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Indian equity markets ended a highly fluctuating day with gains, extending their winning streak for the third straight day.
The S&P BSE Sensex ended 0.9% higher at 40,616, while the NSE Nifty 50 index managed to end above the mark of 11,900, ending with gains of 0.8% at 11,908.
The Nifty Bank too had a volatile trading day, trading in a broad range of over 800 points. The index recovered over 600 points from the day's low to end 0.3% higher at 25,771.
The Nifty Pharma index was the top sectoral gainer in today's session, ending 2.2% higher while the I.T. index too ended with gains of 1.8%.
The Nifty Realty index was the top sectoral laggard; ending 1.9% lower.
IndusInd Bank ended as the top gainer on the Nifty, with gains of 4.9%. 33 out of the 50 index constituents gained. UPL ended lower for the third straight day and was the top Nifty laggard for most parts of the session, down 3.9%.
Broader markets had a mixed picture at the close of trade. The Nifty Midcap index ended 0.6% higher while the Nifty Smallcap index ended little changed.
India Volatility index ended off the day's low, but down 4.3% at 23.2.
949 stocks on the NSE ended with gains while 868 stocks declined.
U.S. stock futures fluctuated while Treasuries jumped after President Donald Trump called for Supreme Court to intervene in the counting of votes.
Contracts on the S&P 500 benchmark swung from losses to gains. Futures on the Nasdaq 100 remained up 1.5% for most of the day. Ten-year Treasury yields fell to 0.76% while the dollar strengthened.
Earlier, Trump falsely claimed an election victory even as several battleground states were still counting votes.
Elsewhere, the Stoxx Europe 600 Index was little changed while the MSCI Asia Pacific Index climbed 0.3%.
Alibaba Group Holding Ltd. tumbled 7.5% in Hong Kong after China halted the initial public offering of Ant Group Co., in which Alibaba owns one-third stake. Asian stocks were mixed with Japan outperforming and Australia lagging.
We are up BIG, but they are trying to STEAL the Election. We will never let them do it. Votes cannot be cast after the Polls are closed!
— Donald J. Trump (@realDonaldTrump) November 4, 2020
Both benchmark indices, Nifty 50 and Sensex, came off the day’s high but remained in the green.
Treasuries jumped, the dollar climbed and U.S. equity futures pushed higher as early tallies suggested the outcome of the American presidential election could be closer than polls had suggested.
Currencies
Commodities
Indian equity markets continued to trade higher, following American markets as the country tallies votes for its presidential election.
PVR Shares Rise After Lockdown Rent Waiver; Discounts
Multiplex chain PVR Cinema Ltd. gained as much as 8% - the most in over a month to Rs 1,189, in early trading. The multiplex player on Tuesday said that it has managed to reach settlements for more than 60% of cinemas for complete rent waiver for the lockdown periods and significant discounts post reopening.
U.S. Stock Limit Rules Halted Nasdaq Trading as Futures Soared
Indian equity markets may open marginally lower as suggested in the pre-open session.
The S&P BSE Sensex was down 100 points while the NSE Nifty 50 index is down 0.3% in pre-open trade. This after the SGX Nifty futures saw fluctuations all through early morning, in-line with the fluctuations in the U.S. equity futures.
Indian equity markets may open marginally lower as suggested in the pre-open session.
Adani Ports: Guides for FY21 revenue to be between Rs 12,500 - Rs 13,000 crore and Ebitda to range between Rs 8,000 - Rs 8,500 crore. Expects net debt-equity to return to target range of 3-3.5x by FY22.
Ajanta Pharma: Announces share buyback worth Rs 136 crore. Board to buyback 7.35 lakh shares or 0.84% of total equity at Rs 1,850 per share. The buyback price is a 15% premium to Tuesday's closing price. Record date for the same has been set as November 13.
PVR: Got complete rent waiver on lockdown period on 60% of its screens and significant discounts on reopening. Has secured permission to re-open 575 out of the total 831 screens.
Dabur: Brokerages raise price targets after Q2 earnings beat.
The dollar continues to gain, even against other haven currencies like the Japanese yen and the Swiss Franc.
Among the top Google searches on U.S. #ElectionDay is "liquor stores near me" 🥃
— Bloomberg (@business) November 4, 2020
In fact, searches for that are at an all-time high 📈 https://t.co/UzQd5BpqkC pic.twitter.com/ZGgxovh33K
U.S. equity futures swung and Treasuries surged as early tallies suggested the outcome of the American presidential election could be closer than polls had suggested.
S&P 500 futures retreated after earlier rising over 1%, though Nasdaq 100 contracts pointed higher. Benchmark Treasury yields reversed sharply, falling toward 0.8% after earlier surpassing 0.9%.
The dollar erased losses and pushed higher. Oil extended Monday’s gains.
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