After opening on a negative note, share markets in India witnessed buying interest during closing hours and ended the day on a positive note. Sectoral indices were trading on a positive note with stocks in the oil & gas sector and capital goods sector leading the gains.
At the closing bell, the BSE Sensex stood higher by 331 points (up 1%) and the NSE Nifty closed up by 100 points (up 0.9%). The BSE Mid Cap index ended the day up 0.3%, while the BSE Small Cap index ended the day up by 0.2%.
The rupee was trading at Rs 72.65 against the US$.
Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.6% and the Shanghai Composite was up by 0.9%. The Nikkei 225 was down by 2.1%. European markets were trading on a positive note. The FTSE 100 was up by 0.2%. The DAX was up by 0.5%, and the CAC 40 was up by 0.2%.
Bank of India share price, Tata Steel share price, Sun Pharma share price, Apollo Tyres share price, Dilip Buildcon share price, Glenmark Pharma share price, and NMDC share price were among the stocks in focus today as these companies announced their quarterly results today.
Speaking of quarterly result announcements, there is typically a big contrast between quarterly and annual earnings performance of companies and the extent to which they find favour among investors.
Over the last two months, for instance, stocks of companies that showed earnings recovery in September quarter, were as beaten down from 52-week highs as the stocks that underperformed in earnings.
Follow the Quarterly Result Investing Herd at Your Own Risk
Beware of following such herds.
Instead, stick to the best safe stocks in the market.
From the pharma space, Cipla share price was also in focus today as the company announced that its subsidiary InvaGen Pharmaceuticals Inc has entered into definitive agreements to acquire US-based speciality business firm Avenue Therapeutics for up to US$ 215 million.
