The BSE Sensex tumbled by 940 points, or 1.18%, to close at 78,782.24, while the NSE Nifty50 dipped by 309 points or 1.27%, settling just below the 24,000-mark at 23,995.35.
Volatility surged as the India VIX climbed 5.01%, ending the day at 16.70 points. Broader indices followed suit, with Nifty Midcap100 and Nifty Smallcap100 both slipping by 1.31% and 1.98%, respectively. The entire market, from large caps to small caps, echoed the bearish sentiment.
Impact on the stock market
The wave of sell-offs affected all sectoral indices, with major drops across the board. Here’s a quick snapshot of the most impacted sectors:
- Oil Marketing Companies (OMCs), Realty, and Media sectors suffered the sharpest losses, each down by over 2%.
- Financials, FMCG, Metals, Private Banking, and Consumer Durables followed with declines of more than 1% each.
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| Sector/Index | Performance |
| IT & BPM sector | -0.03% |
| Healthcare sector | -0.38% |
| Oil & Gas sector | -2.48% |
| Real estate sector | -2.93% |
| PSU Bank in India | -0.24% |
Top gainers today
| Company | Price | Change % |
| M&M Share Price | 2,883.95 | 2.35 |
| Tech Mahindra Share Price | 1,638.40 | 2.17 |
| Cipla Share Price | 1,584.60 | 1.61 |
| SBI Share Price | 829.85 | 1.05 |
| Dr Reddys Labs Share Price | 1,268.30 | 0.69 |
Top losers today
| Company | Price | Change % |
| Hero Motocorp Share Price | 4,806.05 | -4.27 |
| Grasim Share Price | 2,590.60 | -4.01 |
| Bajaj Auto Share Price | 9,525.55 | -3.55 |
| Adani Ports Share Price | 1,349.25 | -3.24 |
| BPCL Share Price | 303.45 | -3.05 |
Market aftermath: Impact on stocks
Apollo Hospitals: A Preview of Strong Growth
Apollo Hospitals is set to announce its Q2 results on November 6, with analysts predicting a 55% jump in net profits, largely due to increased revenue per occupied bed (ARPOB) and reduced losses in its digital unit, Apollo 24/7. According to brokerage forecasts, Apollo’s Q2 revenue is expected to grow 14% year-on-year, reaching ₹5,518 crore, up from ₹4,847 crore last year.
The company’s operational efficiency is also anticipated to improve, with its EBITDA margin projected to expand to 14.14% from 12.9%. These anticipated results have kept investor interest steady, even in today’s otherwise negative market climate.
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Taj GVK: Strong Quarterly Growth Fuels Stock Surge
Shares of Taj GVK surged close to 8% following the announcement of an impressive 76.46% increase in Q2 net profit. The Hyderabad-based hospitality company reported a net profit of ₹19.65 crore for Q2FY25, up from ₹11.13 crore in the same quarter last year. The company’s stock, which initially jumped over 9% before paring some gains, ended the day at ₹330.85, a 7.82% increase.
This growth reflects Taj GVK’s resilience in a challenging economic environment, as it managed to leverage a steady rise in tourism and hospitality demand. In contrast to the broader market trend, Taj GVK’s strong quarterly performance highlights the ongoing recovery in the hospitality sector.
Rainbow Children’s Medicare: New Highs on Record Q2 Results
Rainbow Children’s Medicare continued its impressive run, reaching a new high of ₹1,685 in Monday’s intra-day trade, marking a 9% rally on strong Q2 earnings. In the past six trading sessions, the stock has appreciated by 24% following the announcement of record revenues and profit figures.
For Q2FY25, Rainbow posted a 25.1% year-on-year increase in profit after tax (PAT) and a 98.9% quarter-on-quarter growth, bringing PAT to ₹79.01 crore. Revenue also saw a significant jump, growing by 26% year-on-year to ₹417.46 crore. Rainbow’s management plans to continue expanding, with 380 additional beds planned across various locations over the next 24 months.
Despite today’s market dip, Rainbow Children’s Medicare’s strong fundamentals and optimistic future growth plans indicate long-term confidence among investors.
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Crude Oil Futures Rise as OPEC Delays Production Increase
The commodity markets saw crude oil futures increase following OPEC+’s decision to delay its planned output boost by a month. As of Monday morning, January Brent oil futures were up 1.66% at $74.31, while December crude oil futures on WTI increased by 1.77%, trading at $70.72.
OPEC+, which includes major producers such as Saudi Arabia, Russia, and Iraq, chose to delay their additional production adjustments of 2.2 million barrels per day until the end of December 2024. This decision, coupled with rising tensions in West Asia, has led to speculation about potential supply disruptions, further driving up oil prices.
Additionally, political tensions have heightened concerns over supply stability. Iran’s recent threats towards Israel, alongside a closely contested U.S. presidential race, have amplified worries in the market, adding to the upward pressure on crude prices.
Conclusion
Today’s trading session in the Indian stock market ended on a sombre note, with key indices like the Sensex and Nifty closing significantly lower. Broader declines were evident across most sectors, reflecting global uncertainties and cautious investor sentiment.
Amid the downtrend, certain stocks like Taj GVK and Rainbow Children’s Medicare bucked the trend with strong Q2 earnings reports, offering investors some optimism amid an otherwise challenging day. Additionally, the rise in crude oil futures amid geopolitical tensions and OPEC+’s delayed production increase also underscored global market influences on commodity prices.
Overall, while today was a difficult session for most investors, a few strong quarterly performances and ongoing developments in the oil market may provide opportunities to watch in the coming days.
For more stock market insights, check out the StockGro blog.
