Benchmark indices ended higher for the third consecutive day with Midcap and smallcap outperforming the benchmarks.
Nifty rose by 0.51% or 76.40 points and closed above the 15,100-mark at 15,174.80 points, while S&P BSE Sensex gained 0.50% or 254.03 points and closed at 51,279.51 points. Around 1,322 shares declined and 1,609 shares advanced while 170 shares remained unchanged.
Eicher Motors (3.10%), JSW Steel (3.04%), Hindalco Industries (2.33%), Tata Steel (2.31%), and Bajaj Finance (2.27%) were among the top Nifty gainers. In contrast, SBI Life Insurance (3.48%), ONGC (1.84%), IOC (1.54%), HDFC Life Insurance(1.54%), and Kotak Mahindra Bank (0.91%) were among the top Nifty losers.
On the sectoral front, Nifty IT, Nifty Metal, and Nifty Pharma rallied over 1% each. BSE Midcap and BSE Smallcap surged 0.77% and 0.95% respectively.
Sun Pharmaceutical Industries Ltd.
Sun Pharma’s stocks traded higher by 1.92% at Rs. 624.35 after the firm’s subsidiary acquired 4,28,571 ordinary shares of WRS Bioproducts Pvt. Ltd., which is equivalent to 12.5% fully diluted equity stakes.
Dr. Reddy’s Laboratories Ltd.
The USFDA completed the company’s audit of API manufacturing plant in Middleburg. Form 483 with 3 observations was issued by the USFDA to the firm. Reddy’s shares rose by 1.08% and traded at Rs. 4,496.50.
Lupin’s shares surged 2.36% and traded at Rs. 1,056.25 after the firm launched a generic version of Alinia Tablets, 500 mg of Romark Laboratories.
TVS Motor Company Ltd.
TVS Motor Company launched its 2021 TVS Apache RTR 160 4V motorcycle today. The motorcycle comes with an advanced engine 159.7 cc, single-cylinder, 4-valve, and oil-cooled engine. The firm’s stocks rose by 1.19% and traded at Rs. 604.90.
Magma Fincorp Ltd.
Magma Fincorp’s shares surged by 4.42% and traded at Rs.134.75 after the firm received shareholders’ approval for the acquisition of a controlling stake by Rising Sun Holding Pvt. Ltd. through preferential issue.
Man Infraconstruction Ltd.
Man Infraconstruction Ltd. received Rs. 380 crore arbitration award from the Bombay High Court over the four-lane project on the Hadapsar-Saswad highway. The firm’s stocks went up by 1.72% and traded at Rs. 44.40.
Indian Energy Exchange
Indian Energy Exchange announced strategic disinvestment of 26% of its equity holding in the Indian Gas Exchange to National Stock Exchange of India Ltd. and an additional 5% equity holding to Oil and Natural Gas Corporation.
The Indian rupee opened marginally lower at Rs. 72.96 per Dollar. It ended flat at Rs. 72.91 against the U.S. Dollar amid buying seen in the domestic equity markets.
Global Markets End Higher
Global market indices ended higher as falling bond yields eased concerns about surging inflation. FTSE MIB rose by 0.15%, Nikkei 225 went up by 0.03%, Hang Seng grew 0.47% while FTSE 100 declined 0.34%.
By Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd
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