Summary of this article
Sensex, Nifty snapped a three session losing streak today
Infosys, Bajaj Finance, and HCL Technologies emerged as top-gainers
Nifty IT and Nifty Pharma emerged as top-gainers among sectoral indices
Stock Market News: Headline indices finished the session with gains on November 10. The Nifty 50 index closed at 25,574.35 levels with a gain of 82.05 points or 0.32 per cent, while the Sensex closed at 83,535.35, adding 319.07 points or 0.38 per cent. Notably, the headline indices ended a three-session losing spree with today’s gains.
Infosys, Bajaj Finance, and HCL Technologies Lead Gainers
Shares of IT majors led the top-gainers among Nifty 50 stocks. Infosys, HCL Technologies led the gainers, closing higher by 2.59 per cent and 1.82 per cent on the NSE, respectively. Other major gainers included Bajaj Finance, Coal India and Asian Paints, which closed higher by as much as 1.88 per cent. As many as 32 constituents of the Nifty 50 rallied, while 18 closed in the red.
Nifty Pharma and Nifty IT Gain
The Nifty Pharma and the Nifty IT indices led the gainers among sectoral indices, as they closed with gains of 1.62 per cent and 0.95 per cent, respectively. The broader market indices also closed the session in the green. The Nifty MidCap100 and the Nifty SmallCap 100 finished the session with 0.47 per cent and 0.35 per cent, respectively. The India VIX also declined, closing lower by 2.05 per cent, indicating reduced volatility in the upcoming sessions.
Global Markets On November 10
On November 10, Asian markets witnessed strong momentum, as most major indices closed the session in the green. The Nikkei 225 and the Shanghai Composite closed the session with gains of 1.28 per cent and 0.52 per cent, respectively. On the other hand, the KOSPI and the Hang Seng closed the session with gains of 2.93 per cent and 1.57 per cent, respectively.
Primary Market Action
Shares of Lenskart Solutions made a muted debut on D-Street with a discount of nearly 3 per cent. On the other hand, the public issue of Pine Labs garnered muted demand and witnessed a drop in its grey market premium (GMP) on the final day of subscription. The share allotment status of the Groww initial public offering (IPO) will also be finalised today. On the SME board, Finbud Financial Services IPO, Curis Lifesciences IPO, and Shining Tools IPO continued to garner investor interest in the form of applications.
Market Outlook
Trading activity on D-Street is likely to be impacted by the potential end of the US government shutdown, the final wave of corporate earnings, domestic inflation data, foreign institutional investor (FII) activity, and any updates related to the India-US trade deal.
