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Oil India Under Pressure, HDFC Life Reports Profit Growth, Angel One Surges, Hyundai’s Subscription Update, and Waaree Energies IPO Launch
Oil India Under Pressure, HDFC Life Reports Profit Growth, Angel One Surges, Hyundai’s Subscription Update, and Waaree Energies IPO Launch
Written by - Fisdom Research
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October 15, 2024
2 minutes
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Market Snapshot
The market could not maintain its opening gains and ended negatively on October 15, with Nifty closing below 25,100 due to declines in the auto, metal, and pharma sectors.
Sector performance was mixed, with the metal index falling, the auto index decreasing nearly 1%, and the pharma index dropping. In contrast, the realty index rose, and the media index saw a small increase.
Broader indices outperformed, with the BSE midcap index and smallcap index both recording gains.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY REALTY
2.1
NIFTY FMCG
0.4
NIFTY MIDSMALL HEALTHCARE
0.9
NIFTY BANK
0.2
NIFTY MEDIA
0.6
NIFTY FINANCIAL SERVICES
0.0
NIFTY CONSUMER DURABLES
0.4
NIFTY PRIVATE BANK
-0.1
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,800
25,250-25,400
Bank Nifty
50,500
52,000
Top News
A 4% drop in crude prices may negatively impact Oil India by squeezing profit margins. Refineries with inventories bought at higher prices could face losses if refined product prices don’t decrease proportionately.
HDFC Life’s Q2 FY25 net profit rose 15% to Rs 433 crore, supported by strong premium collections and investment income. Despite a 12% increase in net premium income, the stock fell nearly 4% due to disappointing market expectations.
Angel One shares surged 8% after the broker reported a 39% year-on-year increase in net profit to Rs 423 crore and a 45% rise in revenue to Rs 1,515 crore for Q3 2024.
Gautam Solar to Raise Rs 1,000 Crore via IPO for Expansion
Hyundai Motor India Limited, Issue subscribed 15% so far
Waaree Energies IPO to open for subscription on October 21
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