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Nifty 50 closed at 24,199.35 (-284.7, -1.2%), BSE Sensex closed at 79,541.79 (-836.3, -1.0%) while the broader Nifty 500 closed at 22,806.25 (-225.0, -1.0%). Market breadth is in the red. Of the 2,278 stocks traded today, 889 were on the uptrend, and 1,366 went down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,199.4 points. The Indian volatility index, Nifty VIX, rose by 0.5% and closed at around 14.9 points. Swiggy's Rs 11,327.4 crore IPO received bids for 0.3X the available 16 crore shares on offer on the second day of bidding. The retail investor quota got bids for 0.8X the available 2.9 crore shares.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Metal and Nifty Commodities closed were among the worst-performing indices of the day. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 3.6%.

European indices are trading in the green, except Russia’s RTSI and MOEX indices which are trading 0.7% lower each. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the trading session. Arista Networks, Airbnb, Duke Energy Corp, Motorola Solutions, and Transdigm Group among others, are set to report their earnings later today.

• Hindalco Industries sees a short buildup in its November 28 futures series, with open interest increasing by 34.5% and a put-call ratio of 0.7.

• Caplin Point Laboratories rises to its all-time high of Rs 2,176.8 per share as its net profit grows by 13.9% YoY to Rs 130.8 crore in Q2FY25. Revenue increases by 17% YoY to Rs 503.9 crore, helped by an improvement in the US, regulated, and emerging markets. It features in a screener of stocks with increasing revenue for the past eight quarters.

• Abbott India's net profit grows 14.6% YoY to Rs 358.6 crore in Q2FY25, helped by inventory destocking and reduced finance costs. Revenue increases by 9.3% YoY to Rs 1,693.2 crore during the quarter. It appears in a screener of stocks with expensive valuations according to Trendlyne valuation score.

• Motilal Oswal initiates coverage on small-cap rice producer LT Foods with a 'Buy' rating and a target price of Rs 520. The brokerage is bullish on the company, highlighting its strong market share, international expansion plans, and the growing demand for basmati products. With a market share of around 30% in India and 50% in the US, LT Foods has diversified into organic foods and aims for double-digit growth.

  #MarketsWithMC | Motilal Oswal initiates coverage on this small-cap rice player with 'buy' tag, predicts 36% upside ????
  
  Here's more????https://t.co/ZLtsqiKvnc#MotilalOswal#MutualFunds

  — Moneycontrol (@moneycontrolcom) November 7, 2024

• JK Lakshmi Cement is falling as it reports a net loss of Rs 14 crore in Q2FY25 compared to a net profit of Rs 92.7 crore in Q2FY24. Revenue declines by 21.8% YoY to Rs 1,242.7 crore due to lower sales during the quarter. It shows up in a screener of stocks with decreasing net cash flow.

• Swiggy's Rs 11,327.4 crore IPO receives bids for 0.3X the available 16 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 0.8X the available 2.9 crore shares.

• Trent falls sharply as its net profit misses Forecaster estimates by 29.4% despite growing by 46.9% YoY to Rs 335.1 crore due to inventory destocking and lower finance costs. Revenue grows 39.4% YoY to Rs 4,156.7 crore during the quarter. It features in a screener of companies with declining net profit and profit margin (QoQ).

• Five new stocks, including Voltas and Bombay Stock Exchange, will be added to the MSCI Global Standard Index in the November 25 reshuffle. Voltas and BSE are expected to see inflows of $312 million (approximately Rs 2,600 crore) and $259 million (around Rs 2,150 crore), respectively. Meanwhile, three stocks, including Adani Green Energy and Adani Power, will see a reduction in their index weight.

  Here are 5 stocks that will be added to MSCI Global Standard Indexhttps://t.co/d9ayugVeic

  — ETMarkets (@ETMarkets) November 7, 2024

• Avalon Technologies surges to its 52-week high of Rs 705 per share as its net profit grows by 140.1% YoY to Rs 17.5 crore in Q2FY25. Revenue rises by 35.6% YoY to Rs 278.9 crore, driven by an increase in the order book. It appears in a screener of stocks with low debt.

• Sonata Software is falling as its revenue declines by 14% QoQ to Rs 2,189 crore in Q2FY25 due to a reduction in the Indian market. However, net profit grows by 1.1% QoQ to Rs 106.5 crore, helped by lower inventory and finance costs. It shows up in a screener of stocks with weak financials.

• Bharat Global Enterprises hits its 5% upper circuit as it bags an infrastructure engineering order worth Rs 120 crore from Reliance Industries. The order involves the design, engineering, and construction of a full-fledged high capacity fluidised catalytic cracker (FCC) unit.

• The Supreme Court invokes its Article 142 powers to order Jet Airways' liquidation, citing the "peculiar and alarming" five-year delay in implementing the resolution plan. It overturns NCLAT's ruling that permitted ownership transfer to the Successful Resolution Applicant (SRA) without full payment as per the plan.

  #BREAKING#SupremeCourt orders liquidation of Jet Airways after finding that the resolution plan was not implemented.

  — Live Law (@LiveLawIndia) November 7, 2024

• Aurionpro Solutions bags a contract from Chennai Metro Rail Corp (CMRL) to supply its automated fare collection (AFC) systems for Phase II of the Chennai metro. As per the contract, Aurionpro will design, manufacture, supply, install, test, commission, and maintain the AFC systems for CMRL.

• Gujarat Gas rises sharply as its net profit grows by 4.2% YoY to Rs 308.7 crore in Q2FY25, helped by lower raw material costs. However, revenue falls by 0.8% YoY to Rs 3,987.2 crore due to reduced CNG and industrial PNG sales. It appears in a screener of stocks with high volume and high gain.

• Kansai Nerolac is falling as its net profit declines 30.7% YoY to Rs 122.8 crore in Q2FY25, due to higher raw material costs, employee benefits, and depreciation expenses. Revenue declines marginally by 0.3% YoY to Rs 1,951.4 crore during the quarter. It features in a screener of companies with prices below short, medium, and long-term averages.

• Srinivasan Nadadhur, CFO of eClerx Services, notes the financial sector has grown faster than the company's overall average, now accounting for 40% of its revenue. He projects H1FY25 margins at 25.1%, slightly adjusted from the previous guidance range of 24-28%. Nadadhur anticipates Q3 will be affected by project roll-offs (completed projects).

  #2QWithCNBCTV18 | Financial sector grew faster than co avg & contributes 40% to revenue. Q3 will see an impact of roll offs (projects which have come to an end)
  
  See H1 margin at 25.1% vs guidance of 24-28%, some processes will see disruption from AI
  
  Srinivasan Nadadhur, eClerx… pic.twitter.com/oWmdBxpVjI

  — CNBC-TV18 (@CNBCTV18Live) November 7, 2024

• Chambal Fertilisers & Chemicals rises sharply as its net profit grows by 40.8% YoY to Rs 536.4 crore in Q2FY25 owing to inventory destocking. However, revenue declines by 19.7% YoY to Rs 4,390.2 crore, caused by a reduction in the complex fertilisers segment. It features in a screener of stocks with YoY growth in quarterly net profits and profit margins.

• Endurance Technologies is rising as its revenue grows by 14.8% YoY to Rs 2,939.2 crore in Q2FY25, helped by improvements in the two and three-wheeler segments. Net profit increases by 31.3% YoY to Rs 203 crore due to inventory destocking and lower inventory costs. It appears in a screener of stocks with high momentum scores.

• Blue Star falls sharply as its net profit misses Forecaster estimates by 3.4% despite growing by 36.1% YoY to Rs 96.2 crore due to inventory destocking and lower finance costs. Revenue grows by 20.4% YoY to Rs 2,276 crore, driven by improvements in the electro and unitary products segments. It features in a screener of companies with declining revenue every quarter for the past two quarters.

• Trump's 2024 comeback has sparked a global stock rally, but Indian stocks may face volatility from trade tensions and a stronger dollar. Nuvama Institutional Equities warns that slower exports and rising yields could delay RBI rate cuts, increasing market uncertainty amid slowing earnings and high valuations.

  #DonaldTrump's comeback in #USElections2024 election saw a surge in stocks globally.
  
  However, Indian stocks are likely to face increased volatility, say brokerages. #NDTVProfitStocks
  
  Read more ??https://t.co/UR61j5FPzB

  — NDTV Profit (@NDTVProfitIndia) November 7, 2024

• Polyab India bags two orders worth Rs 5,649.3 crore from Bharat Sanchar Nigam (BSNL) to design, build, upgrade, operate and maintain BSNL's middle mile network in Karnataka, Goa, Puducherry, and Bihar.

• Jindal Steel & Power's Q2FY25 net profit declines 38% YoY to Rs 860.9 crore, caused by higher cost of raw materials. Revenue falls 8.4% YoY to Rs 11,248.1 crore due to lower steel sales. It shows up in a screener of stocks with the highest increase in promoter stock pledges.

• Apollo Hospitals Enterprises surges to its all-time high of Rs 7,433.7 per share as its net profit grows 62.6% YoY to Rs 378.8 crore in Q2FY25. Revenue is up 15.6% YoY to Rs 5,627.5 crore, helped by improvements in the healthcare services, retail health & diagnostics, and digital health & pharmacy distribution segments. It features in a screener of stocks with increasing revenue for the past eight quarters.

• Tata Steel is rising as it posts a net profit of Rs 833.5 crore in Q2FY25, compared to a net loss of Rs 6,842.1 crore in Q2FY24, driven by inventory destocking. However, revenue declines 3.2% YoY to Rs 53,904.7 crore, impacted by other Indian and South East Asian operations. It features in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Nifty 50 was trading at 24,448.95 (-35.1, -0.1%), BSE Sensex was trading at 80,276.73 (-101.4, -0.1%) while the broader Nifty 500 was trading at 23,034.05 (2.9, 0.0%)

• Market breadth is ticking up strongly. Of the 1,933 stocks traded today, 1,301 were on the uptick, and 583 were down.

Riding High:

Largecap and midcap gainers today include Apollo Hospitals Enterprise Ltd. (7,424.85, 6.6%), FSN E-Commerce Ventures Ltd. (191.54, 5.5%) and JSW Energy Ltd. (714.80, 4.7%).

Downers:

Largecap and midcap losers today include Adani Energy Solutions Ltd. (964.05, -10.4%), Hindalco Industries Ltd. (648.10, -8.5%) and Trent Ltd. (6,505.50, -6.5%).

Movers and Shakers

34 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included ITI Ltd. (266.49, 14.9%), KIOCL Ltd. (389.65, 13.6%) and DCM Shriram Ltd. (1,255, 12.3%).

Top high volume losers on BSE were Adani Energy Solutions Ltd. (964.05, -10.4%), Hindalco Industries Ltd. (648.10, -8.5%) and Trent Ltd. (6,505.50, -6.5%).

Swan Energy Ltd. (535.90, 8.1%) was trading at 31.0 times of weekly average. Apollo Hospitals Enterprise Ltd. (7,424.85, 6.6%) and KEC International Ltd. (1,050.70, 7.6%) were trading with volumes 10.2 and 9.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks hit their 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (7,424.85, 6.6%), Caplin Point Laboratories Ltd. (2,121.70, 1.3%) and City Union Bank Ltd. (180.92, 0.9%).

Stock making new 52 weeks lows included - Prince Pipes & Fittings Ltd. (474, -1.4%).

18 stocks climbed above their 200 day SMA including C.E. Info Systems Ltd. (2,070, 4.0%) and Narayana Hrudayalaya Ltd. (1,271.05, 1.7%). 16 stocks slipped below their 200 SMA including Adani Energy Solutions Ltd. (964.05, -10.4%) and Brigade Enterprises Ltd. (1,155.45, -4.2%).

Nifty 50 closed at 24,484.05 (270.8, 1.1%), BSE Sensex closed at 80,378.13 (901.5, 1.1%) while the broader Nifty 500 closed at 23,031.20 (351.4, 1.6%). Market breadth is ticking up strongly. Of the 2,289 stocks traded today, 1,826 were in the positive territory and 443 were negative.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 24,484.1 points, in response to the US election results. The Indian volatility index, Nifty VIX, fell around 7.8% and closed at around 14.9 points. Swiggy's Rs 11,327.4 crore IPO received bids for 0.1X the available 16 crore shares on offer on the first day of bidding. The retail investor quota got bids for 0.5X the available 2.9 crore shares.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty FMCG and Nifty Auto closed in the green. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 4.9%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the trading session, as Donald Trump claims victory in the presidential election. Novo Nordisk, Toyota Motor, Qualcomm, Honda Motor, and CVS Health among others, are set to report their earnings later today.

• Relative strength index (RSI) indicates that stocks like Gillette India, Deepak Fertilisers & Petrochemicals Corp, and Syrma SGS Technology are in the overbought zone.

• Trident's Q2FY25 net profit declines by 8.3% YoY to Rs 83.2 crore, caused by higher employee benefits and finance costs. Revenue falls 4.8% YoY to Rs 1,724.3 crore due to a reduction in the towel and paper & chemicals segments. It appears in a screener of stocks with high market cap and lower public shareholding.

• IT stocks like Tata Consultancy Services, Infosys, HCL Technologies, Wipro, and LTIMindtree are rising in trade. All constituents of the broader Nifty IT index are also trading in the green.

• Rites is falling as its net profit declines by 27.8% YoY to Rs 73 crore in Q2FY25, caused by increased employee benefits expenses. Revenue decreases by 7.7% YoY to Rs 562.1 crore due to a reduction in the consultancy and turnkey projects segments. It appears in a screener of stocks with declining return on capital employed (RoCE) over the past two years.

• Sandeep Garg, MD of Welspun Enterprises, highlights the company’s target to achieve an order book of around Rs 17,000-20,000 crore by the end of FY25. He expects orders worth Rs 3,000-4,000 crore from the Department of Telecommunications. Garg also maintains the revenue guidance of Rs 4,000 crore for the year.

  Welspun Ent
  
  Targets 17000-20000 Cr orderbook by end of the year
  
  Maintains 4000 Cr revenue guidance for the year
  
  Expect another 3000-4000 Cr worth orders from DoT
  
  In L1 at 1850 Cr worth orders
  
  https://t.co/PpBwPY0pOR

  — Mangalam Maloo (@blitzkreigm) November 6, 2024

• Axis Direct retains its 'Buy' call on Steel Strips Wheels with a lower target price of Rs 265 per share. This indicates a potential upside of 23.9%. The brokerage expects the company's revenue will grow due to increasing tractor volumes, alloy wheel order growth, expansion into aluminium knuckles & two-wheeler electric motor hub-wheels, and higher demand in the US and European markets. It expects the company's revenue to grow at a CAGR of 9.5% over FY25-27.

• Swiggy's Rs 11,327.4 crore IPO receives bids for 0.1X the available 16 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 0.4X the available 2.9 crore shares.

• Granules India rises sharply as its net profit beats Forecaster estimates by 2.6% despite falling by 4.8% YoY to Rs 97.2 crore in Q2FY25 due to higher employee benefits expenses. Revenue declines by 18.6% YoY to Rs 969.9 crore, caused by a reduction in the North American, Europe, Latin America (LATAM), India, and the rest of the world (ROW) markets. It shows up in a screener of stocks with an increasing trend in non-core income.

• RBI Governor Shaktikanta Das anticipates higher inflation in October compared to September. He hihglight that the central bank remains agile, with no immediate pressure for a rate cut. Das also notes that economic activity remains strong, with the services sector performing well.

  #RBIGovernor | Oct #inflation can be higher than September print, not under any pressure for rate cut. RBI continues to be agile: RBI Governor @DasShaktikanta says pic.twitter.com/CeQqeXbmj6

  — CNBC-TV18 (@CNBCTV18Live) November 6, 2024

• Triveni Engineering & Industries is falling as it reports a net loss of Rs 19.2 crore in Q2FY25 compared to a net profit of Rs 29.1 crore in Q2FY24 due to higher raw materials, inventory, excise duty, employee benefits, and finance costs. However, revenue grows by 8.1% YoY to Rs 1,762 crore, helped by improvements in the sugar and distillery segments. It shows up in a screener of stocks with weak financials.

• Waaree Renewable Technologies surges to its 5% upper circuit as its net profit grows by 160.2% YoY to Rs 53.5 crore in Q2FY25. Revenue rises by 249.7% YoY to Rs 527.9 crore, driven by improvements in the engineering, procurement & construction (EPC) and power segments. It appears in a screener of stocks with improving cash flow from operations over the past two years.

• Berger Paints' Q2FY25 net profit declines by 7.5% YoY to Rs 269.7 crore, caused by higher inventory and employee benefits expenses. However, revenue increases by 0.5% YoY to Rs 2,795.7 crore during the quarter. It shows up in a screener of stocks with prices below short, medium, and long-term moving averages.

• Anthony Cherukara, CEO of VST Tillers Tractors, expects to maintain the EBITDA margins at around 13% in H2FY25, and 11-13% in FY25, due to positive sentiment post a good monsoon. He anticipates revenue growth driven by small farm machines, tractors, and distribution segments.

  #VSTTillersTractors expects to sustain its operational EBITDA margin at around 13% in second half, says CEO Anthony Cherukara.
  
  Read more ??https://t.co/zcB2UkUhBF

  — NDTV Profit (@NDTVProfitIndia) November 6, 2024

• Oil India rises sharply as its net profit surges by 4.8x YoY to Rs 2,016.2 crore in Q2FY25, helped by reduced raw materials, excise duty, inventory, employee benefits, and statutory levies expenses. However, revenue decreases by 3.4% YoY to Rs 8886.9 crore, impacted by the crude oil, natural gas, and refinery products segments. It features in a screener of stocks with the highest recovery from their 52-week lows.

• eClerx Services surges to its all-time high of Rs 3,291 per share as its net profit grows by 25.7% QoQ to Rs 140.2 crore in Q2FY25. Revenue increases 14.8% QoQ to Rs 845 crore during the quarter. It features in a screener of stocks with prices above short, medium, and long-term moving averages.

• Hindustan Zinc falls sharply as its promoter, the Government of India plans an offer for sale (OFS) of 5.3 crore shares (or a 1.3% stake) of the company at a floor price of Rs 505 per share. In case of an oversubscription, the promoter plans to increase the offer size to a 2.5% stake in the company.

• India’s services PMI increases to 58.5 in October from a 10-month low of 57.7 in September, driven by growth in output and consumer demand. The PMI reading, however, stays above the 50 mark for the 39th consecutive month.

  Strong demand revives India services PMI in October https://t.co/kxYCPgNgJZpic.twitter.com/QqD5k161Di

  — Reuters Asia (@ReutersAsia) November 6, 2024

• Indian Energy Exchange's electricity volume rises 4% YoY to 9,642 million units (MU) in October. IEX Green Market achieves a volume growth of 364% YoY to 872 MU.

• JK Tyre & Industries is falling as its net profit declines by 44.2% YoY to Rs 135 crore in Q2FY25 due to higher raw materials and finance costs. Revenue decreases by 6.7% YoY to Rs 3.643.2 crore, caused by a reduction in the Indian and Mexican markets. It shows up in a screener of stocks where promoters decreased shareholding by more than 2% QoQ.

• GAIL (India) rises sharply as its net profit grows by 10.2% YoY to Rs 2,689.7 crore in Q2FY25, helped by reduced inventory, employee benefits, and finance costs. Revenue increases by 3% YoY to Rs 34,258 crore, attributable to improvements in the transmission services, natural gas marketing, petrochemicals, LPG & liquid hydrocarbons, and city gas segments. It features in a screener of stocks with rising net cash flow and cash from operating activities.

• Retail sales for the automotive industry increase 32.1% YoY to 28.3 lakh units in October, shows data from the Federation of Automotive Dealers' Association. Two-wheeler retail sales are up 36.3%% YoY, while cars grow by 32.4% YoY. FADA expects the upcoming wedding season will boost demand for 2W and cars.

  #NewsAlert | FADA Oct Data: Retail sales witnessed significant growth of 32% YoY and 64% MoM
  
  Here are the other highlights????@FADA_India#Autopic.twitter.com/taLlTm1Pvq

  — ET NOW (@ETNOWlive) November 6, 2024

• Swiggy raises Rs 5,085 crore from anchor investors ahead of its IPO by allotting 13 crore shares at Rs 390 each. Investors include Fidelity Investments, Blackrock, HSBC, Nomura, Government Pension Fund Global, Citadel, Mirae Asset India, Nippon Mutual Fund, and Axis Mutual Fund.

• Dr Reddy's Laboratories is rising as its revenue grows by 16.5% YoY to Rs 80,162 crore in Q2FY25, driven by improvements in the pharmaceutical services & active ingredients and global generics segments. It appears in a screener of stocks with improving book value over the past two years.

• Mankind Pharma surges to its all-time high of Rs 2,874 crore as its net profit grows 30.4% YoY to Rs 653.5 crore in Q2FY25. Revenue increases 15.1% YoY to Rs 3,185.9 crore, driven by improvements in the domestic and international markets. It features in a screener of stocks with RSI indicating price strength.

• Titan is falling as its net profit declines by 23.1% YoY to Rs 704 crore in Q2FY25 due to higher raw materials, inventory, employee benefits, finance, and advertisement expenses. However, revenue grows by 15.8% YoY to Rs 14,656 crore, driven by improvements in the watches & wearables, jewelry, and eyecare segments. It appears in a screener of stocks with weakening technicals and share price decline.

• Nifty 50 was trading at 24,262.90 (49.6, 0.2%), BSE Sensex was trading at 79,736.87 (260.2, 0.3%) while the broader Nifty 500 was trading at 22,764.10 (84.3, 0.4%).

• Market breadth is overwhelmingly positive. Of the 1,952 stocks traded today, 1,523 were gainers and 390 were losers.

Riding High:

Largecap and midcap gainers today include Dixon Technologies (India) Ltd. (15,647.60, 8.6%), Supreme Industries Ltd. (4,683.95, 7.4%) and GAIL (India) Ltd. (208.92, 6.4%).

Downers:

Largecap and midcap losers today include Hindustan Zinc Ltd. (513.10, -8.3%), ICICI Prudential Life Insurance Company Ltd. (716.25, -2.2%) and Tube Investments of India Ltd. (4,096.80, -2.1%).

Movers and Shakers

27 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Kaynes Technology India Ltd. (5,872.95, 10.6%), Dixon Technologies (India) Ltd. (15,647.60, 8.6%) and eClerx Services Ltd. (3,284.85, 8.1%).

Top high volume losers on BSE were Hindustan Zinc Ltd. (513.10, -8.3%), Timken India Ltd. (3,350, -2.2%) and Titan Company Ltd. (3,177.05, -1.7%).

CCL Products India Ltd. (719.75, 7.5%) was trading at 79.4 times of weekly average. Granules India Ltd. (579.65, 5.3%) and Medplus Health Services Ltd. (670, 2.1%) were trading with volumes 6.6 and 6.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks overperformed with 52 week highs,

Stocks touching their year highs included - City Union Bank Ltd. (179.38, 0.3%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,391.65, 5.3%) and eClerx Services Ltd. (3,284.85, 8.1%).

34 stocks climbed above their 200 day SMA including GAIL (India) Ltd. (208.92, 6.4%) and Adani Energy Solutions Ltd. (1,076.30, 6.0%). 3 stocks slipped below their 200 SMA including Indus Towers Ltd. (342.05, 0.0%) and ABB India Ltd. (7,164.05, 0.4%).

Nifty 50 closed at 24,213.30 (218.0, 0.9%), BSE Sensex closed at 79,476.63 (694.4, 0.9%) while the broader Nifty 500 closed at 22,679.85 (161.6, 0.7%). Market breadth is in the green. Of the 2,287 stocks traded today, 1,446 were on the uptrend, and 805 went down.

Nifty 50 closed in the green after paring its losses in the afternoon session. The Indian volatility index, Nifty VIX, fell by 3.4% and closed at 16.1 points. Sagility India raised Rs 945.4 crore from anchor investors ahead of its IPO by allotting around 31.5 crore shares at Rs 30 each. 

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty Metal and Nifty Financial Services were among the top-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 3.1%.

European indices are trading higher. Major Asian indices closed in the green, except Australia’s S&P ASX 200 and South Korea’s KOSPI, which closed 0.4% and 0.5% lower, respectively. US index futures are trading in the green, indicating a positive start to the trading session. Apollo Global Management, Thomson Reuters Corp, Emerson Electric, and Marathon Petroleum Corp among others, are set to report their earnings later today.

• Money flow index (MFI) indicates that stocks like Crisil, Gillette India, and Deepak Fertilisers & Petrochemicals Corp are in the overbought zone.

• SJVN is rising as its Q2FY25 revenue grows by 16.5% YoY to Rs 1,108.4 crore, driven by higher generation from the hydro and wind power plants. Net profit rises marginally by 0.3% YoY to Rs 441.1 crore during the quarter. It appears in a screener of stocks with improving book value over the last two years.

• Rail Vikas Nigam rises as it bags an order worth Rs 837.7 crore from the Eastern Railways to construct bridges, retaining walls, level crossing, and side drains, among others, between Kalipahari and Pradhankhuta.

• Alkyl Amines Chemicals rises sharply as its net profit grows by 74.2% YoY to Rs 47.5 crore in Q2FY25. Revenue increases 19.6% YoY to Rs 424.1 crore during the quarter. It features in a screener of stocks with increasing profits over the past three quarters.

• Deepak Goyal, Director & Group CFO of APL Apollo Tubes, highlights the company’s volume guidance of 3.2-3.3 MT for FY25. He projects EBITDA/tonne at Rs 4,000-5,000/tn for H2FY25. Goyal expects the company will be debt-free in the coming 1-2 quarters.

  APL Apollo Tubes says
  
  Guidance for FY25 ???? Volumes at 3.2-3.3mt
  
  H2FY25 EBITDA/tn ???? ?4k-5k/tn
  
  Promoter entity will not reduce stake ?
  
  Priority is to be debt free, then can think about a buyback ????https://t.co/6sVAzqaIHg

  — Nigel D'Souza (@Nigel__DSouza) November 5, 2024

• ICICI Direct maintains its 'Buy' call on Shalby with a lower target price of Rs 310 per share. This indicates a potential upside of 33%. The brokerage believes the company's plans to expand into metros and tier-1 cities and an asset-light franchisee-based expansion in tier II-VI towns will help improve revenue. It expects the firm's revenue to grow at a CAGR of 15.5% over FY25-26.

• VST Industries is falling as its Chief Executive Officer (CEO) & Managing Director Arun Maheshwari tenders his resignation, effective November 5. The company appoints Naresh Kumar Sethi as his successor for a period of five years.

• Saregama India falls sharply as its net profit declines by 6.7% YoY to Rs 44.9 crore in Q2FY25 due to higher operational, employee benefits, advertisement & sales promotion, and royalty expenses. However, revenue grows by 37.1% YoY to Rs 254.4 crore, attributed to improvements in the music, artist management, and video segments. It shows up in a screener of stocks with declining cash from operations over the past two years.

• Ashish Kacholia’s portfolio stock, E2E Networks, hits its 5% upper circuit as Larsen & Toubro enters an agreement to acquire up to 21% stake worth Rs 1,079 crore in the company. L&T will initially buy up to 15% stake through preferential allotment.

  #MarketsWithBS | Ashish Kacholia portfolio stock up 1645% in 15 months; L&T to buy 21% stakehttps://t.co/Ej6659G7Om

  — Business Standard (@bsindia) November 5, 2024

• KEC International is falling as its net profit misses Forecaster estimates by 23.1% despite growing by 53% YoY to Rs 85.4 crore in Q2FY25, helped by reduced erection & subcontracting and finance costs. Revenue increases 13.4% YoY to Rs 5,119.9 crore, driven by the engineering, procurement & construction (EPC) segment. It appears in a screener of stocks with an increasing trend in non-core income.

• Tilaknagar Industries surges to its all-time high of Rs 345 per share as its net profit grows by 57.2% YoY to Rs 58.2 crore in Q2FY25 owing to inventory destocking and lower finance costs. Revenue rises by 10.1% YoY to Rs 826.7 crore during the quarter. It appears in a screener of stocks with PEG lower than industry PEG.

• JK Paper is falling as its net profit plunges by 57.5% YoY to Rs 128.5 crore in Q2FY25, caused by increased raw materials, employee benefits, and finance costs. However, revenue grows marginally by 0.3% YoY to Rs 1,714.9 crore, helped by an improvement in the paper & packaging segment. It shows up in a screener of stocks with RSI indicating price weakness.

• Embassy Office Parks REIT announces the resignation of its CEO, Aravind Maiya, effective immediately, following a directive by SEBI. This comes after concerns about Maiya’s professional background amid an investigation by the National Financial Reporting Authority.

  Embassy Office Parks, India's largest real estate investment trust (REIT), said that #AravindMaiya will be stepping down as CEO of #EmbassyREIT, effective immediately.
  
  Read here: https://t.co/Ia3DHo6Qy0pic.twitter.com/qFWabAKtX4

  — Mint (@livemint) November 5, 2024

• Bata India's Q2FY25 net profit grows by 52.9% YoY to Rs 52 crore, helped by reduced inventory expenses. Revenue rises by 2.4% YoY to Rs 854.3 crore, driven by exclusive brand store additions for Power and Hush Puppies. It appears in a screener of stocks with increasing profits for the past three quarters.

• KP Energy surges to its 5-year high of Rs 636.4 per share as it bags multiple orders from KPI Green Energy to set up renewable energy projects with a total capacity of 1,003.7 MW. The orders include two solar-wind hybrid projects and a solar project to be carried out on an engineering, procurement, construction, and commissioning (EPCC) basis.

• Metal stocks like JSW Steel, Tata Steel, Hindustan Zinc, Hindalco Industries, Vedanta, and Jindal Steel & Power are rising in trade. The broader Nifty Metal index is also trading in the green.

• Bernstein expects a further decline in the Indian stock market, highlighting that the current market prices have not fully factored in the potential economic slowdown. This comes after almost half of the NSE100 companies that released their Q2 earnings missed estimates by more than 4%. It forecasts the Nifty 50 will drop to 23,500 by year-end due to muted growth and weak demand.

  As almost half of NSE100 companies that have released their September quarter results have missed expectations by over 4%, Bernstein has predicted a further decline in the Indian stock markethttps://t.co/fPkV45wM61

  — ETMarkets (@ETMarkets) November 5, 2024

• Procter & Gamble Health surges to its 52-week high of Rs 5742.4 per share as its net profit grows by 25.6% YoY to Rs 82.3 crore in Q2FY25, helped by lower raw materials and employee benefits expense. Revenue increases 1.8% YoY to Rs 316.7 crore during the quarter. It features in a screener of stocks with dividend yield greater than the sector dividend yield.

• Amara Raja Energy & Mobility is falling sharply as its net profit misses Forecaster estimates by 10.1% after falling by 1.2% YoY to Rs 235.6 crore in Q2FY25 due to higher raw materials, inventory, and employee benefits expenses. However, revenue grows by 9.6% YoY to Rs 3,276.2 crore, driven by the lead acid batteries & allied products segment. It shows up in a screener of high volume and top losing stocks.

• Raymond is rising as its Q2FY25 revenue surges by 114.8% YoY to Rs 1,100.7 crore, helped by improvements in the tools & hardware, auto components, and real estate segments. However, net profit plunges 62.4% YoY to Rs 60 crore due to increased property development, raw materials, employee benefits, finance, and manufacturing & operating expenses. It features in a screener of stocks outperforming their industries in the past month.

• Morgan Stanley maintains its ‘Overweight’ rating on Apollo Hospitals Enterprise with a target price of Rs 7,110. The brokerage notes the company’s plans to set up a 500-bed hospital in Worli, Mumbai. It expects the share of metro cities in the overall mix will increase to 60% by FY29 from 57% in FY24, likely supporting RoCE expansion.

  #BrokerageRadar | Morgan Stanley on Apollo Hospital: Maintain Overweight with target price of Rs 7110@MorganStanleypic.twitter.com/ioJVVFddoW

  — ET NOW (@ETNOWlive) November 5, 2024

• Indian Railway Catering & Tourism Corp's net profit grows by 4.5% YoY to Rs 307.9 crore in Q2FY25, helped by reduced raw materials, tourism, and finance costs. Revenue increases 8.1% YoY to Rs 1,124 crore, attributed to improvements in the catering, Rail Neer, and internet ticketing segments. It appears in a screener of stocks with improving cash flow from operations over the past two years.

• Sagility India raises Rs 945.4 crore from anchor investors ahead of its IPO by allotting around 31.5 crore shares at Rs 30 each. Investors include Government Pension Fund Global, Nomura, Whiteoak Capital, Edelweiss, Florida Retirement, and Mirae Asset India.

• Gland Pharma rises sharply as its revenue grows 2.7% YoY to Rs 1,465.5 crore in Q2FY25, attributed to improvements in the USA, Canada, Australia, and New Zealand markets. However, net profit declines by 15.7% YoY to Rs 163.5 crore due to higher inventory and employee benefits expenses. It features in a screener of stocks with low debt.

• ABB India is falling as its net profit misses Forecaster estimates by 7.8% despite growing by 21.4% YoY to Rs 440.5 crore in Q2FY25 owing to lower raw materials and inventory costs. Revenue rises by 5.6% YoY to Rs 3,005.1 crore, driven by improvements in the motion and electrification segments. It appears in a screener of stocks where mutual funds decreased their holding in the past quarter.

• Nifty 50 was trading at 24,023.85 (28.5, 0.1%), BSE Sensex was trading at 78,542.16 (-240.1, -0.3%) while the broader Nifty 500 was trading at 22,553.05 (34.8, 0.2%).

• Market breadth is surging up. Of the 1,938 stocks traded today, 1,356 were gainers and 546 were losers.

Riding High:

Largecap and midcap gainers today include Gland Pharma Ltd. (1,832.85, 13.8%), Adani Energy Solutions Ltd. (1,015, 5.2%) and Oil India Ltd. (495.60, 4.9%).

Downers:

Largecap and midcap losers today include PB Fintech Ltd. (1,627, -5.1%), Torrent Power Ltd. (1,709.90, -4.9%) and Tube Investments of India Ltd. (4,183.30, -3.8%).

Crowd Puller Stocks

28 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Gland Pharma Ltd. (1,832.85, 13.8%), Mangalore Refinery And Petrochemicals Ltd. (163.84, 11.0%) and Hatsun Agro Products Ltd. (1,146.70, 7.4%).

Top high volume losers on BSE were PB Fintech Ltd. (1,627, -5.1%), Torrent Power Ltd. (1,709.90, -4.9%) and Amara Raja Energy & Mobility Ltd. (1,319.55, -4.0%).

Chemplast Sanmar Ltd. (484.70, 2%) was trading at 21.6 times of weekly average. Procter & Gamble Health Ltd. (5,597, 5.9%) and R R Kabel Ltd. (1,515.55, -0.2%) were trading with volumes 20.1 and 11.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks took off, crossing 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,321.45, 3.4%), Gillette India Ltd. (10,590, 1.9%) and National Aluminium Company Ltd. (235.03, 1.8%).

Stock making new 52 weeks lows included - Delhivery Ltd. (353.90, 0.1%).

17 stocks climbed above their 200 day SMA including Hatsun Agro Products Ltd. (1,146.70, 7.4%) and Oil India Ltd. (495.60, 4.9%). 21 stocks slipped below their 200 SMA including ABB India Ltd. (7,132.85, -3.1%) and KEI Industries Ltd. (3,939.80, -2.9%).

Nifty 50 closed at 23,995.35 (-309, -1.3%), BSE Sensex closed at 78,782.24 (-941.9, -1.2%) while the broader Nifty 500 closed at 22,518.30 (-305.3, -1.3%). Market breadth is moving down. Of the 2,368 stocks traded today, 557 were in the positive territory and 1,788 were negative.

Indian indices closed in the red ahead of US election results, with the benchmark Nifty 50 index closing at 23,995.4 points. The Indian volatility index, Nifty VIX, rose around 5% and closed at 16.7 points. Afcons Infrastructure’s shares made their debut on the bourses at an 8% discount to the issue price of Rs 463. The Rs 5,430 crore IPO received bids for 2.6 times the total shares on offer. 

Nifty Midcap 100 and Nifty Smallcap 100 closed lower. Nifty Media and Nifty Auto closed in the red. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 1.7%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the trading session. Vertex Pharmaceuticals, Palantir Technologies, Constellation Energy, and Marriott International among others, are set to report their earnings later today.

• Relative strength index (RSI) indicates that stocks like Poly Medicure, Crisil, and Piramal Pharma are in the overbought zone.

• VST Tillers Tractors' net profit grows by 22.9% YoY to Rs 44.8 crore in Q2FY25, helped by lower inventory expenses. Revenue increases 6.1% YoY to Rs 310.2 crore, driven by an increase in sales of power tillers, power weeders, and reapers. It features in a screener of stocks with rising net cash flow and cash from operating activities.

• Solar Industries India bags an order worth Rs 399.4 crore from an international client to supply defence products over the next three years.

• Tube Investments of India declines as its Q2FY25 net profit falls by 22.3% YoY to Rs 206.8 crore, caused by increased raw materials, inventory, and employee benefits expenses. However, revenue grows by 14.4% YoY to Rs 4,995.2 crore owing to improvements in the engineering, metal-formed products, electric vehicles, gears & gear products, power systems, and industrial systems segments.

• Niva Bupa Health Insurance Company sets its IPO price band at Rs 70-74 per share. The issue size is Rs 2,200 crore, with a fresh issue worth Rs 800 crore and an offer for sale of around Rs 1,400 crore. The issue opens on November 6.

  Niva Bupa Health Insurance Company will launch its Rs 2,200 crore IPO on November 7, with a price band of Rs 70-74 per share.https://t.co/PmoGRtodxC

  — ETMarkets (@ETMarkets) November 4, 2024

• Exide Industries falls sharply as its net profit declines 14.1% YoY to Rs 231.3 crore in Q2FY25 due to higher raw materials, employee benefits, and finance costs. However, revenue increases 1.8% YoY to Rs 4,490.3 crore, driven by improvements in the two-wheeler & four-wheeler replacement and industrial uninterruptible power supply (UPS) & solar segments. It appears in a screener of stocks with increasing trend in non-core income.

• IDBI Capital upgrades Ami Organics to 'Buy' from 'Hold' with a higher target price of Rs 2,250 per share. This indicates a potential upside of 13.8%. The brokerage expects sustained growth in key molecules, combined with the scale-up of the contract development and manufacturing organization (CDMO) segment, will help improve revenue. It expects the firm's revenue to grow at a CAGR of 31.7% over FY25-27.

• Bharat Global Developers surges to its 5% upper circuit as it bags an order worth Rs 300 crore from McCain India Agro to supply 2 lakh tonnes of potatoes in the next six months.

• Umesh Chowdhary, CEO of Titagarh Rail Systems, says the company delivered 900 wagons per month in Q2FY25, and projects it to be over 1,000 wagons/month for FY25. He highlights that the order book stands at Rs 25,000 crore, with 50% coming through JVs. Chowdhary maintains the EBITDA margin guidance at 12% and expects a 300-400 bps jump in the passenger EBITDA.

  #OnCNBCTV18 | Executed 900 wagons/month in Q2, will cross 1,000 wagons/month in FY25. Will maintain EBITDA margin at around 12%
  
  Will see a 300-400 bps jump in passenger EBITDA once our own propulsion comes in on stream
  
  Umesh Chowdhary, Titagarh Rail to CNBC-TV18 pic.twitter.com/aarhCt09zJ

  — CNBC-TV18 (@CNBCTV18Live) November 4, 2024

• Hatsun Agro Products is falling as its net profit declines by 17.1% YoY to Rs 64.3 crore in Q2FY25, caused by higher employee benefits and finance costs. However, revenue grows by 8.3% YoY to Rs 2,078.7 crore during the quarter. It shows up in a screener of stocks with weak financials.

• DCM Shriram's Q2FY25 net profit surges 95.2% YoY to Rs 62.9 crore, helped by lower inventory and fuel & power expenses. Revenue increases 11.8% YoY to Rs 3,184 crore driven by improvements in the chloro-vinyl, sugar, Shriram farm solutions, bioseed, and fertilizer segments. It features in a screener of stocks with dividend yield greater than the sector dividend yield.

• Hero MotoCorp's monthly wholesales rise 18.1% YoY to 6.8 lakh units in October due to higher motorcycle sales and domestic business. Its exports grow by 43% YoY to 21,688 units during the month.

• Partho Banerjee, Senior Executive Officer, Marketing and Sales at Maruti Suzuki, expects strong sales in November due to “a few lakh” weddings, carrying forward the festive momentum. The company posted retail sales of 2 lakh units in October, driven by festive sales.

  With record October month behind, #MarutiSuzukiIndia is banking on 'few lakhs marriages' slated for November to carry forward festive sales momentum.
  
  Read: https://t.co/TmUCFtJjGRpic.twitter.com/fAL0rd3cWu

  — NDTV Profit (@NDTVProfitIndia) November 4, 2024

• Bajaj Auto is falling as its domestic wholesales decline by 8% YoY to 3 lakh units in October due to a decrease in two-wheeler and commercial vehicle domestic wholesales by 8% YoY and 6% YoY, respectively. However, the company's exports grow by 24% YoY to 1.8 lakh units during the month.

• Energy stocks like Indian Oil Corp, Tata Power, Bharat Petroleum Corp, and Coal India fall more than 3% in trade. All constituents of the broader Nifty Energy index are also trading in the red, causing the index to plunge more than 3%.

• IRB Infrastructure Developers falls sharply as its net profit misses Forecaster estimates by 1.8% despite growing 4.3% YoY to Rs 99.9 crore in Q2FY25. Revenue declines by 6.6% YoY to Rs 1,751.6 crore due to a reduction in the construction segment. It appears in a screener of stocks with high promoter pledges.

• India’s manufacturing PMI rises to 57.5 in October, compared to the nine-month low of 56.5 in September, driven by robust demand for Indian goods.

  India’s manufacturing activity rose to 57.5 in October from the nine-month low of 56.5 hit a month back????
  
  More details ????https://t.co/tDu6ywbekF#Manufacturing#PMI#Economy

  — Moneycontrol (@moneycontrolcom) November 4, 2024

• Biocon falls sharply as it reports a net loss of Rs 16 crore in Q2FY25 compared to a net profit of Rs 125.6 crore in Q2FY24 due to higher inventory, employee benefits, and deferred tax expenses. Revenue remains flat at Rs 3,622.9 crore as gains in the biosimilars segment were offset by declines in the generics and research services segments. It shows up in a screener of stocks with RSI indicating price weakness.

• Larsen & Toubro's Q2FY25 net profit grows 13% YoY to Rs 703.6 crore. Revenue increases 20.1% YoY to Rs 62,655.9 crore owing to improvements in the infrastructure projects, energy projects, hi-tech manufacturing, IT & technology services, and financial services segments. It features in a screener of stocks with high momentum scores.

• Tata Power is falling as its net profit misses Forecaster estimates by 12.3% despite growing by 5.8% YoY to Rs 926.5 crore in Q2FY25 owing to lower fuel and raw material costs. Revenue rises by 11.9% YoY to Rs 16,219.8 crore, attributable to the transmission & distribution segments. It appears in a screener of stocks with increasing debt.

• DAM Capital initiates a ‘Buy’ rating on Bharti Airtel with a target price of Rs 1,907. The brokerage expects strong multi-year growth in the home broadband segment and steady expansion in the B2B business. It projects the company’s wireless subscribers to grow by more than 2% annually, with average revenue per user rising 7% every year for the next decade.

  #BrokerageRadar | DAM Capital on Bharti Airtel: Initiates Buy with a target price of ?1,907. pic.twitter.com/7hvzCaeSqi

  — ET NOW (@ETNOWlive) November 4, 2024

• Afcons Infrastructure’s shares debut on the bourses at an 8% discount to the issue price of Rs 463. The Rs 5,430 crore IPO received bids for 2.6 times the total shares on offer.

• Bondada Engineering rises as its Q2FY25 net profit surges by 142.2 % YoY to Rs 36 crore, helped by lower raw material expenses. Revenue jumps by 62.7% YoY to Rs 483.4 crore, driven by the engineering, procurement & construction (EPC) segment. It features in a screener of stocks with improving return on equity (RoE) over the past two years.

• Narayana Hrudayalaya is falling as its net profit declines by 12.3% YoY to Rs 198.6 crore in Q2FY25 due to higher raw materials and employee benefits expenses. However, revenue grows by 7.6% YoY to Rs 1,423.6 crore, helped by the medical & healthcare-related services segment. It shows up in a screener of stocks with growing costs YoY from long-term projects.

• Welspun Corp is rising as it bags two orders worth approx. Rs 1,300 crore from the US to supply coated helical submerged arc welding (HSAW) pipes for natural gas pipelines.

• Nifty 50 was trading at 24,128.25 (-176.1, -0.7%), BSE Sensex was trading at 79,573.72 (-150.4, -0.2%) while the broader Nifty 500 was trading at 22,636.30 (-187.3, -0.8%).

• Market breadth is overwhelmingly negative. Of the 2,050 stocks traded today, 526 were in the positive territory and 1,468 were negative.

Riding High:

Largecap and midcap gainers today include Info Edge (India) Ltd. (7,722.75, 3.4%), Max Healthcare Institute Ltd. (1,036.60, 2.9%) and Punjab National Bank (103.65, 2.6%).

Downers:

Largecap and midcap losers today include Rail Vikas Nigam Ltd. (446.20, -5.3%), Solar Industries India Ltd. (9,887.65, -4.9%) and Star Health and Allied Insurance Company Ltd. (488.80, -4.5%).

Volume Rockets

23 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Fine Organic Industries Ltd. (5,133.10, 5.8%), Rainbow Childrens Medicare Ltd. (1,630.35, 5.2%) and Galaxy Surfactants Ltd. (3,050, 4.0%).

Top high volume losers on BSE were Sun Pharma Advanced Research Company Ltd. (205.13, -5.0%), PVR INOX Ltd. (1,498, -4.9%) and KIOCL Ltd. (321.50, -4.1%).

Shoppers Stop Ltd. (658.50, -3.5%) was trading at 17.9 times of weekly average. Hatsun Agro Products Ltd. (1,068, -3.8%) and Welspun Corp Ltd. (731.70, -0.2%) were trading with volumes 7.3 and 6.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks hit their 52 week highs, while 2 stocks hit their 52 week lows.

Stocks touching their year highs included - City Union Bank Ltd. (178.45, 0.4%), Crisil Ltd. (5,479.90, 0.3%) and Federal Bank Ltd. (204.29, 0.1%).

Stocks making new 52 weeks lows included - Astral Ltd. (1,750.80, -1.5%) and Birlasoft Ltd. (549.80, -1.3%).

3 stocks climbed above their 200 day SMA including Macrotech Developers Ltd. (1,194.95, -1.0%) and Hatsun Agro Products Ltd. (1,068, -3.8%). 29 stocks slipped below their 200 SMA including Craftsman Automation Ltd. (4,997.60, -4.0%) and Star Cement Ltd. (203.56, -3.9%).

Nifty 50 closed at 24,340.85 (-126, -0.5%), BSE Sensex closed at 79,942.18 (-426.9, -0.5%) while the broader Nifty 500 closed at 22,749.80 (-45.3, -0.2%). Market breadth is ticking up strongly. Of the 2,308 stocks traded today, 1,801 showed gains, and 483 showed losses.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,340.9 points. The Indian volatility index, Nifty VIX, rose 6.9% and closed at 15.5 points. Larsen & Toubro’s transmission and distribution (T&D) business won orders worth Rs 5,000-10,000 crore to expand and strengthen electricity grids in the Middle East and Africa. 

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. S&P BSE SME IPO and Nifty Media were among the top index gainers today. According to Trendlyne’s Sector dashboard, Healthcare Equipment & Supplies emerged as the best-performing sector of the day, with a rise of 5.5%.

Asian indices closed mixed while European indices are trading in the red with an exception of the Russian MOEX & RTSI index which is trading in the green. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the green. Alphabet's Q3 results exceeded Wall Street expectations, primarily driven by robust demand for computing and data services necessary for supporting artificial intelligence models, which are enhancing returns for its cloud computing division.

• Money flow index (MFI) indicates that stocks like Crisil, Syrma SGS Technology, and Indian Bank are in the overbought zone.

• Shalby’s net profit declines 43% YoY to Rs 173.4 crore in Q2FY25 attributed to higher employee benefit, depreciation & amortisation expenses and finance costs. Revenue drops 2.2% YoY to Rs 2,122.7 crore during the quarter. The company features in a screener of stocks with declining profits every quarter for the past three quarters.

• Kaynes Technology's net profit grows by 87.5% YoY to Rs 60.2 crore in Q2FY25 but misses Forecaster estimates by 1.1%. Revenue grows by 63.8% YoY to Rs 605.7 crore during the quarter. It features in a screener of stocks with increasing net profit and profit margin (YoY).

• Aadhar Housing Finance, Usha Martin, and Apollo Hospitals Enterprise rise by 9%, 5.9%, and 1.3% respectively, ahead of their Q2FY25 results on November 6.

• According to a report from the World Gold Council, India purchased gold worth Rs 1.7 lakh crore in Q2FY25, despite a 28% increase in global prices. Gold demand rose 18% YoY to 248.3 tonnes in Q2, driven by higher jewellery consumption and increased investment in gold.

  Gold demand in India surges 18% in Jul-Sept on strong jewellery sales https://t.co/DUv7VFVQoT

  — Business Today (@business_today) October 30, 2024

• AIA Engineering's Q2FY25 net profit declines by 21% YoY to Rs 256.7 crore due to higher inventory and employee benefits expenses. Revenue falls 19.4% YoY to Rs 1,044.2 crore during the quarter. It appears in a screener of stocks with declining profits over the past three quarters.

• Procter & Gamble Hygiene & Healthcare’s Q2FY25 net profit grows marginally by 0.6% YoY to Rs 211.9 crore, missing the Forecaster estimates by 9.4%. Revenue remains flat at Rs 1,132.7 crore. The company shows up in a screener of stocks with declining revenue every quarter for the past three quarters.

• Sterlite Technologies posts a net loss of Rs 14 crore in Q2FY25 compared to a net profit of Rs 34 crore in Q2FY24 due to higher raw materials costs. Revenue declines by 5.2% YoY to Rs 1,419 crore, caused by a reduction in the optical networking, global services, and digital & technology solutions segments. It appears in a screener with low DVM stocks.

• Satyanarayana Raju, CEO of Canara Bank, highlights the bank is on track to meet its net interest margin (NIM) guidance for FY25, despite an overall increase in deposit costs within the banking sector. For Q2FY25, the bank's NIM stood at 2.88%, a decline of 2 bps from the previous quarter. At the beginning of the financial year, the bank had aimed for a NIM in the range of 2.9%.

  #CanaraBank is set to achieve its net interest margin guidance for fiscal 2025, says CEO and MD Satyanarayana Raju.
  
  Read more ??https://t.co/Ng3UCI7Bqo

  — NDTV Profit (@NDTVProfitIndia) October 30, 2024

• Larsen & Toubro’s transmission and distribution (T&D) business bags orders worth Rs 5,000-10,000 crore to expand and strengthen electricity grids at high-voltage levels in the Middle East and Africa. The company will also implement an energy management system for a country-wide electricity network.

• Geojit BNP Paribas upgrades Bajaj Finance to 'Buy' from 'Hold' with a higher target price of Rs 7,924 per share. This indicates a potential upside of 13.6%. The brokerage believes the lender will benefit from the falling credit costs and potential margin expansion from rate cuts, which could support lower-margin products and new businesses. It expects the company's net interest income (NII) to grow at a CAGR of 20.4% over FY25-26.

• Redington surges as its net profit beats Forecaster estimates by 12.3% despite falling by 3.5% YoY to Rs 292.9 crore in Q2FY25. However, revenue grows by 11.9% YoY to Rs 24,952.2 crore, helped by improvements in the Singapore, India & South Asia (SISA) and rest of the world (ROW) segments. It features in a screener of stocks with the highest FII holdings.

• Five-Star Business Finance falls over 11%, but Nuvama Research retains its 'Buy' rating on the stock, with a target price of Rs 1,010. Despite a reduction in growth guidance and lower incremental yield, the brokerage believes the company will outperform its peers in terms of growth and profitability. It highlights that Five-Star's earnings indicate the strength of its business model amid significant stress among many small lenders.

  #MarketToday | Five-Star Business shares dive 14% despite 34% rise in Q2 FY25 profit; here's why https://t.co/ZCdVry19oK

  — Business Today (@business_today) October 30, 2024

• GlaxoSmithKline Pharmaceuticals is rising as its net profit grows by 16.1% YoY to Rs 252.2 crore in Q2FY25, helped by lower finance costs and depreciation expenses. Revenue increases 5.6% YoY to Rs 1,010.8 crore during the quarter. It features in a screener of companies where mutual funds increased their shareholding in the last quarter.

• Media stocks like Sun TV Network, PVR INOX, Network18 Media & Investment, and Zee Entertainment Enterprises are rising in trade. All constituents of the broader Nifty Media index are also trading in the green.

• Honeywell Automation falls sharply as its net profit declines 5.6% YoY to Rs 115.1 crore in Q2FY25 due to higher cost of raw materials. Revenue decreases by 6.9% YoY to Rs 1,065.1 crore during the quarter. It shows up in a screener of high volume and top losing stocks.

• Sanjay Swarup, CMD of Container Corp of India, projects volume growth of more than 18% and margins at around 25-26% for FY25. He anticipates improved realizations in the second half of the fiscal year and maintains the FY25 export-import (EXIM) volume guidance of 15-25% for the company's domestic business.

  CONCOR says
  
  FY25 Guidance
  ???? Volumes +18%
  ???? Margins around 25%-26%
  ???? Realizations will improve in H2@concor_india#StockMarkethttps://t.co/AZeDrz1gbF

  — Nigel D'Souza (@Nigel__DSouza) October 30, 2024

• Voltas is falling as its net profit misses Forecaster estimates by 1.8% despite growing by 265.3% YoY to Rs 134 crore in Q2FY25, helped by inventory destocking. Revenue rises by 15.3% YoY to Rs 2,724.6 crore, driven by improvements in the unitary cooling products and engineering products & services segments. It appears in a screener of stocks with an increasing trend in non-core income.

• Godrej Agrovet is falling as its Q2FY25 net profit misses Forecaster estimates by 7.3% despite growing by 6.6% YoY to Rs 112.3 crore. Revenue declines 4.7% YoY to Rs 2,461.3 crore due to a reduction in the animal feed, vegetable oil, crop protection, and poultry & processed food segments. It appears in a screener of stocks where RSI indicates price weakness.

• Godavari Biorefineries’ shares debut on the bourses at a 12.5% discount to the issue price of Rs 352. The Rs 554.8 crore IPO received bids for 1.8 times the total shares on offer.

• Economists believe the Reserve Bank of India (RBI) will likely cut its key policy rate by a quarter point to 6.25% in December to support slowing economic growth. Despite a surprising rise in inflation to 5.5% in September, it is projected to average 4.9% this quarter and drop to 4.6% in January-March, giving RBI the room to ease policy. The central bank has maintained interest rates at their highest level since early 2019 over the past ten meetings.

  RBI to cut rates in December to 6.25%, say narrow majority of economists: Reuters poll https://t.co/41G7eNispTpic.twitter.com/RIssxiq3xi

  — Reuters (@Reuters) October 30, 2024

• Shriram Properties is rising as it signs a joint development agreement for a six-acre land in Undri, Pune. The company will develop over 650 apartments and some retail or commercial spaces with an aggregate saleable area of more than 1 million square feet. The project has a revenue potential of approx. Rs 700-750 crore, to be developed over four years.

• Force Motors surges more than 15% as its net profit grows 43.8% YoY to Rs 135 crore in Q2FY25, helped by lower finance costs. Revenue increases 7.7% YoY to Rs 1,949.9 crore during the quarter. It features in a screener of stocks with improving return on equity (RoE) over the past two years.

• Marico rises sharply as its net profit grows by 19.8% YoY to Rs 423 crore in Q2FY25. Revenue increases by 9.2% YoY to Rs 2,746 crore, driven by improvements in the Indian and international markets. It appears in a screener of stocks near their 52-week highs.

• Prestige Estates Projects is falling as its net profit declines by 77.4% YoY to Rs 192.2 crore in Q2FY25 due to higher raw materials, contractor, employee benefits, and finance costs. Revenue decreases by 25.6% YoY to Rs 2,423.8 crore, caused by lower sales and collections. It shows up in a screener of stocks where promoters are decreasing their shareholding.

• Nifty 50 was trading at 24,365.20 (-101.7, -0.4%), BSE Sensex was trading at 80,237.85 (-131.2, -0.2%) while the broader Nifty 500 was trading at 22,726.55 (-68.5, -0.3%).

• Market breadth is highly positive. Of the 1,950 stocks traded today, 1,276 were in the positive territory and 632 were negative.

Riding High:

Largecap and midcap gainers today include Indian Railway Finance Corporation Ltd. (155.55, 8.4%), Rail Vikas Nigam Ltd. (465.35, 6.0%) and Aditya Birla Capital Ltd. (215.37, 5.3%).

Downers:

Largecap and midcap losers today include Honeywell Automation India Ltd. (45,193.30, -7.7%), Dixon Technologies (India) Ltd. (14,175.60, -5.1%) and Voltas Ltd. (1,697.90, -4.1%).

Movers and Shakers

23 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Capri Global Capital Ltd. (210.68, 14.2%), Data Patterns (India) Ltd. (2,478.50, 12.5%) and Action Construction Equipment Ltd. (1,304.80, 10.1%).

Top high volume losers on BSE were Honeywell Automation India Ltd. (45,193.30, -7.7%), Voltas Ltd. (1,697.90, -4.1%) and Hitachi Energy India Ltd. (13,695.85, -3.9%).

Redington Ltd. (182.77, 9.7%) was trading at 19.2 times of weekly average. Vardhman Textiles Ltd. (458.10, 4.7%) and ITI Ltd. (228.65, 5.2%) were trading with volumes 10.6 and 9.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks overperformed with 52 week highs, while 3 stocks hit their 52 week lows.

Stocks touching their year highs included - City Union Bank Ltd. (174.43, -1.4%), Crisil Ltd. (5,372.30, 3.2%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,214.75, -1.4%).

Stocks making new 52 weeks lows included - Astral Ltd. (1,746.90, -0.7%) and Sheela Foam Ltd. (809.45, -1.9%).

28 stocks climbed above their 200 day SMA including Laxmi Organic Industries Ltd. (269.65, 6.9%) and Aditya Birla Capital Ltd. (215.37, 5.3%). 9 stocks slipped below their 200 SMA including Honeywell Automation India Ltd. (45,193.30, -7.7%) and Cipla Ltd. (1,418.25, -4.0%).

Nifty 50 closed at 24,466.85 (127.7, 0.5%), BSE Sensex closed at 80,369.03 (364.0, 0.5%) while the broader Nifty 500 closed at 22,795.05 (145.1, 0.6%). Market breadth is in the green. Of the 2,299 stocks traded today, 1,385 were on the uptrend, and 886 went down.

Indian indices closed in the green after paring their losses in the afternoon session. The Indian volatility index, Nifty VIX, rose 1.6% and closed at around 14.5 points. Maruti Suzuki closed sharply lower as its net profit declined by 18.1% YoY to Rs 3,102.5 crore in Q2FY25. However, revenue grew 1.9% YoY to Rs 38,972.4 crore.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher.  Nifty PSU Bank and BSE Realty were among the top-performing indices today. According to Trendlyne’s sector dashboard, Banking & Finance emerged as the best-performing sector of the day, with a rise of 2.2%.

European indices traded higher. Major Asian indices closed in the green. US index futures traded mixed, indicating a cautious start to the trading session in anticipation of results from Alphabet (Google), Visa, Advanced Micro Devices, and Novartis AG.

• Relative strength index (RSI) indicates that stocks like IndusInd Bank, Indraprastha Gas, and CreditAccess Grameen are in the oversold zone.

• Ami Organics surges to its all-time high of Rs 1,890 per share as it posts a net profit of Rs 37.3 crore in Q2FY25 compared to a net loss of Rs 18.9 crore in Q2FY24. Revenue grows by 46.8% YoY to Rs 255.2 crore due to improvements in the pharmaceutical intermediates and specialty chemicals segments. It features in a screener of stocks with share prices above the short, medium, and long-term moving averages.

• Canara Bank's revenue increases 10.3% YoY to Rs 34,721.1 crore in Q2FY25, driven by growth in retail banking, wholesale banking, and treasury operations. Net profit rises 11.3% YoY to Rs 4,014.5 crore, helped by lower provisions. The bank's asset quality also improves, with gross and net NPAs declining by 103 bps and 42 bps YoY, respectively.

• Cipla's Q2FY25 net profit grows by 15.2% YoY to Rs 1,302.5 crore due to lower finance costs. Revenue rises by 5.6% YoY to Rs 7,241.6 crore, driven by the pharmaceuticals segment. It appears in a screener of stocks with improving return on capital employed (RoCE) over the past two years.

• Most analysts covering Bharat Heavy Electricals (BHEL) remain cautious to bearish on the stock despite its unexpected net profit in Q2. CLSA maintains its 'underperform' rating with a price target of Rs 189, noting that the key catalyst of its inclusion in global passive indices has passed. Additionally, Larsen & Toubro's recent entry into the thermal power equipment market raises concerns about BHEL's market dominance.

  #CNBCTV18Market | Analysts hold a cautious to bearish view on #BHEL, despite its surprise net profit in Q2, which defied predictions of a net loss
  
  Here's why | #StockMarket#stockmarketindia#StocksToTrade#StocksInFocus#StocksToFocushttps://t.co/LTDyHuNPS1

  — CNBC-TV18 (@CNBCTV18News) October 29, 2024

• Adani Ports' net profit surges 36.9% YoY to Rs 2,412.5 crore in Q2FY25, helped by a deferred tax credit of Rs 132.5 crore. Revenue increases 6.3% YoY to Rs 7,067 crore due to improvements in port and special economic zone activities. It appears in a screener of stocks with improving book value per share over the past two years.

• Maruti Suzuki falls sharply as its net profit declines by 18.1% YoY to Rs 3,102.5 crore in Q2FY25, caused by higher raw materials, finance, and employee benefits expenses. However, revenue grows by 1.9% YoY to Rs 38,972.4 crore, driven by sales in the international market. It shows up in a screener of stocks with growing costs YoY for long-term projects.

• Quess Corp falls sharply as its Q2FY25 net profit misses Forecaster estimates by 11.1%, despite rising 32% YoY to Rs 93.6 crore. Revenue grows by 9.1% YoY to Rs 5,179.4 crore, helped by improvements in the workforce & operating asset management and global technology solutions segments. It shows up in a screener of stocks underperforming their industry price change during the quarter.

• Ramco Cements’ board approves the sale of 1.4 crore shares of Ramco Industries worth approx. Rs 330 crore to Rajapalayam Mills and Ramco Management.

  Ramco Cements in focus
  Co to sell 1.4cr shares of Ramco Industries
  Buyers ???? Rajapalayam Mills Limited (RML) & Ramco Management Private Limited (RMPL)
  
  Analysis
  ???? Sale of Ramco Indsutries will unlock approx. 330cr
  ????Net debt for Ramco Cements as of 1QFY25 Rs.4970cr
  ???? Was also… pic.twitter.com/AYwqZE9KGK

  — Nigel D'Souza (@Nigel__DSouza) October 29, 2024

• Motilal Oswal maintains its 'Buy' call on Bharat Electronics with a target price of Rs 360 per share. This indicates a potential upside of 30.3%. The brokerage believes the company will benefit from the ramp-up in defence orders for naval, electronic warfare (EW) systems, artillery systems, and platforms. It expects the firm's revenue to grow at a CAGR of 19.2% over FY25-27

• Spandana Sphoorty Financial plunges over 16% to its 52-week low of Rs 375 as it reports a net loss of Rs 216.3 crore in Q2FY25. Net loss is due to higher finance costs, impairment of financial instruments, and employee benefit expenses. However, revenue grows 12.5% YoY to Rs 686.4 crore during the quarter. It features in a screener of stocks with increasing debt.

• Ajanta Pharma's Q2FY25 revenue rises 15.4% YoY to Rs 1,186.6 crore, beating the Forecaster estimates by 5.3%. Net profit grows 10.8% YoY to Rs 216.5 crore during the quarter. The company appears in a screener for stocks where mutual funds increased their shareholding in the past quarter.

• India's smaller companies face a downturn as weak earnings and a muted economic outlook affect their shares. Key mid-sized and small-cap stock indices are close to a technical correction due to high valuations. This decline follows investors shifting their focus to cheaper Chinese stocks. The MSCI India Index is valued at around 22 times its one-year forward earnings, nearly double the MSCI China Index.

  The tide is turning against India’s smaller companies as weak earnings and a souring economic outlook spur a downturn in their shares.https://t.co/kb4A6SeexB

  — ETMarkets (@ETMarkets) October 29, 2024

• Federal Bank rises sharply as its net profit grows 10.8% YoY to Rs 1,056.7 crore in Q2FY25. Revenue increases 21.9% YoY to Rs 7,541.2 crore owing to improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline by 17 bps YoY and 7 bps YoY, respectively.

• Tata Consultancy Services (TCS) secures a 15-year contract with Ireland's Department of Social Protection to implement the 'My Future Fund' auto-enrolment retirement savings scheme. TCS will provide digital solutions for the enrolment, record management, and benefit disbursement of nearly 800K workers.

• Gillette India rises sharply as its Q2FY25 revenue rises 17.1% YoY to Rs 781.8 crore, driven by an improvement in the grooming segment. Net profit grows 43.5% YoY to Rs 133 crore during the quarter. It appears in a screener of stocks with growing quarterly net profit and profit margin.

• In its latest monthly economic review, the Finance Ministry highlights growing worries about weakening consumer sentiment and declining demand, especially in urban areas of India. It also reports a slowdown in industrial activity in recent months but expects the economy will grow between 6.5% and 7% during 2024-25.

  The Finance Ministry’s latest monthly economic review points to evidence of a slowdown in urban demand as reflected in the performance of various indicators during the first half of FY25. @tragicosmicomic reports. https://t.co/hD7rBVLmaX

  — The Hindu (@the_hindu) October 28, 2024

• Suzlon Energy's net profit surges by 95.7% YoY to Rs 200.2 crore in Q2FY25, helped by inventory destocking. Revenue increases 48.5% YoY to Rs 2,121.2 crore owing to improvements in the wind turbine generator and operation & maintenance segments. It features in a screener of companies reducing debt.

• Tata Technologies' Q2FY25 revenue rises 2.1% YoY to Rs 1,296.5 crore, helped by improvement in the services segment. However, net profit falls 1.9% YoY to Rs 157.4 crore due to higher employee benefits costs and tax expenses. The company appears in a screener of stocks with PE higher than industry PE.

• Indraprastha Gas's Q2FY25 net profit declines by 17.7% YoY to Rs 454.9 crore due to higher raw materials and excise duty costs. However, revenue grows by 7.4% YoY to Rs 4,171.4 crore, driven by increased sales of CNG and PNG. It appears in a screener of stocks which lost more than 20% in the past month.

• Food and grocery delivery major Swiggy reportedly sets its IPO price band at Rs 371-390 per share. The issue size is Rs 11,300 crore, with a fresh issue worth Rs 4,500 crore and an offer for sale of around Rs 6,800 crore. The issue will likely open on November 6.

  #Swiggy is set to raise ?11,300 crore through its IPO, which will open for public subscription on November 6. The price band of the upcoming IPO will be priced in the range of ?371 to ?390 each, as per a report. #SwiggyIPO
  
  Read more: https://t.co/mGdAEj2W1spic.twitter.com/iJlttwSv7r

  — Mint (@livemint) October 28, 2024

• Tata Power Co acquires a 40% stake in Bhutan-based Khorlochhu Hydro Power (KHPL) for approximately Rs 830 crore. This investment supports Tata Power's clean energy goals, involving the 600 MW Khorlochhu Hydropower Project valued at Rs 6,900 crore.

• JSW Infrastructure rises sharply as its net profit grows by 46% YoY to Rs 371.5 crore in Q2FY25, owing to lower employee benefits and finance costs. Revenue increases by 21.5% YoY to Rs 1,088.2 crore, attributed to higher handled cargo volumes. It features in a screener of stocks with growth in quarterly net profit and margin (YoY).

• Bharti Airtel is falling as its net profit misses Forecaster estimates by 14.8% despite surging 168% YoY to Rs 3,593.2 crore in Q2FY25. Revenue grows by 11.6% YoY to Rs 41,728 crore, helped by improvements in the Indian mobile services, Airtel business, and home services segments. It shows up in a screener of stocks with declining net cash flow.

• Kalpataru Projects is rising as its revenue grows by 9.1% YoY to Rs 4,929.9 crore in Q2FY25, led by improved execution in the transmission & distribution, buildings & factories, oil & gas, and urban infra businesses. Net profit increases 41% YoY to Rs 125.5 crore during the quarter. The company shows up in a screener of stocks where FII / FPI or institutions are increasing their shareholding.

• Nifty 50 was trading at 24,270.70 (-68.5, -0.3%), BSE Sensex was trading at 80,042.52 (37.5, 0.1%) while the broader Nifty 500 was trading at 22,611.25 (-38.7, -0.2%).

• Market breadth is in the green. Of the 1,906 stocks traded today, 1,067 were on the uptrend, and 791 went down.

Riding High:

Largecap and midcap gainers today include JSW Infrastructure Ltd. (316, 10.0%), Vedant Fashions Ltd. (1,357.70, 8.5%) and Federal Bank Ltd. (200.70, 8.5%).

Downers:

Largecap and midcap losers today include Tata Motors Ltd. (842.75, -4.1%), Maruti Suzuki India Ltd. (11,046, -3.8%) and Dabur India Ltd. (535.85, -3.2%).

Crowd Puller Stocks

14 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Gillette India Ltd. (9,402.50, 10.4%), JSW Infrastructure Ltd. (316, 10.0%) and Vedant Fashions Ltd. (1,357.70, 8.5%).

Top high volume losers on BSE were Sapphire Foods India Ltd. (325.60, -4.9%), KSB Ltd. (792.90, -4.8%) and Maruti Suzuki India Ltd. (11,046, -3.8%).

Kalpataru Projects International Ltd. (1,241.60, 5.4%) was trading at 12.9 times of weekly average. Federal Bank Ltd. (200.70, 8.5%) and Sumitomo Chemical India Ltd. (553.10, 7.5%) were trading with volumes 8.6 and 6.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks made 52 week highs, while 5 stocks tanked below their 52 week lows.

Stocks touching their year highs included - City Union Bank Ltd. (176.92, 2.9%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,231.95, 9.1%) and Gillette India Ltd. (9,402.50, 10.4%).

Stocks making new 52 weeks lows included - Astral Ltd. (1,759.90, -2.0%) and IndusInd Bank Ltd. (1,038.15, -1.6%).

22 stocks climbed above their 200 day SMA including JSW Infrastructure Ltd. (316, 10.0%) and Indian Bank (581, 5.4%). 18 stocks slipped below their 200 SMA including Ashok Leyland Ltd. (208.15, -1.8%) and Cipla Ltd. (1,477.55, -1.7%).