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.
KEY HIGHLIGHTS
Gross GST Revenue Collected In October At Rs 1,30,127 Crore
Nykaa IPO Subscription Live Updates: Day 3
Bandhan Bank Slips After Reporting Net Loss In Q2
SAIL Jumps On Q2 Beat; JPMorgan Upgrades Stock To 'Overweight'
Oberoi Realty Achieves Gross Bookings Worth Rs 787 Crore During Launch Of New Project In Mumbai
- Oldest First
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.
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."
NSE Nifty Bank Up Nearly 2%
NSE Nifty IT Index Up Nearly 2.5%; Mindtree Leads Advance
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%.