Sensex, Nifty End Mixed On A Volatile Day As HDFC Bank’s Losses Offset Gains In RIL
The Bombay Stock Exchange (BSE) logo is displayed on a cordon at the bourse’s building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

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

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

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

The S&P BSE Sensex rose 0.02 percent to close at 40,802.17 while the NSE Nifty 50 fell 0.07 percent to 12,048. The broader markets represented by the NSE Nifty 500 Index fell 0.16 percent.

The market breadth was tilted in favour of sellers. About 1,095 stocks declined and 718 shares advanced on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty IT Index’s 0.97 percent fall. On the flipside, the NSE Nifty Metal Index was the only sectoral gainer, up 0.27 percent.

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

Fab Four Stocks Of The Day

Jagran Prakashan

  • Stock rose as much as 10.6 percent, the most since Nov. 21, to Rs 61.05.
  • The company plans to consider share buyback on Dec. 9.

Escorts

  • Stock rose as much as 4.6 percent to Rs 666.40.
  • Fresh longs seen with high open interest of 13 percent.
  • Trading volume was more than double its 20-day average.

Adani Transmission

  • Shares extended gains for the second consecutive trading session.
  • The stock rose as much as 10.1 percent to hit an all-time high at Rs 341.35.
  • The scrip rallied 25 percent in the past five days and advanced 19 percent in the past 30 days, according to Bloomberg data.

Grasim

  • Stock rose as much as 4.4 percent to Rs 822.
  • Vodafone Idea hikes telecom tariffs.
  • Grasim is promoter company of Vodafone Idea.

IPO Update: Ujjivan Small Finance Bank’s IPO Fully Subscribed

Ujjivan Small Finance Bank’s initial public offering was fulling subscribed on the first day of sale, Bloomberg reported quoting NSE data.

Stocks Moving On Heavy Volumes

Suven Life Sciences

  • Stock fell as much as 20 percent to Rs 251.90.
  • Trading volume was more than eight times its 20-day average.

Trident

  • Stock rose as much as 10.9 percent to Rs 72.80.
  • Trading volume was almost six times its 20-day average.

Coromandel International

  • Stock rose as much as 3.2 percent to Rs 490.
  • Trading volume was almost five times its 20-day average.

Market Check: Sensex, Nifty Set For A Volatile Close

Indian equity benchmarks are set for a volatile close.

The S&P BSE Sensex and the NSE Nifty 50 fluctuated between gains and losses to trade little changed at 40,798 and 12,049 respectively. The broader markets represented by the NSE Nifty 500 Index fell 0.15 percent.

Tata Power Falls After HSBC Cuts Price Target

Shares of Tata Power fell as much as 3.1 percent to Rs 55.55 after brokerage firm HSBC cut its price target to Rs 65 from Rs 75.

Here’s what the analyst had to say:

  • Maintained ‘Hold’; cut price target to Rs 65 from Rs 75.
  • Deleveraging effort and Mundra resolution remains slow in current uncertain environment.
  • Regular progress on renewable commissioning and acquisition of distressed power plants provide hope for future.
  • Cut price target to factor in delay timeline for resolution and lower coal price.
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