As of mid-morning trading on November 18, 2024, the stock market has witnessed mixed movements across sectors. While metal and realty stocks led the gains, IT and media sectors dragged the indices lower.
Top Gainers on NSE
- Hero MotoCorp: ₹4,804.65 (+4.35%)
- Supported by strong quarterly performance and positive guidance.
- Hindalco: ₹653.40 (+4.15%)
- Benefiting from China’s decision to scrap export tax rebates on aluminium products.
- Vedanta: ₹450.80 (+4.01%)
- Supported by rising global aluminium prices due to reduced Chinese exports.
- Varun Beverages: ₹595.60 (+3.46%)
- Positive market sentiment following robust earnings.
- Cholamandalam Investment: ₹1,233.00 (+2.26%)
- Gains attributed to strong business momentum and optimistic guidance.
- Polycab: ₹6,440.15 (+2.19%)
- Boosted by sustained demand in consumer durables and wiring segments.
- InterGlobe Aviation (IndiGo): ₹3,970.80 (+2.04%)
- Supported by better-than-expected passenger traffic and financial performance.
Sectoral Indices Performance
- Nifty Metal: Up 1.3%, driven by Hindalco, Vedanta, and National Aluminium Company, as global metal prices surged.
- Nifty Realty: Up 1.3%, with gains led by strong momentum in residential sales.
- Nifty Consumer Durables: Up 0.8%, boosted by positive earnings reports.
- Nifty Financial Services: Up 0.3%, with select NBFCs and private banks contributing to gains.
- Nifty IT: Down 0.8%, as global economic uncertainties weighed on sentiment for tech services.
- BSE Media and Oil & Gas: Both down 0.8%, dragged by weak performances in major constituents.
Market Sentiment
Despite the mixed performance, broader market trends suggest optimism in select sectors like metals and consumer durables, while external pressures weigh on IT and media stocks. Investors are closely watching global cues and sector-specific developments for further direction.
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