Market Wrap, Nov 14: SENSEX up 84 pts, NIFTY50 above 25,900 as indices trim losses; Tata Motors CV top gainer

The Indian stock market ended slightly higher on Friday, November 14, after a volatile session, recovering in the final hour despite weak global cues, supported by gains in PSU bank stocks.

Further, market investors were also cautious on Friday as counting was underway for the 243 assembly seats in Bihar. Votes cast in the two-phase elections were tallied across 46 centres in 38 districts, adding to the uncertainty in the market.

With Friday’s close, the benchmark indices ended a two-week losing streak, with both the Sensex and NIFTY50 gaining nearly 2%, while the Nifty Bank edged up 1.1%. Broader markets also posted a positive week, as the Nifty Midcap 100 rose 1.5% and the Nifty Smallcap 100 gained 1%.

According to exchange data, on Thursday, the foreign institutional investors (FIIs) sold shares worth ₹383.68 crore, while the domestic institutional investors (DIIs) bought equities worth ₹3,091.87 crore on a net basis.

Globally, Asian shares fell on Friday as cautious remarks from US Federal Reserve officials dimmed hopes of a rate cut next month, and a busy, uncertain data calendar added to investor worries.

Japan's Nikkei slipped 1.8%, Singapore's Straits Times fell 0.65%, South Korea's KOSPI dropped 3.97%, and Hong Kong's Hang Seng declined 1.8%. The Shanghai Composite was also closed 0.98% lower.

On Wall Street, all major indices closed lower on Thursday as investors dialled back expectations of interest rate cuts amid persistent inflation concerns and growing divisions among central bankers over the health of the US economy.

The S&P 500 plunged 1.66% to end at 6,737.49, and the Nasdaq dipped 2.29% to 22,870.36, while the Dow Jones Industrial Average fell 1.65% to end at 47,457.22.

Here are the key developments of Friday's session that you need to know

As many as 3,188 stocks traded on the NSE on Friday. Out of this, 1,483 advanced and 1,623 stocks declined, while 82 scrips remained unchanged.

This indicated that the market breadth was in favour of declines.

A total of 59 stocks hit their 52-week highs, while 116 stocks touched their one-year lows. Besides, 83 stocks hit their upper circuit limits, and 66 touched their lower circuit bands on Friday.

NSE-listed firms' market capitalisation stood at ₹471.87 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 11.94 levels, falling 1.84%.

The Nifty Midcap 100 index rose 0.08% to 60,739.20, supported by strong gains in Muthoot Finance (9.93%), Jubilant Foodworks (7.34%), and Bharat Dynamics (6.13%).

The Nifty Smallcap 100 index climbed 0.38% to 18,252.50, driven by notable advances in HBL Engineering (7.79%), Garden Reach (5.61%), and Sagility (5.43%).

Among sectors, Nifty PSU Bank led the gainers, rising 1.17%, followed by Nifty Pharma (0.59%), Nifty FMCG (0.57%), Nifty Private Bank (0.15%), and Nifty Consumer Durables (0.11%). Meanwhile, Nifty IT (-1.03%), Nifty Metal (-0.89%), Nifty Auto (-0.52%), and Nifty Realty (-0.08%) were the top losers.

On the NIFTY50 index, 20 stocks declined while 31 advanced on Friday.

Tata Motors CV was the most contributing stock, climbing 3.2%, followed by Eternal (2.15%), Bharat Electronics (1.6%), Axis Bank (1.57%) and Trent (1.52%).

On the flip side, Infosys (-2.33%), Eicher Motors (-2.27%), Tata Steel (-1.5%), Tata Motors Passenger Vehicle (-1.27%) and HDFC Life Insurance (-1.27%) were the top laggards on the 50-share index.