Sensex Nifty Today: Amid positive signals from global markets, there may be movement in the Indian stock market today. Due to sudden buying after initial sluggishness, Sensex jumped by +599.75 (0.71%) points to reach the level of 84,811.63. At the same time, Nifty also gained great momentum and touched the figure of 25,966.40 with a gain of +171.25 (0.66%) points.
On the last trading day, Sensex slipped 344 points to close at 84,211.88 and Nifty 50 fell 96 points to close at 25,795.15. Now investors are eyeing those stocks whose Q2 results or corporate actions can decide the direction of the market today.
Also Read This: Online Loan Trap! Your bank account can become empty within minutes, know these 5 things before taking a loan
Companies whose results will come today (Sensex Nifty Today)
The big companies whose Q2 results will be seen today include companies like Indus Towers, Indian Oil, Adani Energy Solutions, Bata India, Mahindra Logistics, JK Tyre, Raymond, SRF, Supreme Industries and Tata Investment Corporation. The results of some of these have already been released, while some are expected by this evening.
Also Read This: Foreign investment hidden in the name of LIC? Global game of 250 million dollars, American firms invested billions in Adani units!
A glimpse of Q2 results of major companies
Kotak Mahindra Bank: The bank’s standalone profit declined by 2.7% to ₹3,253 crore in the September quarter, but net interest income increased by 4.1% to ₹7,310 crore. The bank’s gross NPA was 1.39% and net NPA was 0.32%, which indicates control over asset quality.
Dr. Reddy’s Laboratories: The company’s profit increased by 14.5% to ₹1,437 crore, while revenue increased by 9.8% to ₹8,805 crore. However, investors remain worried due to 13% decline in sales in North America.
SBI Life Insurance: The company’s profit declined by 6.6% to ₹494 crore, but net premium income increased by 22% to ₹24,848 crore. This is being considered a strong sign in the insurance segment.
Coforge: IT company Coforge performed better than expected. The company’s profit increased by 86% to ₹376 crore and the board declared a dividend of ₹4 per share.
Zen Technologies: The defense tech company’s profit declined by 4.6% to ₹59.4 crore, while revenue declined by 28% to ₹173 crore.
Also Read This: Gold became cheaper, silver also became dull, know why the bullion market suddenly slowed down.
These shares will be in focus today (Sensex Nifty Today)
NCC Ltd: The company has received an order worth ₹6,828 crore for a coal mining and transportation project in Jharkhand. This order can strengthen the company’s stock.
GPT Infraprojects: The company has received an order worth ₹195 crore from Ivory Coast. GPT is increasing focus on its global expansion.
Epack Prefab Technologies: The company has received an order worth ₹ 130 crore for the glass factory in Nagpur. This stock will be in discussion in the engineering sector.
Vikran Engineering: The company has received LOA of ₹354 crore for 100 MW solar power project. This is considered a big deal in the green energy sector.
RailTel Corporation: Bihar Education Project Council has canceled the company’s work order worth ₹ 209 crore. There may be pressure on the stock due to this news.
Indian Oil Corporation: The company has got a big relief in the tax dispute, ITAT has given relief of ₹ 1,102 crore out of the tax notice of ₹ 1,194 crore. Now only a case worth ₹91 crore is pending.
Puravankara: The company’s subsidiary has received orders worth ₹211 crore. A positive trend can be seen in the real estate sector.
Dr Lal Path Labs: The company can take a decision on dividend and bonus shares in the board meeting to be held on October 31. The volume in the stock is expected to increase.
Bharat Rasayan: The board has approved a 1:1 stock split, that is, one share of ₹ 10 will now be divided into two shares of ₹ 5 each.
Also Read This: The week started with a bang: Sensex-Nifty broke the silence, know why the market jumped
Bulk Deals and F&O Updates
Thyrocare Technologies: Promoter company Docon Technologies sold 10% stake for ₹667 crore. At the same time, many mutual fund houses bought new stake of 7.9% in this stock.
Midwest: Goldman Sachs has bought 1.2% stake in the company with an investment of ₹50 crore.
F&O Ban: Today new F&O positions cannot be taken on SAIL and Samman Capital.
Market opening strategy (Sensex Nifty Today)
Analysts believe that the support of Nifty 50 will be at 25,700 and resistance at 25,950. Banking, oil and infra sectors can decide the direction of the market today.
Experts recommend that investors keep an eye on these stocks in short term trading: Kotak Bank, SBI Life, RailTel, Indian Oil, Coforge, NCC, GPT Infra and Dr Lal Path Labs.
Today’s market may prove to be decisive for those stocks which have positive news like order book, tax relief or corporate action. On the other hand, stocks like RailTel and Zen Tech may remain under pressure. For investors, the day will be a game of “stock-specific movements”, where the right selection will be the key to real profits.
