Sensex leaps 1,181 points, Nifty holds 18350 amid global rally; HDFC duo up 6%

Indian equities rose in tandem with global peers after the release of US inflation data in October raised investor hopes that inflation has peaked. Barring minor downtick in the Nifty Auto, FMCG, and PSU Bank indices, all other sectoral indices advanced on the bourses. The Nifty IT index led from the front with around 4 per cent surge.

Meanwhile, HDFC twins, information technology (IT), and other heavyweighs including Reliance Industries, Tata Steel, L&T, and Bajaj twins propelled the S&P BSE Sensex to a fresh 52-week high of 61,841, while the Nifty50 touched 18,362.

The indices, eventually, ended at 61,795, and 18,350 levels, up 1,181 points and 322 points, respectively.

In the broader markets, the BSE MidCap, and the BSE SmallCap indices added 0.15 per cent, and 0.33 per cent, respectively, as against the frontline indices’ 2-per cent gain.

Shares of DCX Systems (DCX) made a strong market debut, with its equity shares listed at Rs 287, a 39 per cent premium to its issue price of Rs 207 per share on the NSE. The shares hit a high of Rs 320 during the day, and closed at Rs 307 per share, up 48.3 per cent over its issue price.

Shares of Zomato soared 13.8 per cent to Rs 72.80 amid heavy volumes, after the food delivery aggregator’s net loss narrowed to Rs 251 crore for the September quarter (Q2FY23), as against Rs 429.6 crore, in the year-ago period.

Shares of Lumax Industries ended almost 20-per cent upper circuit higher at Rs 1,794.50 on the BSE on Friday after the company’s consolidated net profit more-than-doubled to Rs 32.97 crore in the September quarter (Q2FY23) on healthy operational income.

Eicher Motors dipped 5% on profit booking post firm September quarter results. The stock fell 6 per cent from its intra-day high of Rs 3,740.75 today. While in the past six months, the stock has appreciated by nearly 50 per cent as compared to a 14 per cent rise in the S&P BSE Sensex. In the last one year, it has surged 31 per cent as against a 3 per cent gain in the benchmark index. The stock had hit a record high of Rs 3,886 on November 1, 2022.

Here are some picks from the week gone by.