By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices today overcame previous losses and traded in the green supported by auto, IT, pharma, and metal stocks.
Nifty rose by 1.52% or 168.75 points and closed at 11,300.55, while S&P BSE Sensex was up by 1.47% or 558.22 points and closed at 38,492.95.
Around 1315 shares advanced, 1300 shares declined, while 151 shares remained unchanged.
UltraTech Cement (7.02%), Kotak Mahindra Bank (4.70%), Tata Motors (4.42%), TCS (4.69%), and Grasim Industries (4.59%) were among top Nifty losers. On the other hand, Bharti Infratel (1.62%), ICICI Bank (1.77%), ONGC (0.87%), Nestle (1.42%), and Asian Paints (1.22%) were among top Nifty losers.
All sectoral indices traded positive. BSE Midcap went up by 0.76% and BSE Smallcap rose by 0.61%.
Kotak Mahindra Bank
Stocks of Kotak Mahindra Bank went up by 4.70% and traded at Rs.1,384.75 as the bank's earnings for the first quarter of the FY21 remained stable.
Stocks of Marico Limited went up by 3.11% and traded at Rs.361.35 as the company reported robust earnings during the first quarter of the FY21. The company reported a growth of 23.2% in its consolidated net profit during Q1FY21.
M&M Financial Services Limited
The company opened its rights issue worth Rs.3,088.0 crore to repay certain outstanding borrowings. As a result, the stocks of the company went up by 4.74% and traded at Rs.134.90.
Stocks of Bharti Infratel went down by 1.62% and traded at Rs.191.10 as the company’s net profit declined by 21% during the first quarter of the FY21.
The stocks of Tech Mahindra went up by 3.66% and traded at Rs.688.85 after the company reported better than expected profits for the first quarter of the FY21. The net profit of the company rose by 20.9%.
Stocks of Tata Motors went up by 4.42% and traded at Rs.106.20 in today’s trading session. The company appointed Thierry Bollore as the CEO of Jaguar Land Rover.
Stocks of Havells India slipped down by 3.06% and traded at Rs.577.00 after the company’s consolidated net profit for the first quarter of the FY21 was down by 63.87%. The net sales of the company also declined by 45.4%.
The company that reported a one-time loss of Rs.157.4 crore, reported a consolidated net profit of Rs.797.00 crore during the first quarter of the FY21. The consolidated revenue reported by the company stood at Rs. 7,563 crore. The stock price of the company went up by 7.02% and traded at Rs.4,131.10.
Indian rupee ended flat in today’s trading session at Rs.74.83 against the US Dollar amid positive domestic equity markets.
Gold touched an all time high at Rs.52,435 in the domestic market. The yellow metal reached a lifetime high of USD 1981.10 per ounce in international markets.
Mixed Global Market Cues
The Asian as well as the European markets projected a mixed trend amid the rising US-China tension. Nasdaq went up by 1.67%, Hang Seng rose by 0.69%, while Nikkei 225 tripped down by 0.26%. On the other hand, FTSE 100 rose by 0.18% while FTSE MIB went down by 0.84%.