SENSEX, NIFTY50 open in the green as traders eye assembly election results; Nykaa slips 2%

As per exit polls, the ruling BJP-led NDA is projected to have lost the elections to the main opposition Congress party and its allies.

However, the market was volatile. 

At 9:18 AM, the S&P BSE SENSEX was trading at 81,049.39 levels, down 0.61 points, or 0.00% while the NSE NIFTY50 index was trading at 24,790.80, down 4.95 points, or 0.02%. 

Foreign Institutional Investors (FIIs) offloaded equities worth ₹8,293.41 crore on Monday, while domestic institutional investors (DIIs) bought equities worth ₹13,245.12 crore, according to exchange data.

Buzzing Stocks

Nykaa said its consolidated net revenue grew in “mid-twenties” in the second quarter of the ongoing financial year 2024-25 (FY25). The company added that the beauty division saw strong performance, with both net revenue and net sales value (NSV) rising in the mid-20% range. It added that the growth in gross merchandise value (GMV) was even higher.

HEG shares were trading over 2% higher at ₹2,273.90 apiece on the BSE after the company on Monday said it has acquired an 8.23% stake in New York Exchange-listed GrafTech International for ₹248.62 crore.

Broader Market

The BSE MidCap index was trading 30.61 points, or 0.07% lower at 46,988.47 points while the BSE SmallCap index was ruling at 54,330.16, up 212.44 points, or 0.39%.

Sector Watch

Metal stocks were the biggest losers, followed by IT stocks. The BSE METAL index was trading 2.66% lower at 32,619.43 points while the BSE IT index was trading at 42,041.32, down over 1%.

Global Markets

Mainland Chinese stocks returned from an extended break with a roaring start on Tuesday, scaling multi-year highs as investor exuberance over Beijing's aggressive stimulus measures showed no signs of easing.

The optimism, though, failed to spill over into other share markets in Asia, particularly Hong Kong, which reversed some of the rally it enjoyed while China was out on a week-long holiday.

Wall Street's three major indexes closed down around 1% on Monday while Treasury yields rose as traders reduced bets for Federal Reserve interest-rate easing and were worried about the Middle East conflict's impact on oil prices.