1 week ago
The benchmark Nifty 50 and Sensex stock indexes ended little changed on Monday as trading remained subdued due to the lack of substantial market cues.
The Nifty 50 ended below 24,200 mark. It was flat at 24,141 points. Meanwhile, the Sensex closed flat at 79,496 points.
30 stocks declined on the Nifty 50, showing the market sentiment favoured declines.
"Markets are expected to remain sideways on the back of mixed global factors and subdued quarterly results. However there could be stock specific action on account the last leg of Q2 earnings to be announced next week," Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services said.
The consumer, metal and pharma sub-indexes declined between 0.9% and 1%.
The losses were partly offset by gains in the financial stocks and Nifty Bank.
Among individual stocks, Asian Paints was the top loser on the Nifty 50 after a weak show in the second quarter earnings results.
Britannia shares slipped ahead of the release of its Q2 results.
Biocon Ltd shares rose sharply by over 8.5% after the company received a 'Voluntary Action Indicated' (VAI) status from the United States Food and Drug Administration (USFDA) for its Bengaluru unit.
Shares of Snowman Logistics Ltd. fell to its lowest point of the day after the company's second quarter results, which saw a decline on an year-on-year basis on most parameters.
NDMC shares fell as much as 4% ahead of the company's board meeting to consider it's September quarter results as well as a proposal to issue bonus shares to its shareholders. The stock though, recovered from the lowest of the day.
In the foreign exchange markets, the rupee depreciated against the US dollar to an all-time historic low of Rs 84.3875 during intraday trading today. The local currency has been on the decline since Donald Trump's historic second win in the US presidential elections, with markets anticipating it to pump up the value of the dollar.
First Published:
Nov 11, 2024 4:00 PM
IST
