Indian equity benchmark indices declined on Tuesday amid continuous foreign fund outflows and sluggish Asian market cues. Selling in index heavyweights HDFC Bank and Reliance Industries also pulled the benchmark indices.
The BSE Sensex fell 316.31 points or 0.48 per cent to close at 65,512.10. The Nifty lost 109.55 points or 0.56 per cent to settle at 19,528.75.
“Bearish sentiment prevailed through the trading session as weak Asian cues triggered correction in automobile, oil & gas and metal stocks. Globally, the dollar's continued strength against major currencies, including rupee has resulted in a flight of capital to safe haven dollar securities, thus making investors jittery. Ahead of the RBI's credit policy outcome on Friday, markets may witness sideways movement, with focus likely to be on rate-sensitive sectors,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
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Top Stocks To Watch On 4 October:
HDFC Bank
The bank sent out a detailed memo to its employees informing about management changes. Arvind Kapil, the Group Head, will now spearhead the mortgage business. Arvind Vohra will be the Group Head of retail assets. Group Head Parag Rao will be additionally responsible for marketing and liability product group. Current CIO Ramesh Lakshminarayanan would head the IT and digital function.
RVNL
Rail Vikas Niagam Ltd announced on Tuesday that it had emerged as the lowest bidder (L1) for the development of distribution infrastructure at North Zone of Himachal Pradesh under revamped reform-based and results-linked distribution sector scheme. The project is worth Rs 444.26 crore.
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Avenue Supermarts
The D-Mart operator has reported standalone revenue from operations at Rs 12,308 crore for the quarter ended September FY24, up 18.5 per cent from Rs 10,385 crore in the corresponding quarter of previous fiscal. The total number of stores as of September 2023 stood at 336.
Bajaj Finserv
Subsidiary Bajaj Allianz General Insurance received a Rs 1,010 crore-show cause cum demand notice from the Directorate General of GST Intelligence, Pune for alleged non-payment of GST on co-insurance and re-insurance premiums.
Titagarh Rail Systems
The company has signed a contract worth Rs 857 crore with Gujarat Metro Rail Corporation to manufacture 72 numbers of standard gauge cars for the first phase of Surat Metro Rail.
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