Stock Market Today: Sensex Closes 450 Points Higher; Nifty Settles At 23,330; Kotak Bank, Wipro Top Gainers
Intraday, the NSE Nifty 50 advanced 0.81% to 23,391, and the S&P BSE Sensex rose 0.91% to 77,318.9.
KEY HIGHLIGHTS
Rupee Closes Stronger Against Dollar
Rupee strengthened by four paise to close at 86.57 against the US dollar.
It closed at 86.61 on Friday.
Source: Bloomberg
Stock Market Live: Nifty, Sensex Gain Ahead Of Trump Inauguration
Indian benchmark indices closed higher after a blip as the world readies for Donald Trump's swearing-in as the 47th US president along with the flurry of executive orders he is expected to sign.
The gains in the key gauges were driven by Kotak Mahindra Bank Ltd. and Wipro Ltd. as positive earnings triggered target price hike by analysts.
The S&P BSE Sensex Index closed 454 points, or 0.59%, at 77,073 while the NSE Nifty 50 was 141 points or 0.61% higher at 23,344.
Intraday, the NSE Nifty 50 advanced 0.81% to 23,391, and the S&P BSE Sensex rose 0.91% to 77,318.9. The gains during the day led the indices to notch the second-best session so far this year.
Indian stock's bull-bear gauge has moved to 'extreme bearish' ahead of a flurry of key macroeconomic events, with only a "relief rally within a larger correction" on the horizon, according to analysts at CLSA. They see that the market may only see a relief rally within a larger correction.
Kotak Mahindra Bank Ltd., HDFC Bank Ltd., Bajaj Finance Ltd., State Bank of India, and ICICI Bank Ltd. added positively to the benchmark index.
Tata Consultancy Services Ltd., Trent Ltd., ITC Ltd., Mahindra & Mahindra Ltd., and SBI Life Insurance Co. Ltd. limited gains to the benchmark index.
On NSE, 10 sectors out of 12 ended in positive, and two sectors ended in negative. The Nifty PSU Bank and Bank Index rose over 1.5% to become the best performer among sectoral indices, and the Nifty Auto index fell the most.
On BSE, 18 sectors advanced and three declined out of 21. The BSE Telecommunication rose the most, while the BSE Auto declined the most.
The BSE Midcap ended 0.66% higher. The BSE Smallcap ended 0.82% to outperform large-cap and midcap stock gauges.
Market breadth was skewed in favour buyers. Around 2,505 stocks advanced, 1,542 stocks declined, and 176 stocks remained unchanged on BSE.
Stock Market Live: Zomato Shares Fall As Profit Slips 66%
Shares of Zomato Ltd. fell over 1% on Monday after it reported over 65% decline in its net profit for the third quarter. The profit for the company fell 66% to Rs 59 crore in the December quarter against Rs 176 crore in the previous quarter.
Zomato Q3 Results (Consolidated, QoQ)
Net Profit down 66% at Rs 59 crore vs Rs 176 crore.
Revenue up 12.6% at Rs 5,405 crore vs Rs 4,799 crore.
Ebitda down 28% at Rs 162 crore vs Rs 226 crore.
Margin at 3% versus 4.7%.
Stock Market Live: Nazara To Raise Rs 495 Crore From Axana Estates
Nazara Technologies Ltd. on Monday announced that it will raise Rs 495 crore via preferential issue of shares. The shares will be allocated to Axana Estates LLP at an issue price of Rs 990 apiece, which is a 5% discount to the current market price.
The shares of Nazara Technologies rose as much as 5.14% to Rs 1,075 apiece, the highest level since Jan. 10.
Read more here.
Stock Market Live: Central Bank of India Net Profit Rises 33.6%
Shares of Central Bank of India Ltd. surged over 4% on Monday after it reported over 30% jump in its net profit for the third quarter. The profit for the company rose 33.6% to Rs 959 crore in the December quarter against Rs 718 crore in the same period last year.
Central Bank of India Q3 Highlights
Net profit up 33.6% to Rs 959 crore versus Rs 718 crore (YoY).
Gross NPA at 3.86% versus 4.59% (QoQ).
Net NPA at 0.59% versus 0.69% (QoQ).
NII up 12% to Rs 3,540 crore versus Rs 3,152 crore (YoY).
