Home Markets Indian indices end higher, marking a positive start to the week; Nifty up by 0.52%; Sensex gains over 190 points

Indian indices end higher, marking a positive start to the week; Nifty up by 0.52%; Sensex gains over 190 points

by Aamar Deo Singh (Head Advisory, Angel Broking Ltd)
Nov 23, 2020
Indian indices end higher, marking a positive start to the week; Nifty up by 0.52%; Sensex gains over 190 points, Market, KonexioNetwork.com

Mumbai- : Benchmark indices ended higher after starting the week on a positive note, with gains in IT and energy stocks. Major financial stocks declined after fresh recommendations by the RBI.

The Nifty rose by 0.52% or 67.40 points and closed above the 12,000 mark at 12,926.45, while BSE Sensex went up by 0.44% or 194.90 points and closed at 44,077.15. Around 1636 shares advanced, 1133 shares declined, and 178 shares had no changes.

ONGC (6.63%), IndusInd Bank (3.79%), GAIL (3.54%), Dr Reddy’s (3.51%), and Infosys (3.19%), were among top Nifty gainers, while HDFC (3.50%), ICICI Bank (2.49%), Axis Bank (1.79%), SBI Life (1.75%), and Titan (1.73%), were among the top Nifty losers.

On the sectoral end, all the sectoral indices except for banks ended in the green, led by IT and Energy stocks. BSE Midcap rose by 1.25% and BSE Smallcap went up by 1.37%.

SREI Infrastructure Finance Limited

Stocks of SREI Infrastructure declined by 12.69% and traded at Rs.5.85 after the company reported of a special audit being conducted by RBI of the company and its subsidiaries.

Strides Pharma Science Ltd.

Strides Pharma received approval from the U.S. for its generic version of Prednisone tablets which are prescribed for a variety of ailments including allergies, arthritis, etc. Despite the USFDA approval, the stocks of the company declined by 1.89% and traded at Rs.697.

MindTree Limited

The stocks of the company surged by 3.38% and traded at Rs.1403.30 after the company announced a five-year deal with the Nordex Group- a leading wind turbine manufacturer. 

Reliance Industries Limited

The Competition Commission of India approved the Rs.24,713 crore Future Group Reliance Retail deal, after which the stocks of the company surged by 2.93% and traded at Rs.1,955.20. On the other hand, stocks of Future Retail Ltd. went up by 9.99% and traded at Rs.79.25.

IIFL Finance Ltd.

Stocks of IIFL Finance Ltd. went up by 1.08% and traded at Rs.116.90 after the company approved the buy-back of its fully paid-up equity shares, having a face value from the members of the company, which was not above Rs.54 per equity share. 

CG Power and Industrial Solutions Ltd.

Stocks of CG power and Industrial Solutions went up by 4.96%, trading at Rs.36.00, following the company’s agreement to a one-time loan restructuring, with the objective of paving the way for the Chennai-based Murugappa Group take over, after the equipment maker was hit by a scam.

Indian Rupee

Indian rupee erased early losses and ended marginally higher at Rs.74.10 against the US Dollar amid positive domestic equity market cues.

Mixed Global Market Cues

Global market indices projected a mixed trend in today’s session amid rising number of COVID-19 cases, worries over economic lockdown, and uncertainty over U.S. stimulus aid. Nasdaq and Nikkei 225 went down by 0.42%, while FTSE MIB, FTSE 100, and Hang Seng rose by 0.90%, 0.31%, and 0.13% respectively.