LATEST AFTER THE BELL @ 4:00 PM – WEDNESDAY, OCTOBER 30TH, 2024: MARKET UPDATE BY RIDDHI SIDDHI SHARE BROKERS
In the midst of wild swings and volatility, today turned out to be an unpleasant session for Nifty bulls.
- NIFTY (-126, 24341)
- Sensex (-427, 79942)
- Bank Nifty (-513, 51808)
Investor sentiment was dampened primarily due to Foreign Institutional Investors (FIIs) pulling out a substantial ₹104,019 crore from Indian equities this month.
KEY STOCK-SPECIFIC NEWS BY RIDDHI SIDDHI SHARE BROKERS:
Marico surged 3.43%, outperforming expectations with its Q2FY25 results. The company’s profit grew by 20.3% Y-o-Y to ₹433 crore, compared to ₹360 crore in Q2FY24. Additionally, Marico’s revenue from operations rose by 7.6% to ₹2,664 crore in Q2FY25 from ₹2,476 crore in the same quarter last year.
🔥 BUZZING STOCKS FOR THE DAY BY RIDDHI SIDDHI SHARE BROKERS:
TOP INDEX GAINERS:
- ADANIENT (+3.74%)
- HEROMOTOCORP (+3.18%)
- TATACONSUM (+3.04%)
- BRITANNIA (+2.25%)
- MARUTI (+1.98%)
TOP INDEX LOSERS:
- CIPLA (-4.03%)
- SHRIRAMFIN (-2.35%)
- HDFCLIFE (-2.34%)
- TRENT (-2.27%)
- INFY (-2.20%)
MARKET SENTIMENT BY RIDDHI SIDDHI SHARE BROKERS:
- Advance-Decline Ratio: 19—31
- India VIX: 15.51 (+6.82%)
- NIFTY PCR (31st Oct): 0.80
SECTOR HIGHLIGHTS:
- Nifty MidCap 50 (-0.20%, 15646)
- Nifty SmallCap 100 (+1.06%, 18391)
- Bank Nifty (-0.94%, 51829)
- Nifty IT (-0.87%, 41668)
- USD/INR (+0.03%, 84.17)
🔍 VIEW FOR THURSDAY’S TRADE BY RIDDHI SIDDHI SHARE BROKERS:
Expect more volatility this week as we approach key events:
- October F&O Expiry (Thursday, October 31st)
- US NFP data (Friday, November 1st)
- US Elections ramping up as voters prepare for the polls on November 5th
- Continued FIIs selling pressure (₹104,019 crore withdrawn in October).
While today’s negative close leaves Nifty under pressure, technical indicators suggest that strength will only confirm if Nifty surpasses the 24,637 mark. Key support levels are at 24,213, with the 200 DMA at 23,422 acting as a crucial technical floor.
ALL ABOUT NIFTY BY RIDDHI SIDDHI SHARE BROKERS:
- Nifty (CMP: 24341)
- Support Levels: 24199/24000
- Resistance Levels: 24551/24701
- Range: 24233–24522
- 21 DMA: 24809
- 50 DMA: 25115
- 200 DMA: 23422
- Trend: Neutral
📈 BULLISH LOOKING STOCKS (SHORT-TERM) BY RIDDHI SIDDHI SHARE BROKERS:
- MARICO
- L&T
- ADANIENT
💹 BULLISH LOOKING STOCKS (LONG-TERM) BY RIDDHI SIDDHI SHARE BROKERS:
- POLYPLEX
- TEJAS NETWORKS
- WIPRO
📉 BEARISH LOOKING STOCKS BY RIDDHI SIDDHI SHARE BROKERS:
- VOLTAS
- M&M
- SHRIRAMFIN
⚠️ STOCKS TO AVOID BY RIDDHI SIDDHI SHARE BROKERS:
- OBEROIRLTY
- CIPLA
- SUNPHARMA
Disclaimer: Investments & trading ideas mentioned here are not suitable for all investors. Please consult a registered financial advisor before making any trading or investment decisions. This article is for educational purposes only, and RIDDHI SIDDHI SHARE BROKERS holds no responsibility for any financial decisions made based on this analysis.
For more updates, follow RIDDHI SIDDHI SHARE BROKERS and stay ahead in your trading game! 🌐 Visit us at www.riddhisiddhisharebrokers.com