Sensex, Nifty Halt Two-Week Losing Streak
Vehicles Pass by National Stock Exchange building in Mumbai, India. (Source: BloombergQuint)

Sensex, Nifty Halt Two-Week Losing Streak

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Closing Bell: Sensex, Nifty Halt Two-Week Losing Streak

Indian stocks halted their two-week losing streak.

The S&P BSE Sensex rose 0.35 percent this week to close at 41,599.72 and the NSE Nifty 50 rose 0.24 percent during the period to end at 12,256.50. The broader markets represented by the NSE Nifty 500 Index rose 0.34 percent.

On Friday, the 30-stock index rose 0.36 percent and the 50-share gauge rose 0.33 percent.

The market breadth was tilted in favour of buyers. About 983 stocks advanced and 807 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Realty Index’s 1.8 percent gain. On the flipside, the NSE Nifty Private Bank Index was the only sectoral loser, down 0.18 percent.

Fab Four Stocks Of The Day

KNR Constructions

  • Stock rose as much as 10.6 percent to Rs 281.40.
  • Company to sell its Walayar Toll unit to Singapore-based Cube Highways at an enterprise value of Rs 530 crore.

Sun TV Network

  • Stock rose as much as 9.1 percent to Rs 470.75.
  • Fresh longs seen with high open interest of 31 percent.
  • Trading volume was seven times its 20-day average.

Sterlite Tech

  • Stock rose as much as 4.5 percent to Rs 129.90.
  • Company’s arm acquired 12.8 percent stake in Israel’s ASOCS.
  • The target company belongs to the industry of virtualized radio access network.

CDSL

  • Stock rose as much as 7.9 percent to Rs 270.70.
  • Shares at a 16-month high.

Tata Motors Swings After Reporting December JLR Sales

Shares of Tata Motors fluctuated between gains and losses to trade little changed at 191.55.

The company sold 52,814 Jaguar Land Rover units last month, a gain of 1.3 percent from December 2018, according to its statement on the exchanges.

Market Check: Sensex, Nifty Erase Gains

Indian stocks erased all the gains clocked in the morning trade.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,448.81 and 12,215 respectively. The broader markets represented by the NSE Nifty 500 Index fell 0.08 percent.

Edelweiss Financial Services Drops The Most In Over Three Months

Shares of Edelweiss Financial Services fell as much as 10 percent, the most since Oct. 3, 2019, to Rs 105.45.

That came after the Enforcement Directorate summoned the company’s Chairman and CEO Rashesh Shah, in connection with a Rs 2,000-crore forex scam, Business Today reported without mentioning the source of information.

Stocks Moving On Heavy Volumes

MRPL

  • Stock rose as much as 13.4 percent to Rs 49.20.
  • Trading volume was more than 20 times its 20-day average.

Elgi Equipments

  • Stock rose as much as 2.4 percent to Rs 271.55.
  • Trading volume was more than six times its 20-day average.

Triveni Turbine

  • Stock fell as much as 2.1 percent to Rs 94.05.
  • Trading volume was more than 15 times its 20-day average.
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