FINAL TRADE: Sensex rises 490 pts, Nifty settles at 19,133; Britannia up nearly 3%

Stock market today: The Indian equity benchmark indices on Thursday, November 2, edged higher amid strong global cues and broad-based sectoral participation. The US Federal Reserve's decision to keep the interest rate unchanged and the policy commentary, which hinted at an end to further rate hikes, boosted sentiment across markets.

At close, the S&P BSE Sensex closed higher by 0.77 per cent or 489.57 points, at 64,080.9, and the NSE Nifty settled higher by 0.76 per cent, or 144.1 points, at 19,133.25.

"Nifty ended the day on a positive note, with most sectors closed in green today. Notably, the Nifty Realty, Nifty PSU Bank, and Nifty Metal all outperformed today, closing positive. The Indian market largely gained as a consequence of the Federal Reserve keeping its benchmark lending rate between 5.25 per cent and 5.5 per cent, which helped the market close positively today despite the US economy indicating a rise in inflation and economic development. Right now, attention is on the October jobs data that is coming shortly. Financial circumstances have become extremely restrictive due to the recent increase in market-based interest rates, which may be partially compensating for the Fed's actions," said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio Ltd.

In the Nifty basket, 42 stocks finished above the flatline, with Britannia, Hindalco, IndusInd Bank, Apollo Hospitals, and Eicher Motors being the major winners, rising between 1.76-2.97 per cent for the day. Conversely, Hero MotoCorp, Bajaj Auto, HDFC Life, ONGC, and Adani Enterprises were the top laggards.

IndusInd Bank, Sun Pharma, and Tata Motors were the top stocks that supported the 30-scrip index.

Nifty Mid Cap 100 and Small Cap 100 ended above 1 per cent. 

High-beta Nifty Bank was also up 0.74 per cent at 43,017.2.

BUZZING STOCKS 

Sun Pharma Advanced Research Company's shares ended over 3 per cent higher after the company announced that it had agreed with Johns Hopkins University (JHU) and the Institute of Organic Chemistry and Biochemistry of the Czech Academy of Sciences (IOCB) to exclusively licence SCD-153.

REC Ltd shares were up nearly 7 per cent a day after the company announced its September quarter results along with a dividend payout.

Britannia shares were up nearly 3 per cent a day after it announced its Q2 results.

KEC Industries shares were up over 5 per cent continuing the rally for the second session in a row post Q2 results.

JK Tyre shares were up over 9 per cent higher a day after the company reported its Q2 numbers.

Netweb Technologies India shares ended over 7 per cent higher after its board approved a capital expenditure of Rs 23.4 crore.

Conversely, Syrma SGS Technology shares slipped over 12 per cent a day after the company announced its Q2 numbers.

Gujarat Mineral Development Corporation shares traded over 7 per cent lower after posting a weak Q2.

GLOBAL MARKETS 

Asian shares were mostly higher Thursday after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy. Japan's benchmark Nikkei 225 gained 0.9 per cent to 31,899.00.

Australia's S&P/ASX 200 jumped 1.1 per cent to 6,910.10. South Korea's Kospi surged 1.8 per cent to 2,342.87.

Hong Kong's Hang Seng added 1.2 per cent to 17,296.34, while the Shanghai Composite edged 0.1 per cent higher to 3,026.32.

(with agency inputs)

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