Stocks

Sensex rallies 376 points higher led by banking, financials stocks

BL Internet Desk October 27 | Updated on October 27, 2020 Published on October 27, 2020

Nifty ends 121 points higher at 11,889.40

Key indices moved up higher after opening flat on Tuesday mailnly led by banking, automobile, FMCG and financial services sector stocks.

The BSE benchmark Sensex ended higher by 376.60 points, or 0.94%, at 40,522.10.

The benchmark had touched a low of 39,978.39 in the opening trading session, but steadily improved on buying support.

On the NSE, the Nifty too rebounded from an initial low of 11,723, and touched a high of  11,899.05 before settling at 11,889.40, gaining 121.65 points over its previous close of 11,767.75.

Indices were led by gains in index-heavyweights such as Kotak Bank, NTPC, Nestle, Asian Paint, Bajaj Auto, UltraCem Co, L&T and Tech Mahindra amid negative trend in other Asian markets.

Kotak Bank surges 12 per cent on heavy buying

Shares of Kotak Mahindra Bank gained 12 per cent today after the company reported a 22 per cent growth in consolidated net profit for the July-September quarter.

The stock jumped 12.17 per cent to Rs 1,588.00 on the BSE.

At the NSE, it zoomed 11.70 per cent to Rs 1,582.

Despite a marginal dip in loan book, reliance on credit substitutes in a market impacted by slowing economic growth helped Kotak Mahindra Bank report a 22 per cent growth in consolidated net profit at Rs 2,947 crore for the July-September quarter.

On the BSE, out of 2,835 shares traded today, advancing scrips were lower at 1,279 as compared to the decliners at 1,374.

Also read: Companies and stocks to watch: October 27, 2020

 

Broker’s call: Asian Paints (Buy)

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Published on October 27, 2020
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