HomeBusinessStock Market Updates (October 18,2021):Sensex Rallies Over 400 Points; Infosys, Tech Mahindra,...

Stock Market Updates (October 18,2021):Sensex Rallies Over 400 Points; Infosys, Tech Mahindra, Tata Steel Top Gainers

Sensex Rallies Over 400 Points; Infosys, Tech Mahindra, Tata Steel Top Gainers

In the steel area, Hindalco, JSW Steel and Tata Steel ended with beneficial properties of 3-5 per cent

The inventory markets hit recent all-time highs on Monday, persevering with with the momentum seen previously week, on the again of energy in choose steel and data shares. The BSE Sensex ended at 61,766, larger by 459 factors or 0.74 per cent and the NSE Nifty ended at 18,477, up 138 factors or 0.76 per cent. The broader markets additionally ended agency, with the BSE Midcap index gaining 0.9 per cent and the BSE smallcap index including 0.6 per cent.

On the stock-specific entrance, Infosys, Tata Steel and Tech Mahindra topped the gainers checklist on the BSE, with beneficial properties of 1-3 per cent every on the BSE. ICICI Bank, ITC and Maruti Suzuki have been the opposite important gainers within the BSE pack. Index heavyweight Reliance Industries ended the day at Rs 2705, up 0.22 per cent, after hitting a 52-week excessive of Rs 2744 earlier within the day. In the method, Reliance industries’ market cap surpassed Rs 18.50 lakh crore.

And shares of steel firms have been in focus, with the Nifty Metal index rising 4 per cent to a document excessive, resulting from an increase in base steel costs. Metal provide cuts are spreading from China to Europe as vitality shortages drive up the prices of electrical energy and pure fuel. In the steel area, Hindalco, JSW Steel and Tata Steel ended with beneficial properties of 3-5 per cent.

On the opposite hand, HCL Tech, M&M and Asian Paints have been the highest losers within the BSE pack.

Among shares that declared their outcomes over the weekend, HDFC Bank rose over 2 per cent to a document excessive in early buying and selling after reporting a 17.6 per cent bounce in September-quarter revenue over the weekend. On Saturday, HDFC Bank reported a internet revenue of Rs 8,834.3 crore the July-September quarter, a rise of 17.58 per cent from Rs 7,513.1 crore throughout the identical interval final yr. The shares nevertheless turned unfavourable to finish with losses of 0.8 per cent at Rs 1,670.

HCL Tech shares slipped greater than 2 per cent at Rs 1220 to prime the loser’s checklist on the BSE in an in any other case robust market in wake of its September quarter numbers. Post market hours on Thursday, HCL Tech reported a internet revenue of Rs 3,259 crore within the quarter ended September 30, in comparison with Rs 3,143 crore within the corresponding month final yr, marking a development of 4 per cent on a year-on-year foundation. The markets have been shut on Friday on account of the Dussehra competition.

The market breadth was robust. Out of three,624 shares traded on the BSE, there have been 1,822 aavancing shares as in opposition to 1,627 declines.

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