Sensex, Nifty Log Best Single-Day Rally In Three Months
A traffic signal stands illuminated next to the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Log Best Single-Day Rally In Three Months

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Closing Bell: Sensex, Nifty Log Best Single-Day Rally In Three Months

Indian stocks clocked their best single-day rally since Oct. 9, 2019.

The S&P BSE Sensex rose 1.55 percent to close at 41,252.35 and the NSE Nifty 40 rose 1.58 percent to end at 12,215.40. The broader markets represented by the NSE Nifty 500 Index rose 1.52 percent.

The market breadth was tilted in favour of buyers. About 1,337 stocks advanced and 464 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Auto Index’s 2.7 percent gain. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.18 percent.

Sensex, Nifty Log Best Single-Day Rally In Three Months

Fab Four Stocks Of The Day

Aster DM Healthcare

  • Stock rose 7.2 percent to Rs 171.70 each.
  • Board approves buyback of 1.13 percent stake at Rs 210 per share aggregating to Rs 120 crore; record date set as January 24

Sunteck Realty

  • Stock rose 7.1 percent to Rs 454.85 apiece.
  • Signs MoU with SBI for financing 3 residential projects under bank’s Residential Business Finance with buyer guarantee scheme.

Finolex Industries

  • Stock rose 6.2 percent to Rs 171.70 each.
  • HSBC Maintained 'Buy'; hiked target price to Rs 710 from Rs 680.
  • Decline in raw material prices to help PVC resin earnings; pipes business should recover too post extended monsoon, said the brokerage.

BGR Energy Systems

  • Stock rose 16.4 percent to Rs 40.80 each.
  • Secured order worth Rs 224 crore from Tamil Nadu Transmission Corporation for building a power station.

Global Markets Update: U.S. Stock Futures Gain

Stocks rose across Europe and Asia and U.S. equity futures climbed on Thursday, extending a relief rally after America and Iran appeared to step back from a deeper military conflict. The yen and gold declined and oil steadied after a plunge.

  • Futures on the S&P 500 Index rose 0.3 percent.
  • The Stoxx Europe 600 Index rose 0.5 percent.
  • The MSCI Asia Pacific Index gained 1.3 percent.

Infosys Gains After Large Trade, Ahead Of Q3 Earnings

Shares of Infosys rose 1.4 percent to Rs 728.25. The stock had risen as much as 1.9 percent earlier.

About 3.5 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Besides, the software developer is set to announce its December quarter results tomorrow.

Jindal Saw Surges Over 12% On Heavy Volumes

Shares of Jindal Saw rose as much as 12.4 percent to Rs 94.50, the highest since March 15, 2019.

Trading volume was more than five times its 20-day average, Bloomberg data showed. The stock extended gains for the third consecutive trading session.

The Relative Strength Index was above 70, indicating that the stock may be overbought, according to Bloomberg data.

Jindal Saw Surges Over 12% On Heavy Volumes

Shares of Jindal Saw rose as much as 12.4 percent to Rs 94.50, the highest since March 15, 2019.

Trading volume was more than five times its 20-day average, Bloomberg data showed. The stock extended gains for the third consecutive trading session.

The Relative Strength Index was above 70, indicating that the stock may be overbought, according to Bloomberg data.

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