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Sensex jumps 254 points led by metals and bank stocks




Update of the closing session:

The stock market benchmark BSE Sensex held on to its early gains and closed 254.57 points at 39,982.98 on Friday, led by heavy buying mostly in metals, banks and computer meters.

Likewise, the wider NSE Nifty jumped 82.10 points or 0.70 percent to close at 11,762.45.

On the Sensex chart, IndusInd Bank, Tata Steel, Infosys, ONGC, Kotak Bank, NTPC and Bharti Airtel were among the main winners.

Of the 30 Sensex components, 24 stocks rose in the green, while six stocks fell.

The BSE Metal index rose 292.77, or 3.70%, to 8,205.39, led by JSW Steel, Jindal Steel, Tata Steel, Hindalco, SAIL and National Aluminum.

The BSE Banking index also went into positive territory today, gaining 511.10 points or 1.95%, to 26,680.86, led by Bandhan Bank, RBL Bank, HDFC Bank, Kotak Bank, Axis Bank, IndusInd Bank and CUB.

Clever call:

Strategy: Buy on a fall with a fixed stop-loss at 11,725 ​​levels

Supports: 11730 and 11700

Resistances: 11.780 and 11.800

Midday update:

The benchmarks maintained their early gains and are in the green zone.

The BSE Sensex is trading at 39,955.60, up 227.19 points or 0.57%.

The NSE Nifty is at 11,753.85, up 73.50 points or 0.63%.

With the exception of IT and Media, all sector indices are trading in green with the Bank in the lead.

BPCL, Tata Steel and Axis Bank are the top winners. UPL, HCL Tech and Asian Paints are the main laggards.

Open rupee:

Although the rupee opened with a spread at 73.43, it enjoys strong support at 73.5. As long as the local currency is above this level, the probability of a recovery is high. Therefore, for intraday traders can buy INR with a stop-loss at 73.5.

Supports: 73.5 and 73.7

Resistances: 73.3 and 73.15

Buzzing stock:

HCL Technologies on Friday reported consolidated net profit of 3,142 crore for the second quarter ended September 30, up 18.5% year-over-year (year-on-year), compared to 2,651 crore at corresponding period of last year.

The company’s revenue also increased 6% year-on-year to 18,594 crore in the quarter, from 17,528 crore in July-September 2019.

On a sequential basis also, net income increased by 7.4% (vs. 2,925 crore) and income by 4%.

The company declared a dividend of 4 per share. This is the 71st consecutive quarter of dividend payments.

HCL Technologies shares were trading at 827.65 each on the 10am BSE, down 3.70% from the previous close.


The stock market benchmark BSE Sensex rebounded 320.33 points to trade at 40,048.74 during the first transactions on Friday, driven by intense buying mainly at banking and IT outlets.

Likewise, the wider NSE Nifty jumped 86.75 points or 0.74 percent to 11,767.10 in early trade.

On the Sensex chart, IndusInd Bank, Tata Steel, Infosys, ONGC, Kotak Bank, NTPC and Bharti Airtel were among the main winners.

Of the 30 Sensex components, 27 were trading in the green.

Asian stocks were trading on a mixed note amid growing fears about the resurgence of coronavirus cases in some countries.

As of Thursday, the Sensex fell 1,066.33 points or 2.61% to finish at 39,728.41. The wider NSE Nifty had fallen 290.70 points or 2.43 percent to 11,680.35.

Foreign institutional investors have become net sellers in the capital market by offloading shares worth Rs 604.07 crore on Thursday, according to exchange data. (PTI)

Opening bell:

After a sharp drop at the close of yesterday’s session, the markets have now opened up on green territory.

The BSE Sensex was opened at 39,960.10, up 231.69 points or 0.58 percent.

The NSE Nifty was at 11,742.60, up 62.25 points or 0.53 percent.

IndusInd Bank, Infosys and HDFC Bank top the list of winners. Meanwhile, Asian Paints, HCL Tech and Cipla were the main laggards.

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