Nifty trades fragile after a positive start.

*Review & Preview @4PM —— Tuesday, October 15th 2024*

NIFTY (-71, 25057)
Sensex (-153, 81820)
Bank Nifty (+89, 51906)

Nifty trades fragile after a positive start.

Lack of follow-through buying blamed as all anxious eyes turn to announcement of Maharashtra and Jharkhand election dates.

Reliance shares fall 2% after soft Q2 results.

# Buzzing stocks:

1) HDFC Life tumbled 2.58% despites its Q2 FY25 net profit jumped 15% year-on-year to Rs 433 crore, led by healthy premium collections and investment income. The insurer’s net premium income for the July-September quarter rose 12.3 percent on-year to Rs 16,570 crore.

2) Transformers & Rectifiers hits 5% upper circuit logging an all-time high of Rs 860.25 per share. The stock gained after various funds bought stakes in the company on Monday.

The company reported its second quarter (Q2FY25) results on October 8, 2024. Transformers and Rectifiers (India) Ltd registered a significant year-on-year (Y-o-Y) rise in net profit of 2,731% to Rs 45.3 crore for the second quarter ending on September 30, 2024. In the same quarter of the previous fiscal, the company had posted a net profit of Rs 1.6 crore.

# Sentimental Overview:

Hyundai Motor India’s Rs. 27870-crore IPO saw a steady response on first day of subscription with 16% of the overall offer getting subscribed.

# Technical Overview:

The benchmarks were not seen making any convincing moves in either direction.

After today’s sluggish action, 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 23263 mark.

# Outperforming Nifty Sectors:
Nifty REALITY (2.07%)
Nifty MEDIA (+0.76%)
Nifty FMCG (+0.38%)

# Underperforming Nifty Sectors:
Nifty Metal (-1.49%)
Nifty Auto (-0.82%)
Nifty Energy (-0.65%)

# Bulls of the day:
BPCL (+2.52%)
ICICIBANK (+1.97%)
BHARTIARTL (+1.32%)
BRITANNIA (+1.22%)
ASIANPAINTS (+1.18%)

# Bears of the day:
HDFCLIFE (-3.58%)
WIPRO (-3.07%)
BAJAJ AUTO (-3.04%)
BAJFINANCE (-2.48%)
HINDALCO (-2.19%)
(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.