By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices ended higher by 1% in today’s trading session with robust gains in banking and metal stocks.
Nifty went up by 1.00% or 128.60 points and closed above the 12,900 mark at 12,987.00, while S&P BSE Sensex surged by 0.98% or 431.64 points and closed at 44,259.74. Around 1726 shares advanced, 986 shares declined, while 179 shares remained unchanged.
JSW Steel (7.02%), Tata Steel (5.20%), Grasim Industries (4.38%), Hindalco (3.02%), and Shree Cements (3.27%) were among the top Nifty gainers. In contrast, Eicher Motors (1.57%), BPCL (0.67%), Maruti Suzuki (0.73%), ONGC (0.62%), and HDFC Life (0.65%) were among top Nifty losers.
All the sectoral indices ended in the green, led by Nifty Metal, which gained over 4%. BSE Midcap and BSE Smallcap rose by 0.94% and 0.71%, respectively.
Dewan Housing Finance Corporation Ltd.
The stocks of Dewan Housing surged by 4.88% and traded at Rs. 25.80 after the company declared its Q2 results. The firm’s revenue went up by 4.7%, while the net loss in Q2FY21 narrowed down to Rs. 2,122.7 crores from Rs. 6,640.2 crores in the year-ago period.
Glenmark Pharmaceuticals Ltd.
Glenmark Pharma has been listed in the Dow Jones Sustainability Index for the third consecutive year in a row. The stocks of the company, as a result, went up by 0.64% and traded at Rs.469.30 in today’s trading session.
Interglobe Aviation Ltd.
The stocks of Interglobe Aviation Ltd. went down by 2.56% and traded at Rs. 1,550.00 after research house Citi downgraded the stock to ‘sell’ from neutral at a target price of Rs. 1,400 per share.
Siemens Ltd.
Research house Jefferies maintained an underperforming rating of the stock, with the target price for the stock being Rs. 900 per share. The Q4 EBITDA of the firm was above estimates due to higher revenues. As a result, the stocks of the company surged by 12.37% and traded at Rs. 1,532.95.
Meghmani Organics Limited
Meghmani Organics’ stocks rose by 6.00% and traded at Rs. 79.50 after the company mentioned its plan to set up a multipurpose plant in Daheja. The cost of setting up the plant is estimated to be Rs. 310 crores.
Indian Rupee
The Indian rupee traded higher by 10 paise in today’s session and ended at Rs. 73.81 against the U.S. Dollar amid positive domestic equity markets.
European Markets end in the red
Nikkei 225 and Hang Seng went up by 0.91% and 0.56%, respectively, and ended in the green. On the other hand, European indices ended in the red as the rally continued amid the rising number of coronavirus cases. FTSE 100 declined by 0.54%, and FTSE MIB went down by 0.26%.
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