Indian markets ended on a bullish note with Sensex nearing 65,000 mark and Nifty 50 crossing over 19,400 levels. Except consumer durables stocks, all other sectoral indices witnessed sharp buying. Realty, healthcare, oil & gas, metal, financials and banking stocks saw substantial buying. Midcaps and smallcaps rallied as well.
Divi's Lab, Eicher Motors, Hero MotoCorp, and L&T were top gainers, while SBI, Hindustan Unilever, Cipla, Tata Motors and Titan were top laggards.
On the market performance, Vinod Nair, Head of Research at Geojit Financial Services, said, "Optimism continued as soft US payroll data and expectations of moderation in monetary tightening by the Fed supported the sentiment. Since most of the headwinds are global in nature, investor sentiment has shifted to domestic-oriented businesses, where festive demand is healthy."
Nair added, "So far, the spread of earnings in Q2 has been decent and brings more attention to capital goods, financials, and auto stocks. We expect H2FY24 will also continue the momentum, however, the tailwinds on margins are likely to moderate due to the recent uptick in commodity prices."
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Nov 06, 2023, 5:02 pm IST
Bank Nifty Closing
Bank Nifty was up by 301.15 points or 0.7% to end at 43,619.40. The index traded between 43,648.70 and 43,415.20 during market hours.
Nov 06, 2023, 5:01 pm IST
Nifty 50 Closing
The index settled at 19,411.75, higher by 181.15 points or 0.94%. The 50-scrip benchmark performed between 19,423.00 to 19,309.70 respectively.
Nov 06, 2023, 5:01 pm IST
Sensex Closing
Sensex ended at 64,958.69, up by 594.91 points or 0.92%. The benchmark traded in the range of 64,992.54 to 64,617.48 during the day.
Nov 06, 2023, 3:23 pm IST
Top 5 Losers Of BSE
Jaiprakash Associates (-10%), Angel One (-8%), Poly Medicare (-7%), Gati (-6%), and Navneet Education (-5.9%).
Nov 06, 2023, 3:23 pm IST
Top 5 Gainers Of BSE
Bajaj Hindusthan Sugar (+17%), Aarti Industries (+11%), Inox Wind (+10.9%), JK Cement (+9%), and Ujjivan Small Finance Bank (+8%).
Nov 06, 2023, 1:29 pm IST
Bharat Forge declares 52% Jump In Net Profit, Shares Rally
Bharat Forge Ltd declared approximately 52% surge in net profit for the September quarter driven by higher volumes in core business and defence business. Consolidated net profit for the quarter declared at Rs 2148.65 crore against Rs 1415.56 crore a year ago. Revenue surged 22.7 percent to Rs 3774.19 crore from Rs 3076.39 crore last year. Shares of Bharat Forge surged 4.23% intraday to 1074.20 apiece.
Nov 06, 2023, 12:29 pm IST
EIH Q2 Profit Soars 321% YoY To Rs 94 Crore
EIH declared its consolidated profit at Rs 94.1 crore for July-September period of FY24, rising sharply by 321% over year-ago period. Consolidated revenue from operations jumped by 32.5% on-year to Rs 552.5 crore during the quarter. Shares of EIH rallied by 5.15% to Rs 233.75 per share today.
Nov 06, 2023, 11:52 am IST
With Oil At USD110 Per Barrel, Will The RBI Go With Rate Hike In Next Meeting?
Morgan Stanley estimates a sustained oil price of 0 a barrel could undermine the world’s third-biggest oil consumer India’s economic stability, likely forcing the RBI to resume hiking interest rates, said a Bloomberg Report.
According to the report, Morgan Stanley’s economists estimate that a increase in oil prices boosts inflation by 50 basis points and contributes to a 30 basis-point widening in the current account balance.
Adani group stocks including Adani Wilmar, Adani Energy, Adani Green Energy, and Adani Enterprises remained in focus on Monday after a news report highlighted that the Gautam Adani group is considering to sell entire 43.97% stake in Adani Wilmar. The Indian conglomerate is reportedly holding negotiations with several multinational consumer goods companies to sell its complete stake in the Adani group firm Adani Wilmar.
India Bond Yields Decline On Weak Handover From US Peers; Seen Rangebound
Indian government bond yields declined on Monday on weak cues from the US Treasury yields after job growth in the world's largest economy slowed more than expected in October, reinforcing expectations that the Federal Reserve will not raise rates further.
According to Reuters, The 10-year India benchmark bond yield was at 7.3013% as of 10:10 a.m. IST, after ending at 7.3140% in the earlier session.
Nov 06, 2023, 10:27 am IST
L&T Construction Secures Contract Worth Rs 2,500 Crore To Rs 5,000 Crore To Construct Bhogapuram International Airport, Stock Rises
L&T informed via an exchange filing on Monday that the Buildings & Factories & Transportation Infrastructure businesses of L&T Construction have secured a prestigious project from the GMR Visakhapatnam International Airport Limited for the Engineering, Procurement, and Construction of the greenfield Bhogapuram International Airport at Bhogapuram, Andhra Pradesh.
The project will initially be developed to handle 6 MPA (million passengers per annum) capacity to be further enhanced to a capacity to handle 12 MPA.
Today, the share price of Larsen & Toubro was spotted trading 1.65% higher at Rs 2956.10 per share at 10:22 am IST.
Nov 06, 2023, 9:58 am IST
IndiGo Shares Surge Following Strong Q2 Performance
IndiGo's shares are experiencing a third consecutive day of gains, rising by 1.8% after the airline reported impressive second-quarter results. The company's net profit stood at Rs 188.9 crore, a significant turnaround from the previous year's Rs 1,583.3 crore loss. Additionally, revenue increased by 19.6% to reach Rs 14,943.9 crore, and EBITDA soared to Rs 2,446.4 crore from Rs 229.2 crore in the previous year. IndiGo's load factor also improved by 4.1%, reaching 83.3%. The airline is now set to expand capacity by 25% in the December quarter, contributing to its stock's 25.1% gain this year.
Nov 06, 2023, 9:53 am IST
Mankind Pharma Sees 2% Decline As Shareholder Lock-In Expires
Shares of Mankind Pharma have dipped by 2% for the second consecutive day as the company's one-year shareholder lock-in period ends today, November 6. The conclusion of this lock-in period marks the release of 70% of the company's outstanding equity for trading. Despite this recent drop, the stock has exhibited a strong performance, with a 22.1% gain over the course of the year.
Nov 06, 2023, 9:37 am IST
Bank of Baroda Witnesses 3% Decline In Share Price
Bank of Baroda's shares have slipped by 3.3%, ending a two-day upward trend. Despite the drop in share value, the bank reported robust financial results for the quarter ending September 2023. Operating profit increased by 33% to Rs 8,020 crore compared to the previous year, and profit after tax reached Rs 4,253 crore, up from Rs 3,313.4 crore in the same period last year.
Nov 06, 2023, 9:34 am IST
Zomato Hits 52-Week High With 3% Gain
Zomato continues its upward trajectory, marking its third consecutive day of gains with a 3% increase in its shares. The stock is currently hovering around its 52-week high of Rs 121.9, attained earlier today. Notably, Zomato has surged by an impressive 97.2% year-to-date.
Nov 06, 2023, 9:29 am IST
Market Opens With Healthy Gains, Nifty Above 19,300
As the trading day commenced on November 6, Indian indices showed a positive trend. The Sensex surged 309.89 points or 0.5% to reach 64,673.67, while the Nifty advanced 92.40 points or 0.5% to stand at 19,323. Among the Nifty stocks, Hindalco Industries, Adani Enterprises, Hero MotoCorp, Coal India, and JSW Steel registered significant gains, with HUL being the sole loser. The day saw 1,784 shares on the rise, 411 in decline, and 159 maintaining their status quo.
Nov 06, 2023, 9:11 am IST
Rupee Opens 16 Paise Stronger Vs Previous Close
The Indian Rupee opened with gains of 16 Paise at 83.13 per US Dollar compared tp Friday's clos of 83.29 each Dollar.
Nov 06, 2023, 9:01 am IST
Shipping Corp's Financial Performance Draws Attention Today
Shipping Corporation of India is in highligt following its financial report revealing a 42.6% decrease in net profit to Rs 66 crore and a 23% drop in revenue to Rs 1,093.2 crore compared to last year. Additionally, EBITDA is down by 27.2% year-on-year, causing a 120 basis point reduction in the margin, now standing at 21.6%.
Nov 06, 2023, 8:58 am IST
Asian Markets Start The Week With Strong Gains
Asian markets have started the week on a positive note after a soft monthly jobs report from the US on Friday. The Nikkei 225 in Japan is up by 2%, returning from a long weekend, while the Topix has gained 1.5%, reaching a one-month high. South Korea's Kospi is up by 2.1%, and the Kosdaq has surged by over 3.5%. Futures on the Hang Seng are also indicating a strong start to the trading day in Hong Kong.
Nov 06, 2023, 8:13 am IST
GIFT Nifty Indicates a Positive Start For Indian Market
The GIFT Nifty is trading with a premium of more than 100 points from Nifty Futures Friday close, indicating a start with healthy gains for the Indian equity market. Nifty to likely open above 19,300.
Nov 06, 2023, 8:10 am IST
Market Optimism Rekindles, Nifty Likely To Open Above 19,300
After a tumultuous week, the Nifty 50 index staged a remarkable recovery, breaching the crucial resistance level of 19,200. This resurgence signifies a renewed sense of confidence in the Indian stock markets, following a period of uncertainty. Boosted by favorable earnings reports and supported by HDFC Bank's stellar performance, the Nifty 50 marked its first close above 19,200 since October 23.
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