In yesterday’s market copy we mentioned that the market may move a bit a higher before resuming its downtrend. This happened in the very first hour today, as the market opened high and quickly reversed and then continued to go down. On Thursday, 1613 stocks advanced, 2050 declined and 127 remained unchanged on the Bombay Stock Exchange (BSE), with an advance decline ratio of 0.78 indicating a negative closing of stocks in broader markets. The persistent elevation of crude oil prices, especially above the $90 mark, raises concerns about inflation and its potential impact on operational margins. On a global scale, close attention is being paid to US GDP data and the upcoming speech by the Federal Reserve chief, as these factors are poised to shape the future trajectory of the markets. The confluence of higher interest rates and US bond yields is influencing Foreign Institutional Investors (FIIs) to sell. The trend of the major indices on Thursday’s trading is given in the table below:
On NSE, 131 securities advanced and closed at a new 52-week high whereas 10 securities sank to close at their new 52-week lows. In sectoral indices, all sectors ended in red. Nifty IT, Nifty FMCG and Nifty Media were among the biggest losers.
ONGC (+0.11%) & Oil India (+1.91%) rise amid increase in crude price, brent rises above $97 per barrel.
Bharat Forge (-0.56%) and Tata Advance System will supply 300 ATGS to Indian Army with an project estimated cost of Rs3000 crore.
Apar Industries (-4.52%) board approved fund raise of Rs1,000 crore via issuance of equity shares, other instruments.
KSB (+1.09%) received an order for 800 solar water pumping systems from department of agriculture, Uttar Pradesh.
FIIs sold $1.6 billion in Indian equities in September, highest since the month of January.
Indian Government extended RoDTEP Export Benefits Scheme until June 2024.
Reliance Jio continued to gain subscribers at the fastest pace while Vodafone Idea continued to lose subscribers.
Subex (-1.67%) KMP sold net 100,000 shares through open market. Action Construction Equipment( -0.71%) insider bought net 4,500 shares through open market. Advanced Enzyme technologies (-0.85%) Promoter sold net 32,319 shares through open market. Page Industries (+0.21%) Promoter sold net 5,792 shares through open market. ADF Foods (-1.18%) Promoter sold net 5,882 shares through open market. Anant Raj (-1.62%) Promoter bought net 297,450 shares through open market. India Cements (-1.31%) insiders sold net 810,000 shares through open market. Krishana Phoschem (+0.52%) Promoter bought net 31,810 shares through open market. Pidilite Industries (-2.70%) Promoter sold net 8,000 shares through open market. Rama Steel Tubes (-1.70%) Promoter sold net 14,000,000 shares through open market
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: