Today’s Action
Nifty, +0.07%; Sensex, -0.04%; Model Portfolio, -0.4%; Nifty Midcap, -0.2%; Smallcap, -0.6%.
Daily Market Review
Market Status: Confirmed Uptrend
The Nifty opened lowered and hit the day’s low of 11,817.05, but made a smart recovery towards the second half aided by strong gains in Hdfc Bank (+0.7%) and Kotak Mahindra Bank(+1.4%). It closed above 11,900. On the other hand, Indusind Bank (-5.2%), Infosys (-1.5%), and Reliance Industries (-0.4%) weighed on the index.
The Nifty midcap and smallcap fell 0.2% and 0.6%, respectively.
On the sectoral front, Nifty Media (+1.2%), Financial services (+0.9%), Realty (+0.6%), and Bank (+0.03%) uplift the market sentiment. On the flip side, Nifty IT (-0.7%) was the top loser followed by Nifty Auto (-0.4%), Metal (-0.2%, and FMCG (-0.08%).
The advance-decline ratio was in favor of losers. Of the 2,096 stocks traded on the NSE, 598 advanced, 1,164 declined, and 334 remained unchanged.
Key News
Adani Ports And Sez.: The Company received final approval from Queensland State authorities to commence work of its ambitious Carmichael coal mine project. The stock ended flat today.
Indiabulls Housing Fin: The stock gained 11.8% today after the petitioner withdrew his case against the Company over fund misappropriation.
Leaders Up on Volume: Inox Leisure (+2.7%), L&T Technology Services (+1.5%), and Axis Bank (+0.8%)
Leaders Down on Volume: Jk Cement (-0.9%) and Tata Consultancy Svs. (-0.3%).
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