Stock Market Today: Sensex, Nifty Close At One-Month Low As Axis, ICICI Bank Drag; FPIs Remain Net Sellers

• Says media reports on raising Rs 10,000 crore via QIP in the coming weeks are "purely speculative" and factually incorrect.

Source: Exchange Filing

• The app will have integrated experience across payments, lending and deposits.

• The app will provide Rs 5 lakh instant line of credit to customers.

• Over 3 lakh customers on boarded on the app after soft launch a month ago.

• No charges for first 10 days of trade.

• IndusInd Bank to also charge zero platform fees for retail stock broking.

Source: IndusInd Bank statement

• Operations at Sikkim's Namthang facility disrupted due to flash floods.

• No loss or harm caused to any personnnel.

Source: Exchange filing

The broader market indices underperformed larger peers; the S&P BSE MidCap Index was down 1.47%, whereas S&P BSE SmallCap Index was also 0.90% lower.

All the 20 sectors compiled by BSE declined, with S&P BSE Realty, S&P BSE Metal and S&P BSE Healthcare falling the most.

The market breadth was skewed in the favour of the sellers. About 1,229 stocks rose, 2,302 declined, while 150 remained unchanged on the BSE.

• Companies sign JV for sale of Superdry's IP assets in India, Sri Lanka and Bangaldesh.

• Reliance Retail's UK unit Reliance Brands Holding will own 76% of JV, Superdry will own 24%.

• The consideration for the sale of the South Asian IP is £40.0 million.

Source: Superdry announcement

• Signs multi-year digital transformation and deal with former Walmart unit Asda.

• Company to provide Asda with new organisation-wide IT operating model.

Source: Exchange filing

• Updater Services lists at Rs 285 apiece on the NSE, 5% discount to IPO price of Rs 300 per share.

• Updater Servces lists at Rs 299.90 apiece on the BSE, 0.03% discount to IPO price of Rs 300 apiece.

Source: Exchanges

HDFC Bank Q2FY24 Update

• Gross advances at Rs 23.54 lakh crore, up 57.7% year-on-year.

• Including transfers through interbank participation, outstanding loans rose 60% from last year.

• Domestic retail loans rose 111.5% year-on-year.

• Non-individual housing loans (from HDFC Ltd) at over Rs 1 lakh crore.

HDFC Bank Total Deposits Rose 30% To Rs 21.73 Lakh Crore As Of Sept 30

• CASA ratio dipped to 37.6% in Q2, compared to 45.4% last year

• Home loan disbursals in July-September quarter at Rs 48,000 crore

(Alert: Figures are provisional)

Source: Exchange filing

• Gets significant order for power business from West Bengal Power Development Corporation.

• To set up wet Flue Gas Desulphurisation systems at thermal power plant in Sagardighi.

• Project includes 3 FGD absorbers catering to 4 thermal power units (2x300 MW, 2x500 MW).

• Alert: L&T classifies orders worth from Rs 1000 crore to Rs 2500 crore as significant

Source: Exchange filing

The broader market indices opened lower; the S&P BSE MidCap Index was down 0.58%, whereas S&P BSE SmallCap Index was also 0.30% lower.

Nineteen out of the 20 sectors compiled by BSE declined, except S&P BSE Fast Moving Consumer Goods.

The market breadth was skewed in the favour of the buyers. About 962 stocks rose, 1,273 declined, while 110 remained unchanged on the BSE.

Source: BSE

• At pre-open the S&P BSE Sensex was down 182 points, or 0.28%, at 65,330.48 while the NSE Nifty 50 was 83 points or 0.42% lower at 19,446.30.

Source: Bloomberg

• The yield on the 10-year bond opened 2 bps higher at 7.25% on Wednesday.

• It closed at 7.23% on Tuesday.

Source: Bloomberg

• The local currency open flat at 83.22 against the U.S dollar on Wednesday.

Source: Bloomberg

• IDFC First Bank launches QIP on October 3, 2023 at base price of Rs 94.95 per share according to the formula prescribed by SEBI.

• Base price according to pricing formula prescribed by SEBI at Rs 94.95 per share.

• Bank may at its discretion offer a discount of not more than 5% on the floor price.

Source: Exchange Filing

Anil Agarwal Says Vedanta To Sell Steel Business By March 2024 To Repay Debt

Stock Market Today: All You Need To Know Going Into Trade On Oct. 4