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Indian equity markets began the November series on a volatile note as global markets countdown to the U.S. Presidential elections. Benchmark indices ended with a negative bias and posted losses for the week as well.
The S&P BSE Sensex ended 0.34% lower at 39,614 while the NSE Nifty 50 index 0.2% lower at 11,642. Both the indices ended off the lowest point of the day, after being down over 1% towards the final hour of the session.
It was a mixed day for sectoral indices. Realty, Media and Metal stocks outperformed while Banks, Auto and FMCG were the laggards.
The Nifty Realty index ended 2.1% higher while the Nifty Media and Nifty Metal index gained 1.5% each.
The Nifty Auto was the top underperformer, down 1.1% while the Nifty Bank and Nifty FMCG fell 0.7% each.
Broader markets too had a mixed session. The Nifty Midcap index ended 0.5% higher while the Smallcap index ended lower by a similar quantum.
India Volatility Index ended 2.2% higher at 24.54.
950 stocks on the NSE ended with gains while 885 stocks reported losses.
Shares fell as much as 5.9% - the most in a month to Rs 176. The stock is down for the third straight day.
Shares gained as much as 4.6% to Rs 32.9, post the announcement.
Shares fell as much as 2% to Rs 233.9, before recovering from the low.
Shares gained as much as 3.9% to Rs 9,400, post the announcement.
Shares gained as much as 4.6% to Rs 747, before giving up half the gains.
Shares are off the day's high, after gaining as much as 4.5% to Rs 81.9. The stock is trading 2.7% higher at Rs 80.50.
The company has informed the exchanges that its wholly-owned subsidiary 'Dodaballapur Hoskote Highways Pvt. Ltd.' has executed the concession agreement with the National Highway Authority of India.
The project involves four laning of a 38 kilometer stretch between Dodaballapur Bypass to Hoskote at NH-648 under the Hybrid Annuity Mode.
The bid project cost for the same is Rs 1,278 crore and the completion period for the project is 24 months. The operation period is 15 years from COD.
Shares gained as much as 2% to Rs 330, post the announcement.
The Indian drugmaker is planning to spend as much as Rs 1,500 crore over the next two months to expand its production capacity, its CEO Satyanarayana Chava told Bloomberg in an interview.
“We have a good visibility of orders going forward and this large capital outlay will help us meet the needs of the customers,” Chava said.
The company's net profit in the second quarter rose nearly fourfold to Rs 243 crore.
The stock is the top performer in the Indian equity markets this year, with gains of nearly 350%.
Chava said that the capex will help double capacity for its formulations business and also raise the capacity for its API business by 50%.
The capex will be funded by a mix of internal accruals and some external debt.
IndiGo’s Q2FY21 Performance:
Shares are currently trading little changed at Rs 451.3.
Shares gained as much as 7.2% to Rs 8.95, before cooling off.
Shares gained as much as 13.8% to Rs 404. The stock is trading at the highest level in a month.
Shares of the broking firm are surging in today's session after Thursday's market data suggested an HNI purchase in the stock.
Kuwait Investment Authority acquired 4.3 lakh shares of the company at Rs 321.73, as per data available on the exchanges. The total number of shares acquired amount to an overall stake of 0.5%.
Shares gained as much as 16.4% to Rs 379.3 and are up for the sixth straight day.
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Shares are locked in an upper circuit of 10% at Rs 884.15.
Shares gained as much as 16% - its biggest single-day gain in nearly two months to Rs 3,767.2. The stock is trading at its highest level since March 2019.
The downstream oil refiner informed the exchanges on Thursday that it will be considering a proposal for buyback of equity shares at its board meeting on November 4.
This will make HPCL the third state-run company after KIOCL and NTPC to announce a share buyback plan.
Bloomberg News had earlier reported that the government has asked eight companies including the likes of Coal India, NMDC to utilise excess cash on their books for buybacks.
Based on the latest shareholding pattern, the government holds 51.1% stake in HPCL.
Shares gained as much as 3.3% to Rs 185.5 and are up for the second straight day.
Indian equity markets have begun the first day of the November series and an earnings-heavy day on a subdued note, after declining for two straight sessions.
The S&P BSE Sensex opened 30 points higher at 39,779 while the NSE Nifty 50 index is up 7 points at 11,678 at the start of trade. As of closing on Thursday, both Sensex and Nifty were down over 2% for the week.
Most sectoral indices have opened flat. The Nifty Media index is up 0.8% while the PSU Bank index is trading 0.6% higher. Nifty Metal and Nifty Pharma are up 0.4% each.
Broader markets are off to a flat start but with a positive bias. The Nifty Midcap index is up 0.2% while the Smallcap index is 0.4% higher.
935 stocks on the NSE have opened with gains while 474 are declining.
Source: ICICI Direct
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