Stock Market Today: Nifty, Sensex End Samvat 2081 At Over One-Year High
The NSE Nifty 50 and BSE Sensex indices ended at over one-year high on the last day of Samvaat 2081, with bank stocks leading the surge. Reliance Industries Ltd., Bharti Airtel Ltd., State Bank of India, and Axis Bank contributed the most in the gains.
The NSE Nifty Bank index scaled fresh high during the session, with the NSE Nifty PSU Bank emerging as the top sectoral index in terms of gains. RBL Bank Ltd. hit a five-year high, while Federal Bank and AU Small Finance Bank rose to new highs.
Market Highlights
Benchmarks gain for the 4th straight day; Nifty close above 25,800 mark. Reliance Industries and Cipla are the top gainers in Nifty, with Reliance Industries and Cipla gaining over 3% for the day.
Nifty Midcap 150 ends in green; MRPL and IDFC First Bank are the top gainers in Nifty Midcap 150. Nifty Smallcap 250 ends in green; Ceat and RBL Bank are the top gainers in Nifty Smallcap 250.
RBL bank gain over 8% for the day as Emirates NBD to invest $3 Bln to buy 60% stake. Sectors end on a positive note barring Nifty Auto and Financial Services.
Sectoral Performance
Nifty PSU Bank is the sectoral gainer, with gains led by Bank Of India & Central Bank Of India. Nifty PSU Bank snaps 2-day losing streak. Nifty Oil and Gas, Realty, Pharma and Bank gain for the 4th straight day.
Nifty Auto snaps 3-day gaining streak. Nifty Metal falls for the 2-day in a row. Rupee closed 4 paise higher at 87.93 against US dollar. It closed at 87.97 a dollar on Friday, as per Rupee vs US Dollar updates.
Samvat 2082 Outlook
Samvat 2082 has arrived and India’s stock market is poised to maintain its momentum. From last Diwali, the market has shown a mixed to positive trend for the period. The benchmark Nifty 50 index delivered a moderate return of 6%. The Nifty Bank was the standout performer among the major indices, posting a strong gain of 12%.
The Nifty Midcap100 also ended in positive territory with a 5% gain. However, the smaller-cap segment underperformed significantly, with the Nifty Smallcap 250 declining by 4%. Notably, both the Nifty and Sensex are closing in on their life highs touched in September 2024.
Stock-Specific News
Ceat Ltd. shares hit life high on Monday after second quarter financial results came higher than expected. Consolidated revenue grew by 14% year-on-year to Rs 3,772 crore, beating the Bloomberg consensus estimate of Rs 3,673 crore. Net Profit jumped by 52% to Rs 185 crore against the estimated Rs 140 crore.
Operational profitability improved with Ebitda rising by 39% to Rs 506 crore, exceeding the earnings estimate of Rs 428 crore. Ebitda margin expanded by 240 basis points, reaching 13.4%, compared to a forecast of 11.7%.
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