Stock Market Today:National stock markets opened on Tuesday in green after positive signals from their Asian peers, a record close of the US S&P 500 and a drop in crude oil prices.
The BSE’s 30-share sensitive index (Sensex) opened 240 points or 0.29 per cent higher, led by media and IT stocks.
While in the first hours of trading the benchmark index of the National Stock Exchange was trading 66 points or 0.26 percent higher.
Markets closed 0.7 per cent higher on Monday after suffering significant capital outflows from foreign institutional investors (FIIs) in the past two weeks. The trend continued on Monday, when FII pulled out shares worth Rs 37.32 billion ($444 million) and were net sellers for the 11th straight session. On the other hand, domestic investors bought net shares worth Rs 22.78 billion.
Reliance Industries share fell as much as nearly 1.1 per cent intraday after the company reported a 4.77 per cent decline in net profit (YoY) for the second quarter of the current fiscal year (Q2FY25). Mukesh Ambani The Rs-led index heavyweight posted a net profit of Rs 16,563 crore as against Rs 17,394 crore reported a year ago in the same quarter.
The company’s operating income remained stable at Rs 2.32 lakh crore year-on-year.
On the other hand, HCL Technologies shares rose 1.12 per cent after the company reported a healthy balance sheet for the second quarter. The IT major on Monday reported higher-than-expected second-quarter revenue as customer discretionary spending has started to recover.
The company’s consolidated revenue rose 8.2 per cent year-on-year (YoY) to Rs 28,862 crore in the July-September quarter.
In the last six months, the company’s shares have risen over 23.58 percent, while the stock’s 12-month returns stand at 46.38 percent.
In terms of sectoral performance, metal stocks were driving the market lower: Nifty Metal fell 0.84 per cent, while IT, banking and media stocks drove the market higher in the first hour of trading on the Tuesday.
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