Market wrap: NIFTY50 & SENSEX stem support at 200 EMA levels; Eicher Motors, Hero Motocorp & HDFC Life among top gainers

Indian equity benchmarks ended with minor losses on Thursday amid the weekly F&O expiry. For most of the day, markets traded in red amid rising wholesale inflation. However, during the day, indices managed to trade with limited losses. As for broader indices, the BSE mid-cap index and the small-cap index ended in the green.

Markets continued to trade lower in the afternoon session as sentiments got hit after Inflation based on the wholesale price index (WPI) in India jumped in the month of October 2024 to 2.36% from 1.84% in September 2024 due to an increase in prices of food articles, crude petroleum & natural gas and electricity.

The SENSEX ended at 77,580.31, down by 110.64 points or 0.14% after trading in a range of 77,424.81 and 78,055.52. There were 13 stocks advancing against 17 stocks declining on the index. Meanwhile, SENSEX closed 2.4% lower for the week and over 10% from the recent all-time high of 85,978.

The NIFTY50 ended at 23,532.70, down by 26.35 points or 0.11% after trading at 23,484.15 and 23,675.90. Twenty stocks advanced on the index, while thirty stocks declined. For the week ended on Thursday, the NIFTY50 closed 2.5% lower for the week and 10.15% lower from the recent all-time high of 26,277.

Global markets

On the global front, European markets were trading higher ahead of Eurozone growth data due later in the day. Earnings offered some comfort as bond yields surged amid inflation concerns under Trump's presidency.

Asian markets ended mostly in red after some Federal Reserve officials shifted investors’ attention back to inflation risks. European markets were trading mostly in green ahead of Eurozone growth data due later in the day.

Sectoral gainers & losers

Sectorally, NIFTY Media (+2.2%), Realty (1.03%) and Auto (0.66%) were the top gainers. While, NIFTY FMCG (-1.5%) and PSU Banks (-0.7%) were the top sectoral losers. On a weekly basis, NIFTY IT managed to be the sole gainer with 0.8% gains for the week, while NIFTY Metals (-8%) and PSU Bank (-7%) were the top two sectoral losers.

Top gainers & losers

European markets were trading higher; the UK’s FTSE 100 increased 4.53 points or 0.06% to 8,034.86, France’s CAC rose 53.19 points or 0.73% to 7,270.02, and Germany’s DAX was up by 196.41 points or 1.02% to 19,199.52.

Buzzing stocks

Shares of Jio Financial Services, Paytm and Zomato gained 5-7% on Thursday, November 14, as the shares of these companies were announced to be among the 45 new stocks that would be added to the National Stock Exchange of India’s (NSE’s) futures and options (F&O) segment effective November 29.

Shares of Banco Products closed in upper circuits after the company announced robust quarterly results for Q2 FY25.In Q2 FY25, consolidated revenue grew to ₹895 crore from ₹725 crore in Q2 FY24, a 23.51% YoY rise, while PAT increased to ₹139 crore from ₹66 crore. In addition, the company also announced a 1:1 bonus issue, for which the record date will be announced later.

State-run aerospace company Hindustan Aeronautics Limited (HAL), on Thursday, November 14, reported a 22.1% jump in its consolidated net profit to ₹1,510.49 crore in the second quarter of the current fiscal. Following the strong Q2FY25 results, the shares of HAL 0.85% higher at ₹4,101 apiece on the NSE.