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M&M Hits Record SUV Sales, Azad Engineering Soars, Oil Marketing Companies Slide, IPO Highlights Swiggy, Reliance Jio, Niva Bupa Healthcare
M&M Hits Record SUV Sales, Azad Engineering Soars, Oil Marketing Companies Slide, IPO Highlights Swiggy, Reliance Jio, Niva Bupa Healthcare
Written by - Fisdom Research
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November 4, 2024
2 minutes
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Market Snapshot
Indian markets declined on November 4 due to sustained foreign investor selling and weaker-than-expected September quarter earnings.
This decline is attributed to profit booking and increased volatility ahead of the U.S. presidential election and anticipated Federal Reserve rate decisions.
BSE MidCap and SmallCap indices down by 1.3 percent and 1.65 percent, respectively.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY IT
-0.03
NIFTY PHARMA
-0.7
NIFTY PSU BANK
-0.2
NIFTY BANK
-0.9
NIFTY HEALTHCARE INDEX
-0.4
NIFTY AUTO
-1.0
NIFTY MIDSMALL HEALTHCARE
-0.5
NIFTY CONSUMER DURABLES
-1.1
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,000
24,200-24,300
Bank Nifty
51,000-50,800
51,700-52,000
Top News
Mahindra & Mahindra stock gained over 2 percent following the company’s impressive 25 percent year-on-year increase in SUV sales, hitting a record high of 54,504 units in October—marking its best-ever monthly performance.
Azad Engineering shares jumped 8% after securing a ₹700 crore long-term contract with Mitsubishi Heavy Industries for supplying advanced turbine components.
Shares of oil marketing companies (IOCL, BPCL, HPCL) fell up to 5% after Goldman Sachs issued a bearish outlook, citing weak marketing and refining performance in Q2FY25 results.
ACME Solar Holdings IPO: Renewable Energy Giant Eyes Rs 2,900 Cr Public Issue
Swiggy sets price band between Rs. 371-390
Reliance Jio IPO set for 2025
Niva Bupa Healthcare to launch Rs 2,200 crore IPO on November 7
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