Top News on Oct 30: Sensex, Nifty tumble, Q2 Results, Kamala Harris’ closing argument, India-China disengagement, more

In today's News Wrap, we have: Benchmark equity indices Sensex and Nifty declined on Wednesday, India and China completes disengagement in Ladakh's Depsang and Demchok, Larsen and Toubro (L&T) and Dabur release Q2 results, and more

Here's your News Wrap, October 30

Diwali 2024 Muhurat trading

Diwali Muhurat trading 2024 is the one-hour window for stock trading in NSE and BSE on Diwali occasion. This year, Muhurat trading session will be held between 6 pm and 7 pm on November 1. Here are some lesser-known facts about the tradition.

The Muhurat trading presents challenges and opportunities. Investors are encouraged to adopt a long-term view, reevaluate portfolios, and focus on quality stocks as they navigate the market's volatility during this auspicious trading session. What should your strategy be for Nifty 50? Tap here to read

Stock market closes in red

After witnessing a relief rally in the last two trading sessions, the Indian market struggled to maintain its upward momentum during Wednesday's trade, October 30, as both frontline indices closed the session in negative territory. Nifty 50 ended the session with a 0.51% dip at 24,340, while the Sensex ended the trade with a drop of 0.53% falling below at 79,942. Both mid- and small-cap indices extend their winning run for the third consecutive trading session. Read more here

L&T Q2 Results

Infrastructure major Larsen and Toubro (L&T) on Wednesday posted a 5 per cent rise in consolidated profit after tax to ₹3,395 crore in the September 2024 quarter on account of higher income. The company's consolidated profit after tax stood at ₹3,223 crore in the year-ago period, L&T said in a regulatory filing. Read more here

Dabur Q2 Results

Dabur Ltd reported an 17.5% year-on-year fall in its consolidated net profit (attributable to owners of the holding co) for the fiscal's second quarter ended September (Q2FY25) to ₹425 crore. The company had reported a profit of ₹515.05 crore in the year-ago period. Sequentially, the consolidated net profit was down 15.02%. Read more here

Deepak Fertilisers and Petrochemicals Corporation stock near 1 year high

Deepak Fertilisers and Petrochemicals Corporation share price that has risen 9-10 % in last two trading sessions. Deepak Fertilisers is trading near 1 year high it scaled on Tuesday. The stock closed at ₹1216 on the BSE on Wednesday. Read more here

India, China complete disengagement in Ladakh’s Depsang and Demchok

The disengagement between India and China in the Depsang and Demchok areas of Ladakh was completed, Indian Army sources said on Wednesday. "Coordinated patrolling to start soon by both sides. Ground commanders will continue to hold talks. Exchange of sweets on Diwali to happen tomorrow," sources told news agency ANI. Read more here

US Election: Kamala Harris makes closing argument, takes aim at Trump’s turmoil

Democratic presidential nominee Kamala Harris delivered a passionate address on Tuesday night at the Ellipse, the same location where former President Donald Trump held his rally before the January 6 insurrection.

Harris urged undecided voters to "turn the page" on Trump's presidency. During her speech, Harris emphasised the need to move away from the turmoil that characterised Trump's time in office, highlighting her commitment to fostering optimism and progress.

She criticised her Republican opponent for promoting division and chaos while in power, seeking to redefine the legacy of the January 6 rally by focusing on the importance of unity and healing. Read more here