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  5. SENSEX rises 300 points, trades above 82,000; NIFTY50 tests 25,100; Bandhan Bank up 3%, Titan slips 3%

Market News

SENSEX rises 300 points, trades above 82,000; NIFTY50 tests 25,100; Bandhan Bank up 3%, Titan slips 3%

Upstox
By Upstox News Desk

3 min read | Updated on October 07, 2024, 10:33 IST

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SUMMARY

Shriram Finance, Hero MotoCorp, ITC, HCL Tech, and Trent were the biggest gainers on the NSE while Titan Company, HUL, Britannia, ONGC, and Adani Ports were the top losers. 

Stock list

BANDHANBNK
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KALYANI
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TITAN
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The NSE NIFTY50 index was ruling 88.5 points, or 0.35%, higher at 25,103.10 points.

The NSE NIFTY50 index was ruling 88.5 points, or 0.35%, higher at 25,103.10 points.

Stock market today: The stock market, as expected, opened on a positive note on Monday, October 7, amid encouraging global cues. At 9:22 AM, the S&P BSE SENSEX was trading at 82,057.84 levels, up 369.39 points, or 0.45%. 

The NSE NIFTY50 index was ruling 88.5 points, or 0.35%, higher at 25,103.10 points.

Shriram Finance, Hero MotoCorp, ITC, HCL Tech, and Trent were the biggest gainers on the NSE while Titan Company, HUL, Britannia, ONGC, and Adani Ports were the top losers. 

On the SENSEX, ITC was the biggest gainer (up over 1%), followed by HCL Tech and Bajaj Finance. On the flip side, Titan Company (down nearly 1%) was the biggest loser. 

Buzzing Stocks

Bandhan Bank shares gained as much as 2.88% higher to ₹192.30 apiece on the BSE after the lender said its total business increased 24.6% in the second quarter of the current financial year (Q2 FY25). Total business at the end of September 30, 2024, touched ₹2,73,163 crore as compared to ₹2,19,712 crore in the similar previous period, representing a rise of 24.6%. Loans and advances of the bank at the end of current second quarter stood at ₹1,30,652 crore, while deposits touched ₹1,42,511 crore, the lender said.

ALSO READ | Saregama India shares in focus today; there is a 'Dharma' connection; read on
Titan Company shares were down nearly 3% at ₹3,562.10 apiece after the company's Q2 business update. The Tata Group-owned company registered a growth (standalone) of around 25% YoY in O2FY25. A total of 75 stores (net) were added during the quarter, expanding Titan's combined retail network presence to 3,171 stores. Its jewellery segment grew 26% YoY. 

Foreign Institutional Investors (FIIs) offloaded equities worth ₹9,896.95 crore on Friday, while Domestic Institutional Investors (DIIs) bought equities worth ₹8,905.08 crore, according to exchange data.

Broader Market

The BSE MidCap index was trading flat at 47,913.06 levels, while the BSE SmallCap index was trading at 55,645.47, down 0.54%. 

Sector Watch

IT stocks were the biggest gainers, followed by healthcare index on the NSE. The NSE IT index was trading 1.36% higher at 42,482.95 levels, with all 10 constituents trading in the green. 

Consumer durables stocks were the biggest losers. 

Global Markets

Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after blowout US labour data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.

ALSO READ | Titan Q2 update: Firm reports 25% rise in standalone growth; add 75 new stores

Crude oil prices eased from a one-month peak even as Israel bombed targets in Lebanon and the Gaza Strip, with Monday marking one year since the Hamas attack that triggered the war.

(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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