Stock Market Today: Nifty, Sensex Extend Gains For A Fifth Day Led By Axis, SBI; Kotak Bank Plunges
The Nifty ended 0.75% or 167.95 points higher at 22,570.35 while the Sensex closed up by 0.66% or 486.50 points at 74,339.44.
KEY HIGHLIGHTS
FPIs Stay Net Sellers
Overseas investors stayed net sellers on Thursday for fourth consecutive day.
Foreign portfolio investors sold stocks worth Rs 2,823.33 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors stayed net buyers for the fourth day and mopped up equities worth Rs 6,167.56 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 4,562 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Rupee Flat Against U.S. Dollar
The local currency closed flat at 83.33 against the U.S. Dollar.
Source: Bloomberg
Nifty, Sensex Extend Gains For A Fifth Day Led By Axis, SBI; Kotak Bank Plunges: Closing Bell
Benchmark equity indices extended gains in the fifth consecutive session on the back of gains in the shares of Axis Bank and State Bank of India even as those of Kotak Mahindra Bank plunged nearly 11%.
The Nifty ended 0.75% or 167.95 points higher at 22,570.35 while the Sensex closed up by 0.66% or 486.50 points at 74,339.44.
"With a bullish engulfing candlestick pattern, the Index has filled the bearish gap zone of 22,430-22,500 and is all set to move toward its previous high of 22,750 while the support level has been shifted higher to 22,450," said Aditya Gaggar, director of Progressive Shares.
Shares of Axis Bank Ltd., State Bank Of India., ICICI Bank Ltd., ITC Ltd., and Reliance Industries Ltd. contributed the most to the gains.
While those of Kotak Mahindra Bank Ltd., Hindustan Unilever Ltd., Titan Co Ltd., Bajaj Finance Ltd., and LTIMindtree Ltd capped the upside.
Except, Nifty Realty all sectoral indices ended higher with Nifty PSU Bank rising nearly 4%.
Broader markets ended higher on BSE. The S&P BSE Midcap ended 0.73% up and the S&P BSE Smallcap ended 0.58% up .
On BSE, 18 sectors out of 20 advanced, and two declined. The S&P BSE Services index rose nearly 2% to become the top performer. The S&P BSE Consumer Durables index was the worst performer among peers.
Market breadth was skewed in favour of the buyers. Around 2,079 stock rose, 1,716 stocks declined, and 139 stocks remained unchanged on BSE.
Laurus Labs Q4 Earnings - Consolidated YoY
Revenue at Rs 1,439.67 crore vs Rs 1,380.9 crore, up 4.25%
Ebitda at Rs 241.49 crore vs Rs 285.54 crore, down 15.43%
Margin at 16.77% vs 20.67%, down 390 bps
Net profit at Rs 75.02 crore vs Rs 105.27 crore, down 28.73%
Glenmark Lifesciences Q4 Earnings (YoY)
Revenue at Rs 536.6 crore vs Rs 621.3 crore, down 13.64%
EBITDA at Rs 141.5 crore vs Rs 206.4 crore, down 31.44%
Margin at 26.36% vs 33.22%
Net profit at Rs 97.9 crore vs Rs 146.4 crore, down 33.12%
