Indices trade firm; breadth negative
Published on Oct 19, 2021 13:36
The benchmark indices continued trading firm in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, jumped 465.05 points or 0.75% at 62,230.64. The Nifty 50 index gained 94.95 points or 0.51% at 18,572.
The Sensex hit a record high of 62,245.43 while the Nifty hit an all-time high of 18,604.45 in morning trade.
Infosys (up 2%), Reliance Industries (RIL) (up 1.34%) and Larsen & Toubro (L&T) (up 5.04%) boosted the indices.
In the broader market, the S&P BSE Mid-Cap index rose 0.04%. The S&P BSE Small-Cap index gained 0.27%.
Sellers outnumbered buyers. On the BSE, 1,393 shares rose and 1,903 shares fell. A total of 130 shares were unchanged.
Gainers & Losers:
Tech Mahindra (up 5.16%), Larsen & Toubro (L&T) (up 5.04%), Bajaj Finserv (up 2.71%), Infosys (up 2%) and Tata Consumer Products (up 1.50%) were major gainers in Nifty 50 index.
ITC (down 4.95%), Eicher Motors (down 3.06%), Ultratech Cement Co. (down 2.02%), Divi`s Laboratories (down 1.96%) and Titan Company (down 1.95%) were major losers in Nifty 50 index.
Nifty Results Today:
Nestle India (up 0.56%) and Hindustan Unilever (HUL) (up 1.44%) will announce their quarterly results today.
Larsen & Toubro Infotech (LTI) soared 15.71%. The company reported 11.1% increase in consolidated profit to Rs 551.70 crore on 8.8% rise in revenue to Rs 3767 crore in Q2 FY22 over Q1 FY22.
Tata Coffee surged 5.04%. The company`s consolidated net profit jumped 26.55% to Rs 53.66 crore on a 0.56% increase in revenue from operations to Rs 546.52 crore in Q2 FY22 over Q2 FY21.
European stocks were mixed while most Asian stocks advanced on Tuesday. Investors mulled corporate earnings as well as the prospect of tightening monetary policy to restrain inflation.
Minutes from the Reserve Bank of Australia`s October monetary policy meeting showed the RBA expecting the Australian economy to "return to growth in the December quarter and to its pre-Delta path in the second half of 2022."
In US, the S&P and Nasdaq closed higher on Monday with the biggest boosts from the highest-profile technology and communications companies while investors eyed product news from Apple Inc and appeared optimistic about the third-quarter earnings season.
U.S. industrial production declined in September as supply constraints continued to hinder manufacturing. Output fell almost 1.28% to its lowest level since February, when it fell 3.02%, according to data released Monday by the Federal Reserve.
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