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- Indian Stock Market News November 19, 2024
NTPC Green Energy IPO | Rising Domestic Air Passenger Traffic | Top Buzzing Stocks Today Tue, 19 Nov Pre-Open
Image source: gorodenkoff/www.istockphoto.comOn Monday, Indian share markets traded on a negative note throughout the trading session and ended marginally lower.
Benchmark indices slipped, driven by concerns over slowing earnings growth and foreign outflows.
Additionally, comments from the Federal Reserve Chair suggesting a more gradual pace of interest rate cuts further dampened market sentiment.
IT stocks were the worst hit while steel stocks gained.
At the closing bell on Monday, the BSE Sensex stood lower by 241 points (down 0.3%).
Meanwhile, the NSE Nifty closed lower by 79 points (down 0.3%).
Tata Steel, HUL and M&M were among the top gainers.
TCS, Infosys and NTPC, on the other hand, were among the top losers.
The BSE MidCap index and the BSE SmallCap index ended lower by 0.2% and 0.7%, respectively.
Shares of Sasken Tech, Banco Products, and Knowledge Marine hit their respective 52-week highs on Monday.
Defence PSU major Hindustan Aeronautics (HAL) also zoomed 4% after the company reported a consolidated net profit of Rs 15.1 bn for the quarter ended September 2024.
Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah shares a practical guide for building a momentum portfolio, in his latest video.
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Learn how to identify and capitalize on market trends to boost your portfolio's performance.
Top Stocks in Focus Today
Godrej Agrovet share price will be in focus today.
Provivi, a global crop protection company, and Godrej Agrovet Limited (GAVL), a food and agri-business conglomerate, have announced a strategic collaboration to deliver sustainable pest control solutions tailored for rice and corn farmers in India.
Godrej Agrovet operates in animal, crop protection, oil pam, dairy, poultry and processed foods businesses.
Muthoot Finance share price will also be in focus today.
In the September quarter, the company reported a 21% year-on-year (YoY) growth in the consolidated net profit to Rs 13.2 bn, compared to Rs 10.9 bn in Q2FY24.
The company's board also approved an additional equity infusion of Rs 500 crore in Muthoot Money.
Market participants will also track shares of IPCA Labs.
The company recently posted its Q2 earnings, and the stock price gained momentum yesterday following good management commentary.
Domestic Air Passenger Hits Single-Day Record
In news from the aviation sector, domestic air passenger traffic crossed 5 lakh for the first time in a single day on Sunday last week, reflecting strong travel demand amid festive and wedding seasons.
Airlines carried 5,05,412 passengers on Sunday (November 17) and the number of flight departures was at 3,173, according to the latest data from the civil aviation ministry.
The occupancy of flights operated by the main scheduled carriers on Sunday were above 90%!
Top Stocks that Mutual Funds Bought and Sold
In the month of September 2024, mutual funds bought stocks worth Rs 872 billion in the Indian secondary market.
According to reports, the key additions by the mutual fund industry were Reliance Industries (Rs 82 billion), Mahindra & Mahindra (Rs 63 billion), and HDFC Bank (Rs 59 billion).
The key reductions were RBL Bank (Rs 8 billion), Cholamandalam Investment and Finance (Rs 6 billion), and HCL Technologies (Rs 6 billion).
From the midcap segment, the key additions were 360 One Wam (Rs 6 billion), Tata Chemicals (Rs 5 billion), and KEI Industries (Rs 5 billion).
The key reductions were Central Depository Services (Rs 5 billion), and Multi Commodity Exchange (Rs 5 billion)
From the smallcap space, mutual funds added ISGEC Heavy, Arvind Ltd, Time Technoplast, SBFC Finance and Power Mech Projects for three consecutive months.
Meanwhile, key reductions were made from ITD Cementation, Cera Sanitary, Texmaco Rail and CMS Info System for three consecutive months.
As you're interested in what mutual funds are buying and selling, check out Equitymaster's Indian Stock Screener.
This tool tracks the stocks recently bought by mutual funds along with the stocks recently sold by them.
NTPC Green Energy IPO
The initial public offering (IPO) of NTPC Green Energy is set to open for public subscription today and will close on November 22.
The company has set a price band of Rs 102-108 per share for its IPO, which is a fresh equity sale of 92.5 crore shares.
Through this offering, NTPC Green Energy aims to raise Rs 10,000 crore.
NTPC Green Energy has deep domain expertise of the management team focusing on new energy solutions like green hydrogen, green chemicals and storage with prudent growth and contributing towards fulfilling India's net zero goals.
The IPO is expected to garner a lot of attention, so stay tuned to this space as we keep you posted on the latest developments.
And to know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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