Home Markets Indian indices end with strong gains; Nifty ends above 14,800, Sensex surges 520 points

Indian indices end with strong gains; Nifty ends above 14,800, Sensex surges 520 points

by Aamar Deo Singh (Head Advisory, Angel Broking Ltd)
Apr 01, 2021
Indian indices end with strong gains; Nifty ends above 14,800, Sensex surges 520 points, Market, KonexioNetwork.com

Benchmark Indian equity indices ended in the green with strong gains led by a surge in metals, banks, and auto stocks.

Nifty gained 1.20% or 176.65 points and closed above 14,800 at 14,867.35, while S&P BSE Sensex surged 1.05% or 520.68 points and closed at 50,029.83. Around 2120 shares advanced, 727 shares declined, while 143 shares remained unchanged.

JSW Steel (7.91%), Hindalco (6.56%), Tata Steel (5.80%), Adani Ports (4.43%), and IndusInd Bank (4.35%) were among the top Nifty gainers. On the other hand, HUL (1.34%), Nestle (0.67%), HDFC Life (0.55%), Divi’s Lab (0.35%), and TCS (0.34%) were among top Nifty losers.

On the sectoral front, Nifty metals gained 5%, while Nifty auto, Nifty banking, and financial services ended 1 to 2% higher. BSE Midcap and BSE Smallcap surged 1.66% and 2.05%, respectively.

Ashok Leyland Ltd.

Ashok Leyland’s stocks surged 3.79% and traded at Rs.117.80 after the firm reported a total sale of 17,231 units in March. The firm has reported a total sale of 2,126 units YoY and 13,703 units MoM.

VST Tillers Tractors Limited

The firm’s stocks surged 2.07% and traded at Rs.1,830.15 after the firm reported a sale of 3056 units of Power Tillers and 731 units of Tractors in March 2021 corresponding to 1585 units and 390 units respectively for the same period in 2020.

Steel Strip Wheels Ltd.

Steel Strip Wheels’ shares gained 3.13% and traded at Rs.720.00 after the firm achieved its highest ever wheel rim sales of 16.73 lakh in March’21 versus 7.88 lakh in March’20. This represented a growth of 112.44% YoY.

APL Apollo Tubes Ltd.

The firm reported a sales volume of 435,348 tonnes in the Q4 of FY21 compared to a sale of 400,616 tonnes in Q of FY20. The firm’s sales were up despite Covid-19 disruption. However, the firm’s stocks tripped 5.34% and traded at Rs.1,326.00.

Reliance Infrastructure Ltd.

Reliance Infra sold Reliance center at Santacruz in Mumbai to Yes Bank for Rs.1200 crore for repaying the company’s debt to Yes Bank. Reliance Infra’s stocks gained 9.26% and traded at Rs.38.35 following the deal.

JSW Steel Limited

SW Steel’s stocks rose 7.91% and traded at Rs.505.50 after the firm announced the commencement of production at Dolvi Works Facility.

Indian Rupee

Indian rupee market remained closed today on account of annual bank closing. Indian rupee ended at Rs.73.11 against the US Dollar amid positive domestic equity markets.

Global Market Cues

World stocks ended higher as US economic strength counterbalanced the return of COVID lockdown measures in some parts of Europe and elsewhere. Nasdaq rose 1.54% yesterday, while FTSE 100 rose by 0.51%, FTSE MIB gained 0.23%, Nikkei 225 gained 0.72%, and Hang Seng rose by 1.98%.