Stock Market LIVE Updates: Sensex up 250pts, at 81,900, Nifty above 25,000; Metal, Cons, PSB down

Stock Market Today: Indian benchmark indices were trading higher on Monday, aided by improved sentiment as Asian markets climbed.

Share Market Today: Foreign Institutional Investors (FIIs) net sold shares worth Rs 9,896.95 crore, while Domestic Institutional Investors (DIIs) net bought shares worth Rs 8,905.08 crore on Friday, October 4. (Photo: Shutterstock)

Stock Market LIVE Updates, Monday, October 7, 2024: Indian benchmark equity indices were up on Monday, supported by gains in Asia as sentiment in the global markets stabilised somewhat, with no fresh escalation of the conflict between Israel and Iran over the weekend.

At 10 AM, the BSE Sensex was up 305.74 points, or 0.37 per cent, at 81,994, while the Nifty 50 was at 25,076.50, up 61 points, or 0.25 per cent.

On the Sensex, only three stocks, Titan (down 1.17 per cent), Hindustan Unilever, and Power Grid Corp, were dragging, while gains were led by ITC (up 1.48 per cent), followed by HCLTech, Kotak Mahindra Bank, Tata Motors, and Infosys.

On the Nifty, 43 stocks were in the green, while the rest were trading in the red.

Gains were led by Shriram Finance (up 1.76 per cent), followed by ITC, Trent, HCLTech, and Hero MotoCorp. On the flip side, loses were led by Titan (down 1.03 per cent), followed by Hindustan Unilever, ONGC, Brittania Industries, and Power Grid Corp.

In the broader market, the Nifty Midcap 100 was up 0.42 per cent, while the Nifty Smallcap 100 was up 0.53 per cent.

Across sectors, the IT index was up 0.98 per cent, while financial indices Bank and Financial Services were also in the green. All the other sectoral indices were also trading higher.

On Friday, benchmark equity indices BSE Sensex and Nifty 50 had around 1 per cent lower each.

The Sensex declined 808.65 points, or 0.98 per cent, to 81,688.45, while the Nifty 50 pulled back by 235.50 points, or 0.93 per cent, to close at 25,014.60.

Broader indices also ended in the red, with the Nifty Midcap 100 and Nifty Smallcap 100 settling down by 1.01 per cent and 0.90 per cent, respectively.

Sectoral indices, including FMCG, Auto, Media, Realty, and Oil & Gas, each fell by more than 1 per cent, while the Nifty Media index declined by 2.53 per cent.

However, the IT and PSU Bank indices succeeded in eking out some gains, ending higher by 0.45 per cent and 0.61 per cent, respectively.

Meanwhile, Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after a blowout US labour data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.

Short-term US Treasury yields rose after the closely watched non-farm payrolls report on Friday showed the economy unexpectedly added the most jobs in six months in September.

Crude oil prices eased from a one-month peak even as Israel bombed targets in Lebanon and the Gaza Strip, with Monday marking one year since the Hamas attack that triggered the war.

Japan's Nikkei led regional equity gains with a 2 per cent rally as of 5:45 AM, given additional momentum by the softer yen.

Australia's stock benchmark added 0.12 per cent and South Korea's Kospi gained 0.29 per cent.

Hong Kong's Hang Seng had yet to open, and mainland Chinese stocks remain closed until Tuesday for the Golden Week holiday.

MSCI's broadest index of Asia-Pacific shares climbed 0.4 per cent.

US Dow futures pointed 0.08 per cent higher after the cash index closed at an all-time peak after the payrolls data on Friday.

The US dollar pushed as high as 149.10 yen for the first time since Aug. 16 before last trading hands up 0.18% at 148.87 yen.

Bets for a super-sized 50-basis-point rate cut at the Federal Reserve's next policy announcement on November 7 - which had been above 50 per cent a week ago - were completely erased after the payrolls report.

Instead, traders now lay 95 per cent odds on a quarter-point cut, with a small chance that the policy rate stays unchanged, according to CME Group's FedWatch Tool.

Back home, the reconstituted six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is expected to maintain 'status quo' for the 10th consecutive policy review, said all the 10 respondents polled by Business Standard ahead of the panel’s meeting during October 7-9. The RBI will announce the review of the policy on October 9.

The decision to keep rates unchanged would be based on the ongoing risk of food inflation, as daily retail prices, particularly those of vegetables, continue to trend upward, the respondents in the poll said.

That apart, the two-year US Treasury yield rose 1.7 basis points to 3.9488 per cent on Monday, the highest in more than a month.

Gold edged 0.1 per cent lower to $2,849.29 an ounce, but remained not far from last month's record peak of $2,685.42.

Crude prices slipped following their biggest weekly gains in more than a year amid the mounting threat of a region-wide war in the Middle East.

Brent crude futures lost 65 cents to $77.40 per barrel, while US West Texas Intermediate crude futures declined 53 cents to $73.85 per barrel.

(With inputs from Reuters.)

10:35 AM

Stock Market LIVE Updates: Bank of India advances grow 14.4% Y-o-Y, deposits grow 10.15% Y-o-Y in Q2FY25

Stock Market LIVE Updates: Bank of India today announced that its global business grew by 12 per cent Y-o-Y to Rs 13.96 trillion as on September 30, 2024.

Global advances of the bank grew by 14.41 per cent Y-o-Y to Rs 6.21 trillion as on September 30, 2024.

Meanwhile, global deposits grew by 10.15 per cent Y-o-Y to Rs 7.75 trillion as on September 30, 2024.

10:27 AM

Stock Market LIVE Updates: Kavveri Telecom says RF products approved for integration by large Europe-based OEM

Stock Market LIVE Updates: Kavveri Telecom Products today informed that its radio frequency products have been approved by a large European original equipment manufacturer for integration into their systems.

The company, in an exchange filing, said, "We are pleased to announce that our latest state-of-the-art Radio Frequency (RF) products have been approved by a large European Original Equipment Manufacturer (OEM) for integration into their systems."

10:22 AM

Stock Market LIVE Updates: Brokerages bullish on Macrotech Developers; Q2 update boosts stock by 4%

Stock Market LIVE Updates: Brokerages are upbeat on real estate firm Macrotech Developers Limited (MDL) following a strong September quarter (Q2FY25) business update.

Macrotech Developers reported record pre-sales of Rs 42.9 billion, a 21 per cent year-on-year (Y-o-Y) growth, despite challenges in the market during the 'Shradhh' period. With total pre-sales reaching approximately Rs 83 billion in H1FY25, Macrotech Developers said that it is well on track to achieve its annual growth target of 20 per cent. READ MORE

10:09 AM

Stock Market LIVE Updates: Jio Fin Services zooms 3% on Sebi's nod to set up MF; check details here

Stock Market LIVE Updates: Shares of Jio Financial Services (JFSL) surged up to 3.1 per cent at Rs 349.50 per share on the BSE in Monday’s intraday deals. The stock price of the company moved up after it announced that it has received Sebi’s nod to create a mutual fund in association with BlackRock Financial Management. READ MORE

10:02 AM

Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty higher

Stock Market LIVE Updates: Indian benchmark equity indices were up on Monday, supported by gains in Asia as sentiment in the global markets stabilised somewhat, with no fresh escalation of the conflict between Israel and Iran over the weekend.

At 10 AM, the BSE Sensex was up 305.74 points, or 0.37 per cent, at 81,994, while the Nifty 50 was at 25,076.50, up 61 points, or 0.25 per cent.

9:59 AM

Stock Market LIVE Updates: Kalyan Jewellers records 39% growth in consolidated revenue in Q2FY25

Stock Market LIVE Updates: Kalyan Jewellers India today announced that it has recorded consolidated revenue growth of around 37 per cent in the quarter eneded on September 30, 2024.

The company, in an exchange filing, said, "Our India operations witnessed revenue growth of approximately 39 per cent during Q2 FY2025 as compared to Q2 FY2024, led by robust operating momentum on the ground across all markets with healthy same-store-sales-growth of approximately 23 per cent."

The company added that it launched 15 Kalyan Franchisee-Owned-Company-Operated (FOCO) showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of October in line with our previously communicated guidance.

9:55 AM

Stock Market LIVE Updates: Natco partner for generic Ozempic, Mylan settles patent case with Novo Nordisk

Stock Market LIVE Updates: Natco Pharma today announced that its development partner for manufacturing generic Ozempic products (Semaglutide), the US-based Mylan Pharmaceuticals has reached a settlement in a patent-related case for the concerning the drug, with Novo Nordisk.

The company, in an exchange filing, said, "NATCO Pharma Limited announces that Mylan Pharmaceuticals Inc. and Novo Nordisk have reached a settlement of the US patent litigation related to generic Ozempic (Semaglutide)."

NATCO and Mylan are partnered on the development of generic Ozempic products, it added, while disclosing that the terms of the settlement are confidential.

9:49 AM

Stock Market LIVE Updates: Hitachi Energy plans Rs 2,000-cr investment to grow capacity and portfolio

Stock Market LIVE Updates: Hitachi Energy today announced that it plans to invest around Rs 2,000 crore over the next four to five years, as it celebrates 75 years of operations in the country.

The company, in an exchange filing, said the investments include "a significant capacity expansion of the large power transformers factory, upgraded testing capabilities for specialty transformers at the small power transformers and the relocation of the bushings factory."

It added that the capacity of the traction transformers factory will also be boosted to support the modernisation of the Indian railway network.

Additionally, Hitachi Energy said plans are also underway to expand the network control solutions offering and develop and manufacture localised Grid eXpand and Grid eMotion.

The company will also introduce its maiden medium voltage offering- REF650—to the Indian market. Furthermore, concerted efforts will be made to nurture the supplier base in India for India and the world.

9:40 AM

Stock Market LIVE Updates: Eco Hotels up 2% as co aims for profitability by FY26

Stock Market LIVE Updates: The company is aiming for profitability by FY26 while expanding its portfolio with eco-friendly properties. The company has recently acquired three new properties and aims for a total of 5,000 rooms in five years.

9:38 AM

Stock Market LIVE Updates: Macrotech Developers gains 2.5% after posting pre-sales of Rs 4,290 cr in Q2FY25

Stock Market LIVE Updates: The realty firm achieved record pre-sales of Rs 4,290 crore in Q2FY25, a 21 per cent YoY increase, despite the traditionally inauspicious ‘Shradhh’ period. The company also reported collections of Rs 3,070 crore, up 11 per cent YoY.

9:35 AM

Stock Market LIVE Updates: Godrej Prop climbs over 2% after surpassing Rs 13,800 cr in bookings in H1FY25

Stock Market LIVE Updates: The company posted strong sales performance, with bookings surpassing Rs 13,800 crore in H1FY25. It aims to achieve a target of Rs 27,500 crore for the fiscal year, capitalising on the growing demand for premium homes.

9:22 AM