Even as the Asian markets traded under pressure, the investors back home rejoiced boosted by the unlock trade, strong quarterly earnings and hopes that the US Fed will not rush to reduce stumulus support. While the broader markets returned to green after three days, the benchmarks hit record highs, led by gains in ICICI Bank, Infosys, L&T and Tech Mahindra.
BSE barometer Sensex jumped 318 points or 0.58 per cent to end at 54,844. The index had touched an all-time high of 54,874 in trade. Nifty too jumped to its all-time peak of 16,375 in intra-day session. It finally settled at 16,364, up 82 points or 0.5 per cent.
Power Grid, Tech Mahindra, HCL Tech and Titan were the top gainers in 30-pack Sensex, up between 3-5 per cent. On the other hand, DRL, Axis Bank, M&M and IndusInd Bank were the worst laggards.
Investors lapped up smaller stocks with both hands, pushing BSE Smallcap index up 1.97 per cent and BSE Midcap 1.07 per cent.
On the sectoral front, barring Nifty Pharma that shed over 1 per cent, all indices closed with gains. Media, IT, PSU Bank and Realty indices lead gainers. Nifty IT even hit an all-time high in trade today.
On stock-specific front, shares of IRCTC hit a new high of Rs 2,728 on the BSE after the company reported a net profit of Rs 82 crore for the June quarter as against a loss of Rs 24 crore in corresponding quarter a year ago. Further, IRCTC's board has approved the proposal for a split of 1 share at a face value of Rs 10 each into 5 equity shares. The scrip ended the day at Rs 2689.85, up 4.6 per cent.
Shares of Bharat Petroleum ended in the red at Rs 448.20 on BSE after the company missed Street estimates for the June quarter. BPCL reported a 28 per cent year-on-year fall in net profit to Rs 1,501.6 crore.
VIP Industries ended in the 20 per cent upper circuit at Rs 463.30 on reporting a consolidated net profit stood of Rs 2.53 crore in Q1FY22 compared with a net loss of Rs 51.32 crore in the year-ago period.
SpiceJet shares soared 5 per cent ahead of its Q1 earnings on Friday. Analysts' expectations is that most likely SpiceJet will report net loss for the April-June quarter of FY22 (Q1FY22), all eyes are now on the airline’s fundraising plans as well as growth in the cargo business during the Covid-hit period.
In an update on the primary market, the IPO by Aptus Value sailed through on last day of bidding process, garnering over 17 times subscription. Chemplast Sanmar too crossed past the finishing line, with over 2 times bids.
Now, going into trade on Friday, the focus will remain on the global cues and quarterly earnings results. AIA Engineering, Apollo Hospitals, Bayer CropScience, Petronet LNG and Sun TV are some of the companies slated to post their earning tomorrow. Further, Street will also react to the CPI and IIP numbers that are slated to be out later in the evening.
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