Indices end at record high for 2nd day, Sensex gains 680 pts, tops 43K

All that happened in the markets today.

4:04 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

"The global financial markets experienced a wave of euphoria over the potential breakthrough in coronavirus vaccine development. Indian indices moved in sync with global peers touching fresh highs with continued support from banking stocks while IT and Pharma sectors witnessed heavy sell-offs. An uptick in beaten-down stocks and sectors were visible today viewing hopes of recovery in the business. The existing momentum can sustain on vaccine development, the domestic stimulus package, consistent FII inflows, and bounce in globalisation post the Biden victory. However, temporary correction due to profit-booking cannot be ruled out because the market is highly optimistic that the vaccine development will rapidly improve the ground reality."  

3:43 PM

SECTOR WATCH | Nifty IT and Nifty Pharma end in the red

3:42 PM

MARKET AT CLOSE | Gainers and losers on S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex rallied 68 points, or 1.6 per cent to end at 43,278 levels while NSE's Nifty ended at 12,631, up 170 points, or 1.36 per cent. 

3:27 PM

MARKET CHECK

3:19 PM

M&M Q2 net plunges 88% to Rs 162 cr on sharp contraction in auto segment

Net profit at Mahindra and Mahindra plunged 88 per cent in the quarter ended September 30, from the corresponding period, as a sharp contraction in the automotive segment weighed on the earnings, Mahindra and Mahindra said in a stock exchange notification. READ MORE 

3:10 PM

YES Bank hits 5% upper circuit as CARE upgrades debt instrument rating

Shares of YES Bank were locked in 5 per cent upper circuit for second straight day at Rs 13.54 on the BSE on Tuesday after rating agency CARE upgraded the ratings, with stable outlook, assigned to the bank's debt instruments on the back of heavy volumes. Till 02:48 pm, a combined 88 million shares had changed hands and there were pending buy orders for around 47 million shares on the NSE and BSE, exchanges' data show. In comparison, the S&P BSE Sensex was up 1.4 per cent at 43,191 points. READ MORE

2:58 PM

Sensex trades over 600 pts higher

2:54 PM

Gold ETFs post seventh straight month of inflows in October

Gold ETFs saw inflows for the seventh straight month in October, taking total flows this year to Rs 6,341 crore. Flows in October moderated to Rs 384 crore from Rs 597 crore seen in previous month. According to experts, gold functions as a strategic asset in an investor’s portfolio, given its ability to act as an effective diversifier, and alleviate losses during tough market conditions and economic downturns. READ MORE

2:48 PM

BUZZING STOCK | UBL trades over 9% higher

2:40 PM

Larsen & Toubro shares advance 6%, hit over seven-month high

In the past four trading days, the stock has risen 9 per cent after L&T said the ordering activity in Infra relatively strong despite pandemic concerns, power generation and hydrocarbon muted. The company saw sequential improvement in ordering momentum in infrastructure segment in September quarter (Q2FY21); encouraging prospect pipeline. The execution picks up in Q2 on the back of higher work force availability and supply chain normalization, it said. READ MORE 

2:34 PM

Azim Premji tops EdelGive Hurun India Philanthropy list 2020

Azim Premji, the 75-year-old former chairman of Wipro has been the most generous philanthropist in India for 2020 with a donation of Rs 7,904 crore, as per EdelGive Hurun India Philanthropy List 2020 unveiled Tuesday. READ MORE 

2:27 PM

European indices mixed in early deals

2:16 PM

Oaktree revises its bid for DHFL upwards, now offers Rs 33,000 cr

In its earlier bid, Oaktree had offered to pay Rs 15,800 crore for the entire company, payable after seven years. The new offer will also include deferred payments linked to the milestones achieved by the company. Unlike other bidders – Piramal Enterprises, Adani group and SC Lowy, Oaktree has offered to take over the entire company while the others have bid only for particular assets. READ MORE

2:05 PM

Sept Quarter Result | GAIL clocks profit of Rs 1,240 crore

>> Revenue at Rs13,644 crore

>> EBITDA at Rs 1,338.2 crore

2:00 PM

BSE Midcap index underperforms Sensex

1:53 PM

European Union announces new tariffs as countermeasures against US exports

The European Union (EU) has put in place countermeasures against the US exports by slapping tariffs on American products worth $4 billion, the European Commission said in an official statement.

 

The measures will take effect on Tuesday, Xinhua news agency quoted European Commission Executive Vice-President Valdis Dombrovskis as saying at a press conference here on Monday. READ MORE

1:52 PM

MARKET CHECK

1:41 PM

Sept Quarter Result | Hindalco reports profit of Rs 198 crore vs Rs 78 crore YoY

1:34 PM

HDFC regains Rs 4 trillion m-cap; stock surges 6%, hits over 8-month high

Housing Development Finance Corporation (HDFC) regained the Rs 4 trillion-market capitalisation after the stock of the housing finance company rallied 6 per cent, hitting an over eight-month high of Rs 2,285 on the BSE on Tuesday. It was trading at its highest level since February 27, 2020. It had hit a 52-week high of Rs 2,500 on January 14, 2020. READ MORE 

1:26 PM

Covid-19 vaccine :: China vaccine trial halted in Brazil

The final-stage trial of a Chinese frontrunner vaccine candidate has been halted in Brazil due to a serious adverse event, the first time that any of the Asian nation’s rapidly developed Covid-19 shots have met with such a setback.

 

Testing of Sinovac Biotech Ltd.’s vaccine, called Coronavac, has been halted in Brazil after an event that occurred on Oct. 29, said the Brazil Health Agency on Tuesday, without giving any further detail on what happened. The study is interrupted in accordance with regulations while the agency analyses if the study should continue, it said. READ MORE

1:16 PM

Bihar Election Results :: Counting to continue till late evening, says Bihar chief electoral officer

1:13 PM

Sept Quarter Result | M&M reports profit of Rs 162 crore

>> Revenue at Rs 11,590 crore

>> EBITDA at Rs 2,057 crore

>> EBITDA margin at 17.7%

1:05 PM

BUZZING STOCK | IndusInd Bank climbs 10%

12:57 PM

Caution prevails over loan to parent despite Vedanta's strong Q2 show

The Street has become increasingly cautious about high promoter debt and Vedanta's inter-corporate lending. Despite being positive on Vedanta's near-term earnings outlook, analysts have lowered their target prices. Inter-corporate deposits (ICDs given to parent Vedanta Resources) and near-term debt repayments keep analysts at PhillipCapital cautious about the stock. They have discounted the oil and gas business cash-flow entirely on the risks of further ICD support, and have lowered their target price to Rs 126, from Rs 150. READ MORE

12:56 PM

ALERT :: Nifty tops 12,600 for the first time

12:45 PM

ALERT :: Sensex at day's high

12:35 PM

Ashok Leyland hits 52-wk high on demand recovery hope; stk up 73% in 3 mths

Shares of Ashok Leyland hit a 52-week high of Rs 89.45, surging 6 per cent on the BSE on Tuesday, on expectation that the domestic truck and light commercial vehicle (LCV) sector recovery may continue to gather pace over the second half (October-March) of the current fiscal. The stock of the commercial vehicle company has outperformed the market in the past three months by surging 73 per cent, as against 13 per cent rise in the S&P BSE Sensex. READ MORE

12:34 PM

BUZZING STOCK | Lemon Tree Hotels zooms 10%

12:26 PM

Voltas impresses street, scores over peers with strong show in Sept quarter

Voltas’ strength in the retail room AC segment continues to help in the current environment. Blue Star, though a formidable player, however, has a higher component of commercial sales (offices, projects and others). It is seeing recovery, however, and expects the momentum to continue in the upcoming festive season. It expects the market to reach 100 per cent of last year’s level by December. While Blue Star has maintained market share in room ACs at 12.7 per cent in Q2'FY21, analysts at Anand Rathi say the company’s ability to expand its market share is the key monitorable in FY21. READ MORE