Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.
Domestic benchmark indices Sensex and Nifty edged higher on Friday (22 November) led by index heavyweights. The BSE Sensex zoomed 2,062 points or 2.6% and recorded an intraday high at 79,218.19. While the NSE Nifty was up 606 points or 2.5% above the 23,900 levels.
At the closing bell on Friday, the BSE Sensex stood higher by 1,961 points (up 2.5%).
Meanwhile, the NSE Nifty closed higher by 557 points (up 2.4%).
SBI, TCS and ITC were among the top gainers.
Bajaj Auto on the other hand, were among the top losers.
For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.
The BSE MidCap index ended 1.3% higher and BSE SmallCap index ended 1% higher.
Sectoral indices were trading positive with socks in media sector, realty sector and IT sector witnessing most buying speer.
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Torrent Pharma share price will be in focus today.
Shares of Torrent Pharma are higher by over 2.5% in trade on 22 November after the company informed of an Establishment Inspection Report (EIR) by the USFDA for its facility at Pithampur, Madhya Pradesh, stating that the company has initiated voluntary action.
The USFDA's Establishment Inspection Report (EIR) is a report summarizing the findings of an inspection at a facility, mentioning compliance issues if any, and discussions during the visit.
NLC India will also be a top buzzing stock.
Shares of NLC India climbed as much as 5% on 22 November after the company announced its emergence as the highest quoted (H1) bidder for the New Patrapara South Coal Mine in Odisha's Angul district.
The designation follows the commercial coal block e-auction conducted by the Ministry of Coal on 21 November.
BSE on 22 November said it will add Zomato to its benchmark index Sensex from 23 December and drop JSW Steel.
BSE also announced reconstitution of its other indices like BSE SENSEX 50, BSE SENSEX NEXT 50, and BSE 100.
BSE dropped Ashok Leyland, PI Industries, IDFC First Bank, IRCTC, UPL, and APL Apollo Tubes from BSE 100 and added Jio Financial Services, Suzlon Energy, Adani Green Energy, Adani Power, Samvardhana Motherson, and PB Fintech to the index, effective 23 December.
BSE also said that HDFC Life, BPCL and LTI Mindtree will be dropped from its BSE SENSEX 50 index from December 23 and replaced with Zomato, Jio Financial, and HAL.
BSE Ltd on November 22 announced the introduction of futures and options contracts on 43 individual stocks, including three Adani companies, Paytm, and Zomato.
These contracts will be available for trading effective on 13 December.
Adani Energy Solutions, Adani Green Energy, Angel One, APL Apollo Tubes, Adani Total Gas, Bank of India, CAMS, and CESC are some of them.
BSE's decision to expand its F&O offerings aligns with its strategy to increase investor participation and enhance market depth.
Domestic institutional investors (DIIs) net bought shares worth Rs 17.2 bn on 22 November, while on the other hand, foreign institutional investors (FIIs) net sold shares worth Rs 1,278 crore, provisional data from NSE showed.
During the trading session, DIIs bought Rs 122.5 bn in equities and sold shares worth Rs 105.3 bn, and FIIs purchased Rs 169.9 bn in shares while offloading equities worth Rs 182.6 bn.
For the year, FIIs have net sold Rs 2.9 trillion (tn), while DIIs have net bought Rs 5.6 tn worth of shares.
The biggest Nifty gainers were the State Bank of India, TCS, ITC, UltraTech Cement, and Titan Company. However, Bajaj Auto was the only loser. BSE Midcap index added 1.3% and Smallcap index rose nearly 1%.
Indian markets witnessed a significant broad-based rally, from oversold territory, largely led by large-cap stocks, as their valuations started to look attractive.
PVR Inox, India's largest film exhibitor, will have 2,000 screens by the year 2026 with more focus on expansion in the southern market's Tier II and III cities.
As of Q3FY25, the company's overall screen portfolio includes 1,747 screens in 356 cinemas across 111 cities in India and Sri Lanka.
It costs the cinema major Rs 4 bn in capital expenditure to open 100-120 screens.
These expansion plans come a year after PVR Cinemas completed its merger with the then-second-largest film exhibitor, INOX Leisure.
Right now, PVR Inox has the highest screen penetration in the southern market with 33% screens. This is followed by the northern region with 26% and the western region with 21%.
He noted that there are several cities untapped in the southern market due to which these locations have higher demand. Also, the region has a stable supply of films, which will help the company's overall business.
On Friday, PVR Inox announced a collaboration with Meta, RazorPay, and Jio Haptik to introduce Movie Jockey (MJ), an AI-powered chatbot on WhatsApp.
This tool will help moviegoers discover and book movies on WhatsApp 24x7 in multiple languages.
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