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Domestic equity benchmarks ended lower on Tuesday amid mixed global cues, with the Nifty50 index closing below 25,100. The market failed to hold on to its opening gains, reversing its trend from the first hours of trading and spending the rest of the day in negative territory. Stocks in the automobile, metallurgical and pharmaceutical sectors were the main decliners. There were some bright spots, however, with stocks in the real estate, media and consumer durable sectors gaining ground.
The S&P BSE Sensex fell 152.93 points or 0.19 per cent to 81,820.12. The Nifty 50 index fell 70.60 points or 0.28 per cent to 25,057.35.
HDFC Life Insurance Company (down 3.54%), Bajaj Finance (down 2.73%) and Reliance Industries (down 2.09%) were major drags.
The market as a whole has outperformed the front-line indexes. The S&P BSE Mid-Cap Index rose 0.25% and the S&P BSE Small-Cap Index gained 1.05%.
The scale of the market has been positive. On BSE, 2,068 stocks rose and 1,894 stocks fell. A total of 102 stocks remained unchanged.
The NSE’s India VIX, an indicator of near-term market volatility expectations, rose 0.05% to 13.
Numbers to follow:
The yield on India’s benchmark 10-year federal bond fell 0.10% to 6.887, from 6.894 at the previous close.
In the foreign exchange market, the rupee rose slightly against the dollar. The partially convertible rupee was hovering at 84.0325, compared to its close of 84.0500 in the previous trading session.
MCX Gold futures for December 5, 2024 settlement rose 0.19% to Rs 76,194.
The U.S. Dollar Index (DXY), which tracks the value of the greenback against a basket of currencies, fell 0.20% to 103.09.
The U.S. 10-year bond yield slipped 1.46% to 4.065.
In the commodities market, Brent crude for November 2024 settlement lost $3.70, or 4.78%, to $73.76 per barrel.
Global markets:
Most European stocks fell on Tuesday. The UK’s statistics agency said average salaries excluding bonuses rose 4.9% year-on-year between June and August, falling slightly by 5.1% from May to July.
Most Asian stocks ended higher, after hitting record highs on Wall Street, heading into third-quarter earnings season, while Chinese shares fell amid waning optimism about new fiscal stimulus measures.
Investors weighed South Korea’s trade data, which showed a trade surplus reaching $6.7 billion in September, up from $3.7 billion in August.
Japanese stocks climbed as sentiment was boosted by reports that Tokyo Metro raised $2.3 billion in the country’s biggest IPO in six years.
A rally in technology stocks led to record highs on Wall Street on Monday as attention turned to a series of key earnings and economic figures ahead. The S&P 500 rose 0.77% to a record 5,859.85 points, while the Dow Jones Industrial Average rose 0.47% to a record 43,065.22 points on Monday. The NASDAQ Composite rose 0.87% to 18,502.64, and returned within sight of highs reached earlier this year.
Investors will be watching crucial economic data this week, including September retail sales figures, for clues about the financial health of U.S. consumers.
Actions in the spotlight:
Reliance Industries (RIL) fell 2.09 per cent after the company reported a 3.6 per cent decline in its consolidated net profit at Rs 19,101 crore in Q2FY25 compared to Rs 19,820 crore in second quarter of FY24. Gross revenues increased by 0.8% year-on-year to Rs 258,027 crore in the second quarter. EBITDA declined 2% to Rs 43,934 crore in Q2 FY25 from Rs 44,809 crore in Q2 FY24. EBITDA margin in Q2 FY25 was 17% in Q2 FY25 compared to 17.5% in Q2 FY24.
HCL Technologies rose 0.76%. The company’s consolidated net profit fell 0.52% to Rs 4,237 crore in Q2 FY25 from Rs 4,259 crore in Q1 FY25. Operating revenue increased by 2, 87% YoY to Rs 28,862 crore during the quarter.
Angel One soared 18.38% after the company reported a 39.05% rise in its consolidated net profit (from continuing operations) to Rs 423.38 crore in Q2FY25, up from Rs 304.46 crore recorded in Q2 FY24. Operational revenue increased by 44.55% YoY to Rs 1,514.70 crore in Q2 FY25.
International Travel House (ITHL) jumped 4.81 per cent after the company’s standalone net profit jumped 31.97 per cent to Rs 7.43 crore in Q2FY25 from Rs 5.63 crore posted in Q2 FY24. Operating revenue grew 14.93% YoY (YoY) to Rs 60.94 crore during the quarter ended September 30, 2024.
Sunteck Realty surged 7.53 per cent after the company recorded a 32.66 per cent increase in pre-sales at Rs 524 crore in Q2 FY25 compared to Rs 395 crore in Q2 FY24.
RPP Infra Projects hit a 5% higher circuit after the company said it received an acceptance letter worth Rs 217.61 crore from the Chief Engineer, Konkan and Director Project (EAP) Mumbai .
The Green Energy KPI increased by 0.96%. The company said it has signed power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) for a 620 MW AC (917 MW DC) renewable energy project.
Lupine increased by 0.31%. The pharmaceutical major announced the launch of the first generic version of prednisolone acetate ophthalmic suspension in the United States.
Landmark Cars added 2.03 per cent after the company reported a 13.84 per cent increase in total operating revenue to Rs 1,275 crore in Q2FY25 from Rs 1,120 crore in second quarter of FY24. Revenue from after-sales service and spare parts and others stood at Rs 234 crore (up 10.90% YoY), revenue from vehicle sales was raised to Rs 1,013 crore (up 15.24% YoY) and revenue from used vehicle sales (including commission) added up to Rs 28 crore (down 6.67% YoY). one year).
New announcement:
Shares of Garuda Construction and Engineering closed at Rs 106.83 on the BSE, a premium of 12.45 per cent over the issue price of Rs 95.
The script was quoted at Rs 103.20, a premium of 8.63% over the issue price. The stock hit a high of 120.73 and a low of 100.30. On the BSE, over 32.50 lakh shares of the company were traded on the counter.
IPO Update:
Hyundai Motor India’s initial public offering (IPO) received bids for 1,77,89,457 shares against 9,97,69,810 shares on offer, according to stock market data as of 5:00 p.m. IST on Tuesday (October 15, 2024). The issue was subscribed 0.18 times.
The issue opened for bidding on Tuesday (October 15, 2024) and will close on Thursday (October 17, 2024). The IPO price band is set between Rs 1,865 and Rs 1,960 per share. An investor can bid for a minimum of 7 equity shares and in multiples thereof.
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