Stock Market Recap: Healthcare and Pharma Stocks Surge, Banking and Oil & Gas Stocks Decline
In the dynamic world of the stock market, yesterday’s trends showcased a mixed bag of performances. Healthcare and pharma stocks emerged as the top gainers, while bank and oil & gas stocks experienced declines. Here’s a brief overview of the key highlights from the market.
Table of Contents
Top Gainers: Healthcare and Pharma Shine
Healthcare and pharma stocks took the lead, reflecting a positive sentiment in the market. The NIFTY 50 index witnessed remarkable gains, with SBI Life leading the pack, surging by 3.97%. Other notable gainers included HDFC Life (2.65%), Apollo Hospitals (2.63%), L&T (1.90%), and Hero Moto (1.67%).
Top Losers: Banking and Oil & Gas Face Declines
Conversely, banking and oil & gas sectors faced challenges, resulting in significant losses. The NIFTY 50 index’s top losers included SBI (-3.69%), Axis Bank (-3.12%), ONGC (-2.70%), BPCL (-2.11%), and Bajaj Finance (-1.92%).
Other Asian Markets and Telecom Updates
In the broader Asian markets, all except Hong Kong closed in the green, indicating a positive regional trend. On the telecom front, Jio added 32.4 lakh users in August, Airtel gained 12.17 lakh wireless subscribers, while Vodafone-Idea (Vi) experienced a loss of 49,782 users.
Key Economic Indicators
The Indian patent office marked a significant milestone by granting the highest-ever number of patents in the current financial year, reaching 41,010, as reported by Union Minister Piyush Goyal. Additionally, the Ministry of Road Transport and Highways highlighted the speed of national highway construction, averaging 20.78 km per day during the first seven months of the fiscal year.
Business and Market Developments
Several business and market developments made headlines:
- SBI plans to launch its banking mobile app Yono Global in Singapore and the US.
- JSW Infra secured the development of a greenfield port at Keni in Karnataka through a winning bid on a Public Private Partnership basis.
- AGS Transact won a Rs 1,100 crore order for deploying 2,500+ ATMs for SBI over the next seven years.
- GMR Infra’s Goa International Airport raised Rs 2,475 crore through 20-year non-convertible debenture (NCD) bonds.
- IndiGo achieved a milestone by becoming the first Indian airline to record over 2000 planned flights in a day.
- Airtel rolled out its 5G Plus services in all 38 districts of Tamil Nadu.
- TVS Motor signed an import and distribution agreement with Emil Frey for the European market.
IPO Corner
In the upcoming IPO corner, Flair Writing Industries IPO is set to open from November 22 to 24, with a price band ranging from Rs 288 to Rs 304 per share.
Market Indices and International Trends
Closing the update with a glance at the international market indices and long-term returns:
1 Day Change:
- Gold: ₹60,935, up by 1.23%
- Silver: ₹73,810, up by 1.45%
- USD-INR: ₹83.27/USD, up by 0.04%
- Dow Jones: 34,945.47, down by 0.13%
- Nasdaq: 14,113.67, up by 0.07%
Long-Term Returns (Past 20 Years):
- Sensex (India): ▲ 13.82% p.a.
- Nifty (India): ▲ 13.46% p.a.
- Dow Jones (USA): ▲ 6.61% p.a.
- Nasdaq (USA): ▲ 10.52% p.a.
As the market continues to evolve, investors remain keen on navigating the ever-changing landscape to make informed decisions for their portfolios.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?