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Indian equity markets continue to extend their rebound, ending higher for the fourth straight day.
The S&P BSE Sensex ended 1.49% higher at 34,843 while the NSE Nifty 50 index ended at 10,471, up 1.55%.
Both benchmark indices have now advanced in five out of the last six trading sessions. The Sensex has advanced 2,202 points while the Nifty has gained 658 points in the last six trading sessions.
Among the sectoral indices, the Nifty Bank ended with gains of 2.6%. The index has gained over 2,350 points in the last six trading sessions.
The Nifty PSU Banking index remained the top sectoral performer, ending with gains of 3.4%. Other than the Nifty Bank, other indices that gained over 2% were the Nifty Media and the Nifty Realty index.
Nifty I.T., FMCG and Metals index gained between 1.5-1.7% each.
Broader markets moved in tandem with the benchmarks with the midcap and smallcap index gaining 1.5% each.
The volatility index, though higher at the start of trade, ended 3.5% lower at 29.39.
Bajaj Finance was the top gainer on the Nifty 50 index, ending 9.2% higher. 46 out of the 50 Nifty constituents ended with gains.
The four laggards that declined on the index, included Reliance Industries, which ended 1.4% lower.
Market breadth remained in favour of the advances. 1,323 stocks on the NSE ended with gains while 504 declined.
Shares fell as much as 3% to Rs 18,806, post the announcement.
Shares are cooling off the day's high, trading higher by 5.6% after gaining as much as 13.36% earlier in the session.
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Shares are at the day's high, up 5.7% to Rs 52.7 and are up for the fourth straight day.
Shares fell as much as 6% to Rs 74 before recovering from the day's low, post the announcement.
Let's take a look at how benchmark indices across Europe have opened:
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Subramanian is confident that support measures unveiled by the government, in addition to a low-base effect, will help lift economic growth next year.
The scope of these orders fall under the 'large' category, which in L&T's terminology, ranges between Rs 2,500 crore - Rs 5,000 crore.
Shares gained as much as 3.7% to Rs 941 and are up for the fourth straight day.
The Nifty has recovered over 35% from its low of 7,511 made in March.
Shares surged to the day's high, gaining as much as 1.7% to Rs 1,908, post the announcement.
The manufacturer of colour pigments reported a 4.5% growth in its revenue and a 5.8% growth in its net profit as compared to the previous year, for the quarter ended March.
Ebitda fell 17.6% while margins narrowed to 12% from 15.2% last year.
Higher other expenses, which included a forex loss of Rs 6.24 crore impacted margins.
Revenue from the pigments segment remained flat while other revenue grew 83% from the previous year.
Shares fell as much as 3.4% to Rs 404.2, snapping a four-day winning streak.
The oral healthcare brand is the top gainer on the Nifty FMCG index, after brokerage firm Nomura initiated coverage on the stock with a buy rating.
Nomura expects a potential upside of 18% on the stock, setting a price target of Rs 1,620.
The note expects oral hygiene consciousness to rise going forward, which will drive consumer habit changes.
It has termed Colgate-Palmolive has one of the most stable companies in a very stable category.
Nomura expects the company report earnings growth of 8%, 15% and 15% for FY21, FY22 and FY23 respectively.
Shares gained as much as 3.2% - its biggest single-day gain in a month to Rs 1,421. The stock is up for the fifth straight day - its best winning streak in five months. The stock is trading at the highest level in two months.
Shares are down for the third straight day, falling as much as 0.9% to Rs 1,803.
Food delivery app Zomato's parent company reported a 7.8% growth in its revenue for the quarter ended March. Ebitda rose 6.4% while net profit fell 63.7% as compared to the previous year.
The losses made by associates and JVs impacted the company's profit. The losses stood at Rs 136 crore as compared to a profit of Rs 90 crore during the same period last year.
An exceptional loss of Rs 183 crore also impacted the company's profit.
The company has also announced that it will raise up to Rs 1,875 crore through a QIP issue.
Shares gained as much as 6.5% to a four-month high of Rs 2,950.
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43.8 lakh shares, totaling to 1.16% of the total equity of the auto component maker exchanged hands in a single large trade on the National Stock Exchange, according to Bloomberg data.
Buyers and sellers of the trade remain unknown.
The stock is locked in an upper circuit of 5% for the fifth straight day at Rs 120.15. Volumes in the stock are 40 times higher than its 30-day average.
16.99 crore shares of the capital goods company exchanged hands on the Bombay Stock Exchange, based on data compiled by Bloomberg.
Buyers and sellers in the trade were not immediately known.
Siemens AG had informed the exchanges on June 17 that it intends to sell 47.7% stake in Siemens India to Siemens International Holding through an inter-se transfer.
Shares gained as much as 2.85% to Rs 1,114.7 and are up for the fourth straight day. Its longest winning streak in over two months.
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Indian equity markets opened flat but with a positive bias after markets across the globe fluctuated amid trade uncertainties.
The S&P BSE Sensex opened 0.3% higher at 35,015 while the NSE Nifty 50 index opened at 10,347, up 0.36%. The top five laggards on the Nifty 50 index are I.T. stocks.
Both benchmark indices opened higher for the fourth straight day.
Among the sectoral indices, the I.T. index was the only sectoral laggard, opening 0.4% lower while the media, PSU Bank and Realty indices opened with gains of over 1%.
Market breadth was in favour of the advances. 1,172 stocks on the NSE opened with gains while 266 declined.
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