By Aamar Deo Singh, Head Advisory, Angel Broking Ltd in conversation with Prittle Prattle News
Mumbai- 18th December 2020: Indian indices end higher; Nifty settles above 13,750, Sensex up by 70 points – Benchmark indices ended a little higher in today’s session with gains led by I.T. and Pharma stocks.
Nifty went up by 0.14% or 19.85 points and settled above 13,750 at 13,760.55 while S&P BSE Sensex rose by 0.15% or 70.35 points and closed at 46,960.69. Around 1,125 shares advanced, 1,611 shares declined, and 122 shares remained unchanged.
Dr. Reddy’s Lab (3.35%), Bajaj Auto (2.50%), Infosys (2.31%), Wipro (1.71%), and Cipla (1.53%) were among the top Nifty gainers. In contrast, IndusInd Bank (3.10%), HDFC Bank (2.28%), ONGC (1.97%), Maruti (1.74%), and IOC (1.36%) were among the top Nifty losers.
On the sectoral end, Nifty I.T. and Nifty Pharma rose by 1.5% and 1.3%, respectively, while Nifty FMCG went up by 0.3%. However, BSE Midcap and BSE Smallcap ended in the red by 0.35% and 0.24%, respectively.
Surya Roshni Ltd.
The company’s stocks surged by 3.34% and traded at Rs. 346.50 after the company bagged an order for the supply of API 5L Grade 3LPE Coated and bare pipes to IOCL for the Gas pipeline project. The order is worth Rs. 72.62 crores.
RITES Ltd.
Stocks of RITES Ltd. tripped by 2.07% and traded at Rs. 271.70 after the company secured a project management consultancy work for the development of Greenfield Port in Andhra Pradesh for Rs. 62 crores.
L&T Technology Services Ltd.
Stocks of L&T Technology surged by 12.57% and traded at Rs. 2,209.15 after the rating firm CLSA maintained buy and raised the target price of the store to Rs. 2,020 from Rs. 1,750. The company’s revenue and margin projected a meaningful improvement.
Strides Pharma Science Ltd.
Stocks of Strides Pharma rose by 0.42% and traded at Rs. 773.75 despite receiving a USFDA approval for Oxybutynin Chloride 5mg tablets.
Steel Strip Wheels Ltd.
The stocks of Steel Strips Wheels went down by 0.47% and traded at Rs. 511.00 despite bagging export orders of around 51,000 wheels for the E.U. market. The orders are to be executed in January and February 2021 from its Chennai plant.
Tata Consultancy Services Ltd.
Stocks of TCS rose by 0.48% and traded at Rs. 2,851.95 as the firm’s Rs. 16,000 crore buyback offer opened for the investors during the day. The floor price of the offer has been fixed at Rs. 3,000 per share.
Indian Rupee
Indian rupee ended flat at Rs. 73.57 against the U.S. Dollar amid volatile trading sessions in the domestic equity market.
Mixed Global Market Cues
Asian stocks fell slightly while European stocks traded in the green in today’s volatile session amidst volatile markets and rising worries over coronavirus cases. FTSE MIB and FTSE 100 rose by 0.13% and 0.14%, respectively. On the other hand, Nikkei 225 declined by 0.16% while Hang Seng declined by 0.67%.
