We are nearing the arrival of Samvat 2081. Since the last Samvat, the benchmark index Sensex has increased by about 23%, while the BSE Auto index has surged by 50%. ETMarkets analysis found that most stocks from the BSE Auto index have provided double-digit returns in the period between last Diwali and this. Additionally, we have highlighted the top eight stocks that have experienced gains ranging from 50% to 115% during this period. (Data Source: ACE Equity)

A correction is underway on the street, with all segments of the market witnessing a decline. On Tuesday, there was a sharp correction at the level of the Nifty and Sensex – coupled with extremely negative market breadth. It is not the first time – nor will it be the last – that such corrections have taken place. As an investor, your focus has to be on owning the correct business – and not corrections. And the correct business is one with a track record of growth and sharing profits with minority investors. The other important thing: Stick to the nine basic principles of investing.

The stock is currently trading at Rs 120, positioned below its 10, 20, 50, and 100-day exponential moving averages (DEMAs), while attempting to hold above its 200 DEMA

The Sensex and Nifty50 climbed on Wednesday, recovering from early trade indecision, as gains in Bajaj Finance boosted market sentiment, which has been weighed down through most of October by weak corporate earnings and sustained foreign selling. Meanwhile, six small and midcap stocks from the Nifty 500 index hit new 52-week highs. Here's the list:

After fluctuating between gains and losses, key equity indices Sensex and Nifty50 ended in the red for the third straight session on Wednesday, as weak corporate earnings and continued foreign selling dampened market sentiment.

India's power sector, with a planned investment of Rs 42 trillion over the next decade, aims to upgrade infrastructure and meet increasing energy demand. The focus will be on renewable energy projects, battery storage, and transmission networks, driven by policy reforms and improved asset quality, presenting substantial growth opportunities.

Dynamic hedging, as practiced by experienced fund managers, mitigates risks through real-time adjustments in long and short positions. A 137-year study by Hurst, Ooi, and Pedersen reveals that such strategies performed well during major financial crises, wars, and high-inflation periods, enhancing returns and providing downside protection.

Apart from the ongoing corporate earnings season, which investors are using as a gauge for the continent's economy, all eyes are on the still-too-tight-to-call U.S. election and the trajectory of interest rate cuts across major central banks.

A short buildup occurs when there is a rise in open interest and trading volumes, coupled with a decrease in the price of the underlying stock in the Futures and Options segment. This indicates that more traders are expecting the prices to decline and are creating short positions. In Wednesday's trading session, five stocks saw fresh short positions being built. Here's the list:

Hyundai Motor India Share Price Today: Shares of Hyundai Motor India rose nearly 6% to Rs 1,928 after a lackluster listing. The Rs 27,870 crore IPO was fully subscribed and included an offer for sale from Hyundai Motor Global.

Mahindra Finance shares fell 8% despite a 26% YoY profit growth to Rs 390 crore. Analysts remain cautiously optimistic, citing concerns over rural borrower stress and seasonal performance impacts.

Hindustan Zinc shares rose 4% as silver prices exceeded ₹1 lakh per kg. Analysts foresee further gains amid industrial demand and safe-haven appeal, particularly leading up to Dhanteras.

Deepak Builders & Engineers' IPO is oversubscribed 17.5 times, led by non-institutional and retail investors. The company aims to raise ₹217 crore for working capital and debt repayment.

Can Fin Homes shares rose nearly 6% after reporting a 33.8% YoY profit increase to Rs 211.5 crore for Q2. The company's loan portfolio and disbursements also showed strong growth.

GFCL EV Products raised ₹1,000 crore at a ₹25,000 crore valuation to expand in the electric vehicle battery materials sector, targeting global opportunities and significant market demand.

On a day when all PSU banks witnessed sharp cuts, there was a quasi private sector bank which witnessed an over 11% gain. Why this divergence in various segments of the banking sector? Just because its stock has not performed for three consecutive years does not make the HDFC Bank a bad bank. Yes, large FII ownership and readjustment in the post-merger shareholding may have made it an underperformer for some time. But every stock that has performed well for long may experience such a phase. So, when it comes to banks, take a look at them individually. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.

Coforge's shares surged 10% to Rs 7,475.15 on BSE after posting a Q2FY25 profit of Rs 233.6 crore. Revenue grew 26.3% Q-o-Q and 33% YoY. EBITDA margin improved to 15.8%. The company declared an interim dividend of Rs 19 per share. Order intake for the quarter was $516 million.

Domestic brokerage firm SBI Securities has come out with a list of 12 stocks this Diwali for Samvat 2081 based on its assessment of markets and outlook. These stocks are from sectors like consumption, auto, BFSI, real estate, travel & tourism, engineering & capital goods, railway wagons, and telecom."We believe that Samvat 2081 is likely to be a bottoms-up stock pickers market. Investors should adopt trading/investment strategy so as to preserve the wealth created post Covid pandemic and temper down return expectations for the next 6-12 months. New investors should adopt a gradual and well spread-out capital deployment strategy for next 3-6 months so as to reap benefits in the second half of Samvat 2081," SBI Securities said.

Olectra Greentech's shares rose nearly 6% after reporting a 156.4% YoY profit increase to Rs 47.7 crore for Q2. Revenue surged 70.5% to Rs 523.7 crore, boosting market confidence.

Coforge reported a profit after tax of Rs 233.6 crore for Q2 2024, marking a 24.3% YoY increase. Revenue grew by 33% YoY. The company also announced an interim dividend of Rs 19 per share. Shares have risen by 35.9% over the past year. Coforge's CEO expressed confidence in sustained growth.

Lakshya Powertech's shares debut on the NSE SME platform at a 90% premium, opening at Rs 342 against an issue price of Rs 180. Funds from the public offer will address debt repayment, working capital, and general corporate needs. The company operates in oil and gas, renewable energy, power, and industrial sectors.

Domestic indices surged led by HDFC Bank, despite foreign outflows. Analysts suggest bearish trading strategies for Canara Bank and DLF based on technical indicators and derivative data.

Zomato shares dropped 5% after Q2 profits fell short of expectations. Despite a 389% year-on-year profit increase, analysts expected higher figures. Brokerages have mixed opinions on the stock, with some raising target prices and others expressing concerns about profitability in the quick commerce segment. Nomura remains optimistic about growth potential.

Paytm's shares rose 5% after reporting a quarterly profit of ₹928.3 crore, attributed to a one-time gain. The company also received NPCI approval to onboard new UPI users.

Paytm Share Price: Shares of One 97 Communications' Paytm rose 5% on NPCI's approval for onboarding new UPI users, post-RBI's earlier restrictions. NPCI's nod mandates compliance with various guidelines. Paytm also reported a significant PAT boost in Q3 FY2024 due to a one-time gain from selling its entertainment ticketing business to Zomato.

Bajaj Finance shares jumped 4.2% following a 13% net profit increase to Rs 4,000 crore for Q2FY25. Despite missing estimates, revenue rose 28% to Rs 17,090 crore. AUM grew 29%, but loan losses and provisions also increased. Analysts remain positive but have lowered target prices.

Shares of Persistent Systems rose by 5.7% following its Q2 results. The company reported a 23.4% increase in profit after tax, reaching Rs 325 crore year-on-year. Revenue saw a 20% rise, standing at Rs 2,897.15 crore. The total expenses for the quarter also increased compared to the previous fiscal year.

The Indian market is expected to edge higher on Wednesday following positive global cues. Analysts suggest a broader trading range between 24,000 to 25,000 zones for the Nifty. Experts have recommended stocks from the F&O basket and cash market for short-term trading. Key stock recommendations include Axis Bank, ICICI Bank, and RIL.

Adani Energy Solutions shares are under scrutiny following the receipt of a show-cause notice (SCN) from the Securities and Exchange Board of India (SEBI) during the September quarter, related to the wrongful categorization of shareholders. The company disclosed this in its exchange filing for the quarter but did not provide further details.

Domestic equity indices Sensex and Nifty50 rebounded on Wednesday, supported by HDFC Bank and Bajaj stocks, despite foreign outflows.

FIIs have increased their stakes in 8 out of 10 top Indian IT companies to capitalize on the US interest rate cut cycle. Infosys, TCS, Tech Mahindra, HCL Tech, and Wipro saw notable FII stake hikes. While mutual funds also increased their stakes in several companies, retail investors reduced their holdings.

Over 140 stocks that have more retail holdings than institutional in the past year have delivered significant returns. Nine state-run companies and numerous private sector companies are among these multibaggers. Experts advise caution as many lesser-known stocks have liquidity risks. Some stocks like Kaycee Industries and Cropster Agro are recommended for exit.

Bajaj Finance shares will be closely watched on Wednesday following a 13% rise in net profit for Q2 FY25, reaching Rs 4,000 crore, though slightly below estimates. Revenue surged 28% to Rs 17,090 crore, while net interest income increased by 23% to Rs 8,838 crore. New loans booked rose 14%, totaling 9.69 million compared to the previous year.

Shares of Persistent Systems are expected to attract attention following the company’s announcement of its Q2 results on Tuesday. It reported a 23.4% year-on-year increase in profit after tax (PAT), reaching Rs 325 crore.

Shares of RITES are in the spotlight on Wednesday following the company's announcement that its previously awarded project management consultancy (PMC) contract from the Karnataka Mining Environment Restoration Corporation (KMERC) has been converted into a turnkey contract.

Coforge reported a profit after tax of Rs 233.6 crore for Q2 2024, marking a 24.3% YoY increase. Revenue grew by 33% YoY. The company also announced an interim dividend of Rs 19 per share. Shares have risen by 35.9% over the past year. Coforge's CEO expressed confidence in sustained growth.

The Nifty Index faced intense selling on Tuesday, breaking 24,450 zones and closing below 24,500 with a loss of around 310 points. Chandan Taparia suggests weakness will continue if it stays below 24,500, with targets at 24,350 and 24,200. A Bear Put Spread strategy is recommended for traders expecting further decline.

Nuvama has maintained a 'buy' rating on Zomato, raising the target price to Rs 325, citing growth momentum and faster Blinkit dark store additions. However, profitability may need more upfront costs. Conversely, Macquarie retains an underperform rating, highlighting concerns over margin expansion and unit economics amid rising competition.

SBI Life Insurance is set to release its quarterly results for July-September 2024 today, with brokerages predicting 0-14% YoY growth in annual premium equivalent. Estimates vary for the value of new business, projecting a range between Rs 1,395 crore and Rs 1,617 crore.

Bajaj Finserv will announce its September quarter earnings today. Previously, the company saw a 10% year-on-year profit rise for the June quarter. Allianz may exit their joint ventures, but remains committed to the Indian market. Bajaj Finance reported a 13% net profit increase for the September quarter.

Goldman Sachs has revised Indian equities from overweight to neutral due to slowing economic growth and weakening corporate earnings. High valuations and declining consumer spending contribute to a cautious outlook, with a projected 10% upside for the NSE Nifty 50 Index.

On October 22, three stocks with a market cap of over Rs 1000 crore appeared in the RSI Trending Up scan, according to the stockedge.com data. It is an uptrend signal if the RSI value has crossed above 50 from below.

Shares of Indus Towers are expected to attract attention after the Competition Commission of India approved Bharti Airtel's plan to increase its stake following a share buyback. The buyback, initiated on August 14, involves acquiring over 5.67 crore shares at Rs 465 each, representing about 2.107% of total equity.

Paytm shares will be in focus after the National Payments Corporation of India (NPCI) approves onboarding of new UPI users, contingent on compliance with procedural guidelines. This follows a directive from the Reserve Bank of India, effective February 29, 2024, halting deposits and credit transactions in customer accounts and prepaid instruments.

The record-breaking run in Indian stocks in 2024 reversed in October after a rebound in Chinese markets triggered record outflows from local equities.

Adani Green Energy Price: Adani Green Energy's consolidated net profit jumped 39% to Rs 515 crore in Q2 2024, driven by major greenfield capacity additions and robust operational efficiency. Revenue rose 30% to Rs 3,376 crore. The company reduced its net debt-to-EBITDA ratio and reported significant growth in operational capacity and energy sales.

Zomato Share Price: Zomato's second-quarter profit surged 389% YoY to Rs 176 crore, below market estimates. Revenue climbed 68% to Rs 4,799 crore driven by food delivery margins and quick commerce business. Despite improvements, Blinkit’s EBITDA remains negative due to infrastructure investments.

Shares in Tokyo Metro surged 36% on their Tokyo market debut, following a highly popular initial public offering that raised $2.3 billion. The IPO was oversubscribed by more than 15 times, attracting investors with an appealing dividend yield and additional perks. This marked Japan's largest IPO since 2018.

European Central Bank officials warn that inflation may drop below the 2% target. Despite past high inflation, current economic weakness is a concern. There are expectations of rate cuts ahead. ECB President hopes inflation will meet the target sooner than the 2025 projection.