Markets End Samvat 2076 On A Positive Note; Nifty Holds Above 12700 Levels

Indian indices swung between gains and losses to close Samvat 2076 on a positive note. Nifty closed at 12720, up 29 points or 0.23 percent, while Sensex ended almost 86 points higher at 43443 points.The gains were seen even as the coronavirus situation world over is getting alarming.

In trade today, stocks that emerged as top gainers on the Nifty are Eicher Motors, Coal India, Bajaj Finserv, Tata Steel and Divis Labs. On the other hand, losers during the day were Tata Motors, Larsen, HDFC, HDFC Life and UPL.

Markets End Samvat 2076 On A Positive Note; Nifty Holds Above 12700 Levels

Future Retail scrip traded marginally weak after the company reported a record Rs. 692 crore loss for the September ended quarter. In the same quarter a year ago, the company posted a profit of Rs. 165 crore. Revenue went down 74 percent at Rs 1,424 crore against Rs 5,449 crore(YoY).

Eicher Motors after declaration of its Q2 results traded strong and hit a fresh 52-week high of Rs. 2574 per share on the NSE. The company posted a 40 percent decline in its consolidated net profit at Rs. 343.34 crore in September quarter.

After reporting Sept. earnings, InfoEdge India also hit a fresh high as the company recorded sequential gains in billing of as much as 32%.

Meanwhile, Asian indices closed weak on fear of worsening coronavirus situation globally, with Japan's Nikkei down 0.5%, Hong Kong's index falling 0.1% and Australia's S&P/ASX 200 ended 0.2% lower. Nonetheless, at the time of writing this piece, European markets were up in trade.

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