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Indian Indices
I)Nifty: opened at 24604 and touched a high of 24675 then a low of 24527 and closed at 24548 with a total of - 93 points in Negative.
II) Bank Nifty: open 53201 and touched a high of 53537 then a low of 53174 and closed at 53216 With a total of - 174 points Negative.
III) Fin Nifty: open 24717 and touched a high of 24858 then a low of 24695 and closed at 24726 With a total of - 76 points in Negative.
IV) Nifty Mid Select: open 13149 and touched a high of 13160 then a low of 13058 and closed at 13071 With a total of - 62 points in Negative.
NSE Advance and Decline
Nifty 500 Top Gainer
Nifty 500 TOP LOSER
Sectoral Performance
Outperforming stocks vs nifty 500over 1 week
Underperforming Stock vs Nifty 500over 1 week
Stock With Rising Volume
Headlines
Sector Highlights:
Information Technology (IT): The IT sector experienced a rally, with the Nifty IT index rising by 1.3%. This uptick was driven by expectations of a U.S. Federal Reserve rate cut, which is anticipated to benefit Indian IT companies due to their significant revenue exposure to the U.S. market. Reuters
Energy and Public Sector Banks: Both sectors faced declines, with energy stocks down 0.5% and public sector banks decreasing by 0.7%. Reuters
Notable Stock Movements:
Tech Mahindra: Shares rose by 1.67% to ₹1,789.75, outperforming the broader market. The stock is nearing its 52-week high of ₹1,800.00. MarketWatch
Reliance Industries: The stock declined by 1.11% to ₹1,263.85 but still outperformed some of its sector peers. It remains below its 52-week high of ₹1,608.95. MarketWatch
Hindustan Unilever: Shares fell by 2.42% to ₹2,344.55, underperforming the market and its competitors. The stock is significantly below its 52-week high of ₹3,034.50. MarketWatch
Wipro: The stock remained steady at ₹309.00, close to its 52-week high of ₹310.35, indicating resilience amid a generally weak market. MarketWatch
HCL Technologies: Shares increased slightly by 0.28% to ₹1,935.65, nearing its 52-week high of ₹1,942.30, showcasing strength in the IT sector. MarketWatch
Initial Public Offering (IPO):
Vishal Mega Mart: The budget retailer's ₹80 billion IPO was fully subscribed by the second day, driven by strong demand from non-institutional investors. The offering received bids for 835.5 million shares against 756.8 million available, indicating robust investor interest. Reuters
Global Context: Global markets presented a mixed picture, with investors awaiting decisions from central banks, such as the European Central Bank's anticipated rate cut. Asian markets showed varied performances, with Chinese indices rising amid economic planning meetings, while Japan's Nikkei 225 gained due to technology share increases.
Techpreneur and adept trader, Sauravsingh Tomar seamlessly blends the worlds of technology and finance. With rich experience in Forex and Stock markets, he's not only a trading maven but also a pioneer in innovative digital solutions. Beyond charts and code, Sauravsingh is a passionate mentor, guiding many towards financial and technological success. In his downtime, he's often found exploring new places or immersed in a compelling read.
