Latest Stock Market News

Benchmark BSE Sensex plunges 1,769 points amid West Asia conflict, hitting a three-week low. Key stocks in focus include Godrej Properties, Angel One, and ITC. Technical analysts suggest Godrej in a no-trade zone, bullish prospects for Angel One, and cautious optimism for ITC.

Six stocks, including Bandhan Bank and RBL Bank, are under F&O trade ban on Friday. This ban occurs when open interest exceeds 95% of the market-wide position limits. The open interest levels for these stocks vary, with some decreasing and others increasing recently. Indian benchmark indices also faced a significant fall on Thursday.

Nexxus Petro Industries will debut on the NSE SME platform with shares trading at Rs 0 GMP in the unlisted market. Engaged in trading and manufacturing bitumen, the company serves the infrastructure sector. It reported Rs 28.83 crore revenue and Rs 3.48 crore profit in FY24.

Refex, which is in the business of ash and coal handling and electric vehicle mobility, also has a presence in refrigerant gases, and power trading.

The weekly index derivatives contracts on Sensex 50 will be discontinued with effect from November 14 end of day while Bankex will be discontinued from November 18.

The finance company is likely to move towards "predictable profitability" by the end of this fiscal year as it shrinks its legacy book, which is expected to decrease the volatility in the earnings number, he said. Consistency in earnings is a factor that most investors have preferred over surprises.

Investors are concerned that, should Israel strike critical Iranian assets, the Islamic Republic will lash out and escalate the conflict, dragging in more countries and potentially disrupting global energy shipments. Israel said it bombed more than a dozen Hezbollah targets in Beirut on Thursday.

M&M Financial is likely to be in focus as the company said it is expecting a 1% year-on-year decline in the overall disbursement in the second quarter.

Small finance banks and microfinance lenders are setting a cap of four live loans per borrower. This is a precautionary step to avoid defaults due to unsecured loan stress. The RBI has already raised concerns about rising delinquency levels and multiple live loans, prompting this move. Utkarsh Small Finance Bank follows this four-loan cap policy.