Infosys Helps Sensex, Nifty Rebound Ahead Of Q2 Earnings
A trader monitors financial data at a broking firm. (Photographer: Chris Ratcliffe/Bloomberg)

Infosys Helps Sensex, Nifty Rebound Ahead Of Q2 Earnings

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Closing Bell: Sensex, Nifty End Higher Led By Infosys Ahead Of Q2 Results

Indian equity indices ended higher, led by the gain in Bengaluru-based software developer Infosys ahead of its results announcement.

The S&P BSE Sensex rose 0.65 percent to end at 38,127 and the NSE Nifty 50 rose 0.63 percent to 11,305.05 to close at 11,305.05. The broader market represented by the NSE Nifty 500 Index rose 0.53 percent.

The market breadth was tilted in favour of sellers. About 902 stocks declined and 864 shares advanced on National Stock Exchange.

Nine out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Metal Index’s 2.27 percent gain. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 0.34 percent.

Infosys Helps Sensex, Nifty Rebound Ahead Of Q2 Earnings

Fab Four Stocks Of The Day

Indiabulls Ventures

  • Stock rose as much as 9.3 percent to Rs 109.
  • Board Approved Buyback of 6.7 crore shares worth Rs 1,000 crore.
  • Buyback size represents 12.6 percent of the total paid up capital.

Biocon

  • Stock rose as much as 4.3 percent to Rs 250.40.
  • Unit entered into strategic licensing agreement with Evotec Group for an early-stage, pre-clinical bio similar asset.

Aban Offshore

  • Stock rose as much as 5 percent to Rs 26.30.
  • Received award for deployment of rig from Oil & Natural Gas Corporation for a period of three years.
  • Deployment is expected to commence in the second quarter of calendar year 2020.

Tata Global Beverages

  • Stock rose as much as 2.7 percent to Rs 273.90.
  • Fresh longs seen with high open interest of 13 percent.

Large Trade Alert: ITC

About 20 lakh shares of ITC changed hands after a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Market Check: Sensex, Nifty Set For A Volatile Close

Indian equity indices are headed for a volatile close.

The S&P BSE Sensex rose 0.34 percent to 38,017 as of 3 p.m. and the NSE Nifty 50 rose 0.42 percent to 11,286. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.

Bombay Burmah Surges The Most In Nearly Three Weeks

Shares of Bombay Burmah rose as much as 6.4 percent, the most since Sept. 23, to 1,137.

The stock declined 14.7 percent so far this year and fell 10.9 percent in the past 12 months. Of the shares traded, 51 percent were at the ask price and 35 percent were at the bid.

DHFL Falls For Fifth Day, Shares Hit 10% Lower Circuit

Shares of Dewan Housing Finance Corporation extended declines for the fifth consecutive trading session. The stock hit a lower circuit of 10 percent at Rs 21.15.

Of the shares traded, 72 percent were at the ask price and 21 percent were at the bid, according to Bloomberg data. The Relative Strength Index was below 30, indicating that the stock may be oversold. The scrip has declined 93 percent in the past 12 months compared to a 12 percent gain in the Sensex.

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