Stock Market Daily Updates

In today’s stock market update, Nifty Next 50 stocks experienced a significant drop, while the realty and media sectors witnessed substantial gains. However, the metal and IT stocks faced a decline.

Looking at the broader Asian market landscape, it was a mixed day. All other Asian markets, except for Hong Kong, managed to close in the green, indicating a varied trading day in the region.

Let’s take a closer look at the top gainers and losers in the NIFTY 50 index:

Top Gainers: In Stock Market

Sun Pharma: Sun Pharma stocks rose by 2.54% to Rs 1,116.20.
BPCL: BPCL witnessed a 2.19% increase, reaching Rs 356.90.
Hindalco: Hindalco showed a modest gain of 0.70% at Rs 462.70.
Bajaj Auto: Bajaj Auto stocks increased by 0.57%, reaching Rs 5,344.35.
Reliance: Reliance stocks experienced a 0.42% rise, hitting Rs 2,297.40.

Top Losers: In Stock Market

Adani Enterprises: Adani Enterprises stocks fell significantly by 3.37% to Rs 2,217.30.
Coal India: Coal India faced a 2.42% drop, reaching Rs 306.65.
SBI Life: SBI Life observed a decline of 2.32% and stood at Rs 1,336.05.
Asian Paints: Asian Paints stocks decreased by 2.04% to Rs 2,934.55.
Adani Ports: Adani Ports experienced a loss of 1.99% and reached Rs 769.10.

In the quarterly results, Hero Moto reported a remarkable rise in net profit, increasing by over 47% year-on-year to reach Rs 1,054 crore. Their revenue also saw growth, going up by 4% to Rs 9,445.42 crore. Sun Pharma also posted positive results with a 6% growth in net profit to Rs 2,385 crore, while their revenue increased by 11.3% to Rs 12,192 crore.

Automakers had a good month, as almost all companies reported year-on-year increases in sales for October:

Maruti Suzuki: Sales rose by 18.92% to 1.99 lakh units.
Tata Motors: Reported a 5.90% increase in sales to 82,954 units.
M&M: Sales increased by 32% to 80,679 units.
Ashok Leyland: Sales went up by 13.46% to 16,864 units.
Eicher Motors: Reported a 2.68% increase in sales to 84,435 units.
Hero Moto: Sales stood at 5.75 lakh units, a significant rise of 26.47%.
TVS Motor: Sales increased by 20.66% to 4.35 lakh vehicles.
Bajaj Auto: Reported a 19.22% rise in sales to 4.71 lakh units.

In other economic news, GST collection in October 2023 rose by 13.4% year-on-year to reach Rs 1.72 lakh crore. The sale of petrol and diesel both saw an increase, with petrol sales rising by 3% and diesel sales increasing by 5%. India and Bangladesh jointly inaugurated the Agartala-Akhaura project, which is expected to significantly reduce the distance between Agartala and Kolkata from 1,600 km to 500 km.

LPG prices have been increased by around Rs 100 per 19 kg cylinder, while jet fuel prices have been reduced by approximately 6%.

In the stock market news, L&T announced plans to incorporate a fabless semiconductor chip subsidiary for Rs 830 crore. NMDC reported a 19% increase in iron ore production for the April-October period. Zydus Lifesciences acquired the UK-based LiqMeds Group in an all-cash deal, and Tata Consumer announced the merger of its three wholly-owned subsidiaries – NourishCo Beverages, Tata SmartFoodz, and Tata Consumer Soulfull.

Upcoming IPOs

In the IPO corner, Cello World IPO has been subscribed 38.90 times, with retail investors subscribing 3.06 times. Honasa Consumer IPO has been subscribed 0.70 times and will remain open until November 2. Blue Jet Healthcare listed at a premium of 9.8%. Upcoming is the Protean eGov Tech IPO, which will be open between November 6-8, with a price band of Rs 752-792 per share.

Now, let’s take a quick look at the day’s market changes:

1 Day Change:

Gold: Gold prices dipped by 0.45% to reach ₹61,040.
Silver: Silver saw a more significant decrease of 1.62%, settling at ₹71,246.
USD-INR: The USD to INR exchange rate showed a slight increase of 0.09%, now at ₹83.33 per USD.
Dow Jones: The Dow Jones index rose by 0.38% to reach 33,052.87 points.
Nasdaq: The Nasdaq index also experienced an increase of 0.48%, now standing at 12,851.24 points.

In the long-term perspective, the past 20 years have seen the following returns:

Sensex: Sensex has grown at an annual rate of 13.48%.
Nifty: Nifty has shown an annual growth rate of 13.16%.
Dow Jones: Dow Jones has had an annual growth rate of 6.26%.
Nasdaq: Nasdaq has outperformed with an annual growth rate of 9.93%.

Keep an eye on the market for the latest updates and trends.