NewsMarketsMarkets at Noon: Nifty and Sensex Inch Higher as Jewellery and Engineering Sectors ShineMarkets at Noon: Nifty and Sensex Inch Higher as Jewellery and Engineering Sectors Shine
Indian markets show positive momentum at midday with Nifty 50 up 0.38% and Sensex gaining 0.31%. Diamond, Gems and Jewellery sector leads with 3.64% growth, while Commercial Services faces a 17.35% decline. Buzzing stocks include Wipro, Axis Bank, Eicher Motors, and ICICI Group with significant trades and corporate actions. Tata Motors plans new SUV launch, L&T secures major orders, and Nestle India announces workforce reduction.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are showing positive momentum at midday, with both benchmark indices trading in the green. The Nifty 50 is currently at 26,035.70, up 99.50 points or 0.38% from its previous close. Similarly, the BSE Sensex is trading at 84,892.02, registering a gain of 263.86 points or 0.31%.
Sectoral Performance
The market is witnessing a mixed performance across sectors:
Top Performing Sectors
| Sector | Average % Change |
|---|---|
| Diamond, Gems and Jewellery | 3.64 |
| Engineering Services | 3.44 |
| Transport | 1.54 |
| Castings, Forgings & Fasteners | 1.48 |
| Cables | 1.48 |
Top Losing Sectors
| Sector | Average % Change |
|---|---|
| Commercial Services | -17.35 |
| Forest Materials | -14.65 |
| Financial Services | -12.83 |
| Realty | -12.03 |
| Energy | -11.69 |
Buzzing Stocks
Several stocks are making headlines in today's trading session:
Wipro Limited: The company has allotted 42,156 equity shares under its employee stock option plans.
Axis Bank: Executed a block trade of approximately 979,254 shares at ₹1,240.20 per share, totaling ₹121.45 crores.
Eicher Motors: Completed a block trade of about 82,198 shares at ₹6,983.50 per share, amounting to ₹57.40 crores.
ICICI Group: Two significant block trades were executed:
- ICICI Prudential Life Insurance: ₹75.59 crores for 1,246,853 shares at ₹606.25 per share.
- ICICI Bank: ₹110.84 crores for 812,137 shares at ₹1,364.80 per share.
Mahindra & Mahindra Financial Services: Reported a 45% increase in net profit to ₹564 crore for Q2, with net interest income rising 14.6% to ₹2,279 crore.
Tata Motors: Plans to launch the new-generation Sierra SUV on November 25, positioned between the Curvv and Harrier models.
Larsen & Toubro: Shares reached a 52-week high of ₹4,016.70, gaining about 1% ahead of its Q2 earnings announcement. The company also secured grid infrastructure orders in Saudi Arabia valued between ₹2,500-5,000 crore.
HDFC Bank: Allotted 1,29,94,998 equity shares to employees under its Employee Stock Options Schemes and Restricted Stock Units.
Nestle India: Announced plans to reduce its workforce by 6% as part of global organizational changes.
Conclusion
As the trading day progresses, the Indian markets are showing resilience with positive gains in the benchmark indices. The Diamond, Gems and Jewellery sector is leading the gains, while Commercial Services faces the steepest decline. Investors are closely watching the performance of key stocks and awaiting further market developments.
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