The domestic equity benchmarks firmed up once again in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 269.36 points or 0.53% to 50,674.68. The Nifty 50 index rose 89.55 points or 0.60% to 15,027.65.
The broader market was trading higher. The S&P BSE Mid-Cap index advanced 0.48%. The S&P BSE Small-Cap index gained 1.03%.
Buyers outnumbered sellers. On the BSE, 1782 shares rose and 1258 shares fell. A total of 218 shares were unchanged.
Numbers to Track:
In the commodities market, Brent crude for May 2021 settlement rose 49 cents to $69.85 a barrel. The contract gained 3.92% or $2.62 to settle at $69.36 a barrel in the previous session.
Market Movers: Why oil explorers gained; 83 stocks send sell signals
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Buzzing stocks: The week that was: Hindustan Copper surges 74% in a week; auto, IT heavyweights among top losers
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Which companies saw a turnaround in Q3 earnings
It would be wise to consider sustainability of earnings before jumping the gun
In the recent December quarter results, we saw a steep recovery in the earnings of India Inc a jump of 52.4 per cent y-o-y. Consequently, analyst and the investor communities have assigned significant re-rating to the earnings multiples of these companies.
The quarter also saw a surge in the turnaround cases. Of the constituents of the BSE 500 index, 30 companies reported profits, out of the 43 companies that saw net losses in the December 2019 quarter. For most DIY investors, this sure would deem an interesting entry point into these stocks.
Sensex nosedives over 800 pts, investors lose Rs 1 38 lakh crore in 30 minutes
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