MARKET UPDATE: Sensex was at 59,821 levels, up 514 points while Nifty at 17,815 levels, up 144 points
Published On: Monday, November 1, 2021 | By: Team KnowMyStock
Dalal street started the day (1st Nov.2021) with a positive note driven by Supportive global cues, marginal ease in crude oil prices, and the ongoing earnings season. Besides, low-level buying after last week's profit-booking resulted in a bounce-back rally. In early deals, the BSE Sensex was at 59,821 levels, up 514 points or 0.87 percent, led by Bharti Airtel (up 3 percent), Axis Bank, Titan, Tech M, and Tata Steel. The Nifty50, on the other hand, was at 17,815 levels, up 144 points. In the broader markets, meanwhile, the BSE MidCap and SmallCap indices were up 0.89 percent and 0.92 percent, respectively. Sectorally, the Nifty Realty index was up 3 percent, followed by the Nifty Metal index (up 1.4 percent). On the downside, the Nifty Auto index was down 0.5 percent.
Among individual stocks, shares of SAIL surged 10 per cent after Q2FY22 net jumped multi-fold to Rs 5,795 crore as against Rs 660.20 crore in Q2FY21. Revenue also soared 58.5 per cent to Rs 26,828 crore from Rs 16,925 crore.
Vedanta, on the other hand, rose nearly 3 per cent as the company posted 5-fold YoY jump in consolidated net profit at Rs 4,615 crore for the July-September quarter, as against Rs 838 crore on a low-base effect.On the contrary, shares of Bandhan Bank fell over 4 per cent after the lender reported a loss of Rs 3,008.6 crore in Q2FY22 on huge provisions of over Rs 4,600 crore for the bad loans and restructured advances.
Bajaj Auto reported a 14 per cent YoY decline in monthly auto sales, dragged by weakness in domestic sales. Escorts, on the other hand, posted just 1 per cent YoY dip in October sales.
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