Saturday, December 21, 2024 | 03:57 AM ISTEN Hindi

MARKET WRAP: Sensex zooms 489 pts, Nifty over 11,800; Jet Airways soars 90%

All that happened in the markets today

SI Reporter New Delhi

Indian shares recouped early losses to end Thursday's session with over 1 per cent gain as financial stocks, following Fed’s rate-cut hints, offset losses in IT counters triggered by a report of U.S. move to cap H1-B work visas.

That apart, reports of monsoon hitting drought hit Maharashtra also boosted sentiment. As per a Reuters report, India’s annual monsoon has covered some parts of the western state of Maharashtra and conditions are becoming favourable for further advancement into the southern part of the country.

The benchmark S&P BSE Sensex zoomed 489 points, or 1.25 per cent, to 39,602, with YES Bank, IndusInd Bank, Sun Pharma, Larsen & Toubro, and ICICI Bank leading the list of gainers. Out of the 30 BSE Sensex scrips, only NTPC, ITC, HDFC Bank, and Hindustan Unilever ended Thursday's session with losses.

The broader Nifty50 index ended higher. Nifty Pharma gained the most 3.06 per cent, while Nifty Auto and Nifty PSU Bank indices also climbed over 2 per cent each.

In the broader market, the S&P BSE MidCap index added 237 points, or 1.6 per cent, to settle at 14,680, while the S&P BSE SmallCap index rose 146 points, or 1.05 per cent, to 14,065.

BUZZING STOCKS

YES Bank shares tumbled to a double-digit value of Rs 98.75 per share, down 4.6 per cent intra-day, for the first time in almost half a decade as investors’ sentiment eroded due to the bank’s exposure to debt-laden companies. However, the stock ended the day 11 per cent higher at Rs 114.55. READ MORE

Shares of Adani Green rallied 3.66 per cent to Rs 41.10 on Thursday, a day after the company announced that its wholly-owned subsidiary Adani Renewable Energy Park (Gujarat) has bagged 600 MW wind-solar hybrid projects in an auction conducted by state-run Solar Energy Corporation of India (SECI). READ MORE

4:07 PM

Nifty sectoral indices at close

4:07 PM

Heatmap: S&P BSE Sensex

4:06 PM

Market at close

4:05 PM

Market at close

The S&P BSE Sensex ended at 39,602, up 489 points while the broader Nifty50 index settled at 11,832, up 140 points.

3:29 PM

Jet Airways zooms 125%

3:28 PM

NEWS ALERT | Aviation Min official says to review allocation of Jet Airways overseas rights in early October: CNBC TV18

3:13 PM

Indiabulls Housing Finance up over 8%

3:10 PM

Edelweiss on Mahindra Logistics

We hosted Mr. Pirojshaw Sarkari, CEO, Mahindra Logistics (MLL), at the Edelweiss Logistics Conference held on June 18, 2019. According to Mr. Sarkari, though the general slowdown in the economy, particularly in the auto sector, will have some impact, he pegged the 3PL category’s medium to long term revenue CAGR at 15-16%. He also expects margin to improve due to rapid growth in the warehousing segment. Hence, EPS growth is estimated at 20% each in FY20 and FY21 despite much lower sales growth. Maintain ‘BUY’ with DCF-based target price of Rs 610

3:09 PM

IPO WATCH

3:07 PM

Centrum on ONGC

Current valuations of just 7.6x FY21E EPS/ 3.7x EV/EBITDA and the higher consol EPS via HPCL/MRPL/OPAL contribution by FY21E, delivers material opportunity for upside. Our valuation based on 7.5-8.5x FY21E earnings for standalone/subsidiary companies delivers a TP of Rs245/sh. BUY

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