Stock Market Daily Updates

Indian Stock Market Experience Volatility but Close Higher

Opening Gains and Midday Dip

Indian markets began the day on a positive note, showing signs of optimism. However, around 2:30 PM, a dip occurred, causing some concern among investors. Fortunately, the markets rebounded towards the end of the trading session, finishing the day on a positive note.

Global Markets Join the Green Trend

In a global context, both Asian and American markets echoed the positive sentiment. Notably, Japan’s Nikkei index achieved a significant milestone by closing above 35,000 for the first time in approximately 34 years.

Top Gainers and Losers in NIFTY 50

Winners’ Circle

  • Hero Moto: Rs 4,342.20, ▲ 4.93%
  • Bajaj Auto: Rs 7,298.85, ▲ 3.47%
  • Reliance: Rs 2,719.80, ▲ 2.63%
  • Axis Bank: Rs 1,125.75, ▲ 1.69%
  • BPCL: Rs 458.70, ▲ 1.65%

Underperformers

  • Infosys: Rs 1,494.20, ▼ 1.69%
  • Dr Reddy’s: Rs 5,692.45, ▼ 1.64%
  • SBI Life: Rs 1,427.80, ▼ 1.63%
  • HUL: Rs 2,536.20, ▼ 1.60%
  • Wipro: Rs 448.20, ▼ 1.19%

Quarterly Results Overview

Focus on TCS and Infosys

TCS:

  • Revenue for Oct-Dec quarter: Rs 60,583 cr (4% YoY increase)
  • Net profit: Rs 11,058 cr (2% rise)
  • Dividends: Special – Rs 18 per share, Interim – Rs 9 per share

Infosys:

  • Revenue: Rs 38,821 cr (1% increase)
  • Net profit: Rs 6,106 cr (7% decrease)
  • Acquisition: InSemi for Rs 280 cr

Recent Developments and IPO Corner

Key Highlights

  • India’s first bullet train expected to operate between Surat and Bilimora by 2026.
  • BMW India achieves record sales with 22,940 units in 2023.

Stocks in News

  • M&M: India-Japan Fund to invest Rs 400 cr in Mahindra Last Mile Mobility Ltd.
  • Polycab India faces stock fall on reports of a tax raid.
  • SBI raises $600 million through unsecured fixed-rate notes with a 5-year maturity and a 5% coupon rate.
  • RBI waives off a Rs 5 crore penalty on Bank of Baroda.

IPO Corner

  • Jyoti CNC subscribed 38.53 times, with retail at 26.17 times.

1 Day Changes and Long-Term Returns

1 Day Change

  • Gold: ₹62,191, ▼ 0.16%
  • Silver: ₹72,249, ▲ 0.12%
  • USD-INR: ₹83.03/USD, ▼ 0.03%
  • Dow Jones: 37,695.73, ▲ 0.45%
  • Nasdaq: 14,969.65, ▲ 0.75%

Long-Term Returns (Past 20 Years)

  • Sensex: ▲ 13.14% p.a.
  • Nifty: ▲ 12.80% p.a.
  • Dow Jones: ▲ 6.62% p.a.
  • Nasdaq: ▲ 10.32% p.a.

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