On Monday, India’s benchmark index Sensex dropped by approximately 73 points, closing at 81,151. Despite this decline, six stocks from the BSE commodities index reached their 52-week highs. A 52-week high indicates the highest price a stock has achieved over the past year, providing valuable insights for traders and investors. This benchmark aids in evaluating a stock’s current value and predicting its future potential.

Shares of holding companies, including GFL, Pilani Investment and Industries Corporation, and SIL Investments, up to surged 20% on Monday. This followed an NSE circular announcing a special call auction session on October 28 for price discovery of listed investment companies (ICs) and investment holding companies (IHCs).

Indian market remained volatile on Monday and closed the day with marginal losses. The S&P BSE Sensex fell 73 points while the Nifty50 closed below 24,800 levels.

Nifty's trend remains weak within a range-bound movement. After failing to maintain its recent upward bounce, the market may retest the lower levels of 24,600-24,500 in the near term, with immediate resistance around the 25,000 mark, according to Nagaraj Shetti of HDFC Securities.

Indian headline indices S&P BSE Sensex and Nifty ended in the red on Monday after swinging between gains and losses through the session, as lackluster earnings and fresh profit-booking outweighed a post-results rally in top private lender HDFC Bank. The 30-share Sensex fell by 73 points, or 0.09%, to close at 81,151, while the broader NSE Nifty slipped 73 points, or 0.29%, to end at 24,781.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that traders remain uncertain about the market direction at the current juncture. As Nifty remained volatile throughout the day, it found resistance at the 50-EMA on the daily timeframe on the higher end. Additionally, the index failed to move beyond 25,000, which led to selling pressure that pushed it down to 24,700, he opined. If Nifty falls below 24,700, the selling pressure may intensify and if it holds above this level, a smart recovery toward 25,050 could be expected, De said.Here are 2 stock recommendations for Tuesday:

In the quarter ending September 2024, 40 out of 59 PSU stocks saw an increase in the holding percentage by retail investors compared to the previous quarter. From the start of September to date (July to now), the Sensex has risen approximately 2.8%, while the BSE PSU index has decreased by 2.35%, with most PSU stocks experiencing a correction. We have highlighted the top 12 stocks, which have over 1% net change in holdings during the September quarter compared to the previous quarter, along with their performance over the three-month period. (Data Source: ACE Equity)

Short covering happens when traders buy back shares they previously sold short, often due to a shift in market sentiment or new information. This usually results in a decrease in open interest and can drive the stock price higher. In Monday's trading session, five stocks saw short covering. Here's the list:

The BSE Sensex dropped 73 points to 81,151, while the NSE Nifty declined 73 points (0.29%) to 24,781. The market capitalization of all BSE-listed companies fell by Rs 5.06 lakh crore to Rs 453.09 lakh crore. Top laggards included Kotak Mahindra Bank and Bajaj Finance, while HDFC Bank and Reliance Industries gained.

Supported by strong housing demand and a robust launch pipeline, Prestige Estates' shares may rise 23%. Nuvama raised the target price to Rs 2,175 from Rs 2,136 while retaining a 'buy' rating. Strong housing demand and a robust launch pipeline across geographies in H2FY25 are likely to boost PEPL’s sales trajectory going ahead. Improvement in office demand and PEPL’s strengthened balance sheet post-QIP underpin our bullish stance on the company.

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 Monday's trading session, five stocks witnessed a long unwinding. Here's the list:

Bajaj Finance is anticipated to report a net interest income between Rs 8,810 crore and Rs 9,187 crore for the quarter ended September 30, 2024. Profit after tax could be around Rs 4,030 crore to Rs 6,083 crore. The results are based on estimates from brokerages like Kotak, ICICI, and Emkay.

The foreign brokerage noted that urbanization and infrastructure projects are expected to drive medium-term demand, while utilization levels should remain stable despite the addition of new capacity.

Indian benchmark equity indices traded flat after fluctuating between gains and losses, as broad-based profit-booking overshadowed a post-results rally in HDFC Bank, the top private lender. Amid this, six stocks from the Nifty500 index reached new all-time highs. Here's the list:

HCL Technologies’ board approves an interim dividend of Rs 12 per share with October 22 as the record date. Shareholders will receive the dividend on October 30. The company reported a 10.5% rise in Q2 consolidated net profit to Rs 4,235 crore and an 8.2% increase in revenue.

RBI has rejected Tata Group's request to exempt Tata Sons from mandatory stock listing. Tata Sons must list by September 2025. Tata Group attempted to reduce its debt to avoid classification as an upper-layer NBFC. Tata Chemicals' shares rose 14%, benefiting from the potential value unlocking if Tata Sons proceeds with an IPO.

Stock-broking firm Groww reported total revenue of Rs 3,145 crore for FY24, reflecting a 119% increase from Rs 1,435 crore in the previous year. Despite this growth, the company faced a net loss of Rs 805 crore due to a one-time India domicile tax.

BSE data reveals that Mukul Mahavir Agrawal holds nearly 9 lakh shares in the company. As of September 2024, Stanley Lifestyle’s equity structure comprises 56.81% held by the promoter and promoter group, while the remaining 43.19% is owned by public shareholders.

Bajaj Housing Finance is anticipated to report a net interest income between Rs 8,810 crore and Rs 9,187 crore for the quarter ended September 30, 2024. Profit after tax could be around Rs 4,030 crore to Rs 6,083 crore. The results are based on estimates from brokerages like Kotak, ICICI, and Emkay.

Motilal Oswal has begun coverage of Raymond Lifestyle (RLL) with a buy rating and a target price of Rs 3,200, anticipating a transformative journey for the company. This target price suggests a potential upside of 32% from its previous closing price of Rs 2,364 on Friday.

European shares kicked off the week broadly unchanged on Monday, after two back-to-back weekly gains, as investors brace to assess a series of corporate earnings.

Japan's Nikkei share average fell in choppy trade on Monday, despite gains in technology stocks, as caution ahead of a domestic election and corporate earnings weighed on sentiment.

Revenue from operations for the reported quarter stood at Rs 4,214 crore, up 13% from Rs 3,734 crore in the corresponding quarter of the previous financial year.

Tejas Networks shares surged 20% to Rs 1,427.55 on Monday after the company reported a return to profitability in Q2 FY25. The profit after tax (PAT) reached Rs 275 crore, compared to a net loss of Rs 13 crore last year. Consolidated revenue soared six-fold to Rs 2,811 crore, up from Rs 396 crore in the same quarter last year.

Bajaj Finance is projected to report a net interest income of Rs 8,810-9,187 crore and profit after tax of Rs 4,030-6,083 crore for Q2FY25, reflecting significant year-on-year growth.

A long buildup occurs when open interest and trading volumes increase alongside a rise in the underlying stock price in the Futures and Options segment, signaling a bullish market trend. In Monday's trading session, five stocks saw fresh long positions. Here’s the list:

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 Monday's trading session, five stocks saw fresh short positions being built. Here's the list:

Shares of Netweb Technologies soared to a record Rs 2,949.65 on BSE, following a 69.7% YoY rise in PAT to Rs 25.7 crore for Q2FY24. The company also reported a 71% YoY income increase, a strong order book, and significant AI systems income growth.

The restrictions will be effective from October 21, 2024 on four NBFCs Asirvad Micro Finance (a subsidiary of Manappuram Finance), Arohan Financial Services, DMI Finance, and Navi Finserv.

Suraj Estate Developers raised Rs 343 crores through equity shares and convertible warrants, targeting land acquisitions and working capital. The funds will enhance growth in residential and commercial real estate.

The company also reported an 18% jump in its revenue on a year-on-year basis (YoY) at Rs 348 crore for the second quarter ended September 2024, which stood at Rs 295 crore in the same quarter of the previous fiscal year.

Kotak Mahindra Bank shares fell over 4% as net interest margins declined and asset quality worsened. Brokerages cut earnings estimates and target prices, citing rising NPAs and slower growth.

While announcing the quarterly numbers, the Mahindra Group company also declared an interim dividend of Rs 15 per equity share and fixed November 1 as the record date for determining eligibility of shareholders.

This Diwali, domestic brokerage firm Anand Rathi has selected a range of promising stocks that, based on technical parameters, show potential for solid returns over the next year. The list includes stocks like Tata Technologies, IRB Infra, Hindustan Zinc, and BEML. Here's a closer look at the picks:

Indian benchmark equity indices fell on Monday, led by drops in Kotak Mahindra Bank and IT stocks amid mixed global cues. The BSE Sensex decreased by 315 points, while the Nifty50 fell by 129 points. Early trade saw gains in HDFC Bank, Tech Mahindra, and Axis Bank.

Geopolitical tensions and weak earnings pressured Indian markets, with Nifty facing resistance at 25,100. A bearish sentiment suggests using a Bear Put Spread strategy for potential gains.

On the options front, the maximum Call OI is placed at 26000 and then towards 25000 strikes while the maximum Put OI is placed at 24000 and then towards 24500 strikes

Hindalco Industries has experienced over a 50% rally in the aluminum sector and has recently broken out from a 3-year Cup & Handle pattern. Experts suggest short-term buys for high-risk traders with targets of Rs 840, while maintaining a stop loss below Rs 680.

The first phase of the development consists of 5 residential towers with expansive gardens and bookings for 2 towers, which commenced on 18 th October 2024.

Hindustan Zinc's net profit rose 35% to ₹2,327 crore, driven by increased revenues. The company plans a 26% equity investment in Serentica Renewable and declared a ₹19 interim dividend.

The Nifty50 and S&P BSE Sensex fell by 0.44% and 0.19%, respectively, last week, dragged by losses in auto, metal, and information technology stocks. Meanwhile, a number of analysts have identified several stocks with the potential to deliver up to 10% returns in the near term. Here are 6 technical picks:

Meanwhile, the bank also reported a 24% YoY growth in its operating profit to Rs 910 crore for the reporting period. On a half-yearly basis, RBL Bank’s net profit also witnessed an increase of 2% YoY to Rs 594 crore and the NIMs were reported at 5.35%.

Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) climbed 5% to Rs 1,847 on the BSE during Monday's trading session, following the company's receipt of a Letter of Intent from the Naval Physical & Oceanographic Laboratory (NPOL), which is part of the Ministry of Defence’s DRDO.

Indian indices opened higher, led by HDFC Bank and Reliance, despite negative global cues. HDFC Bank shares surged over 3% after strong quarterly profits.

Foreign institutional investors have withdrawn nearly $10 billion from the Indian stock market in October, marking a record high. Contributing to this sell-off are concerns over China's economic stimuli, overvaluation of Indian equities, a tepid corporate earnings season, and a stronger dollar impacting emerging markets.

On October 18, seven stocks with market cap over Rs 1000 crore came to the bullish scanner of "White Marubozu", according tostockedge.com's technical scan data. A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest. Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session. Traders interpret it as a signal that buyers were in control from the opening to the closing, often using such patterns for informed decisions about future price movements in financial markets.

Shares of HDFC Bank rose 3% to Rs 1,734 on BSE after it reported a 5.3% YoY rise in PAT for Q2, surpassing Street estimates. The bank received board approval for the IPO of its NBFC subsidiary HDB Financial Services. Loan and deposit growth trends varied, with overall robust performance noted.

IIFL has an add rating on RBL Bank while Nuvama has downgraded IndiaMart to reduce, while also reducing its target price.

Shares of JM Financial will be closely watched after the RBI lifted a ten-month ban on its subsidiary, JM Financial Products Ltd, allowing it to resume business activities tied to funding for shares and bonds following rectification of previous regulatory violations and governance issues.

The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10 from 3.35%, while the five-year LPR was cut by the same margin to 3.6% from 3.85% previously.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, we have collated a list of three stocks that witnessed a 5-year swing high at the close on October 21, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock. However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years or longer.