By Aamar Deo Singh, Head Advisory, Angel Broking Ltd.
After trading in the red for two consecutive days, Indian markets ended positive in today’s trading session. Nifty went up by 0.91% or 94.10 points and closed at 10,383.00 remaining above the 10K mark. S&P BSE Sensex rose by 0.94% or 329.17 points and closed at 35, 171.27.
Around 1629 shares advanced, 141 shares remained unchanged, while 1040 shares declined in today’s trading session.
BPCL (6.50%), Infosys (6.64%), TCS (4.92%), IOC (4.76%), and IndusInd Bank (3.76%) were among top Nifty gainers.
Bharti Infratel (2.82%), Bajaj Finance (3.09%), ITC (3.07%), Tata Motors (1.73%), and Kotak Mahindra Bank (2.35%) were among top Nifty losers.
FMCG and Pharma ended lower while other sectors traded green.
BSE Midcap rose by 0.27% while BSE Smallcap rose by 0.19%
Shares of UCO bank went up by 15.77% and traded at Rs 16.15 after the bank reported a net profit of Rs 16.78 crore for the fourth quarter against the loss of Rs. 1552 crore during the same time last year.
The company’s stock went up by 7.25% and traded at Rs. 212.30 after the company received 3.34 times demand for the non-retail segment.
The year-on-year net profits of the company for the fourth quarter went down by 59.4% while the revenue went down by 16.8%. Despite this the stocks of the company went up by 0.66% and traded at Rs. 222.00.
The company reported weaker earnings for the fourth quarter. As a result, the stocks of the company went down by 2.62% and traded at Rs. 52.05.
Indian Overseas Bank
Indian Overseas Bank’s share rose by 9.62% and traded at Rs. 13.10 remaining in the 10 percent upper circuit in today’s trade session. The rise in the stock price was a result of the company’s quarter four earnings.
The company’s stock tripped down by 0.83% and traded at Rs. 398.00 after the company reported a fall of 27.1% in its consolidated net profit for the fourth quarter. The revenue of the company too went down by 20%.
IRCTC’s stock went down by 1.94% and traded at Rs. 1385.00 after the company declared that its revenues and profits are likely to be adversely affected for the April-June quarter.
The stocks of Reliance Industries Limited went up by 1.87% and traded at Rs. 1750.00 after the oil-to-telecom conglomerates’ Fitch ratings were upgraded.
Though the Indian rupee ended with a little change it mostly continued to trade higher in today’s trading session. Indian rupee today ended at Rs. 75.64 against the US dollar.
Gold traded higher for the third consecutive day among the rising coronavirus cases. Though the prices of gold fluctuated the Spot gold was steady at US 1760.73 dollar.
Global Market Trade Positive
Global market today traded higher amidst the rising covid-19 cases across different parts of the world. Nasdaq went up by 1.09%, FTSE 100 was up by 1.72%, FTSE MIB went up by 1.52%, Nikkei 225 went up by 1.13% while Hang Seng traded lower by 0.93%.
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