Banks, financials lift stock markets higher; Nifty 50 ends at 11,762 (0.7% up) 82 points
The Sensex rose by 0.64% or 254.57 points to 39,982. The Nifty 50 surged by 0.70% or 82.10 points to 11,762.45.
After yesterday's fall, Indian stock market ended today's session on a higher note. Indian stock markets ended higher on October 16, backed by heavy buying in banking and financial stocks, revealed a Sharekhan report. The Sensex rose by 0.64% or 254.57 points to 39,982. The Nifty 50 surged by 0.70% or 82.10 points to 11,762.45.
In the broader market, the S&P BSE MidCap index gained 1.05% or 152.43 to 14,621.31 while the S&P BSE SmallCap index was up by 0.97% or 142.61 points to 14,786.56.
• Passenger vehicle sales increase 26.5% and two-wheeler sales 11.6% year-on-years
• HCL Technologies Q2 net profit up by 7.4% to Rs. 3,142 crore
• Cyient Q2 Consolidated net profit rose by 3% QoQ to Rs. 83.9 crore
• Mindtree Q2 net profit jumped by 88% YoY to Rs. 254 crore
• Indiabulls Housing Finance sold part stake worth Rs. 220 crore in OakNorth Holdings
• Federal Bank Q2 net profit down by 26.2% YoY to Rs. 307.6 crore
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Following are the stocks/sectors which were in news today:-
• UPL slumped by 7.77% to Rs. 467.10, after KPMG resigned as the auditor with effect from 8 October 2020 for the company's material arm in Mauritius, UPL Corporation.
• Shakti Pumps rose by 2.15% to Rs. 238.05, after the company posted a consolidated net profit of Rs. 15.24 crore in Q2 September 2020 compared with net loss of Rs. 1.70 crore in the same period last year.
(Authored by Rahul Kamdar)
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