NIFTY50, SENSEX at day's high; Adani Enterprises, Adani Ports top gainers

Domestic equity indices bounced back amid weak cues from other Asian markets. Gains in NTPC, Bajaj Finance, Maruti Suzuki, Kotak Mahindra Bank, and Tech Mahindra were offset by losses in Ultratech Cement, IndusInd Bank, Asian Paints, Bharti Airtel, and SBI.

The Indian rupee's depreciation against the dollar weighed down sentiments. At the interbank foreign exchange market, the rupee weakened by 17 paise to 84.47 against the dollar due to increased demand for American currency from importers and banks.

On the BSE sectoral front, traders were seen pilling up positions in Utilities, Power, Industrials, Capital Goods and PSU, while selling was witnessed in Realty, Oil & Gas, Healthcare, Energy and Consumer Durables.

On the global front, Asian markets were trading mostly in red after China’s industrial profits dropped by 10% in October from a year ago, which is another sign that Beijing’s recent stimulus measures have yet to reverse a slump in corporate earnings.

In a stock-specific development, Mahindra and Mahindra (M&M) gained after its subsidiary, Mahindra Electric Automobile, launched two new electric Sports Utility Vehicles (SUVs): the XEV 9e and BE 6e.

The BSE Sensex is currently trading at 80284.49 (+283.43) points after trading in a range of 79844.49 and 80,511. The index had 19 stocks advancing and 11 stocks declining.

The broader indices were trading in green; the BSE mid-cap index was (+0.01%), while the small-cap index was (+0.71%).

The top gaining sectoral indices on the BSE were Utilities (+1.63%), power (+1.43%), Industrials (+1.00%), Capital Goods (+0.82%), and PSU (+0.58%). Realty (-0.81%), Oil and gas (-0.48%), Healthcare (-0.33%), Energy (-0.23%), and Consumer Durables (-0.10%) were the top losing indices on the BSE.

The NIFTY50 is currently trading at 24286.65 points (+90.15) or 0.5% after trading in a range of 24145.65 and 24354.85. The index advanced 28 stocks, while 22 stocks declined.

The top gainers on Nifty were Adani Enterprises (+11%), Adani Ports (+7.1%), Trent (+2.8%), and BEL (+2.35%). Conversely, Apollo Hospitals (-1.1%), Titan (-1.0%), and Shriram Finance (-0.7%) were the top three losers.

Asian markets were trading mostly in red; Straits Times fell 8.19 points or 0.22% to 3,704.20, KOSPI dropped 17.90 points or 0.72% to 2,502.46, Nikkei 225 slipped 368.42 points or 0.97% to 38,073.58, and Taiwan Weighted lost 327.41 points or 1.46% to 22,351.35. However, Hang Seng advanced 73.24 points or 0.38% to 19,232.44 and Shanghai Composite strengthened 9.29 points or 0.28% to 3,269.05.