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.
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.
The Indian market is anticipated to open lower on Monday, influenced by subdued global cues. After beginning Samvat 2081 positively during the Diwali mahurat trading session on Friday, market sentiment appears to be shifting.
In the Nifty200 pack, four stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on November 1, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Shares of Coal India, Dr. Lal Path Labs, and two other companies will trade ex-dividend from Tuesday. These companies announced November 5 as the record date for their declared dividends. Coal India set an interim dividend of Rs 15.75 per share while Dr. Lal Path Labs announced an interim dividend of Rs 6 per share.
Shares of Premier Polyfilm and Systematix Corporate Services will be focused today due to announced stock splits. Both companies set November 5 as the record date. Premier Polyfilm will split shares from Rs 5 to Re 1, while Systematix Corporate Services will do the same. This is the first stock split for both companies, as per Trendlyne data.
Key companies, including IRFC, IRCTC, and Raymond, are set to announce their quarterly earnings today. Amara Raja Energy is anticipated to report a 17% YoY growth in net profit and a 10% YoY increase in revenue, driven by solid performance in the aftermarket division and new energy business.
The strengthening of the dollar globally and the record outflow of it from the Indian equities have forced the rupee to be above 84 level for quite some time. Last Thursday, it touched a new low of 84.10 against the dollar.
The market's uncanny ability to overlook the uncertain political outlook in the United States may reflect an assumption that national elections don't really matter for the stock market - a supposition borne out by stock returns over more than a century.
FPIs parked net $2.36 billion (19,841.9 crore) in the primary market, the highest monthly investment since November 2021 when they had invested $3.74 billion through this route, which consists of participation in initial public offerings (IPOs) and qualified institutional placements (QIP).
