Nifty begins Samvat 2075 on a strong note, Sensex ends 245 points higher; Infosys, MM gain big

November 07
20:06 2018

Equity benchmarks began the Samvat 2075 on a strong note, with the Nifty ending just below 10,600, while the Sensex closed 245 points higher. Strong buying was visible among midcaps space as well as the Nifty Midcap index ended the session around a percent higher.

Traders looked to bet across the sectors as all the sectors on Sensex and the Nifty ended in the green. Automobile, banks, consumption, IT and metals were the top gainers.

It was just short of a photo finish on the Nifty as just two stocks on the Nifty ended in the red — Axis Bank and Zee Entertainment. The selling in these two names also happened in the last few minutes of trade, in an otherwise positive session.

The new Samvat began on a good note, as benchmarks opened a percent higher. Global cues were favourable for the market, while it chose to shrug off crude inching up to $ 73 per barrel. They traded marginally off high points for a brief period, but buying was back on the indices in the last half an hour of trade.

At the close of market hours, the Sensex ended up 245.77 points or 0.70% at 35237.68, while the Nifty closed higher by 68.40 points or 0.65% at 10598.40. The market breadth was positive as 1,925 shares advanced, against a decline of 439 shares, while 130 shares were unchanged.

Shares of M&M, Infosys, and HPCL were the top gainers, while Axis Bank, Bharti Airtel, and Zee Entertainment lost the most.

Stocks in News

Manappuram Finance ended the Muhurat trading day 5 percent higher on the back of equity infusion in its subsidiary companies.

Shares of oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum ended 1-2 percent higher on even as crude oil prices were trading around $ 73 per barrel.

Meanwhile, maximum buying was visible among auto stocks, with gains of 1-2 percent seen among Tata Motors and Mahindra & Mahindra.

Shares of Voltas ended over 1.5 percent higher as investors turned wary of fall in room AC business operating margins. The profit for September quarter rose 12 percent year on year.

That’s a wrap on the closing report on equity markets. Here’s wishing all our readers a very Happy Diwali and a prosperous year ahead.

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