Latest Stock Market News

The Nifty Bank index closed 0.89 per cent at 51215.25.

Ongoing selling by foreign investors added further pressure to the equity market sentiment.

Renewable energy firm ACME Solar Holdings Ltd on Monday said it has fixed a price band of Rs 275 to Rs 289 per share for its Rs 2,900 crore initial public offering (IPO). The issue would open on November 6 and conclude on November 8.

Investors are looking to balance risk and reward in their portfolios, as greed and fear drive investment decisions. Assessing risk tolerance and understanding the potential for variability in returns is crucial for long-term financial success. While current market conditions may tempt investors to chase returns, maintaining a disciplined approach aligned with their risk profile is essential.

Indian Railway Finance Corporation (IRFC) reported a 4% YoY jump in net profit to Rs 1,612.65 crore in Q2FY25. Revenue from operations increased by 2% to Rs 6,899.34 crore. The company declared an interim dividend of Rs 0.80 per share.

For the July-September 2024 period, net profit is expected to decline by 3% year-on-year, based on the average estimate from four brokerages. Sales, however, are projected to increase by 13% year-on-year, according to the estimates.

With two major events approaching — the US election and the Fed meeting — traders adopted a risk-off approach on Monday, causing the Sensex to drop nearly 1,500 points. Nifty also fell about 2% to 23,800, marking its lowest level since August 6.

An ETMarkets analysis reveals an interesting trend: Mutual Funds (MFs) have been steadily increasing their investments in 152 smallcap stocks over the past four quarters, from December 2023 to September 2024.

Long unwinding occurs when investors sell their long-term positions to book profits or anticipate a market downturn. On Monday, five stocks experienced significant long unwinding.

Net profit for the July-September 2024 quarter is expected to decline by up to 27% year-on-year, based on the average estimate from four brokerages. In contrast, net sales are projected to increase by 3% year-on-year during the same period, according to the estimates.