Stock Market Daily Updates

Stock Market Recap: Micro-Caps and Small-Caps Lead Decline, Nifty 50 Witnesses Limited Gainers

Sectoral Trends

The stock market witnessed a challenging day as micro-cap and small-cap stocks faced significant declines. In Nifty 50, only four stocks managed to secure gains. Notably, the media and metal sectors took the hardest hit, with all sectors closing in the red.

Asian Market Overview

Looking beyond India, other Asian markets had a mixed day. Except for China, all markets closed in the green, showcasing a varied regional performance.

Subheading 3: Winners and Losers in NIFTY 50

Top Gainers:

1. ONGC: Rs 203.20 ▲ 1.45%
2. Tata Consumer: Rs 976.30 ▲ 1.05%
3. Britannia: Rs 4,954.95 ▲ 0.89%
4. HDFC Bank: Rs 1,657.00 ▲ 0.25%

Top Losers:

1. Adani Ports: Rs 1,012.15 ▼ 5.76%
2. Adani Enterprises: Rs 2,783.85 ▼ 5.35%
3. UPL: Rs 572.15 ▼ 4.44%
4. Tata Steel: Rs 129.75 ▼ 4.17%
5. Coal India: Rs 352.15 ▼ 4.03%

Market Highlights

• Reliance Jio led in mobile subscriber additions for September, with 34.7 lakh new users, while Airtel added 13.2 lakh. However, Vodafone-Idea (Vi) faced a loss of 7.5 lakh subscribers.
• The Employees’ Provident Fund Organization (EPFO) experienced a significant increase, adding 15.29 lakh net members in October 2023, marking an 18.22% YoY growth.
• The Reserve Bank of India (RBI) granted full payment aggregator licenses to Razorpay, Cashfree, and Open.
• The Open Network for Digital Commerce (ONDC), a government-promoted initiative, is now operational in over 500 cities and towns in India.
• Taiwan-based Foxconn has applied to establish a semiconductor fabrication facility in India, as announced by Minister of State for Electronics and IT, Rajeev Chandrasekhar.
• After 74 years, Toshiba has been delisted from the Tokyo exchange.

Stocks in Focus

• Adani Energy Solutions has formed a fully-owned subsidiary named Arasan Infra Two, focusing on transmission services.
• Mahindra Logistics plans to sell its complete 39.79% shareholding in Transtech Logistics Pvt Ltd.
• JK Tyre has initiated a Qualified Institutional Placement (QIP) to raise up to Rs 500 crore at a floor price of Rs 358.96 per share.
• BPCL will establish a polypropylene production unit at its Kochi refinery, worth Rs 5,044 crore.

IPO Corner

Subscription Status:

• Motisons Jewellers Subscription: Motisons Jewellers witnessed a remarkable response in its IPO subscription, with an overall subscription rate of 159.61 times. The retail category, reflecting individual investor interest, stood at an impressive 122.28 times. This surge in subscription underscores the enthusiasm and confidence investors have shown in Motisons Jewellers’ potential in the market.
• Suraj Estate Developers: Overall – 15.65 times, Retail – 9.30 times.
• Muthoot Microfin: Overall – 11.52 times, Retail – 7.61 times.
• Happy Forgings: Overall – 7.47 times, Retail – 7.42 times.
• RBZ Jewellers Subscription Status: Overall: 7.15 times Retail: 13.14 times
• RBZ Jewellers witnessed a subscription rate of 7.15 times overall, reflecting the substantial investor interest in the IPO. The retail segment, in particular, saw an impressive oversubscription of 13.14 times, underlining the strong demand from individual investors. This positive response suggests a keen market appetite for RBZ Jewellers’ initial public offering, showcasing confidence in the company’s prospects among both institutional and retail investors.
• Credo Brands: Overall – 6.95 times, Retail – 8.78 times.
• Azad Engineering: Overall – 3.31 times, Retail – 3.93 times.

Upcoming IPO:

• Innova Captab: Bidding dates – 21 to 26 Dec, Price Band – Rs 426 to Rs 448, Issue Size – Rs 570 crore.

Listing Premium:

• DOMS Industries: 77%.
• India Shelter Finance: 25.7%.

Subheading 7: Market Indices and International Trends

1 Day Change:

• Gold: ₹62,390 ▲ 0.22%
• Silver: ₹74,732 ▲ 0.05%
• USD-INR: ₹83.21/USD ▲ 0.01%
• Dow Jones: 37,557.92 ▲ 0.68%
• Nasdaq: 15,003.22 ▲ 0.66%

Long-Term Returns (Past 20 Years):

• Sensex: ▲ 13.60% p.a.
• Nifty: ▲ 13.22% p.a.
• Dow Jones: ▲ 6.69% p.a.
• Nasdaq: ▲ 10.74% p.a.

The market experienced diverse movements across sectors, with a notable downturn in micro-cap and small-cap stocks. Despite challenges, select stocks, including ONGC and Tata Consumer, managed to secure gains. The IPO market remained active, reflecting investor interest, while international markets and commodities displayed varying trends. Investors are advised to stay informed and agile in response to the dynamic market conditions.

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