In the stock market yesterday, it was a good day for micro-cap and small-cap stocks as they saw significant gains. This means that the smaller companies performed well. On the other hand, some sectors like Auto and FMCG (Fast-Moving Consumer Goods) also had a great day and were the top gainers. However, sectors like PSU (Public Sector Undertaking) banks and IT (Information Technology) stocks faced losses.
The positive trend in the Indian stock market was also reflected in other Asian markets, which closed in the green as well. It seems like a positive day for investors.
Here are the top gainers and losers from the NIFTY 50 index:
Top Gainers: in Stock market
- Hero Moto – Rs 3,100.85 (up 4.17%)
- Wipro – Rs 421.15 (up 3.29%)
- Grasim – Rs 1,980.10 (up 3.19%)
- UltraTech – Rs 8,343.00 (up 2.26%)
- Dr. Reddy’s – Rs 5,567.60 (up 1.63%)
Top Losers: In Stock Market
- HCL Tech – Rs 1,245.60 (down 1.28%)
- Adani Ports – Rs 814.85 (down 0.57%)
- SBI – Rs 588.35 (down 0.56%)
- TCS – Rs 3,609.90 (down 0.52%)
- Coal India – Rs 301.85 (down 0.46%)
In other financial news,
Systematic Investment Plan (SIP) investments in September 2023 reached an all-time high of Rs 16,420 crore compared to Rs 15,814 crore in August. The number of SIP accounts stood at 7.12 crore, indicating a growing interest in mutual fund investments among individuals.
The Indian space economy is also on the rise, with expectations to reach $44 billion by 2033. This represents about 8% of the global space economy, as stated by the Indian National Space Promotion and Authorization Centre.
Additionally, the government has approved royalty rates of 3% each for lithium and niobium, and 1% for Rare Earth Elements (REEs), which could have an impact on related industries.
In the corporate world, TCS has approved a share buyback of up to Rs 17,000 crore at Rs 4,150 per share and declared a dividend of Rs 9 per share. L&T’s hydrocarbon business has secured an onshore project in the Middle East, while MCX has announced plans to launch a new commodity derivatives platform on October 16. However, Bank of Baroda has faced a setback as the RBI stopped the bank from adding customers to its mobile app, citing supervisory concerns.
Looking ahead, the IPO (Initial Public Offering) of IRM Energy is scheduled to be open from October 18 to 20, with a price band of Rs 480 to Rs 505 per share.
And finally, in the international market:
1 Day Change:
- 🥇 Gold – ₹57,904 (up 0.62%)
- 🥄 Silver – ₹69,450 (up 1.03%)
- 💲 USD-INR – ₹83.21/USD (down 0.07%)
- 🇺🇸 Dow Jones – 33,739.30 (up 0.40%)
- 🇺🇸 Nasdaq – 13,562.84 (up 0.58%)
Long-Term Returns (Past 20 Years):
- 🇮🇳 Sensex – An annual increase of 13.98%
- 🇮🇳 Nifty – An annual increase of 13.59%
- 🇺🇸 Dow Jones – An annual increase of 6.44%
- 🇺🇸 Nasdaq – An annual increase of 10.28%
It’s important to note that the stock market is dynamic, and these numbers can change rapidly. So, it’s crucial for investors to stay updated and make informed decisions.