Sensex, Nifty Snap Two-Day Losing Streak Led By Bajaj Twins
A bronze bull statue stands at the entrance of the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Snap Two-Day Losing Streak Led By Bajaj Twins

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India stocks advanced as overseas investment into local shares picked up pace amid a steady decline in new coronavirus cases.

The S&P BSE Sensex rose 0.7% to 52,300.47, while the NSE Nifty 50 Index climbed 0.6% to 15,737.75. The Bajaj twins -- Bajaj Finance Ltd. and Bajaj Finserv -- were the best performers on both indices. Of the 30 shares in the Sensex, 23 gained and 7 fell.

Sensex, Nifty Snap Two-Day Losing Streak Led By Bajaj Twins

The broader market outperformed their larger peers. The S&P BSE MidCap gained 1.26% and S&P BSE SmallCap advanced 1.73%. Eighteen of the 19 sector sub-indices compiled by BSE Ltd. increased, led by a gauge of real estate companies. The S&P BSE Auto Index was the lone drag, falling 0.1%.

The market breadth was firmly skewed in favour of the bulls. About 2,454 stocks gained, 729 declined and 150 remained unchanged, according to the BSE data.

Global investors have bought shares worth $1.1 billion this month through Tuesday, compared with nearly $749 million for all of last month, data compiled by Bloomberg show. Equities have received inflows of over $7.7 billion this year.

Indiabulls Housing Jumps 11% To Highest In 15 Months

Indiabulls Housing Finance Ltd. rose 11%. Trading in the company's call options was quadruple the average. Trading volume was quadruple the average for this time of day.

  • The stock was the best performer among its peers.
  • Trading volume was 83.4 million shares, quadruple the 20-day average of 23.4 million shares for this time of day.
  • Trading in the company's call options totalled 52,220 contracts, compared with the average of 13,833 over the past 20 days. Trading in the company's put options totalled 13,508 contracts, compared with the average of 3,981 over the same period.
  • The relative strength index on the stock was above 70, indicating it may be overbought.
  • Analysts have two buy, no hold, and one sell recommendations on the stock.
  • The price target of Rs 185 represents a 36% decrease from the last price

Nifty Media Jumps The Most In Almost A Year

A gauge of media companies climbed as much as 5.3%, the most since August 2020.

  • Network 18 contributed the most to the index gain and had the largest move, increasing 20%.
  • The index is up 15.6% year to date compared to a 12.5% rise in the Nifty 50.
Sensex, Nifty Snap Two-Day Losing Streak Led By Bajaj Twins

Century Ply Q4 Net Income Beats Estimates

Century Ply reported net income for the fourth quarter that beat the average analyst estimate.

  • Net income Rs 83.23 crore vs. Rs 38.79 crore YoY, estimate Rs 77.40 crore
  • Revenue Rs 739 crore, +41% YoY, estimate Rs 693 crore
  • Total costs Rs 631 Rs, +32% YoY

Bajaj Finance Up Most In Six Weeks

Bajaj Finance Ltd. rose 7.2%. Trading in the company's call options was triple the average. Trading volume was double the average for this time of day.

  • The stock was the best performer among its peers.
  • Trading volume was 3.66 million shares, double the 20-day average of 1.63 million shares for this time of day.
  • Trading in the company's call options totalled 147,990 contracts, compared with the average of 50,580 over the past 20 days. Trading in the company's put options totalled 57,382 contracts, compared with the average of 23,481 over the same period.
  • Analysts have 16 buy, six hold, and seven sell recommendations on the stock.
  • The price target of Rs 5,361.04 represents a 12% decrease from the last price
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