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Indian equity markets continued their record-breaking run, extending their winning streak for the seventh straight day, ending at another record high.
The S&P BSE Sensex ended 1.6% higher, above the mark of 43,000 for the first-time. The index closed at 43,277. The NSE Nifty 50 index ended above the mark of 12,600 - up 1.36% at 12,631. 32 out of the 50 index constituents ended with gains.
The Nifty Bank ended at its highest level since March, ending 1,071 points or 3.9% higher at 28,606. The index has gained 4,700 points in the last seven trading sessions.
Also among the gains was the PSU Bank index, which ended with gains of 3.7%. The Nifty Realty ended 2% higher while the Nifty Media index gained 1%.
The only underperformers in today's session were Nifty I.T. and Nifty Pharma, as investors chose to take profits off the table from defensives into more economy-oriented sectors. The Nifty I.T. index ended 3.9% lower while the Pharma index fell 4.3%. All the respective index constituents ended with losses.
Broader markets underperformed in today's session. The Nifty Midcap index ended 0.3% higher while the Smallcap index ended little changed.
India Volatility Index ended 7.3% higher at 21.57.
1,016 stocks on the NSE posted losses while 857 ended with gains.
Hindalco's EBITDA up 31.9%, year-on-year. #Q2WithBQ
— BloombergQuint (@BloombergQuint) November 10, 2020
LIVE market updates here: https://t.co/Q8tiFeOrhZ pic.twitter.com/UnYUJAnSFL
Mahindra and Mahindra's EBITDA up 34%, year-on-year. #Q2WithBQ
— BloombergQuint (@BloombergQuint) November 10, 2020
LIVE market updates here: https://t.co/Q8tiFeOrhZ pic.twitter.com/hH7KsBnzB3
IndiaMart InterMesh Stock Makes A U-Turn, Recovers From Two-Month Low
Indian equity markets opened higher for the seventh straight day, at new record highs, as sentiment across the globe remains positive.
Investors are taking heart from the developments pertaining to the Covid-19 vaccine developed by Pfizer and Bio-N-Tech.
The S&P BSE Sensex opened 0.85% higher at 42,959 while the NSE Nifty 50 index opened 0.8% higher at 12,556.
I.T. stocks are the top laggards in today's session, as investors shift bets away from defensives into more economy-oriented sectors. The Nifty I.T. index has opened 0.9% lower.
The Nifty Bank index has opened another 1.8% higher, adding to its six-day gaining streak. The Nifty Media index is up 1.7% while the Nifty PSU Bank and Nifty Auto indices have opened with gains of 1% each.
Broader markets have opened in-line with benchmarks. Both Nifty Midcap and Nifty Smallcap indices are gaining 0.8% each at the start of trade.
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