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Sensex and Nifty saw slight gains backed by a strong banking and financial stocks rally.
Kotak Bank, Shriram Finance, and Bajaj Auto were among the key gainers, and TMPV and Adani Enterprises saw losses.
Foreign Institutional Investors (FIIs) sold off in large volumes, but the overall sentiment was bolstered by the high volumes coming from Domestic Institutional Investors (DIIs).
The Indian stock market today showed bullish sentiments. Sensex was at 84,705.83, up by 143.05 points or 0.17% at press time. Meanwhile, Nifty 50 gained 28.05 points or 0.11% to 25,938.10. The key driver of the market was banking stocks, with Nifty Bank index rising 374.55 points or 0.64% to 58,892.10. Let’s see how individual shares performed in stock market today based on Moneycontrol Live Updates.
Shriram Finance shares were the biggest gainer on Nifty 50, up 1.62% to Rs. 822.40. Bajaj Auto stock jumped 1.50% to Rs. 8,976, while Kotak Mahindra Bank rose 1.15% to Rs. 2,103.70. Axis Bank stock climbed 1.08% to Rs. 1,255. At the same time, Eicher Motors gained 0.93% to Rs. 6,757.
On the other hand, TMPV plummeted by 4.29 % to Rs. 374.40. Adani Enterprises stock fell by 2.97 % to Rs 2,442. Max Healthcare tumbled by 0.73 % to Rs. 1,095. IT was among the weakest sectors with Nifty IT index falling by 0.21 % at 36,223.45.
The strong volumes of the banking sector dominated trade exchanges. Karnataka Bank appointed Raghavendra S Bhat as Managing Director and CEO for a period of one year with effect from November 16. He replaced Mahabaleshwara MS. The stock gained 2.58% at Rs. 178.60. Ujjivan Small Finance Bank surged to a 52-week high at Rs. 54.25, up 4.67%, the biggest gain in 10 weeks.
Kotak Mahindra Bank notified that its board will convene on November 21, to consider the issue of stock split. This would subdivide equity shares of face value of Rs. 5 each. This development could make the stock more affordable for more retail investors.
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A number of companies made key announcements that moved their stocks. Shares of SpiceJet surged by around 5% after the airline announced it expects its operational fleet to double by the end of 2025. In an exchange filing, the company stated higher capacity and better aircraft utilization should bring improvement in profitability.
Rail Vikas Nigam had its best day in 11 weeks, up 4.05% to Rs. 333.95. Despite this gain, the stock is trading 33.42% off its 52-week high of Rs. 501.55.
Ahluwalia Contracts India jumped 11.19% to Rs. 981 after reporting a 76% increase in second-quarter EBITDA. The margin expanded year-on-year by 11%, reflecting strong operational performance.
Ola Electric Mobility commenced test drives of vehicles with its indigenously designed 4680 Bharat Cell battery pack. The S1 Pro+ (5.2 kWh) is the first product with this domestically manufactured battery. The stock moved up 0.54% to Rs. 42.50.
Foreign Institutional Investors continued their selling spree, pulling out Rs. 4,968.22 crore on November 14, while Domestic Institutional Investors provided support by pumping in Rs. 8,461.47 crore. This trend indicates that domestic money is balancing foreign outflows in the stock market today.
The Indian rupee started the week marginally stronger at 88.70 per dollar, against Friday's close of 88.74 rupees. Gold prices were steady globally, with spot gold up 0.1% at $4,083.92 per ounce, as investors awaited US economic data for clues on Federal Reserve's interest rate decisions.
Interestingly, digital gold sales in India saw a sharp plunge this October, falling 61% by value and 80% by volume. According to analysts, this is because a lack of regulation is making investors worried about this investment avenue.
BSE Smallcap index showcased strength, adding 233.22 points or 0.44% to 53,363.90. Market breadth remained positive with 1,516 stocks advancing against 1,282 declining stocks on NSE.
Maruti Suzuki India has announced a recall of 39,506 units of the Grand Vitara, manufactured between December 9, 2024, and April 29, 2025, due to potential fuel level indicator issues. Max Healthcare Institute posted strong Q2 results, with consolidated profit jumping 74% to Rs. 491.3 crore, while revenue grew 25% to Rs. 2,135.5 crore.
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Indian stock market remained resilient with banking stocks providing strong support. Domestic institutional buying is effectively countering foreign selling pressure. However, investors should keep a close eye on the upcoming US economic data and Federal Reserve policy signals, which will have a bearing on market direction in the next few sessions.
1. Why did the stock market trade higher today?
The main reason for the market’s advance was strong gains in banking and financial stocks, which led the charge higher in the market. Positive corporate news, in addition to continued support from domestic institutional investors, helped offset continued selling pressure from FIIs.
2. Which sector performed the best today?
The best performing sector on the day was banking stocks, evidenced by strong gains in the Nifty Bank index. Individual stocks such as Karnataka Bank, Ujjivan Small Finance Bank, and Kotak Mahindra Bank drove gains within the sector and were the best-performing stocks on the day.
3. Why are FIIs selling Indian equities?
FIIs selling is mainly a result of global uncertainties with the economy, particularly around US interest rates, as well as the prevailing risk-off sentiment in the global markets. That said, Indian markets have continued to perform well with sustained buying from domestic investors.
4. What were the key corporate announcements that moved stocks today?
The most important corporate announcements were as follows: SpiceJet announced news of fleet expansion; Ahluwalia Contracts settled higher after announcing strong second-quarter results; and Ola Electric announced the launch of test rides with the Bharat Cell battery technology in its electric vehicles.
5. What should investors watch for in the coming days?
Investors should monitor upcoming US economic data and Federal Reserve policy guidance, as these could influence FII flows. Domestic earnings announcements, banking sector performance, and global market cues will also play an important role in market direction.
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