NIFTY50: 19,675 ▲ 231 (+1.1%)
SENSEX: 65,675 ▲ 742 (+1.1%)
- Benchmark indices closed higher amid upbeat global cues
- In all, 45 of the NIFTY50 stocks closed in the green
- US retail slowed to 3.2% in October 2023 from 3.7% in previous month
All of the NIFTY sectoral indices ended higher, with Realty (+2.9%) and IT (+2.5%) being the top gainers.
What's Up
| Top gainers | Today's change |
| Eicher Motors | 3,840 ▲194 (+5.3%) |
| Tech Mahindra | 1,174 ▲ 42 (+3.7%) |
| Hindalco | 505 ▲ 18 (+3.7%) |
What's Down
| Top losers | Today's change |
| Bajaj Finance | 3,108 ▼ 65 (-2.0%) |
| Power Grid | 210 ▼ 2.3 (-1.0%) |
| IndusInd Bank | 1,495 ▼ 14 (-0.9%) |
Market Sentiment
| USD-INR | 83.10 ▲ 0.13 (+0.1%) |
| NIFTY MIDCAP 100 | 41,404 ▲ 395 (+0.9%) |
| NIFTY SMALLCAP 100 | 13,789 ▲ 179 (+1.3%) |
| India VIX | 11.1 ▼ 0.05 (-0.4%) |
Stock Buzz
⭐ Markets surge amid positive global cues
Indian markets rallied amid positive cues from the global markets. This rally in global equities came after the retail inflation rate in the US slowed to 3.2% in October, and was below market forecasts of 3.3%. Softer US inflation numbers could prompt the US Federal Reserve to pause its interest rate hikes, which is sentimentally positive for the stock market.
⭐ PTC Industries signs multi-year deal, stock hits upper circuit
Shares of PTC Industries were locked in at the 5% upper circuit today as the company announced a multi-year contract with France-based Safran Aircraft Engines Safran Aircraft Engines to provide casting parts for the LEAP engine powering single-aisle jets Under the terms of the contract, PTC Industries will produce titanium-casting parts for Safran.
⭐ Ethos hits 52-week high on robust Q2 earnings
Shares of the luxury watch retailer closed 4.7% higher and hit a fresh 52-week high of ₹2,144 per share. This comes after the company reported a 37% YoY rise in its net profit to ₹18.5 crore for the September quarter. Meanwhile, its revenue from operations stood at ₹235 crore, up 32.4% YoY. The company also announced expansion plans for the jewellery and luggage business.
⭐ Oil rises on strong Chinese economic data
International crude oil prices edged higher today, with Brent Crude oil futures at $82.6 per barrel, up 0.3%. The oil price rose after China’s industrial production and retail sales beat market expectations. China's industrial production expanded by 4.6% YoY in October 2023, beating the market forecasts of 4.4%. Meanwhile, the country's retail sales rose 7.6% in October 2023, exceeding the market estimates of 7.0%.
IPO Corner
⭐ ASK Automotive made a decent stock market debut today. The company’s shares listed at ₹303.3 on the NSE, 8% higher than the issue price of ₹282. The company’s IPO was subscribed over 51 times.
Learn with Upstox
What is fiscal policy?
Fiscal policy refers to the government’s use of tools such as public expenditure and taxes in response to macroeconomic conditions. Fiscal policy is often contrasted with monetary policy, which is regulated by the central bank. The objectives of a fiscal policy may include creation of public assets like roads, railways and other infrastructural works. It could also include spending on public health and education.
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