Latest Stock Market News

The Nifty Pharma index was trading 0.3 per cent up at 23248.3.

Mahindra & Mahindra Financial Services expects a 1% year-on-year decline in overall disbursement to approximately Rs 13,160 crore for Q2FY25. Their H1FY25 disbursement is projected to grow by 2% YoY to Rs 25,900 crore. The company reported strong liquidity and projected growth in business assets, despite recent share performance being below Nifty.

Jupiter Wagons declares an interim dividend of Re 1 per share, with October 7 set as the record date. Payment will be made by October 17. Over the last year, the stock has nearly tripled, providing multibagger returns of 180% YTD and 102% over the past six months.

Sandip Sabharwal advises caution in investing amidst market corrections, suggesting potential buys in largecaps like Reliance if it drops 5-7%. He highlights concerns over economic data and urges waiting for a larger market dip. He also sees opportunities in mid and smallcaps, particularly in infra stocks like Ahluwalia Contracts and NCC.

Bajaj Finance shares will be watched closely on Friday due to a business update for Q2FY25. The company reported a 14% rise in new loans, a 29% increase in AUM, and a 21% growth in deposits. Net liquidity surplus stood at Rs 20,100 crore. The stock showed modest year-to-date gains.

he manager of the top-performing $23 billion GQG Partners Emerging Markets Equity Fund has kept his holdings in Chinese stocks at about 12% of the fund — roughly half of the weighting of its benchmark

Shares of Punjab National Bank will be in focus today after the bank posted an 11% YoY growth in domestic business to Rs 24.30 lakh crore for Q2 FY24. Domestic deposits rose 11% to Rs 14.17 lakh crore, while domestic advances increased 12% to Rs 10.12 lakh crore.

Bajaj Housing Finance focuses on its debut business update, reporting AUM of Rs 1,02,550 crore, up 26% YoY. Loan assets rose to Rs 89,860 crore. The stock debuted with a 135% gain. Bajaj Finance also reported 92.09 million customers and a 14% increase in new loans, while its deposits grew by 21%.

Earlier, the food and delivery platform had planned a fresh issue of Rs 3,500 crore and OFS of 185.3 million shares.

Immediate support is seen at 25,000, followed by 24,750, while 25,500 is expected to act as the immediate resistance. Traders should closely monitor these key levels, as a break below support could trigger further downside, while resistance at 25,500 may cap any short-term recovery attempts, said Hardik Matalia of Choice Broking.