Friday the thirteenth turns myth: Archies locks at upper circuit before earnings!

‘Friday, the thirteenth’ has surprisingly turned out to be a fantastic Friday for the Indian benchmark indices with Sensex trading above 55,100 for the first time in the history, along with Nifty, which is also trading above 16,450 levels for the first time.  

The D-Street, which seemed to be in a concerning mode a couple of days ago on the back of BSE Circular is seen celebrating with high-fives and fist bumps.   

The broader markets are also seen buying interest on Friday with Nifty Midcap 100 and Smallcap 100 adding 0.29 per cent & 0.37 per cent, respectively.   

Though Friday, the thirteenth is supposedly an ominous day but the market is surprisingly making history on this day. However, this Friday is going to be one of the busiest days as far as the earning season is concerned as more than 800 BSE-listed companies are going to announce their results today.    

Out of the companies that are scheduled to announce their earnings today, the majority of them belong to the mid and small-cap category. Many of these stocks are seen buzzing in today’s session ahead of their results; for example, the stock of Archies got locked at its upper circuit. Besides, Godrej Industries is also seen buzzing as it gained over 2 per cent while Grasim Industries is seen trading with modest gains of half a per cent.   

So, earnings season is likely to keep traders and investors on the edge of their seats!