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In the Nifty200 pack, three stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on October 16, according to stockedge.com's technical scan data.
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News and Media
Today, 38 companies announce their Q2 FY24 results, including Infosys, Wipro, Axis Bank, and Nestle India. Infosys is poised for healthy growth driven by mega-deals, whereas Wipro may see a revenue decline. Axis Bank is expected to boost net profit by 8% with rising NII, and Nestle India projects a 5-7% revenue uptick.
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Benchmark Sensex fell by 318 points and Nifty slipped below 25,000 on Wednesday due to foreign fund outflows and weak global trends. Stocks in focus were Bajaj Auto, LTTS, and BSE. Bajaj Auto saw a slight rise, LTTS faced bearish pressure, while BSE shares declined significantly. Analysts suggest various actions for investors.
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