Stock Market Highlights: Pharma and Realty Lead Gainers, PSU Banks Witness a Dip
In the dynamic world of the stock market, yesterday’s trading session witnessed significant movements, with healthcare and pharmaceutical, along with realty stocks, taking the lead as the top gainers. Meanwhile, PSU bank stocks experienced a notable decline.
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Top Gainers in NIFTY 50:
- UltraTech: Rs 9,003.65 ▲ 3.10%
- Airtel: Rs 1,014.70 ▲ 3.03%
- HDFC Life: Rs 690.75 ▲ 2.23%
- Eicher Motors: Rs 3,896.90 ▲ 2.22%
- Apollo Hospitals: Rs 5,528.95 ▲ 1.97%
Top Losers in NIFTY 50:
- Adani Enterprises: Rs 2,358.55 ▼ 1.59%
- Adani Ports: Rs 825.50 ▼ 1.20%
- IndusInd Bank: Rs 1,466.10 ▼ 1.18%
- Power Grid: Rs 208.95 ▼ 1.00%
- Reliance: Rs 2,377.45 ▼ 0.97%
Key Market Insights:
- India’s GDP growth surpassed expectations, reaching 7.6% in the July-Sept 2023 quarter, exceeding RBI estimates of 6.5%.
- The Defence Acquisition Council (DAC) approved a significant procurement proposal of Rs 2.23 lakh crore for defense equipment from domestic companies.
- Infrastructure sector growth in India accelerated to 12.1% in October, up from 9.2% in September.
- The sale of ultra-luxury properties, valued at over Rs 40 crore each, totaled Rs 4,063 crore in 2023, with 588 such homes sold across the top 7 cities, according to Anarock Research.
- India’s fiscal deficit stood at 45% of the full-year target for April-Oct.
Stocks in the News:
- Tata Power collaborated with Kanpur Municipal Corporation to install 12 EV charging stations in Kanpur.
- HG Infra secured a Rs 1,303 crore six-lane construction contract from NHAI.
- Dixon commenced smartphone manufacturing for Xiaomi’s Indian subsidiary at its Noida factory.
- Delta Corp announced its entry into the real estate sector, forming a joint venture with Peninsula Land.
- Tata Coffee’s board approved a Rs 450 crore investment in its Vietnam subsidiary.
- REC’s board approved an increase in borrowing to Rs 1.5 lakh crore for 2023-24, up from Rs 1.2 lakh crore earlier.
IPO Corner:
- Tata Technologies made its stock market debut with an impressive premium of 140%, reflecting strong investor interest and a positive market reception for the company’s initial public offering (IPO). This substantial premium indicates the demand and confidence investors have in Tata Technologies, marking a successful entry into the stock market.
- Gandhar Oil Refinery listed at a premium of 76%.
- Fedbank Financial Services listed at a discount of 1.43%.
Market Performance – 1 Day Change:
- 🥇 Gold: ₹62,690 ▲ 0.48%
- 🥄 Silver: ₹77,262 ▲ 2.40%
- 💲 USD-INR: ₹83.38/USD ▲ 0.06%
- 🇺🇸 Dow Jones: 35,430.42 ▲ 0.04%
- 🇺🇸 Nasdaq: 14,258.49 ▼ 0.16%
Long Term Returns – Past 20 Years:
- 🇮🇳 Sensex: ▲ 13.67% p.a.
- 🇮🇳 Nifty: ▲ 13.29% p.a.
- 🇺🇸 Dow Jones: ▲ 6.64% p.a.
- 🇺🇸 Nasdaq: ▲ 10.43% p.a.
As investors navigate through these market dynamics, keeping a close eye on sectoral movements and key economic indicators becomes crucial for making informed decisions.
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