By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices ended in the green for the fifth consecutive day led by gains in select heavyweights.
Nifty went up by 0.08% or 9.65 points and closed at 11,559.25, while S&P BSE Sensex rose by 0.10% or 39.55 points and closed at 39,113.47.
IndusInd Bank (6.53%), Tata Motors (4.13%), M&M (4.18%), SBI (2.93%), and Grasim (2.52%) were among top Nifty gainers, while ONGC (1.29%), Bajaj Auto (1.27%), Reliance Industries (1.37%), Zee Entertainment (1.18%), and Coal India (0.99%) were among top Nifty losers.
Oil & Gas, Telecom, Utilities, and FMCG sectors ended in the green. BSE Midcap rose by 0.01% and BSE Smallcap went up by 0.35%.
IndusInd Bank
Global financial firm UBS upgraded the stocks rating to ‘buy’ from ‘sell’ after which the shares of the company went up by 6.53% and traded at Rs.604.70.
VA Tech Wabag Ltd
The water management company raised Rs.120 crore from marquee investors through preferential issue of equity shares priced at Rs.160 per share. Stocks of the company, however, declined by 1.76% and traded at Rs.209.55.
Ramco Systems
HDFC Mutual Fund acquired 1.57 lakh shares of the company at Rs.240 per share buying 0.51% stake in the company after which the stocks of the company surged by 4.99% and traded at Rs. 257.75 in today’s trading session.
Hindustan Aeronautics and Bharat Dynamics
The Government of India announced its plans of selling stake in both the companies through an offer for sale (OFS) in the second quarter of the fiscal year after which the shares of both the companies declined. Stocks of Hindustan Aeronautics declined by 14.23% and traded at Rs.1,010 while stocks of Bharat Dynamics tripped down by 3.79% and traded at Rs. 413.25.
Dilip Buildcon Ltd.
The company received a letter of acceptance for Rs.1,278 crore project in Karnataka for a new HAM project that includes 4-laning from 42 km to 80 km. The stocks of the company surged by 1.89% and traded at Rs.399.50.
Blue Star Ltd
The company bagged an order worth Rs.149 crore for Electrical and Mechanical works. The order was bagged for Mumbai Metro Line III. As a result, the stocks of the company went up by 8.98% and traded at Rs.677.50.
Indian Rupee
Indian rupee ended at its highest level at Rs.73.81 against the US Dollar amid buying in the domestic equity markets.
Global Markets ended weak
US stocks ended higher as investors focused on large-cap momentum stocks that outperformed since the outbreak of COVID-19. Nasdaq, as a result, rose by 1.73%. However, Asian and European stocks ended in the red. Nikkei 225 declined by 0.35%, Hang Seng went down by 0.83%, while FTSE 100 and FTSE MIB fell down by 0.25% and 0.63% respectively.
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