Sensex, Nifty Halt Four-Day Record-Closing Streak
A trader monitors graphs and financial information on the trading inside a stock exchange. (Photographer: Alex Kraus/Bloomberg)

Sensex, Nifty Halt Four-Day Record-Closing Streak

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Closing Bell: Sensex, Nifty Halt Four-Day Record-Closing Streak

Indian equity benchmarks ended with marginal losses, halting their four-day record closing streak.

The S&P BSE Sensex fell 0.09 percent to end at 41,642.66 and the NSE Nifty 50 fell 0.07 percent to close at 12,262.75. The broader markets represented by the NSE Nifty 500 Index fell 0.08 percent.

The market breadth was tilted in favour of sellers. About 969 stocks declined and 839 shares advanced on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Media Index’s 0.86 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 1.34 percent.

Stocks Moving On Heavy Volumes

LUX Industries

  • Stock fell as much as 8.2 percent to Rs 1,286.
  • Trading volume was almost 13 times its 20-day average.

Nesco

  • Stock rose as much as 8.7 percent to Rs 694.70.
  • Trading volume was six times its 20-day average.

Bharat Rasayan

  • Stock rose as much as 2.3 percent to Rs 6,390.
  • Trading volume was more than 11 times its 20-day average.

Fab Four Stocks Of The Day

BASF India

  • Stock rose as much as 6.3 percent to Rs 1,019.
  • Lone Star to acquire construction chemicals business for 3.17 billion Euros.

IndiaMART InterMESH

  • Stock rose as much as 9.6 percent to Rs 2,174.70.
  • Jefferies initiated ‘Buy’ rating with a price target at Rs 2,500, implying a potential upside of 21.5 percent form the current market price.

Reliance Infra

  • Stock rose as much as 4.9 percent to Rs 24.30.
  • Wins arbitration award of Rs 1,250 crore against Damodar Valley Corporation.
  • Seeks immediate payment of 75 percent of dues.

Muthoot Finance

  • Stock rose as much as 2.4 percent to Rs 749.65.
  • Fresh longs seen with high open interest of 42 percent.

Crisil Extends Gain For Third Day, Shares Rise The Most In Over Four Months

Shares of Crisil extended gains for the third consecutive trading session. The stock rose as much as 6.8 percent, the most since Aug. 14, 2019, to Rs 1,924.

The company plans to buy Greenwich Associates for $40 million. The acquisition is expected to be completed by January- March quarter, according to its stock exchange notification on Dec. 20.

Trading volume was almost five times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.

Heritage Foods Halts Four-Day Losing Streak, Shares Surge Nearly 7%

Shares of Heritage Foods halted their four-day losing streak. The stock rose as much as 6.7 percent to Rs 349.

Of the shares traded, 37 percent were at the ask price and 55 percent were at the bid, according to Bloomberg data.

The stock declined 36 percent in the past 12 months compared to an 16 percent advance in the Sensex. The scrip traded 19 times its estimated earnings per share for the coming year, Bloomberg data showed.

Market Check: Sensex, Nifty Decline

Indian equity benchmarks declined after fluctuating between gains and losses in the morning trade.

The S&P BSE Sensex fell 0.3 percent to 41,566 and the NSE Nifty 50 fell 0.2 percent to 12,243. The broader markets represented by the NSE Nifty 500 Index fell 0.19 percent.

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