MARKET WRAP: Indices rise for 6th day; Sensex up 304 pts, reclaims 40K

All that happened in the markets today

The benchmark indices settled higher for the sixth straight day on Thursday, led by buying in information technology (IT) counters and HDFC Bank. 

IT stocks rallied in trade after Tata Consultancy Services (TCS) reported a strong set of numbers for the quarter ended September 2020 (Q2FY21). The TCS board has also approved a buyback of Rs 16,000 crore to buy 53.3 million shares at Rs 3,000 per share. READ MORE

Among headline indices, the S&P BSE Sensex ended 304 points, or 0.76 per cent higher at 40,183 levels while NSE's Nifty added 96 points, or 0.82 per cent to settle at 11,835 levels. 

Among sectoral indices, barring Nifty Media and Nifty FMCG, all other indices ended in the green. The Nifty IT index rallied over 3 per cent to 21,697 levels while Nifty Pharma jumped 2.47 per cent.

In the broader market, the S&P BSE MidCap index gained 0.29 per cent to 14,827 and the S&P BSE SmallCap settled 0.26 per cent lower at 15,010 levels. 

Global markets 

A gauge of Asian shares climbed to a one-month high on Thursday on renewed hopes for more US stimulus, while investors decided a key US political debate ahead of November elections had not altered the odds much.

In Europe, too, stocks inched higher, joining a global rally.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent for its fourth straight session of gains to a level not seen since early September.

In commodities, oil rose above $42 a barrel, supported by output shutdowns in the US Gulf of Mexico and the prospect of more supply losses in Norway, as well as by hopes for some US coronavirus relief aid.

(With inputs from Reuters)

3:43 PM

SECTOR WATCH | Nifty IT rallies over 3%

3:42 PM

MARKET AT CLOSE | Gainers and losers on the BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex gained 304 points, or 0.76 per cent to settle at 40,183 levels while NSE's Nifty ended at 11,835, up 96 points, or 0.82 per cent.

3:28 PM

MARKET CHECK

3:26 PM

Cipla up 5% on hope of healthy Q2 performance; rallies 56% in six months

In the past three months, Cipla has outperformed the market by surging 26 per cent, as against 10.5 per cent rise in the S&P BSE Sensex. In six months, however, the gains have been even better with Cipla rising 56 per cent as compared to 34 per cent rally in the benchmark index, the S&P BSE Sensex. READ MORE 

3:21 PM

Sun Pharma gains over 2%

3:15 PM

BROKERAGE VIEW | Emkay Global on Titan Co

RATING: BUY | TARGET PRICE: Rs 1,215

The recovery in jewellery is encouraging. It should see further improvement in the upcoming festive/wedding season. Strong growth recovery showcases business strength and builds in confidence for market share gains. TTAN remains our top pick among discretionary names as we believe that the pace of recovery will improve significantly with the unlocking and the onset of the festive season which can drive more upsides. Maintain Buy.

3:05 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

3:05 PM

Index contributors at this hour

3:00 PM

Q&A :: Global equities to be volatile before US Presidential polls, says Mustafa Sagun

Equity markets are likely to remain volatile leading up to the US Presidential elections. Continued swings in market leadership between the longstanding new economy leaders and the out-of-favour cyclical value opportunities is expected READ MORE

Mustafa Sagun, CIO, Principal Global Equities

2:52 PM

Fall from intra-day high today

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
THYROCARE TECH.	1149.90	1008.00	1028.00	-10.60
ADVANCED ENZYME	384.75	342.25	350.50	-8.90
JINDAL STAIN.	47.80	43.45	43.65	-8.68
INFIBEAM AVENUES	94.05	83.75	86.10	-8.45

2:43 PM

Combined FY21 fiscal deficit of Centre, states may reach 14%: Rangarajan

Speaking at a programme organised by the ICFAI Business School here, the former Chairman of the Economic Advisory Council to the Prime Minister said banks should neither be timid nor adventurous while lending as the loans of today should not become NPAs of tomorrow.

 

"So therefore we are essentially talking about 13.8 per cent or 14 per cent of the GDP (gross domestic product) as the overall fiscal deficit of the states and the Centre. It is obvious this is twice the mandated level. The mandated level for both the Centre and state is 6 per cent of the GDP. READ MORE

2:35 PM

Sensex pares gains, up 277 pts

2:32 PM

Forensic audit report findings not final, says Franklin Templeton

“The reports regarding the findings of the forensic audit/inspection are misleading, and we believe that it is improper to make any publication regarding the forensic audit/inspection report as the matter is under the consideration of the Hon’ble Karnataka High Court,” Franklin Templeton India President Sanjay Sapre said in a note. READ MORE

2:24 PM

Orient Paper surges 9%