MARKET UPDATE: Sensex up 37 points at 61,387 levels and Nifty at 18,284 levels, up 16 points


Published On: Wednesday, October 27, 2021 | By:

MARKET UPDATE: Sensex  up 37 points at 61,387 levels and Nifty at 18,284 levels, up 16 points

Healthy corporate earnings and tepid trading among Asian markets, led to a volatile start for benchmarks in Indian markets today(26th Oct.2021). In early deals, the frontline BSE Sensex was trading at 61,387 levels, up 37 points, supported by Asian Paints, Dr. Reddy's Labs, and ITC. The Nifty50, on the other hand, was at 18,284 levels, up 16 points. Among individual stocks, Axis Bank slipped nearly 4 percent amid profit booking after the private lender posted its highest-ever quarterly profit of Rs 3,133 crore, backed by robust growth in fee income and a sharp fall in provisions. Bajaj Finance was also down 3 percent on profit booking after Q2 consolidated net jumped 53 percent to Rs 1,481 crore for the quarter ended September on healthy interest income. Total income rose 19 percent YoY to Rs 7,732 crore.


ITC, on the other hand, was trading 0.4 per cent up ahead of its Q2 results later today. According to analysts, a swift recovery in cigarette volumes and other discretionary business may aid September quarter earnings of FMCG major ITC. This, along with a sharp rebound in the hospitality segment on the back of normalization of out-of-home activities and vacation season, may further support profitability.

In the broader markets, the BSE MidCap and SmallCap indices gained 0.39 per cent and 0.41 per cent, respectively.Sectorally, the Nifty Pharma index was the best performer, up over 1 per cent, while the Nifty Media index was the top laggard, down 1 per cent.


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