Apollo’s Earnings Shine, Hindalco Slips, Swiggy IPO Sees Early Buzz
Written by - chandrashekar
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November 7, 2024
2 minutes
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Market Snapshot
The Nifty and Sensex closed November 7 with sharp losses as selling pressure increased across the market.
Metal stocks were hit the hardest during the session, contributing significantly to the day’s decline.
Investors adopted a cautious approach ahead of the upcoming US Federal Reserve interest rate decision.
The downtrend followed a brief rally after Donald Trump’s presidential nomination the previous day..
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY MEDIA
-0.2
NIFTY HEALTHCARE INDEX
-0.9
NIFTY IT
-0.7
NIFTY FINANCIAL SERVICES
-0.9
NIFTY OIL & GAS
-0.7
NIFTY PRIVATE BANK
-0.9
NIFTY BANK
-0.8
NIFTY CONSUMER DURABLES
-0.9
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,000
24,500
Bank Nifty
51,600
52,600
Top News
Apollo Hospitals jumped 6.5% as its July-September net profit surged 59% YoY to Rs 395.7 crore, with revenue rising 15% to Rs 5,589.3 crore.
Hindalco shares dropped over 6% following a disappointing Q2 report from its subsidiary, Novelis Inc, which saw an 18% decline in net income to $128 million.
Avalon Technologies rallied 20% after reporting a 140% YoY increase in Q2 net profit to Rs 17.48 crore.
Sagility India IPO subscribed 65% on last day
Swiggy IPO Day 2 Live Updates: Swiggy IPO subscribed 34% so far
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