Skip to main content


Market staged a determined comeback as the benchmark BSE Sensex today rallied over 328 points and reclaimed the 26,000-mark to close at about a 4-month high, tracking a recovery in global stocks and oil prices. Corporate earnings set the ball rolling as blue-chips' quarterly numbers were mostly in line. Investors got their confidence level back with a higher opening in Europe as the US Federal Reserve went into its latest policy meeting, brokers said. The Bank of Japan is also due to meet this week. Foreign inflows continued unabated, which helped. The NSE Nifty topped the psychological 7,900.
Major Asian indices closed mixed tracking the overnight gains on the Wall Street, which made European shares rule strong in early trade. The 30-share barometer stayed in the red in early part of the session, but staged a spectacular rally to erase all the losses after all-round buying. It ended up 328.37 points, or 1.28 per cent, at 26,007.30 -- its highest closing since January 1.
The index has lost 201.45 points over the past two days. The broader NSE Nifty soared 107.60 points, or 1.37 per cent, to close the day at 7,962.65 after shuttling between 7,822.55 and 7,973.05. The rupee, at 66.52, notched up gains against the dollar, which spurred the bulls. "Fourth quarter results season has kicked off and has managed to meet market expectations for most sectors till now," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio. The session belonged to Maruti Suzuki, which climbed 3.62 per cent despite a drop in its quarterly profit. Net sales rose 12.5 per cent, which pushed up the stock. Tata Steel, Cipla, BHEL, Lupin and Axis Bank too gained. Of the 30-share Sensex, 28 advanced. On the sectoral front, banking zoomed 2.02 per cent, followed by metal 1.98 per cent, realty 1.93 per cent, auto index 1.57 per cent, technology 1.16 per cent and IT 1.13 per cent. Broader markets such as the BSE mid-cap and small-cap rose 0.79 per cent and 0.68 per cent, respectively.
Cigarette stocks found themselves at the receiving end following reports that the government is working on a proposal to completely ban foreign direct investment (FDI) in the tobacco sector. Godfrey Phillips fell 17.54 per cent to Rs 931.25. Most Asian markets closed mixed while European indices were trading firm. Foreign portfolio investors (FPIs) net bought shares worth Rs 222.34 crore yesterday, according to provisional data.


Popular posts from this blog


Telecom stocks today surged up to 8 per cent after the recent increase in Reliance Jio tariffs, which is largely seen as positive for the sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs 497.50 on BSE. Bharti Airtel was the biggest gainer among the 30-share index components. The scrip of Idea Cellular soared 7.74 per cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per cent to Rs 17.70. Reliance Jio made its service dearer by about 15 per cent for its popular 84-day plan at Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day. The company restructured its various schemes by reducing their validity period. The recent increase in Reliance Jio tariffs will increase its average revenue per user by up to 20 per cent and is a positive for the telecom sector, which is seeing a rapid consolidation, says a Philip Capital report. Established telecom sector players have seen huge reduction in their margins. Idea Cellular and Reli…


Stock markets ended on a flat note on Wednesday, just below their record highs, but finished Samvat 2073 with robust gains of over 16 per cent. Equities added over Rs 25 lakh crore to investors' wealth this Samvat year. The benchmark Sensex has gained 4642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1572.85 points, or 18.20 per cent during this period.
Small loss in last session
In the last session of the Samvat 2073 on Wednesday, the 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45. The Sensex resumed lower at 32,518.56 and fell further to a low of 32,462.85 before ending at 32,584.35, down 24.81 points or 0.08 per cent. Investors adopted a cautious approach ahead of the long Diwali weekend, while a weak rupee too affected sentiment, brokers said.
- Axis Bank emerged as the worst performer among Sensex components, tumbling 9.52 per cent following a spike in ba…


The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
There are 29 pu…