Stock Market Daily Updates

Stock Market Recap: Large-Cap Stocks Lead Decline, PSU Banks and Metals Surge

In today’s stock market action, large-cap stocks experienced the most significant decline, with the consumer durables and IT sectors emerging as the top losers. On the flip side, the PSU bank and metal sectors saw notable gains. Here’s Some of the key highlights:

Market Overview

• Sector Performance:
• Top Losers: Consumer durables and IT sectors
• Top Gainers: PSU banks and metals
• Regional Comparison:
• All other Asian markets closed positively, providing a contrasting picture to the domestic downturn.

Stock Movements

Top Gainers (NIFTY 50)

1. Coal India: Rs 349.35, ▲ 5.29%
2. Eicher Motors: Rs 3,645.40, ▲ 1.85%
3. Hindalco: Rs 487.50, ▲ 1.05%
4. M&M: Rs 1,540.25, ▲ 0.92%
5. BPCL: Rs 387.10, ▲ 0.78%

Top Losers (NIFTY 50)

1. SBI Life: Rs 1,328.35, ▼ 2.24%
2. Bajaj Finance: Rs 7,360.85, ▼ 1.29%
3. Infosys: Rs 1,373.55, ▼ 1.06%
4. Apollo Hospitals: Rs 5,220.65, ▼ 1.04%
5. Tech Mahindra: Rs 1,131.35, ▼ 0.95%

Market Developments

• Upcoming Holiday: The stock markets will be closed tomorrow (14 Nov) for Diwali Balipratipada.
• Inflation Update: Retail inflation hit a four-month low at 4.87% in October.
• Trade Data: India’s vegetable oil imports rose by 16% to 167.1 lakh tonnes in the oil year ending Oct 2023, as reported by the Solvent Extractors’ Association of India (SEA).
• Exchange News: The Calcutta Stock Exchange (CSE) is expected to resume independent operations by March-April 2024, according to media reports.

Stocks in Focus

• Dilip Buildcon: Successfully completed the construction of a bridge across the Zuari river on the Panjim-Mangaluru section of NH-17/NH-66.
• Signature Global: Plans to invest approximately Rs 2,500 crore in developing residential projects in Gurugram in the second half of the Financial Year 2024.
• Vodafone-Idea (Vi): Bombay High Court has directed the income tax department to refund Rs 1,128 crore to Vodafone-Idea.
• Yes Bank: Received Rs 120 crore from the sale of Non-Performing Assets (NPA) portfolio to JC Flowers ARC.

IPO Corner

Listing:

• Protean eGov IPO: Listed at Rs 792 per share, maintaining its issue price.

Market Indicators

1 Day Change:

• Gold: ₹59,681, ▼ 0.30%
• Silver: ₹69,481, ▼ 1.41%
• USD-INR: ₹83.30/USD, ▼ 0.04%
• Dow Jones: 34,283.10, ▲ 1.15%
• Nasdaq: 13,798.11, ▲ 2.05%

Long-Term Returns (Past 20 Years):

• Sensex: ▲ 13.73% p.a.
• Nifty: ▲ 13.37% p.a.
• Dow Jones: ▲ 6.43% p.a.
• Nasdaq: ▲ 10.21% p.a.

Today’s market showcased a mixed bag of performances, with large-cap stocks facing declines and specific sectors and stocks experiencing notable gains.

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