Stock market today: Domestic equity benchmarks Nifty 50 and Sensex registered mild gains on Friday amid buying interest in financial and FMCG stocks, though losses in auto and IT shares played spoilsport and limited the upside. It was a volatile day on Dalal Street amid mixed cues from global markets. 

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Both headline indices rose 0.1-0.2 per cent for the day. The Nifty 50 rose 30.1 points for the day to end at 19,425.4 and the Sensex and settled at 64,904.7, up 72.5 points from its previous close.

The Nifty Bank finished the day 0.3 per cent stronger at 43,820.

NTPC, ONGC, Tata Consumer Products, Tech Mahindra, Bajaj Finance, ITC, HDFC Life and Axis Bank, finishing around 1-2 per cent higher, rose the most among the 30 gainers in the Nifty basket. 

On the other hand, Hero MotoCorp, Mahindra & Mahindra, HCL Tech, Titan, Hindalco, Apollo Hospitals and Dr Reddy's, falling around 1-2 per cent for the day, were the top laggards. 

HDFC Bank, NTPC and Axis Bank were the biggest contributors to the gain in the 30-scrip gauge, whereas M&M, Infosys and TCS were the biggest drags.

"The benchmark index is taking cues from the global market as the US central bank is not confident that headline inflation is under control and bond yields are mounting higher. Despite these concerns, the market has displayed strong resistance, anticipating that India's October inflation will be manageable and upside revision is expected for Q1FY24 GDP growth," said Vinod Nair, Head of Research at Geojit Financial Services.

“Selective buying helped markets end marginally higher despite other Asian and European counterparts struggling on the back of selling pressure. Foreign fund outflows from the domestic market have been of concern," said Prashanth Tapse, Senior VP (Research) at Mehta Equities. "Also, the volatile US treasury yields have been prompting overseas investors to exit emerging markets over the past few months,” he added.

Stock exchanges will conduct a special, one-hour trading session, known as the ‘muhurat’ trading session, on the day of Diwali on November 12, marking the beginning of Samvat 2080, the New Year as per the Vikrami calendar. The muhurat trading session this year is scheduled to be held from 6 pm to 7:15 pm, on Sunday, November 12.

Global markets

European shares began the day in the red, hurt by higher bond yields, as hawkish comments from the Federal Reserve Chair poured cold water on investor optimism around a peak in interest rates. The pan-European STOXX 600 was down 0.8 per cent at the last count, having retreated from a three-week high hit the previous day, on track for a second back-to-back weekly gain aided by a handful of upbeat earnings. Wall Street was set for a mixed start on Friday, with Dow Jones futures up 0.1 per cent, but S&P 500 futures flat, and Nasdaq Composite futures down 0.2 per cent. 

With inputs from agencies

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