3 min read . Updated: Nov 5, 2020 10:22 am IST
- Asian stock markets firmed up on Thursday, while bonds held big gains as investors waited for a clear outcome from the US election, with the likely outlook for a policy stall seemingly welcomed by Wall Street overnight.
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November 05, 2020 10:22:51 AM IST
Rupee update
The rupee soars 47 paise to 74.29 against the US dollar in early trading.
November 05, 2020 10:10:05 AM IST
Happier minds drops 5%
IT company Happiest Minds Technologies Ltd reported a 27.8% increase in consolidated net profit on Wednesday in ₹Rs 34.08 crore for the September 2020 quarter.
The company, which was listed on the BSE and NSE on September 17 this year, had posted a net profit of ₹Rs 26.67 crore in September 2019 quarter.
Their income from contracts with clients was ₹Rs 182.84 million in the quarter under review, 4.4% more than ₹175.06 crore in the prior year period.
November 05, 2020 09:57:09 IST
Market outlook
“We have opened with a burst that is well above the 11950 resistance levels. As mentioned yesterday, any drop can be used to accumulate long positions in the index. Markets should now head towards the 12300-12400 levels,” he said Manish Hathiramani. , technical analyst and proprietary index trader, Deen Dayal Investments.
November 05, 2020 9:48:49 AM IST
HPCL up to 7%
Hindustan Petroleum Corp Ltd (HPCL) reported more than double its second quarter net profit due to an increase in refining margins and inventory gains. Net profit in July-September was ₹2,477 crore compared to ₹1,052 crore a year ago. Likewise, the company’s board of directors has approved a ₹Rs 2,500 crore share buyback plan.
November 05, 2020 9:40:52 AM IST
SBI up to 6%
The country’s largest lender, State Bank of India (SBI), reported a 55.41% increase in consolidated net profit on Wednesday ₹Rs 5,245.88 crore for the second quarter ended September 30 due to the decrease in bad loans.
The bank’s net profit stood at ₹Rs 3,375.40 crore in the July-September quarter of the previous fiscal year.
Independently, the bank’s net profit increased nearly 52% to ₹Rs 4,574 crore driven by lower provisions and higher growth in net interest income. His net profit stood at ₹Rs 3,012 crore in the prior year period.
November 05, 2020 9:29:58 AM IST
Sector trends
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November 05, 2020 9:19:58 AM IST
Market opening
Benchmark Indian stock indices opened higher on Thursday following strong global pairs. Sensex opened at 40,616.14, an increase of 355.01 or 0.88%, while Nifty was up 153.90 points or 1.29% to 12,062.40.
SBI, with an open above 3%, was the main winner for Sensex, followed by IndusInd Bank, HCL Tech, RIL, M&M, Tata Steel and Infosys. All Sensex shares opened green.
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November 05, 2020 9:11:16 AM IST
Market pre-opening
Indian stocks were higher in the pre-open session on Thursday. As of 9:08 am, Sensex was at 41,111.35, up 495.21 points or 1.22%, while Nifty added 153.90 points or 1.29% to 12,062.40.
November 05, 2020 8:58:00 AM IST
Market at the close of Wednesday
Stock indices rose for a third straight session on Wednesday, largely in tandem with global markets, as investors waited for the outcome of the hard-fought US presidential election.
After a volatile session, the 30-share BSE Sensex closed 355.01 points or 0.88 percent higher at 40,616.14.
Similarly, the broader NSE Nifty rose 95 points or 0.80% to 11,908.50.
November 05, 2020 8:37:58 AM IST
Asian stocks continue to rise on Wall Street on stalled US bets.
Asian stock markets strengthened on Thursday, while bonds held big gains as investors waited for a clear outcome from the US election, with the likely prospect of a policy stalemate seemingly welcomed by Wall Street overnight.
Japan’s Nikkei was up 1%.
China’s Shanghai Composite advanced 0.6%.
Hong Kong’s Hang Seng rose 2.4%.
Australia’s AXS 200 added 1%.
South Korea’s KOSPI was up 1.5%.
SGX Nifty of Singapore gained 1.4%.
November 05, 2020 8:37:58 AM IST
American stocks rebound
US stocks rose to close higher on Wednesday as the race for the presidential election remained clouded, but the likelihood of a deadlock in Congress left investors optimistic that it would be difficult to enact major policy changes.
The Dow Jones Industrial Average rose 367.63 points, or 1.34%, to 27,847.66, the S&P 500 gained 74.28 points, or 2.20%, to 3,443.44 and the Nasdaq Composite added 430.21 points, or 3.85%, to 11.590.78.
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