The brokerage firm Sharekhan has released its list of top stock recommendations for Diwali 2024, covering a mix of largecap and midcap companies.

Adani Group’s Ambuja Cement announced its plan to acquire a 46% stake in Orient Cement from its promoters and through placements

Some speculate that a Kamala Harris presidency could increase the deficit, potentially raising interest rates and pushing up the dollar, which might lead to gold price increase

On the technical front, momentum indicators continue to suggest a bearish outlook, with the Nifty trading below its short- and medium-term moving averages

The Nifty 50 ended the trading session with a drop of 0.29%, closing at 24,781; the Sensex finished the trading day closing at 81,151, down by 0.09%.

Comments from the finance minister and Chinese central bank governor have stirred the metals market, while crude oil prices have declined due to reduced demand

However, the formation of a white candle on the daily chart, along with a close above  the previous session’s level, indicates a slight positive bias

The Grey Market Premium (GMP) for Hyundai Motors indicates a downward trend ahead of its listing next Tuesday, potentially leading to a flat debut.

Shares of Manappuram General Finance dropped by 15.5 percent this morning after the Reserve Bank banned its subsidiary, Asirvad Micro Finance, from issuing loans

Concerns about declining bank profitability also remain, but analysts suggest the market could recover if a Diwali stimulus like an interest rate cut is announced.