Sensex, Nifty Extend Gains For Second Session Aided By HDFC, Bajaj Twins
Indian equity benchmarks shrugged off a volatile start and advanced for the second consecutive session, aided by gains in consumer durables, information technology, fmcg, power, realty and oil and gas stocks.
The S&P BSE Sensex index rose 0.80% to 60,545.61. The is the highest close for the 30-stock gauge nearly two weeks. The NSE Nifty 50 Index advanced by similar magnitude to 18,068.55. This the first time Nifty 50 closed above 18,000 since October 27. Housing Development Finance Corp. contributed the most to the index gain, increasing 2.8%. Titan Co. had the largest increase, rising 4.3%. Today, 39 of 50 shares rose, while 11 fell.
The broader indexes almost mirrored their larger peers with the S&P BSE MidCap index adding 1.2% and the S&P BSE SmallCap index gaining nearly 0.8%. Barring S&P BSE Healthcare index, all the other 18 sectoral indexes compiled by BSE Ltd. advanced, with the S&P BSE Consumer Durables and S&P BSE Oil & Gas rising nearly 2.5%
The market breadth was skewed in favour of the bulls. About 1,819 stocks advanced, 1,540 declined and 191 remained unchanged.
"A solid rebound in Financial Services (excluding Private Banks), IT and metal stocks supported market rally today. Notably, cement stocks were in focus today mainly led by sustainability of sharp price hikes taken by cement companies in recent period and visible contraction in key input costs", Binod Modi wrote in a note. The Head - Strategy at Reliance Securities added "government’s effort to calm down high commodity prices by cutting excise duties in petrol and diesel augurs well, which will also aid RBI to keep interest rate at current range to support ongoing recovery."
Britannia Reports Sequential Growth In Revenue In September Quarter
Britannia Q2 FY22 (Consolidated, QoQ)
Revenue up 6% at Rs 3607.37 crore Vs Rs 3403.46 crore
Net profit down 1% to Rs 384.22 crore from Rs 389.55 crore
EBITDA up 1% to Rs 558.33 crore Vs Rs 553.78 crore
Margins at 15.5% Vs 16.3%
Poonawalla Fincorp Has 3.96% Of Equity Traded In Three Bunch Trades
Poonawalla Fincorp has 30.3 million shares change hands in three bunch trades.
Details of buyers and sellers are not immediately known.
Wockhardt Jumps After Q2 Numbers
Shares of Wockhardt Ltd. rose 7.62% in intraday trade to Rs 474 apiece after the company reported sequential growth in sales and net profit in the September quarter
Second Quarter Results (QoQ)
Net profit at Rs 35 crore vs net loss of Rs 13 crore
Sales at Rs 862 crore vs Rs 860 crore
Ebitda at Rs 109 crore vs Rs 108 crore
Ebitda margins at 12.7% vs 12.5%
Trading volume on the stock was 4 times the 30-day average volume for this time of the day.
Sundaram Finance Slips After Reporting Q2 Numbers
Shares of Sundaram Finance Ltd. shed 1% to Rs 2,480.05 apiece after the company reported its September quarter numbers
Second Quarter Numbers
Net income at Rs 210.65 crore vs Rs 191.99 crore YoY
Revenue from operations Rs 1,021.82 crore vs Rs 992.96 crore YoY
Total costs at Rs 746.71 crore vs Rs 744.03 crore YoY
Other income at Rs 3.35 crore vs Rs 4.90 crore YoY
Of the seven analysts tracking the company, three maintained 'buy', two maintained 'hold' and two maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 3.9%
Rupee Gains Past 74 Against U.S. Dollar Amid Share Sale Inflows
Rupee gained past 74 to a dollar to its highest since September 28 amid inflows for share sales.
USD/INR drops to as much as 73.9863, last seen September 28.
Edelweiss Prediction For MSCI Rejig
Kotak Mahindra Bank To Offer Home Loans At 6.55% Per Annum
Exchanges Opt For Shorter Trade Settlement For Some Stocks
Phoenix Mills Up 7%; NSE Nifty Realty Climbs Nearly 1%
Motherson Sumi Approves Raising Up To Rs 1,000 Crore Via Bonds
Minda Heads For Longest Winning Streak In Over 6.5 Years; RSI Above 70
Blackstone, GIC help Byju's to boost loan target to $1.2 billion, reports Bloomberg
NSE Nifty IT Index Gains Over 1%; Mindtree Leads Advance
Analyst Actions: Eicher Motors, Indian Bank, VRL Logistics
Karur Vysya Gains As Asset Quality Improves In Q2
European Markets Start The New Week On A Positive Note
Mid-Day Market Update: Sensex, Nifty Recover; HDFC Leads Advance
Bonds Gain After Government Cuts Retail-Fuel Tax
Pfizer India Jumps The Most In Nearly A Year
Future Retail Petitions Apex Court On Amazon Arbitration
Whirlpool, Titan Lead The Gains In Consumer Durables Index
Asian Infrastructure Firms Rise After U.S Passes $550 Billion Bill
Broader Indices Outperform Their Larger Peers
Rupee Extends Gain To 0.5%
Paytm IPO Subscription Live Updates: Day 1
India Yield Curve Shifts Lower
L&T's Construction Arm Bags Significant Orders For India Business
Muthoot Finance Rises The Most In Five Months After Reporting Sequential Growth In Net Profit In Q2
Indian Bonds Gain After Government Reduces Tax On Retail Fuel
NSE Nifty Bank Index Down Nearly 1%
NSE Nifty Pharma Index Down Nearly 2%
Divi's Labs Slips After Q2 Miss As Analysts Reduce Target & Downgrade Recommendations
IndusInd Bank Denies Allegations Of 'Evergreening'; Stock Slips 10%
Eicher Motors Extends Post-Earnings Rally
Opening Bell: Sensex, Nifty Open Higher; L&T, Tech Mahindra Advance
Paytm IPO: All You Need To Know About One97 Communications
Inox Wind Bags 150 MW Wind Power Project Order From NTPC Renewable
India Orders 10 Million Doses Of Cadila's Covid Vaccine: PTI
Rupee Traders To Watch Flows From Paytm Share Sale
SGX Nifty Hints At Opening Gains; Eicher Motors, Sun TV, Divi's Lab, IndusInd Bank In Focus
- Paytm IPO Subscription Live Updates: Day 1
- Muthoot Finance Rises The Most In Five Months After Reporting Sequential Growth In Net Profit In Q2
- Divi's Labs Slips After Q2 Miss As Analysts Reduce Target & Downgrade Recommendations
- IndusInd Bank Denies Allegations Of 'Evergreening'; Stock Slips 10%
- Eicher Motors Extends Post-Earnings Rally