PSU bank stocks logged sharp gains. Vijaya Bank (up 15.33%), Indian Bank (up 14.18%), Dena Bank (up 12.43%), State Bank of India (SBI) (up 8.74%), Punjab National Bank (up 11.55%), Bank of Baroda (up 8.67%), Canara Bank (up 7.61%), IDBI Bank (up 5.85%), Bank of India (up 9.46%) and Union Bank of India (up 8.94%) gained.
Private bank stocks rose. HDFC Bank (up 2%), RBL Bank (up 1.96%), ICICI Bank (up 3.78%), Axis Bank (up 4%), IndusInd Bank (up 1.59%) and Yes Bank (up 6.53%) rose. Kotak Mahindra Bank shed 0.1%.
Realty stocks rose. DLF (up 6.92%), Indiabulls Real Estate (up 5.03%), Housing Development and Infrastructure (up 5.88%), D B Realty (up 5.88%), Unitech (up 2.83%), Sobha (up 0.7%), Oberoi Realty (up 1.42%) and Parsvnath Developers (up 5.01%) gained. Godrej Properties (down 2.79%), Prestige Estates Projects (down 3.88%) fell.
Parag Milk Foods rose 0.42% after consolidated net profit rose 47.8% to Rs 14.33 crore on 0.7% rise in revenue from operations to Rs 472.84 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 9 November 2016.
On the macro front, the figures for direct tax collections up to October 2016 show that net collections are at Rs 3.77 lakh crore which is 10.6% more than the net collections for the corresponding period last year. Till October 2016, 44.5% of the Budget estimates of direct taxes for financial year 2016-17 has been achieved.
The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to October 2016 show that net revenue collections are at Rs 4.85 lakh crore which is 26.7% more than the net collections for the corresponding period last year. Till October 2016, 62.4% of the Budget estimates of indirect taxes for financial year 2016-17 has been achieved.
In overseas stock markets, Asian stocks edged higher to join a global rebound on speculation Donald Trump will pursue business-friendly policies. Japan's Nikkei 225 surged 6.72%. US stocks rallied Wednesday, 9 November 2016, led by a surge in financial, health-care and industrial stocks, as investors bet on the infrastructure spending policy promised by President-elect Donald Trump. Trump was declared as the 45th President of the United States yesterday, 9 November 2016.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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