By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian indices ended higher for the sixth consecutive day led by I.T. and pharma stocks in today’s trading session.
Nifty rose by 0.82% or 95.75 points and closed above the 11,800-mark at 11,834.60, while S&P BSE Sensex gained over 303.72 points or 0.76% and closed at 40,182.67.
Around 1215 shares advanced, 1419 shares declined, whereas 159 shares remained unchanged.
Wipro (7.34%), Cipla (4.98%), TCS (3.02%), UltraTech Cement (3.01%), and Infosys (2.62%) were among the top Nifty gainers, while GAIL (3.11%), ONGC (2.77%), ITC (1.42%), Eicher Motors (1.34%), and L&T (0.88%) remained among the top Nifty losers.
Among sectors, I.T., pharma, and banking stocks ended in the green, whereas selling was witnessed in energy and FMCG stocks. BSE Midcap went up by 0.36% while BSE Smallcap declined by 0.21%.
ABB Power Products and Systems India Ltd
ABB Power bagged a project worth more than Rs. 100 crore from HPCL Rajasthan Refinery. HPCL Rajasthan Refinery is a joint venture between Hindustan Petroleum Corporation Limited and Rajasthan Government. Despite the order, the share prices of the company declined by 4.04% and traded at Rs. 935.00.
Stocks of I.T. giant Wipro Limited surged by 7.34% and traded at Rs. 359.90 after the firm reported that the board will consider a buyback plan on October 13. The announcement was made after the firm’s rival TCS’ board cleared a buyback plan of Rs.16,000 crore.
Tata Consultancy Services Limited
TCS reported a Profit after Tax (PAT) of Rs. 7475 crore for the quarter ending September’20 and registered a sequential growth of 6.7%. The company’s consolidated revenue from operations grew by 4.7%. The total contract value for the quarter stood at $8.6 billion. The share prices of the company surged by 3.02% and traded at Rs. 2,818.45.
Cadila Healthcare Ltd.
Stocks of Cadila Healthcare went up by 5.45% and traded at Rs. 435.35 after the company launched India’s first pressurized Metered Dose Inhaler. The inhaler is introduced for patients suffering from chronic obstructive pulmonary disease.
GM Breweries Ltd.
Shares of GM Breweries tripped down by 4.83% and traded at Rs. 384.00 after the company reported a 43.5% year-on-year fall in its net profit, whereas the firm’s revenue declined by 40% to Rs. 72.6 crore.
Indian rupee ended higher for the second consecutive day at Rs. 73.24 against the U.S. Dollar amid buying in the domestic equity markets and a weaker Dollar.
Global Markets trade positive
Hopes over at least a partial deal on additional U.S. fiscal stimulus supported the U.S. market. U.S. stocks along with the European stocks ended in the green in today’s session. All major indices ended higher except Hang Seng which declined by 0.20%. Nasdaq went up by 1.88%, Nikkei 225 rose by 0.96%, while FTSE 100 and FTSE MIB went up by 0.49% and 0.67% respectively.