Sensex ends choppy session 136 points lower; Nifty ends at 11,642
The domestic benchmark indices ended Friday’s volatile session in the negative territory amid weak global cues.
Among headline indices, the S&P BSE Sensex ended 136 points or 0.34 percent lower at 39,614 levels and the broader Nifty50 index ended at 11,642, down 28 points, or 0.24 percent. Bharti Airtel (down 4 percent), Maruti (down over 2 percent), and HUL (down 2 percent) were the top Sensex drags. On the other hand, Tata Steel (up over 2 percent), and NTPC (up 2 percent) were the biggest gainers on the index.
Volatility index, India VIX, rose 3 percent to 24.7 levels.
Shares of Cholamandalam Investment rallied 15% in two days on strong Q2 results. The company’s profit after tax (PAT) increased 41 percent at Rs 432 crore on improvement in net income margin and lower operational expenses. It had posted a profit of Rs 307 crore in the corresponding quarter of the previous fiscal.
Shares of Adani Green Energy (AGEL) hit a fresh record high and were locked in the 5 percent upper circuit band for the fourth straight day, at Rs 856.25, on the BSE on Friday in an otherwise weak market. In comparison, the S&P BSE Sensex was down 0.86 percent at 39,416 points at 01:16 pm. In the past week, the stock of the Adani Group renewable power company has rallied 19 percent, as compared to 3 percent decline in the benchmark index.
Shares of Blue Dart Express soared 16 percent to Rs 3,766, also its 52-week high on the BSE, in intra-day trade on Friday after the company reported a nearly three-fold jump in profit after tax (PAT) at Rs 41.4 crore in the September quarter (Q2FY21). South Asia’s premier air and integrated transportation and distribution company had a profit of Rs 14 crore in the year-ago quarter.
Shares of Hindustan Petroleum Corporation (HPCL) gained 5 percent to Rs 189.50 on the BSE on Friday after the state-owned oil marketing company said it will consider a proposal to buy back shares at its next board meeting on Wednesday, November 4, 2020. Earlier, October 22, 2020, HPCL had informed that the board of directors of the company is scheduled to meet on Wednesday, November 04, 2020, for consideration and approval of the financial results of the company for the second quarter & half year ended September 30, 2020.
Shares of Angel Broking rallied 17 percent to Rs 379 on the National Stock Exchange (NSE) on Friday, thereby surging 20 percent in the past two trading days after Kuwait Investment Authority acquired more than 400,000 equity shares of retail broking firm via open market transactions on Thursday. On October 29, 2020, Kuwait Investment Authority FD F238 bought 430,000 equity shares, representing 0.53 percent of its total paid-up equity, at Rs 321.73 per share on the NSE via bulk deal, the exchange data shows.
Laurus Labs hit a record high of Rs 345 after rising 4.5 percent on the BSE on Friday after the company reported a robust set of July-September quarter (Q2FY21) numbers. The pharmaceutical company’s stock surpassed its previous high of Rs 343.20, touched on October 8, 2020. At 09:26 am, Laurus Labs had erased its morning gain and was trading 1 percent higher at Rs 332 on the BSE, as compared to 0.26 percent rise in the S&P BSE Sensex.
Here are some picks from the week gone by.
