On November 4, Dalal Street was painted red as the Nifty 50 and Sensex succumbed to a bearish trend, both plunging over 1% and signaling a weak start to the week. At the market's close, the Sensex was down 941.88 points or 1.2%, settling at 78,782, while the Nifty fell 309 points or 1.3%, concluding at 23,995. The market breadth was unfavorable, with 1,279 shares advancing against 2,603 shares declining, and 135 shares remaining unchanged.

Gainers

1. Gensol Engineering
Shares of Gensol Engineering surged by 3.5% following the announcement of a significant solar PV project valued at ₹780 crore. This project, awarded by a leading public utility in Maharashtra, entails the development of a 150 MWac ground-mounted solar PV power plant and is expected to be executed over the next 15 months.

2. Azad Engineering
Azad Engineering's shares jumped by 8% after the company revealed a major long-term contract with Mitsubishi Heavy Industries, valued at ₹700 crore. This contract signals strong demand for Azad Engineering's capabilities and is expected to bolster the company's revenue streams.

3. Mahindra & Mahindra
Mahindra & Mahindra's stock rose over 2% as the company reported a remarkable 25% year-on-year increase in SUV sales, achieving a record 54,504 units sold in October. This marks the highest monthly sales figure for the company, reflecting robust demand for its vehicles.

4. NMDC
Shares of NMDC rose nearly 2% after the company reported a 4% increase in iron ore production year-on-year, reaching 4.07 metric tons in October. Sales also saw a notable rise, increasing by 17% year-on-year to 4.03 metric tons, showcasing NMDC’s operational strength.

Losers

1. Oil Marketing Companies (OMCs)
Shares of oil marketing companies like Indian Oil Corporation (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) fell by up to 5% after Goldman Sachs issued a bearish outlook on the sector. The Q2FY25 performance fell short of expectations, with analysts highlighting weak marketing and refining operations as contributing factors.

2. Sun Pharmaceutical Industries
Sun Pharmaceutical saw its shares decline by 3% following a preliminary injunction granted by the US District Court of New Jersey in a patent dispute related to its hair loss drug, Leqselvi. This ruling raises concerns about the potential financial impact on the company.

3. Bajaj Auto
Bajaj Auto's shares fell 3.5% as investors reacted negatively to its October sales data, which indicated an 8% year-on-year drop in domestic sales to 3.03 lakh units, compared to 3.29 lakh units sold in the same month last year.

4. Hero MotoCorp
Hero MotoCorp, the world’s largest motorcycle and scooter manufacturer, experienced a decline of over 4%. Despite reporting an 18% year-on-year increase in October sales, reaching 6.79 lakh units, the market response was muted, likely due to broader market trends.

5. MOIL
Shares of MOIL dropped nearly 4% following the announcement of a price reduction for its manganese ore, effective November 1. This decision is anticipated to affect the company's revenue in the upcoming quarters.

6. Tata Power Company
Tata Power's shares fell almost 4% after CLSA remarked that the stock has outpaced its fundamentals. The brokerage maintained an "underperform" recommendation, citing that Tata Power’s surge of over 80% in 2024 lacks significant changes in profitability, rendering its current valuations high.

As the market navigates these fluctuations, investors remain alert to upcoming earnings reports and external economic factors that could influence stock performance in the days to come.

The Upcoming IPOs in this week and coming weeks are Archit Nuwood Industries Limited, Swiggy, ACME Solar Holdings, Sagility India, Neelam Lines and Garments, Niva Bupa Health, Rosmerta Digital, NTPC Green, Avanse Financial.

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.