Share Market Today News: Sensex rises 375 factors, Nifty ends close to 18,150-mark on optimistic world cues, financial knowledge

Stock Market New Today, Sensex, Nifty Share Price Live Today, November 1, 2022: The topline fairness indices on the BSE and National Stock Exchange (NSE) prolonged their positive factors for the fourth consecutive day and ended over 0.6 per cent larger on Tuesday aided by market heavyweights Infosys and HDFC Bank amid optimistic cues within the world market.

A strong manufacturing PMI knowledge too aided market sentiment throughout the session, analysts mentioned.

The S&P BSE Sensex rose 374.76 factors (0.62 per cent) to finish at 61,121.35 whereas the Nifty 50 gained 133.20 factors (0.74 per cent) to settle at 18,145.40. Both the indices had opened round 0.5 per cent larger earlier within the day and inched up because the session progressed with the Sensex touching an intraday excessive 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 had been the highest gainers on Tuesday whereas Axis Bank, Maruti Suzuki India, Reliance Industries (RIL) and Tata Steel had been 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 factors (1.04 per cent) to finish at 25,622.27 whereas the S&P BSE SmallCap rose 73.52 factors (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,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.

Manufacturing PMI

Manufacturing actions in India remained sturdy and value pressures had been contained in October as new orders and manufacturing rose at a slower however stronger tempo, in keeping with a month-to-month survey launched 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 knowledge pointed to an enchancment in total working circumstances for the sixteenth straight month. In PMI parlance, a print above 50 means growth whereas a rating beneath 50 signifies contraction. Click right here to learn

Global Markets (from Reuters)

European shares rose in early buying and selling on Tuesday, supported by hypothesis amongst buyers that central banks might come to the tip of their rate-hiking cycles.

Asian shares strengthened, following gentle losses on Wall Street on Monday, as investor focus shifted to the US Federal Reserve’s charge choice on Wednesday and the Bank of England assembly on Thursday.

At 0755 GMT, the MSCI world fairness index, which tracks shares in 47 nations, was up 0.6 per cent on the day, holding near final week’s excessive. Europe’s STOXX 600 rose to its highest in additional than six weeks, up 1.3 per cent on the day. London’s FTSE 100 was up 1.5 per cent, whereas Germany’s DAX was up 1.1 per cent.