Sensex, Nifty End Week On A High Note But Fail To Recoup Losses
Closing Bell: Sensex, Nifty End Week On A High Note But Fail To Recoup Losses
Indian equity benchmarks clocked their best gains of the week. But resumed weekly declines.
The S&P BSE Sensex closed 0.92 percent higher at 36,981.77 and the NSE Nifty 50 closed 0.91 percent higher at 10,946.20. The broader markets represented by the NSE Nifty 500 Index ended 0.84 percent.
This week, the 31-stock index and the 50-share gauge fell 0.94 percent and 0.7 percent respectively. The 500-stock gauge declined 0.6 percent.
“So far, the measures announced have come slightly late, which has led to a loss of confidence in Indian stocks,” Bloomberg reported quoting Deven Choksey of KR Choksey Shares & Securities.
“Investors will be relieved if the government takes more positive measures and removes certain bottlenecks for investments,” Choksey told Bloomberg.
The market breadth was tilted in favour of buyers. About 1,160 stocks advanced and 592 shares declined on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Metal Index’s 1.9 percent gain. On the flipside, the NSE Nifty Realty Index was the top sectoral loser, down 0.66 percent.
Info Edge Falls Nearly 7%
Shares of Info Edge fell as much as 6.9 percent, the most since Aug. 23, to Rs 2,024.15.
The stock snapped its four-day gaining streak, its longest gaining streak since June 25. Info Edge India trades at 66 times its estimated earnings per share for the coming year, according to Bloomberg data.
Block Deal Alert: Karur Vysya Bank, Tata Motors
- Karur Vysya Bank: About 1.08 crore shares changed hands in a block deal.
- Tata Motors: About 15 lakh shares changed hands in a block deal.
Buyers and sellers were not known immediately.
Market Check: Sensex, Nifty Set To Resume Weekly Declines
Indian equity benchmarks are headed for their best day of the week. But, set to set to resume weekly declines.
The S&P BSE Sensex rose 0.76 percent to 36,923 as of 3 p.m. and the NSE Nifty 50 rose 0.72 percent 10,925.30. The broader markets represented by the NSE Nifty 500 Index rose 0.61 percent.
Fab Four Stocks Of The Day
- Stock rose as much as 9.4 percent to Rs 219.
- Company received contract worth Rs 4502 crore from Maharashtra’s Cidco.
- Stock rose as much as 5.2 percent.
- Fresh longs seen with high open interest of 20 percent.
- Stock hit upper circuit of 20 percent
- Company to consider delisting of shares on Sept. 10.
- Promoters intent to acquire 49.9 percent stake from public share holders
- Stock rose as much as 5.2 percent to Rs 150.
- CLSA upgraded the stock rating to ‘Buy’ from ‘Sell’ with a price target at Rs 180.
Stocks Moving On Heavy Volumes
- Stock rose as much as 2.5 percent to Rs 249.45.
- Trading volume as almost 15 times its 20-day average.
- Stock fell as much as 12.1 percent to Rs 167.90.
- Trading volume was almost nine times its 20-day average.
- Stock rose as much as 3.5 percent to Rs 145.05.
- Trading volume was eight times its 20-day average.
- Stock rose as much as 2.9 percent to Rs 2,049.
- Trading volume was almost seven times its 20-day average.