Summary of the Day's Market Performance

• Indian equity indices closed lower on October 15.

• The Sensex fell 152.93 points or 0.19% to 81,820.12.

• Nifty declined by 70.70 points or 0.28% to 25,057.30.

• The BSE Midcap index increased by 0.3%, and the Smallcap index rose by 1%.

• Sector-wise, Metal and Auto were under pressure, while Realty and Media saw gains.

Performance of Key Sectors

• Declining Sectors: Metal index dropped by 1.5%, Auto shed nearly 1%, and Pharma lost 0.5%.

• Gaining Sectors: Realty index surged 2%, and Media added 0.7%.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-1,748.71 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹1,654.96 crore (Net Buyers)

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

• A mixed global trend combined with profit-booking influenced the domestic market's decline.

• Crude oil prices falling indicated weaker global demand, which despite benefiting the Indian economy, caused cautious trading.

• India’s Consumer Price Index (CPI) spiked due to rising food prices, delaying anticipated rate cuts by the Reserve Bank of India (RBI).

• Subdued corporate Q2 results also weighed on market sentiment.

• India's CPI (Consumer Price Index): Measures the change in prices paid by consumers for goods and services, and an increase in this index often signals inflationary pressures.

Key Stock Movements and News

• Top Gainers: ICICI Bank, Bharti Airtel, BPCL, Britannia Industries, Bharat Electronics.

• Top Losers: Bajaj Auto, Wipro, Bajaj Finance, Hindalco, HDFC Life.

• Reliance Industries: Fell -2% after disappointing Q2 results. Revenue stood at Rs 2.35 lakh crore, and profit dropped to Rs 16,563 crore (-4.8% YoY).

• HCL Tech: Rose +1% on slightly raising its FY25 revenue guidance.

• Network 18 and TV Broadcast 18: Gained +10% and +8%, respectively, following Reliance’s update on Disney merger completion by Q3FY25.

• Va Tech Wabag: Hit a record high after securing a Rs 1,000 crore desalination project from Indosol Solar.

• Oil Stocks: Indian Oil (+1%), BPCL (+3%), and HPCL (+5%) advanced on a -5% drop in Brent crude prices.

• Ola Electric: Surged +5% after strong festive season sales boosted market share to 34%.

• CESC Arm: Set to acquire 100% of Deshraj Solar Energy.

• HCL Tech: Positive outlook due to raised FY25 revenue guidance.

• Reliance Industries: Monitoring after the Q2 results impact.

• BPCL & HPCL: Benefiting from declining crude prices.

• Network 18 & TV Broadcast18: Gaining traction due to the Disney merger update.

• Va Tech Wabag: Strong after bagging significant contracts.

Indian markets witnessed a decline with Nifty below 25,100, affected by global cues, rising food prices, and cautious investor sentiment. While certain sectors like Realty and Media performed well, others like Metal and Auto were under pressure. With mixed trends in global markets, the domestic market is moving with caution ahead of further Q2 results and potential inflationary challenges.

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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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