Stock Market Daily Updates

Nifty Next 50 and Healthcare Stocks Shine, Small-Caps Surge in Stock Market

In today’s stock market report, we witnessed some interesting trends. The Nifty Next 50 and small-cap stocks took the spotlight as they recorded the most significant gains. Meanwhile, the healthcare and pharma sectors emerged as the top gainers, while the realty and media sectors closed in the red.

Let’s delve deeper into the key highlights of the day:

Top Gainers:

1. Sun Pharma: Sun Pharma was the top gainer among NIFTY 50 stocks, with its share price rising by 1.82% to reach Rs 1,170.95.
2. BPCL: Bharat Petroleum Corporation Limited (BPCL) also had a good day, with a 1.79% increase in its share price to Rs 372.80.
3. NTPC: National Thermal Power Corporation (NTPC) gained 1.40%, with its share price reaching Rs 239.15.
4. Dr. Reddy’s: The pharmaceutical giant Dr. Reddy’s Laboratories saw a 1.24% increase in its share price, reaching Rs 5,404.35.
5. Axis Bank: Axis Bank gained 1.14%, with its share price at Rs 1,020.90.

Top Losers:

1. Hero MotoCorp: Hero MotoCorp was the top loser among NIFTY 50 stocks, witnessing a 1.16% decrease in its share price, which stood at Rs 3,130.25.
2. Bajaj Finance: Bajaj Finance experienced a 0.88% decline, with its share price at Rs 7,495.60.
3. Coal India: Coal India saw a 0.73% drop in its share price, settling at Rs 314.25.
4. Divi’s Labs: Divi’s Laboratories recorded a 0.72% decline, with its share price at Rs 3,481.40.
5. JSW Steel: JSW Steel also fell by 0.72%, with its share price at Rs 748.60.

In other market news, retail holdings in the NSE have seen a significant increase, now standing at 8.75% of the total, compared to 1.85% at the end of September 2020. This demonstrates the growing interest of retail investors in the stock market.

Government-run oil marketing companies (OMCs) reported a consolidated net profit of Rs 27,295 crore in the July-September quarter, indicating a strong financial performance in the sector.

In the world of stock market, some significant announcements were made:

• IRCTC declared a dividend of Rs 2.50 per share.
• Info Edge declared a payout of Rs 10 for each share.
• The Shriram Group revealed its entry into the wealth management and asset reconstruction businesses.
• Jaiprakash Associates defaulted on loans worth Rs 4,258 crore.
• Reliance Industries subsidiary, Alok Industries, received board approval to issue preference shares worth Rs 3,300 crore to its parent company, Reliance Industries.

Now, let’s take a look at the latest happenings in the IPO corner:

Subscription:

• ESAF Small Finance Bank IPO has been subscribed 73.15 times, with retail investors subscribing 16.97 times.
• Protean eGov Technologies IPO has been subscribed 3.23 times, with retail investors subscribing 3.92 times. This IPO is open until November 8, 2023.
• ASK Automotive IPO has been subscribed 0.38 times, with retail investors subscribing 0.57 times. This IPO is open until November 9, 2023.

Listing:

• Honasa Consumer listed at a premium of 1.8%.

In the commodities market, we observed the following changes in one-day returns:

• Gold decreased by 0.98% to reach ₹60,266.
• Silver witnessed a 1.98% drop, with its price at ₹70,796.
• The USD-INR exchange rate rose by 0.07% to ₹83.27 per USD.
• In the US, the Dow Jones index increased by 0.10%, reaching 34,095.86, while the Nasdaq rose by 0.30% to 13,518.78.

For investors looking at long-term returns, the following annual returns over the past 20 years were noted:

• Sensex (India) had an impressive average annual return of 13.71%.
• Nifty (India) also performed well with an annual return of 13.31%.
• In the US, the Dow Jones had an annual return of 6.40%, while the Nasdaq outperformed with an annual return of 10.09%.

today’s stock market showed positive momentum, especially for Nifty Next 50 and healthcare stocks, while small-cap stocks also had a strong showing. It’s important for investors to keep a close eye on these market trends and stay informed about the latest developments.

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