Friday, December 20, 2024 | 11:41 AM ISTEN Hindi

Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat

Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent

SI Reporter New Delhi

(Photo: Bloomberg)

Stock market highlights: Domestic markets ended Monday's trade on a positive note. The S&P BSE Sensex settled at 65,953 levels, up 232 points or 0.3 per cent, whereas Nifty50 gained 80 points or 0.4 per cent to close at 19,597 levels.

Broader markets, too, exhibited strength throughout the day with Nifty Midcap 100 and Nifty Smallcap 100 indices ending with 0.5 per cent and 0.2 per cent gains, respectively. Volatility gauge, India VIX, meanwhile, jumped 5 per cent.

21 out of 30 stocks from the pack ended in positive territory led by M&M (up 4 per cent), Sun Pharma (up 2 per cent), Bajaj Finserv (up 1 per cent), and TCS (up 1 per cent). On the flipside, SBI, Tata Motors, and Axis Bank lost up to 0.94 per cent.

Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining in the range of 1 per cent to 2 per cent, while Nifty PSU Bank, Nifty Media, and Nifty Metal indices ended the trade in red.

IPO Update

SBFC Finance: Till 3:30 pm, the public issue was subscribed 67.57 times on the last day of the offer. The subcription was led by Qualified Institutional Buyers (186 times), followed by non-institutional investors (46 times), and retail (10 times).

Concord Biotech: Till 3:30 pm, the public issue was subscribed 1.9 times on the second day of the offer. The subcription was led by employees (13 times), followed by non-institutional investors (3.8 times), and retail (2 times).

4:06 PM

COMMENT:: Markets start week on a cautious note ahead of inflation, RBI outcome

"The Indian market began the data-centric week with modest gains, primarily propelled by strong performances in the pharma and IT sectors. Global markets portrayed a mixed picture, with US futures exhibiting positivity in response to a moderation in bond yields, while European markets experienced declines due to weak economic data. Caution prevailed in the market due to the anticipation of upcoming inflation data and the RBI's monetary policy."

- Vinod Nair, Head of Research at Geojit Financial Services

4:04 PM

COMMENT:: RBI may keep rates untouched; Auto, Bank stocks look good

MPC will be concerned about the high vegetable inflation prevailing now. But since this is due to seasonal factors monetary policy cannot do anything about it. More importantly, there is strong growth momentum in the economy now and the MPC is unlikely to do anything that upsets the growth apple cart. So, the rates and stance are likely to remain unchanged.

Investors should be focussed on the growth and earnings prospects of different sectors and companies within sectors. Banking, capital goods and autos are on strong wicket.

- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

4:04 PM

Paytm gains 7% after founder Vijay Shekhar Sharma inks deal to buy stake from Antfin

On closing of this transaction, Sharma's shareholding in Paytm (direct and indirect) will increase to 19.42 per cent, whereas Antfin's shareholding will reduce to 13.5 per cent. READ MORE

4:01 PM

Adani Green tanks 12% intra-day after nearly 3% equity change hands via block deal

At 09:15 AM; around 44.24 million shares representing 2.8 per cent of total equity of AGEL changed hands on the BSE, the exchange data showed. READ MORE

3:59 PM

Yatharth Hospital makes a decent debut; stock ends Day 1 at 11% premium to issue price

The stock touched a high of Rs 343, a 14% premium against its issue price of Rs 300 per share on the BSE. READ MORE

3:57 PM

Aurobindo Pharma hits 2-year high; stock zooms 100% thus far in 2023

Aurobindo said its subsidiary Eugia has received a final approval from the USFDA to manufacture and market Vancomycin Hydrochloride for Injection used in treatment of skin and bone infection. READ MORE

3:56 PM

Orient Cement hits 52-week high on heavy volumes; zooms 25% in 3 days

The upward movement in the stock price of the CK Birla Group company has been seen after Ambuja Cement successfully acquired Sanghi Industries in a deal valued at Rs 5,000 crore. READ MORE

3:55 PM

Telecom infra stocks in demand; Birla Cable, Sterlite Tech surge up to 20%

The Union Cabinet on Friday approved Rs. 1.3 trillion ($17 billion) worth of investments to drive the next stage of the government's ambitious Bharatnet project. READ MORE

3:53 PM

Britannia Industries slips 3% as Q1FY24 results misses Street estimates

The biscuit maker's revenue and profit-after-tax (PAT) 8.4/35.6 per cent year-on-year growth in Q1FY24 were below consensus estimates by 2.4/10 per cent, respectively. READ MORE