Summary of the Day's Market Performance

Market Overview

• Sensex: Up 318.74 points (+0.42%) to close at 77,042.82.

• Nifty: Rose 98.60 points (+0.42%) to settle at 23,311.80.

• Midcap Index: Climbed 1%.

• Smallcap Index: Increased 1.4%.

• Sectoral Highlights:

  • Gainers: Metal, Media, Oil & Gas, PSU Bank, Realty, Auto (up 0.5%-2.5%).

  • Losers: Consumer Durables, IT, FMCG, Pharma.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-4,341.95 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹3,682.54 crore (Net Buyers)

Persistent selling by FIIs amidst global concerns continues to pressure domestic markets.

1. Global Triggers:

   • US Inflation Data: Mild inflation raises hopes of a potential Fed rate cut, boosting market sentiment.

   • Geopolitical Relief: Positive developments in the Israel-Hamas ceasefire further buoy investor confidence.

2. Domestic Support:

   • Reduced trade deficit and bargain buying in broader markets contributed to gains.

3. Cautionary Notes:

   • Weak economic growth data from the UK tempered optimism.

   • Elevated valuations still pose a challenge for Indian markets relative to global peers.

What is Mild Inflation?

• Mild inflation refers to a gradual and controlled increase in prices, which is typically considered positive for economic growth as it encourages spending and investment without eroding purchasing power significantly.

Key Stock Movements and News

• Top Gainers:

  • HDFC Life, Shriram Finance, SBI Life Insurance, Bharat Electronics, Adani Ports.

• Top Losers:

  • Trent, Tata Consumer, Dr. Reddy's Labs, HCL Tech, Wipro.

1. Infosys:

   • Q3 net profit surged 11% YoY to ₹6,806 crore, beating estimates. Raised FY25 revenue growth guidance to 4.5%-5%.

2. Adani Group:

   • Stocks surged up to 7% following the exit of US short-seller Hindenburg Research, which had previously launched a campaign against the group.

3. Bharat Dynamics:

   • Shares jumped on signing a ₹2,960-crore contract with the Defence Ministry for MRSAM supply to the Indian Navy.

4. Railway Stocks:

   • Stocks like IRFC, RVNL, and Ircon surged as the government plans to increase the rail budget by 18% for FY26.

5. Gensol Engineering:

   • Shares jumped 7% after signing an EV transfer deal with Refex Green Mobility, marking progress in sustainable mobility.

6. Sugar Stocks:

   • Praj Industries and Balrampur Chini gained up to 6% on expectations of Cabinet approval for an ethanol price hike.

7. RVNL:

   • Shares climbed 9% after securing a ₹3,622-crore order from BSNL, including a 10-year maintenance contract.

8. Azad Engineering:

   • Shares soared 9% after bagging a ₹960-crore order from US-based GE Vernova for gas turbine components.

9. Zomato:

   • Added to CLSA’s ‘High Conviction’ list with a target price of ₹400, representing a 64% upside potential.

1. Infosys: Revised FY25 guidance and strong Q3 results make it a stable pick.

2. RVNL: Robust order book and government focus on rail infrastructure offer growth potential.

3. Bharat Dynamics: Defence contracts strengthen long-term visibility.

4. Zomato: Strong upside potential as per CLSA’s bullish outlook.

5. Adani Group: Recovery from past challenges positions it for renewed investor confidence.

Indian markets extended gains for the third consecutive session as favorable global and domestic triggers fueled optimism. Bargain buying across broader markets lifted indices, while sectors like PSU Banks, Realty, and Auto outperformed. Investor sentiment remains buoyed by US inflation relief and geopolitical developments, but global uncertainties and high valuations warrant cautious optimism. Look at sectoral leaders like Infosys, RVNL, and Zomato for potential opportunities.

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