As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 72.48 points or 0.11% to 64,904.68. The Nifty 50 index added 30.05 points or 0.15% to 19,425.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index gained 0.33% while the S&P BSE Small-Cap index rose 0.38%.

The market breadth was positive. On the BSE, 1,924 shares rose and 1,765 shares fell. A total of 131 shares were unchanged.

New Listing:

Shares of ESAF Small Finance Bank closed at Rs 69.05 on the BSE, representing a premium of 15.08% as compared with the issue price of Rs 60.

The scrip was listed at Rs 71.90, exhibiting a premium of 19.83% to the issue price. The stock has hit a high of 74.70 and a low of 68.50. On the BSE, over 49.39 lakh shares of the company were traded in the counter so far.

Stocks in Spotlight:

Hindalco Industries shed 0.64%. The Aditya Birla Group company?s consolidated net profit rose marginally to Rs 2196 crore in Q2 FY24 as against Rs 2,205 crore recorded in Q2 FY23. Revenue from operations declined 3.57% year on year to Rs 54169 crore during the quarter.

M&M declined 1.86%. The auto major's standalone net profit surged 66.92% to Rs 3,451.88 crore in Q2 FY24 as against Rs 2,068 crore recorded in Q2 FY23. Revenue from operations increased 16.59% year on year (YoY) to Rs 25,772.68 crore in the quarter ended 30 September 2023.

During the quarter, M&M sold 2,12,078 vehicles, recording a growth of 18% as against 1,79,673 vehicles sold in the same quarter a year ago. Total tractors sold in Q2 FY24 stood at 89,101 units, down 4% from 92,590 units sold in Q2 FY23.

Muthoot Finance slipped 3.28%. The company reported consolidated net profit of Rs 1,095.28 crore in Q2 FY24, higher from Rs 901.62 crore posted in Q2 FY23. Total income rose to Rs 3631.94 crore in Q2 FY24 from Rs 2841.85 crore in Q2 FY23.

Piramal Enterprises tumbled 4.10%. The company reported consolidated net profit of Rs 48.19 crore in Q2 FY24 as against net loss of Rs 1,536.39 crore reported in Q2 FY23. Total income fell 3% to Rs 914 crore in Q2 FY24 as compared with Rs 943 crore posted in corresponding quarter last year.

Rail Vikas Nigam (RVNL) declined 2.65%. The company reported 3.42% increase in consolidated net profit to Rs 394.26 crore in Q2 FY24 as compared with Rs 381.22 crore in Q2 FY23. Revenue from operations increased marginally to Rs 4,914.32 crore in Q2 FY24 from Rs 4,908.90 crore reported in Q2 FY23.

Ashok Leyland rose 1.94%. The board of directors of Ashok Leyland has approved an investment of Rs 1200 crore in Switch Mobility as equity through its holding company Optare PLC UK. The funds infused will be used for capital expenditure, R&D and meeting operational requirements both in UK and India.

Glaxosmithkline Pharmaceuticals (GSK Pharma) added 1% after the company?s net profit rose 11.36% to Rs 215.54 crore in Q2 FY24 as against Rs 193.56 crore recorded in Q2 FY23. Revenue from operations grew by 5.27% year on year to Rs 953.38 crore in the quarter ended 30 September 2023.

Zee Entertainment Enterprises (ZEEL) slumped 5.29% after the company reported 5.29% decline in consolidated net profit (from continuing operations) to Rs 129.88 crore in Q2 FY24 as against Rs 137.13 crore posted in Q2 FY23. Revenue from operations in Q2 FY24 was at Rs 2437.79 crore, registering a growth of 20.45% from Rs 2,023.89 crore recorded in the same period a year ago.

Global Markets:

Markets in Europe and Asian slipped on Friday, retreating from small gains made in the previous session amid a downbeat tone set by U.S. markets overnight.

US stocks declined on Thursday, effectively ending the S&P 500's eight day win streak that delivered a gain of more than 6%. The decline in stocks came after Federal Reserve Chairman Jerome Powell made hawkish comments during a panel discussion at an International Monetary Fund conference.

Fed Chair Jerome Powell said in a speech Thursday that the central bank thinks more may be needed to bring down inflation. ?The Federal Open Market Committee is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2% over time; we are not confident that we have achieved such a stance,? he said in his prepared speech.

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