The key barometers turned volatile in afternoon trade with the Nifty slipping below its 18,500 mark. At 13:20 IST, the barometer index, the S&P BSE Sensex, jumped 479.24 points or 0.78% at 61,785.19. The Nifty 50 index gained 142.75 points or 0.78% at 18,481.30.
The Sensex hit a record high of 61,962.16 while the Nifty hit an all-time high of 18,543.15 in morning trade.
Infosys (up 3.44%), ICICI Bank (up 2.25%) and Reliance Industries (RIL) (up 0.73%) supported the indices.
In the broader market, the S&P BSE Mid-Cap index rose 0.81%. The S&P BSE Small-Cap index gained 0.72%.
Buyers outnumbered sellers. On the BSE, 1,833 shares rose and 1,523 shares fell. A total of 187 shares were unchanged.
High-paced vaccination drive, reviving economies across the world, easing inflation, and RBI's dovish stance boosted sentiment. However, rising global crude oil prices and a weak domestic currency worried investors.
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Gainers & Losers:
Hindalco Industries (up 6.38%), JSW Steel (up 4.24%), Infosys (up 3.30%), Tata Steel (up 3.19%) and Tata Motors (up 3.19%) were major gainers in Nifty 50 index.
Mahindra & Mahindra (M&M) (down 1.60%), Dr Reddy's Laboratories (down 1.47%), Asian Paints (down 1.34%) and Bajaj Auto (down 1.28%) were major losers in Nifty 50 index.
Nifty Result Today:
Ultratech Cement (up 1.41%) will announce its quarterly results today.
Earnings Impact:
HDFC Bank lost 0.55%. The bank reported an 17.6% increase in its net profit to Rs 8,834.30 crore in Q2 FY22 over Q2 FY21. The bank's net revenues rose 14.7% to Rs 25,085.20 crore in Q2 FY22 over Q2 FY21.
HCL Technologies shed 2.73%. The IT major reported 1.7% rise in consolidated net profit to Rs 3,259 crore on a 2.9% increase in revenue from operations to Rs 20,655 crore in Q2 FY22 over Q1 FY22.
Avenue Supermarts dropped 6.56%. The company reported consolidated net profit of Rs 418 crore in Q2 FY22 as compared to net profit of Rs 199 crore in Q2 FY21. The company's total revenue rose to Rs 7,789 crore in Q2 FY22 from Rs 5,306 crore in Q2 FY21.
Global Markets:
European stocks fell across the board while most Asian stocks declined on Monday, 18 October 2021, as global markets geared up for big earnings reports.
China's economic growth continued to decelerate in the third quarter, as gross domestic product came in at 4.9%, softened by the country's zero-tolerance COVID measures and energy shortages.
The figure slid from 7.9% for the April-to-June quarter, weighed down by high commodity prices amid uncertainty kindled by the Evergrande Group's debt crisis, which is piling risk onto the property and banking sectors.
US stocks rose on Friday as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks.
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