Latest After the Bell – Market Update by Riddhi Siddhi Share Brokers @ 4:00 PM – Friday, October 25, 2024
Bears Still Dominate Dalal Street: A Detailed Analysis by Riddhi Siddhi Share Brokers
Market Overview
Riddhi Siddhi Share Brokers brings you today’s in-depth stock market update. The Nifty and Sensex ended another session in the red, with bears maintaining their grip on Dalal Street amid high volatility and investor uncertainty. As traders await clarity around upcoming U.S. elections, market participants continue to feel the impact of disappointing Q2 earnings and heavy foreign institutional investor (FII) outflows.
Key Indices Performance
- NIFTY closed at 24,181 (-219 points)
- Sensex ended at 79,402 (-663 points)
- Bank Nifty finished at 50,757 (-744 points)
Today’s Market Sentiment and Analysis
Despite initial morning gains, a sharp pullback drove the indices lower by the close. Here’s what fueled the downturn:
- Q2 Earnings Weakness: India Inc.’s Q2 earnings have left investors underwhelmed, raising concerns about sustained earnings growth.
- Intense FII Outflows: FIIs have pulled out over ₹97,205 crore this month, a significant factor weighing down the indices.
- Spiking Volatility: India VIX, a critical gauge of market fear, surged by 6.51%, ending at 14.51—reflecting heightened apprehension among investors.
Buzzing Stocks by Riddhi Siddhi Share Brokers
Top Gainers Today:
- ITC (+2.24%)
- AXISBANK (+1.85%)
- BEL (+1.55%)
- BRITANNIA (+1.24%)
- HINDUNILVR (+1.01%)
Top Losers Today:
- INDUSINDBNK (-18.99%)
- ADANIENT (-4.90%)
- BPCL (-4.82%)
- SHRIRAMFIN (-3.92%)
- COALINDIA (-3.62%)
Additional Key Metrics:
- Adv-Dec Ratio: 12-38
- India VIX: 14.63 (+4.72%)
- Nifty PCR (Put-Call Ratio) – Oct 31 Expiry: 0.75
- MidCap 50: -1.51%, closed at 15,420
- SmallCap Index: -2.03%, ended at 17,878
- Bank Nifty: -1.44%, closed at 50,787
- Nifty IT: -0.24%, closed at 42,039
- USD/INR Exchange Rate: 84.09
Riddhi Siddhi Share Brokers’ View for Monday’s Trade:
Looking ahead, Riddhi Siddhi Share Brokers anticipates potential volatility as high valuations and tepid earnings continue to pressure the market. Despite long-term growth prospects for Corporate India, current market valuations are under scrutiny, making the outlook for several momentum stocks challenging.
Technically, Nifty shows signs of continued bearish momentum. Major support for Nifty is positioned at 23,900, while a breach above the 24,500 mark could indicate a shift in short-term sentiment.
All About Nifty – Riddhi Siddhi Share Brokers’ Analysis
Nifty (CMP: 24,181)
- Support: 23,851 / 23,675
- Resistance: 24,350 / 24,551
- Range: 23,999 – 24,275
- 21 DMA: 25,050
- 50 DMA: 25,128
- 200 DMA: 23,380
- Trend: Negative
Riddhi Siddhi Share Brokers’ Stock Insights
Bullish Stocks:
- HCLTECH
- LUPIN
- PIIND
Long-Term Bullish Stocks:
- POLYPLEX
- CANFINHOMES
- WIPRO
Bearish Stocks:
- INDUSINDBNK
- JINDALSTEL
- SBICARD
Stocks to Avoid:
- HINDCOPPER
- GNFC
- TATACHEM
Disclaimer by Riddhi Siddhi Share Brokers
This information is purely educational and should not be considered investment advice. All stock market investments are subject to risk. Riddhi Siddhi Share Brokers holds no liability for actions based on this information. Past performance is not indicative of future results.