Stock Market Live: Nifty, Sensex Trade Higher As HDFC Bank, Infosys Share Prices Rise

European share indices were trading on a mixed note on Tuesday as market participants await eurozone CPI data for October. The data will be published on 3:30 p.m.

LTIMindtree Ltd. extended pact with Europe's Nexi Group for IT solutions, it said in an exchange filing.

Several public sector undertakings saw an uptick in stock prices on Tuesday following the finance ministry's announcement of revised norms for dividend payouts, share buybacks, and stock splits. Read more here.

Rupee fell 3 paise to a record low of 84.42 against the US dollar. It closed at 84.39 on Monday, according to data on Bloomberg.

Unicommerce Esolution Ltd. has expanded its partnership with Sugar Cosmetics to offer retail operation solutions, according to an exchange filing.

InterGlobe Aviation Ltd., IndiGo's parent company, saw an over 3% increase in its share price on Tuesday after Goldman Sachs upgraded the target price of the stock.

Godawari Power And Ispat Ltd. will buy stakes to acquire a 51% stake in Jammu Pigments Ltd. for Rs 255 crore and cancels the proposed transaction for acquiring a 74% stake in the Jammu Pigments unit, RG Pigments, the company said in an exchange filing.

Akums Drugs and Pharmaceuticals Ltd. has acquired exclusive rights to sell certain Caregen products in India, the company said in an exchange filing.

The NSE India Volatility Index plunged 16.05% to 12.73, the lowest level since Oct 24. It pared losses to trade 5.79% lower at 14.29 as of 12:31 p.m.

NBCC (India) Ltd. has received multiple orders worth Rs 112 crore, according to an exchange filing.

Shares of PG Electroplast rose over 15% on Tuesday, after the integrated EMS player signed a definitive agreement with Spiro Mobility, an affordable electric two-wheeler company based in Africa.

In its latest report on the investment outlook for Asia in 2025, HSBC has highlighted two Indian stocks—KIMS and Axis Bank—as part of its top stock picks for the year ahead. Read more here.

The IPO was subscribed 0.15 times, or 15%, as of 11:42 a.m. on Tuesday.

• Qualified institutional buyers: Nil.

• Non-institutional investors: 0.06 times, or 6%.

• Retail investors: 0.64 times, or 64%.

• Portion reserved for employees: 0.08 times, or 8%.

• Portion reserved for shareholders: 0.26 times, 26%.

Havells India Ltd. is to set up refrigerator manufacturing unit in Rajasthan with an investment of Rs 480 crore. The unit will have a production capacity of 14 lakh units, the company said in an exchange filing.

Zee Entertainment's share price recorded its best jump since August 27 after Punit Goenka resigned as managing director of the company. But, he will continue to hold the position of CEO and shall entirely focus on his operational responsibilities, an exchange filing by the company said Monday.

Shilpa Medicare received Europe Regulator's Certificate Of Suitability For Nifedipine active pharmaceutical ingredient, it said in an exchange filing.

DCM Shriram Ltd. increased capacity at Uttar Pradesh sugar plant by 2,100 tonnes of cane crushed per day, it said in an exchange filing.

Shares of Suzlon Energy Ltd. surged to hit a 5% upper circuit on Tuesday after Morgan Stanley upgraded the stock to 'overweight', citing recent stock correction and growth opportunity in wind original equipment manufacturer.

TVS Motor Co. launched new Apache RTR 160 priced at Rs 1.4 lakh ex-Showroom, it said in an exchange filing.

Shares of city gas distributors Indraprastha Gas Ltd., Mahanagar Gas Ltd., and Gujarat Gas Ltd. continued their declines on Tuesday, as more brokerages downgraded the stock's rating and cut target prices.

Waaree Energies Ltd. share price fell over 6% on Tuesday despite positive result for second quarter as the company's topline remained flat.

Honasa Consumer Ltd. share price continued its steep fall on Tuesday. The stock hit record low for a second day in a row. It fell as much as 18.47% to Rs 255.25 apiece, which is the lowest level so far. It pared losses to trade 13.91% down at Rs 255.90 apiece as of 09:34 a.m., as compared to 0.93% advance on NSE Nifty 50 index.

The NSE Nifty 50 and BSE Sensex opened higher for second day in a row on Tuesday as Infosys Ltd. and ICICI Bank Ltd. share prices lead. As of 09:17 a.m., the Nifty 50 was 139.25 points or 0.59% higher at 23,593.05, and the Sensex was 462.07 points or 0.60% higher at 77,801.08.

Gains across Asia–Pacific markets also supported the Indian benchmarks.

"In the domestic market, the gradual easing of Foreign Institutional Investors' selling pressure, a favorable risk-reward ratio after a 10% correction in the Nifty from its peak, attractive valuations, and strong domestic growth prospects are all expected to support positive sentiment. Yesterday, the Nifty closed below its 200-day moving average for the first time in 19 months, but a bounce back is anticipated, providing a good entry point after the sharp correction. The market may remain range-bound today due to tomorrow's holiday in observance of the Maharashtra State Assembly Elections," said Vikas Jain, head, research at Reliance Securities.

Infosys Ltd., Reliance Industries Ltd., HDFC Bank Ltd., NTPC Ltd., and Mahindra & Mahindra Ltd. added to the index.

Sun Pharmaceutical Industries Ltd., Axis Bank Ltd., SBI Life Insurance Co. Ltd., Shriram Finance Ltd., and Hindustan Unilever Ltd. limited gains in the index.

On NSE, 11 sectors advanced and one declined out of 12. The NSE Nifty Media advanced the most and NSE Nifty Pharma declined the most.

The BSE Midcap rose 0.77% and the BSE Smallcap rose 1.35%.

On BSE, 21 sectoral indices were trading higher during open. The BSE Services rose the most, and the BSE Bankex declined the most.

Market breadth was skewed in favour of buyers. Around 2,411 stocks advanced, 475 stocks declined, and 79 stocks remained unchanged on BSE.

At pre–open, the NSE Nifty 50 was 0.32% higher at 23,529.55, and the BSE Sensex was 0.27% higher at 77,548.00.

The yield on the 10-year bond opened flat at 6.85%. It closed at 6.85% on Monday, according to data on Bloomberg.

The rupee opened flat at 84.40 against the US dollar. It closed at 84.39 on Monday, according to data on Bloomberg.

• Morgan Stanley upgrades Suzlon Energy to Overweight, and cut target to Rs 71 vs Rs 78 earlier. The current target price implied a 20% upside

• Stock's steep 35% correction from 52 week high offers an opportunity

• Strong factors: Business moat, large 5.1 GW backlog

• Expect company's market share to rise to 35–40% by FY27 vs 25% in FY24

• Sales volume for financial year 2025 is estimated to fall to 1.3GW vs 1.5GW earlier

• F25-27 total sales volumes estimate unchanged at 7.15GW

• Retains FY26/27 margin estimates at 10%/12%

Key risks: Capacity addition delays, higher opex, higher competition

Domestic institutions and retail investors are yet to yield any return from the never-seen-before levels of buying on dips. The strategy—deployed to maximise returns—has been a pain so far, especially for new investors lured by a record rally in the first half of the year.

Domestic institutions have mopped stocks worth nearly Rs 1.5 lakh crore since Sept. 27 while global funds during the same period have sold over Rs 1.55 lakh crore—a record in terms of streak and magnitude. Till Nov. 13, retail investors had infused over Rs 35,500 crore into Indian equities, NSE data showed.

• Nomura Downgrades Indraprastha Gas Ltd. to 'Reduce', and keeps 'Reduce' on Mahanagar Gas Ltd.

• Brokerage cuts IGL's target to Rs 340 (4.5% upside)

• Brokerage cuts MGL's target to Rs1130 (no upside/downside)

• Ratings and targets reduced due to lower domestic gas allocation

• CGDs to face double whammy of lower margins, volume growth

• Expect IGL/MGL to raise CNG prices by Rs 8-9/Rs 9-10 per kg

• Expect triple whammy to be in store if PNGRB declares GAs as common carriers

Oil future prices steadied in Asia trade after posting the biggest gain in five weeks, Bloomberg reported. It was trading 0.04% higher at $73.33 a barrel as of 08:14 a.m.

Crude oil future prices rose as concerns increased over the commodity's supply outlook after production at the east–Europe's largest oilfield, Sverdrup halted because of an onshore power outage, Reuters reported.

Moreover, a decline in the US dollar prompted traders to stock up the commodity, which added to rise in prices. A decline in the greenback make the commodity cheap for other currency holders.

Most currencies in Asia rose against the greenback as the dollar index started to retreat from over one–year high. The Japanese yen was trading 0.34% higher at 154.14 as of 08:15 a.m. The offshore Chinese yuan was trading 0.15% higher at 7.2381.

The dollar index, which measures the strength of the greenback against six major currencies, snapped a six–day gaining streak to end 0.39% down at 106.28 on Monday. It was trading 0.06% down at 106.21 as of 8:10 a.m.

Gold spot and future prices snapped a six–day losing streak overnight as the dollar index and US treasury yields eased from their recent highs. In Asia session, the bullion extended gains to a second day.

The Bloomberg spot gold was trading 0.36% higher at $2,621.29 an ounce as of 08:4 a.m. The December future contract of the bullion was trading 0.31% higher at $2,622.80.

The yield on the US 10–year treasury note was trading flat with negative bias on Tuesday as concerns of likely impact of tax cuts and tariff hikes by the Donald Trump administration weighed.

The yield on the benchmark US 10–year treasury note was trading flat at 4.41%. It declined 3 basis points to 4.41% on Monday.

Asia–Pacific share indices gained, tracking overnight moves on Wall Street. Market participants look forward to China's policymakers' speak at the investors' summit.

The CSI 300 was 0.32% higher at 3,963.03, and the Nikkei 225 was 0.39% higher at 38,370.70. The S&P ASX 200 was 1.11% higher at 8,392.10 as of 07:45 a.m.

• Maintain buy, target: Rs485, upside 50.5%

• Opens a 90D Positive Short-term View.

• ⁠Stocks corrected by 28% since announcing buyback

• Positive points:

1. Upcoming pickup in tenancies from Voda Idea starting 3QFY25E

2. Acceleration in recovery of past dues from VI

3. Declining capex aiding FCF generation;

4. Improving visibility of dividend reinstatement by 4QFY25E.

Most US stock indices ended higher on Monday as treasuries declined, Bloomberg reported. Market participants await earning reports from Nvidia Corp, scheduled for release this week.

The Dow Jones Industrial Average ended 0.13% lower at 43,389.60. The S&P 500 ended 0.39% higher at 5,893.62. The Nasdaq Composite ended 0.60% higher at 18,791.81.

The GIFT Nifty was trading near 23,500 in early trade on Tuesday. Oil and Natural Gas Corp Ltd., Reliance Power Ltd., and Zee Entertainment Enterprises Ltd. share prices are likely to react.

The GIFT Nifty was trading 0.03%, or 6.50 points, higher at 23,531.50 as of 06:38 a.m.

Benchmark equity indices extended their fall for another session with the Nifty marking it's longest losing streak — eight sessions — since Feb. 28, 2023 and Sensex recording a fourth session of decline.

Nifty ended 0.3% or 78.9 points lower at 23,453.80 and the Sensex ended 0.3% or 241.3 points lower at 77,339.01.

"With Q2 earning season coming to a close and FII selling continuing, we expect Nifty to consolidate within a broad range due to the absence of any positive trigger, said Siddhartha Khemka, head, research, wealth management, Motilal Oswal Financial Services.