By : Mr. Aamar Deo Singh- Head Advisory, Angel Broking Ltd

Amid volatility, Sensex and Nifty both formed a ‘U’ on their trading chart today. The markets opened around 1% higher. However, indicated bearish sentiment later due to weak global cues and profit booking. Sensex shed around 700 points only to recover more than 500 points and close at 40,707.31 – or 0.40% higher than its previous close. Support came in from metal and realty stocks. Nifty, on the other hand, was seen testing the 12,000-level early in the day but ended at 11,937.65 with 0.34% gain after its comeback.

Sensex: The 30-stock barometer observed 20 stocks advancing while 10 retreated. The gains were led by PowerGrid (4.13%), Bharti Airtel (3.51%), Tata Steel (3.04%), and NTPC (2.11%) alongside others. Tech stocks such as TCS (2.30%), HCL Technologies (1.06%), and Tech Mahindra (0.57%) as well as Nestle (1.46%), Bajaj Finance (0.88%), and Bajaj Finserv (0.75%) were seen leading the losses. RIL also shelled its initial gains and closed 1.50% lower. Banking and power were amongst the most traded stocks with SBI (0.42%) and NTPC leading the volume.

Nifty: The 50-stock index Nifty 50 saw 30 advances and 20 declines. The gains were led by PowerGrid (4.17%), Bharti Airtel (3.46%), Tata Steel (2.97%), and Hindalco (2.85%) alongside others. Losses were led by Britannia which was down 4.39% by the closing bell. Other stocks that ended in red include TCS (2.32%), SBI Life Insurance (1.92%), and Hero MotoCorp (1.83%).

Realty and Metal: At NSE, Realty and Metal were amongst indices that extended their support to the market rally. Overall, 8 stocks advanced and 2 declined at Nifty Realty while 12 advanced and 3 declined at Nifty Metal. Nifty Realty gained 4.36% overall with scrips like Godrej Properties and Sobha Developers gaining 11.50% and 11.22% respectively. APL Apollo Tubes, Hindustan Zinc, and JSPL surged by 5.55%, 4.60%, and 4.32% respectively in the Metal segment.

FMCG and IT: FMCG was the worst-performing index and shed 0.94% in today’s trading session. Amongst the biggest losers were Britannia Industries (4.39%), Tata Consumer Products (2.64%), Colgate-Palmolive (2.34%), and Dabur India (2.31%). United Spirits was an exception and rallied by 1.28%. IT stocks also tumbled today with MindTree losing 5.07%, TCS losing 2.32%, and HCL Technologies shed 0.98%.

Weak Global Cues: Global markets indicated weakness today following the apprehension of the second wave in Europe and North America coupled with the uncertainty around the U.S. relief package.

Post a Comment