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The BSE Sensex fell by 241.30 points (0.31%), settling at 77,339.01, while the NSE Nifty50 dropped by 78.90 points (0.34%)

As the Indian stock market opens on November 19, 2024, investors are bracing for a potentially lower start amid mixed global cues. The GIFT Nifty futures indicate a decline of 96.2 points, trading at 23,505.5. Following a challenging previous session where the BSE Sensex and NSE Nifty50 closed lower, several stocks are expected to be in focus today.

Current Market Overview

In the last trading session, both the BSE Sensex and NSE Nifty50 closed lower. The BSE Sensex fell by 241.30 points (0.31%), settling at 77,339.01, while the NSE Nifty50 dropped by 78.90 points (0.34%), closing at 23,453. This marked a continuation of a downward trend, with the Nifty experiencing its seventh consecutive day of losses.

Key Stocks to Watch Today

Investors should keep an eye on the following stocks as they are expected to make headlines in today’s trading session:

Hero MotoCorp

Current price- ₹4831.5

Hero MotoCorp reported a 5.6% increase in net profit for Q2FY25, reaching ₹1,063 crore, alongside a 10% growth in consolidated revenues, which totaled ₹10,482.93 crore. As the largest two-wheeler manufacturer in India, its strong performance could attract investor interest.

Glenmark Pharma

Current price- ₹1,514.75

Glenmark Pharma has announced a consolidated profit of ₹354 crore for the quarter ending September 30, a significant turnaround from a loss of ₹81.95 crore during the same period last year. This positive shift may position Glenmark favorably among investors.

Sobha Limited

Current price- ₹1,567.45

Sobha Limited has posted a remarkable 75% increase in consolidated net profit for the September quarter, amounting to ₹26.08 crore, compared to ₹14.94 crore a year ago. The realty firm’s strong performance could enhance its appeal in today’s market.

Muthoot Finance

Current price- ₹1,896.35

Muthoot Finance reported a 21% year-on-year increase in consolidated net profit for Q2 FY25, totaling ₹1,321 crore, up from ₹1,095 crore in Q2 FY24. This growth reinforces Muthoot’s position as a key player in the gold loan sector.

Indraprastha Gas and Adani Total Gas

Current price- ₹323.00

City gas companies like Indraprastha Gas and Adani Total Gas are considering an increase in compressed natural gas (CNG) prices following cuts in cheaper input gas supplies for the second time this month. Investors will be watching how these developments impact pricing strategies.

Additional Notable Mentions

  • E.I.D Parry: The sugar manufacturer reported a consolidated profit after tax of ₹591.66 crore, down from ₹781.85 crore last year.
  • Reliance Industries (RIL): RIL has completed the merger of its media assets with Walt Disney’s India operations, forming a joint venture valued at approximately ₹70,352 crore.
  • Bank of Baroda: The bank aims to attract high-net-worth individuals (HNIs) through targeted branch strategies as part of its wealth management initiative.

Conclusion

As traders prepare for today’s session, monitoring these stocks will be crucial amid ongoing market volatility and mixed global cues. With earnings reports influencing investor sentiment and potential price adjustments on the horizon for gas companies, today’s trading could present both challenges and opportunities.