Sensex Today Rallies 694 points | Nifty Above 24,200 | 3 Reasons Why Indian Share Market is Rising

Tue, 5 Nov Closing

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After opening the day higher, Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.

India stock market saw a sharp recovery from day's low on Tuesday, with both the benchmark indices trading more than half percent higher, supported by rally in broader markets.

Sensex jumped over 1,100 points from day's low and Nifty 50 traded near the 24,200 level on November 5, rebounding from early morning losses.

At the closing bell, the BSE Sensex stood higher by 694 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 217 points (up 0.9%).

JSW Steel, Hindalco and Axis bank among the top gainers today.

ITC, Coal India and Trent on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,293 up by 172 points at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.5% higher and BSE SmallCap index ended 0.4% higher.

Sectoral indices were trading mixed with socks in metal sector, banking sector and finance sector witnessing most buying speer. Meanwhile stocks in FMCG sector and IT sector witnessing selling pressure.

NALCO, P&G Health and Gillette India hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 84.11 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 78,441 per 10 grams.

Meanwhile, silver prices were trading 0.3% higher at Rs 94,566 per 1 kg.

Here are the three key factors drive the market's momentum.

#1 Index Heavyweights Rally

Bank Nifty index also witnessed a sharp recovery of more than 1,300 points from day's lowest level led by gains in HDFC Bank, Axis Bank, IndusInd Bank, and SBI stocks, which rose over 2% each.

#2 Sectoral Trend

Among sectors, Nifty Metals, Nifty Private Bank, Nifty Auto and Nifty Realty saw strong gains upto 2%. while Nifty FMCG and Nifty Media were still trading in the red.

#3 Crude Oil

US crude oil edged lower on Tuesday, one day after posting the worst daily loss in two years.

Energy traders have breathed a sigh of relief this week after Israel's long-anticipated retaliatory strikes on Iran last Friday spared the Islamic Republic's oil and nuclear facilities. The benchmark U.S. crude oil contract sold off more than 6%, or US$ 4.4, to $67.38 per barrel on Monday.

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Hatsun Agro Products Bounces Back 12%

In news from the food & tobacco sector, shares of Agro Products staged a strong rebound and surged over 12% on 5 November, a day after the stock took a 4% plunge on the back of its weak quarterly show.

At 1.54 pm, shares of Hatsun Agro Products were trading at Rs 1,156.40 on the NSE.

The upswing was also aided by a sharp uptick in trading volumes on the counter.

As much as eight lakh shares changed hands on the exchanges so far, significantly higher than the one-month daily traded average of 60,000 shares.

With this move, the stock is also up over 12% for the week.

Hatsun Agro's Q2 earnings report showcased a 17% year-on-year decline in net profit, falling to Rs 643.2 m from Rs 775.7 m in the same period last year. Meanwhile, revenue from operations in Q2FY25 grew over 8% year-on-year to Rs 20.7 bn compared to Rs 19.1 bn in Q2FY24.

Despite the weak bottom line, the company managed to improve its operational performance in Q2. Its EBITDA margin expanded 15 basis points on year in Q2, despite a high base of the year-ago period.

Greenply Industries Zooms 10%

Moving on, shares of Greenply Industries zoomed around 10% on 5 November, the most in 8 months, amid a sharp surge in volumes.

So far in the day, 14 lakh shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 3 lakh equity shares.

The stock is currently trading higher than its 5-day, 100-day, and 200-day moving averages, but lower than its 20-day and 50-day moving averages, indicating a mixed trend in the short term.

Recently, Greenply Industries announced its Q2FY25 results, revealing a robust performance with a 5.4% on-year increase in revenue and a notable 26.7% YoY surge in net profit.

Despite these positive YoY figures, the company faced some challenges sequentially. Revenue saw QoQ growth of 9.7%, but profit experienced a significant decline of 46.7%, highlighting the volatility in the industry and the impact of rising operational costs.

The company's Selling, General, and Administrative (SG&A) expenses rose by 12.5% QoQ and 5.8% YoY, contributing to the profit decline in the quarter.

Greenply Industries' operational income saw a minor dip of nearly 1% compared to the previous quarter but recorded a solid 21.2% increase year-on-year, reflecting a positive long-term trend despite short-term challenges.

Earnings per share (EPS) reached Es 1.41 in Q2, up an impressive 25.9% YoY.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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