Sensex Today | Stock Market LIVE Updates: Nifty, Sensex set for a muted open, ICICI Bank, Coal India to react to results

Sensex Today | Stock Market LIVE Updates: ICICI Bank A ‘Cut Above The Rest’ Say Analysts After Strong Q2 Results

ICICI Bank Ltd., the Mumbai-based private lender now features among those few stocks on the street, that do not have a “sell” rating on the stock. 45 out of the 50 analysts that have coverage on the bank, have a “buy” recommendation on the stock, while the other five have a “hold” rating.

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Sensex Today | Stock Market LIVE Updates: IndiGo To React To Earnings

Net loss of ₹986.7 crore compared to poll of ₹194.9 crore loss. Revenue up 13.6% to ₹16,969.6 crore, higher than the poll of ₹16,790.4 crore. EBITDAR at ₹2,434 crore, also higher than expectations but lower than last year’s figure of ₹2,446.5 crore. EBITDAR margin at 14.3% from 16.4% last year and 14% expectations.

Sensex Today | Stock Market LIVE Updates: Marketbuzz Podcast: Where Does The Nifty Fall Stop Amid Earnings Reactions?

Indian markets may see a subdued start according to the GIFT Nifty. Watch out for stocks like ICICI Bank, Bank of Baroda, IDFC First Bank among others.

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Sensex Today | Stock Market LIVE Updates: Here Are All The Global Cues You Need To Track Today

#MarketCues | Here’s how global market cues are placed this morning pic.twitter.com/s4Bw7qgxm2

— CNBC-TV18 (@CNBCTV18Live) October 28, 2024
 

Editor’s Take | Prashant Nair Shares His Views On The Market

THE LOSSES MOUNT !
Indices % Off From Highs
Nifty: -8.3%
Bank Nifty -7.4%
Midcap -9.8%
Smallcap -9.6%

TRADE SET UP
Markets need to see a positive daily close
Flows MTD: FIIs: (-) Rs.1 lakh crore, DIIs (+) Rs.97,000 crore
On Friday
SPX -0.03%, Nasdaq +0.56%, Russell 2000 -0.31%
VIX jumped +6% to 20.33
UST 10y yield +3 bps to 4.24%, Dollar Index +0.19% to 104.26
Brent Oil up 2.2% to $76.05
Week Ahead
US election developments in the headlines
43% of SPX report earnings, with 5 of Mag 7 on deck
FOMC blackout ahead of the Nov 7th Fed meeting
Levels To Watch
Nifty downside target 23,700
On the upside, 24,487 (40-HEMA) is important
Bank Nifty broke the low of 51,107 on Friday
Immediate downside level to watch for Bank Nifty is at 50,194
On the way up, resistance comes in at 51,130 (40-HEMA)

Sensex Today | Stock Market LIVE Updates: ICICI Bank To React To Q2 Results Today

ICICI Bank: Net Interest Income up 9.5% to ₹20,047.98 crore. Net profit up 14.5% to ₹11,745.9 crore. Gross NPA at 1.97% from 2.15%. Net NPA at 0.42% from 0.43% in June. Provisions double year-on-year but down 7.4% sequentially to ₹1,233.1 crore. Deposits up 15.7% to ₹14.07 lakh crore. Advances up 15% to ₹12.77 lakh crore.

Editor’s Take | Surabhi Upadhyay Shares Her Views On The Market

Global Cues Supportive
Nikkei gains; Ruling LDP loses majority in general election
Oil prices fall 4% as Isreal counter strike spares Iranian oil inra

D-Street in Bear Grip
Nifty sees 4th consecutive week of loss; falls 2.5%
India VIX up 4.74% on Friday; Up 12.2% last week
From the Peak
Nifty: Down 8%
Nifty Bank: Down 6.8%
Midcap: Down 9.3%
Smallcap: Down 9.1%
FIIs Net Sell `3,036.75 Cr In Equities
DIIs Net Buy `4,159.29 Cr In Equities

Weekend Results:
ICICI sparkles amidst asset quality concerns
Asset quality improves; GNPA ratio at 1.97% vs 2.15%QOQ
Annualised slippage ratio falls to 1.59% vs 1.93%QOQ

Poor Asset Quality Trends: IDFC First Bank, Credit Access Gramin, Bandhan Bank
IDFC First Bank : Spike in credit cost to 3.15% from 1.9% QoQ
Bandhan Bank
Annualised slippage ratio at 3.52% vs 2.93%
GNPA ratio at 4.68% vs 4.23%
Creditaccess Grameen
GNPA ratio at 2.44% vs 1.46%
Provisions at Rs420.2 cr, up 338.34%YOY & 140.65%QOQ
Shriram Finance, BoB: Steady Quarter
Coal India, Intergloble Aviation, DLF: Weak Results

Axis Bank: SEBI Issues Show Cause Notice in Max Life stake purchase deal

Sensex Today | Stock Market LIVE Updates: Nifty 50, Sensex Set For A Muted Open

#CNBCTV18Market | #GIFTNifty trading with a discount of nearly 10 points from Nifty Futures’ Friday close, indicates a muted start for Indian market pic.twitter.com/VDAnjHLclC

— CNBC-TV18 (@CNBCTV18Live) October 28, 2024
 

Sensex Today | Stock Market LIVE Updates: Oil Prices Slump 5% As Israel Limits Iran Strike To Military Targets

Oil tumbled as Israeli strikes on Iran over the weekend avoided the OPEC member’s oil facilities.

Brent crude plunged 5% to trade near $72 a barrel, with West Texas Intermediate below $68. More than 100 Israeli fighter planes struck military targets across Iran on Saturday, delivering on a vow to retaliate for a missile barrage launched at the start of the month. The attack was more restrained than many had expected, and Iranian state media said the country’s oil industry activities were working normally.

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Sensex Today | Stock Market LIVE Updates: Where Will The Nifty Find Support On A Slip Below 24,000?

It is exactly a month since the Nifty made a record high of 26,277 on September 27. Since then, the index has not reported a weekly advance, nor has it seen any kind of move back to those levels. As of closing on Friday, the Nifty is down 2,000 points from those levels and on the verge of breaking 24,000 levels on the downside.

Read today’s Trade Setup here

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