Sensex, Nifty End Near Day’s High; Post Second Day Of Gains
A screen displays a financial data graph inside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany. (Photographer: Alex Kraus/Bloomberg)

Sensex, Nifty End Near Day’s High; Post Second Day Of Gains

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Markets At Close

  • Benchmark indices gain for the second straight day; end near day's high
  • Nifty ends 2.1 percent higher at 9,066
  • Nifty futures trade at a premium of 20 points
  • Sensex ends 2.06 percent higher at 30,818
  • Nifty Bank ends 2 percent higher at 17,840
  • Nifty Midcap Index ends with gains of 1.55 percent
  • Nifty Smallcap Index ends 1 percent higher
  • India Volatility Index down 9.8 percent to 35.59
  • Nifty Pharma ends as the top sectoral gainer; up 4.1 percent
  • Nifty Auto, Nifty Media and Nifty Realty index end with gains of over 2 percent
  • Nifty Metal and Nifty FMCG index gain over 1 percent each
  • Dr Reddy's Laboratories ends as the top Nifty gainer; up 6 percent
  • Bharti Infratel ends as the top Nifty laggard; down 7 percent
  • 1,074 stocks on the NSE end with gains while 655 end with losses

Top Contributors To The Nifty & The Sectoral Picture

Closing Bell: Second Day Of Gains

Indian equity markets gained for second straight day, after a last hour surge took benchmark indices to their highest point of the day.

European markets continue to trade with modest losses while futures on the Dow Jones are at the day's high, up 270 points.

The S&P BSE Sensex ended 2 percent higher at 30,818, nearly 700 points off the day's low. The NSE Nifty 50 index too ended with gains of 2.1 percent at 9,066, rebounding almost 200 points from the lowest point of the day.

42 out of the 50 Nifty constituents, ended with gains. Broader markets underperformed the benchmarks with the midcap and smallcap index gaining 1.7 and 1.1 percent respectively.

Market breadth remained in favour of the advances throughout the trading session. 1,065 stocks on the NSE ended with gains while 669 posted losses.

Trading Ideas From Shrikant Chouhan Of Kotak Securities

  • Buy Nifty for target of 9,200 and stop loss of 8,980
  • Buy Tata Steel for target of Rs 295 and stop loss of Rs 277
  • Buy Bajaj Finserv for target of Rs 4,950 and stop loss of Rs 4,600

Stock Update: Page Industries

  • Second best performing stock on the Nifty Next 50 index
  • Gains as much as 7 percent to Rs 18,730
  • Up for six out of the last 8 trading sessions
  • Up 10 percent in the last 8 trading sessions
  • Today's volumes are 1.3 times higher than its 30-day average
  • Breaks above its 50-Day Moving Averge of Rs 17,963
  • Has gained 14.1 percent from its 52-week low of Rs 16,254 on March 23, 2020
  • 4 out of the 18 analysts tracking the stock have a buy recommendation; 8 sell calls
  • The stock trades 8 percent above its 12-month consensus price target of Rs 17,093, implying a negative return potential

Earnings Fineprint & Stock Reaction: Ultratech Cement Q4FY20

  • Revenue down 13.1 percent to Rs 10,745
  • Net profit up 3 times to Rs 3,242.8 crore
  • Ebitda down 3.9 percent to Rs 2,442.7 crore
  • Ebitda margins expand to 22.7 percent from 20.5 percent
  • Net-Debt to Ebitda reduced to 1.7 times from 2.83 times on March 2019
  • Approves issue of NCDs from time to time
  • Declares dividend of Rs 13 per share
  • Deferred tax reversal of Rs 2,024 crore this quarter

Shares ended the trading day with gains of 3 percent at Rs 3,541.

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