Home Finance Stock Market Today: Market Rallies, Sensex Closes Strong at 66,079, Nifty at 19,690, Airtel Tops Gainers

Stock Market Today: Market Rallies, Sensex Closes Strong at 66,079, Nifty at 19,690, Airtel Tops Gainers

by khushahal vishwakarma
Stock Market

Stock Market Today News: The Sensex has surged by 567 points, closing at 66,079, while the Nifty has gained 178 points, closing at 19,690.

Amid the Israel-Palestine conflict, domestic markets have shown signs of recovery. Both the Sensex and Nifty have witnessed a rally in today’s trading session. The Sensex has seen a robust gain of nearly 550 points, while the Nifty has approached the 19,700 mark. Almost every sector has seen buying in today’s trading.

The Nifty has shown gains in sectors like banking, financials, IT, metals, FMCG, auto, pharma, and realty indices, all closing in the green. Currently, the Sensex has risen by 567 points and closed at 66,079, while the Nifty has surged by 178 points, ending the day at 19,690. Heavyweight stocks have seen buying interest, with 27 out of 30 Sensex stocks closing in the green. Today’s top gainers include BHARTIARTL, KOTAKBANK, JSWSTEEL, TATA MOTORS, M&M, and TECHM, while losers include INDUSINDBK, TCS, and TITAN.

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Stock Market Today Update :

Ajmera Realty Sales Witness 52% YoY Growth: In the second quarter of the fiscal year 2024, Ajmera Realty has reported a 52% YoY growth in sales. During this period, the company has also secured three new projects with a total value of INR 800 crores. The sales area has increased by 51% annually to reach 120,787 square feet, and the sales value has seen a 52% annual increase, reaching INR 252 crores. Additionally, collections have increased by 8% annually, totalling INR 111 crores.

L&T Bags Several Major Contracts Larsen & Toubro (L&T): an engineering and construction conglomerate, has secured several significant contracts for its water and wastewater treatment unit. While the exact value of these contracts has not been disclosed, they are categorized as “important” contracts, estimated to range between INR 1,000 crores to INR 2,500 crores according to contract classification. These contracts are part of L&T’s ongoing efforts to mitigate climate risks and ensure sustainable financial support, evaluating its INR 33 lakh crore portfolio.

Bani Verma Appointed as Director of BHEL: The public sector company, Bharat Heavy Electricals Limited (BHEL), announced the appointment of Bani Verma as Director of industrial Systems & Products). Previously, Verma had been leading BHEL’s Electronics Division’s manufacturing unit in Bangalore, alongside the transportation business. Bani Verma holds a degree in electrical engineering from the Delhi College of Engineering and commenced her career with BHEL in 1990 as a trainee.

Credo and ARBJ Jewelers: IPO Credo Brands Marketing Limited and Ahmedabad-based jewellery company ARBJ Jewelers Limited have received approval from the Securities and Exchange Board of India (SEBI) to initiate their initial public offerings (IPOs). Credo Brands Marketing Limited is the owner of the denim brand Mufti. As per information released by the Securities and Exchange Board of India (SEBI), both Credo Brands Marketing Limited and ARBJ Jewelers received observation letters from SEBI on September 28 and October 6, respectively.

India’s Unemployment Rate In India: the unemployment rate for individuals aged 15 years and above remained at 3.2% for the period from July 2022 to June 2023, which is lower than the 4.1% rate for the previous year. The unemployment rate is defined as the percentage of unemployed individuals in the labour force. According to the Annual Labor Force Survey by the National Sample Survey Office (NSSO), the national unemployment rate for individuals aged 15 years and above was 3.2% in 2022-2023, down from 4.1% in 2021-2022.

Dilip Buildcon News: Dilip Buildcon has signed an agreement to undertake the construction and maintenance of Devas III and IV dams in Gogunda, Udaipur, Rajasthan, based on an engineering, procurement, and construction (EPC) turnkey basis in the water resources sector. This project, valued at INR 396.93 crores, is expected to be completed within 44 months.

SBI News: The State Bank of India (SBI) is working on assessing environmental risks for borrowers who are taking loans and is offering special concessions for green initiatives. SBI Chairman Dinesh Khara stated that the bank is measuring the carbon footprint of its INR 33 lakh crore portfolio to reduce environmental risks and support sustainable financing. The bank has initiated working on the assessment of environmental risks at a level where it offers special concessions for green initiatives.

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Adani Ports News: Adani Ports and Special Economic Zone (SEZ) has taken steps to ensure the safety of its employees stationed at the Haifa Port in Israel and has confirmed that all employees are safe. Adani Ports is closely monitoring the situation at the Haifa Port and has devised plans to continue business effectively in case of any adverse circumstances.

Maruti Suzuki News: Maruti Suzuki India’s total capital expenditure can reach approximately INR 1.25 lakh crore by 2030-31. The company plans to expand its product lineup from 17 to 28 models and increase production capacity. India’s largest carmaker is investing in expanding its total production capacity to 4 million units per year by 2030-31.

Tata Steel News: Fitch Ratings has upgraded Tata Steel Limited (TSL), the domestic steel company, and its subsidiary, ABJA Investment Company Private Limited (ABJA), to ‘BBB-‘ with a stable outlook. The rating agency has also raised the rating on the US dollar notes issued by ABJA Investment Company. The rating for TSL’s subsidiary, ABJA Investment Company, has been upgraded from ‘BBB+’ to ‘BBB-‘.

NSE Bans L&T Finance: Holdings and MCX in F&O Segment The National Stock Exchange (NSE) has included L&T Finance Holdings and MCX in the F&O ban list for October 10. In contrast, Delta Corp, Indiabulls Housing Finance, Manappuram Finance, and Punjab National Bank have remained on the F&O ban list. Companies in the F&O ban list are those where derivative contract market-wide position limits exceed 95%.

FIIs and DIIs Data: As per provisional data from the National Stock Exchange (NSE), foreign institutional investors (FIIs) were net sellers on October 9, with sales of shares amounting to INR 997.76 crore. In contrast, domestic institutional investors (DIIs) were net buyers and purchased shares worth INR 2,661.27 crore on the same day.

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