Market Commentary     04-Nov-24
Mid-Session
Nifty drops below 24,000; oil & gas shares under pressure
The domestic equity benchmarks traded with steep losses in morning trade. The Nifty tanked below the crucial 24,000 level. Oil & gas shares declined after advancing in the previous trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex slumped 1,102.87 points or 1.38% to 78,627.24. The Nifty 50 index dropped 360.70 points or 1.48% to 23,943.65.

In the broader market, the S&P BSE Mid-Cap index declined 1.30% and the S&P BSE Small-Cap index fell 1.89%.

The market breadth was weak. On the BSE, 1,056 shares rose and 2,714 shares fell. A total of 156 shares were unchanged.

Result Today:

Indian Railway Catering and Tourism Corporation (IRCTC) (down 2.62%), Bata India (down 0.92%), Exide Industries (down 2.14%), Hatsun Agro Product (up 3.58%), KEC International (down 2.62%) and Raymond (down 1.95%) will announce their results later today.

New Listing:

Shares of Afcons Infrastructure were currently trading at Rs 450.25 at 10:15 IST on the BSE, representing a discount of 2.75% as compared with the issue price of Rs 463.

The scrip was listed at Rs 430.05, exhibiting a discount of 7.11% to the issue price.

So far, the stock has hit a high of 453.75 and a low of 419.85. On the BSE, over 10.95 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Oil & Gas index slipped 2.90% to 11,110.85. The index rose 0.84% in the past trading session.

Indian Oil Corporation (down 4.50%), Hindustan Petroleum Corporation (down 3.24%), Bharat Petroleum Corporation (down 3.04%), Mahanagar Gas (down 2.79%), Reliance Industries (down 2.54%), Oil & Natural Gas Corpn (down 2.15%), Gujarat Gas (down 2.13%), Oil India (down 1.98%), GAIL (India) (down 1.66%) and Castrol India (down 1.64%) declined.

Stocks in Spotlight:

Bajaj Auto dropped 4.15%. The auto major reported 2% rise in total auto sales to 4,79,707 units in October 2024 as against 4,71,188 units in October 2023.

Zen Technologies slipped 1.91%. The company reported standalone net profit of Rs 17.34 crore in Q2 FY25, zoomed 276.18% to Rs 65.23 crore posted in Q2 FY24.Revenue from operations spiked 277.44% year on year (YoY) to Rs 241.68 crore in the quarter ended September 2024.

Adani Ports and Special Economic Zone declined 2.74%. The company said that it had handled 37.9 MMT of total cargo in October 2024, which is higher by 2.43% as compared with 37 MMT of cargo handled in October 2023.

Previous News
  Adani Ports records 12% jump in handled cargo volume for Jun'25
 ( Corporate News - 02-Jul-25   10:39 )
  Adani Ports handles 41.3 MMT of cargo volumes in June’25; total volume for Q1 FY26 rises by 11% YoY
 ( Hot Pursuit - 02-Jul-25   09:38 )
  Bajaj Auto to hold board meeting
 ( Corporate News - 01-Jul-25   10:26 )
  Bajaj Auto sells 3.60 lakh auto units in June'25; exports rise by 21% YoY
 ( Hot Pursuit - 01-Jul-25   09:29 )
  Bajaj Auto sells 3.60 lakh units in June 2025
 ( Corporate News - 01-Jul-25   09:24 )
  ZEN Technologies ends higher after receiving patent for long-pass optical filter
 ( Hot Pursuit - 30-Jun-25   18:44 )
  Titagarh Rail Systems Ltd Spikes 2.41%
 ( Hot Pursuit - 30-Jun-25   09:30 )
  Zen Tech jumps after board nod to acquire majority stake in TISA Aerospace
 ( Hot Pursuit - 23-Jun-25   10:59 )
  Adani Ports drops 9.24% in seven days as Israel-Iran tensions escalate
 ( Hot Pursuit - 19-Jun-25   15:25 )
  Bajaj Auto receives affirmation in credit rating
 ( Corporate News - 06-Jun-25   15:10 )
  Barometers pare early losses; private bank shares jump
 ( Market Commentary - Mid-Session 03-Jun-25   10:38 )
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  Indices trade in positive terrain; European mrkt advance
  03-Jul-25   13:40
  Nifty tad above 25,500 level; consumer durables shares rally for 4th day
  03-Jul-25   12:32
  Indices trade higher; auto shares rally for 2nd day
  03-Jul-25   11:37
  Nifty above 25,550 mark; oil & gas shares jump
  03-Jul-25   10:39
  Barometers edge lower; breadth positive
  03-Jul-25   09:41
  Benchmarks trade with substantial losses; financial services shares under pressure
  02-Jul-25   14:37
  Barometers trade in negative terrain; European mrkt advance
  02-Jul-25   13:41
  Nifty below 25,500 level; metal shares in demand
  02-Jul-25   12:33
  Nifty slides below 25,500 level; PSU bank shares decline
  02-Jul-25   11:38
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