By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices continued the positive movement for the third consecutive day.
Nifty surged 0.53% or 55.65 points and closed at 10,607.35, remaining above the 10K mark. On the other hand, S&P BSE Sensex went up by 0.50% or 177.72 points and closed at 36,021.42.
Around 1333 shares advanced, 148 shares remained unchanged, while 1359 shares declined.
Bharti Airtel (4.08%), Eicher Motors (4.18%), Adani Ports (4.12%), Hero MotoCorp (2.64%), and Bajaj Auto (1.93%) were top Nifty gainers.
JSW Steel (1.77%), Tata Steel (1.76%), IndusInd Bank (1.48%), HDFC Bank (1.28%), and Zee Entertainment (1.35%) were among top Nifty losers.
BSE Midcap went up by 0.56% while BSE Smallcap went up by 0.47%. All the sectors except bank and metal traded positive.
MothersonSumi Systems Ltd.
MSSL which is an auto component major announced a group restructuring where it will demerge its domestic wiring harness business. The stocks of MSSL went down by 5.69% and traded at Rs.97.75
HDFC Life announced that its stock will be a part of Nifty50 on the last day of the month of July. The stocks of HDFC Life went up by 5.07% and traded at Rs. 575.75.
Shares of non-banking firm Muthoot Finance went up by 3.15% and traded at Rs.1143.90. The company’s Board of Directors considered the proposal for the splitting of stocks.
The stocks of Reliance Industries Limited went up by 1.57% and traded at Rs.1788.00 in today’s trading session after the company announced that Intel will invest Rs.1894.50 in Reliance’s Jio Platform acquiring 0.39%stake.
The YoY crude steel production of JSW Steel went down by 30.2% at 2.96 mt for the first quarter of financial year 2021. The shares of JSW Steel tripped down by 1.77% and traded at Rs.191.00
PTC Indian Financial Services
Shares of PTC India Financial Services went up by 1.52% and traded at Rs.13.40 jumped 3% intraday in today’s trading session after SBI sanctioned a term loan-WC augmentation of Rs.300 crore.
Shares of Axis Bank Limited went up by 1.37% and traded at Rs.429.00. The company announced to fully wind down and close its UK-arm Axis Bank UK Limited, a subsidiary of the bank.
Shares of Vedanta Limited went down by 0.28% and traded at Rs.106.10 after the company proposed for voluntary delisting from NSE’s Nifty50 benchmark. HDFC Life Insurance Company will replace Vedanta Limited in the Nifty50 index.
Indian rupee, strengthening to its highest level, ended 32 paise higher at Rs.74.64 against the U.S dollar in today’s trading session amidst buying in the Indian equity market.
Gold traded flat in today’s trading session amid the rising number of coronavirus cases and continued trade tension between China and U.S.
Mixed Global Market Cues
European markets traded flat while Asian shares rallied on robust U.S payrolls data. However, the rising number of coronavirus cases in the U.S capped the gains. Nasdaq went up by 0.52%, Nikkei 225 went up by 0.66%, and Hang Seng went up by 0.99%. On the other hand, FTSE MIB and FTSE 100 went down by 0.84% and 0.92% respectively.
More from Business
New research from Microsoft reveals businesses need to prioritize skills as much as technology to maximize value from AI
~Senior executives predict half of all employees will be equipped with AI skills in the next 6-10 years~ New Delhi, …
Flipkart launches its startup accelerator program ‘Flipkart Leap’ to build innovative disruptions in technology and consumer-internet space
Flipkart Leap is beginning with a call for entries, starting today, and will identify innovative startups to promote the …
By: Mr. Prathamesh Mallya, AVP - Research Non Agri Commodities and Currencies, Angel Broking Ltd. The controversies surrounding the passing of …