By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices ended higher in today’s trading session led by positive market sentiments and buying seen in the pharma sector.
Nifty rose by 0.71% or 81.75 points and closed above the 11,500 mark at 11,521.80, while S&P BSE Sensex went up by 0.74% or 287.72 points and closed at 39,044.35.
IndusInd Bank (4.68%), Cipla (2.88%), UPL (2.75%), Axis Bank (2.34%), and Bharti Airtel (2.31%) were among top Nifty gainers while Titan (1.35%), Maruti Suzuki (1.11%), HDFC Life Insurance (0.91%), Eicher Motors (0.85%), and ITC (0.82%) were among top Nifty losers.
Nifty Pharma gained over 2% followed by Nifty Private Bank, Nifty Financial Services, and Nifty IT. BSE Midcap and BSE Smallcap traded higher by 0.85% and 1.44%, respectively.
The bank received exemption from paring stake in insurance subsidiaries for three years. The stocks of the company traded higher by 2.20% at Rs.371.70.
SREI Infrastructure Finance Limited
The stocks of SREI Infrastructure Finance Limited surged by 7.59% and traded at Rs.7.80 after the company reported its June profits on a QoQ basis. The consolidated profit of the company after tax stood at Rs. 23.01 crore.
The company reported a consolidated net loss of Rs.561.95 crore during the first quarter of the FY21. Despite the loss, the stocks of the company went up by 2.82% and traded at Rs.103.95.
Gayatri Projects Ltd.
The stocks of Gayatri Projects rose by 4.99% and traded at Rs.17.90 after the company announced that it is the L-1 bidder for a State Water and Sanitation Mission Project in U.P.
JB Chemicals and Pharmaceuticals Ltd.
The company’s consolidated net profit went up by 92.4% during the first quarter of the FY21 and stood at Rs.119.5 crore. The revenue of the company during the quarter increased by 17.07%. As a result, the stocks of the company surged by 7.56% and traded at Rs.891.05.
TAKE Solutions Ltd.
Stocks of the company tripped down by 6.74% and traded at Rs.46.35 after the company decided to sell its entire shareholding to APA Engineering- its subsidiary company.
The stocks of Minda Industries traded higher by 3.82% at Rs.365.20 after the company decided to raise around Rs.242 crore through its right issues.
The Indian rupee ended with losses at Rs.73.64 against the U.S. Dollar despite positive domestic equity markets in today’s session.
Global Markets Trade Positive
The global market indices traded positive amid rising hopes over development of the potential COVID-19 vaccine. Nasdaq rose by 1.87%, Hang Seng went up by 0.38%, while FTSE MIB and FTSE 100 rose by 0.72% and 1.09%, respectively. However, Nikkei 225 declined by 0.44% in today’s session.
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