SME Times is powered by   
Search News
Just in:   • Goyal urges textile industry to focus on speed, skill and scale  • Goyal reviews the Amended Technology Up-gradation fund Scheme  • Stage set for pvt investment cycle  • Service rendered by govt, not its agency, only exempt from GST  • Cochin Airport ventures into hydropower production 
Last updated: 14 Oct, 2021  

BSE.9.Thmb.jpg Positive macros, results push equities higher; Sensex closes above 61k

   Top Stories
» Goyal urges textile industry to focus on speed, skill and scale
» Goyal reviews the Amended Technology Up-gradation fund Scheme
» Stage set for pvt investment cycle
» PM interacts with domestic vaccine manufacturers
» Goyal calls for free trade within rules-based multilateral trading system
SME Times News Bureau | 14 Oct, 2021
Positive macro-economic wholesale inflation data as well as healthy Q2 results pushed equities higher on Thursday.

In the process, S&P BSE Sensex made an intraday high of 61,353.25 points and the NSE Nifty50 touched 18,350.75 points.

The two indices had a gap-up opening and held on to the initial gains encouraged by positive global cues.

Globally, stock markets rose on companies' earnings reports that indicated strong consumer demand.

On the domestic front, a key macro-economic data point showed that wholesale inflation had eased to 10.6 per cent in September from 11.4 per cent in August.

Sector-wise, realty, power, metals, capital goods and bankex gained the most, whereas, auto was the sole loser.

Consequently, the 30-scrip sensitive index traded at 61,305.95 points, up 568.90 points or 0.94 per cent.

The Sensex opened at 61,088.82 points from its previous close of 60,737.05 points.

Besides, the NSE Nifty50 traded at 18,338.55 points, up by 176.80 points or 0.97 per cent.

It opened at 18,272.85 points from its previous close of 18,161.75 points.

"Nifty rose on Wednesday and Thursday with runaway gaps which indicated strong upward momentum," said Deepak Jasani, Head of Retail Research, HDFC Securities.

"Though the daily technical indicators are close to overbought levels, Nifty could rise post the long weekend on Monday and cool down later."

According to Geojit Financial Services' Head of Research Vinod Nair: "The Indian market sustained its upbeat mood supported by positive global market, favourable inflation data and up move in IT stocks following strong earning scorecards by sector majors."

"Banking stocks also contributed to the rally and remained in focus as the sector is set to kickstart its earnings season."

In addition, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said: "Domestic equity continued its northward journey amid positive global cues, strong economic data and expectation of upbeat Q2 earnings."

"The broader markets too ended in green with gains of around 0.6 per cent. Buying was spread across most sectors, except for auto which witnessed some profit booking after the sharp rise in the last couple of days."
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 25 Oct, 2021
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter