Indian Indices Close Lower, Nifty Metal Declines : October 19, 2023
On Thursday, the Indian markets wrapped up the day with mixed sector performance as the results season continued, leading to a lower closing.
On Thursday, the Indian markets wrapped up the day with mixed sector performance as the results season continued, leading to a lower closing. The Sensex concluded the day with a 0.38% dip, slipping below the 65,700 mark, while the Nifty saw a 0.24% decline, closing below 19,700. Conversely, Nifty Midcap ended 0.09% lower, while Nifty Smallcap managed a marginal gain of 0.15%.
Analysing sector performance, several segments experienced significant gains, with Nifty Auto taking the lead, followed by Nifty Media and Nifty FMCG among the top gainers. However, Nifty Metal, Nifty Energy, Nifty Financial Services, and Nifty Pharma faced challenges during the session.
Within the Nifty 50 index, notable gains were observed in Auto stocks, particularly Bajaj Auto, which surged over 8%, followed by Nestle India, Coal India, and Hero Motocorp. In contrast, SBIN declined over 4%, followed by Axis Bank, Tech Mahindra, and Adani Ports, making them the top decliners in the index.
Additionally, stocks in the broader market displayed positive movements. Significant gains were recorded in FACT, Prestige, Kalyan Jewellers, and Suzlon Energy, while CG Power, Biocon, Finolex Cables, and Triveni Turbine faced losses.
On a related note, Bajaj Auto Limited reported a standalone net profit of Rs 1,836.14 crore for the quarter ended September 30, marking a 20% year-on-year increase from Rs 1,530 crore. During July-September, revenue from operations increased by 5.6% to reach Rs 10,777.27 crore compared to Rs 10,203 crore in the corresponding period last year. The company benefited from reduced commodity costs and implemented price hikes.
Overall, market sentiment leaned slightly pessimistic, with around 937 stocks advancing and 1,085 stocks declining, reflecting a negative market sentiment.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Buyers only: BSE upper circuit stocks priced below Rs 100: November 2, 2023
Indicates stocks that currently have no sellers in the market, possibly due to high demand or limited supply.
Nifty and Sensex rebounded today, erasing yesterday’s losses, fuelled by positive comments from the US Federal Reserve and robust economic growth, illustrated by October’s second-highest GST collection.
Here are today’s highlights.
All sectors ended the day in the green, led by Real Estate stocks, followed by gains in PSU Banks and Metals.
Q2 earnings reports had notable movers, with Britannia emerging as the top gainer on the Nifty, while Tata Steel experienced significant volatility. Reliance Industries is considering its largest-ever bond offering, with a goal of raising 15,000 crore rupees.
Kotak Mahindra Bank made headlines with Zurich Insurance’s plan to acquire a 51% stake in Kotak Mahindra General Insurance for Rs 4,051 crore. REC reached a new all-time high.
Ambuja Cement announced its plans to complete the acquisition of Sanghi Industries by the end of December.
JK Tyre is investing Rs 1,025 crore in a new manufacturing unit.
In the IPO arena, Mama Earth’s IPO was oversubscribed 8 times on the final day of subscription.
Following are the buyers only stocks which are trading below Rs 100:
| Security Name | LTP / Close |
|---|---|
| LIBORD | 10.08 |
| SEASONST | 16.91 |
| BANASFN | 20.77 |
| SHALIWIR | 21.96 |
| PRATIKSH | 22.71 |
| INDUSFINL | 22.97 |
| TIHIL | 32.08 |
| CANDOUR | 36.26 |
| TRADEWELL | 40.62 |
| STARLOG | 41.05 |
| JAIPAN | 41.43 |
| RASRESOR | 45.67 |
| BNRUDY | 53.56 |
| RDBRIL | 64.06 |
| NDMETAL | 68.17 |
| NETTLINX | 99.21 |
| Note: Above stocks are from BSE X Group only |
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Indian Markets Wrap-Up (March 4th - 8th)
Highlights:
- New All-Time Highs: Both Sensex and Nifty reached record highs this week.
- Broader Markets Shine: Nifty Midcap and Smallcap outperformed, gaining 0.22% and 0.85%, respectively.
- Sectoral Spotlight: Nifty Media surged 2.5%, while Nifty Bank experienced moderate losses.
- Key Takeaways: Fed cautious on rate cuts, oil prices rise on lower US crude inventories and potential future rate cuts.
Overall, a positive week for Indian markets with broad participation and sectoral strength, despite some caution from the Fed.