By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices ended positive in today’s trading session led by banking and energy stocks.
Nifty rose by 0.53% or 59.40 points and closed above the 11,300 mark at 11,371.60, while S&P BSE Sensex went up by 0.56% or 214.33 points and closed at 38,434.72.
NTPC (5.09%), Powergrid (4.64%), Asian Paints (4.43%), Hero MotoCorp (2.43%), and HDFC Bank (2.52%) were among top Nifty gainers, while Zee Entertainment (3.71%),Hindalco (1.61%), ONGC (1.10%), Bharti Airtel (1.25%), and Tata Steel (0.99%) were among top Nifty losers.
BSE Midcap went up by 0.57% and BSE Smallcap rose by 1.41%.
Aarti Industries Ltd
The Board of Directors of the company approved the issuance of fully paid-up bonus shares after which the stocks of the company surged by 9% in the intraday deals. The stock settled at 3.59% higher value compared to the previous trading session and traded at Rs.1,168.60.
Jindal Stainless Ltd.
The stocks of the company went up by 8.97% and traded at Rs.51.65 after India Ratings and Research affirmed its rating at INR 888 with a stable outlook.
Strides Pharma Science Ltd.
The stocks of the company went up by 8.25% and traded at Rs.614.90 after the company received the approval of US Food and Drug Administration for Ursodiol Tablets used for treatment of primary biliary cirrhosis patients.
Indian Overseas Bank
Stocks of Indian Overseas Bank surged by 2.63% and traded at Rs.11.70 after the bank reported a net profit of over Rs. 120 crore during the first quarter of the FY21. the bank’s Net Interest Income went up by 9.6%.
State Bank of India
Global research bank CLSA retained a buy call on the stock at the target price of Rs.310. The stocks of the bank went up by 1.72% and traded at Rs.198.10 in today’s trading session.
GMM Pfaudler Ltd.
GMM Pfaulder acquired 54% stake in its parent firm Pfaudler Group worth $27.4 million. As a result, stocks of the company went up by 2.43% and traded at Rs.6,009.00.
Indian Rupee
Indian rupee opened with mild gains in today’s trading session at Rs.74.97 against the US Dollar as the US dollar slipped against its global peers.
Oil
Oil prices went up for the third consecutive day as major oil producers tried to hold back output amid the rising concerns over economic recovery from the Covid-19 pandemic.
Mixed Global Market Cues
European markets traded lower amid the rising concerns over coronavirus cases. FTSE 100 went down by 0.15% while FTSE MIB declined by 0.34%. The Asian markets traded higher after a tech-driven rally on Wall Street. Nasdaq went up by 1.06%, Nikkei 225 rose by 0.17%, and Hang Seng went up by 1.30%.
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