Mumbai
Stockmarket benchmark indices Sensex and Nifty rose for the third consecutive day on Friday to close at a more than three-week high, tracking a sharp rally in Bajaj Finance and foreign fund inflows.
The 30-share BSE Sensex climbed 166.49 points, or 0.21 per cent, to settle at over three-week high of 78,094.64 with 16 of its constituents closing higher and 14 with losses. During the day, it jumped 344.1 points, or 0.44 per cent, to 78,272.25. The 50-share NSE Nifty gained 66.45 points, or 0.27 per cent, to end at a three-week high of 24,383.60.
From the Sensex pack, Bajaj Finance jumped 8.11 per cent after the firm on Thursday reported a 28 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 6,081 crore for the June quarter of FY27, driven by growth in core income and improvement in asset quality.
Bajaj Finserv, Mahindra & Mahindra, Adani Ports, Tata Steel, Reliance Industries, Bharat Electronics and Titan were also among the winners. Tata Consultancy Services, Eternal, Infosys, ITC and InterGlobe Aviation were among the major laggards. Foreign Institutional Investors (FIIs) bought equities worth Rs 3,623.51 crore on Thursday, according to exchange data. “Positive momentum continued, although some profit booking emerged at higher levels as caution persisted amid elevated yields and potential rate-hike concerns. The sustainability of the recovery will depend largely on the ongoing earnings season, which is currently outperforming forecasts, and on a reduction in global risks,” Vinod Nair, Head of Research, Geojit Investments Limited, said. The domestic IT index witnessed profit booking following its recent rally, he added.
“Indian equity markets ended higher on a resilient note, brushing aside geopolitical concerns as strong corporate earnings and sector-specific buying offset worries over renewed US-Iran hostilities. The Nifty opened marginally higher, extending the previous session’s gains, and remained supported by earnings-driven optimism and a temporary revival in foreign institutional inflows,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Bajaj Finance’s valuation jumps
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53,325-cr
New Delhi:Shares of NBFC Bajaj Finance on Friday ended over 8 per cent higher after the firm reported a 28 per cent year-on-year rise in consolidated profit after tax (PAT) for the June quarter of FY27.
The stock surged 8.11 per cent to settle at Rs 1,141.70 on the BSE. During the day, it zoomed 9 per cent to Rs 1,151.20 -- the 52-week high level. At the NSE, the stock jumped 8.32 per cent to end at Rs 1,141.20. Intra-day, it soared 9.30 per cent to reach the 52-week high of Rs 1,151.50. The company’s market valuation surged by Rs 53,325.61 crore to Rs 7,10,817.51 crore. The stock was the biggest gainer among the Sensex and Nifty firms.