Sensex and Nifty edge up for a third day as realty jumps 4.5% and Godrej Industries gains on Temasek deal

Indian shares ended Thursday, November 12, with small gains after a session that swung both ways. The Sensex closed 31.61 points higher at 81,911.01 and the Nifty 50 rose 44.30 points to 25,299.35, a third straight day of gains. The Nifty had touched an intraday high of 25,384.80 before profit-taking in IT, FMCG and automobile shares trimmed the rise.

The broader market did better than the benchmarks. The Nifty Midcap 100 rose 0.85% and the Nifty Smallcap 100 1.12%. On the NSE, 2,377 shares advanced and 1,878 declined, by one count.

Realty leads, autos slip

Nifty Realty was the best sector, up 4.51%, followed by Nifty Media at 2.46%, Nifty PSU Bank at 1.51% and Nifty Financial Services at 1.42%. None of the market reports read for this story gives a reason for the surge in property stocks. Nifty Auto fell 1.02%, Nifty FMCG 0.74%, Nifty Energy 0.42% and Nifty IT 0.41%.

Among Nifty 50 shares, HDFC Life, Shriram Finance, Bajaj Finance, SBI Life and State Bank of India gained the most. Nestle India, Mahindra & Mahindra, Power Grid, Hindustan Unilever and Grasim were the main losers.

The index is now up roughly 10% in November. It closed at 25,255.05 on Wednesday and had ended Monday, November 9, at its highest since February, after markets were shut on November 10 for the holiday.

Temasek puts ₹2,500 crore into Godrej Capital

The stock of the day was Godrej Industries. The group said in an exchange filing that Temasek will invest ₹2,500 crore in Godrej Capital, its financial services arm, through its affiliate Jongsong Investments, at a valuation of up to ₹28,000 crore. The Godrej Group will keep about 80% of the company. The shares rose as much as 9.7% to ₹1,062.90 during the day.

Godrej Capital had assets under management of ₹35,000 crore at the end of October and lends in more than 100 cities, with home loans, loans against property, business loans and gold loans. Chairperson Pirojsha Godrej said the group’s ambition is to build it into a ₹1 lakh crore AUM franchise by 2031. Chief executive Manish Shah said the money will go to growth, wider reach and technology.

Results and company news

Quarterly results moved several stocks. Bharat Dynamics fell as much as 6.6% to ₹1,026.50 after its September-quarter consolidated net profit fell 15% from a year earlier. Hindustan Aeronautics dropped 4.29% to ₹4,736.60 as its EBITDA margin slipped to 22.9% from 23.5%. Tata Power slipped 0.8% even as it reported a profit about 49% higher and named Sanjay Banga as chief executive. Aurobindo Pharma lost 2.3% to ₹1,785.40 after the US Food and Drug Administration put one of its US units in the “official action indicated” category.

Bajaj Finance was reported to have launched a share sale of more than $1 billion to institutional investors. The MSCI India index was reported to add Adani Green Energy, Coforge, LIC and Meesho, and to drop PI Industries.

Money, oil and the rupee

Foreign portfolio investors bought ₹12,563.33 crore of Indian equities on Wednesday, while domestic institutions sold ₹8,434.53 crore. FPI purchases in November have reached about $6.43 billion, the strongest month since September 2024. Brent crude fell more than 1% to about $92 a barrel on hopes of progress in Middle East and Russia-Ukraine talks, which helps India as a large oil importer. The rupee closed at 94.03 to the dollar, weaker by 34 paise, with the US 10-year Treasury yield near 4.99%.

Gold fell 1.15% to ₹1,38,114 per 10 grams and silver 1.59% to ₹1,81,592 a kg on MCX futures in the afternoon.

What next

The October inflation figure came after the close: retail inflation rose to 6.09%, above the RBI’s 6% ceiling, with food prices up 8.94%. Markets react to it when trading resumes on Friday, November 13. Vatsal Bhuva of LKP Securities sees 25,000 as the Nifty’s immediate support, then 24,800, with resistance at 25,500. Vinod Nair of Geojit said the market should stay selectively constructive, depending on foreign flows and inflation.