Sensex, Nifty Trade Lower on Rate-Hike Worries; Hitachi Energy Jumps 9%, Ola Electric Falls 6%
The Sensex was down 176 points at 81,734.65 and the Nifty at 25,219.45 by 10 am on Friday as inflation fears weighed; results drove sharp moves in Hitachi Energy, Oil India and Ola Electric.
Indian shares traded lower on Friday morning as worries about rising prices and a possible RBI rate hike kept buyers cautious. At 10 am, the BSE Sensex was down 176.36 points (0.22%) at 81,734.65, and the NSE Nifty 50 was 79.90 points (0.32%) lower at 25,219.45, according to Business Standard’s live market coverage.
Both indices had opened weaker, with the Sensex starting about 413 points down near 81,498 and the Nifty near 25,120, before recovering part of the loss. Negative global cues added to the pressure.
Banks drag, pharma holds up
Mahindra & Mahindra and HDFC Bank led the fall on the Sensex. In the private bank pack, IndusInd Bank, HDFC Bank and RBL Bank were the biggest losers. Bank, realty and auto indices were down 0.8% to 1% at the open, while pharma and healthcare were the only sectors in the green early on, with Sun Pharma the top Sensex gainer.
The broader market did slightly better than the headline index: the Nifty Midcap 100 fell 0.63% and the Smallcap 100 about 0.44% in early trade. The India VIX, a gauge of expected volatility, dropped 7.3% to 15.30.
Stocks moving on results
- Hitachi Energy: up 9.3% to ₹31,195 after Q2 FY27 net profit rose 21% to ₹318 crore.
- Oil India: up 1.8% to ₹448; consolidated Q2 net profit jumped 53% to ₹2,521 crore.
- Action Construction Equipment: up 6% to ₹1,256, near its 52-week high, on healthy Q2 numbers.
- Ola Electric: down 6.32% to ₹33.48 as Q2 revenue fell 39% year on year, though its net loss narrowed to ₹362 crore.
- Manappuram Finance: slipped to ₹311 from an early high of ₹327 despite a 219% rise in Q2 net profit to ₹701 crore.
- IFCI: fell as much as 2.4% to ₹61.80 after Q2 total income declined 2.4% to ₹734 crore.
Oil and rupee
Crude oil climbed back to around $95 a barrel, weighing on sentiment at the open. The rupee opened flat at 94.04 to the US dollar.
The cautious mood follows data showing retail inflation rose to 6.09% in October, above the RBI’s 6% upper limit.
Photo: BSE – Bombay Stock Exchange Building by Niyantha Shekhar, CC BY 2.0, via Wikimedia Commons
Sources
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