Mumbai- : Benchmark indices closed in the green for the third consecutive day with auto and financial stocks being the major supporters.
By the end of today’s trading session, Nifty went up by 0.50% or 64.05 points and closed above the 12,900 mark at 12,938.25, while S&P BSE Sensex rose by 0.52% or 227.34 points and closed at 44,180.05.
M&M (10.36%), Tata Motors (9.49%), Bajaj Finserv (6.46%), L&T (5.82%), and IndusInd Bank (5.91%) were among the top Nifty gainers. On the other hand, BPCL (2.93%), HUL (1.96%), Dr. Reddy’s (1.68%), Hero MotoCorp (1.40%), and Bharti Airtel (1.39%) were among the top Nifty losers.
On the sectoral end, Nifty auto rose by 3% while bank and financial services indices gained over 1.9% and 1.3% respectively. BSE Midcap rose by 1.26% while BSE Smallcap went up by 0.90%.
IIFL Finance Ltd.
Stocks of IIFL Finance Limited surged by 5.51%. The scrip traded at Rs. 118.75 after the Non-Banking Financial Company reported it was considering a proposal for buyback of shares in its next meet.
Mahindra & Mahindra Limited
The company announced that it would manufacture the new K2 series tractor in Telangana. K2 will bring an incremental investment of Rs.100 crore into M&M’s Zaheerabad facility and will double the employment in the plant. The stocks of the company surged by 10.36% and traded at Rs. 703.25.
Wonderla Holidays Ltd.
The company announced the opening of the water rides in the theme park for the public from November 20, 2020. The stocks of the company, as a result, went up by 8.92% and traded at Rs. 194.20.
Larsen & Toubro Limited
L&T bagged an order to supply 46 units of Komatsu mining equipment from Tata Steel which happens to be the firm's biggest ever construction and mining business deal. The stocks of the company went up by 5.82% and traded at Rs. 1,143.85.
Lakshmi Vilas Bank Limited
The bank was put under moratorium by the Finance Ministry from November’17 2020 till December 16, 2020. As a result, the stocks of the company tripped down by 19.94% and traded at Rs. 12.45 in today’s trading session.
Sadbhav Engineering Limited
The company recently received a Letter of Acceptance (LOA) from NHAI for the construction of 2 EPC roads with a contract value of Rs. 1572.30 crore. The stocks of the company rose by 2.34% and traded at Rs. 50.35.
Indian Rupee
Indian rupee ended marginally lower at Rs. 74.46 against the U.S. Dollar amid a flat trading session in the domestic equity market.
Mixed Global Market Cues
Global markets projected mixed cues owing to the alarming increase in the COVID-19 cases across the globe. The rising number of cases there is a threat of a fresh round of economic lockdown and weak retail sales. NASDAQ went down by 0.21%, FTSE 100 declined by 0.13%, and Nikkei 225 went down by 1.10%. In contrast, FTSE MIB and Hang Seng rose by 0.66% and 0.49% respectively.