After a volatile session, the Indian stock market ended flat on Monday. The domestic market traded on a flat note during the mid-afternoon session as investors’ sentiments were buoyed on the back of positive Asian markets, coupled with short covering and value-buying.
Today’s upsurge was led by the telecom, realty, power, FMCG, oil & gas, metals, utilities, auto and pharma stocks, while consumer durables, banking stocks and finance stocks closed in red on BSE. Banking stocks recovered after falling up to 4% following RBI’s cash reserve ratio (CRR) hike on incremental deposits.
Nifty closed 13 points higher at 8,127 points, while BSE Sensex ended with a gain of 34 points at 26,350.
On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed higher by 0.5%. Nikkei 225 slipped 0.13%.
In Europe, the FTSE 100 and DAX were trading in red. CAC 40 is trading lower by 1%.
Sadbhav Engineering slipped 2% after the company posted a net profit after tax of Rs 18.5 crore for the quarter ended September 30, 2016 as compared to Rs 27.8 crore for the quarter ended September 30, 2015.
Suzlon Energy gained 2% after the company secured a fourth consecutive order for 50.40MW wind power project from a business house. The project consists of 24 units of S95 90m tubular tower with rated capacity of 2.1 MW. Located in the district of Anantapur, Andhra Pradesh, the project is scheduled for completion in March 2017.
Abbott India soared 4.8%. The company reported 23% increase in standalone net profit at Rs 75 crore for the quarter ended September 30. The company’s net profit in the corresponding quarter of the previous fiscal year was Rs 61 crore.
Sagar Cements galloped 15% on the BSE. The Board at its meeting held on November 28, 2016 inter-alia, fixed an issue price of Rs 800 per equity share (which includes a premium of Rs 790 per share) for the 6,11,986 equity shares of Rs 10 each of the company being issued for cash on a preferential basis, subject to receipt of further necessary approvals as may be required.
Amtek Auto rallied 5.5%. The comnpany has informed BSE that a meeting of the Board of Directors of the Company will be held on November 30, to consider the proposal of infusion of fresh equity by the new investors and restructuring of the Company as proposed by investors. The stock is currently trading at Rs 41.2, up by Rs 2.6 or 6.74% from its previous closing of Rs 38.6 on the BSE.
The Indian rupee was trading lower 22 paise at 68.67 per US dollar.
Out of 1,390 stocks traded on the NSE, 465 declined and 874 advanced today.
Top 5 Nifty Gainers: HDFC (2.82%), Maruti Suzuki (2.43%), M&M (2.33%), Coal India (2.07%) and GAIL (2.05%).
Top 5 Nifty Losers: Sun Pharma (-1.15%), Lupin Ltd. (-0.58%), Cipla (-0.39%), NTPC (-0.37%) and Infosys Ltd. (-0.20%)
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