In a day marked by significant market volatility, Nifty and Sensex indices declined sharply on November 12 as the auto and FMCG sectors faced losses. The primary drivers of this market movement included investor caution ahead of the upcoming October Consumer Price Index (CPI) data, which is expected to influence future rate hike decisions.

At the close of trading, the Sensex dropped by 821 points, or approximately 1%, settling at 78,675 points. Meanwhile, the Nifty declined by 258 points, representing a 1.1% dip, to close at 23,883 points. The number of declining stocks outpaced advancers, with about 2,641 stocks declining and 1,155 advancing. Here's a breakdown of the top gainers and losers for the day.

Top Gainers of November 12

1. UPL

   • Performance: Shares of UPL rose by 2.5%, marking a strong recovery despite weak quarterly earnings.
   • Highlights: The agrochemical company conveyed optimism in its earnings call, expressing confidence in meeting EBITDA and net-debt targets. The management suggested that the worst might be over, especially in its flagship crops business, where demand has stabilized, and destocking is mostly complete.
   • Brokerage Take: Multiple brokerage firms maintain a positive outlook for UPL, anticipating higher-than-average growth in the coming quarters.

2. Triveni Turbine

   • Performance: Triveni Turbine shares jumped 4%, driven by robust earnings that exceeded market expectations for the July-September quarter.
   • Highlights: This growth was propelled by significant improvements in revenues and operating margins, which led to a positive sentiment among investors and solidified the stock’s place among the day’s top gainers.

3. Jubilant Foodworks

   • Performance: Jubilant Foodworks surged over 6% after releasing its earnings report for the second quarter ending September 30, 2024.
   • Highlights: Although its net profit declined year-over-year, the company’s resilience amid challenges helped it maintain a stable position. Domino's Pizza, operated by Jubilant Foodworks in India, remains a strong player in the quick-service restaurant sector, adding to the stock's appeal.

4. L&T Technology Services

   • Performance: Shares of L&T Technology Services gained 3% following the announcement of its acquisition of Intelliswift, a California-based AI software firm, for $110 million.
   • Highlights: The acquisition is expected to strengthen L&T Tech’s foothold in software product development and digital solutions, particularly in data and AI applications.

Major Losers of November 12

1. Britannia Industries

   • Performance: Britannia shares dropped over 7% after posting underwhelming results for Q2 FY25.
   • Highlights: The FMCG giant reported a net profit decline of 9.4% year-on-year, largely due to rising input costs. Despite strong brand equity, the results disappointed investors, leading to a sharp sell-off.

2. Rategain Travel Technologies

   • Performance: Rategain Travel Technologies fell by 9% following a downgrade by Kotak Institutional Equities.
   • Highlights: The brokerage firm cited high valuations as a key concern and downgraded the stock from 'add' to 'reduce,' suggesting limited upside potential in the near term.

3. NMDC

   • Performance: NMDC shares dropped 4% after releasing Q2 results that led JP Morgan to reaffirm its 'Underweight' rating.
   • Highlights: An EBITDA shortfall due to inventory impact and other expenses weighed on the stock. The firm expects some reversal of inventory issues in the second half of FY25, but for now, investor sentiment remains cautious.

4. HG Infra Engineering

   • Performance: HG Infra Engineering declined by 5% after reporting a 16% year-on-year drop in net profit.
   • Highlights: Revenue from operations fell by 5.5%, leading to concerns over growth sustainability in the infrastructure sector.

5. Hyundai Motor India

   • Performance: Shares of Hyundai Motor India experienced a modest 0.1% drop.
   • Highlights: Despite a strong market debut, Hyundai’s Q2FY25 results revealed an 8% decline in revenue and a 16% drop in profit after tax, reflecting challenges in maintaining momentum post-listing.

Market Outlook

With the CPI data release imminent, the market remains on edge as investors await potential insights into inflationary pressures. Auto and FMCG sectors are particularly vulnerable, and any adverse CPI surprises may further impact these industries. As we move forward, market analysts suggest a cautious approach, particularly for stocks in these segments.

Investment Takeaways

In conclusion, the mixed bag of performance among gainers and losers on November 12 highlights the importance of staying attuned to earnings calls, sectoral trends, and macroeconomic indicators. Investors should consider company-specific fundamentals, especially in sectors like FMCG and auto, which are currently experiencing pressure from broader economic forces.

Stay informed on market updates and stock analysis to make educated investment decisions. The coming days, with key economic data releases, will likely set the tone for market movements in the latter half of November.

Also Read : All Upcoming and Active IPOs : Dates, Pricing, GMP and Key Details

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.