Sensex Today Tanks 650 Points | Nifty Below 24,100 | Sun Pharma & Bajaj Auto Top Losers

Mon, 4 Nov 10:30 am

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Asian markets traded higher following gains on Wall Street last week ahead of the US Presidential Elections and US Fed rate decision.

Japan's markets were closed for a holiday. South Korea's Kospi gained 0.9%, while the Kosdaq rallied 2.2%.

US stock market ended higher on Friday as Amazon's strong earnings countered a significant drop in US job growth in October.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	172.65	-0.04	-0.02%	173.82	170.31	193.30	128.11
Apple	222.91	-3.00	-1.33%	225.35	220.27	237.49	164.08
Meta	567.16	-0.42	-0.07%	573.67	562.56	602.95	308.33
Tesla	248.98	-0.87	-0.35%	254.00	246.63	273.54	138.80
Netflix	756.10	0.07	0.01%	763.80	747.77	773.00	417.10
Amazon	197.93	11.53	6.19%	200.50	197.02	201.20	136.47
Microsoft	410.37	4.02	0.99%	415.50	407.50	468.35	344.77
Dow Jones	42052.19	288.73	0.69%	42326.31	41869.82	43325.09	33450.03
Nasdaq	20033.14	142.73	0.72%	20162.54	19950.99	20690.97	14792.81

Source: Equitymaster

At present, the BSE Sensex is trading 686 points lower and NSE Nifty is trading 233 points lower.

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

Coal India, Bajaj Auto and Sun Pharma the other hand are among the top losers today.

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.

Broader markets are trading negative. The BSE Midcap index is trading 1% lower and the BSE Smallcap index are trading 1.3% lower.

Sectoral indices are trading negative today with in oil & gas sector and energy sector witnessing most witnessing selling pressure

The rupee is trading at Rs 84.07 against the US dollar.

In commodity markets, gold prices are trading 0.6% lower at Rs 78,430 per 10 grams 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...

Speaking of the stock market, Is high ROE always the best bet?

Uncover the truth about ROE in the latest video by Rahul Shah, Co-head of research at Equitymaster.

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Zen Technologies Q2 Results

Zen Technologies, a key player in aerospace and defence, has released its Q2 financial results. The company announced its earnings on Saturday.

Profit surged from Rs 153 m last year to Rs 626 m this year, marking a 309% increase. Revenue rose from Rs 665 m to Rs 2,418 m, representing a 263% growth.

EBITDA jumped from Rs 190 m to Rs 80 m, while the profit margin improved to 33.1%, compared to 28.4% last year.

Based in Hyderabad, Zen Technologies specialises in anti-drone technology and defence training.

As of 30 September 2024, it reported an order book of Rs 9.6 bn and raised Rs 1 bn through a Qualified Institutional Placement (QIP) during the quarter.

The company's stock has delivered over 160% returns in the past year, climbing from below Rs 720 to over Rs 1,875.

Last month, Zen Technologies said it had secured an annual maintenance order from the defence ministry.

In a stock exchange filing, the company said it has signed an annual maintenance contract (AMC) worth Rs 460 m, including GST, with the Ministry of Defence.

The contract covered the maintenance of simulators developed by Zen for a five-year period, the company informed the bourses.

Sun Pharma's Leqselvi Launch Blocked

Sun Pharmaceuticals announced on Saturday that the US District Court of New Jersey has granted a preliminary injunction preventing it from launching its new drug, Leqselvi, until further legal developments or the expiry of the patent at the center of the lawsuit.

This legal action, filed by Sun Pharma on August 1, sought to challenge the injunction, but the court decided on Friday to uphold the delay, effectively halting the drug's release in the US market.

This ruling requires the company to defer any Leqselvi launch until a favourable court outcome or the patent's expiration, whichever occurs first.

Sun Pharma's R&D investments for Q2 FY25 amounted to Rs 7.9 bn, accounting for 6% of sales.

This spending level is consistent with the company's focus on innovation, despite the recent injunction setback in the US.

Premier Energies Multiple Order Win

Shares of Premier Energies are expected to remain in focus on Monday after the company announced that it had secured multiple orders worth Rs 5.6 bn from two domestic Independent Power Producers (IPPs).

The supply of modules and cells is scheduled to commence and conclude from December 2024 to May 2025.

Shares of the company have skyrocketed 181% since their stock market debut in September, rising from their initial public offering (IPO) price of Rs 450.

Premier Energies's IPO received a robust response from investors, with a subscription rate of 74 times at close, driven by substantial bidding from non-institutional investors.

The company manufactures integrated solar cells and panels, offering a product lineup that includes solar cells and both monofacial and bifacial modules, as well as EPC and O&M services.

Premier Energies' strong growth potential has attracted significant interest from institutional investors.

Notable participants in the company's IPO anchor book include BlackRock, Nomura, Abu Dhabi Investment Authority, DSP India, Morgan Stanley, HDFC Mutual Fund, ICICI Mutual Fund, and PNB Paribas, all of which have contributed to its post-listing rally.

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

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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