Market ends in green for fifth session in a row; Adani Ports gains 3%
, ETMarkets.com|
Updated: Nov 22, 2017, 04.32 PM IST
NEW DELHI: Equity benchmarks Nifty50 and Sensex ended up in the green on Wednesday, extending the gains for the fifth straight session, thanks to rally in PSBs, auto and FMCG stocks.
The Nifty50 index closed 15 points higher at 10,342, while the BSE Sensex ended Wednesday's session at 33,562, up 83 points.
Shares of public sector banks climbed after the central cabinet approved the amendment to the Insolvency and Bankruptcy Code, aimed at preventing willful defaulters from bidding for stressed assets, which may help banks get better prices for the assets.
FMCG stocks saw some buying after companies such as ITC and Dabur, on Tuesday, said they had cut prices of various products to pass on the benefits of GST rate reduction to end-consumers.
However, selling in telecom, pharma and metal stocks put some pressure on the market during the trade. Investors booked profit in telecom stocks after rating agency Moody's negative outlook for the sector. Moody's expects the intensifying competition in the industry is likely to continue to pressure revenue and margins over the next 12 months.
Among the gainers in the Nifty50 index, Zee Entertainment closed nearly 4 per cent up after Macquarie Research appeared bullish on the company's prospects.
Adani Ports, GAIL, Ambuja Cements, UltraTech Cement and HDFC also remained among the top gainers.
On the other hand, Tech Mahindra, Bajaj Finance, Hindalco Industries, Dr. Reddy's Laboratories and Bharti Infratel settled as the top losers in the Nifty50 index.
As many as 90 stocks, including Action Construction Equipment, Bajaj Auto, Gillette India and JMC Projects (India) hit fresh 52-week highs on NSE on Wednesday.
On the contrary, Fortis Healthcare, Golden Tobacco, Sri Adhikari Brothers Television Network, Sanco Industries and Videocon Industries were among those 21 stocks that hit fresh 52-week lows.
Shares of PNB, Ashok Leyland, SBI, Idea Cellular, Bank of Baroda, BHEL, Tata Power, ICICI Bank, SAIL, ITC, Tata Motors and DLF stood as the most traded securities on the NSE.
Among the 50 stocks in the Nifty50 index, 23 settled in the green, while 27 in the red.
The Nifty50 index closed 15 points higher at 10,342, while the BSE Sensex ended Wednesday's session at 33,562, up 83 points.
Shares of public sector banks climbed after the central cabinet approved the amendment to the Insolvency and Bankruptcy Code, aimed at preventing willful defaulters from bidding for stressed assets, which may help banks get better prices for the assets.
FMCG stocks saw some buying after companies such as ITC and Dabur, on Tuesday, said they had cut prices of various products to pass on the benefits of GST rate reduction to end-consumers.
However, selling in telecom, pharma and metal stocks put some pressure on the market during the trade. Investors booked profit in telecom stocks after rating agency Moody's negative outlook for the sector. Moody's expects the intensifying competition in the industry is likely to continue to pressure revenue and margins over the next 12 months.
Among the gainers in the Nifty50 index, Zee Entertainment closed nearly 4 per cent up after Macquarie Research appeared bullish on the company's prospects.
Adani Ports, GAIL, Ambuja Cements, UltraTech Cement and HDFC also remained among the top gainers.
On the other hand, Tech Mahindra, Bajaj Finance, Hindalco Industries, Dr. Reddy's Laboratories and Bharti Infratel settled as the top losers in the Nifty50 index.
As many as 90 stocks, including Action Construction Equipment, Bajaj Auto, Gillette India and JMC Projects (India) hit fresh 52-week highs on NSE on Wednesday.
On the contrary, Fortis Healthcare, Golden Tobacco, Sri Adhikari Brothers Television Network, Sanco Industries and Videocon Industries were among those 21 stocks that hit fresh 52-week lows.
Shares of PNB, Ashok Leyland, SBI, Idea Cellular, Bank of Baroda, BHEL, Tata Power, ICICI Bank, SAIL, ITC, Tata Motors and DLF stood as the most traded securities on the NSE.
Among the 50 stocks in the Nifty50 index, 23 settled in the green, while 27 in the red.
