Stock Market Recap: IT and Auto Stocks Lead Gains, FDI Inflows Decline, and IPOs Buzzing
In yesterday’s stock market action, the Indian financial landscape saw a mixed bag of performances, with IT and auto stocks taking the lead in gains, while the banking and metal sectors faced declines. Let’s know deep into the key highlights of the day.
Top Gainers:
- NIFTY 50: The NIFTY 50 index witnessed positive movement, with notable gainers including:
- BPCL: Rs 402.10, ▲ 3.63%
- NTPC: Rs 253.65, ▲ 1.46%
- Cipla: Rs 1,271.50, ▲ 1.46%
- Infosys: Rs 1,457.80, ▲ 1.31%
- Power Grid: Rs 211.60, ▲ 1.27%
Top Losers:
- NIFTY 50: On the flip side, the top losers included:
- IndusInd Bank: Rs 1,470.40, ▼ 2.11%
- Hindalco: Rs 500.25, ▼ 1.30%
- Kotak Mahindra: Rs 1,745.65, ▼ 1.22%
- Adani Ports: Rs 791.90, ▼ 1.18%
- Adani Enterprises: Rs 2,172.65, ▼ 1.09%
Market Insights:
- Foreign Direct Investment (FDI): Equity inflows in India experienced a 24% year-on-year decline, reaching $20.48 billion in April-Sept 2023.
- Corporate Developments:
- Toyota: The automaker is set to invest Rs 3,300 crore in establishing its third manufacturing plant in India.
- DGCA Penalty: The Directorate General of Civil Aviation (DGCA) imposed a penalty of Rs 10 lakh on Air India.
Stocks in the News:
- GAIL: The Punjab Energy Development Agency has partnered with GAIL to establish 10 compressed biogas projects and other renewable energy initiatives in the state.
- Tata Motors: Inchcape Plc has been appointed as the distributor for Tata Motors’ commercial vehicles in Thailand.
- CG Power: The company has applied to the government for the setup of an Outsourced Semiconductor Assembly and Test (OSAT) facility.
- Power Finance: PFC Consulting, a subsidiary, has initiated a Special Purpose Vehicle (SPV) for developing an intra-state transmission system.
- Jio Financial: A request has been submitted to the RBI to convert Jio Financial from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC).
IPO Corner:
- IREDA: Total subscription: 4.56, Retail subscription: 4.26. Open till 23 Nov.
- Upcoming IPOs open till 24 Nov:
- Gandhar Oil Refinery: Total subscription: 5.54, Retail subscription: 6.92.
- Tata Tech: Total subscription: 6.55, Retail subscription: 5.44.
- Flair Writing Industries: Total subscription: 2.18, Retail subscription: 2.87.
- Fedbank Financial Services: Total subscription: 0.38, Retail subscription: 0.67.
Market Indices and Currency:
1 Day Change:
- Gold: ₹61,282, ▲ 0.53%
- Silver: ₹73,398, ▲ 0.78%
- USD-INR: ₹83.32/USD, ▼ 0.02%
- Dow Jones: 35,088.29, ▼ 0.18%
- Nasdaq: 14,199.98, ▼ 0.59%
Long Term Returns (Past 20 Years):
- Sensex (India): ▲ 13.97% p.a.
- Nifty (India): ▲ 13.60% p.a.
- Dow Jones (USA): ▲ 6.67% p.a.
- Nasdaq (USA): ▲ 10.59% p.a.
The stock market witnessed sectoral shifts, with IT and auto stocks taking center stage in yesterday’s trading session. As global and domestic factors continue to influence market dynamics, investors are closely monitoring developments in various sectors. Additionally, IPO activity remains robust, indicating sustained investor interest in new opportunities.
Your article helped me a lot, is there any more related content? Thanks!