Indian indices end a percent higher with gains in financial, FMCG, and pharma stocks.
The Nifty surged by 1.03% or 121.65 points and closed above the 11,850 mark at 11,889.40, whereas S&P BSE Sensex rose by 0.94% or 376.60 points and closed at 40,522.10. Around 1249 shares advanced, 1354 shares declined, while 178 shares remained unchanged.
Kotak Bank (11.70%), Nestle (5.97%), Asian Paints (5.69%), Shree Cement (5.26%), and Bajaj Finance (4.38%) were among top Nifty gainers. On the other hand, HDFC (2.10%), TCS (1.99%), ONGC (1.83%), Infosys (1.61%), and Wipro (1.46%) were among top Nifty losers.
All sectoral indices except IT and PSU Bank index ended in the green. BSE Midcap and BSE Smallcap ended higher by 1.65% and 0.60% respectively.
Mahindra and Mahindra Financial Services Ltd.
The company reported an increase of 34% in its consolidated net profit which stood at Rs. 353 crore for the second quarter of the FY21. The company’s total income increased by 5%. However, despite the increase, the stocks of the company declined by 4.01% and traded at Rs.125.70.
LG Balakrishnan & Bros Ltd.
The stocks of the company surged by 6.45% and traded at Rs.264.95 after the company declared its Q2FY21 results. The company’s net profit declined by 23.72% and stood at Rs. 27.82 crore during the quarter ended September’20.
Tata Consultancy Services Limited
Stocks of TCS Limited declined by 1.99% and traded at Rs. 2,634.80 after the company was selected as a strategic partner by Equinor. Equinor is a Norway-headquartered global energy company which aims at accelerating its digitalization journey by partnering with TCS Limited.
Ceat Limited
Stocks of Ceat Limited went up by 1.19% and traded at Rs. 1,142 after the company reported its Q2FY21 results. The company’s revenue increased by 17% and stood at Rs. 1978.5 crore while EBITDA rose by 71.7% to Rs. 292.5 crore.
Indian Rupee
The Indian rupee slipped earlier in today’s trading session and opened 10 paise lower at Rs. 73.95 against the U.S. Dollar amid volatile domestic equity markets.
Weaker Global Market Cues
The global markets traded weaker amid worries over the second wave of coronavirus. Other than FTSE 100, which rose by 0.08% all the major global indices ended in the red. NASDAQ declined by 1.64%, Nikkei 225 went down by 0.04%, while Hang Seng and FTSE MIB tripped down by 0.53% and 0.47% respectively.