Sensex jumps 364 pts, broader mkt outperforms

The headline equity indices were trading with moderate gains on the Muharat Trading Day. At 18:55 IST, the barometer index, the S&P BSE Sensex, was up 363.83 points or 0.57% to 65,268.51. The Nifty 50 index added 105.40 points or 0.54% to 19,530.75.

The broader market outperformed the key indices. The S&P BSE Mid-Cap index rose 0.70% while the S&P BSE Small-Cap index gained 1.19%.

The market breadth was strong. On the BSE, 2,695 shares rose and 536 shares fell. A total of 82 shares were unchanged.

The domestic market is open today for a special one-hour Muhurat trading session on the occasion of Diwali. The session also marks the beginning of Samvat 2080-- the Hindu calendar year that starts on Diwali.

The exchanges will remain closed on Tuesday, 14 November 2023, on the occasion of Diwali Balipratipada.

Buzzing Index:

The Nifty Media index advanced 0.84% to 2,251.20. Saregama India (up 2.11%), Hathway Cable & Datacom (up 1.32%), ZEE Entertainment Enterprises (up 1.16%), Nazara Technologies (up 0.98%) and Sun TV Network (up 0.76%) were the top gainers.

Among the other gainers were Dish TV India (up 0.28%), DB Corp (up 0.22%), Network18 Media & Investments (up 0.19%) and PVR INOX (up 0.17%).

Stocks in Spotlight:

Biocon gained 2.97% after the company�s consolidated net profit surged 167.8% to Rs 125.6 crore in Q2 FY24 as compared with Rs 46.9 crore in Q2 FY23. Revenue from operations jumped 49.26% to Rs 3,462.3 crore in Q2 FY24 as compared with Rs 2,319.7 crore posted in corresponding quarter last year.

Steel Authority of India (SAIL) rose 1.87%. The steel maker has reported a standalone net profit of Rs 1,240.66 crore in Q2 FY24 as against a net loss of Rs 385.82 crore recorded in Q2 FY23. Revenue from operations grew 13.21% year on year to Rs 29,713.54 crore in the quarter ended 30 September 2023.

Bombay Stock Exchange (BSE) rallied 5.19% after the company reported net profit of Rs 120.50 crore in Q2 FY24, steeply higher from Rs 33.81 crore in Q2 FY23. Revenue from operations jumped 59% year on year (YoY) to Rs 314.5 crore as compared with Rs 197.7 crore posted in corresponding quarter last year.

Tata Chemicals added 0.17%. The company�s PAT on a consolidated basis, stood at Rs 495 crore for the quarter as compared to Rs 685 crore in Q2FY23, recording a de-growth of 28% on YoY basis. The income from operations declined 6% to Rs 3,998 crore in Q2 FY24 from Rs 4,239 crore in Q2 FY23.

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