Stock Market Today: Sensex, Nifty End Higher For A Second Day As SBI Leads Recovery
The Nifty ended at 21,850.05, up 106.80 points or 0.49% and the Sensex gained 277.98 points or 0.39% to close at 71,833.17.
KEY HIGHLIGHTS
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.11% on Wednesday.
Source: Bloomberg
Rupee Weakens Against U.S. Dollar
-The local currency weakened by 2 paise to settle at 83.03 against the U.S. Dollar.
-It closed at 83.01 on Tuesday.
Source: Cogencis
Sensex, Nifty End Higher For A Second Day As SBI Leads Recovery: Closing Bell
Benchmark equity indices erased their losses and ended higher in the second consecutive session today on the back of gains in the shares of SBI, which hit their highest ever level.
The Nifty ended at 21,850.05, up 106.80 points or 0.49% and the Sensex gained 277.98 points or 0.39% to close at 71,833.17. Intraday, the Nifty fell 0.98% and the Sensex fell 1.04%.
On daily charts, it has formed long bullish candle, which is largely positive. We are of the view that, the current market texture is non-directional hence level based trading would be the ideal strategy for the day traders, said Shrikant Chouhan, head of equity research at Kotak Securities.
Shares of State Bank of India, Reliance Industries Ltd., Axis Bank Ltd., ITC Ltd., and Bharat Petroleum Corp. Ltd., contributed the most to the gains.
Whereas, those of HDFC Bank Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Sun Pharmaceutical Industries Ltd., and Tech Mahindra Ltd., capped the upside.
Most sectoral indices closed higher except Nifty Pharma and Nifty IT. Nifty PSU Bank and Nifty Oil & Gas jumped over 3%.
Market breadth was skewed in favour of buyers. Around 2,426 stocks rose, 1,425 stocks declined, and 87 remained unchanged on BSE.
On BSE, 17 out of 20 sectors gained, while three fell. The S&P BSE Energy rose the most among sectoral indices, while the S&P BSE IT index fell the most.
Broader markets ended higher on BSE. The S&P BSE Midcap rose 1.39%, and the S&P BSE Smallcap rose 1.24%.
Axis Bank Has 10.1 Lakh Shares Change Hands In A Large Trade
10.1 lakh shares changed hands in a large trade
0.03% equity changed hands at Rs 1,094.65 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Suprajit Engineering Q3 FY24 Results Highlights (YoY, Consolidated)
Revenue at Rs 724.2 crore vs Rs 690.1 crore, up 4.94%
EBITDA at Rs 87.33 crore vs Rs 78.9 crore, up 10.68%
Margin at 12.05% vs 11.43%
Net profit at Rs 40.25 crore vs Rs 38.04 crore, up 5.8%
