NIFTY50: 19,395 ▼ 48 (-0.2%)
SENSEX: 64,832 ▼ 143 (-0.2%)
- Benchmark indices ended lower after a volatile trading session
- Among the NIFTY50 stocks, 28 closed in the red
- In October, China saw a 0.2% YoY drop in consumer prices, mainly due to a decline in food costs and factory gate prices
Among the NIFTY sectoral indices, Realty (+1.2%) and Auto (+0.8%) surged the most while NIFTY FMCG (-0.9%) and Oil & Gas (-0.8%) were the top losers.
What's Up
| Top gainers | Today's change |
| M&M | 1,550 ▲ 63 (+4.2%) |
| Apollo Hospitals | 5,300 ▲ 189 (+3.7%) |
| Coal India | 323 ▲ 6.5 (+2.0%) |
What's Down
| Top losers | Today's change |
| Adani Enterprises | 2,219 ▼ 40 (-1.7%) |
| HUL | 2,479 ▼ 39 (-1.5%) |
| Adani Ports | 806 ▼ 13 (-1.5%) |
Market Sentiment
| India VIX | 10.9 ▼ 0.05 (-0.5%) |
| NIFTY MIDCAP 100 | 40,538 ▲ 91 (+0.2%) |
| NIFTY SMALLCAP 100 | 13,303 ▼ 32 (-0.2%) |
| USD-INR | 83.30 ▲ 0.03 (+0.04%) |
Stock Buzz
⭐ Adani Ports Q2 profit stays flat
Adani Ports posted a Q2 net profit of ₹1,762 crore, a 1.4% increase from last year, while revenue stood at ₹6,646 crore, up 27% year-on-year (YoY). The profit was impacted by a ₹455 crore write-off of MAT (minimum alternate tax) credit due to switching to the new tax regime. The company's shares closed 1.5% lower today.
⭐ Realty stock surge amid strong sales
The NIFTY realty index surged 1.2% today, with major players like Sobha, Godrej Properties, Brigade Group and Prestige Group hitting 52-week highs. This rally was driven by increased sales, supported by growing end-user pre-sales, India's economic recovery, stable interest rates and home prices. Additionally, the growing shift of buyers from the unorganised sector to organised players is also benefiting top developers.
⭐ Mazagon Dock's dividend boost
Mazagon Dock's shares rose after the company reported strong Q2 results. The shipbuilder's profits increased by 56% YoY to ₹333 crore, while revenue was up 7% at ₹1,828 crore. Additionally, the company approved an interim dividend of ₹15.3 per share for its shareholders.
⭐ MTAR tech tumbles on weak Q2 results
MTAR Technologies shares slumped by around 11% due to weak Q2 results. For the September quarter, the precision engineering company reported a 17% YoY decline in profit to ₹20.5 crore. However, revenue for the quarter stood at ₹167 crore, a 32.2% YoY increase. The company also lowered its FY24 revenue guidance to ₹670–₹700 crore from ₹830–₹860 crore, citing deferred shipment plans in the clean-energy sector.
⭐ Welspun Corp hits 52-week high after Q2 result
Welspun Corp shares surged 5% following robust September quarter results. The Q2 consolidated revenue reached ₹4,059 crore, a 107% YoY increase, with a net profit of ₹385 crore, compared to a ₹57 crore loss in a year-ago period
IPO Corner
⭐ On the last day of bidding, the IPO of ASK Automotive was subscribed over 51 times. The listing date for the auto component maker is likely to be 20 November 2023.
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