15 Nov 2024

Stock Market Updates: Sensex and Nifty Maintain Modest Gains

Indian stock indices remained slightly positive during morning trading, buoyed by gains in heavyweights like Kotak Mahindra Bank, JSW Steel, and HDFC Bank. The market received a boost from comments by Oil Minister Hardeep Singh Puri, who suggested that Donald Trump’s potential return to the White House could increase global energy supplies and lower prices, benefiting India.  

The Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra highlighted India's strides in digitalization, noting that the digital economy currently accounts for 10% of the GDP and could grow to 20% by 2026. He emphasized India’s leadership in financial technology and its significant adoption of digital services by banks.  

Market Highlights:  
- Sensex: Trading at 77,781.38, up 90.43 points (0.12%), with 16 stocks advancing and 14 declining.  
- Nifty: Trading at 23,573.20, up 14.15 points (0.06%), with an even split of 25 advancing and 25 declining stocks.  

Sectoral Performance:  
- Top Gainers: Realty (+1.56%), Consumer Discretionary (+1.27%), Auto (+1.11%), Power (+1.02%).  
- Top Losers: FMCG (-0.59%), TECK (-0.13%), IT (-0.08%).  

Top Performers:  
- Sensex Gainers: Kotak Mahindra Bank (+1.29%), JSW Steel (+1.00%), HDFC Bank (+0.87%).  
- Nifty Gainers: Eicher Motors (+7.68%), Hero MotoCorp (+1.56%), Kotak Mahindra Bank (+1.08%).  

Global Market Trends:  
Asian markets mostly traded lower amid concerns over U.S. policy impacts on inflation and interest rates:  
- Shanghai Composite (-0.32%)  
- Hang Seng (-0.88%)  
- Jakarta Composite (-0.63%)  

However, Nikkei 225 edged up (+0.01%), and KOSPI gained (+0.35%).  

India’s evolving digital infrastructure and fintech innovations continue to create growth opportunities, as highlighted by the RBI. The outlook remains optimistic for long-term digital economic expansion.