The main equity barometers bounced off the day's low and hit the day's high in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 165.33 points or 0.42% at 39,779.40. The Nifty 50 index added 31.10 points or 0.27% at 11,673.50.
The trading was steeply volatile as investors braced themselves for the U.S. presidential election on Tuesday.
The broader market was mixed. The S&P BSE Mid-Cap index rose 0.37%. The S&P BSE Small-Cap index lost 0.60%.
Sellers outnumbered buyers. On the BSE, 1051 shares rose and 1490 shares fell. A total of 154 shares were unchanged.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 74.4250 compared with its previous closing 74.1050.
The yield on 10-year benchmark federal paper rose to 5.890% compared with its closing of 5.881% in the previous trading session.
MCX Gold futures for 4 December 2020 settlement advanced 0.06% to Rs 50,730.
In the commodities market, Brent crude for December 2020 settlement fell $1.32 to $36.62 a barrel. The contract had lost 0.5% or 19 cents to settle at 37.46 in the previous trading sessions.
Buzzing Index:
The Nifty Realty index surged 4.01% to 237.35. The index has gained 6.2% in two sessions.
Godrej Properties (up 10%), DLF (up 5.75%) and Sobha Developers (up 1.82%) edged higher while The Phoenix Mills (down 0.94%) and Prestige Estates (down 0.76%) edged lower.
Stocks in Spotlight:
Grasim Industries gained 0.82% to Rs 785.05. The company said it entered into a definitive agreement with Lubrizol Advanced Materials to manufacture and supply chlorinated polyvinyl chloride (CPVC) resin in India. The special type of polymer material that is widely used in hot and cold water pipes, will be manufactured at Chlor-alkali unit of Grasim located at Vilayat to take advantage of captive chlorine integration.
Just Dial tumbled 7.23% to Rs 605.30 after the company's net profit slumped 38.5% to Rs 47.3 crore on 30.94% fall in net sales to Rs 167.5 crore in Q2 FY21 over Q2 FY20. Operating EBITDA reported a fall of 33.5% to Rs 44.7 crore in Q2 FY21 from Rs 67.2 crore in Q2 FY20. Operating EBITDA margin was at 26.7% as on 30 September 2020 as against 27.7% as on 30 September 2019.
NMDC rose 2.12% to Rs 84.15. The company's board will consider a proposal to buyback shares of the company 10 November 2020.
The company's iron ore production declined 2.4% to 2.43 MT while iron ore sales fell 3.4% in 2.52 MT in October 2020 over October 2019.
Mayur Uniquoters added 1.98% to Rs 247.50 after the company said that its board will mull buyback on 10 November 2020.
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