Indian equity benchmarks ended a volatile week on a positive note, with the Sensex and Nifty 50 closing slightly higher on Friday. The market recovered in the final hour of trade, driven by gains in PSU banks and pharmaceutical stocks, which helped offset losses in the IT and metal sectors. The indices managed to snap a two-week losing streak, with both Sensex and Nifty gaining nearly 2% for the week.
The S&P BSE Sensex gained 84.11 points (0.10%) to close at 84,562.78, after swinging over 600 points during the session. The NSE Nifty 50 also saw a marginal gain, rising 47.15 points (0.18%) to end the week at 25,926.30.
Key Market Highlights
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Sensex: Closed at 84,562.78, up by 84 points.
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Nifty 50: Ended the week above the 25,900 mark.
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Market Sentiment: The market was volatile throughout the day, with investors remaining cautious amid weak global cues and ongoing vote counting for the Bihar assembly elections. The India VIX, a measure of market volatility, fell by 1.84% to 11.94, indicating a decrease in fear and uncertainty.
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Broader Markets: The broader markets outperformed the main indices, with the Nifty Midcap 100 rising by 0.08%.
Top Gainers and Losers
Gains in PSU banks and select mid-cap stocks were offset by losses in IT and metal heavyweights.
| Top Gainers |
Top Losers |
| Tata Motors CV (+2.9%) |
Infosys (-2.33%) |
| Eternal (Zomato) (+2.15%) |
Eicher Motors (-2.27%) |
| Bharat Electronics (+1.6%) |
Tata Steel (-1.50%) |
| Axis Bank (+1.57%) |
HDFC Life (-1.27%) |
| Trent (+1.52%) |
Tata Motors PV (-1.27%) |
Busiest Day of the Q2 Earnings Season Wraps Up
Friday marked the end of a very busy week for corporate earnings, with over 900 companies announcing their results for the September quarter.
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Hero MotoCorp: The two-wheeler giant reported a 23.9% year-on-year rise in its consolidated net profit to ₹1,321 crore, supported by strong festive season demand.
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Eicher Motors: The company posted its strongest-ever quarterly performance, with a 25% year-on-year increase in its consolidated net profit to ₹1,369 crore.
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MRF: The tyre major announced a 12.3% jump in its quarterly profit to ₹5.12 billion on the back of strong demand from automakers.
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Marico: The FMCG company's net profit slipped marginally, but its revenue surged by 30.7%, driven by strong growth in its international business.
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Muthoot Finance: The gold loan NBFC reported a massive 87% surge in its quarterly profit to ₹2,345 crore.
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Natco Pharma: The pharmaceutical company's consolidated net profit fell by 23.4% due to lower oncology sales.
IPO Market Buzz
The primary market was abuzz with several IPOs closing for subscription and new ones opening.
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Pine Labs Listing: Fintech unicorn Pine Labs made a strong stock market debut, closing with a 14% premium over its IPO price. The stock listed at a premium and gained further during the day.
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Tenneco Clean Air IPO: The IPO of automotive components manufacturer Tenneco Clean Air closed for public subscription today, November 14.
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Capillary Technologies IPO: The IPO of Capillary Technologies, a customer loyalty and engagement solutions provider, opened for public subscription today. The company aims to raise ₹877.50 crore through the issue.
Sectoral Performance
It was a day of mixed sectoral performance, with PSU banks leading the gains.
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Top Gainers: The Nifty PSU Bank index was the top performer, rising by 1.17%. The Pharma, FMCG, Private Bank, and Consumer Durables indices also ended in the green.
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Top Losers: The Nifty IT index was the biggest laggard, falling by 1.03%. The Metal, Auto, and Realty sectors also ended with losses.
Frequently Asked Questions (FAQs)
Why did the market close higher today despite the volatility?
The market's positive close was driven by a recovery in the final hour of trade, led by strong buying in PSU banks and pharmaceutical stocks. This helped offset earlier losses caused by weak global cues and caution ahead of the Bihar election results.
How did the market perform for the week?
The market ended a two-week losing streak, with both the Sensex and Nifty 50 gaining nearly 2% for the week. The gains were driven by strong corporate earnings and a recovery in investor sentiment.
What were the key Q2 earnings announced today?
Hero MotoCorp, Eicher Motors, and MRF all reported strong growth in their quarterly profits, driven by robust festive season demand. Muthoot Finance also posted a massive surge in its profit.
What's new in the IPO market?
Pine Labs made a strong stock market debut with a 14% premium. The IPO of Tenneco Clean Air closed for subscription, and the IPO of Capillary Technologies opened today.