Today’s Market Overview
Today’s market overview is quite bearish, with the Sensex down 670 points and the Nifty below 22,900 (Source: Bloomberg). All sectors are currently in the red, with the Nifty Smallcap 100 index experiencing its worst fall since March 2020, plummeting over 12% this month (Source: CNBC-TV18).
Losers of the Day
The market correction has also affected IPOs and QIPs, with half of the 2024 issues now trading below their issue price (Source: Economic Times). Some of the biggest losers today include:
- Laurus Labs, which plunged 14% due to profit booking (Source: Moneycontrol)
- IDFC First Bank, which plummeted 5% after its net profit halved in Q3 (Source: Business Standard)
Tomorrow’s Market Outlook
As for tomorrow’s market outlook, it’s difficult to predict with certainty. However, some analysts believe that the Nifty may test the 22,800 level, with potential support at 22,700 (Source: ET Markets). Others are cautious, citing global cues and the ongoing market correction (Source: Reuters).
Stocks to Watch Tomorrow
Some stocks to watch tomorrow include:
- ICICI Bank, NTPC, IndiGo, and JSW Steel, which are expected to be in focus due to their recent earnings announcements and other developments (Source: Zee Business)