NIFTY Financial News

Indian Stock Market: Metals stocks remained in focus and Nifty metal index was up more than 1% with gains being led by NMDC share price that were up almost 6% . National Aluminium Company share price (NALCO) also gained more than 4% while Hindustan Copper share price was also up almost 2% . The decision by the central government approving royalty rates of 3% each for lithium and niobium and 1% for Rare Earth Elements (REEs) lifted Street sentiments.

Godrej Consumer Products Ltd. traded 1.16 per cent down at Rs 974.4 on Thursday at around 01:44PM (IST), while the benchmark BSE Sensex declined 15.16 points to 66457.89. As many as 5,094 shares changed hands on the counter with a total value of Rs 0.5 crore.

Bajaj Holdings & Investment Ltd. fell 0.86 per cent to Rs 6823.05 in Thursday's trade as of 01:34PM (IST) even as the benchmark Nifty ruled at 19809.8, down 1.55 points. The scrip had closed at Rs 6882.55 in the previous session.

rupee stayed on the upward track for the third day in a row, appreciating by 4 paise to 83.14 against the US dollar in early trade on Thursday amid easing crude oil prices and a weak American currency. Subdued sentiments in the domestic equity markets and concerns over foreign funds withdrawal capped a sharp gain in the Indian currency, forex analysts said. At the interbank foreign exchange, the rupee opened at 83.17 and then traded between the range of 83.13 to 83.17 against the greenback.

Tata Consultancy Services (TCS) was also a part of this recovery. The stock has gained almost 15 percent in the last 1 year and 9 percent in 2023 YTD. In comparison, the Nifty IT index has gained over 16 percent in the last 1 year and over 12 percent in 2023 YTD.

The NSE Nifty index was trading 4.9 points up at 19816.25, while BSE Sensex was up 12.0 points at 66485.05 at the time of writing this report. In the Nifty index, Coal India Ltd.(up 2.02 per cent), Bharat Petroleum Corporation Ltd.(up 1.69 per cent), Maruti Suzuki India Ltd.(up 1.56 per cent), Hindalco Industries Ltd.(up 1.35 per cent) and NTPC Ltd.(up 1.26 per cent) were among the top gainers.

Federal Bank Ltd.(up 2.21 per cent), IndusInd Bank Ltd.(up 0.97 per cent), Axis Bank Ltd.(up 0.91 per cent), Bandhan Bank Ltd.(up 0.84 per cent) and Punjab National Bank(up 0.65 per cent) were among the top gainers. IDFC First Bank Ltd.(down 0.54 per cent), Kotak Mahindra Bank Ltd.(down 0.4 per cent) and HDFC Bank Ltd.(down 0.33 per cent) were the top losers on the index.

Domestic benchmark index NSE Nifty fell 2.65 points to 19814.0, while the BSE Sensex traded 11.03 points down at 66462.02. On the other hand, Sical Logistics, MMTC, MOIL, GHCL Textiles and TPL Plastech stocks hit their fresh 52-week highs today.

Franklin Templeton India fund is turning to initial public offerings to help keep it in the top ranks of the nation’s mutual funds as rich valuations have made it hard to pick winners among small-cap stocks. The $1.2 billion Franklin India Smaller Companies Fund is up 34% this year, beating 98% of its peers. The fund’s IPO picks — Concord Biotech Ltd., TVS Supply Chain Solutions Ltd.

Infosys, SBI, and HDFC Bank. The BSE Sensex was trading 60 points or 0.09% higher at 66,532. Nifty50 was trading at 19,832, up 21 points or 0.11% at around 9.20 am. From the Sensex pack, IndusInd Bank, Tata Motors, SBI, NTPC, and Axis Bank opened with gains, while TCS, Tech Mahindra, Bajaj Finance, and Bharti Airtel opened with cuts. TCS fell over 1% in the early trade after India's top IT firm reported weaker-than-expected second-quarter revenue and flagged weakness in client spending.

BSE Sensex closed 393.69 points higher at 66,473.05, while the broader NSE Nifty 50 climbed 121.50 points to 19,811.35. Nifty 50 formed a reasonable bullish candle on the daily chart with minor upper shadow indicating an upside continuation pattern. Also Read: 5 things that changed for the stock market overnight - Gift Nifty to US Fed meeting minutes “Nifty witnessed minor upside breakout of the immediate resistance of around 19,700-19,750 levels, with gap up opening and the present upside gap could be considered as a bullish breakaway gap.

Day trading guide for today: On account of positive strong global cues, Indian stock market ended higher for second straight session on Wednesday. Nifty 50 index gained 121 points and closed at 19,811 levels, BSE Sensex shot up 393 points and ended at 66,473 mark whereas Bank Nifty index added 156 points and finished at 44,516 levels. In broad market, small-cap index went up 0.77 per cent whereas mid-cap index gained 0.55 per cent.

Indian markets are likely to open on a positive no... moreIndian markets are likely to open on a positive note on Wednesday following gains in global peers as investors awaited the US consumer inflation numbers and Treasury yields continued to retreat.

GIFT Nifty on the NSE IX traded 16 points, or 0.08 per cent, higher at 19,846, signaling that Dalal Street was headed for positive start on Thursday. Here's a slew of stocks that will be in focus today for various reasons. TCS IT major TCS reported 9% growth in its net profit to Rs 11,342 crore.

Market rallied for a second straight day on Wednesday after strong quarterly business updates from several corporates and also easing inflation concerns. With the start of earnings season, analysts expect stock-specific action as well as sectorial rotation in the market. The IT sector would be in focus with TCS announcing its results post-market Wednesday, while Infosys and HCL Tech earnings are due later today. «Going forward, we expect the market momentum to continue on the back of positive global cues, easing of US bond yields, and strong domestic economic position,” said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a positive start GIFT Nifty on the NSE IX traded higher by 16.5 points, or 0.08 per cent, at 19846.50, signaling that Dalal Street was headed for positive start on Thursday.

₹1,032 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹12,526.94 crore of Indian equities, while they sold ₹12,948.71 crore --- resulting in an outflow of ₹421.77 crore on Wednesday.

clocking gains of 3.04 per cent in September 2023. According to a report by domestic brokerage firm Motilal Oswal titled ‘Global Market Snapshot’, Nifty Smallcap 250 rose 2.51 per cent last month.

Domestic benchmark index NSE Nifty ended 121.5 points up at 19811.35, while the BSE Sensex closed 393.69 points up at 66473.05. On the other hand, Yash Pakka, AdityaBirlaMoney, Uniinfo Telecom Serv, Mukta Arts and Adhunik Industries stocks hit their fresh 52-week highs today.

On the BSE, Abans Enterprises (down 12.50 per cent), Gravity(India)(down 11.66 per cent), JLAInfraville&Shop(down 10.00 per cent), Leading Leasing Fin(down 9.94 per cent) and Mafia Trends(down 8.76 per cent) stood among the top losers in today's trade. In the Nifty pack, 39 stocks closed in the green, while 11 stocks ended in the red.

Shares of Dr. Reddy's Laboratories Ltd.(up 1.62 per cent), Cipla Ltd.(up 1.46 per cent), Divi's Laboratories Ltd.(up 0.99 per cent), Torrent Pharmaceuticals Ltd.(up 0.92 per cent) and Sanofi India Ltd.(up 0.79 per cent) ended the day as top gainers in the pack.

Reliance Industries, HDFC Bank, and ITC. The BSE benchmark Sensex advanced 394 points or 0.6% to settle at 66,473. The broader NSE Nifty surged 121 points or 0.62% to end at 19,811. Meanwhile, the market capitalisation of all listed companies on the BSE increased by Rs 1.9 lakh crore to Rs 321.61 lakh crore. From the Sensex pack, Wipro and UltraTech Cement were the top gainers, rising 3.4% and 2.1%, respectively.