Markets at Noon: Nifty and Sensex Edge Higher, Utilities Lead Gains
By ScanX News Team
Indian markets are trading positively at midday, with Nifty 50 up 0.43% and Sensex up 0.35%. Utilities sector leads gains at 0.96%, while Cables sector faces the largest downturn at -2.13%. Baazar Style Retail and GMDC are top performers, up 8.66% and 8.48% respectively. Despite positive results, stocks like Shakti Pumps and Narayana Hrudayalaya face declines. Overall, markets show resilience amid mixed individual stock performances.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are trading in positive territory at midday, with both benchmark indices showing gains. The Nifty 50 is currently at 24,671.60, up 106.25 points or 0.43% from its previous close. Meanwhile, the BSE Sensex stands at 80,880.90, registering an increase of 280.99 points or 0.35%.
Sectoral Performance
Top Performing Sectors
| Sector | Avg. Per Change |
|---|---|
| Utilities | 0.96% |
| Metals & Mining | 0.85% |
| Aerospace & Defense | 0.74% |
Top Losing Sectors
| Sector | Avg. Per Change |
|---|---|
| Cables | -2.13% |
| Diamond, Gems and Jewellery | -1.96% |
| Castings, Forgings & Fasteners | -1.65% |
Buzzing Stocks
Baazar Style Retail Ltd: The stock is up 8.66% at ₹292.50 after reporting a net profit of ₹21 million in Q1, compared to a loss in the same period last year. Revenue grew to ₹3.80 billion from ₹2.75 billion year-over-year.
GMDC: Shares are trading 8.48% higher at ₹414.30 following news that the government has increased its rare earth investment plan for the company to ₹5000 crore, up from the previous ₹1350 crore.
Shakti Pumps India: Despite positive quarterly results, the stock is down 6.75% at ₹833.00. The company reported a 4.5% increase in net profit and 9.7% growth in revenue for Q1.
Narayana Hrudayalaya Ltd: The stock is trading 7.37% lower at ₹1802.20 despite reporting a 15.4% year-over-year increase in consolidated operating revenues for Q1.
Sangam India: Shares are down 7.53% at ₹385.20 after reporting a 66% decline in Q1 net profit to ₹43 million, despite revenue growth.
Conclusion
As the trading session reaches its midpoint, the Indian markets are showing resilience with both Nifty and Sensex in the green. The Utilities sector is leading the gains, while Cables face the most significant downturn. Individual stocks are showing mixed performance, with some companies seeing sharp movements despite positive financial results.
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