NIFTY50: 19,811 ▲ 121 (+0.6%)
SENSEX: 66,473 ▲ 393 (+0.6%)
- Benchmark indices rose for the second consecutive day
- In all, 37 of the NIFTY50 stocks closed in the green
- Brent crude oil futures declined nearly 1% at $86.6 per barrel amid easing fears of supply disruption due to Israel-Hamas conflict
Among the NIFTY sectoral indices, Auto (+0.9%) and FMCG (+0.8%) were the top gainers, while PSU Bank (-0.7%) was the top loser.
What's Up
| Top gainers | Today's change |
| Hero MotoCorp |
3,097 ▲ 120 (+4.0%) |
| Grasim | 1,982 ▲ 63 (+3.3%) |
| Wipro |
421 ▲ 13 (+3.2%) |
What's Down
| Top losers | Today's change |
| HCL Tech |
1,241 ▼ 20 (-1.6%) |
| Coal India | 301 ▼ 1.9 (-0.6%) |
| LTI Mindtree |
5,235 ▼ 30 (-0.5%) |
Market Sentiment
| India VIX | 10.9 ▼ 0.2 (-2.5%) |
| NIFTY MIDCAP 100 | 40,486 ▲ 200 (+0.5%) |
| NIFTY SMALLCAP 100 | 12,867 ▲ 106 (+0.8%) |
| USD-INR |
83.19 ▲ 0.01 (+0.02%) |
Stock Buzz
⭐ TCS reports flat Q2 result
The IT services provider posted a marginal 0.5% QoQ rise in its consolidated revenue to ₹59,692 crore for the September quarter. Meanwhile, its net profit jumped 2.4% to ₹11,342 crore. The company also announced a second interim dividend of ₹9 per share and a share buyback at ₹4,150 per share worth up to ₹17,000 crore. The buyback price is nearly 15% higher than today’s closing price.
⭐ Chemical stocks rise amid Israel-Hamas war
Chemical stocks such as Tata Chemicals, Deepak Nitrite, Archean Chemical and Aarti Industries rose between 1% and 3% today. This rise comes in anticipation of an increase in chemical prices globally amid the Israel-Hamas war. For instance, the ongoing situation in Israel creates uncertainty about the production and exports of bromine, a key raw material used in the chemical industry. Israel supplies nearly 30% of global bromine requirements. Similarly, prices of benzene, another key chemical, has already jumped 20% in October.
⭐ L&T secures ‘mega’ contract
L&T has secured a mega order worth more than ₹7,000 crore in the Middle East. This new order belongs to the company's hydrocarbon business division. The scope of work involves engineering, procurement and construction of gas compression plants. After the announcement, the company's shares closed 0.3% higher.
⭐ MCX shares hit record high
Shares of the commodity platform operator scaled a new 52-week high, rising for the second straight day. This comes after the company said that its new commodity derivative platform will finally go live from 16 October 2023 after multiple delays.
⭐ Ugro Capital soars on healthy business update
Ugro Capital shares rose 5.8% today after its total assets under management (AUM) increased 73% YoY to ₹7,590 crore during the second quarter of FY24. During the quarter, the NBFC’s collection efficiency, its ability to collect owed debt, also improved by 80 basis points to 97.6%.
Results Corner
⭐ Plastiblends India reported a 16.7% YoY rise in revenue from operation to ₹210 crore for the September quarter. The manufacturing company’s net profit increased over 126% YoY to 9.5 crore.
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