Today’s Stock Market Round-Up: 09/11/2023

Benchmark indices ended on a negative note in the volatile session on November 9 with Nifty at 19,400. Sensex ended the session down 143 points at 64,832 level. 

Mixed trend seen on the sectoral front with realty and auto indices up 1 percent each, while Oil & Gas, FMCG, Information Technology indices down 0.5 percent each. BSE Midcap index ended on a flat note, while Smallcap index down 0.25 percent.

The top realty gainers included Sobha which jumped over 5 percent followed by Prestige Estates, Godrej Properties and Oberoi Realty which added 2-3 percent each.

Auto stocks also witnessed buying interest led by Mahindra & Mahinda which jumped over 4 percent ahead of its September quarter earnings. This was followed by Hero MotoCorp, Tata Motors and Maruti Suzuki among others.

Top Nifty50 gainers: 

Apart from M&M, Apollo Hospitals, Coal India, Power Grid and IndusInd Bank were the top gainers.

Top Nifty50 losers: 

Adani Enterprises, Hindustan Unilever, Adani Ports, Tata Consumer Products and ONGC.

Around 1050 stocks advanced and 1409 declined and 98 remained unchanged.

Most active stocks in terms of volumes on NSE:

Tata Steel, Coal India, NTPC, Power Grid and State Bank of India.

ASK Automotive IPO updates:

ASK Automotive’s Rs 834-crore initial public offering has been booked 50.82 times as of 3:56 PM on November 9, the last day of the offer. The offer has, so far, received bids for 105.19 crore shares against the issue size of 2.06 crore shares. 

Retail investors bid 5.3 times and non-institutional investors (NII) 35.30 times the portions set aside for them. Qualified institutional buyers (QIB) picked 142.11 times their allotted quota.

India inflation likely eased to four-month low in October

The pace of India’s consumer price inflation likely eased further to a four-month low of 4.80% in October, closer to the Reserve Bank of India’s 4% medium-term target, according to a Reuters poll.

Volatile food prices, which make up about half of the consumer price index (CPI) basket, have probably moderated, following a spike in July and August. However, prices of onions, a staple in Indian cooking, are still rising sharply. The November 6-9 Reuters poll of 53 economists said CPI was at an annual rate of 4.8 percent in October, slower than 5.02 percent in September.

European Markets updates:

European markets were trading mixed with FTSE trading flat at 7398 level while CAC and DAX added half a percent each.

Ashok Leyland Q2 net profit surges

Commercial vehicles maker Ashok Leyland on November 9 reported a 182 percent YoY surge in consolidated net profit at Rs 561 crore for September quarter 2023-24 riding on higher sales. The company had incurred a net profit of Rs 199 crore in the same period last fiscal year. Sequentially, the net profit dipped 3 percent from Rs 576 crore in the previous quarter.

Revenue from operations rose 16.6 percent to Rs 9,638 crore in the quarter from Rs 8,266 crore in the same quarter last fiscal.

Disclaimer:

The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.