Daily Big Picture : Buying Demand Helps Nifty Rally; Auto Stocks Decline

Today’s Action

Nifty, +1.3%; Sensex, +1.3%; Model Portfolio, +1.1%; MSI Ind 47, +1.0%; Nifty Midcap, +0.4%; Smallcap, +0.8%.

Daily Market Review

Market Status: Confirmed Uptrend 

Benchmark indices bounced back from three consecutive down days. The market advanced in the afternoon session as good buying demand was seen across sectors.

Barring Nifty Auto (-0.4%), all the sectors showed strength. Nifty PSU Bank (+1.5%) and Financials (+1.4%) were the top gainers.

The advance-decline ratio was in favor of advancers. Of the 2,097 stocks traded on the NSE, 950 advanced, 775 declined, and 372 remained unchanged.

Key News

Ultratech Cement: The Company announced its results today. Total income grew 17.3% y/y to Rs 11,031 crore. Net profit rose 131% to Rs 1,034 crore. The stock gained 4.7% today.

Hexaware Techs.: The Company has reported 17.8% growth in revenue for the March quarter. PAT grew 20.1% to Rs 163.1 crore. The stock lost 3.9% today.

Leaders Up on Volume: Capri Global Capital (+4.5%), Heidelbergcement India (+3.7%), and Bharat Financial Inclusion Ltd (+3.3%).

Leaders Down on Volume: Acc (-3.4%) and Gujarat Fluorochemicals (-1.8%).

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