Latest Stock Market News

Though correction in some of the mid cap and small cap names have been baffling, the overall correction is a respite for the value investors. Markets world over do have tendency to overshoot. Mean reversion happens sooner or later.

In the Q2FY25 reporting season so far, NSE500 aggregate PAT growth (YoY, %) stands at ~6%, driven by IT (~11%) and BFSI (~10%). Profit growth of NSE500 ex-BFSI and IT has turned negative at -0.6%, dragged by Cement & Building Materials and O&G.

JPMorgan reports that Sun Pharma plans to appeal a judgment and may seek a settlement with Incyte to expedite its product launch. In a worst-case scenario, the launch could occur post-expiry in December 2026. The firm assigns an NPV of $546 million for Leqselvi, projecting 20% CAGR growth for the specialty business driven by existing products.

As the US presidential election remains too close to call, markets appear to be anticipating a Donald Trump victory and a Republican sweep on November 5. Market insiders suggest that a Kamala Harris win would be neutral for the economy, while Trump’s victory could positively impact India through domestic demand, lower commodity prices, supply chain shifts, and foreign policy changes.

Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session

Indian benchmark indices opened lower due to declines in banking, financial, and IT stocks. Key factors include investor caution ahead of the U.S. presidential election and anticipated Federal Reserve interest rate cuts. Major contributors to the drop include Reliance Industries, Infosys, and ICICI Bank.

NBCC (India) shares are likely to be in the spotlight after securing three orders totaling Rs 235.46 crore. This includes projects for Mahatma Gandhi Kashi Vidyapith University, Sampurnanand Sanskrit University, and Power Grid. Despite recent stock declines, NBCC shares have shown significant growth over the past year.

Motilal Oswal Financial Services recommends buying Aditya Birla Capital shares with a target price of Rs 270. The stock currently trades at Rs 203.2. Aditya Birla Capital reported significant income growth and a net profit increase in the latest quarter. The brokerage expects continued growth and healthy returns in the coming years.

Gold December futures fell 0.55% to ₹78,434, while silver dropped 0.85% to ₹94,676/kg amid profit booking and mixed U.S. economic data, with volatility expected this week.