It’s Friday and stock market India has never been so volatile. The winds of high volatility have graced the market and have created an amazing set of events that traders have to know at any cost.
it’s the end of the week and this is something that will create waves for the market in the upcoming session.
So the question on everyone’s mind is where’s this storm taking the Indian Indices to and is it going to take it to the top or sustain the same momentum?
So without further adieu, let’s begin!!
Nifty experiences strong buying pressure amid a slightly volatile market. Where’s stock market India headed to?
Nifty FUT – Sell Around – 19650 | Stop Loss – 19750 | Target – 19850 |
During the previous session, Nifty had opened the gap down and tested the level of 19512, but faced rejection from the downside.
It has experienced buying pressure resulting in a slightly volatile market. This has led to the formation of a strong bullish candle.
Traders can expect sideways to downward movements in the upcoming sessions.
Bank Nifty experiences selling pressure amid slight volatility. What’s next for the stock market India?
Bank Nifty Fut – Sell Around – 43900 | Stop Loss – 44200 | Target – 43600 |
During the previous session, Bank Nifty opened the gap down and tested the level of 44058, but faced rejection from the upside.
Then it experienced selling pressure, resulting in a slightly volatile market.
This has led to the formation of an inverted hammer candlestick pattern. Traders can expect sideways to downward moves incoming.
Results of the Day in Stock Market India:
Hindustan Unilever:
The FMCG major Hindustan Unilever has recorded a 3.9 per cent on-year growth in standalone profit at INR 2717 crore for the quarter ending September FY24, beating out analysts’ estimate with better than expected operating margin performance and lower input costs.
Standalone revenue from operations grew by 3.6 per cent year-on-year to Rs 15,276 crore for the quarter, with the home care segment growing by 3.3 per cent, food and refreshment by 2.6 per cent, and beauty and personal care by 4.5 per cent.
ITC:
The cigarette-to-FMCG-to-hotels major has recorded a standalone profit at Rs 4,927 crore for the quarter that ended September FY24, rising 10.3 per cent over a year-ago period driven by higher other income. Revenue from operations, excluding excise duty, increased 2.6 per cent year-on-year to Rs 16,550 crore for the quarter, with subdued growth in the agribusiness and paperboards and packaging segments.
Jindal Stainless:
The stainless steel producers have recorded a 74 per cent y/y growth in standalone profit at INR 609 crore for the quarter ending September FY24, with revenue growing 14 per cent to INR 9720 crore.
Havells India:
The electrical equipment company has registered 33 per cent y/y growth in profit at INR 249 crore for the quarter ending September FY24, driven by healthy operating numbers.
Revenue from operations for the quarter increased by 6 per cent to Rs 3,891 crore during the same period, led by switchgear and cable segments.
United Breweries:
Famously known for the Kingfisher beer maker has reported a standalone profit of INR 107.62 crore for the quarter ending September FY24, falling 19.8 per cent compared to the corresponding period last fiscal year, missing out on analysts’ expectation and impacted by a lower EBITDA margin.
However, standalone revenue from operations (excluding excise duty) grew by 12.4 per cent YoY to Rs 1,888 crore for the quarter.
Stock Market India | Trending Equity News:
it’s time to take a look at the trending news floating around in Stock market India. So let’s begin!!
Bharti Airtel Ltd:
Bharti Airtel is likely to collaborate with US-based communication software and service provider Amdocs. Amdocs will create a digital platform to automate and digitise Airtel’s business operations.
Tata Steel Ltd:
Tata Steel will acquire a 26% stake in Tata Power Renewable Energy’s wholly owned subsidiary TP Vardhaman Surya Ltd for INR 1,30,00.
Rallis India Ltd:
The company had announced the rollout of a mobile application, ‘See Sure’, for monitoring and managing its Hybrid Seed Production (HSP) program.
Tejas Networks Ltd and Tata Consultancy Service Ltd:
Tejas Network bags an order of INR 108 crore from TCS for the supply of equipment for BSNL’s pan India 4G/5G network.
That’s all for today folks!!
We’ll be back with more news soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease
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