Sensex, Nifty Rebound Led By ICICI Bank, Axis Bank 
Pedestrians walk past the Bombay Stock Exchange (BSE) building in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

Sensex, Nifty Rebound Led By ICICI Bank, Axis Bank 

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Closing Bell

Indian equity benchmarks climbed, along with their global peers, as investors look for clues on the economic recovery in a big earnings week and a Federal Reserve meeting.

The S&P BSE Sensex added little over 1% to 48,386.51, its biggest advance in nearly two weeks. The NSE Nifty 50 Index also gained a similar magnitude. Both indices on Friday capped their third consecutive weekly declines as India’s deadly wave of coronavirus infections raised investor concerns over the pace of business recovery.

Sensex, Nifty Rebound Led By ICICI Bank, Axis Bank 

The broader market slightly underperformed their larger peer. The S&P BSE MidCap Index gained 0.6% while the S&P SmallCap rose 0.9%. Eighteen of the 19 sector sub-indices compiled by BSE Ltd. climbed, led by a gauge of real estate firms. The S&P BSE Healthcare index was the lone loser, down 0.64%.

The market breadth was skewed in favour of the bulls. About 1,882 stocks gained, 1,103 declined and 224 remained unchanged on the BSE Ltd.

Dabur India Shares Down Most in Seven Months

Dabur India Ltd. fell 3.4%, more than any full-day loss since Sept. 21.

  • Stock advanced 8.3% in the past 52 weeks, compared with a 2.4% increase for the company's Bloomberg peers.
  • Trading volume was 2.33 million shares, 41% above the 20-day average of 1.65 million shares for this time of day.
  • Analysts have 30 buy, six hold, and two sell recommendations on the stock.
  • The price target of 587.54 rupees represents a 8.7% increase from the last price

Axis Bank, HCL Tech, ICICI Bank in Focus: Options Watch

  • ICICI Bank options volume 3.1x the 20-day average, with 105,106 calls changing hands vs 50,565 puts
    • Stock up 5%, volume 1.8x the 20-day average for this time of day
  • HCL Tech options volume 2.7x the average, with 43,148 calls vs 19,613 puts
    • Stock down 2.6%, volume 2.6x the average
  • UltraTech Cement options volume 1.9x the average, with 9,429 calls vs 2,399 puts
    • Stock up 3.3%, volume 0.7x the average
  • Axis Bank options volume 1.8x the average, with 36,084 calls vs 23,561 puts
    • Stock up 3.9%, volume 0.9x the average
  • Reliance Industries options volume 1.7x the average, with 143,463 calls vs 61,595 puts
    • Stock up 2.2%, volume 0.9x the average

Vedanta Jumps After Tamil Nadu Order On Plant

Tamil Nadu state has allowed Vedanta Ltd. to restart only its oxygen plant at its closed copper complex in the state for four months, the local government said in a statement.

  • The state government will supply electricity to the plant for four months and the oxygen produced from the factory will be prioritized for use in Tamil Nadu
  • The government may extend the operation of the plant beyond the time allowed if the current pandemic situation continues
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