The benchmark indices closed over a four-month high on February 06. The Sensex hit 37000 for the first time since September 21, 2018 in intra-day trade. Markets maintained their uptrend throughout the day and ended on a strong note. Majority of the sectors were under the buyers’ radar except consumer durables and power. The major heavyweight gainers were Reliance Industries, ICICI Bank, Tata Consultancy Services, Infosys, HDFC, ITC and Bajaj Finance. The Sensex jumped by 0.98% or 358.42 points to 36975.23. The Nifty surged by 1.17% or 128.10 points to 11,062.45.
Indian stock markets ended on a flat note on February 05, where both the indices closed with minor gains. Buying was seen in blue-chip companies such as Reliance Industries, Hindustan Unilever whereas stock such as ITC and ICICI Bank were under pressure. The Sensex was rose by 34.07 points or 0.09% to 36616.81. The Nifty increased by 22.10 points or 0.20% to 10934.35.
1. January Nikkei services PMI reading fell to 52.2 from 53.2 m-o-m
2. Punjab National Bank Q3 net profit rose by 8% y-o-y to Rs. 247 crore
3. CESC Q3 net profit surged by 13.1% y-o-y to Rs. 173 crore
Buzzing stocks on BSE
1. Godrej Agrovet slipped by 3.21% to Rs. 475.80, after consolidated net profit fell by 17.45% to Rs. 40.92 crore in Q3FY2019
2. Jubilant Foodworks fell by 6.45% to Rs. 1,303.25, on reports that the company has been found guilty of not passing on GST rate cut benefits of Rs. 41.42 crore on sale of some pizza products and has been directed to deposit the illegal gains with the government.
Most Asian stock markets were shut on February 05, except the Nikkei on account of the Lunar New Year holidays.
European stocks surged to nine-week high as market participants monitored a slew of corporate results.
Benchmark indices rallied in the last hour and extended their gains for the third day. Reliance Industries, ONGC, Bajaj Auto, TCS and Kotak Mahindra Bank were the top gainers on the Sensex, while Yes Bank, Power Grid, NTPC, Sun Pharma and M&M were the top losers. The Sensex rose by 0.31% or 113.31 points to 36582.74. The Nifty surged by 0.17% or 18.60 points at 10912.30.
Market breadth was in favour of declines with an advance-decline ratio of 1:3
1. Bajaj Auto January sales surged by 15% y-o-y to 4.07 lakh units
2. Tata Motors domestic sales declined by 10% y-o-y to 58,185 units
3. Insecticides (India) Q3 net profit rose by 75.2% y-o-y to Rs. 16.9 crore
4. GSK Pharma Q3 net profit increased by 26% y-o-y to Rs. 113 crore
5. Welspun India Q3 net profit slipped by 37% y-o-y to Rs. 50 crore
Buzzing stocks on BSE
1. Titan Company surged by 3.40% to Rs. 1,025, after consolidated net profit rose by 43.49% to Rs. 413.19 crore in Q3FY2019.
2. Reliance Communications tumbled by 34.31% to Rs. 7.62, after the company sought debt resolution plan through the National Company Law Tribunal (NCLT).
3. Divi’s Laboratories rose by 5.63% to Rs. 1618, after net profit rose by 67% to Rs. 379 crore in Q3FY2019.
Asian stock markets traded mixed on February 04, amid speculation over next steps in the dispute between the US and China over technology development, and trade following meetings in Washington last week.
European stock markets were slightly lower, as market participants kept a close eye on a series of corporate results.