Stock Market Recap: Media and Oil & Gas Lead Gains
Positive Trends Across All Sectors
In a positive turn of events, all sectors closed in the green in yesterday’s stock market. Notably, media and oil & gas stocks saw the most significant gains, contributing to the overall market optimism.
Table of Contents
Asian Markets: Mixed Fortunes
Asian markets displayed a mixed performance, with South Korea, Japan, and Taiwan closing in the red. In contrast, China and Hong Kong witnessed upward movements, adding to the regional market dynamics.
Top Gainers in NIFTY 50
The NIFTY 50 index showcased robust performance with the following top gainers:
- BPCL: Rs 449.55 (▲ 2.30%)
- Power Grid: Rs 232.35 (▲ 2.29%)
- Britannia: Rs 5,059.60 (▲ 2.11%)
- HDFC Bank: Rs 1,686.70 (▲ 1.79%)
- Hindalco: Rs 556.25 (▲ 1.47%)
Top Losers in NIFTY 50
However, some stocks faced declines, including:
- Bajaj Auto: Rs 6,246.35 (▼ 1.86%)
- Bajaj Finance: Rs 7,367.15 (▼ 1.69%)
- Axis Bank: Rs 1,095.40 (▼ 1.34%)
- HCL Tech: Rs 1,422.05 (▼ 1.24%)
- Cipla: Rs 1,221.85 (▼ 1.16%)
Key Developments in Other Sectors
- AEPC’s Free Trade Agreement with Oman: The Apparel Export Promotion Council announced the initiation of a free trade agreement with Oman, potentially impacting the apparel industry positively.
- Idle Planes in Indian Airports: Approximately 164 planes are currently grounded at 15 airports in India, with Delhi airport topping the list with 64 idle planes.
Stocks in the Spotlight
Several stocks made headlines:
- Mazagon Dock: Secured a significant order from the Ministry of Defence worth Rs 1,600 crores.
- AstraZeneca: Plans to launch a breast cancer drug named Enhertu in January 2024.
- SBI: Aims to finalize a 200 million euro Line of Credit (LoC) agreement with the European Investment Bank (EIB) for climate action projects in India.
- LIC: Granted a one-time exemption for achieving a minimum 25% public shareholding by May 2032.
IPO Corner
Subscription Details:
- Happy Forgings: Overall: 82.04 times. Retail: 15.09 times.
- RBZ Jewellers: Overall: 16.86 times. Retail: 24.74 times.
- Credo Brands: Overall: 51.85 times. Retail: 19.94 times.
- Azad Engineering: Overall: 11.11 times. Retail: 11.17 times.
- Innova Captab: Overall: 1.41 times. Retail: 2.13 times.
Listing Premium:
- Inox India: 44%
One Day Changes in Key Markets
- 🥇 Gold: ₹62,451 (▲ 0.10%)
- 🥄 Silver: ₹75,400 (▲ 0.89%)
- 💲 USD-INR: ₹83.27/USD (▲ 0.08%)
- 🇺🇸 Dow Jones: 37,082.00 (▼ 1.27%)
- 🇺🇸 Nasdaq: 14,777.94 (▼ 1.50%)
Long-Term Returns
Over the past 20 years:
- 🇮🇳 Sensex: ▲ 13.55% p.a.
- 🇮🇳 Nifty: ▲ 13.17% p.a.
- 🇺🇸 Dow Jones: ▲ 6.59% p.a.
- 🇺🇸 Nasdaq: ▲ 10.64% p.a.
In summary, yesterday’s stock market showcased positive movements across various sectors, with media and oil & gas taking the lead. The IPO corner witnessed strong subscription numbers, while key developments in individual stocks indicated diverse opportunities and challenges in the market.