Equity indices opened higher on Thursday morning, recovering from the significant drop the previous day. The BSE Sensex was trading at 77,753, up by 0.15%, while the Nifty 50 saw a notable gain of 52 points, or 0.22%, in early trading.
The Sensex and Nifty50 are expected to start lower today, influenced by mixed global market signals. Early indications from GIFT Nifty, which opened at 23,640 with a slight decline of 0.18%, point towards a flat to slightly negative opening for the Indian stock markets.
On Wednesday, the Indian stock market faced a steep decline, extending its losing streak for the fifth consecutive session as heavy selling pressure persisted. The benchmark indices saw significant drops, with the Nifty tumbling 324 points to close at 23,559, while the Sensex plunged 984 points, ending the session at 77,691.
Broader market indices also closed in the red, with Nifty Smallcap100 and Nifty Midcap100 experiencing sharp declines of 2.96% and 2.64%, respectively. Sector-wise, auto and metal stocks were among the hardest hit, with major companies like Hero MotoCorp, Hindalco, Tata Steel, Mahindra & Mahindra posting notable losses.
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Nov 14, 2024, 2:23 pm IST
Stock Market Live Updates: Trade Deficit Announced
India's trade deficit stood at .14 billion in October 2024, narrowing from deficit of .43 billion in the same month a year ago. Exports stood at .20 billion, while imports stood at .34 billion.
Nov 14, 2024, 2:05 pm IST
Garden Reach Shipbuilders Shares Gain After Strong Q2 Profit Growth
Garden Reach Shipbuilders' shares saw an uptick following the company’s strong Q2 performance, with profit rising 21.1% to Rs 97.8 crore compared to Rs 80.7 crore in the same quarter last year. The company's revenue also posted a significant growth of 28.4%, reaching Rs 1,153 crore from Rs 897.9 crore, year-on-year.
Dilip Buildcon shares dropped 4% even though the company reported a remarkable 263.2% year-on-year increase in consolidated net profit for Q2, reaching Rs 265.9 crore compared to Rs 73.2 crore. The profit boost was partly driven by an exceptional gain of Rs 158.4 crore, up from Rs 89.3 crore in the same period last year. However, the company's revenue fell by 13.6%, totaling Rs 2,461.3 crore versus Rs 2,848.7 crore year-on-year.
Nov 14, 2024, 12:35 pm IST
SpiceJet Shares Soar 4% After Settling .8 Million Dispute with EDC
SpiceJet shares surged over 4% on November 14 following news that the airline had successfully resolved a .8 million dispute with Export Development Canada (EDC) by agreeing to a settlement of .5 million. This settlement, which gives SpiceJet full ownership of 13 Q400 planes, will result in substantial savings of .3 million (₹574 crore). In a statement released Thursday, the airline confirmed it had "fully settled a .8 million (₹763 crore) dispute with Export Development Canada (EDC) for a total of .5 million."
Nov 14, 2024, 11:42 am IST
Apollo Tyres Shares Gain 4% Despite Sharp Profit Dip in Q2
Apollo Tyres shares climbed 4% despite a 37.3% year-on-year decline in consolidated net profit for Q2, which fell to Rs 297.5 crore from Rs 474.3 crore. Meanwhile, the company saw a modest revenue increase of 2.5%, reaching Rs 6,437 crore compared to Rs 6,279.6 crore in the same period last year.
Nov 14, 2024, 11:23 am IST
HEG Shares Edge Up Despite Q2 Profit and Revenue Decline
HEG shares traded higher following the company's Q2 earnings report, despite a 14.3% year-on-year drop in profit to Rs 82.3 crore, down from Rs 96 crore. Revenue also saw a decline, slipping 7.6% to Rs 567.6 crore compared to Rs 614.2 crore in the same period last year.
Nov 14, 2024, 10:36 am IST
Torrent Power Shares Decline 3% as Q2 Profit Falls Despite Revenue Growth
Torrent Power shares dropped by 3% after the company reported an 8.5% year-on-year decline in consolidated net profit for Q2, reaching Rs 481 crore compared to Rs 525.9 crore in the same period last year. Despite the profit dip, Torrent Power saw a 3.1% rise in revenue, with Q2 earnings at Rs 7,175.8 crore, up from Rs 6,960.9 crore year-on-year.
Nov 14, 2024, 10:34 am IST
Inox Green Energy Approves Demerger of Power Evacuation Business
Inox Green Energy's board has given the green light for the demerger of its power evacuation business, which will now be managed by Resco Global Wind Services.
Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announced its financial results for the second quarter & half year ended September 30th, 2024. Total Income for the Q2 FY25 stood at ₹1,228 Crore against ₹969 Crore in Q2 FY24 with growth of 27%. Revenue from Operation has increased to ₹1,153 Crore in Q2 FY25 from ₹898 Crore in Q2 FY24, registering a growth of 28 % • The Earnings before Interest, Tax, Depreciation and Amortization stand at ₹144 Crore in Q2 FY25, as against ₹120 Crore in Q2 FY24, with an increase of 20% • Profit Before Tax (PBT) is ₹131 Crore for Q2 FY25 as compared to ₹107 Crore in Q2FY24, registering a growth of 22% • Profit After Tax (PAT) is ₹98 Crore in Q2 FY25 as against ₹81 Crore in Q2 FY24, registering a growth of 21%
Agarwal Industrial Corporation Limited, a private-sector Bitumen Logistics Company, today announced its financial results for the quarter ended September 2024, showcasing robust performance across key business segments. Revenue reached Rs. 1,033.38 Crores, up by 20.07% from Rs. 860.67 Crores. Net Income stood atRs. 57.45 Crores, reflecting growth of 31.79%. Earnings per Share recorded at Rs. 38.40, marking a 31.78% increase .EBITDA amounted to Rs. 98.72 Crores,a year-over-year rise of 39.43% .CashFlowfrom Operations reached Rs. 67.54 Crores, up significantly by 321.86% from Rs. 16.01 Crores in the previous period.
Nov 14, 2024, 9:30 am IST
Sensex And Nifty Today
Sensex today opened higher up 73.70 points or 0.09 percent at 77,764.65, and the Nifty 50 at 23,594.80 up by 35.80 points (0.15%)
Nov 14, 2024, 9:11 am IST
Rupee Opens at 84.41 as Dollar Index Hits Year-High
The Indian Rupee opened at 84.41 per dollar on Thursday, while the U.S. Dollar Index rose to 106.64 in Asia, which is its highest level in a year.
Nov 14, 2024, 8:57 am IST
Oil Prices Slip Amid Strong Dollar
Oil prices experienced a slight decline early on Thursday as concerns over rising global production and weak demand growth weighed on the market.The strengthening of the U.S. dollar has played a role in keeping oil prices in check. The U.S. dollar index is currently trading above 106, which has contributed to the subdued movement in crude prices. As of now, crude oil is down 0.32%, Brent crude has fallen 0.34%, and natural gas prices have decreased by 0.55%.
Nov 14, 2024, 8:48 am IST
Asian Markets Trends On Thursday
Japan’s Nikkei 225 gained 0.42%, with the Topix up 0.59%. Australia’s S&P/ASX 200 advanced by 0.38%. South Korea’s Kospi increased by 0.27%, while the Kosdaq added 0.59%. In Hong Kong, the Hang Seng Index edged up 0.15%, but mainland Chinese indices struggled, as the CSI300 fell by 0.36% and the Shanghai Composite slipped 0.09%. The regional market sentiment was influenced by U.S. inflation data for October, heightening expectations of a possible Fed rate cut in December.
Nov 14, 2024, 8:39 am IST
US Stocks Offer Mixed Signals
The Dow Jones ended the session at 43,958 up by 47.21 points while the S&P 500 closed at 5,985 up by 0.02%, showing no significant movement, while the Nasdaq dipped 0.26%, retreating over 100 points from its peak earlier in the day. Fresh data for October indicated consumer prices rose in line with expectations, bolstering investor sentiment that the U.S. Federal Reserve could cut interest rates in December.
Nov 14, 2024, 8:34 am IST
Markets the previous Day
The Indian stock market faced intense selling pressure on wednesday as benchmark indices Nifty 50 and Sensex fell sharply for the fifth consecutive session. The Nifty 50 breached critical support levels, slipping into correction territory by losing over 10% from its record high of 26,277.35 reached on September 27. The NSE Nifty 50 declined by 324 points, closing at 23,559, while the Sensex dropped 984 points to settle at 77,691. The Nifty Bank index also faced a significant blow, falling 1,069 points to 50,088
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