Sensex, Nifty End Mixed On A Volatile Day As ICICI Bank’s Losses Offset Gains In HDFC Bank
An employee looks at trading information on a computer screen at an exchange office. (Photographer: Simon Dawson/Bloomberg)

Sensex, Nifty End Mixed On A Volatile Day As ICICI Bank’s Losses Offset Gains In HDFC Bank

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Closing Bell: Sensex, Nifty End Mixed On A Volatile Day As ICICI Bank’s Losses Offset Gains In HDFC Bank

Indian equity benchmarks ended mixed after a topsy-turvy session as gains in HDFC Bank Ltd. were offset by losses in ICICI Bank Ltd.

The S&P BSE Sensex fell 0.04 percent to close at 41,558 while the NSE Nifty 50 rose 0.08 percent to 12,255.85. The broader markets represented by the NSE Nifty 500 Index rose 0.16 percent.

The market breadth was tilted in favour of buyers. About 1,075 stocks advanced and 747 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Auto Index’s 1.5 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 1.2 percent.

Stocks Moving On Heavy Volumes

ICICI Securities

  • Stock swung from a gain of as much as 5.9 percent to fall as much as 6.3 percent.
  • Trading volume was almost 13 times its 20-day average.

Federal-Mogul Goetze

  • Stock rose as much as 1.1 percent to Rs 664.80.
  • Trading volume was more than eight times its 20-day average.

GE Power India

  • Stock rose as much as 3.5 percent to Rs 745.
  • Trading volume was more than nine times its 20-day average.

Vaibhav Global

  • Stock rose as much as 2.6 percent to Rs 829.50.
  • Trading volume was more than seven times its 20-day average.

Fab Four Stocks Of The Day

Balaji Amines

  • Stock rose as much as 15.1 percent, the most since Nov. 7, 2019, to Rs 416.70, the highest since May 29, 2019.
  • Brokerage and research firm HDFC securities recommended investors to buy at Rs 362 and has a target of Rs. 398.50-445.50 in the next 12 months.

Essel Propack

  • Stock extended gains for the second consecutive trading session. The stock rose as much as 7.7 percent to hit an all-time high at Rs 185.70.
  • The stock returned 70 percent in the past 12 months.

Mindtree

  • Stock rose as much as 2.6 percent to Rs 807.
  • Fresh longs seen with high open interest of 31 percent.
  • Trading volume was 1.5 times its 10-day average.

Rites

  • Stock rose as much as 3 percent to Rs 294.
  • Board approved to acquire 24 percent stake in IESDC for Rs 48 crore.
  • Declared interim dividend of Rs 6.

Large Trade Alert: Balrampur Chini, Dish TV

  • Balrampur Chini: About 23 lakh shares of the company changed hands in a large trade.
  • Dish TV: About 2.48 crore shares of the company changed hands in a large trade.

Buyers and sellers were not known immediately.
Source: Bloomberg

Essel Propack Surges 8% To Record High

Shares of Essel Propack extended gains for the second consecutive trading session. The stock rose as much as 7.7 percent to hit an all-time high at Rs 185.70.

The stock returned 70 percent in the past 12 months. The Relative Strength Index was above 70, indicating that the stock may be overbought, according to Bloomberg data.

SpiceJet Off Day’s High, Shares Up 6%

Shares of SpiceJet rose 6.3 percent to Rs 110.25. The stock had risen as much as 14.8 percent earlier.

Trading volume was 10 times its 20-day average, according to Bloomberg data. Of the shares traded, 44 percent were at the ask price and 46 percent were at the bid.

The stock had declined 25 percent in the past 12 months compared to a 15 percent gain in the Sensex.

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