Markets@ 10: Nifty and Sensex climb after morning volatility

The market is experiencing a lot of ups and downs. It opened lower, dropped again, then bounced back briefly, only to fall once more.

The Nifty index fell to a low of 24,378.10 in the morning but later rose to a high of 24,540.00. Similarly, the Sensex dropped to 79,891.68 before climbing to 80,441.06.

The Bank Nifty also experienced fluctuations. While the midcap index saw gains, the smallcap index went down.

Sectors like realty, oil and gas, auto, PSU banks, and healthcare faced declines, while the IT sector performed well.

Cochin Shipyard’s shares fell by four percent in the morning and have dropped 21.5 percent over the past month. Its share price has halved in the last six months. Mazagon Dock Shipyard and Garden Reach Shipbuilders also saw their shares fall by ten percent yesterday and continued to drop by two percent this morning.

On a positive note, NMDC’s share price rose by three percent after it increased iron ore prices for the second time this month.

Paytm shares rose by five percent thanks to new UPI user approvals and strong third-quarter results.

Following good earnings reports, Coforge shares increased by eight percent, Bajaj Finance by three percent, Amber Enterprises by eight percent, Max Finance by six percent, and Persistent by five percent.

However, Zomato shares fell by five percent, and Shoppers Stop dropped by six percent after their third-quarter results.

The rupee started the day with small gains, with the dollar valued at Rs 84.07.

Gold price rises

Gold prices increased to $2,749 per ounce in the global market. In Kerala, the price of gold jewellery rose by Rs 320, reaching a record high of Rs 58,720.

Crude oil prices fell slightly, with Brent crude at $75.90. This is the latest update on the market.