Retail buyers push Nifty Smallcap up 8% in August; mid-caps jump 6% against a 2% rise in large-caps
Technical analysts say the positive momentum in the market could sustain as long as the index stays above 11,100 levels
Analysts have cut the 12-month average profit estimates for Nifty members by 20% since January on concerns about a patchy recovery and climbing virus numbers
The company reported a 26 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 758 crore.
Recouping all the losses made in the previous session, the Nifty50 index rose 211.25 points, or 1.94 per cent, to end at 11,102
The last time the indices posted bigger gains than this was in May 2009, following the re-election of the Manmohan Singh-led UPA government
A positive start to the results season also boosted sentiment
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The S&P BSE Sensex climbed 1.5% to close at 37,020.14- most since March 6
The benchmark Nifty ended the session at 10,607, a fall of 1.8 per cent or 195 points. The Sensex fell 661 points, or 1.8 per cent - the most since June 11
Revenues set to take a similar hit
Nifty has risen 10% since June 15 despite FPI selling and muted MF buying
The NSE Nifty 50 Index fell 0.42% to 10,768.05 and the S&P BSE Sensex 0.39% to 36,594.33 points
The market heavyweight stock gained 2.95 per cent to close at Rs 1,878.50 on the BSE.
At 7:10 AM, SGX Nifty was trading more than 50 points higher at around 10,630 levels, indicating a higher opening for the Sensex and Nifty today
ICICI Securities expects that in the semi-annual change in the Nifty50 constituents, SBI Life Insurance will enter the index, replacing Zee Entertainment (ZEEL).
On the results front, a total of 18 companies including Indiabulls Housing Finance are scheduled to announce their results today
27 sessions in H1CY20 saw over 3% swing
The SGX Nifty was up around 60 points at 7:30 AM, and was indicating an open above 10,300 levels for the Nifty today