Home Markets Indian Indices End Higher; Nifty ends near 14,200, Sensex gains over 260 points

Indian Indices End Higher; Nifty ends near 14,200, Sensex gains over 260 points

by Aamar Deo Singh (Head Advisory, Angel Broking Ltd)
Jan 05, 2021
Indian Indices End Higher; Nifty ends near 14,200, Sensex gains over 260 points, Market, KonexioNetwork.com

Benchmark indices erased all the intraday losses and ended at record high levels with gains led by IT and private banks.

 
Nifty went up by 0.47% or 66.60 points and closed near 14,200 at 14,199.50, while S&P BSE Sensex ended higher by 0.54% or 260.98 points at 48,437.78. Around 1,740 shares advanced and 1,268 shares declined, while 159 shares remained unchanged.

Axis Bank (6.32%), HDFC (2.96%), HDFC Life (2.54%), Wipro (2.30%), and IndusInd Bank (2.67%) were among the top Nifty gainers. In contrast, ONGC (1.96%), JSW Steel (1.87%), Bajaj Finance (1.60%), Tata Steel (1.73%), and Hindalco (1.77%) were among the top Nifty losers.

Nifty Bank and IT indices surged by 1.5% to 2.5% while BSE Midcap and BSE Smallcap rose by 1.38% and 0.71%, respectively. Selling was seen across the metal and energy indices, while

Olectra Greentech Ltd.

Stocks of Olectra Greentech rose by 0.41% and traded at Rs. 133.20 after the company became the L-1 (Least Quoted) bidder for another 350 Electric Buses from one of the State Government Undertakings.

Graphite India Ltd.

Stocks of Graphite India tripped by 1.22% and traded at Rs. 312.55 after the company received a refund of approximately Rs. 81.14 crore from Damodar Valley Corporation. 

Gravita India Ltd.

Stocks of Gravita India traded higher by 1.81% at Rs. 84.50 after the company signed an annual agreement with Luminous Power Technologies Private Limited for supplying 12,000 MT of refined lead and lead alloys.

MSTC Ltd.

MSTC’s stocks tripped by 2.37% and traded at Rs. 171.00 after the company signed an MoU with the Department of Mines and Geology, Government of Andhra Pradesh. The MoU was signed for the selection of agencies to carry out sand operations in Andhra Pradesh.

National Fertilizers Ltd.

National Fertilizers’ stocks surged by 6.60% and traded at Rs. 40.40 after the company achieved its highest-ever production in the third quarter of the FY21.

Tata Power Company Limited

Stocks of Tata Power went up by 2.15% and traded at Rs.80.95 after the company announced a partnership with SIDBI. The partnership between Tata Power and SIDBI offers easy and affordable financing schemes for MSME customers operating in the rooftop solar segment.

IndusInd Bank

Stocks of IndusInd Bank rose by 2.67% and traded at Rs.921.80 after the private sector bank shared its quarter three updates. Deposits of the bank rose by 11% while Net Advances went up by 0.1% YoY. The bank's retail and small deposits were up by 13.6% and stood at Rs. 85,914 crore QoQ.

Indian Rupee

Indian rupee ended lower by 15 paise at Rs. 73.17 against the U.S. Dollar amid buying seen in the domestic equity markets.

Mixed Global Market Cues

Global markets traded mixed due to the increased worries over the rising COVID-19 cases across the globe following the new year celebrations. FTSE MIB went down by 0.11% and Nikkei 225 went down by 0.37%, while FTSE 100 rose by 0.32% and Hang Seng went up by 0.64%.