Welcome to our live blog covering the latest updates from the Indian stock market on October 15, 2024. Today, the market opened with optimism following gains in IT stocks and a decline in global crude prices, positively impacting oil refining and paint sectors. However, as the day progresses, we are witnessing fluctuations in key indices such as the Sensex and Nifty. Stay tuned for real-time updates on market movements, corporate earnings, and sector performances.
11:05 AM IST – Market Update: Sensex Down 100 Points
The Sensex is currently down by 100 points, with the Nifty trading below 25,100. M&M has dipped by 2%, reflecting a broader trend of profit booking as investors reassess their positions after recent gains. Siddhartha Khemka from Motilal Oswal indicates that while the market initially showed promise, caution is warranted.
10:59 AM IST – HPCL Shares Surge
Hindustan Petroleum Corporation Ltd. has seen its shares rise over 3% in early trading, now priced at ₹419.50. This uptick is attributed to favorable market conditions and strong investor sentiment.
10:55 AM IST – Gold and Silver Prices Update
Gold December futures opened flat at ₹75,980 per 10 grams, down by 0.09%. Silver is trading at ₹90,715 per kilogram, reflecting a slight decline of 0.02%. Both precious metals have shown resilience amid recent market fluctuations.
10:51 AM IST – Cyient’s Strategic Collaboration
Cyient Ltd. has signed a Memorandum of Understanding (MoU) with Business Finland to advance technology innovation. The stock is currently trading at ₹1,870.00, up by 1.23%.
10:45 AM IST – Hyundai IPO Valuation Insights
The much-anticipated ₹27,870 crore IPO of Hyundai Motor India has opened for subscription today and will remain available until October 17. Analysts are comparing its valuation against competitors like Maruti Suzuki and Tata Motors.
10:40 AM IST – HCL Technologies Performance
HCL Technologies shares have jumped by 1% following a reported 10.5% year-on-year profit increase for Q2. The stock is currently trading at ₹1,853.80.
10:37 AM IST – Market Losers Update
M&M and Bajaj Finance are among the top losers in the Sensex pack today as profit-taking sets in after recent gains.
10:31 AM IST – UBS Coverage on Ramkrishna Forgings
UBS has initiated coverage on Ramkrishna Forgings with a ‘Buy’ rating and a target price of ₹1,500, suggesting a potential upside of 46%.
10:25 AM IST – Lyka Labs Gains Approval
Lyka Labs shares have surged by 7% following approval from CDSCO for a new diabetic neuropathy pain drug.
10:20 AM IST – Va Tech Wabag Secures Major Order
Va Tech Wabag’s shares climbed by 4% after securing a ₹1,000 crore order to build a desalination plant.
10:14 AM IST – Garuda Construction Listing Success
Garuda Construction debuted on the stock exchanges with a 10% premium over its IPO price, indicating strong market interest.
10:10 AM IST – Motilal Oswal Financial Services Surge
Motilal Oswal shares have jumped nearly 7%, reflecting positive investor sentiment following strong financial results.
10:07 AM IST – Top Losers This Hour
AB Cotspin India Ltd., Future Lifestyle Fashions Ltd., and Shree Karni Fabcom Ltd. are among the top losers today, indicating sector-specific challenges.
10:04 AM IST – Sensex Slips Further
The Sensex has slipped further into negative territory after initial gains were erased due to profit booking across various sectors.Stay tuned for more updates as the trading day progresses!
