Indian equities kicked off Samvat 2076 on a positive note as benchmark indices ended higher in the auspicious one-hour long Mahurat trading session on Sunday.
The S&P BSE Sensex gained 0.49 percent, or 192 points, to end at 39,250. The NSE Nifty 50 Index ended 0.38 percent higher at 11,628. The NSE Nifty MidCap 100 gained 1.2 percent and the Nifty SmallCap 100 rose 1.18 percent.
Tata Motors Ltd. jumped the most in more than a decade. The stock ended nearly 17 percent higher at Rs 147.95 apiece. That came after the company announced Rs 10,000-crore fundraising plans while announcing its results for the quarter ended September.
How The Sectors Performed
All the 11 sector gauges complied by NSE traded higher, led by the NSE Nifty Auto Index's 1.4 percent gain. Of the 25 Nifty companies that have announced results so far, 17 have either matched or beaten analyst estimates, while one didn't have any forecast.
How Broader Markets Performed
The broader market represented by the NSE Nifty 500 Index rose 0.5 percent, led by the gains in Tata Motors, Tata Motors-DVR and Network 18 Media & Investments Ltd.
“If we don't have any more ‘Zees', ‘Dewan Housings' and ‘IL&FS' in the next year, if there is no more deterioration in the U.S.-China relationship, and if we get that much-talked-about personal income tax cut, then my sense is the Nifty could be somewhere between 13,500-14,000 by next Samvat,” said Rahul Arora, CEO (institutional equities business) at Nirmal Bang Securities.
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