INSUBCONTINENT EXCLUSIVE:
The 30-share BSE pack touched an all-time of 61,216 in intraday trade.New Delhi: Equity indices were at record highs on Thursday and on
course to finish the holiday-shortened week around 2% higher, powered by gains in technology stocks following upbeat results from top firms
Infosys and Wipro.The broader NSE Nifty was up 0.68% or 123 points at 18,285, while the benchmark BSE Sensex rose 0.66% or 403 points to
Indian markets will be closed on Friday
The 30-share BSE pack touched an all-time of 61,216 in intraday trade.Both indexes had scaled record peaks on Wednesday and have clocked
gains this week, aided by factors such as the Reserve Bank of India (RBI) assuring enough liquidity, easing inflation and news around an
emergency nod for a Covid-19 vaccine for kids.Top gainers in the BSE pack included ITC, HDFC Bank, PowerGrid, Larsen and Toubro, SBI and
ICICI Bank with their shares up as much as 3.53%.IT, metal and realty stocks drove gains, with the Nifty IT index rising 1.62%."Indian
equity benchmarks driven by metal, IT and realty indices up as much as 2%, while PSU bank, infra, capital goods indices up as much as 1%
BSE mid cap and small cap indices are also trading in green
Our research suggests that 59,800-61,000 will be an important support level in the market
If the market sustains above 61,000
We can expect the market to trade in the range of 61,000-61,300
Technical indicators also support positivity in the market," Likhita Chepa, Senior Research, Analyst, Capitalvia Global Research Ltd
said.Infosys, rose 4.4% in early trade to a near three-week high after it forecast revenue to rise between 16.5% and 17.5% in the financial
index after a near 19% rise in quarterly consolidated net profit.A rally in auto stocks eased after five sessions with the Nifty Auto
Tata Motors which had seen a heady rally in recent sessions was down 1.36%
Still, for the week the carmaker is up around 31%.Meanwhile, India's total domestic passenger vehicle sales fell 41.2% in September from a
year ago, data from an auto industry body showed, as a semiconductor crunch and high commodity prices exacerbated problems for
automakers.Total domestic passenger vehicles fell 160,070 units from 272,027 units a year ago, the Society of Indian Automobile
Manufacturers (SIAM) said.
