By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian indices ended in the green in today’s trading session led by the financial, telecom and metals stocks.
Nifty went up by 0.73% or 82.75 points and closed above the 11,400 mark at 11,470.25, while S&P BSE Sensex went up by 0.71% or 272.51 points and closed at 38,900.80.
Bharti Airtel (7.09%), JSW Steel (6.54%), Hindalco (5.26%), Asian Paints (4.41%), and Bajaj Finance (4.36%) were among top Nifty gainers while Bharti Infratel (4.56%), ONGC (2.87%), Axis Bank (1.96%), Adani Ports (1.34%), and Infosys (1.15%) were among top Nifty losers.
Nifty metal remained the best-performing index and rose by 3.41%. BSE Midcap went up by 1.16%, and BSE Smallcap went up by 0.54%.
Ashok Leyland Ltd
The company reported a decline of 31% in total vehicle sales at 6,325 units during August. The domestic sales of the company stood at 5,824 in the month of August. Despite the decline, the stocks of the company went up by 2.22% and traded at Rs.69.15.
Adani Power Ltd.
The honourable Supreme Court upheld its APTEL order allowing Adani Power to recover compensatory tariff from Rajasthan discoms the higher cost of coal that was imported. Eventually, the stocks of the company surged by 4.30% and traded at Rs.38.85.
Escorts Limited
The company reported strong auto sales for the month of August with an 80% surge in tractor sales for the same month. The domestic sales of the company went up by 79.4% while exports reported a growth of 90.4%. As a result, the stocks of the company traded higher by 2.70% at Rs. 1,117.00.
Biocon Ltd.
Stocks of Biocon Ltd. rose by 7.79% and traded at Rs.405.45 after the company successfully launched a diabetes drug in the US market. Semglee, introduced by Biocon Ltd., received final approval from the USFDA.
Reliance Power Ltd.
The company reported a default in payment of the principal and interest amount totalling up to Rs.300.22 crore after which the stocks of Reliance Power Ltd. declined by 2.94% and traded at Rs.3.30.
Indian Rupee
Indian rupee ended higher at Rs. 72.87 against the U.S. dollar.
Gold
The prices of the yellow metal rose on MCX in today’s trading session following positive momentum in the international spot prices. The weakening of the US dollar and border tensions between India-China further supported the prices of gold on MCX.
Global Markets projected mixed trade
The Asian and the European indices projected mixed cues owing to the rising U.S.-China tension and depreciating dollar value. Nasdaq rose by 0.68%, FTSE MIB rose by 0.69%, while Hang Seng rose by 0.03%. On the other hand, Nikkei 225 and FTSE 100 declined by 0.01% and 1.15% respectively.
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