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By Aamar Deo Singh, Head Advisory, Angel Broking Ltd

Indian indices traded higher in today’s session at a seven-month high level led by banks and auto stocks.

Nifty went up by 1.38% or 159.05 points and closed above the 11,600 mark at 11,662.40, while S&P BSE Sensex rose by 1.54% or 600.87 points and closed at 39,574.57.

Around 1165 shares declined, 1488 shares advanced, while 159 shares remained unchanged.

Tata Motors (7.88%), HDFC (7.56%), Adani Port (3.45%), M&M (3.54%), and IndusInd Bank (3.37%) were among the top Nifty gainers. Whereas, Britannia (1.47%), Coal India (1.18%), Wipro (1.32%), Hindalco (1.34%), and Tata Steel (1.18%) were among top Nifty losers.

All sectoral indices except I.T., pharma, energy, and FMCG ended in the green. BSE Midcap rose by 0.59%, and BSE Smallcap went up by 0.55%.

IndusInd Bank Limited

Share prices of IndusInd Bank went up by 3.37% and traded at Rs. 621.85 after the bank reported provisional numbers for the second quarter of FY21. The bank’s deposits in the July-September quarter were up by 10% while the advances registered a 2% year-on-year growth.

Tata Motors Limited

Tata Motors global wholesales declined by 16% in the second quarter of FY21. The overall figure, including that of Jaguar Land Rover, stood at 2,02,873 units. Despite the decline, the company’s stocks traded higher by 7.88% at Rs.144.45 in today’s session.

Thyrocare Technologies Limited

Thyrocare Technologies conducted more than 4 Lakh COVID-19 RT-PCR Tests. The company’s revenue for the quarter ended 30 September 2020 increased by 37%, while the low revenue grew by 171% over the trailing quarter. The stocks of the company surged by 13.87% and traded at Rs.882.50.

Majesco Limited

The company’s board reported considering share buyback of fully paid-up equity shares of the company. The stocks of the company traded higher by 5.00% at Rs.860.45 in today’s trading session.

Sobha Ltd

Shares of Sobha Ltd traded higher by 9.84% at Rs.263.00 after the company reported strong sales for the quarter ended 30 September 2020. The company’s total sales volume stood at 891,700 square feet and valued Rs.690 crore. The total average realization was Rs. 7,737 per square feet.

Ramco Systems Limited

Ramco Logistics ERP has been chosen by Toll Logistics to transform its Chemical business division’s supply chain operations in Australia and New Zealand. The stocks of the company rose by 4.99% and traded at Rs. 491.30.

Indian Rupee

Indian rupee ended lower at Rs.73.46 against the U.S. for the second consecutive day despite gains in the domestic equity markets.

Global Market Trades Positive

Global indices ended in the green as investors viewed more fiscal stimulus after the speedy recovery of the U.S. President Donald Trump. Nasdaq went up by 2.32%, FTSE 100 rose by 0.08%, FTSE MIB rose by 0.51%, Nikkei 225 surged by 0.52%, and Hang Seng went up by 0.90%.

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