Share Market

The rise in domestic indices came on the back of a positive trend in the global markets along with robust Q3 earnings. Healthy buying was witnessed in IT stocks, which surged on the back of strong third quarter of the Tata Consultancy Services. IT major TCS on Friday reported a rise of 7.2 per cent in its consolidated net profit for the third quarter of FY21.

Healthy buying was witnessed in the IT, telecom and FMCG stocks. Around 9.34 a.m., Sensex was trading at 49,211.61, higher by 429.10 points or 0.88 per cent from its previous close of 48,782.51. It opened at 49,252.31 and touched a high of 49,260.21 and a low of 49,015.22 points.

This time, the image is of a ready-to-charge 'Zebu Bull', with a pair of long, piercing horns pointing to the sky, which has come up at the Rajni Patel Chowk in the financial hub of Worli. It's a joint collaboration of the IndusInd Bank, the Hinduja Foundation and the Municipal Corporation of Greater Mumbai (MCGM), and becomes the fourth bovine gracing the country's commercial capital.

The Nifty50 on the National Stock Exchange (NSE) has gained 86 per cent in the current financial year, showed a report by ICICI Securities. On Friday, it hit a fresh all time high of 14,289.30 points. "On a rolling 9-month basis, the NIFTY50 index (+86 per cent) is close to exhibiting the fastest rally since FY10 when it gained 103 per cent in a similar timeframe," it said.

Around 10 a.m., it was trading at 14,243.80, higher by 106.45 points or 0.75 per cent from its previous close of 14,137.35 points. The BSE Sensex was trading at 48,421.16, higher by 327.84 points or 0.68 per cent from its previous close of 48,093.32.

Nifty touched a new record high of 14,256.25 points. Healthy buying was witnessed in metal, realty, capital goods and banking stocks. Further, a positive trend in the international market also supported the Indian indices. The rise was also witnessed in the broader markets as the BSE MidCap and SmallCap indices were trading around one per cent higher.

The market's up-move comes after global cues subdued investors' sentiments. Subsequently, investors dived into the market to buy stocks in decline which triggered another uplift. Amongst sectors, some losses were witnessed in the Metal, Auto and Realty indices. However, IT, Banking and Financial Services spaces traded in the green. Besides, FIIs continued their buying streak, at the same time, DIIs continue selling.

The across-the-board selloff was led by metal, oil and gas stocks. Around 10.15 a.m., Sensex was trading at 47,986.84, lower by 189.96 points or 0.39 per cent from its previous close of 48,176.80. It opened at 48,037.63 and has so far touched an intraday high of 48,129.79 and a low of 47,903.38 points

The Covid-19 outbreak has affected the lives and livelihood of people globally, which had shattered businesses and shaken the world equities. Yet, moving towards the end of the year the Indian Indices raised hopes of returning to its track. The BSE benchmark saw ruthless selling and massive buying in the year 2020, as the Sensex recorded 15.7 per cent high gains.