Sensex zooms 595 pts, Nifty tops 19,400; all but PSBs rally

Closing Bell on November 6, 2023: Among sectors, the Nifty Metal, Pharma, Private Bank, and Realty indices added over 1 per cent each

Stock market highlights: The dovish tone set by the US Federal Reserve, coupled with modertion in employment in the US, has triggered a relief rally in equities. The benchmark S&P BSE Sensex advanced 595 points, or 0.92 per cent, to close at 64,959. The Nifty50, on the other hand, settled at 19,412, up 181 points or 0.94 per cent.

Divis Labs, Hero MotoCorp, Eicher Motors, L&T, Bajaj Finance, Axis Bank, Power Grid, Tata Steel, Bajaj Finserv, Britannia, Asian Paints, ONGC, Coal India, IndusInd Bank, and Ultratech Cement were the top gainers, rising between 1.5 per cent and 5 per cent.

The broader markets, too, rose in tandem with benchmarks with the BSE MidCap and SmallCap indices gaining 1 per cent each.

Among sectors, the Nifty Metal, Pharma, Private Bank, and Realty indices added over 1 per cent each. On the flipside, the Nifty PSU Bank index fell 1.1 per cent.

3:46 PM

Comment :: 'Expect H2FY24 to continue earnings momentum'

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.

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.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:44 PM

Nifty Heatmap :: 45 of 50 index stocks rally on Monday

3:41 PM

SmallCap Heatmap :: Index outperforms peer slightly, gains 1%; Inox Wind, Apollo Micro lead

3:39 PM

MidCap Heatmap :: Index rises 0.9% led by Aarti Industries, Deepak Nitrite

3:37 PM

CLOSING BELL :: Nifty reclaims 19,400

3:35 PM

CLOSING BELL :: Sensex zooms 595 pts, rallies for 3rd straight day

3:30 PM

Zerodha fixes tech glitch, says affected clients can only exit positions

Around noon, Zerodha said that the issue was resolved and the affected clients could only exit positions.

"Due to a technical issue, some of our users faced issues viewing the orderbook, positions, holdings and funds page. This issue is now resolved. As a precautionary measure, affected clients can only exit positions. Trading activity remains unaffected for the rest of our users," the brokerage firm wrote on X. READ MORE

3:22 PM

Adani vs Hindenburg: Supreme Court to consider plea for listing of PILs

On July 11, The Top Court Had Asked The Securities And Exchange Board Of India (SEBI) About The Status Of Its Ongoing Investigation Into The Allegations Of Stock Price Manipulation By The Adani Group. READ MORE

Raise coverage under food security Act: Supreme Court tells Centre

3:12 PM

ALERT:: BLS International Q2 net jumps 61%; stock gains 2%

BLS International reported a 60.8 per cent surge in Q2 net profit at Rs 82 crore for the quarter ended September 2023 as against Rs 50.99 crore in the corresponding quarter a year ago. Operating reveneu grew 14.3 per cent YoY to Rs 407.74 crore.

3:02 PM

ALERT:: OnMobile Global Q2 consolidated net soars to Rs 8.54 cr; stock surges 5%

OnMobile Global today posted a consolidated net profit of Rs 8.54 crore for the quarter ended September 2023 as against Rs 0.62 crore in the corresponding quarter a year ago. Total income rose 5.1 per cent YoY to Rs 141.94 crore from Rs 135.08 crore.

2:52 PM

Oil at $110 could prompt RBI to hike interest rate again: Morgan Stanley

Morgan Stanley estimates a sustained oil price of $110 a barrel could undermine India’s economic stability, likely forcing the central bank to resume hiking interest rates. READ MORE

Oil tankers are seen parked at a yard outside a fuel depot

2:42 PM

ALERT:: Navneet Education Q2 net slumps 81%; stock tanks 5%

Navneet Education today posted a 81.4 per cent plunge in Q2 net profit to Rs 29.41 crore for the quarter ended September 2023 when compared with Rs 157.90 crore in the corresponding quarter a year ago. Total income slumped 66.5 per cent YoY to Rs 263.75 crore.

2:30 PM

SAIL to increase coking coal purchases from Russia, expects 4 shipments

Australia accounts for more than half of India's coking coal imports of around 70 million metric tonnes a year. India also imports coking coal from Russia and the United States. READ MORE

2:19 PM

ALERT:: Exide Industries Q2 net rises 17%; stock rallies 4%

Exide Industries today reported a 16.5 per cent growth in Q2 net profit to Rs 287 crore for the quarter ended September 2023 when compared with Rs 246.27 crore in the corresponding quarter a year ago. Total income rose 10.1 per cent YoY to Rs 4,145.83 crore.