Mon, Feb 5, 2024 1:21 PM
Mid-day Mood | Sensex, Nifty muted as post-Budget rally loses steam
A Flip by Avya Verma
BSE-listed companies gained nearly ₹8 lakh crore in market capitalization on Wednesday, with the Nifty 50 surging 277 points to close at 24,484, as investor sentiment soared following projected U.S. President Donald Trump’s electoral victory. The rally was broad-based, with all sectoral indices ending in the green. The Nifty IT index rose 4%, buoyed by a strengthening dollar and a weak rupee.
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Today, the shares of Bharat Heavy Electricals Ltd have rallied over 5 per cent and are currently trading at around Rs 247.50 per share on the BSE. The company’s current market capitalization stands at Rs 86,181.07 crore. Additionally, the shares have delivered over 90 per cent return in the past 1 year.
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Tata Motors, India’s largest electric vehicle manufacturer, is set to announce its second-quarter earnings for FY25 on November 8. Sales are anticipated to remain flat year-over-year, as weaker volumes across several divisions weigh on performance. A Moneycontrol poll of six brokerage firms projects that Tata Motors, the maker of Nexon, will report flat year-on-year revenue at Rs 1.05 lakh crore.
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