Sensex, Nifty Struggle To Hold Gains; End Little Changed
Markets At Close
- Benchmark indices give up gains; end little changed
- Nifty ends 0.1% lower at 9,029
- Nifty futures trade at a premium of 19 points
- Sensex ends 0.2% lower at 30,609
- Nifty Bank ends 0.9% higher at 17,440
- Nifty Midcap index ends 1.3% higher
- Nifty Smallcap index ends 0.8% higher
- India Volatility Index down 3.1% to 31.36
- Nifty Metal index ends as the top sectoral gainer; up 2.7%
- Nifty Auto, Nifty FMCG and Nifty Realty end with gains of over 1%
- Nifty I.T. ends as the top sectoral laggard; down 1.9%
- Nifty Pharma (down 1.2%) and Nifty Media (down 0.2%) were the other sectoral laggards
- JSW Steel ends as the top Nifty gainer; up 5.8%
- Bharti Airtel ends as the top Nifty laggard; down 6%
- 918 stocks on the NSE end with gains while 856 stocks post losses
What Dragged The Nifty Lower
Closing Bell: A Subdued Closing
Indian equity markets failed to hold on to their opening gains, ending with minor losses at the start of the truncated expiry week.'
Sentiment in the Indian market remained volatile despite European markets trading positive and futures on the Dow Jones that are trading higher by 520 points.
Both the S&P BSE Sensex and the NSE Nifty 50 ended little changed at 30,609 and 9,029 respectively. The benchmark indices shed over 550 and 165 points respectively from their highest point of the day.
Among sectoral indices, the Nifty Metal index ended as the top gainer while the Nifty I.T. index ended as the top laggard. The FMCG and Auto index too ended with healthy gains.
Market breadth remained mostly even throughout the session. 918 stocks on the National Stock Exchange ended with gains while 856 ended with losses.
Earnings Reaction: Praj Industries
- Net profit down 25% year-on-year to Rs 24.68 crore
- Revenue down 20% year-on-year to Rs 296 crore
- Shares fluctuated after the earnings announcement, currently trading 1.5% lower at Rs 55, snapping a three-day losing streak.
Stock Update: Aarti Drugs
- Trades at an all-time high
- Gains as much as 4.44% to Rs 890
- Up for the fourth straight day
- Longest winning streak in a month
- Gains 15.2% in the last 4 trading sessions
- Today's volumes are 1.7 times higher than its 30-day average
- Has more than doubled from its 52-week low of Rs 419 on August 5, 2019
- 3 out of the 4 analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential of the stock as per Bloomberg data is 10.3%