Key Takeaways:
- Sensex and Nifty Movement:
The Nifty opened below the 24,400 mark with a gap down but showed resilience by recovering to test the 24,600 level briefly. However, selling pressure returned, and Nifty closed the day down 0.15% at 24,435. Sensex also ended lower, down 0.17%. - Sector Performance:
The IT sector led the gains today, driven by optimistic management commentary. However, it remains to be seen if these gains will hold in the coming sessions. - Global Market Impact:
Global markets showed vulnerability as US markets closed mostly flat overnight. Asian and European markets followed suit, trading cautiously.
Index Performance:
- Sensex: 80,081.98 ▼ 0.17%
- Nifty: 24,435.50 ▼ 0.15%
- Bank Nifty: 51,239.00 ▼ 0.04%
Technical Outlook:
Though today’s decline was moderate, the market remains vulnerable to further downside. Key support levels to watch are near the bullish gap around 24,200, with 24,300 being crucial on the weekly expiry day. On the upside, resistance lies at 24,600, and a breakout above 25,000 could reignite optimism.
Top Gainers:
| Company | Price | Gains |
|---|---|---|
| BAJFINANCE | 7,004.85 | ▲ 4.90% |
| TECHM | 1,732.85 | ▲ 2.14% |
| TATACONSUM | 1,016.00 | ▲ 1.78% |
| BAJAJ-AUTO | 10,550.00 | ▲ 1.75% |
| HDFCBANK | 1,736.20 | ▲ 1.26% |
Top Losers:
| Company | Price | Loss |
|---|---|---|
| M&M | 2,794.30 | ▼ 3.22% |
| SUNPHARMA | 1,836.70 | ▼ 2.69% |
| EICHERMOT | 4,660.70 | ▼ 2.07% |
| SHRIRAMFIN | 3,194.00 | ▼ 1.86% |
| POWERGRID | 316.80 | ▼ 1.84% |
News & Updates:
- Bajaj Finserv:
Reported an 8% YoY rise in net profit for Q2 FY25, reaching ₹2,087 crore, driven by higher interest and insurance premium income. Total revenue rose 29%. - TVS Motors:
Shares fell 3% despite reporting a 23% YoY growth in net profit to ₹663 crore, falling short of market expectations. - Hyundai Motor India:
Shares surged 6% to ₹1,929 on its market debut but closed 7% lower at ₹1,900. - Dr Lal PathLabs:
Q2 profit increased 18% YoY to ₹130.80 crore, beating estimates. - SBI Life:
Q2 net profit grew by 39.3% YoY to ₹529 crore but missed analysts’ expectations of ₹730 crore. - GMR Group:
Announced a ₹6,300 crore investment deal with a subsidiary of the Abu Dhabi Investment Authority. - Paytm (One97):
Reported a Q2 net profit of ₹928.30 crore, boosted by a one-time income from selling its ticketing platform to Zomato. - IPO Updates:
- Waaree Energies IPO was subscribed 79.29 times on the last day.
- Deepak Builders & Engineers IPO was subscribed 40.79 times.
- Godavari Biorefineries IPO opened on October 23 with a price range of ₹334-₹352, aiming to raise ₹554.75 crore. The subscription ends on October 25.
Index Expiry for the Next Trading Day:
- NSE NIFTY
Stocks & Sectors on Radar:
- Stock: JSWSTEEL (Bearish)
- Sector: Metals (Bearish)
Commodity Market Watch:
| Commodity | Price | Change |
|---|---|---|
| Crude Oil | 5,946.00 | ▼ 1.56% |
| Natural Gas | 192.10 | ▼ 1.34% |
| Gold | 78,732.00 | ▲ 0.10% |
| Silver | 99,375.00 | ▼ 0.60% |
Note: Commodity prices reflect the upcoming futures expiry as of 6 PM.
Stay updated with more insights and market movements tomorrow!