Stock Market Today: Gains across sectors pushed the markets higher.
Domestic stock markets jumped 1 per cent amid choppy trade on Thursday, tracking gains across global equities on optimism about a fast recovery from the coronavirus pandemic-caused slowdown. The S&P BSE Sensex index jumped 533.68 points, or 1.22 per cent, to 44,361.78 at the strongest level recorded during the session, and the broader NSE Nifty 50 benchmark climbed to as high as 13,018.00, up 159.6 points, or 1.24 per cent, from its previous close. Gains across sectors, led by banking, financial services, metal and pharmaceutical shares, pushed the markets higher. Some volatility occurred during the session as traders rushed to settle their positions ahead of the expiration of monthly derivatives contracts due by the end of the session, say analysts. Market participants also awaited official data on the country's gross domestic product (GDP) due on Friday for near-term triggers. (Key Stocks To Watch Today)
Here are highlights of Thursday's trading session:
JSW Steel, Tata Steel, Grasim, Bajaj Finance Top Nifty Gainers
JSW Steel, Tata Steel, Grasim and Bajaj Finance -- closing between 3.42 per cent and 7.02 per cent higher -- were the top percentage gainers in the Nifty basket of 50 shares.
JSW Steel: +7.02%
Tata Steel: +5.20%
Bajaj Finance: +3.42%
Shree Cement: +3.27%
Bajaj Auto: +3.07%
Tech Mahindra: -0.49%
HDFC Life: -0.65%
Bharat Petroleum: -0.67%
Maruti Suzuki: -0.73%
On the other hand, Eicher Motors, Maruti Suzuki and Bharat Petroleum -- down 0.67-1.57 per cent each -- were the worst hit among eight laggards in the index.
Market LIVE Updates: Metal, PSU Bank, Financial Services Lead Gains
Here's how the NSE's sectoral indices fared at close:
Nifty Metal: +3.85%
Nifty PSU Bank: +1.93%
Nifty Financial Services: +1.61%
Nifty Pharma: +1.43%
Nifty Bank: +1.21%
Nifty Private Bank: +0.97%
Nifty FMCG: +0.83%
Nifty Realty: +0.77%
Nifty IT: +0.71%
Nifty Media: +0.59%
Nifty Auto: +0.34%
Stock Market Updates: Sensex Ends 432 Points Higher, Nifty At 12,987
The Sensex ended 431.64 points, or 0.98 per cent, higher at 44,259.74 and the Nifty settled at 12,987.00, up 128.60 points, or 1.00 per cent, from its previous close.
Sensex, Nifty At Day's High Led By Banking Shares
The S&P BSE Sensex and NSE Nifty 50 indexes surged to intraday highs in last 30 minutes of trade led by gains in financial heavyweights such as HDFC, HDFC Bank, Axis Bank, Bajaj Finance, Kotak Mahindra Bank and ICICI Bank.
The Sensex rose 440 points to 44,268 and Nifty 50 index climbed 135 points to 12,994.
Nifty Bank index advanced 395 points to 29,951.
Economy To Escape Recession Early Next Year On Vaccine Hopes: Poll
India's economy is expected to recover early next year from recession, but at a modest pace, according to a majority of economists in a Reuters poll who said their upgraded growth predictions were based on the progress of COVID-19 vaccines.
The recent vaccine news has boosted Indian stocks to repeated record highs and fueled hopes of a pick-up in economic activity. That, coupled with festive-led demand, has lifted optimism amongst economists over the past month.
Nearly two-thirds of respondents, 26 of 40, to an additional question said their growth views - which have been raised from a month ago - were based on that vaccine progress.
Kamat Hotels Surges 15% On Heavy Volumes
Shares of Kamat Hotels rose as much as 15 per cent to hit an intraday high of Rs 37.25 on the back of heavy volumes.
As many as 92,000 shares changed hands on the BSE compared with an average of 6,272 shares traded daily in the past two weeks.
Bitcoin Falls By Over $1,000 In Asian Trade
Cryptocurrency Bitcoin tumbled more than 6 per cent ($1,000) in Asian trade on Thursday. It was last seen trading around $17,700, having lost more than $1,000 since its previous close. (Read More
Market Breadth Remains Positive On BSE
Overall market breadth turned positive, with 1,622 shares advancing on the BSE against 1,069 that were declining. In the Nifty basket of 50 shares, 34 stocks rose while 16 fell.
Top Nifty Gainers
- JSW Steel up 5%
- Tata Steel up 4.91%
- Grasim Industries up 3.50%
- Bajaj Finance up 2.63%
- Hindalco up 2.39%
Market LIVE Updates: Volatility Ahead Of Expiry Of Derivatives Contracts
Volatility prevailed as investors rushed to settle their positions in the current month's derivatives contracts (futures and options), ahead of expiration due by the end of the session.
US Futures Flat, Indicating Muted Start On Wall Street
The E-Mini S&P 500 futures -- an early indicator of the United States' S&P 500 benchmark index -- were flat, indicating a sluggish start on Wall Street on Thursday. On Wednesday, the S&P 500 index had pulled back from a record close.
Domestic Stocks Track Gains In Most Asian Markets
All Asian markets traded in the green, except Singapore's Straits Times, which was down 0.50 per cent. MSCI's broadest index of Asia Pacific shares outside Japan was up 0.82 per cent.
Sensex Forecast To Hit New Highs In 2021: Reuters Poll
The rally in domestic stock markets is set to continue, with the S&P BSE Sensex index hitting new record highs in 2021, according to a poll of equity strategists by news agency Reuters.
According to the poll, conducted between November 12 and 24, the Sensex is forecast to rise to 45,750 by mid-2021, and 47,550 by the end of 2021.
Market LIVE Updates: Overall Market Breadth Favours Gains
Overall market breadth favoured gains, with an advance-decline ratio of 3:2, as 1,592 shares traded higher on the BSE against 1,071 that moved lower. On the NSE, 1,134 stocks rose while 677 declined.
Market LIVE Updates: Bank Stocks Lead Rebound
The Nifty Bank index traded 0.51 per cent higher, having climbed up as much as 0.92 per cent earlier. Axis Bank and HDFC Bank, up 2.45 per cent and 1.94 per cent respectively, were the top contributors to the gain in the index.
Sustainable Move Below 12,730 To Extend Correction: Angel Broking's Sameet Chavan
"We are now stepping into the historical November month expiry day and hence, some volatile moves cannot be ruled out. In our sense, one should control its temptation to go long if the Nifty rebounds towards 12,950-13,050 levels. On the flipside, 12,800-12,730 are to be seen as key supports. Only a sustainable move below 12,730 would extend this correction," said Sameet Chavan, chief analyst-technical and derivatives, Angel Broking.
"Traders are advised to take a note that this is merely a profit booking and even if it extends, it should be considered as a healthy sign. For a time being, avoid aggressive bets and use meaningful declines to go long," he added.
European Markets Open On A Mixed Note
European stock markets started Thursday's session on a mixed note. Germany's DAX 30 index was last seen trading 0.18 per cent higher while France's CAC 40 gauge was up 0.22 per cent. The United Kingdom's FTSE100 benchmark index was down 0.14 per cent.
Grasim Industries, Axis Bank, Bajaj Finance Among Top Nifty Gainers
Grasim Industries, Axis Bank, Bajaj Finance, Tata Steel, HCL Technologies, HDFC, Bajaj Auto and Adani Ports were among the top Nifty gainers. On the other hand, Eicher Motors, Maruti Suzuki, Bharat Petroleum, Tech Mahindra, Britannia Industries and Asian Paints were among the losers.
Buying Visible Across Sectors, Barring Auto Shares
All sectoral indices but one on the National Stock Exchange (NSE) traded higher, led by a 1 per cent gain in the Nifty Financial Services index. The Nifty PSU Bank, Metal, Pharma and Bank indices traded 0.50-0.80 per cent higher each. On the other hand, the Nifty Auto index was down 0.50 per cent.
Laurus Labs Gains On Acquiring Richcore Lifesciences
Shares of Laurus Labs rose as much as 4.82 per cent to hit an intraday high of Rs 298.80 after the company informed exchanges that it has signed definitive agreements to acquire 72.55 per cent stake in Richcore Lifesciences Private Limited, a biotechnology company for Rs 246.67 crore.
Union Bank Rises Nearly 2% On Fund-Raising Plans
Union Bank of India shares gained nearly 2 per cent after the state-owned lender proposed to raise up to Rs 6,800 crore in the current financial year to fund its business growth.
At 11:10 am, Union Bank shares traded 1.7 per cent higher at Rs 27.50 on the BSE.
Huge Volatility Expected In Coming Days, Says Equity99's Rahul Sharma
"Global cues were mixed this morning before the opening bell... On the downside, the Nifty has got major support at 12,750-12,630. If the index breaches these levels, then a third support is placed at 12,321," said Rahul Sharma, head of research and market strategist, Equity99 Advisors.
"Overall the market is volatile due to profit-booking and rising uncertainty around COVID-19 across nation is the reason which will lead sentiments of the market on negative side. We expect huge volatility in coming days," he added.
Siemens Surges 10% After September Quarter Earnings
Shares of Heavy Electrical Equipment maker Siemens Ltd rose as much as 10 per cent to hit an intraday high of Rs 1,498.60 after it reported September quarter earnings.
The German technology major reported a marginal dip in profit to Rs 327.6 crore in September quarter compared profit of Rs 330 crore during the same quarter last year.
Its revenue from operation fell 9 per cent to Rs 3,422 crore.
Economy Has Exhibited Stronger-Than-Expected Rebound: RBI Governor
The country's economy has exhibited a stronger-than-expected rebound, Reserve Bank of India Governor Shaktikanta Das said. However, sustainability of demand after the festive season needs to be monitored, the RBI chief added. (Read Full Story
Snowman Logistics Shares Surge 19% In Two Sessions
Shares of Snowman Logistics surged as much as 19 per cent in two trading sessions to Rs 65.50. The stock has been witnessing buying interest on hopes that the company would gain business of transporting Covid-19 vaccines as an when it gets developed as the company's core business is providing cold storage logistics services, analysts said.
Sugar Stocks Sweeten In A Choppy Session Ahead Of Expiry
Shares of sugar manufacturing companies were trading higher in an otherwise choppy session ahead of November future and options expiry.
Top gainers among sugar shares:
- Balrampur Chini up 4.67%
- Shree Renuka up 2.64%
- Dalmia Sugar up 4.67%
- Dhampur Sugar up 3.76%
- Avadh Sugar up 12%
- Uttam Sugar up 10%
- KCP Sugar up 11%
Market Check: Metal, Pharma Shares Witness Buying; IT Stocks Face Mild Selling Ahead Of F&O Expiry
Ten of 19 sector gauges compiled by the BSE were trading higher led by S&P BSE Metal index's 0.5 per cent gain. Telecom, healthcare and basic materials shares were also witnessing a mild buying interest.
On the flipside, utilities, auto, information technology, power and oil & gas shares were witnessing selling pressure.
Mid- and small-cap shares trading on a flat note as S&P BSE MidCap and S&P BSE SmallCap indexes were trading 0.2 per cent higher.
The overall market breadth was positive as 1,407 shares were advancing while 1,036 were declining on the BSE.
Foreign Fund Inflow At Rs 24 Crore On November 25
Net inflows from foreign institutional investors (FIIs) in Indian capital markets stood at Rs 24.2 crore on Wednesday, provisional stock exchange data showed. However, domestic institutional investors (DIIs) pulled out Rs 1,840.33 crore from the markets on the same day.
Economy Seen Recovering Early Next Year: Reuters Poll
India's economy is expected to recover early next year from recession, but at a modest pace, according to a majority of economists in a poll by news agency Reuters. Official data on the country's GDP in the July-September period will be released on Friday.
Gains In L&T, M&M Limit Fall
Larsen & Toubro and Mahindra and Mahindra were among the top boosts to the Nifty 50, as investors continued to favour sectors expected to benefit from an economic recovery.
Market LIVE Updates: Infosys, TCS Top Drags On Nifty On Profit-Booking
Investors continued to book profits on some of the year's top pandemic bets such as IT services, while shifting money to companies set to benefit from an economic recovery next year. IT majors Infosys and Tata Consultancy Services were the top drags on the Nifty 50, putting the Nifty IT index on course for a second straight daily fall.
Markets Witnessing Profit-Taking: SMC Global Securities' Saurabh Jain
"We've had such a strong run-up...in these last two days... the market is just seeing profit-taking," said Saurabh Jain, assistant vice president of research at SMC Global Securities.
"But the overall trend and mood is positive. We haven't seen anything that can point to the trend weakening," he added.
Analysts Await Economic Data, RBI Meet Outcome For Cues
Analysts awaited macroeconomic data and the RBI's bi-monthly review for near-term cues. The government will release data on the country's gross domestic product (GDP) in the July-September quarter on Friday. Next week, the central bank will conduct a bi-monthly review of its monetary policy.
Nifty Bank Turns Flat At 29,200
The Nifty Bank index - which tracks stocks of 12 major lenders in the country - was last seen trading flat, having earlier risen as much as 0.68 per cent. At 10:57 am, the Nifty Bank was up 0.01 per cent at 29,200.05. While Axis Bank and Bank of Baroda traded up to 1 per cent higher, SBI and IndusInd Bank edged lower.
Market LIVE Updates: Mid-Cap, Small-Cap Stocks Edge Higher
Broader markets eked out gains amid choppy trade.
S&P BSE Midcap: +0.10%
S&P BSE Smallcap: +0.11%
Nifty Midcap 100: +0.05%
Nifty Smallcap 100: +0.22%
Nifty 500: -0.02%
Siemens Soars Nearly 9% Post September Quarter Results
Siemens shares soared 8.7 per cent to Rs 1,481 after the tech major, on Wednesday, reported 4.7 per cent decline in net profit to Rs 333 crore for September quarter, mainly on the back of higher expenses amid the lockdown.
US Dollar Continues To Weaken: IFA Global
"Positive risk sentiment on hope of smoother transfer of power to the Joe Biden administration and appointment of Janet Yellen as treasury secretary was dented a bit by a rise in US weekly jobless claims and a wider trade deficit in October. The October durable goods data however beat expectations," said Abhishek Goenka, founder and CEO of forex advisory firm IFA Global.
"The US dollar continues to weaken across the board. US yields are unchanged. Equities are trading weak and crude continues to inch higher," he added.
Rupee Edges Higher To 73.82 Against Dollar
The rupee edged higher to 73.82 against the US dollar in morning deals, from its previous close of 73.91. The rupee has rebounded 4.02 per cent from an all-time low of 76.91, registered in April this year.
Union Bank Of India Gains 1% On Fund-Raising Plans
Union Bank of India shares gained 1 per cent to Rs 27 after the state-owned lender proposed to raise up to Rs 6,800 crore in this fiscal to fund its business growth.
Laurus Labs Shares Rise 2% On Stake Purchase In Biotech Company
Laurus Labs shares rose 2.5 per cent to Rs 292 on the news that the pharma company bought a 72.55 per cent stake in biotech company, Richcore Lifesciences for Rs 246.67 crore from Eight Roads Ventures and VenturEast.
Sensex Falls Over 100 Points, Nifty Near 12,800 As Markets Give Up Initial Gains
At 10:03 am, the Sensex traded 139.18 points - or 0.32 per cent - lower at 43,688.92 while the Nifty was down 51.50 points - or 0.40 per cent - at 12,806.90.
Infosys, Reliance Industries, ICICI Bank and Maruti Suzuki were the biggest drags on Sensex.
BSE, NSE Suspend Trading In Lakshmi Vilas Bank
BSE, NSE have suspended trading in Lakshmi Vilas Bank after the government, on Wednesday, approved the merger of Lakshmi Vilas Bank with DBS Bank India and removed restrictions on withdrawal of deposits.
Bajaj Auto, Grasim Top Nifty Gainers
Top Nifty Gainers
Bajaj Auto: +1.86%
Divi's Laboratories: +0.94%
Shree Cement: +0.89%
HDFC Bank: +0.70%
Top Nifty Losers
Asian Paints: -0.52%
Bajaj Finance: -0.54%
Bharat Petroleum: -0.72%
Tech Mahindra: -0.78%
Maruti Suzuki: -0.85%
Eicher Motors: -1.01%
IndusInd Bank: -1.02%
Market LIVE Updates: Bajaj Auto, Grasim, M&M, Divi's Labs Top Nifty Gainers
Top gainers in the Nifty basket of 50 shares were Bajaj Auto, Grasim, Mahindra & Mahindra, Divi's Laboratories and Shree Cement, trading between 0.89 per cent and 1.86 per cent higher. On the other hand, IndusInd Bank, Eicher Motors, Maruti Suzuki, Infosys and Tech Mahindra - down 0.78-1.02 per cent each - were the worst hit among 19 laggards in the index.
Realty, Auto, Pharma Shares Rise; IT, PSU Banks Decline
Realty, pharmaceutical, automobile and fast-moving consumer goods shares supported the markets.
Here's how NSE sectors fared at the time:
Nifty Realty: +0.99%
Nifty Pharma: +0.70%
Nifty Auto: +0.43%
Nifty FMCG: +0.21%
Nifty Financial Services: +0.20%
Nifty Metal: +0.19%
Nifty Bank: +0.02%
Nifty Private Bank: +0.02%
Nifty PSU Bank: -0.29%
Nifty IT: -0.33%
Market LIVE: Sensex, Nifty Pare Early Gains Amid Losses In IT, Energy Shares
However, the markets gave up most of those gains in the first few minutes of trade. At 9:23 am, the Sensex traded 14.25 points - or 0.03 per cent - higher at 43,842.35 while the Nifty was up 8.10 points - or 0.06 per cent - at 12,866.50. selling pressure in IT, energy and select PSU Bank shares weighed on the markets.
Market LIVE: Sensex Gains Nearly 200 Points, Nifty Firm Above 12,900
The Sensex rose 195.16 points - or 0.45 per cent - to touch 44,023.26 at the strongest level recorded in early deals, and the Nifty climbed to as high as 12,916.75, up 58.35 points - or 0.45 per cent - from its previous close.
Market LIVE Updates: Sensex Opens Over 100 Points Higher, Nifty Above 12,900
The S&P BSE Sensex index opened 139.30 points - or 0.32 per cent - higher at 43,967.40 while the Nifty began the day at 12,906.45, up 48.05 points - or 0.37 per cent - from its previous close. Gains in banking, financial services and metal stocks supported the markets, however losses in oil & gas shares limited the upside in early deals.
Market LIVE Updates: Global Share Markets Rise On COVID-19 Vaccine Optimism
Equity markets elsewhere in Asia rose on Thursday as investors' optimism on COVID-19 vaccines and the prospects of more political predictability and economic stimulus under the incoming Joe Biden administration in the US overrode a slate of weak data in the world's largest economy.
MSCI's broadest index of Asia-Pacific shares outside Japan was last seen trading 0.30 per cent higher, while Japan's Nikkei 225 benchmark was up 0.60 per cent. The E-Mini S&P 500 futures were up 0.20 per cent, indicating a positive start for Wall Street on Thursday. MSCI's broadest gauge of the world's shares covering 49 markets added 0.10 per cent to bring its gains so far this month to 12.7 per cent, on course to make its biggest monthly gain on record.
Trading In Lakshmi Vilas Bank To Be Suspended From Today
Following the Union Cabinet's approval for the amalgamation of Lakshmi Vilas Bank (LVB) with the wholly-owned subsidiary of Singapore-based DBS Bank in India, the National Stock Exchange (NSE) said the bank's share trading will be suspended from November 26. (Read Full Story
SGX Nifty Futures Indicate Positive Opening For Markets
The Nifty futures trading on Singapore Exchange rose 133.3 points - or 1.04 per cent - to touch 12,990.00 at the strongest level recorded ahead of the opening of Indian markets. At 8:54 am, the SGX Nifty futures - an indicator of the National Stock Exchange's Nifty 50 benchmark index - were up 120.30 points - or 0.94 per cent - at 12,977.00.