Stock Market Daily Updates

Stock Market Recap: Healthcare and Pharma Lead Gainers, Banking and Oil & Gas Stocks Decline

In yesterday’s stock market activity, the healthcare and pharma sectors emerged as the top gainers, while banking and oil & gas stocks faced a decline. Let’s take a closer look at the key highlights from the market and other notable developments.

Top Gainers:

Healthcare and pharma stocks dominated the market gains, with notable performers including:

• NIFTY 50
• SBI Life: Rs 1,413.95, up by 3.97%
• HDFC Life: Rs 651.80, up by 2.65%
• Apollo Hospitals: Rs 5,478.95, up by 2.63%
• L&T: Rs 3,109.00, up by 1.90%
• Hero Moto: Rs 3,334.75, up by 1.67%

Top Losers:

Conversely, the top losers in the market were:

• NIFTY 50
• SBI: Rs 563.05, down by 3.69%
• Axis Bank: Rs 994.35, down by 3.12%
• ONGC: Rs 196.35, down by 2.70%
• BPCL: Rs 390.25, down by 2.11%
• Bajaj Finance: Rs 7,221.00, down by 1.92%

Market Overview:

In other Asian markets, all except Hong Kong closed positively, indicating a mixed regional sentiment.

Telecom Sector Insights:

• Jio added 32.4 lakh users in August.
• Airtel gained 12.17 lakh wireless subscribers.
• Vodafone-Idea (Vi) lost 49,782 users.

Patent Milestone:

The Indian patent office has achieved a record high, granting 41,010 patents in the current financial year until November, as announced by Union Minister Piyush Goyal.

Infrastructure and Economic Indicators:

• The speed of national highway construction in India averaged 20.78 km-per-day during the first 7 months of the current financial year, according to the Ministry of Road Transport and Highways.
• Domestic air passenger traffic increased by 11% year-on-year to 1.26 crore passengers in October.

Tech and Market Trends:

• India’s PC market, including desktops, notebooks, and workstations, experienced a 14% year-on-year increase, recording 45 lakh units in shipments in the July-Sept quarter 2023, according to the International Data Corporation.

Financial News:

• The Reserve Bank of India (RBI) is set to conduct a 14-day variable rate reverse repo (VRRR) auction for Rs 50,000 crore on 17 Nov.
• The National Payments Corporation of India (NPCI) has directed payment apps and banks to deactivate UPI IDs and numbers inactive for over a year.

Stocks in the Spotlight:

• SBI plans to launch its banking mobile app Yono Global in Singapore and the US.
• JSW Infra wins the bid for the development of a greenfield port at Keni in Karnataka on a Public Private Partnership basis.
• AGS Transact secures a Rs 1,100 crore order for deploying 2,500+ ATMs for SBI over the next 7 years.
• GMR Infra’s Goa International Airport raises Rs 2,475 crore through 20-year non-convertible debenture (NCD) bonds.
• IndiGo has achieved a significant milestone by becoming the first Indian airline to schedule and operate more than 2000 flights in a single day.
• Airtel rolls out its 5G Plus services in all 38 districts of Tamil Nadu.
• TVS Motor signs an import and distribution agreement with Emil Frey for the European market.

IPO Corner:

Upcoming IPO – Flair Writing Industries IPO:

• Open dates: 22-24 Nov
• Price band: Rs 288 to Rs 304 per share

One Day Changes:

• Gold: Rs 60,935, up by 1.23%
• Silver: Rs 73,810, up by 1.45%
• USD-INR: Rs 83.27/USD, up by 0.04%
• Dow Jones: 34,945.47, down by 0.13%
• Nasdaq: 14,113.67, up by 0.07%

Long-Term Returns (Past 20 Years):

• Sensex: 13.82% p.a. (Annualized)
• Nifty: 13.46% p.a. (Annualized)
• Dow Jones: 6.61% p.a. (Annualized)
• Nasdaq: 10.52% p.a. (Annualized)

The stock market exhibited a mixed performance, with healthcare and pharma leading the gainers and banking and oil & gas facing declines. Various economic indicators, technological advancements, and corporate developments continue to shape the market landscape. Investors are advised to stay informed and make decisions based on a thorough understanding of market trends and company-specific updates.

Read More Stock Market Daily Updates