Stock Market Today, 6 November: Sensex Climbs 650 Points on Dhanteras Despite Wall Street Rout
Indian shares ignored the overnight US tech crash. By 1 pm the Sensex was up 0.8% near 79,957 and the Nifty near 24,679, led by M&M, Titan and ICICI Bank.
Indian equities held their nerve on Dhanteras. Although Wall Street had its worst day in 19 months overnight, the BSE Sensex and NSE Nifty 50 turned higher after a soft start and were trading firmly in the green by Friday afternoon.
Where the indices stood
- Opening: the Sensex began about 104 points higher at 79,413.66; the Nifty opened almost flat at 24,538.20.
- 11 am: Sensex 79,704.28 (+394 points); Nifty 24,599.60 (+63).
- 1 pm: Sensex 79,956.74, up 646.73 points or 0.82%; Nifty 24,678.55, up 141.95 points or 0.58%.
On Thursday, the Sensex had jumped more than 2,000 points to close at 79,310.01, while the Nifty finished at 24,536.60.
Gainers and laggards
Mahindra & Mahindra rose about 5% for a fifth straight session after a 25% year-on-year jump in September-quarter profit. Titan and ICICI Bank were also among the top Sensex gainers; ICICI Bank touched a fresh high of ₹1,526.35 and moved close to ₹11 trillion in market value. IT names such as Mphasis, Persistent Systems and TCS advanced as well.
The broader market was weaker. The Nifty Midcap 100 and Smallcap 100 were down more than 1% each, and realty stocks were the worst performers. Several companies fell sharply after their quarterly results, including 3M India, which hit a 52-week low, Happy Forgings and Godrej Agrovet.
Rupee and metals
The rupee gained 40 paise to about 94.07 against the US dollar, its strongest level in over seven months. Gold and silver slipped on profit-booking and a firmer dollar, after rallying on Thursday.
Markets will hold the special Diwali Muhurat trading session on Sunday, 8 November.
Figures are intraday and will change before the close. This is not investment advice.
Featured image: National Stock Exchange — 312user, CC BY-SA 4.0, via Wikimedia Commons
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