Samvat 2073: Sensex up 16.6%; investors richer by Rs 25 L cr
Stock markets ended on a flat note
today, just below their record highs, but finished Samvat 2073
with robust gains of over 16 per cent, adding over Rs 25 lakh
crore to investors' wealth.
The benchmark Sensex has gained 4,642.84 points, or 16.61
per cent, in the Hindu Samvat year 2073, while the broader NSE
Nifty surged 1,572.85 points, or 18.20 per cent during this
In today's session, the 50-share Nifty fell by 23.60
points or 0.23 per cent to close at 10,210.85 after moving
between 10,175.75 and 10,236.45.
The Sensex resumed lower at 32,518.56 and fell further to
a low of 32,462.85 before ending at 32,584.35, down 24.81
points or 0.08 per cent.
Investors adopted a cautious approach ahead of the long
Diwali weekend, while a weak rupee too affected sentiment,
The BSE and NSE will conduct a special Muhurat trading
session tomorrow between 1830 hrs and 1930 hrs on the occasion
The bourses will remain closed on Friday for 'Diwali
"NPA divergences have continued to be a strong theme in
banks' results, putting the banking stocks under pressure, but
market remains expectant of more GST related positivity in the
coming days," said Anand James, Chief Market Strategist,
Geojit Financial Services.
Axis Bank emerged as the worst performer among Sensex
components, tumbling 9.52 per cent following a spike in bad
loans in the September quarter.
The private sector lender yesterday reported a nearly 36
per cent increase in net profit at Rs 432 crore in the second
quarter ended September, but reported a rise in bad loans.
Other laggards included ICICI Bank, Cipla, SBI, Lupin,
Sun Pharma, Asian Paints, Hindustan Unilever, Bajaj Auto, Hero
MotoCorp, Maruti Suzuki, Infosys, Bharti Airtel, L&T and Tata
Steel, falling by up to 3.96 per cent.
Reliance Industries topped the gainers list by surging
4.52 per cent, while Wipro rose 1.92 per cent after the
company yesterday reported a 5.8 per cent rise in net profit
for three months to September.
Among the sectoral indices, telecom fell 1.86 per cent,
followed by bankex 1.79 per cent, healthcare 0.80 per cent,
teck 0.67 per cent, consumer durables 0.57 per cent, metal
0.51 per cent, auto 0.41 per cent and IT 0.35 per cent.
The broader markets depicted a mixed trend, with the
small-cap index falling 0.02 per cent, while the mid-cap rose
0.01 per cent.
Foreign portfolio investors (FPIs) sold shares worth a
net Rs 484.92 crore yesterday, as per provisional data
released by the stock exchanges.
Domestic institutional investors (DIIs) bought shares
worth a net Rs 809.03 crore.
Overseas, European shares edged higher as investors
monitored the latest batch of earnings and economic data
Most Asian stocks edged lower as investors in the
region looked to China's Communist Party Congress for signs on
future policy direction of the world's second-largest economy.