Indian equity benchmarks Sensex and Nifty continued their winning streak for the third consecutive session on Wednesday, lifted by strong global cues and broad-based buying across sectors. A rally in IT and auto stocks, coupled with gains in heavyweight consumer names, propelled the Nifty 50 to close above the 25,850 mark.
The S&P BSE Sensex surged 594.81 points (0.71%) to close at 84,466.13. The NSE Nifty 50 also saw a solid rise, climbing 181.25 points (0.71%) to end the day at 25,876.20.
Key Market Highlights
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Sensex: Closed at 84,466.13, up by 595 points.
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Nifty 50: Ended the session above the 25,850 level.
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Market Sentiment: The mood on Dalal Street was bullish, with all sectoral indices ending in the green. The market was buoyed by optimism following a record-high close for the Dow Jones Industrial Average on Tuesday, driven by progress in ending the U.S. government shutdown.
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Broader Markets: The broader markets also participated in the rally, with the BSE Midcap and Smallcap indices ending on a positive note.
Top Gainers and Losers
Gains were led by IT, auto, and consumer discretionary stocks, while some metal and commercial vehicle stocks lagged.
| Top Gainers |
Top Losers |
| Asian Paints (+6.58%) |
Tata Steel (-1.29%) |
| Adani Enterprises (+6.0%) |
Tata Motors Commercial Vehicles |
| Tech Mahindra (+3.48%) |
|
| Tata Consultancy Services (TCS) (+2.56%) |
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| Bajaj Finserv (+2.49%) |
|
Busiest Day of Q2 Earnings Season
Wednesday was another packed day for corporate earnings, with several major companies announcing their results for the September quarter.
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Hindustan Aeronautics Ltd (HAL): The aerospace and defence company reported a 10.5% rise in its net profit to ₹1,669 crore for the second quarter.
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Pfizer: The pharmaceutical major posted a 19.4% increase in its Q2 profit.
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SpiceJet: The airline's loss for the second quarter widened to ₹621 crore.
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Container Corporation of India (CONCOR): The company reported a 3.6% year-on-year rise in its net profit to ₹378.7 crore and announced an interim dividend of ₹2.60 per share.
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BLS International: The company reported its highest-ever quarterly performance, leading to an 8.72% surge in its stock price.
IPO Market Heats Up
The primary market was buzzing with activity, with a major listing and several ongoing IPOs.
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Groww Listing: Discount broker Groww made a strong stock market debut, listing at a 12% premium over its IPO price. The stock surged further to close with a gain of 11%.
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PhysicsWallah IPO: The IPO of ed-tech firm PhysicsWallah saw a decent response on its second day of subscription, with the issue being subscribed 0.13 times so far.
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Tenneco Clean Air IPO: The IPO of automotive components manufacturer Tenneco Clean Air opened for public subscription today, November 12.
Sectoral Performance
All sectoral indices ended the day with gains, indicating a broad-based rally.
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Top Gainers: The IT - Software, Crude Oil & Natural Gas, and Sugar sectors were among the top performers, each gaining over 1.6%. The Trading and Shipping sectors also saw strong buying interest.
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Other Gainers: All other major sectors, including Banks, Finance, Pharmaceuticals, and Auto, ended in the green.
Frequently Asked Questions (FAQs)
Why did the market rally so strongly today?
The market's strong rally was driven by a combination of positive global cues, particularly a record high for the Dow Jones, and broad-based buying across sectors. Optimism about a potential India-U.S. trade deal and the end of the U.S. government shutdown also boosted investor sentiment.
Which sectors were the top performers?
The IT, Auto, and Consumer Discretionary sectors led the gains. All sectoral indices closed in the green, indicating a widespread rally.
What were the key Q2 results announced today?
HAL and Pfizer reported strong profit growth for the second quarter, while SpiceJet's loss widened. CONCOR also posted a modest rise in its quarterly profit and announced a dividend.
What's new in the IPO market?
Groww made a strong stock market debut with a 14% premium. The PhysicsWallah IPO is ongoing, and the Tenneco Clean Air IPO opened for subscription today.