Stock Market Today: Nifty, Sensex Register Best Week In Over Three Months
The Nifty ended higher by 60.95 points or 0.27% at 22,464.80 while the Sensex gained 253.31 points or 0.34% to end at 73,917.03.
KEY HIGHLIGHTS
Rupee Strengthens Sharply Against U.S. Dollar
The local currency strengthened by 17 paise to close at 83.33 against the U.S dollar.
Intraday high of 83.33 is the highest in three weeks
It closed at 83.50 on Thursday.
Source: Bloomberg
Nifty, Sensex Register Best Week In Over Three Months: Closing Bell
Benchmark equity indices gained the most this week since week ended February 2. Today, they ended higher for the second consecutive session led by gains in M&M, RIL, and HDFC Bank.
On Saturday, the Indian stock exchanges will remain open and trade in a special session for the second time this year in a bid to switch over to a disaster recovery site.
The Nifty ended higher by 60.95 points or 0.27% at 22,464.80 while the Sensex gained 253.31 points or 0.34% to end at 73,917.03.
Jai Bala, founder of Cashthechaos said that as long as Nifty stays above 21,770 markets are safe. He added that its just a matter of time when the critical support of 21,770 breaks.
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Bala added that there will be a euphoric high in Nifty Bank towards 50,000 and then a reversal.
Mahindra & Mahindra Ltd., Reliance Industries Ltd., UltraTech Cement Ltd., Kotak Mahindra Bank Ltd., and ITC Ltd. contributed the most to the gains today.
While those of Tata Consultancy Services Ltd., Infosys Ltd., Hindustan Unilever Ltd., HCL Tech Ltd., and Cipla Ltd. weighed on the Nifty.
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Broader markets outperformed benchmark indices. The S&P BSE Midcap ended 1.18% higher, and the S&P BSE Smallcap settled 1.39% higher.
On BSE, 18 sectors advanced out of 20, and two declined. The S&P BSE Consumer Durables was the top performing sector, and the S&P BSE Healthcare was the worst performing sector.
Market breadth was skewed in favour of buyers. Around 2,403 stocks advance, 1,410 stocks declined, and 126 remained unchanged on BSE.
This week, all but Nifty FMCG ended higher. Nifty Realty and Nifty Metal gained over 6%.
On a weekly basis, the Nifty gained 1.86% and the Sensex rose 1.72%.
Saudi Food & Drug Authority Completes Inspection At Concord Biotech Unit
Saudi Food and Drug Authority completes inspection at Concrod Biotech Ltd.'s Gujarat unit.
Source: Exchange filing
GSK Pharma Q4 Earnings Key Highlights (Consolidated, YoY)
Revenue up 18.1% to Rs 930 crore from Rs 787 crore
Ebitda up 51.6% at Rs 257 crore from Rs 170 crore
Margin up 610 bps at 27.7% from 21.6%
Net profit up 45.7% at Rs 194 crore from Rs 133 crore
Board recommends dividend of Rs 32 per share
Poly Medicure Q4 Earnings Key Highlights (Consolidated, YoY)
Revenue up 23.2% to Rs 378 crore from Rs 307 crore
Ebitda up 16.1% at Rs 97 crore from Rs 83 crore
Margin down 210 bps at 25.6% from 27.1%
Net profit up 16.3% at Rs 68 crore from Rs 59 crore
