Sensex ends 355 pts higher amid tight US presidential race; IT stocks gain

All that happened in the markets today

3:43 PM

SECTOR WATCH | Nifty Pharma jumps over 2%

3:42 PM

MARKET AT CLOSE | Gainers and losers on the BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended 355 points, or 0.88 per cent higher at 40,616 levels while NSE's Nifty ended at 11,908.50, up 95 points, or 0.80 per cent.

3:30 PM

COMMENT | US election impact on market - Views from Naveen Kulkarni, CIO, Axis Securities

"The election results are unlikely on the election night and it could possibly take much longer for the final results to come out. The market initially opened with a lot of optimism but now it seems quite unclear how the results will pan out. Even in the case of a democrat Presidential win, the senate control could still be in the hands of republicans translating to a weaker democrat win. The emphatic stimulus that was expected post-elections will take more time. Markets in the short period could be jittery as the election verdict could still swing either way. The election has turned out to be much tighter than anticipated with new challenges emerging."

3:28 PM

MARKET CHECK

3:24 PM

BROKERAGE VIEW | ICICI Securities on The Ramco Cement

Long history of operations, brand equity, low cost producer and a healthy B/S are factors that helped the company to raise debt at competitive rates. We expect these factors to drive robust performance in future as well. We maintain our BUY rating, valuing the company at 12x FY23E EV/EBITDA. We arrive at a target price of Rs 1,000/share (ie EV/t of $175).

3:17 PM

Adani Ent hits fresh 52-week high on healthy operational performance in Q2

Shares of Adani Enterprises hit a fresh 52-week high of Rs 358.95, up 4 per cent on the BSE on Wednesday after the company reported a strong operational performance in the September quarter (Q2FY21). The stock of the Adani Group company recovered 6.5 per cent from its intra-day low of Rs 337.50 on the BSE. READ MORE 

3:07 PM

Gland Pharma IPO price band at Rs 1,490-1,500, offer opens on Nov 9

Gland Pharma, which announced its about Rs 6,500 crore Initial Public Offer (IPO), has set a price band of Rs 1,490-1,500 per share (face value of Rs one) and the issue will be open on November 9, a senior official of the city-based drug maker said on Wednesday. READ MORE

2:55 PM

Rupee settled sharply lower today

Source: Bloomberg

2:50 PM

Oil drops after Trump claims victory in US election despite uncounted votes

Oil turned lower on Wednesday after President Donald Trump claimed victory in a tight US election, despite millions of votes still to be counted and a final result not expected for days.

 

West Texas Intermediate was down 15 cents, or 0.4%, at $37.51 a barrel by 0755 GMT, after choppy trade in positive territory for most of the Asian session. Brent crude was off by 8 cents, or 0.2%, at $39.63, after trading between $39.85 and $40.80. READ MORE

2:42 PM

Laurus Labs extends fall for fourth straight day, dips 21% from record high

Shares of Laurus Labs were trading lower for the fourth straight day on Wednesday. The stock slipped 7 per cent to Rs 271 on the BSE in the intra-day trade. With today’s decline, the stock of the pharmaceutical company has slumped 21 per cent from its record high level of Rs 345, touched on October 30, 2020, in intra-day trade. READ MORE

2:40 PM

US Elections 2020 :: Japan on new president

Japan will work to strengthen ties with the US regardless of the result, Foreign Minister Toshimitsu Motegi said in remarks in Tokyo.

 

2:36 PM

Contribution to the S&P BSE Sensex's gain

2:25 PM

US polls head into uncertain phase; Trump, Biden fight out in swing states

The closely-fought US presidential election appeared to be headed into an uncertain phase with Republican incumbent Donald Trump and his Democratic challenger Joe Biden fighting it out in the key battleground states. When reports last came in, Biden had earned 220 electoral college votes, with Trump following closely with 213 votes. As per Fox News, Biden has 238 of the 538 electoral college seats, while Trump has 213. On the other hand, CNN has projected 220 electoral college votes to Biden and 213 to Trump. READ MORE

2:13 PM

SBI Q2 result: Profit jumps 52% YoY to Rs 4,574 cr; asset quality improves

State Bank of India’s (SBI’s) September quarter (Q2FY21) standalone net profit jumped 52 per cent year-on-year to Rs 4,574.16 crore as the bank as the bank’s provisions declined. In comparison, it had clocked a net profit of Rs 3,011.7 crore during the September quarter of FY20. On a quarterly basis, the profit rose 9 per cent from Rs 4,189.3 crore-profit reported in Q1FY21. READ MORE