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Indian Indices
I)Nifty: opened at 23168 and touched a high of 23402, then a low of 23132 and closed at 23350 with a total of +159 points in Positive.
II) Bank Nifty: opened at 49917 and touched a high of 50672, then a low of 49891, and closed at 50593 with a total of +530 points in Positive.
III) CNX Finance: opened at 24316 and touched a high of 24604, then a low of 24294, and closed at 24567, with a total of +258 points in Positive.
IV) Nifty Mid Select: open 11352 and touched a high of 11528, then a low of 11319 and closed at 11507, with a total of +142 points in Positive.
NSE Advance and Decline
Nifty 500 Top Gainer Market
Nifty 500 TOP LOSER Market
Sectoral Performance
Outperforming stocks vs. Nifty 500over 1 week
Underperforming Stock vs Nifty 500 over 1 week
Stock With Rising Volume
Headlines
Bajaj Finance Ltd.
Stock Performance: Shares of Bajaj Finance rose by 2.75% to ₹8,918.60, surpassing its previous 52-week high of ₹8,878.00 set on March 19. This increase occurred during a favorable trading session, with the BSE Sensex Index rising by 0.73% to 76,905.51. Bajaj Finance outperformed competitors such as Mahindra & Mahindra Financial Services Ltd., which saw a rise of 1.29%. Trading volume for Bajaj Finance reached 72,893, significantly higher than the 50-day average of 40,008. MarketWatch+4MarketWatch+4MarketWatch+4
Manappuram Finance Ltd.
Stake Acquisition: Shares of Manappuram Finance surged 6% following the announcement that U.S. private equity firm Bain Capital plans to acquire an 18% stake in the company for $508 million. This investment is expected to aid in management succession plans, as the long-serving CEO, V.P. Nandakumar, transitions to a non-executive chairman role. Analysts view the deal positively, with potential for strategic influence and the ability to nominate key roles, including the CEO. This investment arrives amid favorable gold mortgaging conditions and is anticipated to spur growth in Manappuram's gold loan segment, which constitutes 75% of its revenue. Reuters+1Reuters+1
Maruti Suzuki India Ltd.
Stock Performance: Maruti Suzuki India's shares saw a marginal increase of 0.03% to ₹11,739.55. Despite a generally positive trading day for the stock market, with the BSE Sensex Index up by 0.73% to 76,905.51, Maruti Suzuki's performance was underwhelming compared to some of its peers. Specifically, Ashok Leyland Ltd. climbed 1.62%, Eicher Motors Ltd. rose 1.44%, and Atul Auto Ltd. surged 3.53%. Maruti Suzuki's current price is 14.15% lower than its 52-week high of ₹13,675.00 achieved on August 1. MarketWatch+4MarketWatch+4MarketWatch+4
Dr. Reddy's Laboratories Ltd.
Stock Performance: Shares of Dr. Reddy's Laboratories rose by 1.07% to ₹1,199.30, outperforming the BSE Sensex Index, which increased by 0.73% to 76,905.51. Despite the day's gains, Dr. Reddy's is still 15.55% below its 52-week high of ₹1,420.20, achieved on August 21. Compared to its peers, Dr. Reddy's showed a mixed performance; Lupin Ltd. saw a 1.39% increase, Zydus Lifesciences Ltd. rose 0.15%, and Wockhardt Ltd. surged by 3.30%. The trading volume for Dr. Reddy's was recorded at 48,175, lower than its 50-day average of 72,840. MarketWatch
Infosys Ltd.
Stock Performance: Infosys Ltd. shares fell by 1.34% to ₹1,592.60, despite a positive trading session for the stock market marked by the BSE Sensex Index rising 0.73% to 76,905.51. Infosys' stock is currently 20.64% below its 52-week high of ₹2,006.80, which was reached on December 13. Its performance was mixed compared to competitors, with Tata Consultancy Services Ltd. rising by 0.42% and Wipro Ltd. falling by 1.38%, while HCL Technologies Ltd. saw a slight increase of 0.30%. The trading volume for Infosys was 91,812, lower than the 50-day average of 212,875.
I am Devesh Gupta, a Junior Analyst at Seben Capital, where I specialize in finance with a focus on market research and data analysis. I support investment decisions by translating complex financial data into actionable insights. My role at Seben Capital allows me to contribute significantly to our investment strategies, leveraging my analytical skills to drive success.
