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Bajaj Finance Declines Despite Loan Growth; Avenue Supermarts and Mahindra Financial Shares Also Drop and Upcoming IPO Developments
Bajaj Finance Declines Despite Loan Growth; Avenue Supermarts and Mahindra Financial Shares Also Drop and Upcoming IPO Developments
Written by - Fisdom Research
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October 4, 2024
2 minutes
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Market Snapshot
Indian equity markets closed lower on October 4, marking the fourth consecutive losing session due to rising geopolitical tensions.
Most sectoral indices, except PSU Bank and IT, fell, with auto, FMCG, realty, power, media, telecom, and oil & gas down 1-2%.
BSE Midcap and Smallcap indices also dropped, losing nearly 1% each.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY PSU BANK
0.5
NIFTY METAL
-0.4
NIFTY IT
0.4
NIFTY HEALTHCARE INDEX
-0.6
NIFTY MIDSMALL HEALTHCARE
-0.3
NIFTY BANK
-0.7
NIFTY PHARMA
-0.4
NIFTY PRIVATE BANK
-0.8
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,800
25,300-25,400
Bank Nifty
51,000-50,700
52,000-52,500
Top News
Bajaj Finance was the biggest laggard in the Nifty today, dropping 2.86%, despite reporting a 14% growth in new loans booked during Q2FY25 in its Q2 updates.
Avenue Supermarts, DMart’s operator, fell 4.40% after reporting a 14% YoY revenue growth to ₹14,050 crore in Q2FY25. Analysts gave mixed reviews, citing concerns about growth speed.
Mahindra & Mahindra Financial Services shares fell nearly 7% on October 4 due to a decline in asset quality and growth during the July-September period.
Swiggy shareholders give nod to up IPO fresh issue component to Rs 5,000 crore
Highway Infrastructure, Jaro Education file DRHPs with Sebi to raise funds through IPO
Garuda Construction and Engineering IPO to open on Oct 8; sets price band Rs 92-95/ share
Focus Smallcase Updates
The Fisdom Prime Five Smallcase achieved approximately 11% returns over the last three months, Outperforming the key benchmark index consistently.
