PSU banks and autos led a broad rally while IT lagged
The NIFTY closed up 0.84%, with Nifty Bank up 1.76% and smallcaps up 1.26%. IT was the only major index to fall, down 0.53%.
FinMinutes Markets · built from exchange, depository and company data · every number checked against the day's facts
The day
The market rose across the board. The NIFTY gained 0.84%, and Nifty Bank, at 1.76%, did most of the leading.
Smallcaps (1.26%) and midcaps (0.81%) also closed higher. Nifty IT, down 0.53%, was the one index in the red.
The money
Index against breadth
Breadth backed the index move: 36 stocks in the NIFTY rose and 14 fell. The gain was widely shared and not confined to a few names.
Banking was not uniform. ICICI Bank fell 1.10% on a day Nifty Bank rose 1.76%, so the bank-index gain came from elsewhere in the group.
Nifty 50: best
- Mahindra & Mahindra Ltd.+5.30%
- InterGlobe Aviation Ltd.+4.33%
- Trent Ltd.+3.32%
- Tata Steel Ltd.+2.40%
- Power Grid Corporation of India Ltd.+2.25%
Nifty 50: worst
- Adani Ports and Special Economic Zone Ltd.−1.84%
- ICICI Bank Ltd.−1.10%
- Tech Mahindra Ltd.−0.91%
- HCL Technologies Ltd.−0.85%
- Nestle India Ltd.−0.76%
Rotation
Money moved into state-owned and cyclical pockets. PSU Bank rose 2.94%, India Railways PSU Index 2.29% and Auto 2.14%.
The weak spots were IT (down 0.53%), the Gs 10 Yr Cln index (down 0.45%) and Realty (down 0.42%). The gap between best and worst is wide, but the losses were small.
This morning's brief, scored
This morning's brief set three conditions. Whether FIIs turned net buyers in the cash market is not known yet.
Whether more than half of the Nifty 500 closed higher, and whether India VIX closed lower than the day before, are also not known yet.
- Not knownFIIs turn net buyers in the cash market
- Not knownMore than half of the Nifty 500 closes higher
- Not knownIndia VIX closes lower than the day before
Queued for tomorrow
Fourteen companies hold board meetings on Thursday, 12 November. They include Hindustan Aeronautics, Bharat Dynamics, NMDC, Oil India, Alkem Laboratories and Vodafone Idea.
The rest are Action Construction Equipment, Caplin Point Laboratories, Hitachi Energy India, IFCI, Manappuram Finance, NMDC Steel, Techno Electric & Engineering and Travel Food Services.
- 14 results board meetings: Action Construction Equipment Ltd., Alkem Laboratories Ltd., Bharat Dynamics Ltd., Caplin Point Laboratories Ltd., Hindustan Aeronautics Ltd., Hitachi Energy India Ltd., IFCI Ltd., Manappuram Finance Ltd., NMDC Ltd., NMDC Steel Ltd., Oil India Ltd., Techno Electric & Engineering Company Ltd., Travel Food Services Ltd., Vodafone Idea Ltd.