Stock Market Update: Nifty and Sensex Open in Red, PTC India’s Shares Surge to 9%
The NSE Nifty 50 opened at 19,542.15, down 0.42%, while the BSE Sensex opened at 65,437.07, marking the deadline of 192.17 points.
Mumbai: On Friday, the benchmark equity indices in India began the day on a negative note. The NSE Nifty 50 opened at 19,542.15, down 0.42%, while the BSE Sensex opened at 65,437.07, marking the deadline of 192.17 points.
Although the small-cap stocks started on a positive note, the broader indices largely opened in the red, including the Bank Nifty index, which began at 43,584.25, down by 170.25 points.
Among the companies listed on the Sensex, Hindustan Unilever’s shares traded over 1% lower. This decline followed the company’s report of a marginal decrease in consolidated net profit, which amounted to Rs 2,657 crore for the second quarter ending on September 30. This dip was attributed to subdued rural demand and heightened competitive intensity.
Other major laggards at the opening included HCL Technologies, ITC, Power Grid, Bajaj Finance, Ultra Tech Cement, and Asian Paints.
On a more positive note, Nestle, Tata Motors, Kotak Mahindra Bank, and Indusland Bank were among the gainers.
PTC India witnessed a surge of more than 9% in its shares on this day. The surge followed the company’s announcement of the sale of its subsidiary to ONGC Ltd. at an equity value of Rs 925 crore.
Global factors also played a role in market sentiment, as oil prices rose due to concerns that the military campaign in Gaza could escalate into a broader regional conflict. Additionally, yields on 10-year US government bonds increased for the fourth consecutive day, inching closer to the 5% mark for the first time since 2007.
Ms Kalinga