INSUBCONTINENT EXCLUSIVE:
Dalal Street has just had a solid start to Vikram Samvat 2076
And Tata Motors was the biggest gainer of the day, rising 18 per cent in the one-hour session after Tata Sons stepped in to help the
investors considered the battering following the whistleblower crisis overdone
The IT major rallied nearly 2 per cent.
Sensex ended the session 192 points higher at 39,250, with 19 index stocks ending in the positive
While Tata Motors led the gainers, it was followed by YES Bank (up 5.27 per cent), Vedanta (up 2.18 per cent), Infosys (up 1.98 per cent)
and M-M (up 1.69 per cent).
Infosys made the biggest contribution to the index gains at 45 points, followed by Tata Motors (39 points), HDFC
Bank (38 points), ITC (23 points) and RIL (13 points).
Maruti proved the biggest drag, down nearly one per cent
There is a visible turnaround in sentiment
auto and banking counters.
Bank stocks by and large put up a good show, with YES Bank (up 5 per cent) leading the pack, followed by HDFC
Bank (0.76 per cent), Kotak Bank (0.34 per cent) and Axis Bank (0.32 per cent)
SBI and IndusInd, too, logged marginal gains.
M-M and ITC also showed strength.
The broader Nifty50 index gained 44 points, or 0.38 per
cent, to close at 11,628.
Elsewhere, SpiceJet shone amid signs of stress in rival IndiGo
Shares of the Ajay Singh-controlled airline rallied 6 per cent
InterGlobe Aviation shares closed nearly 1 per cent lower after it reported its highest quarterly loss of Rs 1,062 crore for September
quarter.
Motilal Oswal, Managing Director - CEO, Motilal Oswal Financial Services, said he is optimistic about the medium to long-term
Brand India is at it all-time high
The government is also proactively addressing many basic issues
After the Big Bang corporate tax cut, I am hopeful that there will be individual income-tax rate cut soon and many more reforms will be on
cent), Reliance Nippon (4.5 per cent) and PNB Housing (4.5 per cent
In the smallcap pack, OnMobile rallied 16 per cent, Future Enterprises 11.5 per cent, Balaji Tele 11.5 per cent and Simplex Infra 10 per
cent.
Diwali, the festival of light, marks the start of the new Vikram Samvat year, the Hindu calendar year
Stock bourses hold Muhurat trading on this day as it is considered auspicious.
Barring consumer durables (down 0.14 per cent) and telecom
(down 0.78 per cent) indices, all other sectoral benchmarks on BSE ended in the green
Auto, healthcare, capital goods and IT indices gained between 0.50 per cent and 1.60 per cent.
Some 32 stocks scaled their fresh 52-week
highs in Muhurat trading; they included ICICI Bank, Abbott India, Affle India, GSK Pharma and Dr Lal Path Labs
Tata Motors, YES Bank, ICICI Bank, SBI and RIL were among the most active stocks in terms of volume.
The domestic equity market will be
closed on Monday for Diwali Balipratipada.
