Tuesday Market Update: Sensex climbs 500 points supported by Banks & Fin service Shares

Share Markets at a Glance:

In-line with its Asian peers, Indian share markets showed a positive movement primarily supported by better-than-expected Q2 results of banks and Financial services stocks. Nifty went up 144.35 points and closed above 11800 level, while Sensex touched 40261 by gaining more than 500 points.

Sector-wise, only Nifty Realty and Media sector stocks ended in red, while all others were in positive. In broader markets, Mid-cap and small-cap underperform benchmark index. India VIX also reduced by 3.84% to 24.24 level.

Top Gainers/Losers:

ICICI Bank, Hindalco, SBI, PowerGrid and HDFC were among the top winners in today’s share market session. On the other hand, UPL, NTPC, Reliance, Nestle India and Hindustan Unilever took the most beatings today.

DII/FII Data of today’s share market:

DIIs stick to their sell-off strategy and divested Rs.1100.92 crore, while FIIs invested Rs.2274.4 crore.

Sun Pharma Q2 Numbers: net profit jumps over 70%:

Drug producer, Sun Pharma reported Q2 net profit of Rs.1812.79 crore which is 70.4% higher than last year’s corresponding quarter profit of Rs.1064.09 crore. Its revenue from operations also rose by 5.29% to Rs.8553.19 crore.

Company reported exceptional tax gain of Rs.288.28 crore for the quarter. Ahead of its earnings, share price of Sun Pharma went up by 3.85% to Rs.487.45.

Dabur India Net Profit up by 20% during Q2:

Riding over the demand of immunity boosters and health products, Dabur India’s sales volume increased by 16.8% YoY in domestic FMCG business. Company’s net profit increased by 20% to Rs.482.86 crore. Sales of its flagship Chywanprash product grew more than two times in September quarter.

FMCG major also declared an interim dividend of Rs.1.75 per share. Ahead of Q2 results, share price of company grew by 2.28% to Rs.517.8.

Quick Bytes of Share Market:

• All eyes set for outcome of US elections tomorrow.
• RBI increases trading hours for rupee and bond market, they will close at 3.30 pm instead of 2 pm.
• Competition Commission of India (CCI) granted approval to acquisition of non-life insurance business of Bharti AXA General Insurance company by ICICI Lombard.
• Tata Motors’ domestic sales rose by 27% to 49669 units.
• Service sector PMI data for October month will be released tomorrow by HIS Markit.
• Q2 Results Today: Sun Pharmaceutical Industries, Adani Gas, Adani Ports, Ajanta Pharma, CARE Ratings, Dabur India, Deepak Fertilisers, Dhanlaxmi Bank, Eris Lifesciences, Godrej Properties, Jagran Prakashan, JSW Energy, Kansai Nerolac Paints, Muthoot Finance, PVR, Ramco Systems, Transport Corporation of India and Varun Beverages

Disclaimer: This information is only for educational purposes. Please consult your own financial advisor before investing.

You can check our daily analysis of stock markets by clicking here.

–@|<