Indices trade with tiny gains; Nifty above 24,200

The key equity benchmarks traded with small gains in early trade. The Nifty traded above the 24,200 level. FMCG and healthcare stocks advanced while consumer durables, oil & gas and metal shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, added 137.54 points or 0.17% to 79,539.83. The Nifty 50 index rose 35.05 points or 0.14% to 24,215.85.

In the broader market, the S&P BSE Mid-Cap index shed 0.11% and the S&P BSE Small-Cap index declined 0.08%.

The market breadth was positive. On the BSE, 1,791 shares rose and 1,301 shares fell. A total of 140 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,036.75 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,159.29 crore in the Indian equity market on 25 October 2024, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 2% to 6.982 as compared with previous close 6.845.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.0750, compared with its close of 84.0875 during the previous trading session.

MCX Gold futures for 5 December 2024 settlement lost 0.48% to Rs 78,154.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.28% to 104.55.

The United States 10-year bond yield added 0.97% to 4.276.

In the commodities market, Brent crude for December 2024 settlement gained $1.59 or 2.14% to $75.97 a barrel.

Stocks in Spotlight:

ICICI Bank advanced 2.91% after the banks standalone net profit increased 14.47% to Rs 11,745.88 crore on 17.24% rise in total income to Rs 47,714.04 crore in Q2 FY25 over Q2 FY24.

Shriram Finance surged 5.96% to Rs 3,275.80 after the companys standalone net profit jumped 18.30% to Rs 2,071.26 crore on 17.89% increase in total income to Rs 10,096.68 crore in Q2 FY25 over Q2 FY24.

InterGlobe Aviation (IndiGo) tumbled 10% after the company reported consolidated net loss of Rs 986.7 crore in Q2 FY25 as against net profit of Rs 188.9 crore posted in Q2 FY24. However, revenue from operations jumped 13.55% year on year (YoY) to Rs 16,969.6 crore in the quarter ended 30 September 2024.

Global Markets:

Dow Jones futures climbed 150 points Monday morning, signaling a positive open for US stocks. Investor sentiment improved after Israel opted against striking Iran's nuclear and oil facilities over the weekend, easing concerns about a major escalation in Middle Eastern tensions.

Asian shares traded higher, with the Japanese yen weakening to a three-month low. Investors eagerly awaited details of China's fiscal stimulus plans, as a recent report revealed a deepening decline in industrial profits. The upcoming National People's Congress meeting, scheduled for November 4-8, is expected to address financial work, state asset management, and potential changes to the bond-issuance quota or deficit ratio.

US stocks closed mixed on Friday, with the Nasdaq hitting a new intraday high while the S&P 500 and Dow Jones Industrial Average finished below recent peaks. The S&P 500 ended flat at 5,808.12 points on Friday, while the NASDAQ Composite rose 0.6%. The Dow Jones Industrial Average closed down 0.6%.

Investor interest in technology stocks intensified ahead of a slew of key earnings reports from major tech companies this week. Five of the "Magnificent Seven" tech giants are set to release their quarterly results. This week, investors will closely monitor a series of crucial economic indicators and corporate earnings reports for insights into the health of the economy and businesses.

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