SENSEX, NIFTY50 little changed in early trade; Siemens shares rise 5%, M&M up 3% on EVs launch

At 09:30 AM, the S&P BSE SENSEX was trading at 79,942.21 levels, down 62 points, or 0.08%, while the broader NIFTY50 index of the NSE was trading 29 points, or 0.12%, lower at 24,165.30 levels. 

On the SENSEX, 12 stocks were trading in the green and the rest 18 in the red. The top gainer on the index was Adani Ports (up 1.5%), followed by M&M and Kotak Mahindra Bank. 

On the contrary, IndusInd Bank (down 1%) was the biggest loser.

Buzzing stocks

The Mumbai-based auto major unveiled two ground-up models—BE 6e and XEV 9e—with deliveries expected to commence in February-March next year.

The stock was frozen at ₹490.85 on the NSE.

The company reported a jump of 45.4% in consolidated net profit at ₹830.7 crore in the July to September period over ₹571.3 crore in the same duration of the previous financial year.

In the three months ending June 30, the tech and infra major had posted a net profit of ₹577.7 crore, the Indian arm of the German technology group Siemens AG said in an exchange filing.

The company follows the October to September fiscal year.

Foreign institutional investors (FIIs) bought equities worth ₹1,157.70 crore on Tuesday, according to exchange data.

Broader Market

The BSE MidCap index was trading at 45,781.11 levels, down 19 points, or 0.04%, while the BSE SmallCap index was trading 0.5% higher at 54,191.38. 

Sector Watch

Most sectors were trading in the green with power stocks leading the pack, followed by industrial stocks. The S&P BSE Power index was trading over 1% higher at 7,334.93 levels.

The S&P BSE Industrials index was trading 1% higher at 15,131.69 levels.

Global Markets

Asian stocks were weak on Wednesday as investors fretted over what countries could be targeted for tariffs under incoming US President Donald Trump, a day after he pledged new levies on Canada, Mexico, and China.

The loonie and peso remained weak following sharp drops to multi-year lows on Tuesday, while the yuan edged back towards the previous session's four-month trough.

Australia's dollar, which is often used as a liquid proxy for the yuan given China is the country's biggest trading partner, also inched back towards Tuesday's four-month low.

Japan's Nikkei was a standout underperformer again on Wednesday, declining 0.9%. The auto sector was the worst-performing industry group on the Tokyo Stock Exchange, dropping more than 3% as both the threat of tariffs and the drag of a stronger yen weighed on the profit outlook.