Sensex up over 300 pts, Nifty above 19,300 amid broad-based buying and strong global cues

The domestic equity indices on Monday, November 6, opened higher amid buying in all sectoral indices except PSU Banks.

Besides, positive global cues such as the rally in Asian markets as market participants priced in earlier interest rate cuts in the United States and Europe also boosted sentiment.

At the time of filing this report, both indices opened above 0.52 per cent higher; the S&P BSE Sensex was up 334.13 points at 64,697.91 and the NSE Nifty was up 99.5 points at 19.330.10.

In the broader market, Nifty Mid Cap 100 and Small Cap 100 opened in green.

High-beta Nifty Bank was up 0.41 per cent at 43,494.7.

BUZZING STOCKS

Aarti Industries shares were up over 5 per cent after the company announced its September quarter results.

Data Patterns (India) shares were up nearly 5 per cent after it announced its Q2 results.

JK Cement shares were up over 4 per cent after the company posted its Q2 results.

Godrej Agrovet shares were up over 3 per cent higher after the company reported good Q2 numbers.

On the flip side, Thirumalai Chemicals shares slipped over 3 per cent after the company posted weak Q2 results.

Punjab & Sind Bank shares were down over 2 per cent after posting a weak Q2.

Krsnaa Diagnostic shares were down over 5 per cent after the company posted weal Q2 results.

Shipping Corporation shares were down over 3 per cent after it posted weak Q2.

Gujarat Fluorochemicals shares were down over 4 per cent after posting weak Q2 numbers.

JK Paper shares were down nearly 3 per cent after posting weak Q2.

Indigo Paints shares were down over 2 per cent after the company’s profit declined.

Bank of Baroda shares were down over 3 per cent after posting Q2 results.

GLOBAL MARKETS

Asian shares rallied for a fourth straight session on Monday after markets moved to price in earlier rate cuts in the United States and Europe, bullish wagers that will be tested by a swarm of central bank speakers this week.

Battered bond markets also enjoyed a welcome recovery as a benign U.S. payrolls report and upbeat productivity numbers suggested the labour market was cooling enough to obviate the need for further rate hikes from the Federal Reserve.