Stock Market Daily Updates

Stock Market Updates: Market Recap: A Day of Decline

The stock market witnessed a downward trend yesterday, with notable shifts in various sectors. Consumer durables and financial services stocks took a hit, while pharma stocks experienced a rise. Let’s delve into the specifics of the market movement.


Sector Performance: Winners and Losers

The Winners: Pharma Shines

Pharma stocks emerged as the stars of the day, outperforming other sectors. Sun Pharma led the gainers on NIFTY 50, closing at Rs 1,337.00 with a 2.93% increase. Tech Mahindra, Cipla, Tata Motors, and M&M also secured spots among the top gainers.

The Losers: Consumer Durables and Finance Struggle

On the flip side, consumer durables and financial services faced challenges. LTIMindtree, NTPC, HDFC Bank, Titan, and Power Grid were among the top losers on NIFTY 50, experiencing declines ranging from 2.34% to 10.73%.


Global Market Overview

Europe and Asia Diverge

While all other European markets closed positively, the Asian markets presented a mixed picture. With the exception of Japan, all Asian markets ended in the green, highlighting regional variations in market sentiments.


Individual Stock Movements

Top Gainers and Losers

Top Gainers:

  1. Sun Pharma: Rs 1,337.00 ▲ 2.93%
  2. Tech Mahindra: Rs 1,358.00 ▲ 2.36%
  3. Cipla: Rs 1,320.00 ▲ 2.01%
  4. Tata Motors: Rs 819.60 ▲ 1.74%
  5. M&M: Rs 1,617.30 ▲ 1.23%

Top Losers:

  1. LTIMindtree: Rs 5,602.00 ▼ 10.73%
  2. NTPC: Rs 299.60 ▼ 3.14%
  3. HDFC Bank: Rs 1,490.00 ▼ 3.09%
  4. Titan: Rs 3,737.90 ▼ 2.41%
  5. Power Grid: Rs 233.60 ▼ 2.34%

Corporate Highlights

Quarterly Results

IndusInd Bank reported a 17% increase in net profit to Rs 2,298 cr, accompanied by an 18% rise in Net Interest Income (NII) to Rs 5,296 cr.

Infrastructure and Aviation

The Ministry of Highway has earmarked 53 road projects worth Rs 2.1 lakh cr for the build-operate-transfer model. Meanwhile, Akasa Air has placed an order for 150 Boeing 737 MAX narrowbody planes.


Stocks in the News

Several companies made headlines:

  • HCL and Foxconn announced a joint venture for a semiconductor assembly and testing unit in India.
  • Coal India received approval for equity investments in thermal power plants.
  • Aarti Industries secured a Rs 6,000 cr contract for specialty chemical supply.
  • Sun Pharma is set to acquire the remaining 21.52% outstanding shares of Taro Pharma for Rs 2,891.76 cr.
  • Ashok Leyland bagged an order for 1,225 buses from the Karnataka State.
  • RPSG Ventures plans to raise Rs 284.21 cr through a preferential issue.
  • Welspun Corp’s Saudi subsidiary received orders worth ₹3,000 cr.
  • SBI raised Rs 5,000 cr via additional tier-I bonds at a coupon rate of 8.34%.
  • ONGC’s subsidiary secured a 5-year, $420 million loan from DBS Bank and Bank of Baroda.

Market Indicators: A Quick Glance

1 Day Change:

  • Gold: ₹61,763 ▼ 0.49%
  • Silver: ₹71,569 ▼ 0.46%
  • USD-INR: ₹83.13/USD ▲ 0.02%
  • Dow Jones: 37,266.67 ▼ 0.25%
  • Nasdaq: 14,855.62 ▼ 0.59%

Long Term Returns (Past 20 years):

  • Sensex: ▲ 13.13% p.a.
  • Nifty: ▲ 12.81% p.a.
  • Dow Jones: ▲ 6.52% p.a.
  • Nasdaq: ▲ 10.15% p.a.

Disclaimer: The information provided is based on yesterday’s market data and is subject to change. Investors are advised to conduct thorough research before making any financial decisions.

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