The Nifty 50 index closed higher on Thursday, advancing 0.66% to reach 22,848.70. This positive momentum was supported by a 0.58% gain in the Nifty Bank index, which added 315 points to settle at 54,582.05, even as the India VIX cooled by −3.57%.
The 60-Second Version
- Nifty 50 rose 0.66% to close at 22,848.70.
- Power Grid Corporation led the gainers with a +3.96% rise.
- Trent Ltd. emerged as the top loser, falling −2.51%.
- The Nifty FMCG sector outperformed, gaining 1.86% overall.
- Trading volumes spiked significantly in Birlasoft Ltd., reaching 9.7x its 20-session average.
| Index | Close | Change | Change % |
|---|---|---|---|
| Nifty Bank | 54,582.05 | +314.65 | +0.58% |
| Nifty 50 | 22,848.70 | +149.85 | +0.66% |
Power and Infrastructure Drive Gains
Market sentiment was buoyed by strength in infrastructure and power-related stocks. Power Grid Corporation of India Ltd. climbed +3.96% to ₹261.35, following news of a successful bid for a ₹199.55 crore transmission project in Maharashtra and the acquisition of Lakadia C Power Transmission. Adani Ports and Special Economic Zone Ltd. also saw strong buying, rising +3.82% to ₹1828.5, supported by a 17% growth in Q2 consolidated net profit and the incorporation of a new subsidiary in Oman.
Kotak Mahindra Bank Ltd. added +2.90% to reach ₹452.75, buoyed by a 26% rise in its Q2 consolidated net profit. Other notable gainers included Adani Enterprises Ltd. at +2.73% and Eternal Ltd. at +2.52%.
| Stock | Price | Change % |
|---|---|---|
| Power Grid Corporation Of India Ltd. | ₹261.35 | +3.96% |
| Adani Ports and Special Economic Zone Ltd. | ₹1,828.5 | +3.82% |
| Kotak Mahindra Bank Ltd. | ₹452.75 | +2.90% |
| Adani Enterprises Ltd. | ₹2,547.4 | +2.73% |
| Eternal Ltd. | ₹334.2 | +2.52% |
| ITC Ltd. | ₹265.1 | +2.16% |
| Hindustan Unilever Ltd. | ₹1,849.6 | +1.86% |
| Titan Company Ltd. | ₹4,402.9 | +1.50% |
| Reliance Industries Ltd. | ₹1,174.4 | +1.42% |
| Bajaj Finance Ltd. | ₹929.3 | +1.31% |
| Stock | Price | Change % |
|---|---|---|
| Trent Ltd. | ₹2,840.9 | −2.51% |
| Hero MotoCorp Ltd. | ₹5,224.5 | −1.84% |
| Bajaj Auto Ltd. | ₹10,379 | −1.01% |
| Eicher Motors Ltd. | ₹7,243.5 | −0.77% |
| Asian Paints Ltd. | ₹2,270.1 | −0.63% |
| Maruti Suzuki India Ltd. | ₹11,513 | −0.57% |
| Tata Steel Ltd. | ₹168.33 | −0.56% |
| Hindalco Industries Ltd. | ₹889.05 | −0.53% |
| Interglobe Aviation Ltd. | ₹4,674 | −0.34% |
| SBI Life Insurance Company Ltd. | ₹1,661.5 | −0.31% |
Auto Stocks Face Selling Pressure
The auto sector struggled throughout the day, with the Nifty Auto index falling −0.64%. Trent Ltd. led the decliners, shedding −2.51% to close at ₹2840.9. Hero MotoCorp Ltd. followed with a −1.84% drop, while Bajaj Auto Ltd. slipped −1.01%. Eicher Motors Ltd. and Maruti Suzuki India Ltd. also saw declines of −0.77% and −0.57% respectively.
| Sector index | Change % |
|---|---|
| Nifty FMCG | +1.86% |
| Nifty CPSE | +1.22% |
| Nifty PSU Bank | +1.12% |
| Nifty Media | +1.00% |
| Nifty IT | +0.87% |
| Nifty Pharma | +0.32% |
| Nifty Healthcare Index | +0.31% |
| Nifty Metal | +0.18% |
| Nifty Chemicals Index | +0.06% |
| Nifty Auto | −0.64% |
Beyond the List
Market activity saw several stocks hitting 52-week highs, including Acutaas Chemicals Ltd. which rose +6.42%, and Kotak Mahindra Bank Ltd. at +3.03%. Conversely, Dalmia Bharat Ltd. hit a 52-week low, falling −4.23%. Volume shockers were prevalent, with IIFL Capital Services Ltd. trading at 10.4x its 20-session average volume, while Birlasoft Ltd. saw 9.7x volume with an +11.74% price move.
| Stock | Price | Change % |
|---|---|---|
| Acutaas Chemicals Ltd. | ₹3,948 | +6.42% |
| Kotak Mahindra Bank Ltd. | ₹453.35 | +3.03% |
| Piramal Pharma Ltd. | ₹226.99 | −2.50% |
| SG Mart Ltd. | ₹906.3 | +12.87% |
| Laurus Labs Ltd. | ₹2,183 | +0.05% |
| Stock | Price | Change % |
|---|---|---|
| Dalmia Bharat Ltd. | ₹1,412 | −4.23% |
| Yes Bank Ltd. | ₹15.48 | −0.83% |
| Vaibhav Global Ltd. | ₹158.92 | −15.39% |
| Godrej Consumer Products Ltd. | ₹832 | +1.22% |
| Tenneco Clean Air India Ltd. | ₹429.1 | −2.11% |
| Stock | Volume vs average | Change % |
|---|---|---|
| IIFL Capital Services Ltd. | 10.4x | +0.38% |
| Birlasoft Ltd. | 9.7x | +11.74% |
| Vaibhav Global Ltd. | 9.2x | −15.39% |
| Aeroflex Industries Ltd. | 9.1x | +15.12% |
| Jupiter Wagons Ltd. | 9.0x | +4.16% |
| Stock | Side | Price | Change % |
|---|---|---|---|
| Hero Motors Ltd. | Upper | ₹122.33 | +5.00% |
| STL Networks Ltd. | Upper | ₹35.87 | +4.98% |
| Bhageria Industries Ltd. | Upper | ₹370.75 | +10.00% |
| Xtranet Technologies Ltd. | Upper | ₹290.05 | +5.00% |
| Runwal Enterprises Ltd. | Upper | ₹209.65 | +4.98% |
| Rhetan TMT Ltd. | Lower | ₹13.43 | −4.95% |
| Spencer’s Retail Ltd. | Upper | ₹21.65 | +9.95% |
| Elitecon International Ltd. | Upper | ₹7.18 | +4.97% |
On the Calendar
Investors are monitoring results due today from 22 Nifty 500 companies, including Asian Paints Ltd., Coal India Ltd., and Ambuja Cements Ltd. Several companies are trading ex-dividend today, including CRISIL Ltd. at ₹17 per share and Kajaria Ceramics Ltd. at ₹12 per share. Multiple IPOs are also active, with Bombay Coated And Special Steels Ltd. and Antala Industries Ltd. opening for bidding today.
On the calendar today, Thursday, 29 October
| Company | Also considering a dividend |
|---|---|
| Ambuja Cements Ltd. | — |
| Apar Industries Ltd. | — |
| Asian Paints Ltd. | Yes |
| Blue Star Ltd. | — |
| Brigade Enterprises Ltd. | — |
| Computer Age Management Services Ltd. | Yes |
| Coal India Ltd. | Yes |
| Deepak Nitrite Ltd. | — |
| Firstsource Solutions Ltd. | — |
| Godrej Consumer Products Ltd. | Yes |
| Indian Energy Exchange Ltd. | — |
| Interglobe Aviation Ltd. | — |
| Company | What happens |
|---|---|
| Bombay Coated And Special Steels Ltd.
Price band ₹78 to ₹82
|
Opens for bidding |
| Antala Industries Ltd.
Price band ₹63 to ₹67
|
Opens for bidding |
| SFC Environmental Technologies Ltd.
Price band ₹313 to ₹330
|
Last day to bid |
| BLS Polymers Ltd.
Price band ₹142 to ₹150
|
Last day to bid |
| Wiscon Industries Ltd.
Price band ₹194 to ₹204
|
Last day to bid |
| Company | Event | Detail |
|---|---|---|
| Central Mine Planning & Design Institute Ltd. | dividend | ₹1.05 per share |
| CRISIL Ltd. | dividend | ₹17 per share |
| Kajaria Ceramics Ltd. | dividend | ₹12 per share |
| Shriram Finance Ltd. | dividend | ₹6.5 per share |
The divergence between the strong performance of infrastructure and power stocks versus the weakness in the auto sector highlights a selective appetite for growth in today’s session.
Nifty 50: the bigger picture
| Measure | Value |
|---|---|
| Last 5 sessions | −0.49% |
| Last 20 sessions | −0.36% |
| 20-session high | 23,146.15 |
| 20-session low | 22,231.80 |
| Below the 20-session high | 1.93% |
| Current run | 2 sessions down in a row |