Sensex, Nifty End Higher Led By RIL, FMCG stocks
A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Prashanth Vishwanathan /Bloomberg)

Sensex, Nifty End Higher Led By RIL, FMCG stocks

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Markets At Close

  • Nifty ends 2.3 percent higher at 9,187
  • Sensex ends 2.4 percent higher at 31,379
  • Nifty Bank ends 1.5 percent higher at 19,701
  • Nifty Midcap Index ends 0.75 percent higher
  • Nifty Smallcap Index ends 0.5 percent higher
  • India Volatility Index ends 4.9 percent lower at 42.8
  • Nifty Media Index ends as top sectoral gainer; up 6.6 percent
  • Nifty Auto and Nifty FMCG end with gains of over 2.5 percent
  • Zee Entertainment ends as the top Nifty gainer; up 20 percent
  • ONGC ends as the top Nifty laggard; down 5.6 percent
  • 966 stocks end the day with gains while 813 decline

Aiding The Nifty Gains

Closing Bell: Reliance All The Way

Indian Equity markets shrugged off weak global cues to end sharply higher. Reliance Industries was the single biggest contributor to gains, contributing almost half of the upside seen in both benchmarks.

The S&P BSE Sensex ended 2.4 percent higher at 31,379 while the NSE Nifty 50 index ended just a shade below the 9,200 mark at 9,187, higher by 2.3 percent.

Most sectoral indices recovered from their opening lows. The Nifty Media Index was the top gainer, ending with gains of 6.6 percent. Nifty Auto and FMCG also ended with gains of over 2.5 percent.

966 ended the trading with gains while 813 ended with losses.

Stock Update: Spandana Sphoorty

  • Trades at an all-time low
  • Among the worst performers on the Nifty 500 index
  • Fell as much as 6.4 percent to Rs 450
  • Down for the third straight day
  • Down 16 percent in the last three sessions
  • Declined in 8 out of the last 10 sessions
  • Falls 24 percent in the last 10 sessions
  • Today's volumes are 0.4 times higher than its 30-day average
  • Stock in oversold territory with Relative Strength Index (RSI) at 26
  • Has declined 68 percent from its 52-week high of Rs 1,397 on November 8, 2019
  • All 5 analysts tracking the stock have a buy recommendation
  • Return potential for the stock as per Bloomberg data at 175 percent

Outcome Of Board Meeting: Indian Hotels

The company held its board meeting today where the Board of Directors approved raising long-term funds not exceeding Rs 750 crore.

The funds will be raised via External Commercial Borrowings, Foreign Currency Borrowings, Non-Convertible Debentures, Term Loans or through any other instrument in one or more tranches, the company said in a statement to the exchanges.

Shares fell as much as 3.58 percent to Rs 76.75 and are lower for the second day in a row.

Stock Update: Colgate-Palmolive

  • Trades at a three-month high
  • Top performer on the Nifty FMCG index
  • Gains as much as 8.1 percent to Rs 1,518
  • Biggest one-day gain since September 2019
  • Up for the second straight day
  • Gains 10 percent in the last two sessions
  • Today's volumes are 4.4 times higher than its 30-day average
  • Relative Strength Index (RSI) at 72 indicating stock may be overbought
  • 18 out of the 36 analysts tracking the stock have a buy recommendation; 7 sell calls
  • The stock trades 7.6 percent above its 12-month consensus price target of Rs 1,387.4
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