Indian benchmark indices, Sensex and Nifty closed a percent higher Thursday led by strong gains across the board, amid positive global cues.
The Sensex closed 638 points higher at 52,837 and the Nifty settled 191 points higher at 15,824. Broader markets outperformed benchmarks as mid-caps and small-caps rose 1.14 and 1.47 percent higher, respectively. Market breadth favours advances with the advance-decline ratio at 2:1.
On the Nifty50 index, JSW Steel, Tech Mahindra, Bajaj Finance, Bharti Airtel, and Tata Steel were the top gainers. And Hindustan Unilever, Asian Paints, Bajaj Auto, and Mahindra & Mahindra led the losses.
Metal companies bounce back on the optimism over robust earnings as Nifty Metal closed 3 percent higher. Nifty IT, Media, and Realty closed over 1.5 percent higher, while financials closed nearly 1 percent higher.
Bharti Airtel surges over 4 percent after the company rejigs its postpaid plans. Bajaj Finance and Bajaj Finserv surge despite reporting lower-than-expected earnings.
The Share price of Hindustan Unilever (HUL) dropped 2.27 percent Thursday as investors booked profits after the FMCG major reported a 9.6 percent jump in its net profit for the first quarter of fiscal 2021. It reported a net profit of Rs 2,061 crore as against Rs 1,881 crore in the corresponding quarter of last fiscal. The numbers were in line with CNBC-TV18 analysts' poll estimates.
UltraTech Cement reported a sharp 114 percent jump in its consolidated net profit for the quarter ended June 2021 at Rs 1,700 crore as compared to Rs 794.2 crore in the year-ago period. UltraTech Cement’s net profit beat CNBC-TV18 analysts’ poll estimates of Rs 1,428 crore. Its stock price rose 0.36 percent higher after the announcement.
The share price of Jubilant FoodWorks hit a fresh 52-week high of Rs 3,399.50 apiece, rising 11 percent in the early trade on Thursday after the company reported better-than-expected earnings for the first quarter of fiscal 2022.
(Edited by : Yashi Gupta)
First Published: IST