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ICICI Lombard General Insurance Company Ltd. traded 2.09 per cent at Rs 1843.60 at 12:21PM (IST) on Friday, even as BSE benchmark Sensex 888.0 points to 78043.79. The scrip had settled at Rs 1805.75 in the previous session. The stock quoted a 52-week high price of Rs 2285.85 and 52-week low of Rs 1354.80, respectively. As per BSE data, total traded volume on the counter till 12:21PM (IST) stood at 1921 shares with a turnover of Rs 0.36 crore.

Zinka Logistics Solutions fell nearly 7% to Rs 260.1 on the BSE following their muted debut on the exchanges on Tuesday. The stock debuted at Rs 279.05 on the BSE, reflecting a premium of just Rs 6 or 2.2% over the IPO price of Rs 273. Meanwhile, from the issue price the stock has fallen 5%.

Shriram Finance Ltd. 0.59 per cent to Rs 2818.20 in Friday's trade as of 12:02PM (IST) even as the benchmark Nifty ruled at 23585.0, 235.1 points. The scrip had closed at Rs 2801.45 in the previous session. The stock quoted a 52-week low of Rs 1933.70 and a high of Rs 3652.15. The company quoted a market-cap of Rs 105598.46 crore on the BSE.

«Because if you look at it smallcap or midcap have not corrected in India significantly mainly because they do not own it. So, the selling has been completely in largecaps, both in 2021-22 and now,» says S Naren, ED & CIO, ICICI Prudential AMC. What is happening in the market? Why there are so many moving parts? S Naren: Actually, on the eve of Diwali, we had to give an interview where we told people that equity is not bank FD because the problem is there was a period of time from 2020 to 24 where people have thought that equity market is bank FD, at least after this correction no longer do people think that equity risk is equal to bank FD risk.

On the BSE, Sheetal Diamond(down 19.97 per cent), Premco Global(down 17.46 per cent), Sai Swami Metals and(down 16.59 per cent), Omni Axs Software (down 11.53 per cent) and Systematix Sec(down 10.81 per cent) were among the stocks that plunged over 5 per cent during the session.

State Bank of India, Bank of Baroda, and Punjab National Bank, as investors regained confidence following Thursday’s sell-off. The Nifty PSU Bank Index rose 2.0% to 6,444.60 in early morning trading, reversing the losses from the previous session. State Bank of India saw a jump of 2.2%, trading at Rs 797.50, while Bank of Baroda and Punjab National Bank were up 2.8%, reaching Rs 235.00 and Rs 99.04, respectively. Other PSU banks, including Canara Bank and Bank of Maharashtra, gained 2.5% and 2.7%, respectively.

foreign portfolio outflows. The US dollar strengthened in the overseas market and Brent oil continued to move up as fighting between Ukraine and Russia continued to gain investors' attention. Moreover, foreign institutional investors have continued their equities selling mode and kept the dollar well bid.

Ambuja Cements Ltd. traded 2.51 per cent at Rs 495.90 at 10:48AM (IST) on Friday, even as BSE benchmark Sensex 399.77 points to 77555.56. The stock had settled at Rs 483.75 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 706.85 and Rs 408.60, respectively.

ACC Ltd. traded 2.63 per cent in Friday's session at 10:44AM (IST). The stock opened at Rs 1985.95 and has touched an intraday high and low of Rs 2085.00 and Rs 1985.95, respectively, during the session so far. The stock quoted a 52-week high of Rs 2843.00 and a 52-week low of 1803.80. About 10,880 shares changed hands on the counter so far.

Tata Power shares are in focus today after the company signed a memorandum of understanding (MoU) with the Asian Development Bank (ADB) during the COP29 climate conference in Baku, Azerbaijan. The MoU aims to evaluate financing for several projects, with a total estimated cost of $4.25 billion. The MoU outlines the evaluation of financing for key ongoing projects, such as the 966 MW solar-wind hybrid project, the pumped hydro storage project, and other projects in the pipeline related to energy transition, decarbonization, and battery storage. It also includes ongoing financing for capital expenditures (capex) to strengthen the distribution networks managed by Tata Power.

Bharti Airtel, Jio Financial and Vodafone Idea are likely to remain in focus on Friday as the Telecom Regulatory Authority of India (TRAI) released the subscriber data as of September 30, 2024. According to the latest data as of September 30, 2024, India's broadband market continues to be dominated by five major players who collectively command 98.42% of the total wired and wireless broadband market share.

SJVN are likely to remain in focus on Friday as the company announced that it has signed a memorandum of understanding (MoU) with the Energy Department, Government of Rajasthan for the development of renewable energy in the state. “In compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is intimated that the Company has signed a Memorandum of Understanding (MoU) with Energy Department, Government of Rajasthan to spearhead the development of renewable energy in the state,” said the company in a filing to the exchanges.

The India VIX climbed 2.09% to close at 15.99 on Thursday, indicating heightened caution. FII selling pressure continues, as the Long-Short ratio hovers around the 25% level.

add call on Sobha with a target price of Rs 1628. The current market price of Sobha is Rs 1511.25. Sobha, incorporated in 1995, is a Mid Cap company with a market cap of Rs 16161.79 crore, operating in the Real Estate sector. Sobha's key products/revenue segments include Income from Sale of Commercial Flats, Shops & Plots, Sale of services, Income From Glazing, Income From Interiors, Concrete Blocks, Rental Income, Other Operating Revenue, Scrap for the year ending 31-Mar-2024.

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Zinka Logistics will debut on the exchanges on Friday. Ahead of the listing, the company's shares were trading with a GMP of Rs 0 in the unlisted market. Considering the upper price band of Rs 273, the stock is expected to list at a flattish premium or even a discount to the issue price.

Shakti Pumps will be in focus today as the company has announced a bonus share issue in the ratio 5:1, for which the ex-date is November 25. This means today is the last day to buy the stock to be eligible for the bonus shares. The company had announced the record date earlier this month.

Sensex and Nifty tumbled on Thursday amid a sharp fall in Adani group stocks after billionaire industrialist Gautam Adani was charged in the US for alleged bribery and fraud. Stocks that were in focus include names like Paytm, which rose nearly 3.65% and IndiGo, which gained marginally by 0.55% and Varun Beverages, whose shares fell nearly 1% on Thursday.

Rahul Singh, CIO, Tata Asset Management, says the market has shifted away from thematic sector-based movements to stock-specific movements now and he expects that even while the markets remain sideways, the nature of the market will be very different and it will be a very bottom-up stock selection rather than the sectoral swings we saw in the last 24 months. So Singh says we should expect a slightly narrower market focused more on valuation and more stock specific. Between November 2021 and March 2023, there were 17-18 months of a very similar phase and it can happen again. What is your view on the market? We know the reasons for the correction which are basically valuation and earnings and the FII outflows, but the question is has all of that been factored in by the market and from here on do we expect a recovery or do you expect this the sideways move to be the nature of the market for the next couple of months? Rahul Singh: The market would be watching the earnings.

Enviro Infra Engineers will open for subscription today. The issue, which is a combination of a fresh equity sale worth Rs 572 crore and an OFS of nearly Rs 78 crore, will be available for bidding till November 26. The company proposes to utilise net proceeds from fresh issue towards working capital requirements, infusion of funds in subsidiary, EIEL Mathura Infra Engineers to build 60 MLD STP under project titled Mathura Sewerage Scheme and repayment of debt.

Wall Street as investors shook off initial concerns over Nvidia Corp.’s revenue outlook. Bitcoin edged closer to $100,000 while the dollar gained. Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session.