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PremiumStock Market Updates | Sensex Today: The domestic benchmark indices, Nifty 50 and Sensex, rose on Wednesday, achieving their largest single-day increase in more than six weeks after Donald Trump declared victory in the US presidential election, which analysts viewed as a short-term boost for domestic stocks.
The Nifty 50 climbed 1.12% to reach 24,484.05, while the Sensex increased by 1.13% to 80,378.13. Both indices recorded their strongest performance since September 20. This positive movement followed a decline of around 7% from the all-time highs recorded on September 27, attributed to unprecedented foreign outflows in October and lackluster corporate earnings.
Sensex and Nifty 50, extended rally on Wednesday as Donald Trump claimed victory in the US Presidential election 2024. Donald Trump is set to be the 47th President of the world’s largest economy. All the sectoral indices were trading in the green led by IT, Realty, Auto, Metals and PSU Banks. Broader markets, Nifty Midcap 100 and Nifty Smallcap 100 outperformed the fronline indices, gaining over 1.9% each. Stay tuned to our Stock Market Live Blog for the latest updates.
Over 200 stocks, including Coforge, City Union Bank, Deepak Fertilisers, eClerx Services, Gillette India, Mankind Pharma and National Aluminium Company, hit their fresh 52-week highs in intraday trade on BSE.
Shares of TCS, Infosys, Tech Mahindra, HCL Tech and Adani Ports ended as the top gainers in the Sensex index. On the flip side, shares of Titan, IndusInd Bank, Hindustan Unilever, Axis Bank and HDFC Bank ended as the laggards in the index.
The overall market capitalisation of BSE-listed firms rose to nearly ₹453 lakh crore from nearly ₹445 lakh crore in the previous session, making investors richer by about ₹8 lakh crore in a single session.
The rupee fell by 21 paise to reach a record low of 84.30 against the US dollar on Wednesday, as the US Dollar index strengthened with Donald Trump poised to win the US Presidential elections.
According to Prashanth Tapse, Senior Vice President of Research at Mehta Equities, the Wall Street index futures run out of gate as Trump predicts ‘golden age’ for America. Investors across globe celebrate the election victory of Donald Trump. The future of Wall Street looks brighter as Trump’s second term as US President ignites optimism as markets anticipate a blend of pro-business policies and economic shifts set to shape the global financial landscape anew.
The domestic benchmark indices, Nifty 50 and Sensex, showed a positive response on Wednesday to the anticipated win of Republican candidate and former US president Donald Trump in the US presidential elections.
The Nifty 50 ended on a positive note at 24,484.05, gaining 270.75 points or 1.12 percent, while the BSE Sensex stood at 80,378.13, up by 901.50 points or 1.13 percent.
"Given his "America First" approach to trade policy, a Trump victory might have a big effect on the Indian market. Increased tariffs and protectionism could result from this, which could hurt India's exports to the US. Furthermore, a Trump government may be less enthusiastic about the commercial connection between the US and India, which might have an impact on collaboration and investment in fields like technology and defense. However, a Trump victory might also result in more energy cooperation, especially given India's expanding energy requirements," said Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd.
Futures for US equity indexes have continued to rise as the signs coming out of the nation are becoming more evident that Donald Trump is poised to be the 47th President of the United States. If elected, this would mark Trump's second term, following his previous one from 2016 to 2020.
According to Raj Patel, CMO, MintCFD, the defense sector, driven by Trump's focus on military strength, is expected to see increased demand, with greater government spending on defense initiatives. This trend could extend to companies providing essential services in intelligence, cybersecurity, and homeland security, benefiting from Trump's defense policies.
In the energy sector, Trump's push for U.S. energy independence could favor fossil fuel companies as he aims to reduce reliance on foreign energy sources. With deregulation in energy production and a focus on boosting domestic oil and gas output, the sector stands to benefit from a more favorable environment.
RITES's net profit for the quarter decreased by 25% to ₹82.5 crore, down from ₹110.2 crore in the same quarter last year.
Revenue for the quarter fell to ₹541 crore, a decrease from ₹582.4 crore in the corresponding period last year, marking a decline of 7.1%.
On Wednesday, China expressed its desire for "peaceful coexistence" with the United States as Donald Trump edged closer to a significant victory against Kamala Harris in the nation's presidential election, as reported by AFP.
"We will continue to approach and handle China-US relations based on the principles of mutual respect, peaceful coexistence, and win-win cooperation," foreign ministry spokeswoman Mao Ning told a regular briefing, as per AFP report.
Bitcoin soared to an all-time high during Asian trading hours as investors speculated on a possible win for Donald Trump in the upcoming US presidential election. The foremost cryptocurrency increased by 7% to reach $75,060, exceeding its earlier record established in March.
Sensex Today Live: Dhanuka Agritech Q2 Results:
> Net profit rises 15.4% to ₹117.5 crore from ₹101.8 crore, YoY
> Revenue grows 5.9% to ₹654.3 crore from ₹618 crore, YoY
> EBITDA up 12.7% at ₹159.6 crore from ₹141.6 crore, YoY
> Margin up at 24.4% from 23%, YoY
Sensex Today Live: Swiggy IPO has been subscribed 8% so far on the first day of the subscription period. The issue has been booked 39% in the Retail category and 3% in the Non Institutional Investors (NII) category. The Qualified Institutional Buyers (QIBs) are yet to bid for the Swiggy IPO and the Employee category is subscribed 55% so far.
Stock Market Today Live: The Sensex surged more than 700 points or 0.91% to trade above 80,200 level, and the Nifty 50 rallied over 200 points or 0.9% to above at 24,400 after trends in US election results hinted at a win for Donald Trump. All the sectoral indices were trading in the green, while Midcap and Smallcap indices outperformed the frontline indices.
Sensex Today Live: Indian rupee hit an all-time low against the US dollar as the greenback strengthened amid the rising possibility of Donald Trump returning to White House. Rupee slid to a record low of 84.25 against the dollar, though it later recovered slightly to trade at 84.18.
Stock Market Today Live: Crude oil prices fell as Donald Trump’s increasing chances of winning the presidential race boosted the dollar to a one-year high, along with an industry report signaling a gain in US stockpiles. Global benchmark Brent crude sank toward $74 a barrel, while West Texas Intermediate dropped below $71
The dollar surged and bitcoin hit a record high Wednesday as traders bet on a victory for Donald Trump as he picked up key swing states needed to take the White House, ramping up bets on fresh tax cuts, tariffs and rising inflation.
The dollar jumped 1.5% to 154.33 yen, its highest since July, while it was also up more than one percent against the euro and more than three percent against the Mexican peso.
Bitcoin piled more than $6,000 higher to a record $75,371.69, topping its previous peak of $73,797.98 in March.
Stock Market Today Live: Republican former president Donald Trump closed in on a new term in the White House early Wednesday, just needing a handful of electoral votes to defeat Democratic Vice President Kamala Harris, AFP reported.
US media have thus far projected that Trump has won in more than half of the 50 US states, including three key battlegrounds Georgia, North Carolina and Pennsylvania, two of which voted Democratic in the last election. That gives him 266 electoral votes, just shy of the 270 needed to win the presidency. Fox News has already called the race in Trump's favor.
Sensex Today Live: Donald Trump has won two crucial swing states, North Carolina and Georgia, bolstering his path to 270 electoral votes. Kamala Harris has won Virginia and Hawaii, adding to her earlier victories in Democratic strongholds like California, New York, and Illinois. Trump has also claimed a string of states, including Alabama, Florida, Texas, and Ohio, alongside Nebraska’s third congressional district, strengthening his hold on the electoral race.
Sensex Today Live: A Donald Trump administration is likely to bring renewed trade tensions, with potential adverse effects on India's key export sectors and capital inflows. The economic outlook for India will depend significantly on the global trade environment and how quickly the US economy adjusts to the policy changes that are likely to follow a Trump victory. Trade tariffs he will definitely bring into China could be beneficial for India because Indian sectors will benefit like manufacturing. But tariffs on India will affect some sectors. In the US, product cost will increase and inflation will go up. Potentially there could be impact but we have to wait to see what happens, said Nitin Aggarwal, Director of Investment Research and Advisory at Client Associates.
Sensex Today Live: Sterling Tools share price jumped over 5% after the company, through its wholly owned subsidiary Sterling Tech-Mobility Limited, entered into a partnership with Kunshan GLVAC Yuantong New Energy Technology Co., Ltd, a wholly owned subsidiary of China's Kunshan GuoLi Electronic Technology Co., Ltd., to manufacture advanced High Voltage Direct Current (HVDC) contactors and relays in India.
This association is expected to generate ₹250 crore in business by FY30 and Sterling Tools will bring the niche technology to manufacture and assemble HVDC Contactors and relays locally at a new facility in Bengaluru, India with an investment of around Rs. 40 crore, the company said.
Sensex Today Live: IT stocks posted strong gains, lifting the Nifty IT sectoral index higher despite ongoing uncertainty surrounding the 2024 US election outcome. The Nifty IT index jumped over 3% with stocks such as Persistent Systems, LTIMindtree, TCS, Infosys and Wipro, HCL Tech and Tech Mahindra jumping 3-4%. The IT pack was up with gains of 3.05% with all 10 components in the green.
Stock Market Today Live: Gujarat Pipavav Port Q2 Results (YoY)
- Net Profit falls 18.3% to ₹76 crore from ₹93 crore
- Revenue down 10% at ₹227 crore from ₹253 crore
- EBITDA falls 12.4% to ₹132.5 crore from ₹151.3 crore
- Margin drops to 58.4% from 60%
Stock Market Today Live: The early US election results suggest that Donald Trump is leading the race (95-35), although any winning candidate would need at least 270 seats to call it a day. Going by the early results, Donald Trumps’s victory could likely result in more spending in the US, which could translate into inflation remaining somewhat elevated. At the same time, it would also mean a stronger dollar but more trade barriers. However, more than who wins, a clear result will be more of a relief to the markets which have been in a volatile mood predicting the outcome. This could translate positively for India as India’s trade relations with the US remain robust. Furthermore, clarity on the results will also be constructive to restrict volatility and return to fundamentals.
On this note, India’s fundamental strength remains strong. The correction or adjustment led by outflows seen in the last one month should therefore reverse. In the medium to longer term, positive outcomes should emerge from the constructive relations India has with both the USA and Donald Trump. Currency adjustments can well be managed with the reserves India has built. The only caveat could be that the US rate cutting cycle could be slower than anticipated which could also translate into a shallow rate cutting cycle for India. However, recall that India’s rate hikes were only half of what the US hiked. So India has sufficient elbow room from the interest rate space as well with growth remaining resilient, said Anitha Rangan, Economist, Equirus.
Stock Market Today Live: Bank Nifty index traded higher above the 52,300 level on Wednesday led by gains in Bank of Baroda, State Bank of India (SBI), Punjab National Bank (PNB) and ICICI Bank.
Stock Market Today Live: Swiggy IPO opened for public subscription today in the price band of ₹371 to ₹390. Swiggy IPO will remain open till Friday, November 8. The food delivery giant has attracted significant interest from institutional investors, collecting ₹5,085.02 crore through the anchor book launched on November 5. The company aims to raise ₹11,327 crore from the IPO, which will include a fresh issue of shares valued at ₹4,499 crore alongside an offer for sale (OFS) of ₹6,828 crore.
Sensex Today Live: The stock exchanges, BSE and NSE, have suspended the trading of Coffee Day Enterprises securities, effective November 5.
As an additional surveillance (ASM) measures the stock exchanges have suspended the trading of the securities of Coffee Day Enterprises Limited as it has met the criteria under ASM for companies as per Insolvency and Bankruptcy Code (IBC) with effect from November 05, 2024. The securities will be traded only once a week (Every Monday or the 1st trading day of the week) until further review by stock exchanges post elapsing of minimum 1 month in IBC Stage I, said the company.
It is hereby clarified that, CIRP process was initiated vide NCLT Bangalore order dated August 08, 2024 and company got stay from NCLAT, Chennai on CIRP Process initiated by NCLT Bangalore vide order dated August 14, 2024, it added.
Sensex Today Live: GAIL share price surged almost 7% in morning trade after the company announced its September quarter scorecard. GAIL India share price opened at ₹200.05 against its previous close of ₹196.40 and jumped 6.6% to the level of ₹209.40. GAIL India stock has seen a healthy gain of about 59% over the last year.
Stock Market Today Live: Sensex today extended rally with gains of over 600 points and reclaimed the 80,000-mark, amid positive global market cues. Nifty 50 also traded above 24,400 level led by gains across the board. Midcap and Smallcap indices rallied over 1% each.
Stock Market Today Live: GAIL India share price surged over 6% after the company reported strong earnings for the quarter ended September 30, 2024. GAIL shares spiked as much as 6.61% to ₹209.40 apiece on the BSE.
Sensex Today Live: Titan share price declined over 3% on Wednesday after the company reported a sharp fall in net profit for the second quarter of FY25 impacted by a cut in customs duty on gold imports. Titan shares sank as much as 3.69% to ₹3,113.65 apiece on the BSE.
Sensex Today Live: The sharp rebound in the market yesterday indicates a halt to the downward trend witnessed during the last many days. The fact that the rebound is being led by fairly-valued and fundamentally strong large banking stocks is important and points to the possibility of the continuation of the trend. However, the poor earnings growth in Q2 and earnings downgrades for FY 25 are headwinds that will constrain a sustained rally. What is likely is stock-specific action in response to results, guidance and expectations. Investors can utilise the market rallies to move from high-priced mid and smallcaps to the safety of largecaps, said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
According to him, the noise and action related to the US elections will last only for a few days, after which economic fundamentals will determine the direction of the market trend.
Stock Market Today Live: Among sectoral indices, Nifty IT, Nifty Realty, Nifty Oil & Gas, Nifty Auto and Nifty PSU Banks were trading in the green, while Nifty Metal and Nifty FMCG declined.
Stock Market Today Live: Broader markets supported the upside momentum in the Indian stock market today. The Nifty Midcap 100 index gained 0.7%, while the Nifty Smallcap 100 rose 0.5% in early morning trade.
Stock Market Today Live: The Indian stock market opened higher on Wednesday tracking positive cues from global peers ahead of US election results 2024. The Sensex opened 295.19 points, or 0.37%, higher at 79,771.82, while the Nifty 50 gained 95.45 points, or 0.39%, to open at 24,308.75. Bank Nifty opened at 52,440.40, up 233.15 points, or 0.45%.
Stock Market Today Live: Rupee falls 6 paise against the US dollar to open at a record low on Wednesday ahead of US election results 2024. Rupee opened at 84.17 per dollar as compared with previous close of 84.11 a dollar.
Stock Market Today Live: The Indian stock market benchmark indices, Sensex and Nifty 50, are trading in the green in the pre-opening session on Wednesday.
Stock Market LIVE: Bitcoin prices surged to a record high in Asia trade as investors leaned towards Donald Trump winning the US presidency, Reuters reported. The world's biggest cryptocurrency rose 7% to $75,060, topping March's peak with the prospect of Donald Trump winning the election seen ushering in a softer line on cryptocurrency regulation.
Stock Market LIVE: Bank Nifty jumped 992.00 points, or 1.94%, to close at 52,207.25 on Tuesday, forming a large green candlestick pattern.
“Bank Nifty has consolidated between a range of 51,000 to 52,400 levels. On the downside, the index is getting bought back, and on the upside, the index is sold into. A break of this range can signify a further price action. The momentum indicators on the weekly chart continue to show weakness in the index. However, the ADX average line on the weekly chart has just started rising from below 15 levels, indicating one of the trends is picking up. A break of the range in this case can be significant," said Dr. Praveen Dwarakanath.
According to him, options writer's data showed increased short covering in the calls of 51,200 and above of expiry, which can also be the reason for yesterday’s bounce in the index.
Stock Market LIVE: Nifty 50 witnessed a decisive upside bounce from the lows on November 5 and closed the day higher by 217 points.
“Nifty has given a dead cat bounce from its support at 24,800 levels. Immediate resistance for the index is at 24,500 level, a close above which suggests a further rally towards 25,000 levels. The index has closed above the Keltner channel on the daily chart, however, on the weekly it's trading well below the lower band of the Keltner channel, indicating the bounce can be an opportunity to sell. The ADX average line has sloped up above 40 levels, an indication of exhortation of the fall, a pause in fall, or a small bounce can be expected," said Dr. Praveen Dwarakanath, Vice President of Hedged.in.
According to him, options writer's data for this week's expiry showed a short covering of calls above 24,000 levels, which could be the reason for the bounce in the index as well.
Stock Market LIVE: US stock market ended sharply higher on Tuesday as investors braced for volatile trading as voting was underway in an extremely tight US presidential election. The Dow Jones Industrial Average rallied 427.28 points, or 1.02%, to 42,221.88, while the S&P 500 rose 70.07 points, or 1.23%, to 5,782.76. The Nasdaq Composite ended 259.19 points, or 1.43%, higher at 18,439.17.
Stock Market LIVE: Asian markets traded higher Wednesday following overnight rally on Wall Street ahead of the US presidential election results. Japan’s Nikkei 225 gained 0.7%, while the Topix rose 0.4%. South Korea’s Kospi added 0.2%, while the Kosdaq gained 0.7%. Hong Kong’s Hang Seng index futures indicated a lower opening.
Stock Market LIVE: The trends on Gift Nifty indicate a mildly negative start for the Indian stock market benchmark indices. Gift Nifty was trading around 24,279 level, a discount of nearly 15 points from the Nifty futures’ previous close.
Stock Market LIVE: Indian stock market benchmark indices staged a solid recovery on Tuesday and ended sharply higher led by metals and banking stocks. The Sensex rallied 694.39 points, or 0.88%, to close at 79,476.63, while the Nifty 50 settled 217.95 points, or 0.91%, higher at 24,213.30.
Stock Market LIVE: Indian stock market benchmark indices, Sensex and Nifty 50, are expected to remain volatile on Wednesday ahead of the US election results 2024. The trends on Gift Nifty indicate a negative start for the Indian benchmark index.
