NIFTY50: 19,811 ▲ 79 (+0.4%)
SENSEX: 66,428 ▲ 261 (+0.3%)
- The benchmark indices snap three-day losing streak
- In all, 38 of the NIFTY50 stocks closed in the green
- Retail sales in the US rose 0.7% MoM in September 2023, indicating robust consumer spending despite high prices and borrowing costs
All of the NIFTY sectoral indices ended higher, with Oil & Gas (+0.7%) and Financial Service (+0.6%) being the top gainers.
What's Up
| Top gainers | Today's change |
| BPCL | 354 ▲ 7.5 (+2.1%) |
| Power Grid | 207 ▲ 4.2 (+2.0%) |
| Coal India | 317 ▲ 5.5 (+1.7%) |
What's Down
| Top losers | Today's change |
| Tata Motors | 656 ▼ 10 (-1.5%) |
| L&T | 3,068 ▼ 33 (-1.0%) |
| UPL | 625 ▼ 5.6 (-0.8%) |
Market Sentiment
| India VIX | 10.6 ▼ 0.37 (-3.3%) |
| NIFTY MIDCAP 100 | 40,733 ▲ 142 (+0.3%) |
| NIFTY SMALLCAP 100 | 13,054 ▲ 113 (+0.8%) |
| USD-INR | 83.25 ▲ 0.05 (+0.07%) |
Stock Buzz
⭐ Bajaj Finance reports robust Q2 result
The non-banking finance company reported a 28% YoY rise in its consolidated net profit to ₹3,551 crore for the September quarter. This was supported by the rise in net interest income (NII). NII grew by 26% YoY to ₹8,845 crore. Meanwhile, the number of new loans booked was up 26% YoY to 8.53 million. Click here to know more about Bajaj Finance results.
⭐ Maruti issues preference shares to Suzuki Motor
The automaker will issue preference shares worth ₹12,841 crore to Suzuki Motor to buy its local manufacturing plant in Gujarat. Post this transaction, Suzuki Motor Corporation’s stake in Maruti will increase to 58.1% from 56.4%. In return, Maruti will get full ownership of the plant, which will help boost its production. Meanwhile, shares of Maruti Suzuki India closed flat today.
⭐ CEAT gains on record Q2 profit
Shares of the tyre maker closed nearly 6% higher today as the company reported a 3,125% YoY rise in its net profit to ₹207.7 crore during the September quarter. Its revenue from operations rose 5.4% to ₹3,053 crore. The company’s expenses under exceptional items dropped during the quarter, leading to a profitability surge.
⭐J Kumar hits 52-week high
J Kumar Infraprojects shares jumped more than 4% to their fresh 52-week high after the company secured a new order worth ₹509 crore. As per order requirement, the company will provide tech accommodation and allied infra for the Command Hospital in Lucknow. The project could take 90 months to be completed.
In other news
⭐ Hero MotoCorp has commenced deliveries of Harley-Davidson X440 across the country. Harley-Davidson X440 made its Indian debut in July 2023. Within a month of its launch, it reported over 25,000 bookings.
⭐ Som Distilleries has entered into a strategic contract manufacturing agreement in Jammu and Kashmir to manufacture its alcoholic beverages. Shares of the company closed 3.3% higher today.
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