Page 5 - Divi Lab News Today

Indian equities are poised to enter 2024 on a buoyant note. Given that it is an election year, it will have a significant bearing on sentiment in the market

Trend in the broader market also remained exuberant as the Nifty Smallcap 100 and Nifty Midcap 100 indices gained over one percent respectively.

The breakout zone, coinciding with a bullish gap at 19,580-19,500, is viewed as robust support, and prices also defended the 19,700 level during the week, serving as immediate support.

Get latest articles and stories on Business at LatestLY. Closing at 65,940.27, the Sensex experienced a decline of 36.57 points, while the Nifty ended 6.00 points lower at 19,790.55. Within the Nifty companies, 19 witnessed advances, but 31 showed declines. Business News | Market Volatility Persists: Stocks End in the Red After Initial Highs.

Following a promising start to the trading day, Indian stock indices faced fluctuations and ultimately closed in the red on Friday.

In the second quarter of FY24, the Pharma stocks saw strong revenue growth of 14.3% year-over-year and 1.7% quarter-over-quarter

Divis Lab, HCL Tech, Wipro, LTIMindtree and Hindalco were the top Nifty gainers, while the laggards included M&M, SBI Life Insurance, Adani Enterprises, Bajaj Finance and Ultratech Cement.

Get latest articles and stories on Business at LatestLY. At the closing bell, the BSE Sensex reported a dip of 139.58 points, settling at 65,655.15, while the NSE Nifty declined by 37.80 points, closing at 19,694.00. Business News | Market Rollercoaster: Sensex and Nifty Navigate Fluctuations, Conclude in the Red Amid Global Market Uncertainties.

Rise in input costs, inventory write-off, and pricing pressures led to a drop in gross margins. Higher competitive pressures led to cuts in operating profit margins and earnings estimates for FY24 and FY25. Most brokerages have a neutral or a reduce rating on the stock on account of valuations.

Equity benchmark indices opened with cuts on Monday as investor focus shifted to the October CPI inflation data