SENSEX down 150 pts in early trade; NIFTY50 below 24,150; Indian Hotels shares jump over 5%

At 9:29 AM, the S&P BSE SENSEX was trading at 79,429.53 points, down 112 points, or 0.14%, while the broader NIFTY50 index of the NSE was trading at 24.60 points, or 0.16% lower at 24,174.75 points.

The top five gainers on the NSE were Infosys, Wipro, Hindalco, Apollo Hospitals, and Tech Mahindra. The top losers were BPCL, Coal India, RIL, Tata Motors, and ICICI Bank. 

Buzzing Stocks

The company on Thursday reported a more than three-fold rise in its consolidated net profit to ₹582.71 crore for the second quarter of 2024-25, helped by exceptional gains from the consolidation of its air and institutional catering business segment, TajSATS.

It had posted a ₹1,305.59 crore net profit for the period ended September 2023, the company said in an exchange filing.

Broader Market

The BSE MidCap index was trading at 46,484.02 levels, down 144.51 points, or 0.31% while the BSE SmallCap index was trading at 55,439.07 points, down 325 points, or 0.58%.

Sector Watch

IT stocks were the top gainers in morning trade, followed by consumer durable stocks. On the other hand, energy shares were the top losers. 

The BSE Information Technology index was trading at 42,152.54 levels, up 403.97 points, or 0.97%. 

Global Markets

Asian stocks rose broadly on Friday, tracking Wall Street's overnight rise to record highs, as investors digested the Federal Reserve's message for careful interest rate cuts even with expectations for big fiscal spending under incoming President Donald Trump.

Asia-Pacific stocks were on track for a 3.1% rally this week after quickly recovering from a knee-jerk dip on US election night, which spurred worries of debilitating trade tariffs, not least in China.

Shares on Wall Street scaled record highs on Thursday, lifting stock markets worldwide. At the same time, US Treasury yields retreated further after the Federal Reserve cut interest rates and as investors processed a second Donald Trump presidency.