The Sensex slipped 110.64 points, or 0.14%, to settle at 77,580.31. The Nifty followed suit, dipping by 26.35 points, or 0.11%, ending at 23,532.70. Across the week, both the BSE Sensex and the Nifty have tumbled by 2.5% each, marking a challenging period for Indian equities.
The BSE Midcap index inched up by 0.4%, while the Smallcap index advanced by nearly 1%. Notably, around 140 stocks on the BSE hit their 52-week highs, while nearly 150 stocks registered their 52-week lows.
Impact on the stock market
Throughout the day, sectoral indices presented a mixed picture:
- FMCG, Power, PSU Banks, and Oil & Gas sectors saw losses ranging from 0.3% to 1%, led by declines in companies like Hindustan Unilever (HUL), BPCL, Tata Consumer, Nestle, and Britannia.
- On the positive side, Auto, Media, and Realty sectors rose by 0.6% to 2%, with stocks like Eicher Motors, Hero MotoCorp, Reliance Industries, HDFC Life, and Kotak Mahindra Bank posting gains.
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| Sector/Index | Performance |
| IT & BPM sector | 0.05% |
| Healthcare sector | -0.34% |
| Oil & Gas sector | -0.14% |
| Real estate sector | 1.03% |
| PSU Bank in India | -0.70% |
Top gainers today
| Company | Price | Change % |
| Eicher Motors Share Price | 4,883.70 | 6.43 |
| Hero Motocorp Share Price | 4,604.00 | 1.87 |
| HDFC Life Share Price | 694.00 | 1.31 |
| Reliance Share Price | 1,267.60 | 1.24 |
| Kotak Mahindra Share Price | 1,707.90 | 1.19 |
Top losers today
| HUL Share Price | 2,389.20 | -3.07 |
| TATA Cons. Prod Share Price | 925.00 | -2.91 |
| Britannia Share Price | 4,915.60 | -2.59 |
| BPCL Share Price | 298.20 | -2.50 |
| Nestle Share Price | 2,182.80 | -2.35 |
Market aftermath: Impact on stocks
NALCO Soars on Impressive Q2 Results
National Aluminium Company (NALCO) shares surged today, driven by remarkable Q2 results. NALCO reported a net profit of ₹1,062.2 crore, a massive 415.4% increase from ₹206.3 crore during the same period last year. This stellar performance was further highlighted by a 289.4% jump in EBITDA, reaching ₹1,549 crore.
With revenue from operations also up 31.5% year-on-year, NALCO’s stock opened at ₹229.80, a 4.5% rise from its previous close of ₹219.80, and quickly reached an intraday high of ₹230.75, achieving gains of nearly 5%. Adding to the excitement, NALCO announced an interim dividend of ₹4 per share, further cementing its appeal to investors.
HAL Benefits from Self-Reliance Push and Strong Q2 Results
Hindustan Aeronautics Limited (HAL) also saw positive movement today, gaining over 2% to reach ₹4,148.85 per share. This rise was attributed to HAL’s solid Q2 performance, with a 22.14% increase in net profit to ₹1,510.49 crore, up from ₹1,236.67 crore last year.
With total revenue growing by 6% to ₹5,976.3 crore, HAL’s performance aligns with the government’s emphasis on self-reliance, allowing the company to secure significant defence orders. HAL’s success further indicates positive growth in the Indian defence and manufacturing sectors.
Also Read: Hindustan Aeronautics & Bharat Electronics: Surge in defence spending
Banco Products (India) – Upper Circuit Hit with Strong Q2 Results
Shares of Banco Products (India) surged, hitting the 20% upper circuit at ₹840 per share after the company posted stellar Q2 results. Banco Products, known for manufacturing heat exchangers and cooling systems for the automotive and industrial markets, saw its net profit more than double to ₹138.7 crore, up from ₹66.1 crore a year earlier.
The strong earnings growth was driven by a 23.8% increase in sales, underscoring the company’s solid market position.
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Crude Oil Trends: Supply Tightness Spurs Price Gains
On the commodities front, crude oil prices edged higher due to ongoing concerns about supply constraints. Brent crude for January delivery was up by 0.21% at $72.04 per barrel, while WTI crude for December delivery climbed by 0.19% to $68.25 per barrel.
In India, November crude oil futures on the MCX opened at ₹5,763 per barrel, down slightly from the previous close of ₹5,776. The market remains tight due to increased buying activity, particularly as physical demand for oil remains strong. However, the Organisation of the Petroleum Exporting Countries (OPEC) has revised its global oil demand forecast downward by 107,000 barrels per day for 2024, predicting slower demand growth amid weakening economic indicators from China.
Conclusion
Today’s trading session exemplified the current volatile market phase, with sectoral performance diverging as investor sentiment remains cautious. While the broader market indices continue to face challenges, individual stocks like NALCO, Banco Products, and HAL are thriving, driven by robust Q2 results and favourable sector-specific dynamics.
As we head into a holiday closure on November 15 for Guru Nanak Jayanti, investors will be keeping a close watch on next week’s market developments for potential signs of stabilisation or further correction.
For more stock market insights, check out the StockGro blog.
