By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian indices end higher in today’s trading session led by auto, pharma, and realty sectors.
Nifty rose by 0.72% or 82.75 points and closed at 11,604.55, while S&P BSE Sensex went up by 0.66% or 258.50 points and closed at 39,302.85.
Dr. Reddy’s (4.44%), M&M (4.01%), Hindalco (3.90%), Bajaj Auto (3.52%), and Britannia (3.05%) were among top Nifty gainers, while IndusInd Bank (2.00%), NTPC (1.65%), Bharti Infratel (1.14%), SBI (1.07%), and Axis Bank (1.02%) were among top Nifty losers.
Nifty Pharma, Nifty Auto, and Nifty Realty were among the top performing sectors and gained over 1.5%. BSE Midcap and BSE Smallcap traded in the green and rose by 0.21% and 0.44%, respectively.
Lakshmi Vilas Bank
Stocks of Lakshmi Vilas Bank surged by 9.80% and traded at Rs.22.40 after the bank reported that the process for merger with Clix Group is substantially complete. It further stated that both the parties are in discussions on the next step.
Stocks of Sterlite Technologies rose by 3.62% and traded at Rs.162.95 after the company joined hands with Bharti Airtel to build an optical fibre network.
The Supreme Court rejected the government’s petition challenging the enforcement of the award in Vedanta’s favour. The stocks, however, went up by 1.86% and traded at Rs.134.00 in today’s trading session.
Stocks of PVR Limited declined by 1.32% and traded at Rs.1,248.00 after the company reported a consolidated revenue of Rs.55 crore for the quarter ended June’20 compared to a consolidated revenue of Rs.887 crore during the corresponding period last year. Consolidated loss after tax reported by the firm stood at Rs.226 crore during the quarter.
Bharti Airtel stocks gained a percent but eventually declined by 0.82% and traded at Rs.481.55 after the telecom major joined hands with Sterlite Technologies to build the modern optical fibre network across 10 telecom circles.
Indian rupee ended higher at Rs. 73.52 against the U.S. Dollar amid positive domestic equity markets.
Gold traded higher on MCX amid a marginal decline in the spot gold prices in the international market. Gold futures for October’20 rose by 0.16% to Rs.51,850 per 10 grams.
Oil prices went up in today’s session after a hurricane disrupted the U.S offshore oil and gas production. Bleak global Oil demands however capped the losses.
Global Markets Traded Mixed
Global markets had a mixed performance in today’s session. US stocks rose as investors hoped for a supportive policy from the Federal Reserve. European stocks however traded in the red. Nasdaq went up by 1.12%, and Nikkei 225 rose by 0.09%. On the other hand, FTSE MIB, FTSE 100, and Hang Seng declined by 0.47%, 0.18% and 0.03%, respectively.
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