Sensex, Nifty Begin 2020 On A Cautious Note
The Bombay Stock Exchange (BSE) logo is displayed on a biometric security and authentication device at the bourse’s building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Begin 2020 On A Cautious Note

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Closing Bell: Sensex, Nifty Begin 2020 On A Cautious Note

Indian equity benchmarks kicked off 2020 on a muted note as gains in HDFC twins were offset by the losses in Reliance Industries Ltd.

The S&P BSE Sensex rose 0.13 percent or 52 points to end at 41,306.02 and the NSE Nifty 50 rose 0.12 percent or 14 points to close at 12,182.50. The broader markets represented by the NSE Nifty 500 Index rose 0.16 percent.

The market breadth was tilted in favour of buyers. About 1,017 stocks advanced and 735 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 0.52 percent fall. On the flip side, the NSE Nifty IT Index was the top sectoral gainer, up 0.45 percent.

ApeeJay Surrendra Park Hotels Files For IPO

  • ApeeJay Surrendra Park Hotels files DRHP for Rs 1,000-crore initial public offer.
  • The IPO will include Rs 400 crore worth of fresh issue of shares.

Source: Bloomberg

Stocks Moving On Heavy Volumes

SKF India

  • Stock swung from a fall of as much as 1 percent to gain as much as 1 percent.
  • Trading volume was almost seven times its 20-day average.

Aster DM Healthcare

  • Stock rose as much as 6.4 percent to Rs 170.95.
  • Trading volume was almost five times its 20-day average.

Natco Pharma

  • Stock rose as much as 6.9 percent to Rs 634.80.
  • Trading volume was almost five times its 20-day average.

Fab Four Stocks Of The Day

APL Apollo Tubes

  • Shares extended gains for the fifth consecutive trading session. The stock rose as much as 3.3 percent to Rs 1,939.
  • The company reported sales volume of 4,80,225 MTPA during the December quarter compared to 3,14,707 clocked in the year-ago period.

Adani Green Energy

  • Shares extended gains for the third consecutive trading session. The stock hit an upper circuit of 5 percent to hit an all-time high at Rs 174.75.
  • The company’s arm commissioned its 75-megawatt wind power project having PPA with MSEDCL at Rs 2.85 per unit for 25 years. The commercial sale of power from the project to MSEDCL to commence from Jan. 1.

Apex Frozen Foods

  • Shrimp makers rally, led by Apex Frozen Foods
  • Shares rose as much as 17.9 percent to Rs 407.

Sterling & Wilson Solar

  • Shares extended gains for the fourth consecutive trading session. The stock rose as much as 5 percent to Rs 339.45.
  • The promoters enabled repayment of Rs 1,000 crore from date of listing to Dec. 31. The outstanding loan from date of the listing has fallen to Rs 1,644 crore from Rs 2,563 crore.
  • The promoters have proposed to facilitate repayment of balance outstanding loan amount in three tranches till September 2020.

Escorts Extends Decline On Weak December Sales Data

Shares of Escorts extended declines for the second consecutive trading session. The stock fell as much as 3.5 percent to Rs 607.85.

The company sold 4,114 tractors last month, a fall of 10.5 percent from the year-ago period, according to its exchange filing.

Key Highlights (YoY)

  • Domestic sales declined 9.6 percent to 3,806 units.
  • Export sales fell 20.2 percent to 308 units.

APL Apollo Tubes Extends Gain, Shares Advance 15% In Five Days

Shares of APL Apollo Tubes extended gains for the fifth consecutive trading session. The stock rose as much as 3.3 percent to Rs 1,939.

The company reported sales volume of 4,80,225 MTPA during the December quarter compared to 3,14,707 clocked in the year-ago period.

The scrip advanced 15 percent in the five trading sessions. The Relative Strength Index was above 70, indicating that the stock may be overbought, Bloomberg data showed.

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