NIFTY50: 19,671 ▼ 140 (-0.7%)
SENSEX: 65,877 ▼ 551 (-0.8%)
- Benchmark indices end lower, tracking the fall in the Asian and European markets
- In all, 39 of the NIFTY50 stocks closed in the red
- The Chinese economy expanded by 4.9% in the third quarter, beating the market forecast of 4.4%
Among the NIFTY sectoral indices, Pharma (+0.7%) and Media (+0.2%) were the top gainers, while PSU Bank (-1.6%) and Financial Service (-1.2%) were the top losers.
What's Up
| Top gainers | Today's change |
| Cipla | 1,214 ▲ 41 (+3.5%) |
| Dr Reddy | 5,665 ▲120 (+2.1%) |
| Tata Motors | 667 ▲ 11 (+1.7%) |
What's Down
| Top losers | Today's change |
| Bajaj Finance | 7,854 ▼ 239 (-2.9%) |
| Bajaj Finserv | 1,627 ▼ 30 (-1.8%) |
| NTPC | 242 ▼ 3.6 (-1.4%) |
Market Sentiment
| India VIX | 10.9 ▲ 0.27 (+2.5%) |
| NIFTY MIDCAP 100 | 40,367 ▼ 366 (-0.9%) |
| NIFTY SMALLCAP 100 | 13,010 ▼ 44 (-0.3%) |
| USD-INR | 83.27 ▼ 0.02 (-0.04%) |
Stock Buzz
⭐ Polycab India posts strong Q2 growth
The wires and cables manufacturer reported a 26.5% YoY increase in its consolidated revenue to ₹4,217 crore during the September quarter. Meanwhile, its net profit rose more than 58% YoY to ₹429 crore. The company witnessed strong volume growth in the wires & cables business aided by increased demand from the real estate sector. After the result announcement, the company's shares hit a new 52-week high, before witnessing profit booking.
⭐ Mazagon Dock bags new defence order
Mazagon Dock Shipbuilders has signed a new contract with the Ministry of Defence. As part of the deal, the company will construct and deliver one training ship to the Indian Coast Guard (ICG) at a cost of ₹310 crore. Company’s shares closed flat today.
⭐ Bandhan Bank Q2 profit zooms
Private sector lender reported over 11% YoY rise in net interest income (NII) to ₹2,443 crore during the September quarter. Meanwhile, its net profit zoomed nearly 245% YoY to ₹721 crore, mainly due to a fall in loan provisions to ₹636 crore compared to ₹1,280 crore provisioning last year. However, gross non-performing assets (NPAs) of the bank remained steady at 7.3% during the quarter.
⭐ HUDCO plunges after OFS announcement
Shares of the PSU housing finance company declined nearly 11% today after the government proposed to divest up to 7% stake via an offer for sale (OFS). The floor price set for this OFS is ₹79 per share, which is 12.1% lower than yesterday’s closing price.
⭐ Gold rises to one-month high
Gold futures contracts on MCX rose more than 1% today, trading around ₹59,820 per 10 grams, following a rise in international prices. Gold prices are trading near a one-month high as investors move to precious metals amid the geopolitical uncertainty caused by the Israel-Hamas war.
In other news
⭐IRCTC has tied up with Zomato for the delivery of pre-ordered meals. In the first phase, this service will be available across five railway stations in North India. Shares of IRCTC and Zomato closed 1.4% and 1.2% lower today, respectively.
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