Today’s Action
Benchmark indices ended in the green today. Nifty, +0.5%, Sensex, +0.6%, Model Portfolio, +1.7%; MSI Ind 47, +0.6%, Nifty Midcap -0.1%, Smallcap -0.2%.
Daily Market Review
Market Status:Uptrend Under Pressure
India’s benchmark indices continued to post gains for the fourth straight session taking cues from global indices. During today’s session, Nifty was down 0.3% but recovered late and post gains. Oil Marketing Companies posted losses.
Nifty FMCG (+1.0%) and Pvt Bank (+0.9%) helped the market to post gains, while Metal (-1.2%) tried to drag the market down. Axis Bank (+3.0%) and Itc (+2.2%) were the top gainers, while Gail (India) (-3.7%), Hindustan Petroleum (-3.6%) and Bharat Petroleum (-3.4%) were the major losers among Nifty50 stocks.
The advance-decline ratio was in favor of decliners. Of the 2,066 stocks traded on the NSE, 701 advanced, 1,009 declined, and 356 remained unchanged.
Stocks in News
Indu Ind: The Company’s PAT was up 5.2% y/y to Rs 985 crore, beating most of consensus estimates. NII rose 21% y/y and provisions grew 157% because of its exposure to IL&FS. The stock was up 1.5% today.
Ht Media: The Company’s shares rose as much as 20% hitting upper circuit, after the Government of India announced a 25% hike on existing rate structure.
Leaders Up on Volume: Praj Industries (+12.3%) and Larsen & Toubro Infotech (+4.0%)
Leaders Down on Volume: Gail (India) (-3.7%)
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