Closing Bell: Weekly Gains Continue
The last two trading sessions of a record breaking week were subdued for India's equity markets. Yet, they managed to register their second straight weekly advance.
The S&P BSE Sensex ended 0.2% higher at 43,443 while the NSE Nifty 50 index gained 0.2% to end at 12,719. The benchmark indices gained in four out of the five trading sessions this week and are up for nine out of the 10 trading sessions of the month.
For the week, both Sensex and Nifty ended with gains of over 3.5%.
For today's session, it was Pharma, Metals and Realty that led the gains. The Nifty Metal index ended 1.6% higher while the Nifty Pharma and Nifty Realty index gained over 1% each, as did the PSU Bank index. The Media index, though ending off the day's low, was the top sectoral laggard, ending 1% lower.
Broader markets outperformed for the second day in a row. THe Nifty Midcap index gained 1% while the Smallcap index ended with gains of 0.8%.
India volatility index ended 4.2% lower, ending at 19.75.
The outperformance of the broader markets led to the market breadth being in favour of the gainers. 1,123 stocks on the NSE ended with gains while 711 stocks declined.
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Markets At 2:10 P.M.
- Benchmark indices continue to swing between gains and losses
- Nifty up 0.1% at 12,711
- Sensex up 0.2% at 43,419
- Nifty Bank recovers 700 points from the day's low; up 0.5% at 28,413
- Nifty Midcap index up 0.5%
- Nifty Smallcap index up 0.7%
- India Volatility Index down 3.3% to 19.93
- Nifty Metal, Nifty Pharma and Nifty Realty indices up 1% each
- Nifty Media is the only sectoral laggard; down 1.5%
- Eicher Motors remains the top Nifty gainer; up 7.3%
- Larsen & Toubro is the top Nifty laggard; down 3%
- 1,109 stocks on the NSE are trading with gains while 710 decline
Eicher Motors Shares At Two-Year High
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Markets At Noon
- Benchmark indices fluctuate between gains and losses
- Nifty unchanged at 12,691
- Sensex down 20 points at 43,337
- Nifty Bank down 0.7% at 28,070
- Nifty Midcap index up 0.3%
- Nifty Smallcap index up 0.6%
- India Volatility Index down 2.2% to 20.1
- Nifty Media remains the top sectoral laggard; down 1.5%
- Nifty PSU Bank index down 1.2%
- Nifty Pharma and Nifty Realty up 0.7% each
- Eicher Motors remains the top Nifty gainer; up 6.9%
- Tata Motors is the top Nifty laggard; down 2.6%
- 1,043 stocks on the NSE are trading with gains while 724 decline
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Stock Recommendations This Diwali
Markets At 10:10 A.M.
- Benchmark indices decline for the second straight day
- Nifty down 0.3% at 12,649
- Sensex down 0.3% at 43,216
- Nifty Bank down 1.6% at 27,830
- Nifty Midcap index down 0.2%
- Nifty Smallcap index up 0.4%
- India Volatility Index down 1.5% to 20.3
- Nifty Media Index is the top sectoral laggard; down 2%
- Nifty PSU Bank index declines 1.7%
- Nifty Pharma and Nifty Realty buck the trend; up 0.9% each
- Eicher Motors is the top Nifty gainer; up 4.1%
- IndusInd Bank is the top Nifty laggard; down 3%
- 909 stocks on the NSE trade with gains while 775 decline
Stock Reaction: Indiabulls Real Estate
Shares of the company are up for the second straight day, after a 14% jump on Thursday.
Rakesh Jhunjhunwala's Rare Enterprises acquired 1.1% stake in the company on Thursday, in a large deal, as per data available on the exchanges.
50 lakh shares were acquired by Rare Enterprises at Rs 57.73 per share. Morgan Stanley Asia sold 1.67% stake in the company at Rs 57.16 per share.
Shares gained as much as 16% to Rs 63.9 and are trading at a two-month high.
Opening Bell: A Subdued Start
Indian equity markets have begun trading on the final trading day of the week on a subdued note, contrary to futures pointing towards a gap down open.
The S&P BSE Sensex opened 0.1% lower while the NSE Nifty 50 index declined 0.25% at the start of trading. As of closing on Thursday, both Sensex and Nifty were up 3% for the week.
Most sectoral indices have opened with a negative bias. Both Nifty Bank and the PSU Bank index have opened 0.6% lower while the Metal index is down 0.4%.
The Pharma and Realty indices have opened higher with gains of 0.4% each.
Broader markets are little changed with both Midcap and Smallcap index barely moving in either direction from Thursday's closing levels.
804 stocks on the NSE have opened with gains while 794 are declining.
Current Market Update
Second Day Of Losses Likely
Good Morning!
Firstly, here's wishing all the readers of BloombergQuint a very happy Dhanteras, a happy diwali and a joyous and prosperous new year!
For the markets, the eight-day winning run of India's benchmark indices came to an end on Thursday. This was the first such instance in the month of November when the S&P BSE Sensex and the NSE Nifty 50 ended with losses.
Futures are indicating that the losses may extended for the second day. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.8% to 12,648 as of 8:05 a.m.
Nifty companies like Grasim and Eicher Motors will be reacting to their quarterly results today that were reported after market hours on Thursday. Also reacting to results will be broader market names like Sun TV, Mahanagar Gas, Phoenix Mills among others.
ONGC and Tata Steel are the two index names coming out with results today. Non-index names reporting results today include Apex Frozen Foods, Equitas Holdings, Graphite India, Sunteck Realty, Valiant Organics and Indiabulls Real Estate.
Asian markets are following their U.S. peers lower on the final trading day of the week. Benchmarks in Japan, Australia and China are trading lower. Futures on the Dow Jones are trading lower by 100 points. The index along with the S&P 500 fell 1% each on Thursday.
West Texas Intermediate crude fell 1.2% to $40.62 per barrel.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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