The Indian stock market ended with handsome gains ahead of the RBI policy review tomorrow. Indices extended their winning streak for the second consecutive trading session today amid positive global cues and firm rupee. The buying was so fierce that not a single sectoral index on the BSE ended with losses; realty, auto, consumer durables, oil & gas, capital goods, and finance stocks ended with top gains. Nifty closed with a gain of 127 points at 8,738, while BSE Sensex ended with a gain of 377 points at 28,243.
On the global front, Asian stocks closed higher. Hong Kong’s Hang Seng advanced 0.90%, China’s Shanghai Composite ended marginally higher, while Japan’s Nikkei gained 1.2%.
European stocks rose as markets eye developments on the Deutsche Bank settlement and Britain’s Brexit process. The FTSE 100 and DAX have gained 1% each, while the CAC 40 is up 0.31%.
Maruti Suzuki climbed 3.7% to Rs.5,682 on the BSE. The auto company posted a 29.4% growth in domestic sales at 137321 units last month on account of demand in the ongoing festive season.
Jain Irrigation Systems climbed 6.6% after the company secured an order worth Rs.284.43 cr under AMRUT Scheme (Atal Mission for Rejuvenation and Urban Transformation).
Adani Ports zoomed 3% to Rs.264.45 on the BSE. The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of Adani Ports and Special Economic Zone Ltd under the Portfolio Investment Scheme (PIS). The purchases could be made through primary market and stock exchanges.
Kotak Mahindra Bank inched up 1%. The bank said it will acquire a 99.49% stake in BSS Microfinance Pvt. Ltd for Rs.139.2 cr.
Tata Motors advanced 1.1% on the company planning to increase prices of its passenger vehicles during the ongoing festive season to offset rising input cost. Tata Motors’ passenger and commercial vehicle sales (including exports) in September 2016 were at 48,648 vehicles, a growth of 8% month on month, over 45,215 vehicles sold in September 2015.
The rupee was trading up by 14 paise at 66.47 per US dollar.
Out of 1,445 stocks traded on the NSE, 135 declined and 1,279 advanced today.
Top 5 Nifty Gainers: Maruti Suzuki (3.61%), Hero MotoCorp (3.43%), Adani Ports & Sez (3.17%), Asian Paints (2.84%) and L&T (2.75%)
Top 5 Nifty Losers: TCS (-0.8a6%)
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