Indices at 10:30 am
▼ Nifty50 12,861 (-0.10%)
▼ Sensex 43,921 (-0.07%)
▲ Nifty Midcap 100 18,795 (+0.77%)
▲ Nifty Smallcap 100 6,124 (+0.32%)
In the news
Lakshmi Vilas Bank
- Shares of Lakshmi Vilas Bank (LVB) dropped 20% after RBI enforced the cash-starved bank’s merger with DBS Bank India.
- The entire capital of LVB will be written off, and it will cease to exist post the merger. Further its shares or debentures shall also stand delisted.
Tata Motors
- As per reports, Tata Motors has seen strong sales numbers during Diwali. Bookings nearly doubled as compared to the festive season last year.
- Further, improving demand for luxury cars in China could prove beneficial for Jaguar Land Rover.
- The stock is up 3.9% today and has gained nearly 10% this week.
Sectoral indices
- The Nifty PSU Bank index is up 2.0%, as most PSU banks are trading in the green with Bank of Baroda (+2.8%) and SBI (+2.0%) registering strong gains.
- Meanwhile, the Nifty FMCG index is down 1.0% as large FMCG stocks are witnessing selling pressure. HUL is down 1.8% and Nestle is down 1.4%.
Global markets
- Among the key Asian markets, the Japanese Nikkei 225 is down 0.7% today. Hong Kong’s Hang Seng and China’s SSE Composite are up 0.6% and 0.5%, respectively.
Fact of the day
The BSE Sensex closed above 1,000 for the first time on 25 July 1990.
Source: https://www.bseindia.com/
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Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.