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I) Nifty: opened at 22874 and touched a high of 22940, then a low of 22808 and closed at 22907 with a total of +73 points in Positive.
II) Bank Nifty: opened at 49357 and touched a high of 49807, then a low of 49324, and closed at 49702 with a total of +388 points in Positive.
III) CNX Finance: opened at 23994 and touched a high of 24199, then a low of 23968, and closed at 24140, with a total of +170 points in Positive.
IV) Nifty Mid Select: open 11181 and touched a high of 11387, then a low of 11144 and closed at 11352, with a total of +209 points in Positive.
1. Garden Reach Sh - The move comes after German lawmakers passed a spending package on Tuesday, taking a big step towards unlocking billions of Euros in Debt finance for defence and infrastructure spending.
Mastek: The stock has fallen by 4.95%. The drop could be related to market corrections, industry-wide concerns, or news specific to the company, such as profit-taking after a recent rally.
Craftsman: The stock is down by 3.63%. The decline may be due to broader market trends affecting the sector or a company-specific issue impacting investor sentiment.
Phoenix Mills: With a drop of 3.20%, it may be facing challenges specific to the real estate or retail sectors, possibly due to weak consumer demand or changes in retail behavior.
Avanti Feeds: The stock dropped by 2.97%. This might be driven by lower earnings expectations, or possibly because of weak performance in the aquaculture sector or fluctuations in input costs like feed.
Zee Entertainment: The stock fell by 2.58%. This decline could be attributed to competition in the media sector, regulatory challenges, or a decline in viewership affecting ad revenues.
Tech Mahindra: The drop of 2.41% could be due to lower-than-expected growth projections in the IT sector or the stock reacting to negative market sentiment in tech stocks.
Underperforming Stock vs Nifty 500 over 1 week
Tata Steel and JSW Steel Surge Amid Import Tax Proposal
Shares of Tata Steel and JSW Steel rose by 2% and 1.2%, respectively, following the government's recommendation of a 12% safeguard duty on certain steel imports for 200 days. This measure aims to protect the domestic steel industry from cheap imports, particularly from China. mint+2Reuters+2Reuters+2Reuters
Vodafone Idea Advances with 5G Launch
Vodafone Idea's stock increased by nearly 5% after the company launched 5G services in Mumbai. The telecom operator is also in exploratory talks with satellite communication providers, including Elon Musk's Starlink, to enhance coverage in underserved areas. mint+1Reuters+1Reuters
ITC Experiences Decline Amid Market Rally
Despite an overall positive trading session, ITC's shares fell by 1.55%, closing at ₹403.05. The stock remains 19.22% below its 52-week high of ₹498.94, reached on September 27. MarketWatch+4MarketWatch+4mint+4
Reliance Industries Outperforms Market
Reliance Industries' shares rose by 0.72% to ₹1,247.70, contributing to the positive market sentiment. However, the stock is still 22.45% below its 52-week high of ₹1,608.95, achieved on July 8.
