Summary of the Day's Market Performance

• Sensex rose by 591.69 points (+0.73%) to 81,973.05.

• Nifty gained 163.70 points (+0.66%) to close at 25,128.

• The BSE Midcap index was up 0.3%, while the Smallcap index ended flat.

• IT, Banking, and Realty sectors were up 1% each.

• Global factors, like China's economic slowdown and declining oil prices, mixed with India's market resilience.

Performance of Key Sectors

• Sectors Gained: Information Technology, Banking, and Realty, all up by 1% each.

• Sectors Weakened: Metal and Media were the only sectors to close in the red.

💹Market Transactions:

• Foreign Institutional Investors (FII): ₹-3,731.59 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹2,278.09 crore (Net Buyers)

Foreign Institutional Investors (FII) remained net sellers, while Domestic Institutional Investors (DII) supported the market with net purchases.

• Chinese economic slowdown and disinflation added a global negative sentiment.

• Indian markets, however, remain resilient with the IT and financial sectors attracting buying interest.

• Subdued Q2 earnings expectations have already been factored in.

India’s IT industry contributes almost 7.7% to the national GDP, with the sector growing steadily at 8-9% annually!

Key Stock Movements and News

• Top Gainers: Wipro, Tech Mahindra, HDFC Life, L&T, HDFC Bank.

• Top Losers: ONGC, Maruti Suzuki, Tata Steel, Bajaj Finance, Adani Enterprises.

• Airtel Business partners with Zscaler for ‘Airtel Secure Digital Internet’.

• Easy Trip board approves a 1:1 bonus issue.

• Ola Electric shares dropped 3% amidst regulatory scrutiny over discount schemes.

• Premier Energies rallied 10% intraday after a subsidiary bagged orders worth ₹765 crore.

• Wipro will consider a bonus issue on October 17.

• Bajaj Housing Finance sees a decline post-IPO lock-in period expiry.

• JSW Infrastructure acquires a 70.37% stake in Navkar Corporation.

• IPCA Laboratories hit a record high after a brokerage upgrade by Motilal Oswal.

• Premier Energies: Surged on securing multiple orders.

• IPCA Laboratories: Upgraded by Motilal Oswal with a potential 16% upside.

Despite global challenges, Indian markets saw a strong rebound, largely driven by buying in the IT and financial sectors. With global uncertainties and subdued Q2 results already priced in, markets showed resilience, supported by DII. Keep an eye on upcoming earnings reports to gauge future momentum!

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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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