy meetings for any indications of a slowdown in the pace of rate hikes,” said Vinod Nair, Head of Research at Geojit Financial Services.

Manufacturing PMI

Manufacturing activities in India remained robust and price pressures were contained in October as new orders and production rose at a slower but stronger pace, according to a monthly survey released on Tuesday.

The seasonally-adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) was up from 55.1 in September to 55.3 in October.

The October PMI data pointed to an improvement in overall operating conditions for the 16th straight month. In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction. Click here to read

Global Markets (from Reuters)

European stocks rose in early trading on Tuesday, supported by speculation among investors that central banks could come to the end of their rate-hiking cycles.

Asian shares strengthened, following mild losses on Wall Street on Monday, as investor focus shifted to the US Federal Reserve’s rate decision on Wednesday and the Bank of England meeting on Thursday.

At 0755 GMT, the MSCI world equity index, which tracks shares in 47 countries, was up 0.6 per cent on the day, holding close to last week’s high. Europe’s STOXX 600 rose to its highest in more than six weeks, up 1.3 per cent on the day. London’s FTSE 100 was up 1.5 per cent, while Germany’s DAX was up 1.1 per cent.

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