Partner With Us NRI

Bechmarks reverse losses; auto shares advance

Published on Jan 31, 2024 10:35

The benchmark indices pared early losses and traded with decent gains in morning trade. The Nifty marched above 21,550 level after hitting day`s low of 21,448.85 in early trade. Auto stocks advanced after declining in the past trading session.

At 10:29 IST, the barometer index, the S&P BSE Sensex, was up 222.50 points or 0.31% to 71,362.40. The Nifty 50 index added 74.80 points or 0.35% to 21,596.90.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 0.79% and the S&P BSE Small-Cap index gained 1.21%.

The market breadth was strong. On the BSE, 2,324 shares rose and 1,223 shares fell. A total of 147 shares were unchanged.


Growth in India is projected to remain strong at 6.5% in both 2024 and 2025, the International Monetary Fund said on Tuesday. The report pegged global growth at 3.1% in 2024 and 3.2% in 2025. Growth in China is projected at 4.6% in 2024 and 4.1% in 2025, with an upward revision of 0.4% points for 2024 since the October 2023 World Economic Outlook, the IMF said, adding that in the US, growth is likely to fall from 2.5% in 2023 to 2.1% in 2024 and 1.7% in 2025. China and India account for most of the upward revision. In China, growth was supported by higher spending on disaster reconstruction and resilience projects. In India, strong domestic demand underpinned another increase in our growth estimate, the Fund noted.

New listing:

Shares of Nova Agritech were currently trading at Rs 58.79 at 10:40 IST on the BSE, representing a premium of 43.39% as compared with the issue price of Rs 41.

The scrip was listed at Rs 56, exhibiting a premium of 36.59% to the issue price. So far, the stock has hit a high of 58.79 and a low of 55. On the BSE, over 13.93 lakh shares of the company were traded in the counter so far.

Results Today :

Maruti Suzuki India (up 1.02%), Sun Pharmaceutical Industries (up 1.20%), Shree Cement (up 0.75%), Ambuja Cements (up 0.96%), Bank of Baroda (down 0.78%), Dabur India (up 0.21%), Amara Raja Energy & Mobility (up 4.44%), Atul Auto (up 2.83%), Adani Wilmar (down 0.04%), Balaji Amines (up 2.16%), Data Patterns (India) (down 2.47%), DB Realty (down 0.50%), Dixon Technologies (up 0.69%), Fino Payments Bank (up 1.70%), GMR Airports Infrastructure (down 0.76%), Godrej Consumer Products (down 0.47%), IRB Infrastructure Developers (down 1.22%), Jindal Steel & Power (up 1.13%), Jubilant FoodWorks (up 1.06%), Jyothy Labs (up 1.61%), Kalyan Jewellers India (up 2.28%), Mankind Pharma (up 0.58%), PVR Inox (up 0.24%), and Suzlon Energy (up 2.37%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Auto index rose 1.33% to 19,130.30. The index shed 0.26% in the past trading session.

Tata Motors (up 3.37%), Bharat Forge (up 2.01%), Mahindra & Mahindra (up 1.52%), Eicher Motors (up 1.29%), MRF (up 1.09%), Maruti Suzuki India (up 1.02%), Ashok Leyland (up 0.64%), Bosch (up 0.58%), Sona BLW Precision Forgings (up 0.52%) and Hero MotoCorp (up 0.44%) advanced.

On the other hand, Tube Investments of India (down 0.94%) and Balkrishna Industries (down 0.33%) edged lower.

Stocks in Spotlight:

Dr Reddy`s Laboratories jumped 2.48% after the drug major`s consolidated net profit increased 10.57% to Rs 1,378.9 crore on 6.57% rise in revenues to Rs 7,214.8 crore in Q3 FY24 over Q3 FY23.

KPI Green Energy surged 9.74% after the company�s wholly owned subsidiary KPIG Energia Private Limited received a new domestic order for a 5 MW solar plant under the captive power producer segment from Skywin Paper Industries Private Limited.s

Powered by Capital Market - Live News