Summary of the Day's Market Performance

• The festive spirit lifted markets on October 28, with the Sensex gaining 602.75 points (+0.76%) to close at 80,005.04, while the Nifty rose by 158.40 points (+0.66%) to 24,339.20.

• Midcap and Smallcap indices also posted gains, up by 0.7% and 1%, respectively.

• All sectoral indices ended in the green, with PSU Bank leading at +3.8%, followed by Metal (+2.5%), and Pharma, Media, and Realty sectors all up by over 1%.

Performance of Key Sectors

• PSU Bank: Strong performance, climbing 3.8%, as investors favored the sector’s stability amid a broad market rally.

• Metal and Pharma: Both sectors saw robust buying interest, with gains of 2.5% and over 1%, respectively, on the back of improving global sentiment.

• Realty: Rose over 1%, reflecting positive investor sentiment as the festive season kicks off.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-3,228.08 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹1,400.85 crore (Net Buyers)

Despite FIIs maintaining a net-seller stance, Domestic Institutional Investors (DII) stepped in, supporting the rally and offsetting some selling pressure.

• This session marked a rebound from last week’s continuous selloff, driven by positive bank earnings and a dip in oil prices as tensions in the Middle East eased.

• Investors are showing cautious optimism, but sustained gains will depend on further earnings improvement, especially in sectors facing demand and margin pressures.

• Companies with stronger balance sheets and future growth potential are likely to outperform once the market stabilizes.

• 66% Premium IPO Listing: Waaree Energies shares made a debut at ₹2,500 on NSE, 66.3% above their IPO issue price of ₹1,503, underscoring robust investor appetite for renewable energy plays.

Key Stock Movements and News

• Top Gainers:

  • Shriram Finance, Adani Enterprises, ICICI Bank, Eicher Motors, Wipro

• Top Losers:

  • Coal India, Bajaj Auto, Axis Bank, Kotak Mahindra Bank, Hero MotoCorp

• Rail Vikas Nigam Ltd (RVNL): Secured an order worth ₹187 crore from East Central Railway.

• Bank of Baroda: Jumped 6% on the back of strong Q2 earnings and solid asset quality.

• United Breweries: Dropped 2% following a Citi downgrade due to regulatory and operational concerns affecting its margins.

• IDFC First Bank: Plunged 9% after posting a 73% drop in Q2 net profit.

• Adani Power: Q2 profit halved to ₹3,298 crore from ₹6,594 crore year-on-year; revenue up 3% to ₹13,339 crore.

• Bandhan Bank: Shares climbed 8% as Q2 profits surged by 30%.

• Suven Pharma: Received NCLT approval for its merger with Casper Pharma.

• Deepak Builders & Engineers: Listed at a 1.5% discount on its IPO price.

• Bank of Baroda: With strong earnings and asset quality, it could continue attracting investors.

• Waaree Energies: After its stellar IPO listing, its momentum may be sustained in the short term.

• Bandhan Bank: Impressive Q2 growth makes it one to watch, especially with festive season tailwinds.

The Diwali season brought a sparkle to the markets, with indices recovering after a tough week. Gains in PSU Banks, Metals, and broader indices reflect a cautiously optimistic sentiment, while FIIs remain net sellers. With a focus on stable balance sheets and demand-driven sectors, market participants remain hopeful for a prosperous season ahead.

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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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