Indian Equity Market Overview

Indian stock markets began the week on a positive note, supported by robust buying across financials and private banks. The Sensex gained 0.59% to close at 77,073.44, while the Nifty 50 rose 0.61% to end at 23,344.75. Broader indices also contributed to the rally, with the Nifty Midcap 150 rising 0.77% and the Nifty Smallcap 250 up by 0.84%.

Market sentiment was mixed as the India VIX surged 4.23% to 16.42, indicating heightened volatility despite the gains.

Sectoral Performance

• Top Gaining Sectors:

• Nifty Private Bank: +2.38%

• Nifty PSU Bank: +1.99%

• Lagging Sectors:

• Nifty Auto: -0.52%

• Nifty FMCG: -0.11%

Stock Highlights

• Top Gainers (Nifty 50):

• Kotak Mahindra Bank: +9.06%, closing at ₹1,918

• Wipro: +6.58%, closing at ₹300.50

• Bajaj Finance: +3.42%, closing at ₹7,427.50

• Top Losers (Nifty 50):

• SBI Life: -2.82%, closing at ₹1,497

• Trent: -2.20%, closing at ₹6,079.95

• Shriram Finance: -1.98%, closing at ₹516.10

Block Deals:

• Key block deals were reported in Axis Bank, Go Digit, and HLV stocks, reflecting notable institutional activity.

Key Market Developments

• Nazara Technologies announced a plan to raise ₹495 crore through a preferential issue while acquiring gaming IPs from Zeptolab for $7.7 million.

• Waaree Renewable secured an LOI for a ₹277.2 crore solar project, targeting completion by FY26.

• Bajaj Finance partnered with Airtel to provide its financial products to Airtel’s 370M customers.

• Saregama India raised its stake in Pocket Aces to 53.51% with a ₹15 crore investment in a rights issue.

• IOB received an upgraded bond rating of IND AA/Stable from India Ratings.

• Netweb Technologies reported a 16.56% increase in Q3 profit, driven by strong AI-related demand.

Global Cues & Economic Calendar

Global markets exhibited mixed trends:

• US Dow Jones: Reached a two-month high last week.

• Oil Prices: Hit a four-month high, potentially impacting inflation outlooks globally.

• Global Economic Calendar:

• US and EU PMI Data: To influence sentiment mid-week.

• China’s Rate Decision: Expected to shape metal stock performance.

• Bank of Japan Policy Update: A key event to watch for currency markets.

Sector Watch:

• PSU Banks: Anticipated benefits from potential RBI rate cuts.

• Railways: Budget allocation may boost stock performance.

• Metals: Positive outlook driven by robust Chinese GDP growth and IIP data.

• Telecom: AGR dues waiver proposal offers relief to cash-strapped players.

For a detailed outlook, including strategic insights for the week, watch our YouTube video. Stay informed, stay ahead.