Sensex, Nifty End Volatile Session Higher Led By HDFC Twins, ICICI Bank
An employee walks past an electronic board that indicates the latest stock figures at the National Stock Exchange (NSE) in Mumbai (Photographer: Dhiraj Singh/Bloomberg)  

Sensex, Nifty End Volatile Session Higher Led By HDFC Twins, ICICI Bank

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Markets At Close

  • Benchmark indices end volatile session with gains
  • Recovery led by HDFC Twins, ICICI Bank
  • Nifty ends 1% higher at 9,914
  • Sensex ends 1.1% higher at 33,605
  • Nifty Bank ends 1.9% higher at 20,296
  • Nifty Midcap Index ends 0.44% higher
  • Nifty Smallcap Index ends 0.1% lower
  • India Volatility Index ends 1.2% higher at 32.96
  • Nifty Media and Metal Index end with gains of over 1%
  • Nifty PSU Bank (down 0.9%), Nifty Realty (down 0.8%), Nifty Pharma (down 0.6%) and Nifty FMCG (down 0.4%) were the sectoral laggards
  • HDFC Bank ends as the top Nifty gainer; up 4.1%
  • Tata Motors ends as the top Nifty laggard; down 5.9%
  • 846 stocks on the NSE end with gains while 983 decline

Aiding Gains On The Nifty

Closing Bell: End To A Volatile Session

Indian equity markets ended a volatile session with gains after giving up most of them during the second half of trade.

Tensions on the India-China border led to investors booking profits from the highest point of the day.

The S&P BSE Sensex ended 1.13% higher at 33,605. The index ended over 600 points lower from its day's high of 34,022.

The NSE Nifty 50 ended 130 points off the day's high of 10,046. The index ended 1% higher at 9,914. Broader markets underperformed in today's session.

Among sectoral indices, the Nifty Bank ended with gains of 2% led mainly by HDFC Bank and ICICI Bank. The media and metal index ended with gains of over 1% while I.T. and Auto indices ended flat.

FMCG, Pharma, PSU Bank and Realty indices were the sectoral laggards.

Market breadth ended in favour of the declines. 983 stocks on the NSE ended with losses while 846 posted gains.

Stock Update: Natco Pharma

  • Trades at the highest level in four months
  • Gains as much as 6% to Rs 642.4
  • Up for the second straight day
  • Today's volumes are double than its 30-day average
  • Has gained over 50% from its 52-week low of Rs 402.55 on March 25, 2020
  • 12 out of the 17 analysts tracking the stock have a buy recommendation; 0 sell calls
  • Return potential of the stock as per Bloomberg data is 10.6%

Stock Update: Insecticides India

  • Trades at the highest level in four months
  • Gains as much as 7.5% to Rs 499.5.
  • Fifth straight day of gains
  • Longest winning streak in two months
  • Up 21.2% in the last five trading sessions
  • Today's volumes are 6.7 times higher than its 30-day average
  • Trades around its 200-Day Moving Average of 478
  • Stock is in overbought territory with Relative Strength Index (RSI) at 76
  • Has more than doubled from its 52-week low of Rs 206.4 on March 24, 2020
  • Six out of the seven analysts tracking the stock have a buy recommendation
  • Return potential of the stock as per Bloomberg data is 49.5%

More Pressure Likely On The Currency

Recurring border tensions with China or Pakistan have been weighing on the Rupee, and the latest flare-up will add more pressure, according to the ING Group.

Prakash Sakpal, an economist with ING told Bloomberg that the currency can depreciate towards 77.40 against the U.S. Dollar over the next three months.

The rupee ended 0.24% lower in today's trading session at 76.21. It also ended as the worst performing currency among its Asian peers.

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