Indian stock markets ended lower on Thursday due to a sell-off in software companies and persistent selling by foreign institutions. The BSE Sensex decreased by 553 points and the Nifty50 dropped by 135.5 points. Software exporters like HCLTech and Tech Mahindra saw significant declines, while drugmaker Cipla and infrastructure major Larsen & Toubro were among the gainers.

Select stocks gain momentum even in volatile markets.

Equity markets will remain closed on Friday on account of Diwali. However, exchanges will conduct a special Muhurat Trading session for an hour between 6:00 pm and 7:00 pm.

Wall Street's main indexes opened lower on Thursday as warnings from Meta Platforms and Microsoft about rising AI costs sobered some of the buzz around megacap stocks, which have been the market's primary driver this year.

Bookings growth, a key measure of ridership for online taxi operators, slowed to a more than one-year low in the third quarter and fell short of analysts' forecasts.

Wall Street's main indexes opened lower on Thursday as warnings from Meta Platforms and Microsoft about rising AI costs sobered some of the buzz around megacap stocks, which have been the market's primary driver this year.

Nifty opened flat and traded within a narrow range, closing negatively at 24,205, noted Hrishikesh Yedve from Asit C. Mehta Investment Intermediates. He highlighted that the Nifty Smallcap 100 index outperformed the benchmarks, gaining around 1.15%

In Samvat 2080, Kotak Mahindra Bank's Uday Kotak highlights India's opportunity to become a top-three economy globally, stressing on cautious investment for sustainable growth amidst market volatility. He emphasizes the need for improved ease of doing business and diverse, globally competitive companies.

Equity markets will remain closed on Friday on account of Diwali. However, exchanges will conduct a special Muhurat Trading session for an hour between 6:00 pm and 7:00 pm.

Although off their 2024 peaks, Indian benchmark indices have delivered strong returns since last Diwali, with Nifty up by 25% and the S&P BSE Sensex rising 23%. Broader markets outperformed, with the BSE 500, BSE Midcap, and BSE Smallcap indices gaining 37%, 47%, and 47%, respectively, over this period.

Indian benchmark indices Sensex and Nifty closed lower on the final trading day of Samvat 2,080, pressured by declines in IT stocks. However, gains in Larsen & Toubro, which upheld its annual growth forecast, helped contain the losses.

In Samvat 2080, Kotak Mahindra Bank's Uday Kotak highlights India's opportunity to become a top-three economy globally, stressing on cautious investment for sustainable growth amidst market volatility. He emphasizes the need for improved ease of doing business and diverse, globally competitive companies.

Matrimony.com's Rs 72 crore share buyback is open for eligible shareholders from October 30 to November 6. Only shareholders on record as of October 25 are eligible. The deadline to submit bids is November 6, with settlement by November 12.

Waaree Energies shares zoomed 12% to a new record high of Rs 2,718, marking the fourth consecutive day of gains. The stock debuted at Rs 2,550, a 70% premium over the issue price. With a strong debut and overwhelming IPO subscription, the stock is expected to have a strong long-term outlook.

HDB Financial Services has filed a DRHP for a ₹12,500 crore IPO, including a fresh issue and an offer for sale by HDFC Bank to meet RBI regulations.

Brigade Hotel Ventures has filed a DRHP to raise Rs 900 crore via IPO, targeting debt repayment, acquisitions, and expansion of its hotel portfolio across India.

Europe's benchmark index opened lower on Thursday, and was set to record its worst monthly performance in a year, while moves were mainly powered by a mixed bag of earnings.

Brigade Hotel Ventures has filed a DRHP to raise Rs 900 crore via IPO, targeting debt repayment, acquisitions, and expansion of its hotel portfolio across India.

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Thursday's trading session, five stocks witnessed a long unwinding. Here's the list:

Samco Securities has come out with a list of 10 stocks this Diwali for Samvat 2081 based on its assessment of markets and outlook. These stocks are from sectors like banking, pharma, and IT. Here's the list:

HDB Financial Services has filed a DRHP for a ₹12,500 crore IPO, including a fresh issue and an offer for sale by HDFC Bank to meet RBI regulations.

This demographic shift reflects changing preferences in India's financial ecosystem, where digital financial tools, access to educational resources, and social media have played influential roles in attracting younger investors

On Wednesday, Elcid surged by an unprecedented 66,92,535%, climbing from Rs 3.53 to Rs 2,36,250 after a special call auction on October 29 aimed at discovering the fair value of undervalued holding firms. The stock rose further on Thursday, reaching Rs 2,48,062.5 — a staggering 70,27,166% increase from Rs 3.53.

October has been the worst month on Dalal Street since 2020, with the Nifty down 6%, driven by high valuations, poor earnings, and record FII outflows surpassing Rs 1 lakh crore. This negative trend is further exacerbated by underperformance compared to other global markets.

Significant correction in stocks presents buying opportunities as Nifty index drops 8% from its high. Emkay Global suggests IndusInd Bank, Saregama, Escorts Kubota, Hero MotoCorp, and Mahindra Finance as attractive investments, highlighting their potential for recovery and growth over the next year.

Shares of Tata Power rose 2.9% to Rs 439.50 after reporting a net profit of Rs 1,533 crore for the September 2024 quarter, a 51% year-on-year increase. Revenue from operations fell 1% to Rs 15,247 crore. Consolidated EBITDA grew 23% to Rs 3,808 crore, driven by solar manufacturing and operational efficiency.

In October, the bears made no distinction between large-, mid- or small-cap stocks – mauling them equally. The market behavior during the month underlined the importance of adhering to the basic principles of equity investing. First, remember that when you buy a stock, you own part of a business – and how the business is doing is more important than any movement of the Nifty. Second, if you are a long-term investor, a month of selling should not bother you. It has happened in the past, and will happen in the future as well. So, keep your focus on the business underlying the stock. Check for changes in the environment, and whether they are positive or negative for the business. Last, but not the least, do your homework before investing – not after investing.

Axis Securities and JM Financial both maintain 'Buy' ratings on Biocon, with target prices of Rs 370 and Rs 380, respectively. Biocon has a strong product pipeline, including new offerings expected to drive growth. The company is also refinancing debt to lower costs and exploring fund-raising options through asset sales. Positive growth is anticipated in the biosimilars business starting in 2H FY25.

Usha Financial Services listed at a 2.4% discount on the NSE SME platform, using public offer proceeds to enhance capital and corporate purposes. As an NBFC, it supports NBFCs, corporates, MSMEs, and individuals, showcasing strong financial health with assets of Rs 306 crore and a 33.03% CRAR.

The message of Diwali transcends beyond its cultural significance, offering lessons for long-term financial success. Key themes include decluttering investments, strategic financial planning, embracing compounding, effective risk management, and applying timeless wisdom. These practices align with Diwali traditions, advocating for a well-structured and prosperous financial future.

Usha Financial Services' shares will make their debut on the NSE SME platform on Thursday. Before the listing, the shares showed a grey market premium (GMP) of Rs 9

RVNL shares increased 2% to Rs 474 after securing a contract from East Coast Railway to build additional rail lines. The project, valued at Rs 283.69 crore, strengthens RVNL’s position and is expected to boost revenue. RVNL also expanded internationally by creating a subsidiary in Saudi Arabia.

The Indian market may consolidate amid mixed global cues with India VIX up by 6.85%. FIIs sold Rs 4,613 crore of equities while domestic investors bought Rs 4,518 crore. Key levels for Nifty 50 are 24,500 for sustaining the trend and 24,200 for support. Experts recommend stocks like Bharat Electronics, SBI, and Maruti Suzuki India for short-term trading.

Shares of Elcid Investments soared by an extraordinary 6.7 million percent in one trading session, reaching Rs 2.36 lakh per share. This dramatic rise has made it India's most highly-priced stock. Entry into Elcid’s shareholder club is limited with only 328 shareholders, and the sharp increase is due to a special call auction for price discovery.

This BSE Smallcap index stock surged from Rs 199 on April 29, 2024, to Rs 585 on October 29, marking an over 192% gain. Although it reached a record high of Rs 694 on September 25, it couldn’t sustain the peak. Experts suggest the slight dip as a potential buying opportunity, as the stock continues its uptrend and found support above the 12-week moving average on weekly charts.

Cipla's shares surged 9.8% after the USFDA classified its Goa facility inspection as Voluntary Action Indicated (VAI), allowing for critical drug launches, including the Abraxane generic. Over the past year, the stock has risen 28.26%, with a 23% increase this year, despite a recent 7% decline.

In addition to the fundraising approval, the company also announced the appointment of Virat Sunil Diwanji as a Non-Executive, Non-Independent Director. Diwanji is a seasoned banker with over 30 years of experience in building, managing, and growing retail consumer businesses across both liabilities and assets.

Shares of Adani Power increased 3% as the company signed a deal with MSEDCL to supply 1,500 MW of power. Adani Green Energy also penned agreements to provide 5,000 MW of solar power. Despite reporting a 50% drop in net profit for Q2 FY25, Adani Power's revenue and EBITDA showed growth.

On October 30, the closing prices of three stocks with a market cap over Rs 10,000 crore rallied over 2% relative to the VWAP (Volume Weighted Average Price), and a shift above the VWAP suggests a potential bullish trend, according to stockedge.com's technical scan data.When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume. This occurrence is often interpreted as a potential bullish signal by traders and investors. Potentially indicating positive sentiment in the market.

Benchmark equity indices opened slightly lower due to declines in Reliance Industries, financial, and IT stocks. Continued FPI outflows, reaching around $11 billion in monthly sales, and weak quarterly earnings have affected market sentiment.

Brokerage firms such as Bernstein, Goldman Sachs, UBS, and Macquarie have issued various ratings on L&T, Dabur, and Mastek. Bernstein rates L&T as outperform with a target of Rs 3,891. Goldman Sachs and UBS maintain neutral ratings on Dabur and L&T, respectively. Macquarie marks Mastek as outperform, targeting Rs 3,320, post positive acquisitions and strong Q2 results.

Shares of Larsen & Toubro (L&T) rose 4.8% after reporting a 5% increase in net profit for the quarter ended September 2024 to Rs 3,395 crore. Consolidated revenue grew 21% year-on-year to Rs 61,555 crore. International revenue was Rs 32,057 crore. Analysts have mixed ratings on L&T, ranging from 'Neutral' to 'Outperform'.

On October 30, 3 stocks from the NSE Midcap pack came to the bullish scanner of "White Marubozu", according to stockedge.com's technical scan data.

Acme Solar Holdings has announced a price band of Rs 275-389 for its upcoming initial public offering (IPO), set to open for public subscription on Tuesday, November 5, and remain available until November 8. Investors can bid for a minimum of 51 shares, with additional bids required in multiples of 51.

Shares of Larsen & Toubro (L&T) are set to attract attention on Thursday following their Q2 FY25 earnings report. The company reported a 5% year-on-year increase in net profit, rising to Rs 3,395 crore from Rs 3,223 crore in the same quarter last year. L&T also achieved consolidated revenue of Rs 61,555 crore for the quarter ended September 30, 2024, reflecting a robust YoY growth of 21%

Usha Financial Services' shares will make their debut on the NSE SME platform on Thursday. Before the listing, the shares showed a grey market premium (GMP) of Rs 9

Shares of Zaggle Prepaid Ocean Services are in focus after the board approved a Rs 950 crore fundraise via QIP. The company also appointed Virat Sunil Diwanji as a Non-Executive, Non-Independent Director. Additionally, Zaggle has entered into agreements with Dr. Batra’s Positive Healthcare and TBO TEK for service integration. Shares closed at Rs 439, up 45% over six months.

Adani Power and its subsidiary, Adani Renewable Energy Fifty-Five Limited, have signed agreements with MSEDCL to supply a combined 6,500 MW of power. Despite a 50% drop in Q2 FY25 net profit to Rs 3,298 crore, revenue rose 3% to Rs 13,339 crore. The company's shares have increased 12% in 2024 and 77% over the past two years.

“The IT stocks have shown a relative outperformance in the recent corrective phase of the market and within this sector. Traders can buy Wipro for a target of Rs 590-600 in the next 3-4 weeks,” Ruchit Jain, Lead Research, 5paisa.com, said.

L&T posted a 5% increase in net profit for Q2FY25, reaching Rs 3,395 crore. The company achieved consolidated revenue of Rs 61,555 crore, a 21% growth year-on-year. International revenues accounted for 52% of total revenues. The order book stood above Rs 5 lakh crore, indicating strong performance across various segments.