Monday, December 23, 2024 | 07:54 AM ISTEN Hindi

Sensex, Nifty end flat after listless trade; auto stocks rally, banks fall

CLOSING BELL: Reliance Industries, Wipro, IndusInd Bank, Axis Bank, Tech M, Tata Steel, Maruti Suzuki, and M&M were the top Sensex gainers, rising between 0.5 per cent and 1.2 per cent

SI Reporter New Delhi

Sensex, Nifty end flat after listless trade; auto stocks rally, banks fall

CLOSING BELL

Stock market highlights: Domestic benchmark indices remained listless on Friday as record high levels in indices triggered minor profit booking. The S&P BSE Sensex, which hit a new lifetime high of 62,448 earlier today, ended at 62,294, up 21 points or 0.03 per cent. The NSE Nifty50, meanwhile, ended at 18,513, up 29 points or 0.15 per cent. The index claimed new 52-week high of 18,535.

Reliance Industries, Wipro, IndusInd Bank, Axis Bank, Tech M, Tata Steel, Maruti Suzuki, and M&M were the top Sensex gainers, rising between 0.5 per cent and 1.2 per cent. HDFC Life, Tata Motors, Divis Labs, Hero MotoCorp, Coal India, Eocher Motors, and BPCL were the additional gainers on the Nifty50 index.

On the downside, Nestle India, ICICI Bank, Kotak Bank, Titan, HDFC Bank, HUL, and Bajaj Finance were the top laggards, down up to 1.4 per cent. Sectorally, the Nifty Realty index added 1.2 per cent, while the Nifty FMCG index fell 0.3 per cent.

In the broader market, the BSE MidCap and SmallCap indices rallied 0.77 per cent, and 0.67 per cent, respectively.

Investment strategy

Analysts are betting on bank, and IT sectors as markets hit record highs. Metals, state-owned oil marketing companies, and export/global economy-linked sectors, meanwhile, may not see any meaningful rally. READ MORE

4:14 PM

COMMENT:: Lack of fundamental triggers may limit the upside

"After clocking record highs in the previous session, domestic indices traded with volatility amidst mixed global cues and rising crude prices. While FIIs turning net buyers is a positive, the lack of fundamental triggers will limit the upside, keeping the market volatile in the short term. Rising COVID restrictions in China continue to negatively impact the global growth forecast."

- Vinod Nair, Head of Research at Geojit Financial Services

4:08 PM

PNB hits 21-month high on govt's nod to divest stake in UTI AMC

PNB received the government's approval to divest its entire stake in UTI Asset Management Company (AMC) as part of its non-core asset sale plan and shore up its capital base. READ MORE

4:06 PM

ITDC freezes at the 20% upper circuit post valuation of 'The Ashok' hotel

Shares of India Tourism Development Corporation (ITDC) were locked in the 20 per cent upper circuit at Rs 404.60 on Friday after the government fixed an indicative value for Delhi's 'The Ashok' hotel at Rs 7,409 crore under the national monetisation programme. READ MORE

4:04 PM

GE Shipping hits new high on healthy outlook; zooms 126% thus far in 2022

In the past one month, the stock price of GE Shipping has soared 26% after the company reported an over three-fold jump in its consolidated net profit at Rs 731 crore in Q2FY23. READ MORE

4:03 PM

Bikaji Foods m-cap crosses Rs 10,000 crore; stock up 36% from issue price

Shares of Bikaji Foods International continued their upward movement and hit a new high of Rs 410 today. The stock of packaged foods company quoted higher for the fourth straight day as it soared 31 per cent, during the period. READ MORE

4:01 PM

Nureca hits 20-month low, tanks 74% so far in 2022

Shares of Nureca, a digital healthcare and wellness solutions provider, continued to reel under pressure and hit a 20-month low of Rs 562.50 in Friday’s trade. The stock was seen trading closer to its all-time low of Rs 559.25, touched on March 19, 2021. READ MORE