By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
The benchmark indices continued to trade positive for the fifth consecutive day with infra, energy, and banking stocks leading to the gains.
Nifty, went up by 1.51% or 161.75 points and closed at 10,901.70, crossing the 10,900 mark, while S&P BSE Sensex went up by 1.50% or 548.46 points and closed at 37,020.14.
Around 1622 shares advanced, 978 shares declined, while 153 shares remained unchanged.
BPCL (12.43%), ONGC (5.84%), GAIL (4.08%), Bharti Infratel (4.32%), and Titan (3.71%) were among top Nifty gainers, while Hindalco Industries (1.90%), Britannia Industries (1.86%), Nestle (1.47%), TCS (1.20%), and Infosys (0.59%) were top Nifty losers.
All sectoral indices except the IT sector traded positive. BSE Midcap and BSE Smallcap went up by 1.55% and 1.11% respectively.
Granules India Ltd.
Stocks of Granules India Ltd. went up by 7.32% and traded at Rs.263.80 in today’s trading session as the company’s profits were up by 34% while the revenue of the company went up by 23.6%.
The company reported a net profit of Rs.2925.00 crore and a revenue of Rs.17,841.00 crore in the first quarter of the FY21. However, the stocks of the company declined marginally by 0.49% and traded at Rs.624.70.
L&T Finance Holdings Limited
Stocks of L&T Finance Holdings Limited went up by 3.51% and traded at Rs.61.85 even though the company reported a decline of 73% in its net profit for the first quarter of the FY21. The decline was due to higher contingency provisioning.
GNA Axles Ltd.
The company reported a net loss of Rs.6.6 crore while the revenue of the firm was down by 69%. As a result, stocks of the company rallied down by 2.51% and traded at Rs.176.50 in today’s trading session.
Stocks of Cadila Healthcare Ltd. went up by 4.63% and traded at Rs.377.60 after the company secured the approval from COFEPRIS for conducting clinical trials in Mexico of Pegylated Interferon alpha-2b that will help treat COVID-19.
The company reported more than expected earnings for the first quarter of the FY21 along with a rise in the company’s net profit and improved operating performance. The stocks of the company went up by 3.47% and traded at Rs.294.00.
Britannia Industries reported a consolidated net profit of Rs.542.6 Crore and a revenue of Rs.3420.7 crore for the first quarter of the FY21. However, the stocks of the company went down by 1.86% and traded at Rs.3783.00.
The Indian rupee ended higher at Rs.75.02 against the US dollar amid the positive domestic equity markets.
Gold traded marginally higher in today’s trading session with a positive bias on MCX. Gold futures for August rose by 0.09% to Rs.48,815.
Mixed Global Market Cue
Global markets traded firm in today’s trading session despite the rising number of COVID-19 cases and increasing US-China tensions. The European markets showed an upward trend as FTSE 100 went up by 0.56% and FTSE MIB went up by 0.01%. Hang Seng too surged by 0.47% while Nasdaq and Nikkei 225 went down by 0.73% and 0.32% respectively.
You might also like
More from General
~PM Modi’s Approval Rating consolidates over the lockdown period; Naveen Patnaik, Jai Ram Thakur, Yogi Adityanath and Sarbananda Sonowal are the …
Paytm Insider premieres ‘One on One – Unlocked’, a play by Rage Productions on its theatre IP – Front & Centre
Mumbai, 6th August, 2020: Paytm Insider’s recently announced theatre initiative, Front & Centre, is bringing its next play - ‘One on One - …
With registration of over 3,000 students from colleges across the country, this first of a kind virtual competition focused on …