The BSE Sensex surged by 694 points (or 0.88%) to close at 79,476.63, while the Nifty50 climbed 218 points (or 0.91%), pushing past the 24,200 mark to settle at 24,213.
In the broader markets, the Nifty Smallcap100 declined 0.18%, and the Nifty Midcap100 slipped 0.04%, highlighting that gains were primarily driven by larger-cap stocks.
Impact on the stock market
Despite the overall positive day, sectoral indices showed a mixed performance:
- Metals led the charge with a 1.15% increase, buoyed by stocks like JSW Steel (up 1.79%) and Tata Steel.
- The Auto, Pharma, IT, PSU Bank, Healthcare, and Consumer Durables sectors all posted gains.
- On the downside, the Nifty Bank and Financial Services indices, along with FMCG, Media, Realty, and OMC indices, traded in the red, showing some sectoral caution.
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| Sector/Index | Performance |
| IT & BPM sector | 0.01% |
| Healthcare sector | -0.07% |
| Oil & Gas sector | 0.78% |
| Real estate sector | 2.84% |
| PSU Bank in India | 1.84% |
Top gainers today
| Company | Price | Change % |
| JSW Steel Share Price | 999.50 | 4.67 |
| Bajaj Auto Share Price | 9,874.85 | 3.67 |
| Tata Steel Share Price | 152.29 | 3.63 |
| Hindalco Share Price | 697.55 | 3.45 |
| Axis Bank Share Price | 1,171.70 | 2.85 |
Top losers today
| Company | Price | Change % |
| Coal India Share Price | 434.90 | -1.89 |
| Adani Ports Share Price | 1,329.35 | -1.47 |
| Trent Share Price | 6,968.35 | -1.35 |
| Asian Paints Share Price | 2,887.30 | -0.96 |
| ITC Share Price | 480.20 | -0.91 |
Market aftermath: Impact on stocks
NMDC: Shares Rise on Bonus Issue News
Shares of NMDC Ltd surged over 3% after the company announced that its board would consider a proposal for issuing bonus shares on November 11. At ₹233.9, the stock was up 3.3% as of 2:55 pm.
Additionally, NMDC is set to announce its Q2 results on the same day, and investors seem optimistic about the upcoming developments.
Hatsun Agro Products: Rebounds After Q2 Setback
After a disappointing Q2 earnings report, Hatsun Agro Products staged a strong comeback, with shares rallying by over 12%. Despite a 17% year-on-year drop in net profit to ₹64.32 crore, the stock rebounded sharply, aided by high trading volumes.
Hatsun Agro shares traded at ₹1,156.40 on the NSE, with eight lakh shares exchanging hands, well above the daily average.
Also read: Hatsun Agro Q1 Results: A Detailed Look at the Recent Surge
Gland Pharma: Soars on Positive Q2 Outlook
Gland Pharma shares zoomed over 13% on the back of strong quarterly results, signalling that the worst might be behind for the drugmaker. By 12:54 pm, Gland Pharma was trading at ₹1,803 on the NSE.
Although the company’s Q2 net profit dipped by 16% year-on-year, analysts believe its core regulated markets, particularly in the United States, performed well. Kotak Institutional Equities upgraded Gland Pharma to an “add” rating, lifting its price target by 11%.
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Crude Oil Trades Higher as US Election Nears
In the commodities market, crude oil prices continued their upward trend, driven by both the upcoming US Presidential election and the US Federal Reserve’s interest rate decision later this week. Brent oil futures for January were at $75.25, up 0.23%. WTI crude oil futures for December stood at $71.63, up 0.22%.
In the Indian market, crude oil futures on the Multi Commodity Exchange (MCX) were trading at ₹6,031 (up 0.12%) for November contracts. Investors continue to watch for potential policy shifts, especially with the US election outcome and China’s four-day NPC meeting, which may signal fiscal stimulus to boost demand for crude.
Conclusion
Today’s session saw the Indian stock market regain ground, with the Sensex and Nifty bouncing back after Monday’s losses. Sectoral gains led by metals and auto helped lift sentiment, even as certain indices like Banking and FMCG struggled. On an individual level, stocks like NMDC, Hatsun Agro, and Gland Pharma showcased resilience, each making significant gains due to company-specific news and positive market sentiment.
While the crude oil market showed strength, fuelled by election concerns and potential policy shifts in the US and China, the broader market remains alert to global events. As the week unfolds, investors will likely keep a close eye on geopolitical developments and central bank decisions, as these factors may shape the trajectory of the Indian market in the coming days.
For more stock market insights, check out the StockGro blog.
