Markets at Noon: Nifty and Sensex Climb as Cables Sector Surges
By ScanX News Team
Indian stock markets show positive momentum at midday, with Nifty 50 up 0.51% at 25,210.80 and BSE Sensex gaining 0.46% to 82,635.65. Cables sector leads with a 3.57% gain, while Printing & Stationery underperforms at -2.02%. Tejas Networks is in focus, trading down 5.71% after reporting a Q1 net loss, but remains optimistic about future growth prospects.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are showing positive momentum at midday, with both major indices trading in the green. The Nifty 50 is currently at 25,210.80, up 128.50 points or 0.51% from its previous close. Similarly, the BSE Sensex is trading at 82,635.65, registering a gain of 382.19 points or 0.46%.
Sectoral Performance
Top Performing Sectors
| Sector | Avg. Per Change |
|---|---|
| Cables | 3.57% |
| Castings, Forgings & Fasteners | 2.77% |
| Diamond, Gems and Jewellery | 2.44% |
| Transport | 1.38% |
Underperforming Sectors
| Sector | Avg. Per Change |
|---|---|
| Printing & Stationery | -2.02% |
| Energy | -0.39% |
| Insurance | -0.11% |
Buzzing Stocks
Tejas Networks is in focus today, trading at ₹658.50, down 5.71%. The company reported a net loss of ₹194.00 crore in Q1, compared to a profit of ₹77.00 crore in the same quarter of the previous year. Revenue declined 87% year-over-year to ₹202.00 crore, with the company citing delays in purchase orders, including from BSNL, for the revenue shortfall.
Despite the setback, Tejas Networks remains optimistic about future growth. The company has signed strategic partnerships with Rakuten Symphony, Intel, and mobile phone manufacturers for various initiatives. They expect to collect a significant portion of receivables in the current financial year and complete a BSNL expansion order worth ₹1,500.00 crore.
Conclusion
As the trading session reaches its midpoint, the Indian markets are showing resilience with both Nifty and Sensex in positive territory. The Cables sector is leading the gains, while Printing & Stationery faces the most significant downturn. Investors are closely watching Tejas Networks as it navigates through challenging quarterly results while maintaining a positive outlook for future growth.
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