After a one-day hiatus, bulls were back on Dalal Street, tracking global gains, as another volatile trading week comes to a close. The S&P BSE Sensex jumped 1,534 points, or 2.91 per cent, to end at 54,326, while the Nifty50 shut shop at 16,266, up 457 points or 2.89 per cent.
Gains were across the board with all 30 Sensex constituents, and 48 of the 50 Nifty constituents closing the day in the green zone. Dr Reddy’s Labs, JSW Steel, Nestle India, Tata Motors, Tata Steel, Cipla, Adani Ports, L&T, RIL, Axis Bank, and SBI led from the front, rallying over 3.5 per cent each.
On the downside, only UPL and Shree Cement were in the red, down up to 0.8 per cent.
In the broader market, the BSE MidCap and Smallcap indices added 2 per cent each. Sectorally, the Nifty Metal index advanced over 4 per cent as China announced to pump a whopping $5.3 trillion into its economy this year as Covid outbreaks and lockdowns crush activity.
Besides, all other indices added upwards of 2 per cent each.
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Subdued global sentiment weighed on domestic equity markets on Friday as investors booked profits across the board, barring information technology (IT) sector. However, last hour buying in select pharma and bank stocks helped indices to settle the day in the green.
The benchmark S&P BSE Sensex settled the day at 46,961 levels, up 70 points or 0.15 per cent. The index hit a record high of 47,026 in the opening deals but erased gains on sell-off in large private banks, metals and realty stocks.
At close, Bajaj Finance, Infosys, State Bank of India (SBI), and Titan (up between 1.4 per cent and 2.4 per cent) were the top gainers while IndusInd Bank, HDFC Bank, ONGC, and Maruti Suzuki ended the day as top laggards.
The Nifty50 index, on the other hand, ended at 13,760.5 levels, up 20 points or 0.14 per cent.
The broader markets ended in the red for the second straight day. The S&P BSE MidCap index closed at 63 points, or 0.35 per cent, lower at 17,801 level. The S&P BSE SmallCap index, too, dipped 42 points, or 0.2 per cent, at 17,769 levels.
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Supported by buying in FMCG, pharma, and auto counters, the domestic equity market ended in the positive territory on Friday, ahead of the release of GDP data for January-March quarter of 2019-20 (Q4FY20).
The benchmark S&P BSE Sensex recovered a good 600 points from day’s low to settle at 32,424.10, up 223.15 points or 0.7 per cent. ONGC (up 5.5 per cent) was the top gainer on the index while IT major Infosys (down 2 per cent) ended as the biggest loser.
NSE’s Nifty settled at 9,580, up 90 points or 1 per cent, with 36 of 50 constituents advancing and 14 declining.
On a weekly basis, Sensex gained 5.7 per cent and the Nifty added 6 per cent.
The broader market, too, participated in the rally. The Nifty Midcap 100 index gained over 1 per cent to 13,273 and the Nifty SmallCap 100 index rose nearly a per cent to 4,002.80.
Among individual stocks, Vodafone Idea rallied 35 per cent to Rs 7.85 in the intra-day deals on the BSE, after reports said that the global technology giant Google is in talks to buy a 5 per cent stake in the company, owned by Vodafone Plc of the UK and Aditya Birla Group. The stock, however, pared gains and ended around 13 per cent higher at Rs 6.56 after the company clarified on the report, saying there is no proposal as reported by the media that is being considered at the Board.
IT services firm Wipro surged 6.65 per cent to Rs 212.55 after the company named Thierry Delaporte as the new chief executive officer (CEO) and managing director (MD) of the company, replacing Abidali Neemuchwala. Delaporte was most recently the chief operating officer of French consulting and technology firm Capgemini Group.
Shares of pharmaceutical companies were in focus with Nifty Pharma index gaining over 3 per cent on the expectation of strong demand scenario from both the domestic and export market.
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Source: https://stockarchitect.com/sector/Defence
Benchmark indices were trading higher in Friday’s afternoon trade, lifted by bank and automobile stocks.
The S&P BSE Sensex was trading around 36,890 levels, up 250 points, or 0.68 per cent. Tech Mahindra, Axis Bank, Kotak Mahindra Bank, NTPC, and Reliance Industries were the top gainers in the Sensex pack. The broader Nifty50 index was hovering near 10,920 level, up 73 points, or 0.67 per cent.
Nifty sectoral indices were trading largely in the green. While Nifty Private Bank index was up 1.2 per cent, Nifty Pharma index was down 0.5 per cent..
In the broader market, the S&P BSE MidCap index climbed 50 points, or 0.37 per cent, at 13,330 levels, while the S&P BSE SmallCap index zoomed 55 points, or 0.44 per cent, higher to 12,550 levels.
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Benchmark indices ended higher, amid choppy trades, after weak US data dimmed prospects of an interest rate increase by the Federal Reserve next week.
Besides, India’s trade deficit declined sharply to 38.1% to $7.67 billion in August 2016 from $12.39 billion in August 2015. Exports fell 0.3% to $21.52 billion in August 2016 over August 2015. Imports fell 14.09% to $29.19 billion in August 2016 over August 2015.
The S&P BSE Sensex rose 186 points to end at 28,599 and the Nifty50 gained 37 points at 8,780. In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%.
Among key stocks, Power Grid, ITC, Maruti Suzuki, Reliance Industries and Adani Ports surged between 1.5%-2.5%.
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Banks led the major support with the PSU Bank index surging 6.5 percent. State Bank of India and Bank of India rallied 8-9 percent due to stable asset quality in Q1.
Shares of public sector undertaking (PSU) banks have rallied by up to 11% in intra-day trade after the State Bank of India (SBI) and Bank of India (BOI) reported June quarter results in line with the analyst forecast.
SBI and BOI rallied more than 8% each, while Indian Bank, Punjab National Bank, Union Bank of India, Dena Bank, Canara Bank, Oriental Bank of Commerce, Vijaya Bank, Allahabad Bank, Bank of Baroda and Syndicate Bank were up between 3%-6% on the National Stock Exchange (NSE).
The market has ended on a strong note with support from index heavyweights. The Sensex ended up 292.80 points or 1 percent at 28152.40, and the Nifty was up 80 points or 0.9 percent at 8672.15. About 1246 shares have advanced, 1413 shares declined, and 181 shares are unchanged.
SBI was up 7 percent, Axis Bank, Tata Motors, M&M and HDFC were top gainers while Cipla, Infosys, Sun Pharma, Asian Paints and Lupin were losers.
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