Sensex Today Ends 33 Points Lower | Nifty Below 25,800 | SmallCap Stocks Shine

Tue, 1 Oct Closing

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After opening the day higher, Indian benchmark indices turned negative as the session progressed and ended the day lower.

The benchmark equity indices, BSE Sensex and NSE Nifty50, ended on a flat note with a negative bias on Tuesday.

At the closing bell, the BSE Sensex stood lower by 33 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 14 points (down 0.1%).

Tech Mahindra, M&M and Infosys among the top gainers today.

Bajaj Auto, ONGC and Asian Paints on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,000 down by 6 points at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.3% higher and BSE SmallCap index ended 0.6% higher.

Sectoral indices were trading positive with socks in auto sector and IT sector witnessing buying. Meanwhile stocks in power and telecom sector witnessed selling pressure.

Tata Communication, EID Parry and Britannia hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.8against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 76,135 per 10 grams.

Meanwhile, silver prices were trading 0.4% higher at Rs 91,066 per 1 kg.

Speaking of the stock market, ever wondered why NTPC, a seemingly boring PSU, has outperformed market favourites like HUL and Nestle?

Rahul Shah, Co-head of Research at Equitymaster talks about the secrets behind its transformation and assess whether it's still a good investment.

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Why Jubilant FoodWorks Share Price is Falling

In news from the consumer products segment, Jubilant FoodWorks announced that it has received a final assessment order from the Income Tax Department dated 27 September, raising a tax demand of Rs 708 m for the financial year 2016-2017. This tax demand is related to certain Transfer Pricing Adjustments.

In response, Jubilant FoodWorks is preparing to appeal the assessment order before the Income Tax Appellate Tribunal (ITAT).

The company believes that the tax demand has been raised without due consideration of its contentions and expects to obtain relief through the appeal process.

Jubilant also reassured its stakeholders that it does not foresee any significant financial implications from this tax demand.

Jubilant is a food service company based in Noida, India. It holds the master franchise for Domino's Pizza in India, Nepal, Sri Lanka, and Bangladesh, for Popeyes in India, Bangladesh, Nepal, and Bhutan, and also for Dunkin' Donuts in India.

Vipul Organics Zooms 13%. Here's Why

Moving on, Vipul Organics shares surged 13% to a fresh lifetime high in trade on 1 October, after its board announced a rights issue.

The issue offers investors one share for every three held as of the record date at Rs 54 per share.

The record date for the rights issue is expected to be announced later, said the company.

This comes at a 79% discount as against the closing price of the previous session of Rs 260.75 per share.

The size of the issue is up to Rs 250 m, and the funds realised through the issue of shares the development of a new facility in Sayakha, Gujarat. The company reported Rs 1.5 m in revenue for FY 2023-24.

The company has undertaken substantial capacity expansion and has decided to do a rights issue to mobilise funds. With a view to reward our shareholders and to include them in the growth of the company, the issue price is at a substantial discount to the current market price.

The dyes and pigment sector is crucial in enhancing packaging materials' aesthetics and With rising paperboard packaging, there is an increasing demand for dyes as well.

The Indian dyes and pigments sector accounts for almost a quarter of the world market, and is projected to grow at a CAGR of 11% between 2024 and 2032.

Crompton Greaves Jumps 5%. Here's Why

Moving on, shares of Crompton Greaves jumped 5% in trade after sharing its strong revenue guidance with international brokerage JP Morgan.

The broking firm held a series of meetings with consumer-facing companies, including consumer discretionary player Crompton Greaves Consumer.

The electrical goods manufacturer's management shared that they were attempting to double their revenue over the next five years. However, in the near term, demand trends remain subdued.

For FY24, the firm reported Rs 63.9 bn from its total revenue from operations. The profit after tax came in at Rs 4.7 bn for the year.

Crompton Greaves is currently focussing on its premiumisation thrust, and ramping up distribution of fans.

Additionally, the firm will aim to expand into three categories over the next five years. Over the long term, the firm's management saw a 12% EBITDA margin.

Penetration challenges remain in certain categories, especially in fans in North and East India.

The lighting business is underdeveloped outside South India. Kitchen appliances have yet to realise their full potential in West and East India.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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