Sensex Today Zooms 595 Points | Nifty Above 19,400 | Divi's Labs, L&T, Eicher Motors Top Gainers

Mon, 6 Nov Closing

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After opening the day higher, Indian share markets extended gains as the session progressed and ended on a strong note.

Benchmark indices continued to rally for the third straight session amid favourable trends in global markets.

The US Fed's dovish tone last week has triggered a relief rally in Indian equities.

At the closing bell, the BSE Sensex stood higher by 595 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 181 points (up 0.9%).

L&T, Axis Bank and Power Grid were among the top gainers today.

SBI, Tata Motors and Titan, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 19,467, up by 35 points, at the time of writing.

The BSE MidCap index gained 0.9% while the BSE SmallCap index ended higher by 1%.

Barring consumer durables, all sectoral indices ended in green with stocks in the metal sector, energy sector and healthcare sector witnessing most of the buying.

Shares of Sanofi India, Crisil and Dr Lal PathLabs 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...

Asian share markets ended in the positive territory. The Shanghai Composite gained 0.9% while the Nikkei advanced 2.3%.

The rupee is trading at 83.18 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 60,741 per 10 grams.

Speaking of stock markets, Co-head of Research at Equitymaster Tanushree Banerjee talks about the possibility of Sensex at 50,000 in 2024, in her latest video.

With most of the positives priced in, any negative shocker, especially like the macro variables, could cause a huge dent in the index next year.

Watch the below video for more:

Divi's Labs Q2 Results/

In news from the healthcare sector, Divi's Labs today posted a 29% fall in its consolidated net profit at Rs 3.5 bn for the quarter ended September 2023.

Revenue from operations rose 3% year-on-year (YoY) to Rs 19.1 bn in the July-September period.

For the quarter under review, the company had a forex gain of Rs 110 million as against a gain of Rs 310 million during the corresponding quarter of last year.

For the half-year ended September 2023, the company earned a consolidated total income of Rs 38.5 bn, showing a decline of 18%.

Shares of the company spiked over 5% today and closed near the day's high.

Adani to Exit Wilmar?

Moving on, the Adani Group is in talks with multiple multinational consumer goods companies to sell its entire 43.97% stake in Adani Wilmar, which owns the Fortune brand of edible oils and packaged grocery.

Reportedly, a deal is likely to be finalised within a month.

The group is expecting US$2.5-3 billion for the stake in the joint venture with Singapore-based Wilmar International, which too owns 43.97% of the company.

According to reports, this move will help the group exit a few businesses to invest more deeply in core focus areas such as infrastructure.

Adani Wilmar is one of the largest players in the edible oil segment. In FY23, the company reported a net profit of Rs 6.1 bn on revenue of Rs 552.6 bn.

Since months, the Adani group is looking to pare stakes in non-core assets to create a liquidity buffer, after the Hindenburg short-seller report on the group earlier this year led to the sudden pullout of a proposed share sale in the flagship Adani Enterprises.

Adani Wilmar share price ended the day 2% lower on the BSE.

How Realty Players are Cashing in on a New Opportunity

Indian real estate developers are putting electric vehicle (EV) chargers in parking slots of new developments, hoping to boost the value of the property and attract more buyers in India where the charging infrastructure can't keep up with soaring EV sales.

India is aiming to make EVs account for a third of total vehicle sales by 2030, but scarcity of public charging stations could derail these ambitions.

Currently, there are 435 EVs for every public charging station nationwide, according to power ministry data, in contrast to the US, which has 26 EVs per charger, data from the Alliance for Automotive Innovation shows.

Sobha and Prestige Estates are using this shortage to their advantage, betting that EV chargers in residential properties will make clients pay a premium for units like swimming pools used to in the past.

Sobha has gone a step further and launched two residential projects in Bengaluru with EV charging facilities in all available parking slots.

Mahindra Lifespace, Kolte Patil, Brigade and DLF are among other players betting on this trend.

It remains to be seen how these development pans out as India becomes a force to reckon with and goes on the roadmap of 10 million EVs a year by 2030.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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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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