Summary of the Day's Market Performance

• Indian equity indices ended lower for the third consecutive session on October 17, with Nifty at 24,750.

• Sensex fell 494.75 points or 0.61% to 81,006.61, and Nifty was down 221.50 points or 0.89% at 24,749.80.

• Both BSE midcap and smallcap indices shed over 1% each.

• Sector-wise performance: Only the Information Technology index gained (+1%), while Auto, Media, and Realty were the worst performers, dropping 2-3%.

Performance of Key Sectors

• Gainers: IT sector outperformed, closing up by 1%.

• Losers: Auto, Media, Realty, Consumer Durables, and Finance sectors witnessed broad-based selloffs, with losses ranging from 2-3%.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-7,421.40 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹4,979.83 crore (Net Buyers)

Foreign Institutional Investors (FII) continued to remain net sellers, while Domestic Institutional Investors (DII) showed buying support.

• The market saw significant losses due to broad selloffs across multiple sectors, driven by weak festive season sales forecasts, high NPAs (Non-Performing Assets), and sluggish credit growth.

• Weak Q2 earnings results further weighed on market sentiment, while the IT sector emerged as a contrarian play with in-line results.

• DII Milestone: For the first time ever, Domestic Institutional Investors (DIIs) have crossed ₹4 lakh crore in net investments in a single year, highlighting their increasing influence on Indian markets.

Key Stock Movements and News

• Top Gainers: Tech Mahindra, Infosys, L&T, Power Grid Corp, SBI.

• Top Losers: Bajaj Auto, Shriram Finance, Hero MotoCorp, Nestle, M&M.

• Reliance Industries: Declared October 28 as the record date for its 1:1 bonus issue.

• Paytm: FPIs (Foreign Portfolio Investors) like Societe Generale, UBS, and Tiger Pacific reduced their stakes to below 1%, despite a recent rally. The stock remains down 25% YoY amid widening losses and falling revenues.

• IRCTC: Shares declined after Indian Railways reduced the advance reservation period to 60 days.

• Titagarh Rail Systems: Gained +3% after Morgan Stanley picked up a 0.57% stake worth ₹85.5 crore via a bulk deal.

• Manba Finance: Newly listed stock soared +12% on the announcement of an interim dividend consideration on October 24.

• Geojit Financial: Reported a 53.6% YoY rise in Q2 net profit to ₹55.6 crore, compared to ₹36.2 crore in the same period last year.

• Kolte-Patil Developers: Shares rose +3% after reporting record quarterly sales of ₹770 crore (+22% YoY) in Q2.

• CRISIL: Rallied +8% intraday after posting a 13% YoY rise in net profit before retracing gains.

• Reliance Industries: Upcoming bonus issue may drive near-term sentiment.

• Kolte-Patil Developers: Strong quarterly sales could support further gains.

• Manba Finance: Potential interim dividend consideration.

• Titagarh Rail Systems: Recent stake acquisition by Morgan Stanley signals confidence.

• CRISIL: Post-profit bump may attract further interest despite intraday pullback.

Indian markets extended their losses for the third straight session as weak Q2 results, high NPAs, and slow credit growth spurred widespread selloffs, particularly in Auto, Media, and Realty sectors. The IT sector was a rare bright spot, rising on in-line results. Meanwhile, FIIs continued to be net sellers, though DII inflows hit a record high.

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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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