Indian equity benchmarks ended a volatile session on a flat note Thursday, with the Sensex and Nifty 50 showing marginal gains. While a late-session recovery helped the indices pare earlier losses, the broader market underperformed, with mid-and small-cap stocks facing selling pressure.
The S&P BSE Sensex closed at 84,478.67, up by a mere 12.16 points (0.01%), after swinging between a high of 84,919.43 and a low of 84,213.29. The NSE Nifty 50 ended with a gain of 3.35 points (0.01%) at 25,879.15.
Key Market Highlights
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Sensex: Closed with a negligible gain of 12.16 points at 84,478.67.
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Nifty 50: Ended flat with a gain of 3.35 points at 25,879.15.
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Market Sentiment: The market witnessed high volatility throughout the day, with a tussle between bulls and bears. While a late recovery was seen, the overall sentiment remained cautious, with declines outnumbering advances on the broader market.
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Broader Markets: The BSE Midcap and Smallcap indices underperformed, indicating profit-booking in these segments.
Top Gainers and Losers
Gains in select large-cap stocks like Asian Paints and Hindalco were offset by losses in auto and some private bank stocks.
| Top Gainers |
Top Losers |
| Asian Paints (+4.0%) |
Eternal Ltd. (-3.69%) |
| Hindalco Industries (+2.47%) |
Tata Motors CV (-2.84%) |
| InterGlobe Aviation (+1.99%) |
Mahindra & Mahindra (-1.46%) |
| ICICI Bank (+1.95%) |
Eicher Motors (-1.20%) |
| Larsen & Toubro (+1.27%) |
Tata Steel (-1.15%) |
Busiest Day of Q2 Earnings Season
Thursday marked a very busy day for corporate earnings, with nearly 701 companies announcing their results for the September quarter.
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Eicher Motors: The automaker reported a strong 25% year-on-year increase in its consolidated net profit, driven by robust sales of its Royal Enfield motorcycles.
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Bharat Dynamics: The defence PSU posted a remarkable 76% surge in its net profit to ₹1,294.67 crore.
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Cochin Shipyard: The company's stock fell sharply after it reported a 43% decline in its consolidated net profit.
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LG Electronics India: The newly listed consumer electronics giant was in focus as it announced its first quarterly results since its IPO. The stock gained nearly 3% ahead of the announcement.
IPO Market Update
The primary market was abuzz with several IPOs closing for subscription and a new one opening.
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PhysicsWallah IPO: The IPO of ed-tech firm PhysicsWallah sailed through on its final day of subscription, driven by strong interest from qualified institutional buyers (QIBs). The grey market premium (GMP) for the IPO, however, remained flat.
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Pine Labs IPO: The fintech company's IPO closed today, with details of its final subscription awaited.
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Emmvee Photovoltaic IPO: The IPO of the solar panel manufacturer also closed for public subscription today.
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Fujiyama Power Systems IPO: The IPO of Fujiyama Power Systems opened for subscription today, November 13.
Sectoral Performance
It was a day of mixed sectoral performance.
Frequently Asked Questions (FAQs)
Why did the market end flat today?
The market's flat close was the result of a highly volatile session, with a late-session recovery helping to pare earlier losses. While some large-cap stocks saw gains, the broader market underperformed due to profit-booking.
Which sectors were the most active?
The Edible Oil and Cement sectors were the top gainers, while the Telecom and Dry Cells sectors were the biggest losers.
What were the key Q2 results announced today?
Eicher Motors reported a strong 25% jump in its quarterly profit, and Bharat Dynamics saw a massive 76% surge in its net profit. In contrast, Cochin Shipyard's profit declined significantly.
What's new in the IPO market?
The PhysicsWallah IPO was fully subscribed on its final day. The IPOs of Pine Labs and Emmvee Photovoltaic also closed today, while the Fujiyama Power Systems IPO opened for subscription.