Indian Stock Market Experience Volatility but Close Higher
Table of Contents
Opening Gains and Midday Dip
Indian markets began the day on a positive note, showing signs of optimism. However, around 2:30 PM, a dip occurred, causing some concern among investors. Fortunately, the markets rebounded towards the end of the trading session, finishing the day on a positive note.
Global Markets Join the Green Trend
In a global context, both Asian and American markets echoed the positive sentiment. Notably, Japan’s Nikkei index achieved a significant milestone by closing above 35,000 for the first time in approximately 34 years.
Top Gainers and Losers in NIFTY 50
Winners’ Circle
- Hero Moto: Rs 4,342.20, ▲ 4.93%
- Bajaj Auto: Rs 7,298.85, ▲ 3.47%
- Reliance: Rs 2,719.80, ▲ 2.63%
- Axis Bank: Rs 1,125.75, ▲ 1.69%
- BPCL: Rs 458.70, ▲ 1.65%
Underperformers
- Infosys: Rs 1,494.20, ▼ 1.69%
- Dr Reddy’s: Rs 5,692.45, ▼ 1.64%
- SBI Life: Rs 1,427.80, ▼ 1.63%
- HUL: Rs 2,536.20, ▼ 1.60%
- Wipro: Rs 448.20, ▼ 1.19%
Quarterly Results Overview
Focus on TCS and Infosys
TCS:
- Revenue for Oct-Dec quarter: Rs 60,583 cr (4% YoY increase)
- Net profit: Rs 11,058 cr (2% rise)
- Dividends: Special – Rs 18 per share, Interim – Rs 9 per share
Infosys:
- Revenue: Rs 38,821 cr (1% increase)
- Net profit: Rs 6,106 cr (7% decrease)
- Acquisition: InSemi for Rs 280 cr
Recent Developments and IPO Corner
Key Highlights
- India’s first bullet train expected to operate between Surat and Bilimora by 2026.
- BMW India achieves record sales with 22,940 units in 2023.
Stocks in News
- M&M: India-Japan Fund to invest Rs 400 cr in Mahindra Last Mile Mobility Ltd.
- Polycab India faces stock fall on reports of a tax raid.
- SBI raises $600 million through unsecured fixed-rate notes with a 5-year maturity and a 5% coupon rate.
- RBI waives off a Rs 5 crore penalty on Bank of Baroda.
IPO Corner
- Jyoti CNC subscribed 38.53 times, with retail at 26.17 times.
1 Day Changes and Long-Term Returns
1 Day Change
- Gold: ₹62,191, ▼ 0.16%
- Silver: ₹72,249, ▲ 0.12%
- USD-INR: ₹83.03/USD, ▼ 0.03%
- Dow Jones: 37,695.73, ▲ 0.45%
- Nasdaq: 14,969.65, ▲ 0.75%
Long-Term Returns (Past 20 Years)
- Sensex: ▲ 13.14% p.a.
- Nifty: ▲ 12.80% p.a.
- Dow Jones: ▲ 6.62% p.a.
- Nasdaq: ▲ 10.32% p.a.
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