Indian Stocks
All posts from Indian Stocks
Indian Stocks in Indian Stocks,

India: benchmarks end slightly lower

India: benchmarks end slightly lower

Indian stock indices showed marginally negative performance on Thursday, November 2 on the heels of the FOMC meeting, at which the regulator decided to leave monetary policy on hold.

By the close, the Nifty 50 receded 0.16% to 10,423.80, and the BSE Sensex 30 was 0.08% lower at 33,573.22.

On the Nifty 50, Aurobindo Pharma and Lupin outperformed the broader market, surging 3.67% and 3.22%, respectively. Hero MotoCorp and Tech Mahindra were out of luck, sliding 4.21% and 2.19%.

Among the BSE Sensex 30 gainers, Lupin and Sun Pharma stood out, advancing 3.26% and 2.69%. On the other side of the spectrum, Hero MotoCorp and ITC dropped 2.19% and 1.52%.

On the currency market, the USD/INR pair firmed 0.15% to 64.623, and EUR/INR advanced 0.44% to 75.342. The 10-year bond yield reached 6.878%.

Pharmaceutical names stood out among the advancers led by Sun Pharmaceutical Industries, the sector’s largest player in terms of market capitalization.

Conversely, automotive stocks came under pressure, with motorcycle maker Hero MotoCorp retreating 4.21% and Mahindra&Mahindra shedding over 1%.

From a technical standpoint, the BSE Sensex 30 has broken through to the upside from the 31,100-32,700 range, reaching the 33,500 mark. Stochastic lines are on the buy side, but have long been in overbought territory, so the uptrend appears to be petering out.