Markets at Noon: Nifty and Sensex Edge Higher Amid Mixed Corporate News
Indian stock markets display a positive trend at midday with Nifty 50 up 0.17% and BSE Sensex gaining 0.28%. Buzzing stocks include Axis Bank with strong credit card spending growth, Apollo Micro Systems' equity share allotment, Mahindra & Mahindra's electric SUV launch, Studds Accessories' profit increase, and Panorama Studios International's shareholder approvals. The market shows modest gains despite mixed corporate news, with investors closely watching developments in automotive and banking sectors.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are showing a positive trend at midday, with both benchmark indices trading in the green.
| Index | Current Price | Change | % Change |
|---|---|---|---|
| Nifty 50 | 26,250.40 | 45.10 | 0.17% |
| BSE Sensex | 85,846.71 | 237.20 | 0.28% |
Last updated at 12:00 PM
Buzzing Stocks
Several companies are making headlines today:
Axis Bank
The bank reported strong double-digit growth in credit card spending for October, indicating robust consumer activity in key segments.
Apollo Micro Systems
The company allotted 1.21 crore equity shares upon conversion of warrants, raising ₹103.86 crores and increasing its paid-up capital.
Mahindra & Mahindra
Launched the XEV9S, India's first electric 7-seater SUV, with prices ranging from ₹19.95 lakh to ₹29.45 lakh. The company plans to invest ₹6,500 crore in Electric Origin SUVs.
Studds Accessories
Reported strong quarterly results with consolidated net profit rising to ₹206 million from ₹175 million year-over-year. The company also established a new operational unit in Spain.
Panorama Studios International
Shareholders approved key resolutions including a bonus issue and increase in authorized share capital at the recent EGM.
Conclusion
The markets are showing resilience with modest gains at midday, despite mixed corporate news. Investors are closely watching developments in various sectors, particularly in the automotive and banking space, which could influence market sentiment in the afternoon session.
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