The equity barometers further extended gains and hit fresh intraday high in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 384.60 points or 0.99% at 39,358.30. The Nifty 50 index gained 102.80 points or 0.89% at 11,606.15.
The broader market underperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.41%. The S&P BSE Small-Cap index gained 0.44%.
Buyers outnumbered sellers. On the BSE, 1,428 shares rose and 1,036 shares fell. A total of 157 shares were unchanged. In Nifty 50 index, 32 stocks advanced while 18 stocks declined.
Foreign portfolio investors (FPIs) bought shares worth Rs 236.71 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 471.56 crore in the Indian equity market on 5 October 2020, provisional data showed.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 73.46 compared with its previous closing 73.29.
The yield on 10-year benchmark federal paper rose to 6.033% compared with previous closing of 6.004% in the previous trading session.
MCX Gold futures for 5 October 2020 settlement rose 0.14% to Rs 50,698.
In the commodities market, Brent crude for December 2020 settlement rose 22 cents to $41.51 a barrel. The contract jumped 5.14% to settle at $41.29 in the previous trading session.
Buzzing Index:
The Nifty Realty index rose 2.24% to 221.10. The index has added 4.34% in three sessions.
Godrej Properties (up 4.37%), Oberoi Realty (up 2.51%), Brigade Enterprises (up 2.65%), Prestige Estates (up 1.57%) and DLF (up 1.51%) advanced.
Sobha surged 10.68% to Rs 264.70. The Bengaluru-based realty developer said it achieved a total sales volume of 891,700 square feet valued at Rs 690 crore, with a total average realization of Rs 7,737 per square feet during Q2 September 2020. The company said its dependency on Bengaluru sales volume has reduced from 74% during Q1 June 2020 to 60% during Q2 September 2020.
Sales volume, total sales value and Sobha share of sales value during Q2 September 2020 were up by 37%, 41%, 35% respectively compared with Q1 June 2020. The company said its price realization of Rs 7,737 per square feet achieved during Q2 September 2020 is the highest price realization achieved by the company as compared to past five quarters. The total average price realization was Rs 7,498 per square feet in Q1 June 2020 and Rs 6,584 per square feet in Q2 September 2019.
Stocks in Spotlight:
Thyrocare Technologies surged 16.16% to Rs 894.60 after the company said that the aggregate revenue in Q2 September 2020 increased by about 37% compared to Q2 September 2019. "The low revenue in Q1 of FY21 has bounced back in Q2 of FY21 with a very healthy growth of 171% trailing quarter, the company said.
Anticipating more workloads in quarters to come, Thyrocare is also creating facilities with COVID testing facilities in Bangalore and Kolkata as well, to meet demand that may arise due to prolonged pandemic. With non COVID tests coming back to track, the company anticipates a need for more capacity and facilities.
Lupin fell 1.10% to Rs 1027.30. The drug major received approval for its dimethyl fumarate delayed-release capsules, 120 mg and 240 mg, from the US drug regulator. Lupin's dimethyl fumarate delayed-release capsules are a generic equivalent of Tecfidera delayed-release capsules of Biogen Inc. The drug is indicated for the treatment of patients with relapsing forms of multiple sclerosis, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults. Dimethyl fumarate delayed-release capsules had an annual sales of approximately $3788 million in the US.
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