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From the Sensex pack, Axis Bank and SBI were the top laggards, declining 4.7% and 2.9%, respectively. IndusInd Bank, NTPC, UltraTech Cement, and Bajaj Finserv also ended lower. On the other hand, Nestle, HUL, HDFC Bank, TCS, and Infosys closed higher

A survey conducted by Axis Mutual Fund reveals that 78% of mutual fund investors do not understand market risks, despite the disclaimer stating the same. The survey also found that the majority of investors are not aware of the risk assessment tools available to them. However, close to 90% of investors recognized the importance of personal risk appetite in investment decisions. The survey highlights the need for investors to have a better understanding of risk and utilize the available tools for informed decision-making.

ETMarkets highlights 4 such stocks that may face headwinds despite their overbought status. Understand why RSI matters in stock analysis.

The initial public offer (IPO) of Plaza Wires was subscribed a strong 43.22 times so far on the third day of the bidding process on Wednesday. This was led by massive subscription from retail investors at 175.69 times.

In the passenger vehicle segment, Maruti Suzuki India reported a 3% year-on-year (YoY) rise in wholesale sales, while Tata Motors reported a 5% decline, largely to enable a smooth transition to new generation models like Nexon and Nexon EV.

The stock market witnessed a notable upswing on October 3 as several midcap stocks showcased their strength by crossing their 100-day Simple Moving Averages (SMA).

The strength of wage growth, asset price inflation, and the lingering impact of the post-Covid dole-outs have kept household demand above potential, thereby sustaining the high inflation. Additionally, the federal government fiscal expansion, rising 61% YoY to $1.52 trillion (Oct’22-Aug’23, projected at $1.9 trillion in FY24), is creating another round of demand impulses.

Brokerage firm InCred Equities is positive on several small and midcap stocks.