Today’s journey in the Indian share market witnessed a slight detour, as benchmark indices experienced a dip from their recent record highs. The slowdown comes in anticipation of the upcoming US Fed meeting and the release of inflation data.
Key Market Stats:
- Benchmark indices:
- NIFTY50: 20,906 ▼ 90 (-0.4%)
- SENSEX: 69,551 ▼ 377 (-0.5%)
- NIFTY sectoral indices:
- Top gainers: Media (+0.5%) and Metal (+0.3%)
- Top losers: Realty (-1.7%) and Oil & Gas (-1.3%)
- Market sentiment:
- India VIX: 12.71 ▼ 0.04 (-0.35%)
- NIFTY MIDCAP 100: 44,555 ▼ 173 (-0.39%)
- NIFTY SMALLCAP 100: 14,529 ▲ 3.8 (+0.03%)
- USD-INR: 83.37 ▲ 0.02 (+0.03%)
Stock Movement Today:
Notable gainers include:
- HDFC Life: 707 ▲ 34 (+5.1%)
- UltraTech Cement: 9,874 ▲ 203 (+2.1%)
- Baja Auto: 6,244 ▲ 105 (+1.7%)
- SBI Life: 1,485 ▲ 24 (+1.6%)
- Axis Bank: 1,131 ▲ 14 (+1.3%)
While some stocks faced declines, including:
- Apollo Hospitals: 5,430 ▼ 116 (-2.1%)
- Sun Pharma: 1,217 ▼ 24 (-1.9%)
- Maruti Suzuki: 10,350 ▼ 191 (-1.8%)
- Coal India: 347 ▼ 5.8 (-1.6%)
- Eicher Motors: 3,959 ▼ 65 (-1.6%)
Stock Buzz:
IREDA stole the spotlight, surging 218% from its IPO price. The green financing company’s shares were locked in a 20% upper circuit, driven by its foray into retail loans for solar projects under the PM-KUSUM scheme.
Hindalco is set to invest ₹800 crore in a battery foil manufacturing plant in Odisha, aiming to tap into the growing market of electric vehicles and energy storage systems.
Torrent Pharma faced a setback, closing 2% lower after USFDA observations related to its oral-oncology manufacturing facility in Gujarat. The company, however, clarified that there were no data integrity issues and pledged to address the concerns promptly.
BLS International hit a 52-week high, closing 6.9% higher, following a new contract win from the High Commission of India in Canada for visa processing and consular support services.
Spicejet reported a 4.1% dip in its shares after weak Q2 numbers, citing elevated fuel prices impacting operational costs. The company recorded a net loss of ₹431.5 crore, down 48% from the previous year.
IPO Corner:
Investors, take note:
India Shelter Finance is gearing up for its IPO between 13 and 15 December, with a price band of ₹469-493 per share, aiming to raise ₹1,200 crore for its housing finance offerings.
DOMS Industries in the stationery and art products sector is also launching its IPO within the same period, with a price band of ₹750-790 per share and plans to raise ₹1,200 crore.
Stay tuned for more market updates as the market continues its dynamic journey.
