RIL, HDFC Help Nifty To Close At Record High
The NSE headquarters in Mumbai, India. (Photographer: Sajeet Manghat/BloombergQuint)

RIL, HDFC Help Nifty To Close At Record High

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Closing Headline: RIL, HDFC Help Nifty To Close At Record High

Indian equity benchmark NSE Nifty 50 extended gains for the second consecutive trading session and closed at a record high.

The 50-stock index rose 0.82 percent to end at an all-time high at 12,282.95. The S&P BSE Sensex rose 0.78 percent to close at 41,626.64. The broader markets represented by the NSE Nifty 500 Index rose 0.92 percent.

The market breadth was tilted in favour of buyers. About 1,337 stocks advanced and 462 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Metal Index’s 2.6 percent gain. On the flip side, the NSE Nifty IT Index was the only sectoral loser, down 0.08 percent.

RIL, HDFC Help Nifty To Close At Record High

Marico Falls On Quartely Updates

Shares of Marico fell as much as 2.8 percent, the most since Nov. 26, 2019, to Rs 336.10 on company’s update for December quarter.

Marico says:

  • Category growths across personal care remained under pressure.
  • Foods and allied categories fared slightly better.
  • The company continued to consolidate market share.
  • Traditional channels stayed weak.
  • Channel partners continued to face liquidity challenges.
  • Continued to see soft demand environment.
  • Growth in Modern Trade and ECommerce also slowed down.
  • Saffola Oils and Foods saw double-digit volume growth.
  • Coconut Oil, Hair Oils and other portfolios saw a marginal decline.
  • Operating margins improve owing to lower input costs.
  • Expect green shoots of recovery in December quarter.
  • To see gradual revival in sentiment.
  • Growth expected on good monsoons, government measures.

Source: Exchange filing

Stocks Moving On Heavy Volumes

MOIL

  • Stock rose as much as 8.5 percent to Rs 158.80.
  • Trading volume was more than 20 times its 50-day average.

Ajanta Pharma

  • Stock rose as much as 0.6 percent to Rs 984.
  • Trading volume was almost 20 times its 50-day average.

Elgi Equipment

  • Stock rose as much as 9.7 percent to Rs 284.
  • Trading volume was almost 17 times its 50-day average.

Cholamandalam Financial Holdings

  • Stock rose as much as 2.6 percent to Rs 516.
  • Trading volume was more than 15 times its 50-day average.

Large Trade Alert: Infosys

About 10.5 lakh shares of Infosys changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

TVS Motor Sales Decline 15%

TVS Motor Company sold 2,31,571 units last month a fall of nearly 15 percent from December 2018, the Chennai-based company said in a stock exchange filing.

Key sales highlights (YoY)

  • Two-wheeler sales fell 16.7 percent to 2,15,619 units.
  • Domestic two-wheeler sales fell 25.1 percent to 1,57,244 lakh units.
  • Motorcycle sales fell 12.6 percent to 93,697 units.
  • Scooter sales fell 18.3 percent to 74,716 units.
  • Three-wheeler sales rose 26 percent to 15,952 units.
  • Two-wheeler exports rose 20 percent to 58,375 units.
  • Overall exports rose 22 percent to 73,512 units.

Shares of TVS Motor fell as much as 2.7 percent to Rs 456 after the announcement.

Fab Four Stocks Of The Day

Sterlite Tech

  • Stock rose as much s 8.6 percent to Rs 128.40.
  • Awarded multi-year deal worth Rs. 1800 crore from government of Telangana

Tata Motors

  • Stock rose as much as 5.6 percent to Rs 194.70.
  • Top gainer on the Nifty after reporting better than estimated sales numbers in December.

Hindustan Copper

  • Shares extended gains for the third consecutive trading session. The stock hit an upper circuit of 20 percent at Rs 48.50.
  • Copper prices gain for a sixth consecutive week.

SAIL

  • Stock rose as much as 10.7 percent to Rs 47.50.
  • December sales jumped 47 percent to 1.68 million tonnes, according to a Bloomberg report.
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