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Indian benchmark equity indices, the BSE Sensex and Nifty 50, opened with a subdued start on Monday
Stock Market Updates
After reducing their initial losses, Indian benchmark equity indices BSE Sensex and Nifty 50 were trading in the green.
As of 2 PM, the BSE Sensex stood at 80,085, up by 282.89 points (0.35%), while the Nifty 50 was at 24,224.45, gaining 93.35 points (0.39%).
By noon, 18 of the 30 stocks on the BSE Sensex were in the green, with the biggest gains led by UltraTech Cement (up 3.53%), followed by Maruti Suzuki India, JSW Steel, Mahindra & Mahindra, and Tech Mahindra. On the downside, losses were limited by NTPC (down 1.66%), followed by HDFC Bank, Larsen & Toubro, IndusInd Bank, and Kotak Mahindra Bank.
On the Nifty 50, 31 out of 50 stocks were trading in positive territory, with UltraTech Cement leading the gains (up 2.72%), followed by Grasim Industries, Shriram Finance, Maruti Suzuki India, and Sun Pharma. Losses were mostly contained by HDFC Life (down 1.61%), followed by IndusInd Bank, Cipla, Hindustan Unilever, and Bajaj Finance.
Sector-wise, the Realty index was the top performer, rising 1.65%, followed by the Consumer Durables index, which was up 1.37%. Other indices showing gains included Healthcare, Pharma, Metal, Media, IT, FMCG, and Auto.
On the flip side, the Nifty Bank index was down by 0.52%, while the Financial Services index fell 0.40%, and the Oil & Gas index declined by 0.36%.
In the broader markets, the Nifty Midcap 100 rose by 0.56%, while the Nifty Smallcap 100 was up by 0.83%.
Global Cues
That apart, markets in the Asia-Pacific region were trading mixed. Over the weekend, China’s November manufacturing PMI came in at 50.3 — its highest level since April — beating the 50.2 expected by economists polled by Reuters. The figure was 50.1 in October.
On Monday, the CSI 300 was trading higher by 0.57 per cent, and the Shanghai Composite was ahead by 0.36 per cent. Hong Kong’s Hang Seng index was trading ahead by 0.73 per cent.
Japan’s benchmark Nikkei 225 was lower by 0.31 per cent, while the broad-based Topix was 0.45 per cent higher.
South Korea’s Kospi rose 0.45 per cent, and the small-cap Kosdaq advanced 0.18 per cent.
Australia’s S&P/ASX 200 was ahead by 0.3 per cent.
Global stock markets had rallied on Friday, with Wall Street crowning November with its biggest monthly gain in a year on post-election growth hopes, while the dollar eased amid prospects for firmer rates in Japan and easing in Europe.
The S&P 500 rose 0.56 per cent to mark the best monthly gain since November 2023 of 5.14 per cent, while the Nasdaq’s 0.83 per cent rise Friday secured a 6.2 per cent gain for the month, it’s best since May.