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The S&P BSE Sensex was ruling over 400 points or over 1 per cent higher at 37,812 levels while the NSE’s Nifty50 was trading 109 points or 1 per cent higher at 11,132 points.
Among individual stocks, Maruti Suzuki was up 3.7 per cent and was the top gainer on the Sensex, followed by HDFC, and ICICI Bank, uo 3 per cent each.
Meanwhile, Vodafone Idea tanked 9 per cent in the intra-day trade after the Supreme Court reserved its order in the AGR case, READ HERE
On the sectoral front, all the indices on the NSE were trading in the green. Nifty PSU Bank was up over 2 per cent at 1,472.40 levels.
In the broader market, the S&P BSE MidCap index gained 0.78 per cent higher at 13,761 levels while the S&P BSE SmallCap index was trading at 13,020, up 0.8 per cent.
Results today
Over 60 companies, including Hindustan Unilever (HUL), Axis Bank, Bajaj Finance, Crisil, IndiaMART InterMESH, Polycab, and SBI Life, among others are slated to release their June quarter results later in the day.
is likely to witness a revenue decline of 2.4 per cent year-on-year (YoY) at Rs 9,872.8 crore, including acquired company’s sales. Though the company was able to start manufacturing in mid-April, it only reached the previous year’s levels by June 2020. The stock was trading nearly 0.5 per cent higher at Rs 2,341.35 ahead of its result.
Axis Bank is scheduled to report its June quarter earnings later today. Owing to the Rs 7,730.02 crore provisions set aside in the March quarter of FY20, analysts expect lower sequential provisioning in the quarter under review. Besides, loan growth may be tepid due to loss of business amid Covid-19 induced nationwide lockdown. READ MORE
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