Stock Market Recap: Green Day for Indices, Top Gainers, and Other Market Highlights”
In Stock Market a positive turn of events, all major stock indices, including Sensex, Nifty, and Nifty Pharma, closed in the green yesterday, reflecting a widespread surge in market sentiment. Notably, the realty and IT sectors emerged as the top performers, driving the overall market upswing. The upbeat trend was not limited to the Indian markets alone; other Asian markets also experienced positive closures.
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Among the Nifty 50 stocks, only three were in the red, leading to just three top losers for the day. This highlights the overall strength and resilience of the market on the given day.
Top Gainers:
NIFTY 50
- Eicher Motors: Rs 3,848.30, ▲ 5.57%
- Tech Mahindra: Rs 1,173.75, ▲ 3.75%
- Hindalco: Rs 505.40, ▲ 3.67%
- Tata Motors: Rs 671.55, ▲ 2.80%
- Infosys: Rs 1,410.50, ▲ 2.69%
Top Losers:
NIFTY 50
- Bajaj Finance: Rs 7,224.30, ▼ 1.86%
- IndusInd Bank: Rs 1,493.95, ▼ 1.04%
- Power Grid: Rs 210.15, ▼ 1.01%
In other economic news, India’s exports exhibited a commendable growth of 6.21%, reaching $33.57 billion in October. However, imports were higher at $65.03 billion, resulting in a trade deficit of $31.46 billion.
The Indian government is on track to surpass the Rs 18.23 lakh crore direct tax collection target set for the current financial year, as indicated by CBDT Chairman Nitin Gupta.
The Indian Computer Emergency Response Team (CERT-In) dealt with 13.91 lakh cybersecurity incidents in 2022, underlining the increasing importance of cybersecurity in the digital age.
Stocks in the Spotlight:
- Cipla: Subsidiaries have successfully sold a 51.18% stake in Uganda-based Cipla Quality Chemical Industries.
- Paytm: Set to be included in the MSCI India Index.
- Gland Pharma: Secured approval from US authorities to market a generic product targeting blood pressure.
- PTC Industries: Revealed a multi-year agreement with Safran Aircraft Engines.
- Bajaj Finance: The RBI has instructed the company to halt the sanctioning and disbursing of loans under its products ‘eCOM’ and ‘Insta EMI Card’ immediately.
- Siemens: Siemens AG is planning to acquire an 18% stake in Siemens.
IPO Corner:
Listing: ASK Automotive listed at a premium of around 8%.
Market Indicators:
1 Day Change:
- Gold: ₹60,359, ▲ 0.91%
- Silver: ₹72,256, ▲ 3.02%
- USD-INR: ₹83.12/USD, ▼ 0.24%
- Dow Jones: 34,827.70, ▲ 1.43%
- Nasdaq: 14,094.38, ▲ 2.37%
Long Term Returns:
Past 20 Years:
- Sensex: ▲ 13.81% p.a.
- Nifty: ▲ 13.50% p.a.
- Dow Jones: ▲ 6.56% p.a.
- Nasdaq: ▲ 10.45% p.a.
In summary, yesterday’s stock market showcased a positive trend, with widespread gains in various sectors and a bullish performance in key indices. The robust long-term returns further indicate the overall strength and resilience of the markets over the years. Investors and analysts will be keenly watching to see how these positive trends evolve in the coming days.