End-Session

The equity benchmarks rose for the seventh consecutive session and settled at record closing levels on Monday. The gains were powered by metals, power and IT stocks.

The S&P BSE Sensex jumped 459.64 points or 0.75% to 61,765.59. The Nifty 50 index gained 138.50 points or 0.76% at 18,477.05.

The Nifty hit a record high of 18,543.15 and the Sensex hit an all time high of 61,963.07 in afternoon trade.

Infosys (up 4.47%), Tech Mahindra (up 3.36%), Tata Steel (up 2.73%) and TCS (up 1%) supported the indices.

In the broader market, the S&P BSE Mid-Cap index rose 0.95%. The S&P BSE Small-Cap index gained 0.69%.

Buyers outnumbered sellers. On the BSE, 1830 shares rose and 1616 shares fell. A total of 178 shares were unchanged.

The NSE's VIX index, a gauge of market's expectation of volatility over the near term, jumped 8.99% to 17.185.

High-paced vaccination drive, reviving economies across the world and RBI's dovish stance boosted sentiment. However, rising global crude oil prices and a weak domestic currency continued to worry investors.

The Sensex has risen 4.35% and the Nifty has advanced 4.71% in seven consecutive sessions.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement fell 0.06% to Rs 47,185.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.385% as compared with its previous closing of 6.328%.

In the commodities market, Brent crude for December 2021 settlement rose 92 cents or 1.08% to $85.78 a barrel.

In the foreign exchange market, the partially convertible rupee fell to 75.35 from its previous closing of 75.2650.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.21% to 94.15.

Global Markets:

US Dow Jones index futures fell 101 points, indicating a weak opening in the US stocks today.

European stocks fell across the board while most Asian stocks declined on Monday, 18 October 2021, as global markets geared up for big earnings reports.

China's economic growth continued to decelerate in the third quarter, as gross domestic product came in at 4.9%, softened by the country's zero-tolerance COVID measures and energy shortages.

The figure slid from 7.9% for the April-to-June quarter, weighed down by high commodity prices amid uncertainty kindled by the Evergrande Group's debt crisis, which is piling risk onto the property and banking sectors.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 24,06,65,365 with 48,98,487 deaths. India reported 1,89,694 active cases of COVID-19 infection and 4,52,290 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 97,74,54,119 COVID-19 vaccine doses have been administered in the country so far, with over 12.02 lakh doses being given yesterday, according to the Co-WIN dashboard.

Stocks in Spotlight:

HDFC Bank fell 0.93%. The bank's net profit rose 17.59% to Rs 8834.31 crore on 7.44% increase in total income to Rs 38,754.16 crore in Q2 September 2021 over Q2 September 2020. Net interest income (interest earned less interest expended) for the quarter ended 30 September 2021 grew by 12.1% to Rs 17,684.4 crore from Rs 15,776.4 crore for the quarter ended 30 September 2020. Core net interest margin was at 4.1%.

HCL Technologies shed 2.36%. The IT major reported 1.7% rise in consolidated net profit to Rs 3,259 crore on a 2.9% increase in revenue from operations to Rs 20,655 crore in Q2 FY22 over Q1 FY22. As compared with Q2 FY21, the company's net profit and revenues are higher by 3.7% and 11.1%, respectively.

In constant currency terms, the IT company's revenues grew by 3.5% quarter-on-quarter (QoQ). HCL expects revenue to grow in double digits in constant currency for FY22. EBIT margin is expected to be between 19.0% and 21.0% for FY'22.

Avenue Supermarts (DMart) dropped 8.16%. The company posted a 110% jump in consolidated net profit to Rs 418 crore on 46.8% increase in revenue from operations to Rs 7,789 crore in Q2 FY22 over Q2 FY21. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY22 stood at Rs 669 crore, as compared to Rs 330 crore in the corresponding quarter of last year, registering a rise of 102.7%. EBITDA margin improved to 8.6% in Q2FY22 as compared to 6.2% in Q2FY21.

Ultratech Cement fell 0.08%. The cement maker's consolidated net profit rose 0.38% to Rs 1,314 crore on 14.41% increase in net sales to Rs 11,743 crore in Q2 September 2021 over Q2 September 2020. Profit before tax (PBT) rose 12.35% to Rs 1,947 crore in Q2 September 2021 over Q2 September 2020. Profit before interest, depreciation & taxes (PBIDT) rose 0.78% to Rs 2855 crore during the period under review.

Cyient rose 2.98%. The company's consolidated net profit added 5.47% to Rs 121.30 crore on a 5.04% increase in revenue from operations to Rs 1,111.60 crore in Q2 FY22 over Q2 FY22.

On a year-on-year (Y-o-Y) basis, the company's consolidated net profit jumped 44.57% while revenue from operations surged 10.79% in Q2 FY22.

During the quarter, the group EBIT margin stood at 14%, leading its highest ever operating profit. The order intake grew by 23% Y-o-Y. The offshoring was at 50%, its highest in the past ten quarters.

Indiabulls Real Estate jumped 6.43%. The real estate company posted a consolidated net profit of Rs 5.53 crore in Q2 FY22 compared with net loss of Rs 76.13 crore in Q2 FY21. Revenue from operations soared 1632% to Rs 349 crore in Q2 FY22 from Rs 20.15 crore registered in Q2 FY21.

The company's consolidated debt net of cash and liquid investments stood at Rs 967 crore as on 30 September 2021 as compared to Rs 2,025 crore as on 21 March 2020 wherein total sold receivables and completed inventory in hand was at Rs 3,369 crore as on date.

Mahindra CIE Automotive (MCIE) jumped 4.90% after the company's consolidated net profit surged 173.73% to Rs 166.32 crore on 23.40% increase in net sales to Rs 2,090.69 crore in Q3 September 2021 over Q3 September 2020. Profit before tax jumped 91% to Rs 179.04 crore in Q3 September 2021 over Q3 September 2020.

Antony Waste Handling Cell tumbled 10.78%. The company said that the Income Tax Department conducted a search at the company's premises and that of three of its subsidiary companies. The search proceedings were concluded on 15 October 2021, the company said.

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