On October 9, Indian benchmark indices experienced a turbulent trading session as final hour selling led to a notable decline. The Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 percent, maintaining the Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF) rates at 6.75 percent and 6.25 percent, respectively. This marked the tenth consecutive meeting where the RBI opted for no changes, reflecting ongoing concerns regarding geopolitical tensions and inflation. The RBI's shift in stance from 'withdrawal of accommodation' to 'neutral' further indicates a cautious approach moving forward.

By the end of trading, the Sensex was down 167.71 points or 0.21 percent, closing at 81,467.10, while the Nifty dropped 31.20 points or 0.12 percent, settling at 24,982. Both indices saw significant losses from their intraday highs, erasing 852 points for the Sensex and 252 points for the Nifty.

The market witnessed a mixed performance among Nifty constituents, with major losers including ITC, Nestle, Reliance Industries, ONGC, and HUL. In contrast, stocks like Trent, Cipla, Tata Motors, SBI, and Maruti Suzuki emerged as gainers, highlighting a divergence in sector performances.

While large-cap stocks faced profit booking at higher levels, mid and small-cap stocks saw a rebound, with the Nifty Midcap 100 index rising 1% to 59,107 points, and the Nifty Smallcap 100 index climbing 1.33% to 18,864 points. The performance of BSE Midcap and Smallcap indices was buoyed by strong buying interest across various sectors.

Stock in News:

In notable stock movements, Torrent Power surged to an all-time high of Rs 1,984.7 per share after securing an order from Maharashtra State Electricity Distribution (MSEDCL) for a long-term supply of 2,000 MW energy storage capacity from its connected pumped hydro storage plant. Meanwhile, Rites gained as it signed a memorandum of understanding (MoU) with Etihad Rail to explore cooperation in railway and infrastructure services in the UAE.

SKF India saw a significant rise after its board approved the demerger of its industrial and automotive businesses, while Lemon Tree Hotels announced a license agreement for a new hotel in Udaipur, set to open in FY27. Kalpataru Projects International plans to divest its 100% stake in Vindhyachal Expressway to Actis Atlantic Holdings for an estimated Rs 775 crore.

In another notable development, Spicejet rose after settling a $131.9 million dispute with its lessor, and Premier Energies secured a module supply agreement with BN Hybrid Power-1.

Furthermore, Ceinsys Tech reached an all-time high after winning a Rs 331.6 crore order, and Ajmera Realty reported a 1% YoY increase in Q2FY25 sales.

In governance changes, JSW Infrastructure's CEO Arun Maheshwari announced his resignation, effective November 7, with Rinkesh Roy appointed as his successor.

RBI Governor Shaktikanta Das expressed that the Monetary Policy Committee will remain vigilant regarding the evolving economic landscape. He projected a rise in CPI for September due to base effects and increasing food prices, estimating retail inflation at 4.1% for Q2FY25 while maintaining a GDP growth forecast of 7%.

The Diamond Power Infrastructure stock also gained as it prepared to discuss a proposal for a stock split in an upcoming board meeting.

NBCC (India) secured a Rs 50 crore work order for constructing an integrated sports complex in Odisha, while Emkay initiated coverage on Genus Power Infrastructures, giving a 'Buy' call with a target price of Rs 500, suggesting a potential upside of 25.1%.

Honasa Consumer partnered with Meesho to enhance the availability of personal care products in Tier 3 and emerging markets. Additionally, Arvind SmartSpaces announced a new residential project in Bengaluru, set to generate significant revenue.

TVS Motor made strides by partnering with Ecofy to finance electric three-wheelers across India. Finally, Sharan Bansal, Director of Skipper, emphasized the company's aim to achieve Rs 10,000 crore in revenue by FY29, citing improved margins and capital expenditures in tower manufacturing as key growth drivers.

The current active IPO is  Shiv Texchem Limited IPO, Garuda Construction and Engineering Limited IPO.

The Recently Listed IPOs which is available for trading in stock Market are Paramount Dye Tec Limited IPO, Subam Papers Limited IPO, Neopolitan Pizza and Foods Limited IPO, HVAX Technologies Limited IPO, Saj Hotels Limited IPO, Forge Auto International Limited IPO, Nexxus Petro Industries Limited IPO, Diffusion Engineers Limited IPO, Saharsa Electronic Solutions Limited IPO, Thinking Hats Entertainment Solutions Limited IPO, Unilex Colours and Chemicals Limited IPO, TechEra Engineering India Limited IPO, KRN Heat Exchanger & Refrigerator Limited IPO, Wol 3D India Limited IPO , Manba Finance Limited IPO, Rappid Valves (India) Limited IPO, Avi Ansh Textile Limited IPO , S D Retail Limited IPO, BikeWo Green Tech Limited IPO, Kalana Ispat Limited IPO, Phoenix Overseas Limited IPO, Paramount Speciality Forgings Limited IPO, Pelatro Limited IPO, Osel Devices Limited IPO, Northern Arc Capital Limited IPO, Arkade Developers Limited IPO, Deccan Transcon Leasing Limited IPO, Bajaj Housing Finance Limited IPO, Tolins Tyres Limited IPO, Envirotech Systems Limited IPO and many more.

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