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Home CURRENT AFFAIRS BUSINESS Stock Market Update: Bloodbath at D-Street! Nifty down by 264 pts, Sensex...

Stock Market Update: Bloodbath at D-Street! Nifty down by 264 pts, Sensex by 900 pts; Maruti Suzuki Q2 Net profit may rise 42 percent

The Sensex fell 900.91 points to 63,148.15, while the Nifty fell 264.90 points to 18,857.30.

Stock Market update

Stock Market update: The Nifty is down 264.90 points at 18,857.30, while the Sensex is down 900.91 points at 63,148.15. A total of 1211 shares increased, 1943 fell, and 101 were unchanged. M&M, Bajaj Finance, Asian Paints, UPL and Bajaj Finserv are among the Nifty’s worst losers, while Axis Bank, HCL Technologies, Adani Ports, and IndusInd Bank are among its biggest winners. BSE Smallcap index down 0.3 percent and BSE Midcap index down 1%. All other sectors indices are trading lower than power.

Stock Market update: Maruti Suzuki Q2 Net profit may rise 42%

The biggest OEM in India, Maruti Suzuki, is anticipated to post a 42% gain in net profit for the quarter that concluded in September due to favourable product mix, company-implemented price increases, and declining commodity prices. On October 27, the business is scheduled to release its financial results. Based on the mean projections of five brokerage houses, Maruti is expected to report a net profit of Rs 2,921 crore for the second quarter, compared with Rs 2,061 crore for the same time in the previous year.

Investors reacted favourably to Paragon Fine and Speciality Chemical

Despite the market collapse, investors responded well to Paragon Fine and Speciality Chemical’s initial public offering (IPO), which opened for subscription on October 26. The initial public offering (IPO) received bids for 2.05 crore equity shares, 5.57 times the issue size of 36.96 lakh. The retail buyers purchased 9.09 times the number of shares they were allocated, while the high net worth individual fraction was purchased 5.02 times. There were 1.3 purchases made of the shares reserved for eligible institutional investors.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

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