Summary of the Day's Market Performance

• Sensex and Nifty both declined over 1%, with Sensex closing down by 1.13% Sensex surged 694.39 points (+0.88%) to close at 79,476.63, while Nifty gained 197.20 points (+0.82%) to end at 24,192.50.

• BSE Midcap and Smallcap indices rose by 0.4% each.

• Sector Highlights:

  • Gains in banking, metals, auto, and oil & gas sectors (up 1-2%) led the recovery.

  • FMCG and Media were the only sectors to close in the red.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-2,569.41 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹3,030.96 crore (Net Buyers)

Foreign Institutional Investors (FII) continued selling, while Domestic Institutional Investors (DII) provided solid support with net purchases.

• Domestic Recovery Signs: Recent manufacturing data uplifted market sentiment, suggesting economic resilience.

• China Stimulus Boost: Anticipated stimulus from China increased demand projections in the metals sector, encouraging investor optimism.

• America’s election kicks off Today! Whatever happens in the land of the free affects Indian markets, too, especially since this will be an extremely close race.

Key Stock Movements and News

• Top Gainers: JSW Steel, Tata Steel, Hindalco Industries, Bajaj Auto, Axis Bank.

• Top Losers: Coal India, Trent, Adani Ports, Asian Paints, ITC.

• IGL (+2%): In focus after a positive outlook by Citi, which sees a +25% upside.

• RVNL: Stock rose on securing an ₹837 crore project.

• NMDC (+4%): Announced it would consider a bonus issue proposal on Nov 11.

• Suzuki Motor: Launched the e Vitara, its first electric vehicle, with sales starting in 2025.

• Afcons Infrastructure (+4.5%): Institutional interest surged, with Goldman Sachs and Nomura buying a combined 2.7% stake.

• Premier Energies: Shares jumped +10% after securing orders worth ₹560 crore.

• E2E Networks: Major institutional interest and acquisition by L&T show potential growth in cloud infrastructure.

• IGL: Positive growth outlook in the energy sector, with analysts anticipating a 25% price rise.

• RVNL: Project wins add growth opportunities in infrastructure.

Today’s strong rebound recouped previous losses, backed by encouraging domestic manufacturing data and sectoral strength, especially in metals and banking. DIIs provided a buying cushion, driving stocks like E2E Networks, Premier Energies, and NMDC higher. As sentiment builds around China’s anticipated economic boost and an uptick in local consumption, these companies stand well-positioned for gains.

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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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