NIFTY50: 19,689 ▲ 177 (+0.9%)
SENSEX: 66,079 ▲ 566 (+0.8%)
- Benchmark indices show resilience amid global tensions
- In all, 44 of the NIFTY50 stocks closed in the green
- Between July 2022 to June 2023, India’s unemployment rate dropped to a six-year low of 3.2%, as per NSSO survey
All of the NIFTY sectoral indices ended higher, with Realty (+4.0%) and PSU Bank (+2.0%) being the top gainers.
What's Up
| Top gainers | Today's change |
| Coal India | 302 ▲ 14 (+5.0%) |
| Adani Ports | 818 ▲ 27 (+3.5%) |
| Bharti Airtel | 948 ▲ 23 (+2.5%) |
What's Down
| Top losers | Today's change |
| IndusInd Bank | 1,418 ▼ 9.9 (-0.7%) |
| Cipla | 1,153 ▼ 5.8 (-0.5%) |
| TCS | 3,629 ▼ 8.8 (-0.2%) |
Market Sentiment
| India VIX | 11.2 ▼ 0.13 (-1.1%) |
| NIFTY MIDCAP 100 | 40,285 ▲ 540 (+1.3%) |
| NIFTY SMALLCAP 100 | 12,760 ▲ 151 (+1.2%) |
| USD-INR | 83.25 ▼ 0.13 (-0.1%) |
Stock Buzz
⭐ Realty stocks see festive cheer
Realty stocks, including Prestige Estate, DLF, Macrotech Developers and others rose between 3% and 8% today. Meanwhile, the NIFTY Realty index was up 4.0% amid strong quarterly business updates from developers like Prestige Estates. As per experts, the realty sector will continue to see strong sales momentum, especially during the festive season, after the RBI held interest rates steady in its last monetary policy meeting.
⭐ JSW Steel’s steel production rises
JSW Steel’s consolidated crude steel production rose 13% YoY to 6.41 million tonnes (MT) during the second quarter of FY24. However, on a quarterly basis, production dropped by 3% due to the scheduled shutdown at the company's facility and lower capacity utilisation at its plant in Ohio, USA, due to market conditions. Following the announcement, the company's share closed 1.8% higher today.
⭐ Mazagon Dock sails ahead on new deal
Shares of the shipbuilding company rose 5.0% today after it received an order from a European client. The order involves the construction of six firm and four optional units of 7,500 DWT hybrid power vessels. So far in 2023, the company's shares are up over 174%.
⭐ Sterlite Technologies’ arm unveils new AI platform
STL Digital, a subsidiary of Sterlite Technologies, has launched a generative AI service ‘Alnnov’ for its business clients. As per the company, this will accelerate generative AI-led innovation and adoption. Shares of the IT services provider rose 1.4% today.
Result Corner
⭐ KPI Green Energy posted a 64% YoY jump in consolidated net profit to ₹34.7 crore for the September quarter. Meanwhile, revenue stood at ₹215 crore, up 34% YoY. The company also declared an interim dividend of ₹0.25 per share.
⭐ GM Breweries reported a 1.4% YoY fall in net profit to ₹22.3 crore for the September quarter. Meanwhile, its revenue from operations rose 5.7% YoY to ₹594 crore. The company's shares declined over 9% today after the result announcement.
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