Despite positive global trends and increasing optimism regarding potential interest rate cuts by the Federal Reserve and several other significant central banks, Indian shares are experiencing mixed results this Friday morning. Investors appear cautious following the recent market uptrend.
Nevertheless, benchmark indices Sensex and Nifty50 reached new all-time highs earlier today. The Sensex, which soared to 85,978.25, was down by 80.95 points or 0.09%, settling at 85,755.17 recently. Meanwhile, the Nifty50, having risen to 26,277.35, was slightly up at 26,216.75.
Among the top performers in the Sensex, Infosys is rising nearly 2%. The IT giant announced a strategic collaboration with Sally Beauty to enhance enterprise-scale IT efficiencies through hyper-automation. Titan is likewise up by nearly 2%. Sun Pharmaceutical Industries, Bajaj Finserv, IndusInd Bank, and Asian Paints have gained between 1.5% to 1.8%.
Other stocks like Hind Unilever, HCL Technologies, NTPC, Tata Steel, Tata Consultancy Services, Tech Mahindra, ITC, M&M, and Maruti Suzuki are also seeing moderate gains.
On the downside, Power Grid Corporation has fallen by 2.7%, Bharti Airtel by about 1.9%, and Larsen & Toubro by 1.3%. Major banks such as HDFC Bank, Kotak Bank, and ICICI Bank are down between 0.7% to 1%, while Reliance Industries dipped by 0.3%.
In the Nifty50 index, BPCL is the top gainer, rising by 3.7%. Grasim Industries is up nearly 2%, with Coal India, Cipla, HDFC Life, Britannia Industries, SBI Life, and Eicher Motors also in positive territory.
Conversely, HeroMotoCorp, Dr. Reddy's Laboratories, Divi's Laboratories, and ONGC are showing weakness.
KEC International Limited announced that it raised over Rs 870 crores through a qualified institutional placement of shares priced at Rs 955 per share, though its shares are down by 0.8%.
Biocon Limited shares have seen a slight decline following the announcement of a licensing and supply agreement with Tabuk Pharmaceutical Manufacturing Company, a subsidiary of Astra Industrial Group, to commercialize its GLP-1 products for treating diabetes and chronic weight management in select Middle Eastern countries.
Adani Green Energy Limited announced the completion of a 1,150 MWac joint venture with TotalEnergies. As part of this venture, TotalEnergies invested US$ 444 million in an AGEL subsidiary to acquire a 50% stake in AGEL's solar projects at the world's largest renewable energy plant in Khavda, Gujarat. Adani Green Energy's stock is marginally up at Rs 2,061.
