A security officer stands guard next to a bronze bull statue at the entrance to the Bombay Stock Exchange (BSE) in Mumbai. (Photographer: Adeel Halim/Bloomberg)

Sensex, Nifty Clock Best Single-Day Gains In 2019 Ahead Of Budget

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Closing Bell: Sensex Surges 665 Points, Nifty Ends Above 10,800

Indian equity benchmarks logged in best single-day gains of 2019 a day ahead of Union Budget after the Federal Reserve's dovish outlook boosted appetite for risk.

The S&P BSE Sensex rose 1.87 percent or 665 points to 36,257 and the NSE Nifty 50 Index climbed 1.68 percent or 179 points to 10,831.

Indian markets mirrored rally in other Asian and European markets after the Federal Reserve signaled it’s done raising interest rates for at least a while and will be flexible in reducing its bond holdings, a sweeping pivot from its bias toward tighter monetary policy just last month.

All the 19 sector gauges compiled by BSE ended higher led by the S&P BSE Information Technology and S&P BSE Energy indices’ over 2 percent gain.

Mid- and small-cap shares underperformed larger peers as the S&P BSE MidCap Index rose 0.4 percent and S&P BSE SmallCap Index climbed 0.8 percent.

Sensex, Nifty Clock Best Single-Day Gains In 2019 Ahead Of Budget

Emami Extends Decline After Profit Declines In December Quarter

Shares of the Kolkata-based grooming products maker extended decline and fell as much as 2.57 percent to Rs 405 after its profit declined in December quarter.

Key earnings highlights (Q3, YoY):

  • Revenue up 7.0 percent at Rs 810 crore
  • Net profit down 6 percent at Rs 137.75 crore
  • Ebitda down 1 percent at Rs 351.17 crore
  • Margin at 43.4 percent versus 46.8 percent

Dabur India Rises After Profit Meets Estimates In December Quarter

Shares of the Ghaziabad-based household products maker rose as much as 0.94 percent to Rs 435.20 after it met Bloomberg consensus estimates in December quarter.

Key earnings highlights (Q3, YoY):

  • Revenue up 11.83 percent at Rs 2,199.21 crore; Estimate of Rs 2,158 crore.
  • Net profit up 10.2 percent at Rs 366.05 crore; Estimate of Rs 365 crore.
  • Ebitda up 10 percent at Rs 445.40 crore.
  • Margin at 20.3 percent versus 20.5 percent.

Liquor Stocks Fall As Kerala Government Raises Tax On Alcohol

Shares of liquor companies fell after Kerala government raised tax on alcohol by 2 percent, The Times of India reported citing announcement made by Kerala Finance Minister Thomas Isaac while presenting the state Budget for financial year 2019-20.

Sensex, Nifty Clock Best Single-Day Gains In 2019 Ahead Of Budget

eClerx Falls After Profit Misses Estimates In Q3

Shares of the Mumbai-based software developer fell as much as 5.5 percent, the most in over two months, to Rs 985 after its profit missed Bloomberg consensus estimates in December quarter.

Key earnings highlights:

  • Revenue at Rs 358 crore versus estimate of Rs 368 crore
  • Net profit at Rs 38.96 crore versus estimate of Rs 67.8 crore