Maruti, HDFC help Sensex settle 127 points higher; Nifty tops 11,900
A healthy buying in auto, technology, and select bank stocks helped benchmark indices settle in the green on Friday.
The S&P BSE Sensex settled 127 points, or 0.31 per cent higher at 40,686 levels while NSE’s Nifty ended at 11,930, up 34 points, or 0.28 per cent. The volatility index, India Vix, slipped over 3.5 per cent to 21.82 levels.
On a weekly basis, Sensex gained 1.75 per cent while Nifty added 1.42 per cent.
Auto major Maruti (up over 4 per cent) ended as the biggest gainer on Sensex while UltraTech Cement (down over 2 per cent) was the top loser.
The broader market continued to outperform frontline indices. The S&P BSE MidCap index gained 0.59 per cent while the S&P BSE SmallCap index rallied 0.7 per cent to 15,135 levels.
Among sectoral indices, Nifty Auto gained nearly 3 per cent to 8,095 levels.
YES Bank hit the upper circuit of 5 per cent at Rs 13.35 on the BSE ahead of the September quarter results on Friday. The board of directors of the bank is scheduled to meet on October 23, 2020 to consider and approve unaudited financial results of the bank for the second quarter ended September 2020 (Q2FY21).
Shares of tyre companies were on a roll for the second straight day with JK Tyre ralling 27 per cent in past two trading days, after the company reported a strong operational performance with margins hitting a four year high of 15.6 per cent in July-September quarter (Q2FY21). At 01:29 pm, JK Tyre & Industries was trading 10 per cent higher at Rs 76.70 on the BSE. Volumes jumped over five-fold. A combined 9.5 million equity shares have already changed hands on the counter on the NSE and BSE.
Shares of Indo Count Industries were locked in upper circuit for the fourth straight day, up 5 per cent at Rs 163.50 on the BSE on Friday, after the company reported a strong set of July-September quarter (Q2FY21) numbers. The textiles company’s stock was trading at its 52-week high level and has rallied 48 per cent in the past two weeks.
Shares of Tata Elxsi hit a fresh record high as the stock surged 42% in one month. On October 14, 2020, Tata Elxsi had reported a strong 58.4 per cent year on year (YoY) growth in net profit at Rs 79 crore in the July-September quarter (Q2FY21). The company’s operational revenues grew 11.5 per cent YoY at Rs 430 crore. The company’s growth was driven by both its key businesses – Embedded Product Design (EPD) and Industrial Design & Visualisation (IDV).
Shares of Jet Airways hit the upper circuit for 12th straight day and have zoomed 108% in 20 days. The stock has surpassed its previous 52-week high of Rs 50.25, touched on January 15, 2020. It has hit the upper circuit for the 12th straight trading day at the bourses. In the past 20 trading days, the stock has rallied 108 per cent from the level of Rs 24.60, on September 24, 2020.
Shares of Crompton Greaves Consumer Electricals surged 15 per cent to Rs 328 on the BSE on Friday after the company reported 27.7 per cent year on year (YoY) growth in net profit at Rs 142 crore for the quarter ended September 2020 (Q2FY21). The household appliances company’s stock was trading at its 52-week high level.
Shares of Cochin Shipyard (CSL) leapt 5 per cent to Rs 378 on the National Stock Exchange (NSE) on Friday after investor Radhakishan Damani acquired 0.53 per cent stake in the shipping company through the open market. The stock has now surged 16 per cent in two trading days. On October 22, 2020, Radhakishan Damani acquired 694,646 equity shares, representing 0.53 per cent stake, in Cochin Shipyard at Rs 349.14 per share on the NSE, the bulk deal data shows.
Here are some picks from the week gone by.
