Sensex Today Ends 72 Points Higher | Nesco Rallies 12% | NTPC & ONGC Top Gainers

Fri, 10 Nov Closing

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After opening the day on negative note, Indian share markets gained momentum as the session progressed and ended the day higher.

Weak global sentiment kept markets in the negative zone for better part of the day on Friday, but fag-end buying in HDFC Bank, NTPC, Axis Bank, ITC, Bajaj Finance, Reliance Industries, and L&T helped benchmark indices settle higher.

The stock markets (NSE and BSE) will open for an hour for Diwali muhurat trading on 12 November 2023 (Sunday). As per the notice by BSE and NSE, the symbolic trading session will be held between 6 pm and 7.15 pm. This includes a 15-minute pre-market session.

At the closing bell, the BSE Sensex stood up by 72 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 30 points (up 0.2%).

NTPC, ONGC and Tech Mahindra were among the top gainers today.

Hero MotoCorp, HCL Tech and Titan on the other hand, were among the top losers today.

The GIFT Nifty was trading at 19,487, up by 65 points, at the time of writing.

Broader markets ended on positive note on Friday. The BSE MidCap index and BSE SmallCap index ended higher by 0.3%.

Sectoral indices ended mixed with stocks in the power sector, finance sector and metal sector witnessing most of the buying. Meanwhile stocks in auto sector, IT sector and oil and gas sector witness selling.

Shares of Solar Industries, KPIT Technologies, Sonat Software 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 ended 0.5% lower, while the Nikkei index ended 0.2% lower. Meanwhile Hang Seng ended 1.8% lower.

The rupee is trading at 83.4 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 60,024 per 10 grams.

Meanwhile, silver prices are trading 0.7% lower at Rs 70,695 per 1 kg.

Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah talks about should one take more exposure to stocks right now or wait for the markets to correct further, in his latest video

Moreover, was today's recovery a dead cat bounce or is the worse behind us and the market may make a new high in the coming months?

Tune in for more.

Hindalco Q2 Results

In news from the steel sector, Aditya Birla Group flagship Hindalco Industries Limited reported consolidated net profit for Q2 FY24 at Rs 21.9 bn, missing street estimates. Hindalco's Q2 net was almost flat compared to Rs 22.1 bn in the same quarter the previous year.

Consolidated revenue from operations for the company fell 3.6% on-year to Rs 541.7 bn, as against Rs 561.8 bn a year ago; revenue increased 2% from Rs 529.9 bn recorded in the previous quarter.

During the July-September quarter, the company benefited from falling coal prices, coupled with recovery in consumer durables as destocking activity subsided, cushioning the profits.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter was at Rs 60.9 bn, up 6%.

The sustainable aluminium solutions provider saw sequential improvement in Adjusted EBITDA, driven by initial demand recovery in the unit's core beverage packaging sheet end market.

On November 7, the company reported an Adjusted EBITDA of US$ 484 million (m) for Q2FY24 compared with US$ 479 reported in the previous quarter.

However, it dropped 4% YoY, primarily driven by lower shipments, less favourable metal benefits from recycling, and a prior year's favourable impact from capitalising high operating costs into inventory.

Hindalco Industries is an Indian aluminium and copper manufacturing company. The company is a subsidiary of the Aditya Birla Group.

With a huge cash balance of Rs 116.3 bn, it is among the 5 Indian Companies with insane cash reserves to watch out for big dividends.

HAL Q2 Results

Moving on to news from the defence sector, public sector aerospace and defence company Hindustan Aeronautics (HAL) on Friday reported a marginal year-on-year (YoY) rise in consolidated net profit at Rs 12.4 bn for the July to September quarter. The same was Rs 12.2 bn in the corresponding quarter of last fiscal.

Consolidated revenue from operations rose 9.5% on-year to Rs 56.4 bn in the quarter under review, compared to Rs 51.4 bn in September 2022.

Total expenditure rose 18% on-year to Rs 44.6 bn during the period under review. It was Rs 37.8 bn in the year-ago quarter.

EBITDA (Earnings Before Interest Tax Depreciation and Amortisation), also known as operating profit, fell 5.8% on-year to Rs 15.3 bn in the second quarter.

HAL is engaged in carrying out the design, development, manufacture, repair and overhaul of aircraft, helicopters, engines and related systems like avionics, instruments and accessories primarily serving the Indian defence programme.

As of 30 September 2023, the Government of India held a 71.64% stake in the company.

HAL has paid two interim dividends of Rs 20 each for the financial year 2023, making it among the top defence stocks which pay good dividends.

HAL is the perfect combination of dividend and growth. For more, check out the Top 5 High Dividend Yield PSU Stocks Growing at Amazing Speed.

Warren Buffett's favorite type of businesses are the ones that have huge economic moats which are near-monopolies in the industries they operate in. HAL is one among them.

For more, check out Top 5 Monopoly Stocks to Watch Out in 2024.

And 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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Indian Share Market Update: Top Gainers and Losers