KNOW MORE ABOUT INDIAN STOCK MARKET UPDATES AND INDIAN INDEX POST MARKET UPDATES ON [NOVEMBER 6th 2024]

 

INDIAN STOCK MARKET UPDATES

US Election Result: Donald Trump officially elected President of the United States of America. 

President Trump could encourage U.S. companies to shift their supply chains from China to India.

Which is positive for Indian Market.

Gas and Fuel Stocks:

VERY POSITIVE READ THROUGH FOR IGL/MGL. CNG vehicle registrations in the month of Oct’24 witnessed very strong Growth Pan-India numbers have increased by 69% m/m & 45% y/y Citi Says Sales in the geographic areas of IGL / MGL have grown 40% / 60% on a m/m basis and 55% / 47% on a y/y basis Based on FY25TD conversions, IGL’s & MGL’s CNG vehicle base (ex-2Ws) is set to grow by ~9-10% in FY25E, which augurs well for their volume growth outlook.

Electronic Stocks:

Indian electronics stocks, including Dixon Technologies, Kaynes Technology, Syrma SGS, and PG Electroplast, are seeing gains amid market optimism that a potential return of former President Trump could encourage U.S. companies to shift their supply chains from China to India. This expectation is driving investor confidence, as India's electronics manufacturing sector could benefit from increased U.S. investment and collaboration.

Alcohol stocks:

Indian alcohol stocks are moving up due to various supportive market trends and strong quarterly earnings from some major companies in the sector. The increased demand for premium products, festival season boosts, and expectations of rising consumption patterns are also contributing factors. Investors are optimistic about sustained growth driven by expanding product lines and favorable regulatory support, making this sector attractive for growth-focused portfolios​.

Indian Index Post Market Highlights:

·       Nifty: Gains over 1%, with BEL and Adani Enterprises leading.

·        Nifty Midcap & Nifty Smallcap: Both indices hit a 2-week high.

·        Nifty Smallcap: Surpasses 100-DMA.

·        Nifty IT: Records biggest single-session gain in over 3 months, becoming the top sectoral gainer. All constituents in the Nifty IT index closed in green, led by Persistent and L&T Tech.

·        Nifty FMCG: Snaps a 2-session losing streak, with Marico and Varun Beverages as top gainers.

·        Nifty PSU Bank: Hits a 2-month high, led by Bank of India and Union Bank.

·        Nifty Pharma & Nifty Auto: Both indices advance for the 2nd session, reaching a 1-week high.

·        Nifty Metal: Surpasses both 50- and 100-DMA to hit a 2-week high.

·        Nifty Realty: Advances for the 2nd session, up over 2%.

·        Nifty Energy: Closes above the 39,000 marks.

·        Nifty Bank: Hits a 2-week high on weekly options expiry, with Punjab National Bank and Bank of Baroda leading

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