Gains in information technology and select financial stocks supported the upmove
The S&P BSE Sensex and NSE Nifty 50 indexes ended higher in trade on Thursday led by gains in ICICI Bank, HDFC Bank, Infosys, HDFC, Bajaj Finance and Tata Consultancy Services. For most part of the day, the benchmarks traded in a rangebound manner owing to weekly expiry of derivative contracts. However, late buying in banking shares helped benchmarks clock gains for today's session. The Sensex rose as much as 322 points from day's lowest level and Nifty 50 index moved closer 11,900.
Here are the highlights on the movement in domestic share markets (Sensex and Nifty) today:
Sensex Ends 170 Points Higher, Nifty Reclaims 11,850
The Sensex ended 170.42 points - or 0.42 per cent - higher at 40,286.48 and the Nifty settled at 11,870.45, up 30.00 points - or 0.25 per cent - from the previous close.
Twenty one stocks on the 50-scrip Nifty index finished the session higher. Top gainers on the index were ICICI Bank, Infosys and Bajaj Finance, ending 2.53 per cent, 1.98 per cent and 1.79 per cent higher respectively. On the other hand, Bharti Infratel (down 3.94 per cent), IndusInd Bank (down 2.91 per cent) and Zee Entertainment (2.72 per cent) were the top losers.
Grasim Shares Fall 3.5% After Q2 Earnings Announcement
Grasim Industries reported a net profit of Rs 1,001.67 crore for the quarter ended September 30, as against a net loss of Rs 1,468.47 crore in the corresponding period a year ago. Shares in Grasim fell as much as 3.52 per cent to Rs 713.05 apiece on the BSE after the earnings announcement.
Vedanta Consolidated Net Profit Rises 61% In September Quarter; Shares Fall 3%
The mining conglomerate controlled by Anil Agarwal - Vedanta - on Thursday reported net profit of Rs 2,158 crore in quarter ended on September 30. That marked an increase of 61 per cent from the same period last year.
Vedanta's revenue from operations declined 3 per cent to Rs 21,739 crore from rs 22,432 crore in the September quarter of 2018.
Vedanta shares fell as much as 3 per cent to Rs 143.75 on the BSE, underperforming the Sensex which was up 0.26 per cent.
Vodafone Idea, Bharti Airtel Fall After Government Asks Telecom Companies To Clear Dues In 3 Months
Shares of Vodafone Idea fell as much as 22 per cent and Bharti Airtel declined as much as 5 per cent after the Department of Telecommunications asked the telecom companies to pay their revenue share dues within three months as directed by the Supreme Court, according to an industry source.
The DoT has given option to telecom operators to clear all the dues on self-assessment basis.
The Supreme Court in its last month's ruling said, "We give three months'' time to deposit the amount, which is due and compliance be reported."
Wholesale Inflation Eases To 0.16% In October
Food inflation - based on the WPI Food Index comprising food articles from the primary articles group and food products from the manufactured products category - came in at 7.65 per cent last month, the data showed. It had stood at 5.98 per cent in the previous month.
Top Nifty Gainers Vs Losers
|Bharti Infratel||-6.74%|Infosys, Yes Bank, ICICI Bank Top Nifty Gainers; Bharti Infratel, Bharti Airtel Top Losers
Top percentage gainers on the 50-scrip benchmark index at the time were Infosys, Yes Bank, ICICI Bank, Bajaj Finance and Maruti Suzuki. On the other hand, Bharti Infratel, Bharti Airtel, IndusInd Bank, Tata Motors and Zee Entertainment were the top losers.
Sensex Up Over 100 Points, Nifty Holds 11,850
At 11:57 am, the S&P BSE Sensex index traded 101.03 points - or 0.25 per cent - higher at 40,217.09 while the broader NSE Nifty benchmark was up 14.00 points - or 0.12 per cent - at 11,854.45.
Infosys, HDFC Bank and ICICI Bank were the top contributors to the upmove in Sensex.
Sensex, Nifty Push Higher As Banking Stocks Recover Early Losses
The Nifty Bank index - comprising shares of 12 major lenders in the country - rose as much as 0.75 per cent in late morning deals, a day after declining nearly 2 per cent.
Prominent gainers on the index included Yes Bank, ICICI Bank and HDFC Bank, which rose 3.81 per cent, 1.60 per cent and 0.98 per cent respectively.
Sensex, Nifty Give Up Most Of Early Gains
At 9:21 am, the Sensex was up 7.26 points (0.02 per cent) at 40,123.32 while the Nifty was at 11,846.75, up 6.30 points - or 0.05 per cent - from the previous close.
Top percentage gainers on the 50-scrip index at the time were Infosys, Zee Entertainment, Eicher Motors, Yes Bank and Asian Paints, trading between 1.01 per cent and 1.74 per cent higher. On the other hand, Bharti Infratel, Bharti Airtel, IndusInd Bank, Hindustan Unilever and UltraTech Cement - trading between 1.31 per cent and 5.87 per cent lower - were the top laggards.
Sensex Rises Over 80 Points To Touch 40,200, Nifty Edges Past 11,850
Domestic stock markets registered mild gains in the first few minutes of trade. The Sensex rose as much as 84.24 points to touch 40,200.30 on the upside. The Nifty climbed to as high as 11,862.30, up 21.85 points from the previous close.
Sensex Ipens 63 Points Higher, Nifty Starts Day At 11,859
The S&P BSE Sensex index opened 62.87 points higher at 40,178.93 whereas the broader NSE Nifty benchmark started the session at 11,858.75, up 18.3 points from the previous close.
On Wednesday, the S&P BSE Sensex index had closed 229.02 points - or 0.57 per cent - lower at 40,116.06 and the broader NSE Nifty benchmark settled down 73.00 points (0.61 per cent) at 11,840.45.
Sensex Rises Over 90 Points In Pre-Open Market
The S&P BSE Sensex index rose as much as 92.4 points to touch 40,208.46 on the upside in the pre-opening session. At 9:07 am, the Sensex was up 63.18 points - or 0.16 per cent - at 40,179.24, while the broader NSE Nifty benchmark was at 11,868.50, up 28.05 points - or 0.24 per cent - from the previous close.
Consumer Inflation Hits 16-Month High, Breaches RBI’s Medium-Term Goal
Consumer inflation accelerated to 4.62 per cent in October breaching the Reserve Bank of India (RBI)'s medium-term target of 4 per cent for the first time in 15 months and hitting the highest level recorded since June 2018, official data showed on Wednesday.
The central bank tracks consumer inflation data primarily to formulate monetary policy.
Asian Markets Move Lower
Equities in other Asian markets moved lower, with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading 0.55 per cent lower, and Japan's Nikkei 225 down 0.24 per cent.
SGX Nifty Indicates Positive Start For Domestic Markets
The S&P BSE Sensex and the broader NSE Nifty are likely to open on a positive note, a day after a selloff in banking stocks dragged the benchmarks more than half a per
cent. At 8:38 am, the Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - were up 13.00 points (0.11 per cent) at 11,878.00, after touching 11,894.50.