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  5. Indices extend gains, SENSEX up over 400 pts, NIFTY50 tests 25,100; Avenue Supermarts tanks over 9%

Market News

Indices extend gains, SENSEX up over 400 pts, NIFTY50 tests 25,100; Avenue Supermarts tanks over 9%

Upstox
By Upstox News Desk

3 min read | Updated on October 14, 2024, 10:03 IST

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SUMMARY

The top five gainers on the NSE were Wipro, L&T, Hero MotoCorp, JSW Steel, and Shriram Finance. The top losers were Axis Bank, Bajaj Finance, Cipla, Britannia, and Titan Company.

Stock list

DMART
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RELIANCE
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HAL
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At 9:23 AM, the S&P BSE SENSEX was trading 229 points, or 0.28%, higher at 81,610.43 levels

At 9:23 AM, the S&P BSE SENSEX was trading 229 points, or 0.28%, higher at 81,610.43 levels

Stock market today: The benchmark indices, after opening on a decent note, extended their gains in the early trade on Monday, October 14.
At 9:48 AM, the S&P BSE SENSEX was trading at 81,828.40 points, up 447 points, or 0.55% amid buying in HDFC Bank, L&T, Infosys and Reliance Industries (RIL). 

The broader NIFTY50 index of the NSE was trading at 25,104.90 levels, up 140.65 points, or 0.56% higher.  

The top five gainers on the NSE were Wipro, L&T, Hero MotoCorp, JSW Steel, and Shriram Finance. The top losers were Axis Bank, Bajaj Finance, Cipla, Britannia, and Titan Company.

Foreign investors (FIIs and FPIs) net sold equities worth ₹4,162.66 crore on Friday, October 11, while domestic institutional investors (DIIs) net bought shares worth ₹3,730.87 crore, as per NSE data.

Buzzing Stocks

Avenue Supermarts, the operator of the retail chain D-Mart, shares slipped over 9% to ₹4,143.60 apiece on the BSE after the company reported a 5.78% increase in its consolidated net profit to ₹659.44 crore for the second quarter ended September 2024.

Its revenue from operations rose 14.41% to ₹14,444.50 crore during the quarter under review. It was ₹12,624.37 crore in the corresponding quarter of the last fiscal.

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Ashoka Buildcon shares were up over 5.5% at ₹265.90 apiece on the BSE as, according to news reports, the firm's joint venture has been awarded a letter of acceptance for a project valued at ₹1,673 crore from the City and Industrial Development Corporation of Maharashtra.

Broader Market

The broader market was underperforming the benchmark indices. The BSE MidCap index was trading 18 points, or 0.04%, lower at 48,418.87 levels, while the BSE SmallCap index was trading at 56,645.68, up 45.59 points, or 0.08%. 

Sector Watch

Metal stocks were the leading gainers, followed by banking aand financial services stocks. The S&P BSE METAL index was trading at 33,952.79 levels, up 0.91%.

Market Breadth

The market breadth was in favour of the bulls, as out of 3,412 stocks traded on the BSE, 1,848 gained and 1,421 declined, while the remaining 143 remained unchanged. 

Global Market

Asian stocks swung between gain and loss on Monday as investors struggled to reach a consensus view on China's economic stimulus promises made over the weekend, which, though broad, were light on specifics.

On Wall Street, US stocks advanced on Friday, with the Dow and S&P 500 closing at record highs, as bank shares jumped 4.21%, its biggest daily percentage gain since May 2023, at the start of the quarterly earnings season.

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In the commodity market, oil prices fell by more than $1 a barrel, losing over 1.5% in early trading on Monday, after disappointing Chinese inflation data and a lack of clarity on Beijing's economic stimulus plans stoked fears about demand.

(With inputs from Reuters)

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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