Sensex, Nifty Rally To Recoup Last Two Days’ Losses
Closing Bell: Sensex, Nifty Rally To Recoup Last Two Days' Losses
Indian equity benchmarks ended higher, erasing the losses they clocked during the last two trading sessions.
The S&P BSE Sensex closed 0.74 percent or 292 points higher at 39,686.50 and the NSE Nifty 50 ended at 11,864.55, up 0.65 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.57 percent higher.
The market breadth was tilted in favour of buyers. About 902 stocks advanced and 871 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Media Index’s 3.4 percent advance. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.2 percent.
Block Deal Alert: M&M
About 12 lakh shares of Mahindra & Mahindra changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Europe Market Check: Equities Gain
European shares gained on Monday after the U.S. and China reached a temporary truce in the trade war, with President Donald Trump saying America was “winning.”
Sugar Stocks Rally; Ugar Sugar Works Jumps Nearly 10%
Shares of the sugar companies rallied in today’s trade.
Shares of Ugar Sugar Works Ltd. rose 9.6 percent to Rs 15.45, while shares of Mawana Sugars rose 4.7 percent to Rs 49.20. Shares of Khaithan India and Rana Sugars rose 4.4 percent and 3.6 percent respectively.
Balrampur Chini Mills rose 1.2 percent to Rs 141.30 while Bannari Amman Sugars rose 2.2 percent.
Fab Four Stocks Of The Day
- Stock rose as much as 15.7 percent to Rs 59.40.
- The company’s board approved proposal to acquire Korba West Power and GMR Chhattisgarh Energy.
- Stock rose as much as 10.6 percent to Rs 32.90.
- The company entered into a joint venture with Birla Group for realty development.
- Stock rose as much as 5.5 percent to Rs 306.
- The company unit plans to save $400 million in value of import savings.
- Stock rose as much as 5.3 percent to hit an all-time high at Rs 1,065.
- The scrip is the best performer on Nifty Realty Index.
Nifty Sees Resistance At 11,970, StockAxis Says
“The Nifty had made a low at 11,620 and now the base has been shifted on the higher side,” StockAxis’ Senior Technical Analyst Brijesh Singh told BloombergQuint in an interaction. “The 50-stock index is seeing a resistance at 11,970 and a support at 11,700.”