Key benchmark indices settled on a firm note tracking gains in global stock markets triggered by the Federal Bureau of Investigation (FBI) clearing Democratic candidate Hillary Clinton of any wrongdoing over the weekend. The barometer index, the S&P BSE Sensex, gained 184.84 points or 0.68% to settle at 27,458.99. The Nifty 50 index gained 63.30 points or 0.75% to settle at 8,497.05.
Pharma shares gained on renewed buying. Metal shares were in demand after copper price edged higher in the global commodities markets. Realty stocks edged higher.
The Sensex gained 184.84 points or 0.68% to 27,458.99, its highest closing level since 2 November 2016. The Sensex rose 317 points, or 1.16% at the day's high of 27,591.15. The index rose 124.57 points, or 0.46% at the day's low of 27,398.72.
The Nifty 50 index gained 63.30 points or 0.75% to 8,497.05, its highest closing level since 2 November 2016. The Nifty rose 102.10 points, or 1.21% at the day's high of 8,535.85. The index rose 47.70 points, or 0.57% at the day's low of 8,481.45.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 2,020 shares rose and 861 shares fell. A total of 142 shares were unchanged. The BSE Mid-Cap index rose 0.59%, underperforming the Sensex. The BSE Small-Cap index rose 1.19%, outperforming the Sensex.
The total turnover on BSE amounted to Rs 3193.59 crore, lower than turnover of Rs 4545.34 crore registered during the previous trading session.
Among the sectoral indices on BSE, the S&P BSE Metal index (up 1.94%), the S&P BSE Healthcare index (up 1.89%), the S&P BSE Bankex (up 1.7%), the S&P BSE Realty index (up 1.5%), the S&P BSE Power index (up 1.2%), the S&P BSE FMCG index (up 1.15%), the S&P BSE Finance index (up 1.05%), the S&P BSE Basic Materials index (up 0.99%), the S&P BSE Oil & Gas index (up 0.83%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.76%), the S&P BSE Utilities index (up 0.75%) outperformed the Sensex. The S&P BSE Energy index (up 0.51%), the S&P BSE Auto index (up 0.36%), the S&P BSE IT index (up 0.26%), the S&P BSE Consumer Durables index (up 0.17%), the S&P BSE Teck index (up 0.15%), the S&P BSE Industrials index (up 0.15%), the S&P BSE Capital Goods index (down 0.09%) the S&P BSE Telecom index (down 0.53%), underperformed the Sensex.
Index heavyweight and cigarette major ITC advanced 3.05% to Rs 256.70. The stock hit a high of Rs 259.60 and low of Rs 247.25 in intraday trade.
More From This Section
Pharma shares gained on renewed buying. Aurobindo Pharma (up 5.68%), Dr Reddy's Laboratories (up 0.7%), Glenmark Pharmaceuticals (up 3%), Sun Pharmaceutical Industries (up 0.69%), Cipla (up 0.23%), and Wockhardt (up 1.22%) gained. Cadila Healthcare (down 1.64%), Alkem Laboratories (down 0.85%), GlaxoSmithKline Pharmaceuticals (down 0.13%) fell.
Lupin jumped 6.93%. The company announced that it has received notification that the inspection carried out by the USFDA in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding US FDA inspections at Lupin's Goa facility, the company said. Commenting on the receipt of the EIR, Vinita Gupta, Chief Executive Officer and Nilesh Gupta, Managing Director, Lupin said that the company is committed to ensuring that all systems and processes followed by it are compliant with cGMP and are committed to bringing quality products to market. The announcement was made on Saturday, 5 November 2016.
Pfizer gained 0.34% after net profit rose 52.49% to Rs 126.33 crore on 6.35% rise in total income to Rs 581.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.
Pfizer said that the Q2 results witnessed the full impact of the price reductions announced by the Government between March and June of this year. Revenue has been impacted by Rs 22 crore due to these price reductions with the impact being felt most in mid-tier and tail brands. Excluding the impact of price reductions, revenue growth for Q2 would have been 9%, it added. During Q2 September 2016, the company on completion of requisite formalities and receipt of necessary regulatory approvals has concluded the transfer of four brands for a consideration of Rs 110 crore. The consideration net of direct expenses and adjustment for proportionate allocation of fair value of consideration has been reflected as an exceptional item.
Metal shares were in demand after copper price edged higher in the global commodities markets. Hindalco Industries (up 5.72%), Hindustan Zinc (up 2.78%), Jindal Steel & Power (up 2.69%), Tata Steel (up 1.95%), Steel Authority of India (up 1.79%), Bhushan Steel (up 1.51%), Hindustan Coppe (up 1.21%), National Aluminium Company (up 1.17%), Vedanta (up 0.94%) and JSW Steel (up 0.68%), edged higher.
NMDC rose 0.55% at Rs 127.70. The company said its total production rose 20.60% to 16.80 million tonnes in October 2016 over October 2015. Total sales rose 19.84% to 18.97 million tonnes in October 2016 over October 2015. The announcement was made after market hours on Friday, 4 November 2016.
High Grade Copper for December 2016 delivery was currently up 1.61% at $2.3015 per pound on the COMEX.
Engineering and construction major L&T fell 1.26% to Rs 1,401 amid volatility after the Government of India offloaded stake in the company via bulk deal mechanism on the stock exchanges on Friday, 4 November 2016.
Shares of Grasim Industries rose 2.17%. The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from up to 30% of the paid up capital of Grasim Industries under the Portfolio Investment Scheme (PIS). The Reserve Bank has stated that Grasim Industries has passed resolutions at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from default 24% to 30% for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges. The announcement was made after market hours on Friday, 4 November 2016.
Most bank shares edged higher. Among public sector banks, Bank of Baroda (up 3.93%), Canara Bank (up 3.1%), State Bank of India (up 4.06%), Andhra Bank (up 2.98%), Indian Bank (up 2.29%), IDBI Bank (up 2.4%), Bank of India (up 1.98%), edged higher. Union Bank of India fell 1.71%.
Punjab National Bank jumped 6.57%. The bank's net profit fell 11.54% to Rs 549.36 crore on 3.77% rise in total income to Rs 14,218.27 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.
UCO Bank rose 1.37% after the bank announced that it raised non-convertible, unsecured, subordinated fully paid-up Basel III compliant perpetual debt instruments eligible for inclusion in additional tier I capital of Rs 750 crore through private placement. The announcement was made after market hours on Friday, 4 November 2016.
Central Bank of India fell 0.79% after the bank reported net loss of Rs 641.82 crore in Q2 September 2016 compared with net profit of Rs 112.87 crore in Q2 September 2015. Total income decreased 2% to Rs 6965.45 crore in Q2 September 2016 over Q2 September 2015. The bank's provisions and contingencies jumped 157.4% to Rs 1661.21 crore in Q2 September 2016 over Q2 September 2015.
The bank's gross non-performing assets (NPAs) stood at Rs 25717.95 crore as on 30 September 2016 compared with Rs 25107.47 crore as on 30 June 2016 and Rs 13358.15 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 13.7% as on 30 September 2016 as against 13.52% as on 30 June 2016 and 6.86% as on 30 September 2015. The ratio of net NPAs to net advances stood at 8.17% as on 30 September 2016 compared with 8.17% as on 30 June 2016 and 3.83% as on 30 September 2015.
Among private sector banks, RBL Bank (up 4.81%), Axis Bank (up 1.32%), Yes Bank (up 0.8%), HDFC Bank (up 0.5%), Federal Bank (up 0.78%), and Kotak Mahindra Bank (up 0.26%), edged higher. IndusInd Bank shed 0.18%.
Private sector bank ICICI Bank rose 3.36% ahead of the bank's Q2 September 2016 results today, 7 November 2016.
Realty stocks edged higher. DLF (up 2.9%), Indiabulls Real Estate (up 3.22%), Housing Development and Infrastructure (up 1.7%), D B Realty (up 2%), Unitech (up 2.36%), Sobha (up 0.84%), Prestige Estates Projects (up 0.17%), and Parsvnath Developers (up 0.74%) rose. Oberoi Realty (down 0.97%) and Godrej Properties (down 0.46%) fell.
PNB Housing Finance settled at Rs 890.60, a premium of 14.92% over the initial public offer price of Rs 775 per share on its debut on the bourses today, 7 November 2016. On BSE, 64.25 lakh shares were traded in the counter. The stock made its debut on the bourses at Rs 863, a premium of 11.35% over its initial public offer (IPO) of Rs 775 per share. The stock hit high of Rs 902.95 and low of Rs 860.05 in intraday trade. The IPO of PNB Housing Finance saw strong response from investors. The IPO was subscribed 29.55 times. The issue price was fixed at top end of the price band of Rs 750 to Rs 775 per share. PNB Housing Finance is the fifth largest housing finance company (HFC) in India by the size of loan portfolio. The company offers housing loans as well as non-housing loans such as loans against property (LAP), non-residential premises loans (NRPL), lease rental discounting (LRD), and corporate term loans (CTL).
Ujaas Energy rose 1.99% after the company said it has secured an order for commissioning of a solar power system of 50 Kwp at main office building of RBI at Bhopal in Madhya Pradesh. The announcement was made after market hours on Friday, 4 November 2016.
Honda Siel Power Products surged 6.45% after net profit jumped 107.7% to Rs 17.90 crore on 21.9% growth in net sales to Rs 179.14 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 5 November 2016.
Meanwhile, the Sensex has fallen 471.22 points or 1.69% in November 2016 so far (till 7 November 2016). The Sensex has risen 1,341.45 points or 5.14% in calendar year 2016 so far (till 7 November 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 4,964.38 points or 22.07%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 1,618.29 points or 5.57%. The Sensex is off 2,565.75 points or 8.55% from a record high of 30,024.74 hit on 4 March 2015.
In overseas stock markets, European and Asian stocks edged higher today, 7 November 2016, as Democrat Hillary Clinton's bid for the White House gained new momentum after she averted charges over her use of emails. Investors around the world have been watching the US elections warily, and many have reacted to the prospects of a Donald Trump presidency with horror, concerned about his outlandish and economically questionable proposals.
Trading in US index futures indicated that the Dow Jones Industrial Average could rise 233 points at the opening bell today, 7 November 2016.
In US, the S&P 500 ended lower on Friday, 4 November 2016, for a ninth straight day, the longest losing streak for the benchmark index in more than 35 years, as investors stayed on edge ahead of an uncertain US election. The tech-heavy Nasdaq also ended lower for a ninth-consecutive session, while the Dow industrials closed down for a seventh straight day.
The outcome of United States presidential elections of 2016, which will be held tomorrow, 8 November 2016, will have a bearing on global stocks. Presidential election will be held between Democratic party candidate Hillary Clinton and Republican party candidate Donald Trump. The results are expected on the next day of elections.
Powered by Capital Market - Live News