Indian equities opened positively on Monday, October 28, fueled by robust buying in blue-chip stocks like ICICI Bank, SBI, and Infosys.
At 10:55 AM IST, the S&P BSE Sensex soared by 935 points, or 1.18%, reaching 80,337, while the NSE Nifty50 gained 249 points, or 1.03%, climbing to 24,430.
Top performers on NSE and Sensex
Leading gainers on the NSE included Shriram Finance, ICICI Bank, SBI, BPCL, and NTPC.
In contrast, the top laggards were Coal India, ONGC, L&T, ITC, and Tech Mahindra.
ICICI Bank was the standout performer on the Sensex, rising 3.1% following strong Q2 earnings, with SBI and NTPC also showing notable gains.
With a favorable market breadth, out of the 3,144 stocks traded on the BSE, 1,896 advanced, 1,103 declined, and 145 remained unchanged, according to Upstox.
InterGlobe Aviation’s shares plummeted 10% to ₹3,929.50 on the NSE after reporting a Q2 loss of ₹986.7 crore, largely due to grounded planes and increased fuel costs.
CEO Pieter Elbers stated, “Our performance faced seasonal headwinds and elevated costs due to aircraft groundings, which are now stabilizing.”
In contrast, shares of Texmaco Rail rose 5% to ₹207.30 on the BSE, driven by solid Q2 results.
The BSE MidCap index slipped 0.22% to 45,354.71, while the BSE SmallCap index declined 0.68% to 51,980.80.
Among sectors, only banking, finance, and IT showed positive movement, with the BSE Bankex increasing nearly 1% to ₹58,529.04.
On the global front, Japan’s Nikkei gained 1.6% after initial losses, while the yen fell 0.5% to a three-month low of 153.3 per dollar following the ruling Liberal Democratic Party’s (LDP) loss of its parliamentary majority. Additionally, oil prices dipped
Waaree Energies shares debut at 66% premium
Waaree Energies had a strong stock market debut on October 28, with shares opening at ₹2,500, representing a substantial premium of 66.3% above the issue price of ₹1,503 per share on the National Stock Exchange (NSE).
However, these gains fell short of grey market expectations, where shares were trading at a premium of 84%.
The grey market is an unofficial platform where shares are traded prior to the official subscription opening and continue until the listing day.
In other stock market news, DLF stock has jumped 6% after reporting that its Q2 net profit more than doubled, leading to bullish sentiments from brokerages. Bharti Airtel shares are also trading higher ahead of its Q2 earnings report.
Meanwhile, Bandhan Bank shares have risen 8% following a 30% increase in Q2 profit. Jefferies has maintained a ‘buy’ rating on the bank, setting a target price of ₹240.
On the other hand, IDFC First Bank shares have plunged 9% after the bank reported a 73% decline in Q2 net profit. Additionally, Deepak Builders & Engineers shares have listed at a 1.5% discount to their IPO price.
The post BSE Sensex, Nifty50 on October 28: Shriram Finance, ICICI soar while Coal India, ONGC plunge appeared first on Invezz