By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian Indices traded positive for the second consecutive day with gains being led majorly by the IT, Pharma, and banking shares.
Nifty went up by 1.15% or 121.75 points and closed at 10,739.95, remaining above the 10,500 mark, while S&P BSE Sensex surged by 1.16% or 419.87 points and closed at 36,471.68.
Around 1058 shares advanced, 1512 shares declined, while 158 shares remained unchanged.
Infosys (9.51%), BPCL (6.90%), Cipla (5.55%), M&M (3.42%), and Britannia Industries (3.64%) were among top Nifty gainers, while Bharti Infratel (7.04%), Tech Mahindra (2.66%), ITC (2.44%), Zee Entertainment (2.22%), and IOC (1.93%) were among top Nifty losers.
BSE Midcap gained 0.50% while BSE Smallcap declined marginally by 0.23%. All the sectoral indices traded positive.
Bajaj Consumer Care Ltd.
Stocks of Bajaj Consumer Care Ltd. went up by 19.98% and traded at Rs.180.45 in today’s trading session even though the company’s net profit went down by 4.3% and revenue was down by 18%.
Titagarh Wagons Ltd.
Stocks of Titagarh Wagons Ltd. went up by 4.99%% and traded at Rs.41.05 after the company acquired the shares previously held by Matiere S.A.S France.
Infosys’ quarter 1 earnings for the FY21 exceeded the estimates across all fronts. As a result, shares of the company went up by 9.51% and traded at Rs. 910.00 in today’s trading session.
Cadila Healthcare Ltd.
The company received the USFDA approval for its SANDA (Supplemental Abbreviated New Drug Application) named Doxycycline Injection USP, 100mg per Vial. The stocks of the company went up by 1.96% and traded at Rs.361.50 in today’s trading session.
Stocks of L&T went up by 0.80% and traded at Rs.919.50 after the company reported better than expected performance in the first quarter of the FY21. The net profit of the company, however, declined by 2.6% and the revenue fell by 2.1%.
SBI Cards and Payment Services Ltd.
Stocks of SBI Cards and Payment Services Ltd. went up by 3.72% and traded at Rs.717.95 after the company announced the resignation of its MD and CEO, Hardayal Prasad.
Stocks of Yes Bank went down for the sixth consecutive day by 6.36% and traded at Rs.19.15 despite the company made an announcement to raise funds by issuing fresh equity shares through its FPO.
Rupee ended marginally lower amid buying in the domestic equity market at Rs.75.19 against the US Dollar.
The yellow metal traded flat in today’s trading session with negative bias on the MCX. The movement in the price was supported by the rising number of COVID-19 cases and the trade tensions prevailing between US and China.
Weaker Global Market Cues
European markets traded negative as FTSE 100 declined by 0.54% and FTSE MIB went down by 0.02%. Global markets traded negative in today’s session owing to the rising concerns over US-China trade tensions and increasing COVID-19 cases. Nasdaq went up by 0.59%, while Nikkei 225 went down by 0.76% and Hang Seng went down by 2.00%.