Market Close Highlights: Sensex adds 900pts; Nifty ends near 24,450; IT stocks soar on Trump victory

Stock Market Highlights: As many as 41 out of 50 constituent stocks of Nifty50 ended higher, led by BEL, Adani Enterprises, TCS, HCL Tech, and Wipro

2:01 PM

Stock Market LIVE Updates: PM Modi congratulates Donald Trump on potential win in US Elections 2024

1:59 PM

Stock Market LIVE Updates: Festive season push auto retail sales up 32%; two-wheelers, PVs shine

Stock Market LIVE Updates : Driven by a rise in rural demand and the festive season impact, automobile retail sales for October rose by 32 per cent compared to last year, with significant gains in the two-wheeler (2W) and passenger vehicle (PV) segments, which surged by 36 per cent and 32 per cent, respectively.

 

During the month, three-wheeler sales increased by 11 per cent, commercial vehicles by 6 per cent, and tractors by 3 per cent. On a monthly basis, overall retail sales posted a 64 per cent rise, according to data shared by the Federation of Automobile Dealers Associations (Fada). READ MORE

 

 

1:54 PM

Stock Market LIVE Updates : RITES reports 25% decline in Q2 net profit at Rs 82.50 crore

Stock Market LIVE Updates : RITES reports revenue from operations at Rs 540.86 crore, down 7.12 per cent YoY from Rs 582.36 crore.

PBT came in at Rs 111.3 crore, down from Rs 150.28 in the year ago period.

The company's profit for the period stood at Rs 82.50 crore, down 25.1 per cent YoY from Rs 110.17 crore.

 

1:42 PM

Stock Market LIVE Updates: Global Health-run Medanta signs deal to operate 750-bed hospital in New Delhi

Stock Market LIVE Updates : Global Health today informed that it has signed a deal with a charitable trust society to operate a 750-bed hospital in New Delhi.

The company, in an exchange filing, said, "We wish to inform you that the Board of Directors of the Company, at their meeting held today i.e. Wednesday, November 6, 2024, have approved signing of definitive agreement (s) with Dr. Narayan Dutt Shrimali Foundation International Charitable Trust Society (Society) to operate and manage~ 750 bedded hospital in Pitampura, New Delhi."

The company added that as per the agreement, the hospital building and associated civil infrastructure will be developed by the Society and Medanta will make the necessary investments in internal fitouts, MEP, furniture and medical equipment. 

Medanta is expected to incur a project capex of up to Rs 600 crore in the next 3 to 4 years, to be funded by a combination of internal accruals and debt financing. 

 

1:33 PM

Stock Market LIVE Updates : Piramal Pharma soars 13% on heavy volumes; up 42% in 2 weeks post Q2 show

Stock Market LIVE Updates : Shares of Piramal Pharma (PPL) hit a new peak of Rs 307.85, soaring 13 per cent on the BSE in Wednesday’s intra-day trade backed by heavy volumes on a healthy outlook.

The stock surpassed its previous high of Rs 284.35 touched on November 1, 2024. At 12:35 pm; the stock was up 10 per cent at Rs 301.65, as compared to 0.93 per cent rise in the BSE Sensex. A combined 32.3 million shares representing 2.43 per cent of total equity of PPL changed hands on the NSE and BSE. READ MORE

 

1:25 PM

Stock Market LIVE Updates : 'We've to put the division of the past 4 years behind us'

Stock Market LIVE Updates : Republican candidate Donald Trump said he is going to lead the White House with a simple motto, "Promises made, Promises kept".

He added, "Its time to put the division of the past four years behind us and its time to unite and we've to try".

1:23 PM

Stock Market LIVE Updates: US Presidential election - Donald Trump declares victory before election is called

Stock Market LIVE Updates : Republican candidate and former US President Donald Trump appeared on stage at West Palm Beach, Florida, Convention Center to claim victory over Kamala Harris after NBC News projected that he would win the swing state of Pennsylvania, bringing him short of just 4 electoral votes to win the closely faught election.

“I want to thank the American people for the extraordinary honor of being elected your 47th president and your 45th president, said Trump in his address. 

 

1:13 PM

Stock Market LIVE Updates: IT stocks - Persistent Systems, LTIM, TCS, Infosys surge up to 5% on Nov 6

Stock Market LIVE Updates : The information technology (IT) stocks were in great demand on Wednesday, with Nifty IT index surging 3.56 per cent in intraday deals. Individually, stocks jumped up to 5 per cent with Persistent Systems surging 4.98 per cent, LTIMindtree up 3.75 per cent, TCS rising 3.55 per cent and Infosys gaining 3.46 per cent intraday.

 

On other hand, IT firms like LTTS, HCL Technologies, Coforge, Tech Mahindra, Wipro and Mphasis gained between 1-3 per cent each intraday. READ MORE

 

1:05 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty trade with gains

Stock Market LIVE Updates: Benchmark equity indices BSE Sensex and Nifty 50 extended their gains following a higher open on Wednesday, as trends showed Donald Trump leading the race to become the next US President.

 

At 1 PM, the BSE Sensex was up 696 points, or 0.88 per cent, at 80,173; while Nifty 50 was at 24,419, up 206 points, or 0.85 per cent.

12:44 PM

Stock Market LIVE Updates : This smallcap renewable firm has surged 548% in one year; do you own it?

Stock Market LIVE Updates : Shares of Waaree Renewable Technologies locked in a 5 per cent upper circuit at Rs 1734.75 a piece on Wednesday after the company reported its second quarter earnings for the financial year 2024-25 (Q2FY25).

 

The company’s revenue from operations for Q2FY25 stood at Rs. 524.47 crore, representing a growth of 249.50 per cent year-on-year as compared to Rs. 150.06 crores in Q2FY24. READ MORE

 

12:36 PM

Stock Market LIVE Updates: Cyient DLM signs long-term deal with Honeywell Aero to supply aircraft cooling tech

Stock Market LIVE Updates : Cyient DLM today informed about its partnership with Honeywell Aerospace Technologies for aircraft cooling technology called micro vapor cycle system (Micro VCS). 

The company, in an exchange filing, said, "Cyient DLM has inked a 16-year program forecast to develop liquid cooling loops that will be used in select applications of Micro VCS."
 

Micro VCS is up to 35 percent lighter and 20 percent more efficient than systems with comparable cooling capacity, the company added.

12:31 PM

Stock Market LIVE Updates: 'Volatility, weak Q2 nos, & economic slowdown have tempered optimism'

Stock Market LIVE Updates : "The US economy faces a potential 'soft landing' scenario, with inflation easing without leading to a recession, while a 'No Landing' scenario—characterised by steady growth and sustained inflation between 2.5 per cent and 3 per cent—is less likely, as it would require significant increases in productivity and labor force growth. 

Regarding the election's impact on markets, investors anticipate policy constraints to ease after the election, regardless of the winner. Trump’s focus is on tariffs, while Harris emphasises industrial policy; however, Congress will primarily shape future policy direction. 

Turning to India’s equity market outlook, the Nifty 50 index has surged over 200 per cent since March 2020. However, recent volatility, weak Q2 earnings, and economic slowdown due to weather disruptions have tempered optimism. 

Strong domestic investor participation supports market liquidity, although foreign inflows have decreased due to election uncertainties. JP Morgan projects India’s GDP to grow by 6.5 per cent in 2024, potentially doubling to $7 trillion by 2030 and making it the third-largest economy by 2027, with key support levels for the Nifty 50 at 24,300 and 23,200. 

In the commodities space, gold is gaining momentum due to falling interest rates, geopolitical tensions, and a weakening dollar. Conflicts in Ukraine, the Middle East, and the upcoming US election have enhanced gold's appeal as a safe haven. 

As the Federal Reserve signals possible rate cuts, gold benefits from its inverse relationship with the dollar. Lastly, the recent 30-year bond auction saw a coverage ratio of 2.50, indicating robust demand. With expected Fed rate cuts, higher-yield bonds offer capital gains, with long-term Treasuries particularly benefiting due to their sensitivity to interest rate changes."
 

Views By: Justin Khoo, Senior Market Analyst APAC, VT Markets

12:23 PM

Stock Market LIVE Updates: Investors lean toward 'Trump trade' but say race too close to call yet

Stock Market LIVE Updates : Global investors on Tuesday were closely watching key local races in the U.S. presidential election, with trades starting to lean toward pricing in a Donald Trump win, although many said it was still too early to tell.

 

U.S. stock futures and the dollar pushed higher while Treasury yields climbed and bitcoin rose, suggesting trades favoring a Trump win over Democrat Kamala Harris. READ MORE

 

 

12:16 PM

Stock Market LIVE Updates : Sep inflation was 5.5%; Oct may be higher: RBI Governor Shaktikanta Das

Stock Market LIVE Updates : Reserve Bank of India (RBI) Governor Shaktikanta Das warned that inflation for October is likely to be higher than the 5.5 per cent recorded in September.

Speaking to Tamal Bandyopadhyay, consulting editor at Business Standard, at India’s largest banking, financial services, and insurance (BFSI) event, the Business Standard BFSI Insight Summit on Wednesday, Das assured that the RBI is prepared to act with “strength and agility,” likening the Indian economy to a “tiger” for its resilience amid fluctuating global conditions. READ MORE

 

12:12 PM

Stock Market LIVE Updates : RBI's 'cease and desist' directive on NBFCs not arbitrary: Shaktikanta Das

Stock Market LIVE Updates : Reserve Bank of India (RBI) Governor Shaktikanta Das clarified that recent actions against non-banking financial companies (NBFCs) reflect the central bank’s “corrective” approach rather than a punitive stance.

He added that out of 9,400 NBFCs in India, action was taken against only four, highlighting that the RBI’s restraint is greater than its interventions. READ MORE