Gainers & losers: Stocks and sectors that moved the most on October 3
BSE-listed companies lost over Rs 11 lakh crore in investor wealth. Volatility surged as the India VIX, the market's fear gauge, jumped nearly 10 percent to 13.2, indicating a sharp rise in market anxiety.
Indian equity benchmarks, Sensex and Nifty, tumbled over 2 percent on October 3, as broad-based selling gripped the markets. The downturn was fueled by escalating tensions in the Middle East, SEBI's stricter regulations on F&O trading, and a surging Chinese market attracting foreign investors. By the close, the Sensex had plummeted 1,769 points, or 2.1 percent, to 82,497, while the Nifty dropped 530 points to 25,267. Market breadth was weak, with 1,077 shares advancing, 2,737 declining, and 86 remaining unchanged. Investor wealth on the BSE eroded by over Rs 11 lakh crore.
2/11
Realty Stocks | Shares of DLF, Sobha, Godrej Properties, Lodha and other realty firms fell up to 6 percent on October 3 amid a market sell-off. The slump comes as housing unit registrations dropped in Mumbai in September. Data showed that the number of housing units registered in Mumbai in September 2024 dropped 15 percent year-on-year (YoY) to 9,111 units, as buyers delayed purchases due to the inauspicious Shraadh period and expectations of a stamp duty reduction before the state elections.
3/11
BSE | CMP: Rs 3,980 | BSE shares jumped over three percent after the SEBI’s after the new F&O norms released by SEBI turned out to be more lenient-than-expected. Experts suggest the new norms will be worse for BSE’s competitor, the NSE and that BSE is poised to benefit.
4/11
ITD Cementation | CMP: Rs 645.35 | ITD Cementation zoomed 20 percent to hit the upper circuit after the company secured a new contract to construct a multi-story commercial building in Uttar Pradesh. The contract is valued at approximately Rs 1,900 crore, inclusive of taxes and duties.
Angel One | CMP: Rs 2,716 | Angel One share price surged 4.5 percent despite markets regulator SEBI tightening F&O norms. The uptrend in the stock price was witnessed after global brokerage Investec maintained its 'Buy' rating on the discount brokerage and Motilal Oswal said it was well positioned to absorb any impact.
6/11
Shivalik Rasayan | CMP: Rs 614 | Shares of Shivalik Rasayan skyrocketed 8.5 percent after the USFDA gave its approval for the company's API manufacturing facility in Dahej, Gujarat.
7/11
Petronet LNG | CMP: Rs 364 | Petronet LNG rose nearly six percent after Emkay Global Financial Services raised its recommendation to 'Buy' from 'Add'. Additionally, Petronet LNG announced the commissioning of two new LNG storage tanks.
8/11
Oil Marketing Companies | Shares of oil marketing companies took a beating on October 3, with names like BPCL, HPCL and IOCL slipping up to 7 percent on the back of a spike in Brent crude prices. Brent crude prices surged over four percent overnight as geopolitical tensions in the Middle East escalated.
Dabur | CMP: Rs 583.65 | In its Q2 business update, FMCG giant Dabur India said extreme weather events such as floods and heavy rains have impacted consumer demand. As a result, brokerages rushed to slash their target price on FMCG player as a result of its weaker-than-expected performance. Accordingly, the stock fell close to 6 percent.
10/11
Asian Paints | CMP: Rs 3,152 | Asian Paints fell 4 percent after a Macquarie Equity Research report highlighted weak demand trends for paints and adhesives in the second quarter. Other paint stocks fell as well, such as Berger Paints and Kansai Nerolac.
11/11
Suzlon Energy | CMP: Rs 75.75 | Suzlon share price slipped 5 percent after the wind energy player received advisory warning from NSE and BSE for non-compliance with SEBI regulations.
