Sensex rises 203 points, Nifty ends near 17,800; Maruti zooms 5%, RIL 3%

After a promising start to the trading day, the key benchmark indices slipped into red for a brief moment, and then pulled back towards the close. Broader markets, however, succumbed to selling pressure on Friday.

The S&P BSE Sensex surged to a high of 60,133 in early deals, but then dipped into red to a low of 59,739. The 30-share index eventually ended 203 points higher at 59,960. In the process, the BSE benchmark ended the festive week with a gain of 1.1 per cent (650 points).

The NSE Nifty settled 50 points higher at 17,787. In the broader markets, BSE Midcap and Smallcap indices slipped around 0.5 per cent each.

Among individual stocks, Reliance up 3 per cent was primarily responsible for the day’s gain. The stock alone contributed 231 points to the BSE benchmark.

Maruti zoomed 5 per cent to Rs 9,495, after the company reported 4-fold jump in net profit, beating Street estimates.

NTPC, Mahindra & Mahindra, PowerGrid Corporation, Titan and Bajaj Finserv were the other notable gainers. On the other hand, Tech Mahindra and Tata Steel shed 2.5 per cent each. Sun Pharma, ICICI Bank, SBI and Axis Bank were the other prominent losers, down 1 – 2 per cent each.

Sectorally, the BSE Auto index rallied nearly 2 per cent. The Energy and Oil & Gas indices were the other significant gainers. The Metal index shed 1.4 per cent, and the IT index slipped 0.7 per cent.

Among other individual stocks, Nykaa crashed out of the top-100 most valued firms in India, after the stock tanked to a record low of Rs 975.50 (down 7 per cent) in trades today. The companies market cap fell to Rs 46,292 crore.

Among other individual stocks, SBI Cards cracked over 5 per cent in trades on profit-booking after the company reported 52 per cent YoY jump in net profit to Rs 526 crore in Q2FY23.

Dhanuka Agritech surged over 6% as the board is set to mull Buyback on November 1.  A meeting of the Board of Directors is scheduled to be held on Tuesday, November 1, 2022, inter-alia, to consider and approve unaudited Standalone and Consolidated Financial Results of the Company for Q2FY23 and H2FY23. The Board of Directors shall also consider the proposal for buyback of fully paid-up equity shares of the Company through Tender Offer route.

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