By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian markets closed higher in today’s trading session led by financial and IT stocks.
Nifty went up by 0.89% or 98.50 points and closed at 11,200.15, while S&P BSE Sensex went up by 0.96% or 362.12 points and closed at 38,025.45.
Around 1567 shares advanced, 1056 shares declined, while 167 shares remained unchanged.
Infosys (2.89%), Bajaj Finance (2.54%), GAIL (2.63%), HCL Tech (2.18%), and UPL (2.51%) were among top Nifty gainers. Shree Cements (1.15%), Eicher Motors (1.29%), Adani Ports (0.93%), M&M (0.57%), and Bharti Airtel (0.35%) were among top Nifty losers.
IT, metal, FMCG, and pharma sectors rose more than 1%. BSE Midcap went up by 0.77% while BSE Smallcap rose by 0.99%.
Blue Star Limited
The company reported a net loss of Rs.20 crore while the revenue of the company declined by 60%. The stocks of the company however went up by 4.40% and traded at Rs.505.00.
Unichem Laboratories Limited
The company received ANDA approval for its Tolterodine Tartrate Tablets from the USFDA. The stocks of the company went up by 1% and traded at Rs.263.15 in today’s trading session.
Steel Strips Wheels Limited
The company bagged the firm export order for around 6,000 wheels for the US Truck and Caravan Trailer Market. The order will be executed in the month of August from the company’s Chennai Plant. The stocks of the company went up by 2.02% and traded at Rs. 424.95.
Yes Bank Limited
Stocks of Yes Bank Limited went up by 4.67% and traded at Rs.13.45 after LIC bought shares of the troubled private bank.
Hindustan Zinc Limited
The global research firm Citi maintained buy call on the stocks of the company and raised its target price to Rs.240 per share. As a result, the stocks of the company went up by 8.32% and traded at Rs.236.95.
JK Lakshmi Cement Limited
Stocks of JK Lakshmi Cement Limited went down by 4.13% and traded at Rs.285.55 after the company reported weaker earnings for the first quarter of the FY21. The consolidated net profit of the company declined by 5.80% while the revenue from operations declined by 19.78%.
Stocks of Lupin Limited went up 0.81% and traded at Rs.935.50 after the company came in alliance with Concord Biotech. The company announced that it received the USFDA approval for Mycophenolate Mofetil Tablets.
Consolidated net profit of Gujarat Pipavav Port Limited declined by 12.5% while the revenue of the company was down by 10.5% during the first quarter of the FY21. The stocks of the company however went up by 0.67% and traded at Rs.74.95.
Indian rupee traded higher at Rs.74.87 against the US Dollar amid buying in the domestic equity markets. The trend was seen after RBI decided to keep the repo rate unchanged at 4%.
Global Markets Traded Weak
The Asian as well as the European Markets traded weaker in today’s trading session. Major market indices except Nasdaq which went up by 0.52% declined. FTSE 100 was down by 1.97%, FTSE MIB tripped down by 1.60%, Nikkei 225 went down by 0.43% while Hang Seng declined by 0.69%.
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