PSUs, Auto Stocks, Trent, Skipper, Saregama Surge While Metal Index Was Under Pressure | CNBC TV18

Summary

The market saw a broad rise, with auto stocks performing well, especially tire companies and Mahindra & Mahindra after an upgrade. Metals, however, struggled due to disappointing Chinese stimulus, though some recovered from daily lows. PSU stocks, including railway names, rebounded after a selloff, and several companies like Skipper, Tata Power, and Trent rose significantly on positive news. Paytm saw its best single-day surge since February 2023, turning positive year-to-date. India's market saw significant activity ahead of key board meetings, making it a mixed day with metals as the weak link.

Takeaways

• 🌿 The market saw a blanket of green, indicating a positive day overall.
• 🚗 Auto stocks performed well, with tire companies and Mahindra & Mahindra (M&M) benefiting from upgrades.
• 🔧 Metals underperformed due to disappointing Chinese stimulus, though many stocks in the Nifty Metal Index recovered from the day's lows.
• 📈 PSU (Public Sector Undertaking) stocks saw a rebound, with railway stocks like PFC and RVNL performing well.
• 💼 Hindustan Construction (HCO) ended 9.5% higher in today's session.
• 🔔 Earnings season is approaching, with plenty of news flow throughout the day.
• 🛍️ Trent shares surged 8%, hitting the 8,000 mark following positive developments.
• ⚡ Skipper and Tata Power also saw gains after positive brokerage commentary.
• 🎵 Saregama jumped 8% following a clarification they issued.
• 💳 Paytm experienced its best single-day surge since February 2023, turning positive on a year-to-date basis.

Q & A

What was the overall sentiment in the market according to the transcript?

The overall sentiment was positive, with a 'blanket of green' as the market performed well after a long time.

Which sector performed particularly well according to Hormas?

The auto stocks performed particularly well, with tire companies and Mahindra & Mahindra (M&M) doing exceptionally well after an upgrade.

What was the reason for the underperformance of metal stocks?

Metal stocks underperformed due to disappointment from the Chinese stimulus, which impacted stocks in line with China’s performance.

How did PSU stocks perform in today's market?

PSU stocks saw a rebound after a selloff, with stocks like R PFC and RVNL performing well after a period of poor performance.

Which stocks had significant gains today and by how much?

Hindustan Construction Company (HCC) ended 9.5% higher, and Trent surged 8%, along with other companies like Tata Power and Saregama, which also saw gains.

What drove the 8% increase in Trent's stock price?

Trent's stock price rose by 8% due to positive market sentiment and performance ahead of the earnings season.

Which company saw its best single-day surge since February 2023?

Paytm saw its best single-day surge since February 2023 and turned positive on a year-to-date basis after an earlier sell-off.

Which stocks performed well due to volumes in today's trading session?

Stocks like Paytm, IndiaMART, and Varun Beverages performed well due to strong volumes in today's trading session.

What was the performance of metal stocks by the end of the day?

While metal stocks initially underperformed, most of them recovered from their lows by the end of the day.

What is expected to happen tomorrow for Varun Beverages?

Varun Beverages has a board meeting tomorrow regarding fundraising, which could impact its stock performance.