Today’s Action
Nifty, +0.6%; Sensex, +0.6%; Model Portfolio, +0.6%; MSI Ind 47, +0.004%; Nifty Midcap, +0.1%; Smallcap, +0.1%.
Daily Market Review
Market Status: Rally Attempt
Benchmark indices closed in the green led by buying interest in realty and banking stocks. While the Sensex gained 238 points, the Nifty gained 67 points and closed above 11,650 level. Currently, 11,550 mark is seen as a crucial support and on the flipside, 11,761 posed as the immediate resistance for the Nifty.
Nifty Realty (+1.4%) was the top performer led by Indiabulls Real Estate (+11.7%), Prestige Estates Prjs. (+3.2%), and Dlf (+1.9%). Among others, Nifty Bank (+0.9%) followed the suit led by strong gains in Yes Bank (+4.1%), Icici Bank (+2.6%), and RBL Bank (+1.9%). Nifty Media (-0.2%) was the only sector that closed in negative dragged by sell-off in Inox Leisure (-2.0%) and Pvr (-0.1%).
The advance-decline ratio was in favor of losers. Of the 2,087 stocks traded on the NSE, 786 advanced, 966 declined, and 335 remained unchanged.
Key News
State Bank Of India: The bank announced that it has put its NPAs worth Rs 424 crore on auction to recover its unpaid dues. The stock closed 0.6% higher.
Tech Mahindra: The Company said it will acquire 18.1% stake each in Infotek Software and Systems and Vitaran Electronics for a consideration of Rs 13 crore. The Company aims to expand its reach in the radio-frequency identification (RFID) space. The stock closed 0.3% higher.
Leaders Up on Volume: Capri Global Capital (+3.1%), Icici Lombard General Ins Co (+2.0%), and Info Edge (India) (+1.5%)
Leaders Down on Volume: Godrej Properties (-1.8%), Newgen Software Techs (-1.9%), and Century Textiles & Inds. (-1.5%)
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