Markets at Noon: Nifty and Sensex Climb 0.52% as Reliance Industries Surges
Indian stock markets show positive momentum at midday, with Nifty 50 and BSE Sensex both up 0.52%. Printing & Stationery and Banks lead sectoral gains, while Energy and Commercial Services face pressure. Reliance Industries rises 3% post-results, and RBL Bank buzzes on Emirates NBD stake acquisition news. Other notable stocks include Eternal Ltd., JSW Steel, Dalmia Bharat, and 360 ONE WAM.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are showing positive momentum at midday, with both the Nifty 50 and BSE Sensex registering gains of 0.52%.
Key Indices Performance
| Index | Current Price | Previous Close | Change | % Change |
|---|---|---|---|---|
| Nifty 50 | 25,842.65 | 25,709.85 | +132.80 | +0.52% |
| BSE Sensex | 84,390.03 | 83,952.19 | +437.84 | +0.52% |
Last updated: 12:00:43
Sectoral Performance
Top Performing Sectors
| Sector | Average % Change |
|---|---|
| Printing & Stationery | +7.59% |
| Banks | +3.78% |
| Engineering Services | +2.41% |
| Trading | +2.27% |
Top Losing Sectors
| Sector | Average % Change |
|---|---|
| Energy | -18.26% |
| Commercial Services | -16.94% |
| Financial Services | -11.16% |
| Retail | -10.66% |
| Realty | -10.58% |
Buzzing Stocks
Reliance Industries: The stock rose nearly 3% to Rs 1,460.00 in early trading following its quarterly results. A block trade of 341,839 shares was executed at Rs 1,463.70 per share, totaling Rs 50.03 crores.
Eternal Ltd. (formerly Zomato): The company received a GST demand order of over Rs 128 crore from Uttar Pradesh tax authorities for the period April 2023 to March 2024.
RBL Bank: The bank reported quarterly results with net interest income meeting expectations. Emirates NBD will acquire a 60% stake in RBL Bank through a preferential equity issue worth Rs 26,853 crore at Rs 280.00 per share.
JSW Steel: The company anticipates a substantial reduction of 30-35 million tons in Chinese steel output. Management confirmed its sales and production targets and expects annual capital spending of around Rs 20,000 crores.
Dalmia Bharat: The company revised its capital expenditure estimate to Rs 3,000 crores and projects capex at around Rs 4,000 crores.
360 ONE WAM: The company acquired over Rs 5,200 crores in assets under management from UBS India's business through 80+ ultra high net worth families.
Conclusion
The Indian markets are showing resilience at midday, with both benchmark indices up by 0.52%. While sectors like Printing & Stationery and Banks are leading the gains, Energy and Commercial Services sectors are facing significant pressure. Investors are closely watching the performance of key stocks like Reliance Industries and RBL Bank, which have made headlines with their recent developments and quarterly results.
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