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Sensex, Nifty Snap 3-Day Losing Streak To Log Biggest Single Day Gain In 5 Weeks

Catch all live updates on share prices, index moves, corporate announcements and more from Indian stock markets today.

<div class="paragraphs"><p>A person looks up at a screen and an electronic ticker board outside the Bombay Stock Exchange  building. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
A person looks up at a screen and an electronic ticker board outside the Bombay Stock Exchange building. (Photographer: Dhiraj Singh/Bloomberg)
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Closing Bell

Indian equity benchmarks logged the biggest single day gain in five weeks and snapped the three-day losing streak, aided by gains in banking, information technology, metal, realty and telecom stocks.

The S&P BSE Sensex index rose 1.40% to 60,138.46. The NSE Nifty 50 Index advanced by similar magnitude to 17,929.65. Infosys Ltd. contributed the most to the index gain, increasing 1.9%. IndusInd Bank Ltd. had the largest increase, rising 7.8%. Today, 46 of 50 shares rose, while 4 fell.

Sensex, Nifty Snap 3-Day Losing Streak To Log Biggest Single Day Gain In 5 Weeks

The broader indexes outperformed their larger peers with the S&P BSE MidCap index adding 1.75% and the S&P BSE SmallCap index gaining over 1%. All the 19 sectoral indexes compiled by BSE Ltd. advanced, with the S&P BSE Realty, S&P BSE Metal and S&P BSE Telecom index rising over 3%.

The market breadth was skewed in favour of bulls. About 2,171 stocks advanced, 1,137 declined and 193 remained unchanged.

"Financial (especially PSU Banks) and Auto stocks were supportive today, while metals and IT counters witnessed selling pressure. An expectation of volume revival in coming months in the backdrop of festive demand and possibility of ease in semiconductor shortage aided automobile stocks to see sharp rebound", Binod Modi, Head Strategy at Reliance Securities wrote in a note and added that "markets witnessed high volatility in recent weeks as no positive surprise from earnings especially due to higher input costs have weighed on investors’ sentiments. Further, concerns over liquidity management by the RBI through V-RRR auctioning this week also weighed on sentiments."

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NSE Nifty Bank Up Nearly 2%

Sensex, Nifty Snap 3-Day Losing Streak To Log Biggest Single Day Gain In 5 Weeks

NSE Nifty IT Index Up Nearly 2.5%; Mindtree Leads Advance

Sensex, Nifty Snap 3-Day Losing Streak To Log Biggest Single Day Gain In 5 Weeks
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HDFC Climbs Over 3.6% After Q2 Net Income Beats Estimate

Shares of Housing Development Finance Corp Ltd. rose over 3.6% in intraday trade to Rs 2,947.9 apiece after the company reported net income for the second quarter above average analyst estimate

September Quarter Results

  • Net profit rose 32% YoY to Rs 3,780 crore vs estimate of Rs 3,704.5 crore (Bloomberg Consensus)

  • Dividend income at Rs 1,171 crore, more than 200% higher than Rs 323 crore YoY.

  • Interest income fell 2.3% YoY to Rs 10,579 crore.

  • Gross NPA at 2% vs 2.24% QoQ

Of the 39 analysts tracking the company, 36 maintained 'buy' and three maintained 'hold' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 4%.


Sensex, Nifty At Day's High

Sensex, Nifty Snap 3-Day Losing Streak To Log Biggest Single Day Gain In 5 Weeks
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