IT stocks, HDFC Bank, RIL help Sensex settle 329 points higher


Rally in information technology (IT) stocks, HDFC Bank, and Reliance Industries (RIL) helped the benchmark index, S&P BSE Sensex, settle with 329 points or 0.94 per cent gains at 35,171 levels on Friday.

NSE’s Nifty rallied 94 points or 0.91 per cent to end at 10,383. Volatility index, India VIX, dropped over 4 per cent to 28.50 levels.

IT stocks advanced in the trade after Accenture posted a better than expected quarterly numbers. The S&P BSE Information Technology index jumped over 5 per cent to end at 15,125 levels. Among individual stocks, Infosys gained 7 per cent, TCS rose 5 per cent while Wipro ended over 3 per cent higher. READ MORE

On a weekly basis, Sensex gained 1.26 per cent while Nifty added 1.35 per cent.

The broader indices underperformed the benchmarks. The S&P BSE MidCap index ended 0.27 per cent higher at 13,258.44 levels while the S&P BSE SmallCap rose 0.19 per cent to 12,630 points.

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Indices extend gains, Sensex up 524 points as RIL surges over 6%


Extending their rally into the second straight day, the benchmark indices ended Friday’s session with around 1.5 per cent gains, led by Reliance Industries (RIL) as the company announced it has become net debt-free, much before its original schedule of March 31, 2021. The stock rallied 6.5 per cent to end at Rs 1,764. In the process, the company scaled the market capitalisation of Rs 11 trillion.

The S&P BSE Sensex today gained 524 points or 1.53 per cent to settle at 34,732. Of 30 stocks on the index, 18 ended in the green and rest 12 in the red. Besides RIL, ICICI Bank, HDFC Bank, Bajaj Finance, and Bharti Airtel were the major contributors to the index’s gains.

NSE’s Nifty50 ended at 10,244, up 153 points or 1.5 per cent with 33 constituents advancing, 16 declining and 1 remaining unchanged. Volatility index, India VIX, dipped over 5 per cent to 29.78 levels.

On a weekly basis, Sensex gained nearly 3 per cent while Nifty added 2.7 per cent.

Sectorally, all the indices except Nifty IT and Nifty Metal ended in the green. Nifty Realty index zoomed over 6 per cent to 29.78 levels. On the other hand, Nifty IT slipped 0.35 per cent to 14,500.

In the broader market, the S&P BSE MidCap index gained 1.37 per cent to 12,804 while the S&P BSE SmallCap index rallied around 1.4 per cent to 12,277.

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Sectoral Watch – Most Discussed Other Financial Services Stocks











 

Source: https://stockarchitect.com/sector/Other-Financial-Services


Sensex recovers 1,433 points from day’s low, ends 243 points higher


It was a topsy-turvy session for the domestic equity market on Friday. After tumbling over 3.5 per cent in the early deals, the benchmark indices made a sharp comeback to end 0.7 per cent higher.

The S&P BSE Sensex witnessed 1,508-point swing during the day before settling at 33,781 points, up 243 points or 0.72 per cent. Of 30 constituents, 17 advanced and 13 declined.

NSE’s Nifty ended at 9,973, up 71 points or 0.72 per cent.

On a weekly basis, Sensex slipped 1.47 per cent while Nifty shed 1.66 per cent.

Volatility index, India VIX, jumped nearly 4 per cent to 30.82 levels.

Among individual stocks, Mahindra & Mahindra (M&M) ended over 7 per cent higher at Rs 508.70 apiece on the BSE after the company reported a consolidated loss of Rs 3,255 crore for the March quarter of 2019-20 (Q4FY20), which it attributed to “impairment provision for certain long-term investments”.

Financial stocks bounced back 13 per cent from the day’s low on the BSE after the Supreme Court gave three days to Finance Ministry, Reserve Bank of India (RBI) to decide on moratorium period interest.

Reliance Industries (RIL) ended over 3 per cent higher at Rs 1,588.80. Its partly paid-up rights shares are set to debut on the bourses on Monday, June 15.

On the sectoral front, barring IT and media stocks, all the other sectoral indices on the NSE ended in the green. The Nifty IT index declined nearly 1.5 per cent to 14,403 levels after media reports said the US President Donald Trump is considering suspending a number of employment visas including the H-1B, most sought-after among Indian IT professionals, in view of the massive unemployment in America due to the coronavirus pandemic.

In the broader market, the Nifty SmallCap 100 index ended at 4,393.50, down 0.11 per cent and the Nifty Midcap 100 index rallied over a per cent to 14,339.35 points.

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Sectoral Watch – Most Discussed Other Electrical Equipment / Product Stocks











 

Source: https://stockarchitect.com/sector/Other-Elect010Equip010-OR–Prod010