By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian indices ended marginally higher despite trading in the red during the day with gains led by the banking and auto stocks.
Nifty rose by 0.05% or 5.80 points and closed at 11,472.25, while S&P BSE Sensex went up by 0.12% or 44.80 points and closed at 38,843.88.
Around 1192 shares advanced, 1419 shares declined, and 104 shares remained unchanged during today’s trading session.
Tata Motors (5.32%), Bajaj Finance (4.75%), SBI (3.38%), Tech Mahindra (2.28%), and Eicher Motors (2.18%) were among top Nifty gainers, while GAIL (1.72%), NTPC (1.52%), Sun Pharma (1.40%), Tata Steel (1.29%), and Dr Reddy’s Laboratories (1.17%) were among top Nifty losers for the day.
Except for banking and auto, all the other sectoral indices traded weakly. BSE Midcap and BSE Smallcap showed marginal gains of 0.51% and 0.11% respectively.
Tata Motors
The stocks of Tata Motors went up by 5.32% and traded at Rs. 127.65 after the company’s Chairman N Chandrasekaran stated that the company has the target of achieving zero net debt within next three years. The net automotive debt of the company stands at Rs.48,000 crore.
Phoenix Mills Limited
The company’s 10% equity, i.e1.5 crore shares worth Rs.1055 crore changed hands in multiple block deals at a share price of Rs.667 per share after which the shares of the company declined by 10.24%. The share traded at Rs. 651.00 in today’s trading session.
Procter & Gamble Hygiene and Health Care
The Q4 net profit of the company during the FY20 rose by 13.8% at Rs.69.2 crore while the company’s revenue declined to Rs.634.5 crore. The stocks of the company rose by 1.36% and traded at Rs.10,300.00.
Allcargo Logistics Ltd.
The company informed the exchanges that its promoters intend to delist the equity shares of the company from both the exchanges after which the stocks of the company surged by 19.98% and traded at Rs.130.60.
LIC Housing Finance
Stocks of LIC Housing Finance traded higher by 8.08% at Rs.298.95 after the company reported a jump of 34% in its net profit for the June quarter during the FY21. The company’s net profit rose to Rs.817.48 crore.
Max Financial Services Ltd
Private sector lender Axis Bank reported deal terms of its proposed joint venture with the company where the private sector lender will acquire a 17% stake in the company. The stocks of the company went up by 12.75% and traded at Rs.619.50.
Indian Rupee
Indian rupee ended flat at Rs.74.83 against the US Dollar amid the fluctuating domestic equity markets.
Positive Global Market Cues
European and Asian indices traded in the green except for Hang Sang that declined by 0.26%. Advancement towards the development of the coronavirus vaccine resulted in positive sentiments among investors. Nasdaq went up by 0.60%, Nikkei 225 rose by 1.35%, FTSE 100 went up by 0.24% and FTSE MIB surged by 0.93%.
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