Closing Bell :- Broader indexes lagged the main indices, with the BSE Midcap index falling 1% and the Smallcap index falling 1.7 percent.
Closing Bell: Sensex falls, closed at 65,512 level : While Nifty at 19,512 level
Indian Market
FII AND DII
| FII Sold | 90.29 Cr |
| DII Purchased | 783.25 Cr |
Indian Market News
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- Nifty at 19,500, Sensex down 483 points; all sectors down.
- Indiabulls Real Estate, Godrej Properties, and DLF drove down the BSE Realty Index by 0.5 percent.
- National Fertilizers shares are down more than 2% after LIC reduces its holding.
- Inox Green will sell its whole position in Nani Virani Wind Energy, causing the shares to fall 2%.
- After a massive block deal, Ashok Leyland gains 0.4%.
- Ambuja Cements declined 1.5% following a massive block sale.
- Softbank’s 2.54% investment in Policybazaar parent company causes a 2% drop in PB Fintech.
- Inox Green will sell its whole position in Nani Virani Wind Energy, causing the shares to fall 2%.
- Shree Renuka Sugars buys out Anamika Sugar Mills for Rs 235.5 crore; stock rises
- Titan shares lower despite 20% sales growth and 81 new shop openings in the second quarter.
- Despite a 14.63% increase in Q2 deposits, Bank of Baroda trades flat.
- Solar Industries sets a new milestone after receiving orders worth Rs 1,853 crore from Coal India.
- Shree Renuka Sugars buys out Anamika Sugar Mills for Rs 235.5 crore; stock rises
- Tata Steel’s delivery volumes fell in the second quarter, while stock fell 2%.
- Metropolis Healthcare’s core business revenue increased 13% year on year in the second quarter, owing to volume increases.
- An overseas client places an order worth Rs 72.9 crore with IFL Enterprises.
- Jupiter Hospitals is down 4% as its profit fell 18% in the June quarter.
- Coal India awards a Rs 766 crore deal to a GOCL Corporation subsidiary for the supply of bulk explosives.
- Tata Steel reports 4.99 MT of India production volume in Q2, up 4% year on year.
- An overseas client places an order worth Rs 72.9 crore with IFL Enterprises.
- Inox Green Energy Services will sell its entire investment in Nani Virani Wind Energy.
- The SEBI tech panel has given MCX permission to build a new commodity derivatives platform.
- Som Distilleries has announced a strategic contract manufacturing arrangement for Punjab-based brands.
- The MCX has reached a 52-week high following the SEBI’s approval to create a commodity derivatives market.
- Prestige Estates reports a 69% increase in sales in the first half of fiscal year 24; share price rises to a 52-week high.
- IRB Infra trades flat following a 28% increase in toll revenue in September.
- Adani Energy Solutions buys Sangod Transmission Service; the stock drops 2%.
Indian Market Action
| SENSEX | -483.24 | -0.73% |
65,512.39 |
| NIFTY50 | -141.15 | -0.72% | 19,512.35 |
| BANK NIFTY | -474.10 | -1.07% | 43,886.50 |
INDIAN MARKET MOVERS
| Dr Reddys Labs | 69.95 1.29% | Adani Ports | -40.70 -4.90% |
| HCL Tech | 11.90 0.96% | Hero Motocorp | -82.90 -2.73% |
| TATA Cons. Prod | 5.90 0.67% | HDFC Life | -15.75 -2.50% |
| HUL | 11.90 0.48% | M&M | -33.65 -2.17% |
| TCS | 16.95 0.47% | BPCL | -7.20 -2.07% |
News Updates
Key events this week: Inflation data, major IT companies’ Q2 earnings, Fed Meeting Minutes and more
The week starting October 9 is marked by significant macroeconomic data releases, including CPI and WPI inflation readings for September in India, as well as India’s trade exports, imports, and trade deficit data. Additionally, 14 stocks will debut on Dalal Street, and one Initial Public Offering (IPO) will be launched. Tata Consultancy Services (TCS) will release its Q2 results for India Inc. on October 11, and may consider a buyback of equity shares on the same day. Other major IT companies in India will announce their Q2 results for FY24, including TCS, Infosys, HCL Tech, HDFC AMC, Tata Metaliks, Den Networks, Hathway, HDFC Life, Aditya Birla Money, D’Mart, Dalmia Bharat, and HDFC Bank.
No petrol, diesel price hike likely despite crude oil price surge as elections loom: Moody’s
Moody’s Investors Service predicts that petrol and diesel prices are unlikely to rise due to upcoming elections. The three state-owned fuel retailers, Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd, control 90% of the market. Despite a surge in crude oil prices last year, these retailers have kept prices frozen for 18 months in a row. The firming international oil prices since August have further impacted the margins of these retailers, causing them to turn negative again.
As Israel war rages, oil traders are focused on Iran
As the Israel war continues, oil traders are focusing on Iran, a major oil producer and key supporter of the Hamas group. They don’t expect a massive price surge as there’s no immediate threat to supply. A retaliatory strike against Iran would inflame fears over the Strait of Hormuz, a vital shipping artery Tehran has threatened to shut down. There’s also the prospect of the US cracking down on a resurgent flow of Iranian oil exports. Bob McNally, president of Rapidan Energy Group and a former White House official, believes the “oil-disruption scenario” would be if conflict spread to Iran, but this seems unlikely at the moment.
Exclusive: Govt approves 12 Executive Director appointments at public sector banks
The Union government has approved the appointment of 12 Executive Directors (EDs) positions in public sector banks. The appointment follows 16 candidates recommended by the Financial Services Institutions Bureau (FSIB) in July 2023. Sanjay Rudra, general manager at Bank of Maharashtra, will take charge of Union Bank of India from the date of his appointment. Lal Singh, chief general manager at Union Bank of India, will be appointed as executive director of Bank of Baroda for three years from the date of his appointment.
MCX gets approval from SEBI tech panel to launch new commodity derivatives platform
The Multi Commodity Exchange of India (MCX) has received approval from the SEBI tech panel to launch a web-based commodity derivatives platform (CPD), following several delays with the market regulator. The SEBI Technical Advisory Committee recommended that MCX and MCXCCL may Go-Live with the CDP and inform SEBI about the proposed date for Go Live. The Mumbai-based commodity exchange’s stock has jumped 18% over the past month, closing at Rs 2,047.95 apiece.
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Force Motors announces August production of 3,032 automobiles.
Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.
Hitachi Energy India rises nearly 4% after receiving an order.
Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.
Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.
Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.
Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.
Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e
Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.
Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.
CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.
PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.
L&T rises on rumours of a possible order from Saudi Aramco for a gas project.
Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit
Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.
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