The Week That Was – A Recap by Riddhi Siddhi Share Brokers
Riddhi Siddhi Share Brokers: November 4th to November 8th, 2024
Riddhi Siddhi Share Brokers on a Surprising Week for Dalal Street
The week ended with unexpected steadiness on Dalal Street as markets closed close to where they began. Despite a significant event—Donald Trump’s return to the White House—the Nifty showed only minor fluctuations.
Riddhi Siddhi Share Brokers Analyzes Global Market Movements and Nifty’s Reaction
While U.S. markets celebrated Trump’s victory with record highs on the Dow, Nasdaq, and S&P 500, the Nifty remained cautious, influenced by domestic and international factors.
- Nifty: -0.64% at 24,148
- Sensex: -0.30% at 79,486
Riddhi Siddhi Share Brokers Highlights Key Market Trends
- Trump’s U.S. Victory Boosts Wall Street: Optimism around fiscal stimulus and tax cuts in Trump’s new term led to record highs in U.S. indices.
- Fed Chair Powell’s Dovish Outlook: A rate cut aimed at inflation control added strength to the economy.
- Cautious Sentiment in India: Concerns over Q2 corporate earnings and high FII outflows created a conservative outlook among investors.
Weekly Recap and Sector Performance by Riddhi Siddhi Share Brokers
| Index | LTP | Weekly % Change |
|---|---|---|
| Nifty | 24,148 | -0.64% |
| Sensex | 79,486 | -0.30% |
| Bank Nifty | 51,561 | -0.22% |
| Nifty Midcap | 15,657 | +0.05% |
| India VIX | 14.47 | -9.01% |
Bullish Sectors:
- Nifty IT: +4%
- Nifty Auto Index: Unchanged
Bearish Sectors:
- Nifty Realty: -4.11%
- Nifty Media: -3.28%
- Nifty Energy: -3.11%
- Nifty Oil & Gas Index: -1.87%
- Nifty FMCG: -1.81%
- Nifty Infra Index: -1.80%
- Nifty PSE Index: -1.10%
- Nifty Pharma: -1.10%
- Nifty Metal: -0.87%
Riddhi Siddhi Share Brokers’ Stock-Specific News
- M&M: Gained 5.58% as Q2 net profit rose 13.2% to ₹3,841 crore, driven by record volumes in the automobile segment.
- NMDC: Rose 5.89%, backed by increased iron ore prices and optimism over potential Chinese stimulus.
- Swiggy IPO: The IPO saw high demand, with a 3.59x subscription rate, setting Swiggy’s valuation at approximately ₹95,000 crore.
- Apollo Hospitals: Reached an all-time high at ₹7,545 with a 63% PAT increase in Q2.
- Tata Steel: Dropped 1.45%, despite a return to profit, with Q2 net profit of ₹833.45 crore compared to a loss in the previous year.
- Jindal Steel and Power: Reported a 38% profit slump in Q2 due to lower steel prices and sales volumes.
- SBI: Posted a 28% YoY profit increase to ₹18,331 crore in Q2, though the stock fell by 2% post-announcement.
Riddhi Siddhi Share Brokers’ Weekly Gainers and Losers in the Nifty 50
Top Gainers:
- M&M: +5.58%
- Apollo Hospitals: +5.54%
- Tech Mahindra: +4.85%
- HCL Tech: +4.56%
- TCS: +4.09%
Top Losers:
- Trent: -11.89%
- Coal India: -6.63%
- Hindalco: -5.85%
- Asian Paints: -5.80%
- Grasim: -5.71%
Disclaimer by Riddhi Siddhi Share Brokers: Investment ideas presented are for informational purposes only and may not be suitable for all investors. Market investments involve risks; please consult a financial advisor before making decisions. Riddhi Siddhi Share Brokers, registered with SEBI and certified by NISM, provides no performance guarantees, and investors are advised to make informed decisions aligned with their financial objectives.