Sensex Today Rallies 635 Points | Jubilant Pharmova Surges 16% | 3 Reasons Why Indian Share Market is Rising

Fri, 27 Oct Closing

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After opening the day on the positive note, Indian share markets continued the momentum as the session progressed and ended the day on firm footing.

Equity benchmark indices rebounded on Friday after facing massive drubbing of late amid recovery in Asian markets.

At the closing bell, the BSE Sensex stood lower by 634.7 points (up 1%).

Meanwhile, the NSE Nifty closed higher by 190 points (up 1%).

Axis Bank and Coal India were among the top gainers today.

UPL and Asian Paints, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 19,126, up by 213 points, at the time of writing.

The BSE MidCap index rose 1.7% while the BSE SmallCap index ended 1.9% higher.

Sectoral indices ended higher with stocks in the power sector, energy sector and realty sector witnessing most buying.

Shares of Maruti Suzuki and Angel Broking hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended on positive note. The Shanghai Composite rose 1% while the Nikkei rose 1.3%.

The rupee is trading at 83.24 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 60,902 per 10 grams.

Meanwhile, silver prices were trading 0.1% higher at Rs 71,624 per 1 kg.

Here are three reasons why Indian Markets were rising today.

#1 Global markets

Asian markets closed with noteworthy gains today led by Hong Kong's hang Seng index, which gained 2 per cent. That apart, Japan's Nikkei added 1.3%, Australia's ASX200 added 0.2%, and South Korea's Kospi gained 0.2%.

In Europe, stocks had a mixed open Friday, with earnings and the state of the global economy keeping sentiment on edge.

Futures on Wall Street, too, were showing signs of a positive start, after an overnight selling on Thursday, with Nasdaq Futures ruling 1% higher in pre-market deals.

S&P500 and Dow Jones futures, too, advanced up to 0.6%.

#2 Decline in bond yields

Yields on 10-year Indian government securities eased to 7.3% intraday on Friday, down from Thursday's close of 7.4%.

Yields across Japan, the UK, France, and Germany also dipped in the range of 0.3% even as 10-year US Treasuries were hovering at 4.9%.

#3 Buying in heavyweights

Index heavyweights such as Axis Bank, HCL Technologies, State Bank of India (SBI), Tata Motors, Reliance Industries, Infosys, Maruti Suzuki, Larsen and Toubro (L&T), Bajaj Finance, and Bharti Airtel surged between 1% and 3%.

Shares of Maruti Suzuki India (MSIL), for instance, jumped 4% higher on the BSE to hit an all-time high of Rs 10,846.1 in Friday's intraday trade after the company reported a sharp 80% growth in net profit for the September quarter (Q2FY24).

Maruti said it recorded the highest-ever quarterly sale volume, net sales and net profit for the quarter.

Speaking of stock markets, what do you feel about buying a stock that's trading at a PE multiple of 85x?

Well, for value conscious investors like Co-head of Research at Equitymaster, Rahul Shah, who believe in following rules and having strict upper limits for valuations, I will simply give the stock a pass.

A PE of 85x is quite high and does not offer margin of safety of any kind.

However, there are a few exceptions to this rule. Is the fertiliser company FACT one such exception? Or is the stock price in a bubble?

Find out more in the below video:

Why Railtel's Share Price Is Rising

In news from the railway sector, RailTel was trading almost 3% higher on 27 October 2023 morning, a day after the state-owned railway company reported a 23.4% growth in profit in the September quarter of the current financial year.

RailTel reported a net profit of Rs 681.5 m and a revenue growth of 40% at Rs 59.9 bn.

Net sales were up 40.9% at Rs 599.15 crore. Earnings before interest, taxes, depreciation and amortisation stood at Rs 1.3 bn, up 15.9% from Rs 1.1 bn in the last fiscal.

RailTel is a state-owned telecom infrastructure provider with a focus on developing a nationwide broadband telecom and multimedia network in all parts of the country in addition to the modernisation of train operations and administration network systems.

Earlier this month, RailTel bagged an order worth Rs 68 crore for the design, supply, installation, testing, commissioning, and operations and maintenance of a data centre and disaster recovery centre for the Integrated Command and Control Centre for Jammu Smart City.

Railtel Corporation of India is one of the largest telecom infrastructure providers in the country. It is owned by the Government of India under the Ministry of Railways (MoR).

Over six months they have been trading higher by 98%. Take a look below.

For more, check out Why Railtel Share Price is Rising.

NBCC Sells Commercial Space In Delhi

Moving on to news from the real estate sector, state-owned construction firm NBCC (India) Ltd on Friday said it has sold nearly 4 lakh square feet of commercial space at the World Trade Centre in Nauroji Nagar, South Delhi for Rs 15.6 bn through an auction.

NBCC conducted the 21st auction for the sale of commercial space in the World Trade Centre, Nauroji Nagar.

Out of the total area sold, 297,000 square feet having a sale value of Rs 11.8 bn have been sold to private entities.

So far, NBCC has sold a total unsold commercial inventory of 21.7 lakh square feet through an open e-auction having a sale value of Rs 87.6 bn.

The housing and Urban Affairs ministry has appointed NBCC as implementing agency for the re-development of Nauroji Nagar. NBCC is authorized to market the commercial space on a freehold basis.

Smallcaps can hold tremendous growth potential, especially when backed by solid financial foundations. NBCC is one among them.

For more, check out Top 5 Cash-Rich Smallcap Stocks to Add to Your Watchlist.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers