Sensex settles 86 points higher at 43,443 levels, gains 11% in Samvat 2076

All that happened in the markets today.

The domestic equity market ended Friday's session, the last trading day of Samvat 2076 on a positive note after oscillating between gains and losses during the day. The S&P BSE Sensex today gained 86 points, or 0.2 per cent to settle at 43,443 levels. With today's gain, the index rallied 10.68 per cent during Samvat 2076. 

NSE's Nifty ended Friday's session at 12,720, up 29 points, or 0.23 per cent. India VIX fell around 4.5 per cent to 19.7 levels. 

On a weekly basis, both Sensex and Nifty gained 3.7 per cent each. 

Meanwhile, market will open for one hour on Saturday, November 14 for the auspicious "Muhurat Trading session, which will start at 06:15 pm. However, it will remain closed on Monday, November 16 on account of Diwali-Balipratipada. 

In the broader market, the S&P BSE MidCap index rose 0.86 per cent to 15,876 levels while the S&P BSE SmallCap index advanced over 1 per cent to 15,639 points. 

Sectorally, all the indices but Nifty FMCG, and Nifty Media settled in the green. 

Global markets

Asian shares eked out gains on Friday and US stock futures turned higher after US president-elect Joe Biden was projected to win the battleground state of Arizona, cementing his win for the office. 

S&P 500 e-mini futures inched out of negative territory on the news but without much conviction, and were last up just 0.03 per cent.

European futures remained resolutely dour, with pan-region Euro Stoxx 50 futures down 0.67 per cent, German DAX futures down 0.6 per cent and FTSE futures off 1.1 per cent.

In commodities, gold prices held firm in a narrow range while oil prices fell, pressured by fears about a slow recovery in the global economy and fuel demand due to rising Covid-19 infections, but the market remained on track for a second straight weekly gain, helped by hopes for a vaccine.

(With inputs from Reuters)

3:43 PM

SECTOR WATCH | Nifty Metal gains 1.7%

3:42 PM

MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex gained 86 points, or 0.2 per cent higher at 43,443 levels while NSE's Nifty ended at 12,720 levels, up 29 points, or 0.23 per cent.

3:26 PM

MARKET CHECK

3:15 PM

Top gainers on the BSE at this hour

3:03 PM

Info Edge gains 9% in three days, hits record high post Q2 results

While announcing the September quarter results, the management said it is seeing gradual recovery of billings across all businesses. The quarter-on-quarter (QoQ) billings have grown by 32.3 per cent, it said.

 

However, in Q2FY21, the company’s billings dipped 17 per cent year-on-year (YoY) at Rs 249.5 crore. Operating EBITDA (earnings before interest, taxes, depreciation, and amortization) was down by 48.1 per cent at Rs 51.6 crore over the corresponding quarter in FY2019-20. READ MORE

2:56 PM

Sensex Heatmap at this hour

2:48 PM

Inox Leisure raises Rs 250 crore via QIP

Leading multiplex chain Inox Leisure on Friday raised Rs 250 crore from a qualified institutional placement (QIP) of shares.

 

The QIP issue, involving selling over 98 lakh shares at Rs 255 a share, which carry a face value of Rs 10, was oversubscribed 3.5 times by marquee global and domestic institutional investors, the company said in a statement. READ MORE
 

2:42 PM

RBI policymakers spar over high inflation forecasts, steep yield curve

A debate is raging among India’s monetary panel members on the credibility of the central bank’s inflation forecasts, raising questions over its price-growth targeting regime. The argument between Michael Patra, the deputy governor for monetary policy, and J.R. Varma, a new member of the rate-setting panel, centers around whether the nation’s steep yield curve reveals a lack of market confidence in the Reserve Bank of India’s inflation estimates or is a reflection of excessive focus on old data. READ MORE

2:33 PM

NEWS ALERT :: Moody's affirms Macrotech Developers’ (Lodha) USD bond rating

>> Outlook upgraded to stable from negative

2:30 PM

MARKET CHECK :: S&P BSE SmallCap index up 1%

2:23 PM

Business optimism for Oct-Dec rises 57% over Q3 2020: D&B survey

Business optimism has witnessed an increase in the ongoing quarter supported by various measures taken by the government and the RBI to boost consumption demand during the festive season, says a survey.

 

The fall in active cases of COVID-19 infected persons and the improvement in recovery rate also supported the business sentiment. READ MORE

2:14 PM

Stocks that hit 52-week high in an otherwise range-bound market today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI ENTERP.	368.45	371.50	0.81
ADANI GREEN	988.15	988.15	5.00
AMARA RAJA BATT.	821.35	846.00	-1.57
BALKRISHNA INDS	1587.20	1596.95	0.90
BLUE DART EXPRES	4080.00	4218.00	0.76

2:05 PM

BROKERAGE VIEW | ICICI Securities on Time Technoplast

RATING: HOLD | TARGET PRICE: Rs 43 

We believe improved demand in H2FY21 along with focus on increasing contribution of value added products would help better profitability, going forward. Further, marginal debt reduction via positive CFO would keep overall D/E below 0.5x. We maintain HOLD rating on the stock with a revised target price of Rs 43 (valuing at 3x EV/EBITDA FY22E).

2:03 PM

Expert View :: Anuj Gupta- DVP- Commodities and Currencies Research at Angel Broking on Gold

Gold prices increased by 0.86% and closed at 50,600 levels on Thursday, while silver price increased by 0.32% and closed at 62,739 levels as investors feared the economic impact of an accelerating rise in coronavirus infections.

US Federal Reserve Chair Jerome Powell said that progress in developing a coronavirus vaccine was welcome news but that near-term economic risks remain as infections accelerate, underscoring the likely need for additional government stimulus. Weakness in Dollar support the gold and silver.

 

Physical demand also increasing in India on the coming festival season. As for today traders can go for buy in gold at Rs 50,400 levels with the stop loss of Rs 50,200 levels for the target of 50,900 levels. They can also go for buy Silver at Rs 62,300 levels, with the stop loss of Rs 61,700 levels and for the target of 63,500-levels.