Indian stock market 2024 interim budget

Stock Market Daily Updates

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Stock Market Report: Realty and Media Soar, Auto and Pharma Stocks Decline

In the dynamic world of the stock market, today’s headlines highlight a mixed bag of performances. Realty and media stocks took center stage, rising notably, while auto and pharma stocks faced declines. Let’s dive into the key highlights and market movements for the day.

Market Overview

The Indian stock market witnessed a day of contrasting fortunes. Realty and media stocks were the stars of the day, experiencing significant gains. However, it was a different story for auto and pharma stocks, which faced substantial declines.

While India managed to shine, other Asian markets didn’t fare as well. With the exception of Japan, all other Asian markets ended the day in the red.

Top Gainers

The NIFTY 50 index showcased some of the day’s top gainers, including:

  1. SBI Life – Their stock price increased by 3.14%, reaching Rs 1,367.85.
  2. Titan – A notable gain of 2.35% pushed the stock price to Rs 3,189.65.
  3. HDFC Life – The stock saw a rise of 1.77% and reached Rs 618.35.
  4. Kotak Mahindra – Their stock price climbed by 1.28%, closing at Rs 1,739.40.
  5. Asian Paints – A more modest gain of 0.96% saw the stock reach Rs 2,995.70.

Top Losers

On the flip side, here are some of the day’s top losers within the NIFTY 50 index:

  1. M&M – The stock price of Mahindra & Mahindra fell by 2.62% to Rs 1,458.60.
  2. Sun Pharma – A decrease of 2.39% brought the stock price to Rs 1,088.60.
  3. Eicher Motors – The stock saw a decline of 1.85%, closing at Rs 3,295.55.
  4. LTIMindtree – With a 1.72% drop, the stock reached Rs 5,060.40.
  5. ONGC – Their stock price slipped by 1.40% to Rs 186.15.

Quarterly Results

Quarterly results provided a mixed bag for some of India’s key companies:

  • L&T reported a substantial 45% year-on-year increase in net profit, reaching Rs 3,223 crore. Their revenue also rose by 19% to Rs 51,024 crore.
  • Airtel, however, saw a 37.5% decrease in net profit, which fell to Rs 1,340.7 crore. On the positive side, their revenue increased by 7.28% to Rs 37,043 crore.

Market Developments

Beyond individual stock movements, some significant market developments took place:

  • The Bombay Stock Exchange (BSE) announced an increase in transaction charges for Sensex equity derivatives. These changes will be effective from November 1, 2023, and will apply to the nearest expiry contracts.
  • The average price of onions in Delhi soared to Rs 78 per kilogram, while the all-India average stood at Rs 50.35 per kilogram, as reported by the Department of Consumer Affairs.
  • Wistron Corp approved the sale of its Indian manufacturing factory to Tata Group, paving the way for Tata Group to start assembling iPhones in India.
  • India’s net natural gas production showed a promising 6.65% year-on-year increase, reaching 2,976.01 million metric standard cubic meters per day in September 2023, according to the Petroleum Planning and Analysis Cell.

Stocks in the Spotlight

Several companies made headlines with their recent developments:

  • Indian Oil announced a dividend of Rs 5 per share.
  • Reliance Industries opened the Jio World Plaza in Mumbai’s Bandra Kurla Complex (BKC) area.
  • Colgate-Palmolive received an income tax order worth Rs 170 crore.
  • Shareholders of Butterfly Gandhimathi rejected a merger proposal with Crompton Greaves Consumer Electricals.
  • L&T secured an offshore project for a gas compression plant worth over Rs 15,000 crore in the Middle East.

IPO Corner

The IPO market had its share of action:

  • Cello World IPO witnessed strong interest with a subscription rate of 1.44 times. Retail investors subscribed 1.04 times.
  • Honasa Consumer IPO had a subscription rate of 0.13 times, with retail investors showing slightly more interest at 0.34 times.
  • Muthoot Microfin received approval from SEBI for its upcoming IPO.

One-Day Changes In Stock Market

A quick look at the one-day changes in some other markets:

  • Gold saw a slight increase of 0.05% and was priced at ₹61,322.
  • Silver experienced a decline of 0.63%, reaching ₹72,420.
  • The exchange rate of USD-INR remained stable at ₹83.26 per USD.
  • In the US, the Dow Jones index rose by 1.58% to reach 32,928.96.
  • Similarly, the Nasdaq climbed by 1.16% to stand at 12,789.48.

Long-Term Returns

Long term return stock market

Looking at the long-term picture, here are the past 20 years’ annual returns for key indices:

  • Sensex in India showed an impressive annual growth of 13.69%.
  • Nifty in India also exhibited robust growth at 13.35% per annum.
  • In the US, the Dow Jones had a more modest annual growth of 6.25%.
  • Meanwhile, the Nasdaq in the US had an annual growth rate of 9.90%.

The stock market remains a dynamic and ever-changing landscape, and today’s highlights reflect the complex interplay of various factors that influence stock prices and market sentiment. Investors continue to keep a close watch on these developments, seeking opportunities and navigating challenges in this ever-evolving financial ecosystem.

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