By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Nifty above 14,500, Sensex below 49,500-mark, Indian indices end flat – Benchmark indices ended flat following a highly volatile trading session. The market was today dragged largely by financials and pharma stocks.
Nifty ended marginally higher by 0.01% or 1.40 points and closed above the 14,500-mark at 14,564.85. On the other hand, S&P BSE Sensex ended in the red and declined by 0.05% or 24.79 points to close at 49,492.32. Around 1,200 shares advanced, 1,807 shares declined, and 143 shares remained unchanged.
M&M (5.66%), SBI (4.60%), Adani Ports (4.43%), IOC (3.16%), and NTPC (2.35%) were among the top Nifty gainers. In contrast, Bajaj Finance (2.94%), HDFC (2.75%), Shree Cements (2.83%), Bajaj Finserv (1.95%), and UPL (2.09%) were among the top Nifty losers.
Leaving pharma and financial services, all major sectors ended in the green.
Stocks of CESC went up by 3.22%% and traded at Rs. 683.00 after the company reported its Q3 results. The company’s net profit rose by 21.3% while the revenue was up by 8.3%.
The company received ANDA approval for its Celecoxib Capsules 50mg, 100 mg, 200 mg, and 400 mg from USFDA. Despite the approval, the company’s stocks traded lower by 1.42% at Rs. 274.15.
Granules India’s stocks rose by 1.78% and traded at Rs. 368.00 after the company received the U.S. health regulator’s approval for Metformin Hydrochloride extended-release (ER) tablets. These tablets are used in the management of type-2 diabetes. The USFDA has granted the final approval for the company’s new drug.
The IT firm reported robust earnings for the December quarter following which the company’s stocks hit a 52-week high. The firm reported an increase of 39.5% in its profit, which stood at Rs.105 crore in Q3. The stocks of the company were up by 14.91% and traded at Rs. 2,398.95.
Stocks of SBI surged by 4.60% and traded at Rs. 305.95 after FPIs raised stake in the company in Q3. Mutual Funds reduced their stakes in the bank to 12.72% while LIC also lowered its shareholding to 9.74%.
Bharat Rasayan, in its board meeting held on January 12, approved the proposal to buyback its fully paid-up equity shares of Rs. 10 each from the company’s equity shareholders. The stocks of the company traded higher by 1.76% at Rs. 10,550.00.
Indian Rupee
Indian rupee ended higher by 10 paise at Rs. 73.15 against the U.S. Dollar amid buying seen in the domestic equity markets.
Positive Global Market Cues
Global indices ended in the green despite rising worries over the coronavirus pandemic and prospects of an eventual victory against the pandemic. FTSE 100 rose by 0.16%, Nikkei 225 went up by 1.04%, and FTSE MIB and Hang Seng declined by 0.03% and 0.15% respectively. This was conveyed to Prittle Prattle News through a press release.
