Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices fell from the record-high levels by 1.5% after investors booked profits after a bull-run. Among all the sectors, banking and finance stocks dragged the market the most.
Nifty tripped by 1.51% or 196.75 points and closed at 12,858.40 still managing to remain above the 12,000 mark. On the other hand, Sensex went down by 1.56% or 694.92 points and closed at 43,828.10.
ONGC (5.91%), GAIL (1.65%), SBI Life (1.32%), Adani Ports (1.44%) and Coal India (0.49%) were among top Nifty gainers while Eicher Motor (3.72%), Axis Bank (3.44%), Kotak Bank (2.97%), Sun Pharma (2.53%) and Bajaj Finance (2.43%) were among top Nifty losers.
Nifty Bank and Nifty Fin Services declined by 1.8% while Nifty Auto and Nifty IT declined by 1.5% each. BSE Midcap and BSE Smallcap declined by 1.75% and 1.12% respectively.
Aurobindo Pharma Ltd.
Stocks of Aurobindo Pharma went down by 2.90% and traded at Rs.853.75 after the US FDA released a warning letter for the company’s New Jersey unit. The warning was released stating that the methods, facilities, manufacturing, and processing did not conform to CGMP.
Union Bank of India Ltd.
Stocks of Union Bank of India surged by 3.31% and traded at Rs. 26.55 after the bank disclosed its plans of issuing Basel III Compliant Tier II bonds in the nature of debentures.
Oil & Natural Gas Corporation Ltd.
Stocks of ONGC Ltd. surged by 5.91% and traded at Rs. 80.60 after the oil prices rallied, hitting the highest level since March 2020. Crude Oil prices rose amid hopes over COVID-19 vaccine.
KEI Industries Limited
Stocks of KEI Industries rose by 2.56% and traded at Rs. 401.00 as the firm’s business picked up and gained momentum.
ARSS Infrastructure Projects Ltd.
Stocks of ARSS Infrastructure went up by 9.96% and traded at Rs.15.45 after the company bagged a highway order worth Rs. 210 crore. The order was for the improvement to 2-lane of NH-40 section.
Larsen & Toubro Limited
Stocks of L&T Limited went down by 1.61% and traded at Rs. 1,117.20 even after the company secured a large contract for constructing India’s longest road bridge. The contract is worth Rs. 2500-2500 crore.
Dewan Housing Finance Corporation Ltd.
Stocks of Dewan Housing went up by 4.90% and traded at Rs. 24.60 after media reports suggested that lenders to the company are seeking fresh bids.
Indian Rupee
Indian Rupee ended flat at Rs. 73.99 against the U.S. Dollar amid selling seen in the domestic equity markets.
Positive Global Market Cues
Global markets projected a positive trend in today’s session amid rising hopes over COVID-19 vaccine. Nasdaq went up by 1.31%, FTSE MIB rose by 0.33%, Nikkei 225 went up by 0.50%, Hang Seng went up by 0.31% while FTSE 100 declined by 0.50%.
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