Sensex Nifty in sharp fall in stock market last week.. Substantial rise in gold price due to volatility in stock market.
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| Stocks vs gold market |
The stock market experienced a sharp decline last week
The market was also volatile as the sixth session on Thursday (October 26) marked the last day of futures and options (F&O) contracts for the October series. The S&P BSE Sensex fell 901 points, or 1.41 percent, to settle at 63,148.15, while the NSE Nifty slipped below the 18,900 level, down 64.9 points, or 1.39 percent, to close at 18,857.25.
M&M, Bajaj Finance, Asian Paints were the top losers in the 50-scrip blue-chip basket.
M&M, Bajaj Finance, Asian Paints and UPL were the top losers. The Nifty basket fell nearly 4-3 percent amid broad-based weakness. On the other hand, Axis Bank, Adani Ports and HCL Tech posted higher gains.
Are CIE Automotive, VPRPL, MRPL stocks profitable, CIE Automotive shares can be bought at Rs 475 with a stop loss of Rs 445. Share market experts suggest that VPRPL shares can be bought at Rs.205 and MRPL shares are also profitable.
Asian Paints
Asian Paints on Thursday (October 26) announced its September quarter results, showing a 53.31 per cent jump in profit after tax to Rs 1,232.39 crore from Rs 803.83 crore in the corresponding quarter last fiscal.
Axis Bank Shares Shares of private sector bank Axis Bank ended in the green on Thursday (26 October 2023). The bank made a profit of Rs 5864 crore in the second quarter. After this, interest in buying shares of Axis Bank is increasing.
Shares of Axis Bank have gained around 11 percent in the last 6 months, and today the bank's share price rose 1.89 percent to close at 973.55.
Axis Bank: 1250 next target
CLSA advised to buy from Axis Bank. A target of Rs 1200 per share has been fixed. Net interest margin is forecast to be flat in the September quarter.
Gold price
Today, 26th October 2023, 10 gm 24 carat gold price in India is Rs 52,785 and 10 gm 22 carat gold price is Rs 47,750. The price of jewelery gold in Chennai has gone up to Rs 360 per bar today. The price of one bar of gold is Rs 45,600 and the price of one gram of gold is Rs 5700.