FIRST TRADE: Sensex, Nifty subdued at open, BPCL up over 1%

Stock market today: The Indian share market on Wednesday, November 8, opened in positive territory amid buying in all sectoral counters, but minutes later pared gains and turned flat.

Last seen, the S&P BSE Sensex was up 65.72 points, or 0.10 per cent, at 65,008.12, and the NSE Nifty was up 32.7 points, or 0.17 per cent, at 19,439.4.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 opened over half a per cent higher.

High-beta Nifty Bank was up 0.09 per cent at 43,776.4.

BUZZING STOCKS 

HPCL shares traded over 6 per cent higher after Nomura raised its target price on the stock.

Prestige Estate Projects shares were up nearly 6 per cent, a day after the company announced its September quarter results.

Apollo Tyres shares were up over 5 per cent a day after it announced its Q2 results.

Alkem Laboratories shares were up over 3 per cent a day after the company posted its Q2 results.

Deepak Nitrite shares were up over 2 per cent, a day after the company reported Q2 numbers.

Zydus Lifesciences shares were up over 2 per cent after CLSA and Jefferies raised target price.

Cochin Shipyard shares were up 2 per cent after the company posted its Q2 numbers.

Conversely, Rain Industries shares slipped over 4 per cent after the company posted weak Q2 results.

Mishra Dhatu Nigam shares were down over 3 per cent a day after posting its September quarter results.

GLOBAL MARKETS 

U.S. stocks rose on Tuesday, with the S&P 500 and Nasdaq notching their longest streak of gains in two years, as a retreat in U.S. Treasury yields buoyed megacap growth stocks while investors sought more clarity on interest rates from the Federal Reserve.

The benchmark 10-year Treasury note yield was on pace for its fifth decline in six sessions on expectations that the Fed is done with its rate hike cycle. Yields extended losses after a solid auction of $48 billion in 3-year notes, with auctions of the 10-year note and 30-year bond due later this week.

(With agency inputs) 

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