The domestic equity barometers ended with modest gains on the Muharat trading day. The Nifty closed above the 17,900 mark. Shares rose across the board with autos, PSU banks and FMCG stocks gaining the most.
The barometer index, the S&P BSE Sensex, gained 306.74 points or 0.51% to 60,078.66. The Nifty 50 index added 87.60 points or 0.49% to 17,916.80.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.34% to 15.75.
In broader market, The S&P BSE Mid-Cap index advanced 0.81% while the S&P BSE Small-Cap index rose 1.49%.
The market breadth favored the buyers. On the BSE, 2586 shares rose and 518 shares fell. A total of 160 shares were unchanged.
The domestic market was open today for a special one-hour Muhurat trading session on the occasion of Diwali. The session also marks the beginning of Samvat 2078 -- the Hindu calendar year that starts on Diwali.
The exchanges will remain closed on Friday, (5 November), on the occasion of Diwali Balipratipada.
Numbers to Watch:
MCX Gold futures for 3 December 2021 settlement rose 1.21% to Rs 47,571.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.43% to 94.28.
In the commodities market, Brent crude for January 2022 settlement rose $1.83 at $83.82 a barrel. The contract fell $2.73, or 3.22% to settle at $81.99 a barrel in the previous trading session.
Global markets:
Shares in Europe and Asia advanced on Thursday as markets reacted to the U.S. Federal Reserve's announcement that it will start to taper its bond-buying program and the Bank of England's decision to hold rates steady for now.
US stocks rose to new records on Wednesday after the US Federal Reserve made its long-anticipated announcement to slow the monthly bond purchases the central bank implemented during the pandemic.
The Fed said it will begin tapering bond purchases later this month and will reduce buying by $15 billion a month, putting it on track to end the quantitative easing by the middle of next year. This timeline and amount was in line with expectations. However, the Fed said it is prepared to alter the pace of purchases if warranted by changes in the economic outlook.
In Europe, the Bank of England held interest rates steady on Thursday. The bank's Monetary Policy Committee voted 7-2 to keep its benchmark interest rate unchanged at its historic low of 0.1%, and 6-3 in favor of continuing the existing program of U.K. government bond purchases at a target stock of 875 billion ($1.2 trillion). The MPC voted unanimously to maintain its 20 billion stock of corporate bond purchases, keeping the total asset purchase program at 895 billion.
Buzzing Index:
The Nifty Auto index advanced 1.48% to 11,569.80. The index had declined 1.04% to end at 11,401.20 yesterday.
Mahindra and Mahindra (up 2.81%), Bajaj Auto (up 1.65%), Hero MotoCorp (up 1.36%), Ashok Leyland (up 1.22%), Tata Motors (up 0.99%), Bharat Forge (up 0.81%), TVS Motor Company (up 0.31%) and Maruti Suzuki (up 0.17%) edged higher.
Eicher Motors rose 5.54% to Rs 2,661.60 after the company's consolidated net profit grew 8.7% to Rs 373.20 crore on a 6.02% rise in total income to Rs 2368.02 crore in Q2 FY22 over Q2 FY21.
Stocks in Spotlight:
Pfizer shed 0.45% to Rs 5005.80. The company's standalone net profit rose 8.81% to Rs 142.95 crore on a 7.2% rise in total income to Rs 651.29 crore in Q2 FY22 over Q2 FY21.
Bata India gained 0.62% to Rs 2048.65. The company posted a consolidated net profit of Rs 37.19 crore in Q2 FY22 as against a consolidated net loss of Rs 44.32 crore registered in Q2 FY21. Total income rose 63.65% to Rs 625.66 crore.
Steel Strips Wheels advanced 1.34% to Rs 1770.00. The company confirmed export orders valued close to $12 million from Western Hemisphere. The said orders would be executed till end of Jan 2022 from its Chennai & Dappar plants.
Lupin shed 0.08% to Rs 934.00. The drug major announced the launch of the authorized generic version of Antara (Fenofibrate) Capsules, 30 mg and 90 mg, of Lupin Atlantis Holdings, S.A. Corporation, a wholly-owned subsidiary of Lupin.
Precision Camshafts added 1.93% to Rs 100.60. The company has signed an MoU with Solapur Municipal Corporation (SMC) to develop 100% retrofitted electric vehicles for waste collection.
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