After slipping in early trade, the Nifty rebounded and reached back to 21,790 levels. Meanwhile, the Sensex gained 150 points. However, the broader indices faced losses, with both midcap and small-cap indices down 1 percent each. In terms of sectors, auto, capital goods, oil & gas, metal, power and realty were down 0.5-2 percent each. On the other hand, PSU Bank and pharma indices were up 0.5 percent each.
In stock news today, LIC became India’s 4th most valued firm after its share price rose by over 8 percent following a positive Q3 earnings report. Meanwhile, RVNL slumped over 8 percent after its disappointing Q3 earnings caused investors to lose confidence in the company’s future prospects. Additionally, HSBC has issued a buy call on Zomato and raised its target price from Rs 150/share to Rs 163/share based on strong growth prospects for the food delivery app.
Nandita Khemka and Yatin Mota discussed the latest developments on the Closing Bell show and provided insights into the key factors driving market trends today.