November 27, 2020

Market and Financial News Aggregator

Sensex Up Over 600 Points; Nifty At 12,440

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Indian shares opened higher on Monday, with benchmark indexes Sensex and the Nifty hitting record highs in initial trade after Democrat Joe Biden defeated Donald Trump in the U.S. presidential elections.

The benchmark S&P BSE Sensex rose 615 points, or 1.5 percent, to 42,507 in early trade, while the broader NSE Nifty index was up 176 points, or 1.4 percent, at 12,440.

Future Retail fell over 1 percent after it moved the High Court seeking relief against SIAC stay order on RIL deal.

ITC rose about half a percent despite reporting nearly 20 percent drop in profits in the second quarter ended September 30.

IRCON International gained more than 1 percent on reports the government plan to sell up to 15 percent stake in the company.

Lakshmi Vilas Bank slumped 8 percent after widening its Q2 net loss.

Cipla edged down slightly. The company has asked its information technology team to be “paranoid” about its cybersecurity following attacks on Dr Reddy’s Laboratories Ltd and Lupin.

Ashok Leyland declined 1.5 percent after it reported loss of Rs 147 crore in the September quarter.

Sobha gave up nearly 2 percent on reporting a 76 percent fall in quarterly profit.

Ipca Laboratories lost 1 percent. The company reported a 38 percent rise in consolidated net profit for the second quarter ended September.

Lupin was down 0.4 percent after the U.S. FDA concluded inspection at its Somerset facility.

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Market Analysis

2020-11-08 23:32:28

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