No stopping this bull run! Sensex, Nifty settle at fresh highs
In late trade indices were off day's high, the Sensex closed at 51,348 up 617 points or 1.22% and the Nifty was up 191 points or 1.28% to end at 15,115.
The record-setting spree of Indian equities continued for the sixth consecutive day as benchmark indices Sensex and Nifty closed at fresh highs.
Sensex hit a fresh lifetime high of 51,523 after gaining over 750 points. The Nifty50 index also surpassed the 15,150 level & made an intraday high of 15,159.
In late trade indices were off day’s high, the Sensex closed at 51,348 up 617 points or 1.22% and the Nifty was up 191 points or 1.28% to end at 15,115.
M&M, Bajaj Finserv, Bharti Airtel, Powergrid and Infosys were among the top gainers, while HUL, Kotak Mahindra Bank, Bajaj Finance, ITC & Bajaj Auto remained top laggards on the Sensex.
Barring the Nifty FMCG index and the Nifty PSU Bank index, all sectoral indices ended the day in the green on NSE. Nifty Auto & Metal each gained over 3%.
Buyers outpaced sellers. On the BSE, 1729 shares rose and 1306 shares fell. A total of 192 shares were unchanged.
According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities remained in the grip of bulls with benchmark indices extending gains for the sixth consecutive day.
“Improved prospects of sustained economic recovery on the backdrop of sharp increase in capital expenditures and bold reform measures have emboldened investors. While global equities remained favourable today, benchmark index Nifty and Sensex recorded fresh all-time highs,” he said.
Earnings Impact:
Britannia Industries fell 1.84% to Rs 3476. On a consolidated basis, Britannia reported 22.3% rise in net profit to Rs 455.75 crore on 5.8% increase in net sales to Rs 3106.10 crore in Q3 FY21 over Q3 FY20.
Punjab National Bank (PNB) dropped 5.24% to Rs 38. The public sector bank posted a net profit of Rs 506.03 crore in Q3 FY21 compared with net loss of Rs 492.28 crore in Q3 FY20. The bank’s total income grew by 45.9% to Rs 23,298.53 crore in Q3 FY21 as against Rs 15,967.49 crore in Q3 FY20. Net Interest Income (NII) for Q3 FY21 grew by 28% to Rs 8,313 crore in Q3 FY21 over Q3 FY20. Global Net interest margin improved to 3.09% in Q3 FY21 from 2.49% in Q3 FY20.
Mrs. Bectors Food Specialities shed 0.17% to Rs 410.25. The company reported an 85.4% jump in consolidated net profit to Rs 20.67 crore on 11.1% rise in net sales to Rs 225.75 crore in Q3 FY21 over Q3 FY20. EBITDA margin improved to 17.6% in Q3 FY21 from 14% in Q3 FY20.
Narayana Hrudayalaya fell 2.98% to Rs 493.55. On a consolidated basis, the company’s net profit jumped 30% to Rs 40.84 crore on a 4.4% decline in net sales at Rs 750.36 crore in Q3 December 2020 over Q3 December 2019. As on 31 December 2020, the consolidated net debt was Rs 532.60 crore representing a net debt to equity ratio of 0.51 (out of which, debt worth $42.7 million is foreign currency-denominated).
Pfizer lost 0.41% to Rs 4497.90. The drug company’s net profit rose 1.6% to Rs 141.24 crore in Q3 FY21 from Rs 139.06 crore recorded in Q3 FY20. The drug major’s net sales grew by 10.3% to Rs 593.49 crore in Q3 FY21 from Rs 538.18 crore in Q3 FY20.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with significant gains, while Seoul was in the red.
Stock exchanges in Europe were trading on a positive note in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.76% higher at USD 60.01 per barrel.
(With inputs from PTI.)
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