Sensex, Nifty End Higher For Fifth Day; Stocks With Europe Exposure Rally On Brexit Deal
Closing Bell: Sensex, Nifty Extend Gains For Fifth Day To End Near One-Month High
Indian equity indices extended gains for the fifth straight trading session to end near one-month high.
The S&P BSE Sensex rose 1.1 percent to close at 39,052 and the NSE Nifty 50 gained 1.07 percent to end at 11,586.35. both the benchmark indices ended at their highest levels since Sept. 24. The broader markets represented by the NSE Nifty 500 Index advanced 1.2 percent.
The equities with exposure to Europe witnessed a sudden spike in the last 30 minutes after the European Union and U.K. reached a historic Brexit deal, paving the way for Britain’s departure from the European Union.
“We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday so we can move on to other priorities like the cost of living, the NHS, violent crime and our environment,” U.K. Prime Minister Boris Johnson said in a tweet.
The market breadth was tilted in favour of buyers. About 1,122 stocks advanced and 653 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 3 percent rally. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.4 percent.
Global Market Update: Pound Rallies On Brexit Deal
U.S. equity-index futures turned higher with European stocks on Thursday as a new Brexit deal was announced and investors digested a string of corporate results.
- Futures on the S&P 500 Index climbed 0.4 percent.
- The Stoxx Europe 600 Index rose 0.2 percent.
- The U.K.’s FTSE 100 Index gained 0.2 percent.
- The MSCI Asia Pacific Index increased 0.1 percent.
- The MSCI Emerging Market Index jumped 0.6 percent.
- The euro rose 0.5 percent to $1.1129.
- The British pound climbed 0.8 percent to $1.2934.
Get your daily fix of global markets here.
Stocks With Europe Exposure Rally After U.K. PM Johnson Says Brexit Deal Done
Stocks with exposure to Europe surged after the European Union and U.K. reached a historic Brexit deal, paving the way for Britain’s departure from the European Union.
The U.K. Prime Minister Boris Johnson said in a tweet, “We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday so we can move on to other priorities like the cost of living, the NHS, violent crime and our environment.”
Shares of Tata Motors rose as much as 14.7 percent to Rs 144.35.
Besides, Shares of Motherson Sumi rose as much as 12.2 percent, to Rs 111.60. Also, shares of Bharat Forge, Mastek and Tata Elxsi jumped.
TVS Motor Jumps 7.6% After Announcing Q2 Results
Shares of TVS Motor rose as much as 7.6 percent after announcing September quarter results.
Key Earnings Highlights (Q2, YoY)
- Revenue down 12.9 percent to Rs 4347.84 crore
- Net Profit up 21 percent to Rs 255.01 crore
- Ebitda down 11 percent to Rs 381.95 crore
- Margin at 8.8 percent versus 8.6 percent.
Fab Four Stocks Of The Day
PNB Housing Finance
- Stock snapped seven-day losing streak and rose as much as 15 percent to Rs 437.
- Disbursements down 35 percent QoQ to Rs 4,970 crore
- GNPA stood at 0.84 percent versus 0.85 percent on QOQ
- AUM standing at Rs 89,741 crore and loan assets stood at Rs 74,353 crore.
Indiabulls Housing Finance
- Stock rose as much as 17.9 percent to Rs 204.
- Crisil Reaffirms long term-rating at AA+ and short-term rating at A1+.
- Company has aggregate liquidity of more than Rs 18,500 crore, which provides 100 percent cover for debt repayments till September 2020.
- Received sanctions to raise Rs 5,200 crore for via term loans.
Motherson Sumi Systems
- Stock rose as much as 4.2 percent to Rs 103.60.
- About 10 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Edelweiss Financial Services
- Stock rose as much as 5.3 percent to Rs 87.40
- CCI has approved Kora Master Fund LP’s investment if up to 10 percent stake in the company’s arm Edelweiss Securities for $75 million.
- Stock rose as much as 5.8 percent to Rs 144.15.
- Fresh longs seen with high open interest of 20 percent.
Market Check: Sensex, Nifty Set To Extend Gains For Fifth Straight Day
Indian equity indices are set to extend gains for fifth straight trading session.
The S&P BSE Sensex rose 1 percent to 38,985 as of 2:55 p.m. and the NSE Nifty 50 rose 0.89 percent to 11,566. The broader markets represented by the NSE Nifty 500 Index advanced 0.92 percent.
Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 2.8 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.76 percent.