Stock market LIVE: Nifty, Sensex end up over 1.4 pct as SBI, Indusind stocks gain; RJD tweets to assure supporters; BJP+ leads in 124 seats, RJD+ 110 seats, others 9

Stock market LIVE: BSE Sensex and NSE Nifty hit record highs on Tuesday, following a rise in shares of companies such as airlines and hotels that are expected to benefit from a return to normalcy, as investors across the world cheered progress in the development of a coronavirus vaccine. Another trigger may well be the ongoing Bihar assembly election - counting of votes is on and now, NDA has pulled ahead after having been behind ine early trends. However, ally CM Nitish Kumar led Janata Dal United is lagging due to the impact of LJP, which is playing the role of a vote breaker for JDU.

Latest Updates Below:

5.05 PM: BJP+ ahead on 124 seats while RJD+ numbers at 110 and 9 others

3.40 PM: Nifty 50 end up 1.3 pct while sensex up 1.6 pct. SBI, Babaj Finance, Bajaj Finserv, LT gain. RJD Tweets to assure supporters. BJP+ maintains leads

2.40 PM: BJP+ ahead on 128 seats while RJD+ numbers at 104

12.57 PM: As the trends are coming in from polling centres, the BJP is emerging as the single-largest party in the state. Meanwhile, Congress seems not being able to repeat its 2015 performance of 27 seats and the Mahagathbandhan is behind the NDA.

Congress leaders have been maintaining that there is still a lot of steam left in the results as only 20 per cent votes only counted as against over 4 cr cast.

12.40 PM: BJP seems to have almost secured the single-largest party position in Bihar Assembly polls with trends showing it has an edge over the key opposition party RJD with a big gap, leading the NDA above the half-way mark in a close contest with Grand Alliance or the Mahagathbandhan (MGB), PTI reported.

Latest Election Commission results showed the Bharatiya Janata Party`s (BJP) lead on 73 out of 242 seats, taking the count of the National Democratic Alliance (NDA) to 127. The ruling NDA`s partner JDU, led by Chief Minister Nitish Kumar, is leading on 47 seats with its partners Vikassheel Insaan Party (VIP) on seven seats and no improvement in former Bihar Chief Minister Jitan Ram Manjhi`s Hindustani Awam Morcha (HAM).

12:06 PM:  BJP+ ahead on 128 seats while RJD+ numbers at 100; other at 13

11:50 AM: BJP+ ahead on 132 seats while RJD+ numbers drop belo three figure mark

11:35: Lead widens as BJP+ ahead on 128 seats while RJD+ ahead on 105 assembly seats 

11:05 AM: The top gainers on Nifty 50 are Indusind Bank, Bajaj Finance, SBI, LT and ICICI Bank. Top Losers include Cipla, Tech Mahindra, Infosys, HCL Technologies and Nestle India. As for Sensex Top gainers include Bajaj Finance, Bajaj Finserv, Indusind Bank, LT and SBI. Top losers are Tech Mahindra, Infosys, HCL Technologies, Nestle India, TCS.

10:50 AM: The BJP+ alliance was leading 119 seats while the RJD+ alliance was leading in 106 seats while the Others were leading in 10 seats.  

10:40 AM: The December Gold Futures were up by 1 per cent on MCX from the last close on Monday, trading at Rs 50,313. Meanwhile Silver Futures were up 2 per cent Rs 62,190. Oil Futures were down by almost 1.7 per cent trading at Rs 2949.

10.30 AM: The NDA alliance is slowly inching ahead and closed the gap with Tejashwi Yadav-led Grand Alliance shortly after the counting of votes polled in 243 constituencies in the three-phased Bihar assembly election 2020 began at 55 centres on Tuesday (November 10, 2020) under the watchful eyes of the Election Commission and amid strict COVID-19 safety protocols.

10.20 AM: Morgan Stanley says the target multiple of Pfizer is at a slight discount to the peer average of 13x, which Morgan Stanley believes is warranted due to slightly lower growth prospects. Pfizer / BioNTech announced that its Covid-19 vaccine achieved >90% vaccine efficacy in preventing Covid infections based upon the first interim efficacy analysis of 94 confirmed cases, conducted on Nov 8. The efficacy is stronger than anticipated.

10.15 AM: CLSA increased their FY21-23CL EBITDA by 6-16%, raised target price to Rs 102 from Rs 94 and reiterated their BUY rating. Ashok Leyland’s Q2 FY21 results were better than consensus and CLSA’s estimates. EBITDA margin was at 2.8% (+430 bps vs CLSA expectations) driven by better than expected gross margins as well as lower employee and other expenses.

10.10 AM: CLSA reiterates Buy rating on Hindalco, lifts their target price to Rs 270 from Rs 225 partly offset by lower consideration from the sale of assets. Novelis reports robust Q2 results; realisation from divestment disappoints Novelis (100% sub of Hindalco) reported Q2 underlying EBITDA of U.S. $443 mn (+39% vs CLSA) on strong profitability (U.S. $493/T) and higher volumes (+11% YoY).

10.05 am: The ruling NDA forged ahead of Challenger Grand Alliance in Bihar on Tuesday, leading in 32 of the 54 seats from where trends were available till 10 am.

9.45 AM: The Election Commission website said the NDA candidates were leading in 32 seats while the opposition alliance was ahead in 21. The BSP candidate was ahead in one seat.

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9.40 AM: The BJP was leading the table with 20 seats, its allies JD(U) in nine and VIP (three). RJD nominees were ahead of their rivals in nine constituencies and alliance partners Congress (7), CPI-ML (4) and CPI-M (1). Ace shooter and BJP nominee Shreyasi Singh was leading her rivals in Jamui.