On October 11, 2024, the Indian stock market experienced notable fluctuations, with the Sensex dropping 230 points to close at 81,381.36, while the Nifty fell by 34 points to end at 24,964.25.
In corporate news, Sanofi's shares fell by 2.23% after the company entered negotiations to sell a 50% stake in its consumer health unit, Opella.
Meanwhile, Sudarshan Chemical Industries' shares rose by 2.50% following their acquisition of the Global Pigment Business Operations from Heubach Group for €127.5 million.
Additionally, Bandhan Bank's shares surged over 10% after the Reserve Bank of India approved the appointment of its new CEO, enhancing management stability.
Trent, Hindalco, and HCL Tech were among the top gainers on the Nifty, while TCS and M&M were among the major losers. The market saw 2,077 stocks advancing against 1,785 declining, reflecting mixed investor sentiment.
Furthermore, the number of demat accounts in India has risen to 175 million as of September 2024, indicating increasing retail participation in the stock market.
In mutual funds, Motilal Oswal launched a new 'Digital India Fund', targeting long-term capital appreciation in the technology and telecom sectors, with the NFO period running from October 11 to October 25, 2024.