Nifty slips below 25000 mark.

*Review & Preview @4PM —— Wednesday, October 16th 2024*

NIFTY (-86, 24971)
Sensex (-319, 81501)
Bank Nifty (-105, 51801)

Nifty slips below 25000 mark.

Risk-on sentiment falters on

1) Persistent FIIs selling.
2) Uninspiring corporate India’s Q2 earnings.
3) Uncertainty over the Middle East conflict.
4) China concerns.

# Buzzing stocks:

1) RailTel jumps 6.7% on winning ₹79 crore order from MHADA. Investors have responded positively to RailTel’s consistent flow of orders this year, contributing to a 31% increase in the company’s share value year-to-date.

2) Stock prices of capital market-related sectors like asset management companies (AMCs) and broking firms were in limelight after HDFC AMC and Angel One posted a strong September quarter (Q2FY25) earnings.

3) Antony Waste Handling Cell shares jumped 7% after it informed that it has collected and transported (C&T) a record among of waste materials at 0.49 tonnes in the quarter ended September 30, 2024.

# Sentimental Overview:

Hyundai India IPO subscribed 29% on Day 2 so far, retail portion booked 36%; GMP continues to decline.

Hyundai India shares will be listed on both NSE and BSE on October 22 while shares will be allotted to successful bidders on October 18.

# Technical Overview:

The benchmark Nifty was seen drifting down for the second day in a row as profit booking continued to be the preferred theme.

Please note, technically, confirmation of strength only above Nifty’s biggest hurdles at 25300 mark.

Nifty’s biggest support is placed only at 24795 and then downside risk at 24413 mark.

Nifty’s 200 DMA at 23280 mark.

# Outperforming Nifty Sectors:
Nifty REALITY (+0.41%)
Nifty OIL & GAS (+0.13%)
Nifty INFRA (+0.08%)

# Underperforming Nifty Sectors:
Nifty Auto (-1.34%)
Nifty IT (-1.22%)
Nifty Media (-0.61%)

# Bulls of the day:
HDFCLIFE (+1.79%)
DRREDDYA LAB (+1.34%)
GRASIM (+1.05%)
BHARTIARTL (+1.32%)
HDFC BANK (+0.97%)
BAJAJ AUTO (+0.88%)

# Bears of the day:
TRENT (-3.61%)
M&M (-2.78%)
INFY (-2.10%)
HEROMOTO CORP (-2.10%)
ADANI PORTS (-1.39%)
(Source NSSEINDIA.com)

Disclaimer: This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Returns mentioned herein are in no way a guarantee or promise of future returns. Stock market investments are subject to market risks.