## Market Volatility, L&T & Dabur Q2 Results, India-China Disengagement: Your News Wrap for October 30
Market in the Red, But Mid- and Small-Caps Shine
After a couple of days of gains, Indian markets struggled to maintain their upward momentum on Wednesday, October 30. Both the Sensex and Nifty closed the session in negative territory, with the Nifty 50 ending at 24,340, down 0.51%, and the Sensex closing at 79,942, down 0.53%. However, mid- and small-cap indices continued their winning streak for the third consecutive trading session. This divergence in performance suggests a mixed sentiment among investors, with some seeking out smaller companies while others remain cautious about the broader market.
L&T and Dabur Report Mixed Q2 Results
Infrastructure giant Larsen and Toubro (L&T) reported a solid 5% rise in consolidated profit after tax to ₹ 3,395 crore for the September 2024 quarter, driven by higher income. This marks an increase from ₹ 3,223 crore in the corresponding period last year. Meanwhile, Dabur Ltd saw its consolidated net profit fall by 17.5% year-on-year to ₹ 425 crore in the second quarter of FY25, compared to ₹ 515.05 crore in the same period last year. This decline in profits can be attributed to various factors, which are likely to be detailed in the company’s earnings release.
India and China Complete Disengagement in Ladakh
Positive news emerged from the India-China border situation as both countries completed disengagement in the Depsang and Demchok areas of Ladakh. This development marks a significant step forward in resolving the long-standing border tensions. The Indian Army sources have stated that coordinated patrolling will commence soon by both sides. Ground commanders will continue to hold talks, and an exchange of sweets is planned for Diwali, signifying the positive direction in the relationship between the two countries.
Kamala Harris Delivers Closing Argument in US Election
In the US, Democratic presidential nominee Kamala Harris delivered a passionate closing argument at the Ellipse on Tuesday night. She urged undecided voters to move beyond the turbulent presidency of Donald Trump and embrace a future of unity and progress. Her speech focused on the importance of moving away from the division and chaos that characterized Trump’s term in office. Harris’s closing argument aims to solidify her position as a leader who can bring about a new era of healing and prosperity in the US.
Diwali Muhurat Trading: A Time for Optimism and Strategy
As Diwali approaches, investors are gearing up for the annual Muhurat trading session, a one-hour window for stock trading on the NSE and BSE on Diwali day. This year, it will be held between 6 pm and 7 pm on November 1. While Muhurat trading is considered auspicious, it’s essential to approach it with a long-term perspective, reevaluate portfolios, and focus on quality stocks. Investors should understand that market volatility can persist during this period.
Deepak Fertilisers and Petrochemicals Corporation Stock Reaches Near One-Year High
The share price of Deepak Fertilisers and Petrochemicals Corporation has been on a roll, rising 9-10% in the last two trading sessions. The stock reached near its one-year high on Tuesday and closed at ₹ 1216 on the BSE on Wednesday. The recent surge in the company’s stock price suggests a strong positive sentiment surrounding the company’s performance and future prospects.
Stay Tuned for More News Updates
This news wrap covers key developments, but the world is constantly changing. Stay tuned for more updates, analysis, and insights on the latest news and events that shape our world.
