Sensex soars 1100 pts; Nifty crosses 16,150 mark

Benchmarks equity indices extended initial gains and surged in morning trade. All the sectoral indices on the NSE traded in the green with metal, realty and auto shares gaining the most. The Nifty traded a tad above the 16,150 level.

At 10:23 IST, the barometer index, S&P BSE Sensex surged 1,104.21 points or 2.09% at 53,896.44. The Nifty 50 index gained 350.20 points or 2.22% at 16,159.60.

In the broader market, the S&P BSE Mid-Cap index rose 1.73% while the S&P BSE Small-Cap index gained 1.75%.

The market breadth was weak. On the BSE, 2,463 shares rose while 547 shares fell. A total of 112 shares were unchanged.

Results Today:

NTPC (up 1.55%), Indigo Paints (up 0.75%), Thermax (up 1.28%), IDFC (up 2.08%), Sobha (up 1.92%), Pfizer (up 1.05%), Nuvoco Vistas Corporation (up 3.15%), Metro Brands (up 1.45%), C.E. Info Systems (up 2.29%), Indiabulls Housing Finance (up 2.02%), JK Tyres and Industries (up 0.88%), Hindustan Foods (up 4.24%), Heidelberg Cement (up 1.21%), Amara Raja Batteries (up 1.68%), ZF Commercial Vehicle Control Systems (up 0.49%), Advanced Enzyme Technologies (up 1.11%) will announce their results today.

Buzzing Index :

The Nifty Metal Index was rose 3.42% to 5,663.30, snapping its two days losing streak. The index lost 4.38% in two days.

Among the components of the Nifty Metal index, Welspun Corp Ltd (up 6.87%), Hindustan Copper Ltd (up 6.71%), Vedanta Ltd (up 4.6%), JSW Steel Ltd (up 4.43%) and Jindal Stainless (Hisar) Ltd (up 3.81%) were the top gainers.

Stocks in Spotlight:

Ashok Leyland rallied 4.48% to Rs 128.40 after the company reported a sharply higher standalone net profit of Rs 901.37 crore in Q4 FY22 as compared to Rs 241.17 crore posted in Q4 FY21. Standalone revenue from operations stood at Rs 8744.29crore for the quarter ended 31 March 2022 as against Rs 7,000.49 crore during the same period in the previous year, registering a growth of nearly 25%.

Surya Roshni surged 14.10% to Rs 434.15 after the company's consolidated net profit rose 41.46% to Rs 82.81 crore on 33.66% increase in net sales to Rs 2,301.38 crore in Q4 March 2022 over Q4 March 2021. Net profit grew due to reduced finance costs and a healthy product mix of value-added products. On a consolidated basis, finance cost reduced 3.90% year-on-year (YoY) to Rs 15.05 crore in Q4 FY22.

Godrej Consumer Products (GCPL) tumbled 3.11% to Rs 770.60 after the company reported a consolidated net profit of Rs 363.24 crore in Q4 FY22, which is lower by 0.7% as compared with Rs 365.84 crore recorded in Q4 FY21. Revenue from operations rose 7% to Rs 2,894.15 crore in Q4FY22 over Q4FY21.

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