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Stock Market Today, November 12: At 9:18 am, the Sensex gains around 168 points, or 0.20%, to trade at 82,047.04, while the Nifty advances 28.75 points, or 0.11%, to 25,283.80.
Stock Market Today.
Stock Market Today, November 12: The domestic equity markets opened Thursday’s trading session on a positive note, extending the cautious optimism seen in the previous session. At 9:18 am, the Sensex gained around 168 points, or 0.20%, to trade at 82,047.04, while the Nifty advanced 28.75 points, or 0.11%, to 25,283.80.
The broader market also witnessed buying interest, with the Nifty Midcap 100 rising 0.34% and the Nifty Smallcap 100 gaining 0.95%. The Nifty 500 advanced 0.25%, indicating relatively stronger participation beyond frontline stocks.
Sectorally, banking and financial stocks emerged as the key drivers of the early gains. The Nifty Financial Services index advanced 0.92%, while the Nifty Bank rose 0.51%. The Nifty Financial Services Ex-Bank index was up 1.23%.
The Nifty Media index was the top sectoral gainer, rising 1.26%, followed by financial services, consumer durables and realty stocks. The Nifty PSU Bank and Nifty Private Bank indices gained 0.37% and 0.60%, respectively.
However, gains remained selective, with the Nifty IT declining 0.48%, Nifty Auto falling 0.47% and Nifty Pharma slipping 0.45%. FMCG and healthcare stocks also traded marginally lower.
Among individual stocks, Bajaj Finance, ITC, State Bank of India, Bajaj Finserv, ICICI Bank and Axis Bank were among the notable gainers in the Sensex pack. On the other hand, Hindustan Unilever, Mahindra & Mahindra, Bharti Airtel, UltraTech Cement, Maruti Suzuki and Tata Consultancy Services were among the laggards.
India VIX, the market’s volatility gauge, declined 3.38% to 16.96, indicating some easing in near-term market volatility.
MSCI Rejig, FPI Inflows In Focus
Investors are also tracking the latest MSCI index rejig announced on Wednesday. MSCI has added four Indian stocks — Coforge, Life Insurance Corporation of India (LIC), Adani Green Energy and Meesho — to its Global Standard Index, while PI Industries has been excluded.
The changes will take effect after the market close on November 30. According to estimates by Nuvama Alternative & Quantitative Research, the four additions could attract passive inflows, with Coforge expected to see the highest inflows of around $630 million, followed by LIC at $468 million, Adani Green Energy at $348 million and Meesho at $307 million.
India’s weight in the MSCI Emerging Markets Index is expected to increase from 11.5% to 11.7%, potentially attracting incremental passive investment inflows of around $2 billion. The development could keep the affected stocks in focus in the coming sessions.
October CPI Inflation Data In Focus
On the domestic front, investors will closely monitor India’s retail inflation data for October, scheduled to be released later on Thursday. The inflation print will be important for assessing the price trajectory and its implications for the Reserve Bank of India’s monetary policy outlook.
Retail inflation had accelerated to 5.54% in September, while food inflation stood at 7.74%, according to the latest available official data. Investors will look for signs of moderation or further price pressures in the October numbers.
Global Market Cues: Wall Street Rallies, Asian Markets Mixed
Overnight, US equities ended higher, offering some support to domestic market sentiment. The Dow Jones Industrial Average gained 254.60 points, or 0.49%, to close at 52,486.49. The S&P 500 advanced 1.31% to 7,619.38, while the Nasdaq Composite jumped 1.60% to 25,466.19.
However, Asian markets presented a mixed picture on Thursday. Japan’s Nikkei 225 and South Korea’s Kospi traded higher, while Hong Kong market futures indicated a weaker opening. South Korea’s Kosdaq also remained under pressure.
Crude oil prices remained another important factor for domestic equities. Brent crude futures traded around $92.18 per barrel, while US West Texas Intermediate (WTI) crude was near $85.98. Lower crude prices could provide some relief to India, a major oil importer, by easing imported inflation and pressure on the country’s current account.
Meanwhile, foreign institutional investors (FIIs) bought Indian equities worth Rs 12,563.33 crore on Wednesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 8,434.53 crore.
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Ask News18MSCI added four Indian stocks—Coforge, Life Insurance Corporation of India (LIC), Adani Green Energy, and Meesho—to its Global Standard Index, while PI Industries was excluded.
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