Asian markets were mirroring global trends on Tuesday morning, with Hang Seng up over 1%, followed by Japanese equity markets.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices climbed to their all-time highs on Monday after the uncertainty around US Presidential Elections came to an end. S&P BSE Sensex closed at 42,597 points while the 50-stock NSE Nifty finished at 12,461 levels. Now on a six-day gaining streak, Sensex and Nifty may look to make it seven days today with positive news flow of the coronavirus vaccine. Asian markets were mirroring global trends on Tuesday morning, with Hang Seng up over 1%, followed by Japanese equity markets. Shanghai Composite and KOSDAQ were trading in the red.
On Monday, Pfizer and BioNtech said that a vaccine prepared by them for the coronavirus prevented more than 90% of infections in a study of tens of thousands of volunteers. The news was well received across the globe. Although the trial data will need to be studied by experts and reviewed by peers, initial results seem positive. If all goes well the vaccine could still take months to be delivered across the globe. However, the positive news flow has given bulls a good enough reason to take indices higher.
Highlights
November series is seeing maximum Put OI at 12,000 strike with 27.35 lakh contracts. 11,500 strike carries 25.01 lakh contracts.
For the November series, maximum call option Open Interest (OI) is placed at 13,000 strike with 18.45 lakh contracts, followed by 12,500 strike with 15.34 lakh contracts.
ITC’s standalone net sales were up 0.9% y-o-y, while Ebitda/PAT declined by 11%/19.7% y-o-y, respectively. Sales were 7.6% ahead of consensus, while Ebitda/PAT were largely in line with consensus expectations. This strong revenue beat was largely driven by the strong underlying performance of the FMCG-Others business, which grew by 18% y-o-y on a comparable basis and delivered significant margin expansion, leading to 66% segment Ebitda growth, which in our view is the key highlight of the result.
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Domestic investors will also keep eyes on the crucial Bihar election results today. Exit polls give the RJD led alliance an edge. "Exit polls indicate the possibility of hung assembly in Bihar. This is bit sentimental negative for the markets. We should watch out for Spirit (liquor cos) as there is a possibility of lifting the ban in the state if there is a non NDA Chief Minister," said Hemang Jani, Head – Equity Strategist, Motilal Oswal Financial Services.
The clearest sign yet of progress on a Covid-19 vaccine is fueling a rally across global stock markets. A vaccine being developed by Pfizer Inc. and BioNTech SE prevented more than 90% of infections in a study of tens of thousands of volunteers. The preliminary findings surprised scientists about the possible effectiveness of a vaccine and fueled speculation among investors that there could be a path out of the pandemic. The strongest gains in the market were among small-cap stocks, which have been hit hard by the economic toll of lockdowns. Futures on the Russell 2000 Index of small-cap stocks jumped 7% and S&P 500 contracts rose 4.2%. Nasdaq 100 Index futures pared gains, but were still up 0.5%.
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