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In today’s Stock market report, micro-cap and small-cap stocks took center stage as they witnessed significant gains, while metal and healthcare stocks emerged as the top performers. On the flip side, PSU bank and consumer durable stocks faced some challenges. Let’s delve into the details of what transpired in the stock market today.
Top Gainers and Losers In Stock Market
The NIFTY 50 index showcased a positive performance, with the following companies leading the pack in terms of gains:
- Divi’s Labs climbed to Rs 3,506.70, marking a substantial increase of 4.66%.
- Hero Moto saw a rise of 2.51%, reaching Rs 3,166.90.
- Eicher Motors also registered a positive trend, surging by 2.42% to reach Rs 3,510.95.
- L&T (Larsen & Toubro) displayed a growth of 2.21%, reaching Rs 2,975.45.
- Axis Bank experienced a gain of 2.08%, reaching Rs 1,009.40.
On the flip side, some stocks experienced losses in the NIFTY 50 index:
- SBI (State Bank of India) faced a decrease of 0.66%, bringing its price to Rs 574.35.
- HUL (Hindustan Unilever Limited) dipped by 0.47%, reaching Rs 2,497.40.
- Titan encountered a minor setback, declining by 0.23% to reach Rs 3,267.05.
- Tata Motors experienced a marginal fall of 0.22%, with its price standing at Rs 646.05.
- Cipla saw a decrease of 0.19%, settling at Rs 1,204.10.
Other Market Highlights
In addition to these stock movements, there were several other notable developments in the Indian financial landscape:
- India’s Power Consumption: Power consumption in India showed a strong uptick, rising by 9.4% to approximately 984.39 billion units in the April-October period.
- Vehicle Registrations: Vehicle registrations exhibited a decline of 7.73% year-on-year, with 21.18 lakh vehicles registered last month, according to the Federation of Automobile Dealers Association (FADA).
- Delhi’s Odd-Even Rule: To address air quality issues, Delhi reintroduced the odd-even rule, effective from November 13th to November 20th.
Stocks in the Spotlight
Several companies made headlines today with significant developments:
- L&T Construction: L&T Construction secured a contract to construct the Bhogapuram International Airport project in Andhra Pradesh.
- NTPC: NTPC Group’s installed capacity reached 73,874 MW after its subsidiary commenced the commercial operations of a 50 MW wind energy unit.
- Indian Oil: Indian Oil acquired Mercator Petroleum for approximately Rs 148 crore.
- IEX Power: IEX Power reported an 18% increase in trade volume, with 9,483 million units traded in October.
- Bajaj Finance: Bajaj Finance launched a Qualified Institutional Placement (QIP) to raise funds, with the floor price set at Rs 7,533.81 per share.
- MRF: MRF announced an interim dividend of Rs 3 per share.
IPO Corner
In the world of Initial Public Offerings (IPOs), the subscription and listing status of some companies are as follows:
- ESAF Small Finance Bank IPO has been subscribed 8.32 times, with retail investors subscribing 7.91 times. The IPO is open until November 7, 2023.
- Protean eGov Technologies IPO has been subscribed 1.08 times, with retail investors subscribing 1.50 times. The IPO is open until November 8, 2023.
Upcoming Events
The ASK Automotive IPO is set to open between November 7th and November 9th, with a price range of Rs 268 to Rs 282 per share.
Market Update: International Scene
In international markets, gold and silver experienced slight fluctuations, while the USD-INR exchange rate showed a minimal decline. In the United States, both the Dow Jones and Nasdaq indices posted gains.
Long-Term Returns
Over the past 20 years, Indian markets have exhibited impressive long-term returns. The Sensex and Nifty have shown annual gains of approximately 13.62% and 13.24%, respectively. In the United States, the Dow Jones and Nasdaq have also seen substantial annual growth rates, at 6.41% and 10.12%, respectively.
In summary, today’s Stock market was marked by the rise of micro-cap and small-cap stocks, with notable performances in the metal and healthcare sectors. Despite some losses in certain sectors, the overall market remained positive. Keep an eye on upcoming IPOs and international market movements as you navigate your investment decisions.