Markets@10: Federal Bank stocks lose marginally, Kitex Garments gain

The stock market displayed uncertainty today as major indices fluctuated, initially dipping before recovering and eventually stabilising around yesterday's closing levels.

Shares in the metal sector saw a significant rise, driven by expectations that China will expand its stimulus plan. Leading metal companies such as Hindalco, Tata Steel, JSW Steel, SAIL, and Hindustan Zinc all posted notable gains.

Stocks in the auto, pharma, and IT sectors also experienced positive movement, contributing to the overall market recovery.

Federal Bank and Kitex Garments in focus

Shares of Federal Bank fell by more than half a percent following some market adjustments. In contrast, Kitex Garments saw an uptick, with its stock price reaching Rs 667 in the morning.

Citi Research reduced its target price for Bata shares to Rs 1,050, advising investors to sell the stock. P&G Health saw its stock rise by 8% after reporting improved profit and profit margins, boosting investor confidence. Shares of Dhampur Bio fell by 5% due to lower-than-expected earnings and a shift to losses, rather than profits, in its latest financial results.

Tilak Nagar Industries, a major player in the liquor sector, saw its stock increase by 10%. The company expressed confidence that sales would rise by more than 10%, while profit margins would improve in the second half of the year. The company's strong second-quarter results further supported investor optimism.

Shares of JK Paper fell by 5% following a report of narrowed profit margins.

The Indian rupee remained largely unchanged against the dollar, opening at Rs 84.12. In the global commodities market, gold prices dropped to $2,732