MARKET: Sensex adds 300pts, Nifty at 18,200; Nykaa dips 5%, Hero Moto up 3%

Opening Bell LIVE market updates: Supported by firm global cues, and broad-based buying back home, the benchmark indices started nearly 0.5 per cent higher on Monday. In early deals, the BSE Sensex quoted at 61,026 levels, up 339 points, while the Nifty50 was at 18,197 levels, up 94 points.

Hero MotoCorp was among the top gainers on the Nifty index, up 3 per cent, on a healthy operational performance in Q2. The company reported standalone Ebitda of Rs 1,156 crore, up from Rs 515 crore YoY, and higher than Street estimates of Rs 904 crore. Margins, meanwhile, came in at 13.5 per cent, up from 9.4 per cent YoY and Bloomberg estimate of 11.2 per cent.

In the broader markets, the BSE MidCap and SmallCap indices added up to 0.4 per cent.

Among individual stocks, shares of Nykaa dropped 5.6 per cent after the fashion and cosmetics online retailer reported 96 per cent YoY plunge in Q2 net profit to Rs 1.1 crore in the September quarter. The company’s revenue, however, increased 47 per cent YoY to Rs 885 crore.

That apart, shares of SpiceJet fell 1.5 per cent as the airline reported widening of net loss to Rs 561.7 crore for the quarter ended September 2021 as against a net loss of Rs 112.6 crore in the corresponding period last fiascal.

Total income rose to Rs 1,538.6 crore from Rs 1,292.9 crore. Sectorally, all the indices were trading higher led by the Nifty Auto index, up 1 per cent, and the Nifty Bank index (up 0.8 per cent).

==================================================================== Pre-open session LIVE market updates: The headline indices ended the pre-open session in the positive territory on Monday, indicating a healthy start to the trading session. The BSE Sensex was up 151 points at 60,837 levels while the Nifty50 closed at 18,140 level, up 38 points. ===================================================================== (Updated at 8:05 AM) LIVE market updates: Domestic indices are eyeing a firm start to the week, supported by positive global cues. At 8:00 AM, SGX Nifty was up 88 points at 18,223 levels. That said, higher-than-expected retail inflation and slwoer IIP growth may cap upside in the markets.

Primary Market Update Policybazaar, Sigachi Industries, and SJS Enterprises are set to debut on the bourses today.

Meanwhile, Tarsons Products’ Rs 1,024 crore IPO, in the price band of Rs 635 to Rs 662, will open for subscription today and will close on November 17. Global cues

On Friday, the US markets shrugged off inflation worries and ended higher. The Dow Jones and S&P 500 gained 0.5 per cent and 0.7 per cent, respectively, while the Nasdaq rallied a per cent.

Cues from the neighbouring Asian markets were mostly positive this morning. Nikkei had jumped 0.5 per cent, while Shanghai Composite, Hang Seng and Straits Times were flat. Kospi and Taiwan Weighted index had rallied around a per cent each.

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