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Bharat Electronics Drops, JM Financial Gains, Hero MotoCorp Slips, and IPO Buzz from Dr. Agarwal, Diffusion Engineers, and Swiggy
Bharat Electronics Drops, JM Financial Gains, Hero MotoCorp Slips, and IPO Buzz from Dr. Agarwal, Diffusion Engineers, and Swiggy
Written by - Fisdom Research
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September 30, 2024
2 minutes
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Market Snapshot
Bears dragged the BSE Sensex down by over 1,300 points and Nifty below 25,800 amid geopolitical tensions and anticipation of Jerome Powell’s speech.
Metal and media sectors gained 1 percent each, while auto, bank, IT, telecom, pharma, and realty fell by 1-2 percent.
The BSE midcap index ended with minor losses, and the smallcap index remained flat.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY METAL
1.3
NIFTY FMCG
-0.5
NIFTY MEDIA
1.1
NIFTY OIL & GAS
-0.7
NIFTY MIDSMALL HEALTHCARE
-0.3
NIFTY IT
-0.9
NIFTY CONSUMER DURABLES
-0.3
NIFTY HEALTHCARE INDEX
-0.9
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
25,700-25,600
26,000
Bank Nifty
51,600
52,500
Top News
Bharat Electronics shares slipped over 3 percent on their Nifty 50 debut, replacing Divis Laboratories and LTIMindtree on September 27.
JM Financial shares rose 6 percent after its subsidiary, JM Financial Products, approved the sale of its MSME loan portfolio for Rs 1,000 crore on September 27.
Hero MotoCorp underperformed on the Nifty Auto index, with UBS maintaining a ‘sell’ rating due to market share losses, resulting in a nearly 4 percent drop in the stock.
Eyecare chain Dr Agarwal Health Care files IPO papers
Diffusion Engineers IPO subscribed 72x on Day 3
Swiggy refiles IPO papers for Rs 3,750 crore fresh issue
Focus Smallcase Updates
The Fisdom Prime Five Smallcase achieved approximately 15% returns over the last three months, significantly outperforming the benchmark index.
Trade Ideas
Two stocks booked a 15% gain during intraday trading today.
