Inventory Market LIVE: Sensex Buying and selling Earnings, Nifty Crossing 11,700 Mark; Outperform midcap and smallcap indices
Stock market news today | Sensex, Nifty, Stock Quotes LIVE: Sensex and Nifty opened flat on a negative bias but soon recovered and moved higher. S & P BSE Sensex traded in the green with a plus of over 150 points, while the Nifty 50 reached the 11,700 mark again. HCL Technologies was up over 2%, followed by ONGC and Nestle. Power Grid, Maruti Suzuki India, and Kotak Mahindra Bank were the top drags, but none of them dropped more than 1%. Midcap and smallcap indices outperformed the benchmark in both BSE and NSE. Among Asian peers, Shanghai Composite traded marginally on Friday morning, while Hang Seng, along with KOSPI, KOSDAQ, TOPIX and Nikkei, suffered 225 losses.
Core sector production declined for the seventh straight month, but by only 0.8% in September. In August production in the eight core industries had shrunk by 7.3%. Economists say this is a sign of recovery after tough lockdown measures were eased. It is believed that coal, electricity, and steel helped reduce the contraction. "The core sector data reflects the fact that further economic contraction appears to have been largely halted and that economic activity may gradually accelerate," said Joseph Thomas, director of research – Emkay Wealth Management. During the month, crude oil, natural gas, refined products, fertilizers and cement saw negative growth.