EQUITY MARKET CONTINUED THE VOLATILITY AND ENDED WITH GAIN AROUND 1%
Domestic Equity market reacted positively on the last day of the futures and options (F&O) contracts for the November series. Buying came back after yesterday’s big fall. Indian Equity Benchmark Indices ended around 1% higher due to strong Buying in Metal, IT and Banking Stocks. BSE Sensex surged 432 points to settle at 44,259.74 levels with shares of Tata steel, Bajaj Finance, Bajaj Auto, HDFC, HCL Tech, Axis Bank surged over 5.16%, 2.95%, 2.60%, 2.20%, 2.16%, 2.13% subsequently whereas Maruti and ONGC were the top losers. 25 out of 30 constituents were in advance while 5 stocks were in declines on BSE. The Nifty50 rallied 1 per cent with Metal, Pharma, Bank Indexes gained 3.85%, 1.43%, 1.21% respectively while Energy Index was the only loser with a loss of 0.26%.
TOP STOCKS IN NEWS CAST:
Tata steel moved over 5% after reporting a strong earnings during the recently concluded quarter. The company delivered strong results in India with broad-based, market-leading volume growth, and strong cash flow generation in September quarter (Q2FY21).
Bajaj Auto surged over 2% as Morgan Stanley has maintained its ‘Overweight’ rating on the stock based on long-term trends around premiumisation, exports and power train changes.
HDFC Bank rose over 2% as the bank had crossed ₹8 trillion in market capitalisation intraday on Wednesday, the third company and the first lender to reach the milestone. ICICI Bank has signed an MOU with HDFC Bank to Support SME’s.
