FINAL TRADE: Sensex rises 567 pts; Nifty settles at 19,690, Coal India up 5%

Stock market today: Domestic equity indices on Tuesday, October 10, edged higher, in line with global stocks on easing US rate hike worries, while investors kept tabs on the military conflict in the Middle East.

At close, the S&P BSE Sensex was up 566.97 points, or 0.87 per cent, at 66,079.36, and the NSE Nifty was up 177.5 points, or 0.91 per cent, at 19,689.65.

Among the Nifty 50 stocks, 44 stocks advanced with Coal India, Bharti Airtel, Adani Ports, Kotak Mahindra Bank, and Hindalco being the top winner rising between 2.38 per cent and 5.07 per cent and 5 declined with IndusInd Bank, Cipla, Dr. Reddy's Labortatories, TCS and Titan were the top losers, slipping between 0.05 per cent to 0.7 per cent.. whereas one remained unchanged. 

Bharati Airtel, Kotak Mahindra Bank, and Tata Motors were the top contributors to the rise in the 30-scrip index.

Nifty Mid Cap 100 and Small Cap 100 settled positive.

On the sectoral front, Nifty Bank was up 1.08 per cent at 44,360.15.

BUZZING STOCKS 

Coal India shares were up over 5 per cent after Nuvama suggested the highest-ever dividend payout was possible.

Escorts Kubota's stock closed over 6 per cent higher after brokerage firm DAM Capital raised its target on the stock.

GMDC hit the upper circuit at 20 per cent on heavy volumes.

Prestige Estates shares settled over 8 per cent higher after the latest ANAROCK data shows that out of 1,16,220 units launched in Q3 2023 in the top 7 cities across various budget categories, approx. 27 per cent (approx. 31,180 units) were in the luxury category. This is the highest quarterly luxury supply entering the market in the last five years.

Shipping Corporation of India (SCI) ended nearly 2 per cent higher after its management, in an interview with Zee Business, said that the government will complete the disinvestment by FY24.

Conversely, Dr. Reddy's Laboratories shares were down 0.16 per cent and were among the Nifty losers after the company's subsidiary was named as a defendant in a complaint filed on October 6, 2023, in the United States District Court for the Northern District of California.

GM Breweries settled over 8 per cent lower after it posted weak September quarter results.

Dhampur Bio Organics was down over 7 per cent after it decided to keep the installation of the Greenfield distillery at Unit Meerganj on hold.

GLOBAL MARKETS 

Shares climbed Tuesday in Europe and Asia after Wall Street advanced on potentially encouraging news about interest rates, which have been dragging markets lower since the summer. The International Monetary Fund (IMF) warned Tuesday that the world economy is losing momentum in the face of higher interest rates, the war in Ukraine, and widening geopolitical rifts.

(with agency inputs)

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