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Market breadth was skewed in favour of buyers. Around 3,036 stocks advanced, 542 stocks declined, and 70 stocks remained unchanged on BSE.
NCC Ltd. share price rose as much as 6.41% to Rs 317.45 apiece, the highest level since Sept 13. The stock gained as the company informed the exchanges that it has received Rs 3,496 crore order in October.
The second quarter earning season has been dismal, which is a concern. The revenue growth of corporates is not really picking up. The margins are under pressure. So, Indian Inc had a great run over the last few years, said Andrew Holland, chief executive officer, Avendus Capital
With the valuation where it is, there is no room for slippage. Holland is not getting a good sense across sectors that things are going to pick up in the second half, Holland added.
The price of gold has appreciated by 28.80% according the India Bullion Association. The appreciation that the commodity is higher than the appreciation that equities have reported.
The outlook on the commodity to be held as an asset also seem positive according to experts. Read more about Gold price outlook for 2025 here.
At pre–open, the NSE Nifty 50 was trading 0.4% higher at 24,324.90, and the BSE Sensex was trading 0.97% higher at 80,155.76.
Coal India Ltd.'s October production rose 2.3% on the year to 62.5 million ton. Its October offtake fell 0.5% on the year to 61.4 million ton, the company said in an exchange filing.
MOIL Ltd. cut prices of ferro-grade manganese ores with manganese content of Mn-44% and above by 7%. It cuts prices of ferro-grade manganese ores with manganese content below Mn-44% by 1%, the company said in an exchange filing.
MOIL cuts prices of SMGR, fines and chemical grades by 1%. The company continues the basic price of EMD at 20,500 per metric ton.
NBCC (India) Ltd. received orders worth Rs 235 crore for construction and renovation works from two universities in Varanasi and Power Grid Corp, it said in an exchange filing.
Hindustan Unilever Ltd. completed sale and divestment of water purification business carried under brand ‘Pureit’, it said in an exchange filing.
Private sector banks, financial services, IT and defence stocks are expected to perform well after Diwali, according to Dinshaw Irani, chief investment officer and chief executive officer of Helios Capital Management (India) Pvt. Read more
The NSE Nifty 50 and BSE Sensex indices will open to trade for a special session on occasion of Diwali 2024 Friday. Market analysts see the crucial resistance zone lies in the range of 24,300-24,000 for muhurat trading session.
Indian stock markets will open from 6:00 p.m. to 7:00 p.m., according to data on National Stock Exchanges. The pre-opening session will start from 5:45 p.m. on Friday. For details on timings click here.
Benchmark equity indices of India recorded a second session of fall. On Thursday, they were dragged down by shares of IT and financial services companies.
The NSE Nifty 50 closed 135.50 points, or 0.56% down at 24,205.35, while the S&P BSE Sensex ended 553.12 points, or 0.69% lower at 79,389.06.
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