The Indian stock market saw a positive end to the first day of the trading week. Prior to this, on Monday, the domestic stock market had closed at flat levels due to weak global cues. Sensex and Nifty closed with nearly a 0.5% increase on Monday. Today, there was buying observed in realty, energy, and infrastructure stocks, while banking, metal, and IT indices closed with gains. Auto and FMCG shares also witnessed a decline.
The early trading session saw weakness in the market. Reliance Industries made the most significant contribution to Nifty’s gains after the announcement of second-quarter results. The stock closed with an almost 2% increase. Nifty Bank outperformed due to a more than 1% increase in stocks like ICICI Bank, Kotak Mahindra Bank, and IndusInd Bank.
How Did the Market Close Today?
After a day of trading, Sensex gained 330 points to close at 64,113, while Nifty gained 94 points to close at 19,141. Nifty Bank surged by 257 points and closed at 43,039. On the other hand, Nifty Midcap Index gained 33 points and closed at 38,735.
Stocks in Focus Today
After the release of second-quarter results and brokerage reports, government-owned company BPCL saw a 3% increase in its stock price. It became one of the top gainers in the Nifty list. UPL, on the other hand, witnessed a decline of over 4% due to weaker results and a guidance cut for the fiscal year 2024, which was below expectations.
Petronet LNG’s stock price dropped by more than 8% after announcing an investment proposal of around INR 20,685 crores. Following the third-phase capex announcement, UltraTech Cement gained more than 2%. Before the release of October quarter sales figures, Maruti Suzuki and Tata Motors both saw a decline of 2-2% in their stock prices, with continued pressure on auto shares. Adani Green Energy gained 4% after posting strong results for the second quarter, beating expectations.
Overall, the Indian stock market displayed mixed trends with sector-specific movements, and investors closely watched the quarterly earnings reports to make informed decisions.
