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Indian equity benchmarks extended record closing streak for the fourth straight trading session.
The S&P BSE Sensex rose 0.02 percent to end at 41,681.54 and the NSE Nifty 50 rose 0.1 percent to close at 12,271.80. The broader markets represented the NSE Nifty 500 rose 0.13 percent.
The market breadth, however, was tilted in favour of sellers. About 875 stocks advanced and 903 shares declined on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 2.3 percent gain. On the flipside, the NSE Nifty Auto Index was the top sectoral loser, down, 0.39 percent.
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Embassy Office Parks REIT picked Kotak Mahindra Bank Ltd. and Morgan Stanley to help raise funds for a potential acquisition of commercial property assets in India, Bloomberg reported quoting people familiar with the matter.
“The trust selected the banks as advisers, said the people, There’s no final decision on the size and structure of the financing, which could be a combination of debt and issuance of new units,” people who asked who asked not to be identified as the discussions are private told Bloomberg.
Shares of Linde India fell as much as 4.5 percent, the most since Nov. 21, 2019, to Rs 654.
The stock declined 2.7 percent in the past 12 months compared to a 15 percent advance in the Sensex, according to Bloomberg data.
Shares of Dish TV India rose as much as 11.4 percent, the most since Dec. 9, 2019, to Rs 14.65.
The stock rose 7 percent in the past five days and fell 14 percent in the past 30 days according to Bloomberg data. The scrip traded at 23 times its estimated earnings per share for the coming year, Bloomberg data showed.
Shares of Mahindra & Mahindra fluctuated between gains and losses to trade 0.46 percent lower at 532.95.
The company will re-designate Chairman Anand Mahindra as its non-executive chairman from April, as part of a top-level changes announced under its succession plan. Managing Director Pawan Goenka will take on the role of chief executive officer from April 1 till the end of his current term on Nov. 11, 2020, according to an exchange filing. His term has been extended till April 1, 2021.
The stock traded at 13 times its estimated earnings per share for the coming year, Bloomberg data showed.
Shares of Yes Bank extended rally for the second consecutive trading session. The stock rose as much as 7.2 percent to Rs 53.50.
The scrip advanced 13 percent in two trading sessions, closing its best two-day rally since Nov. 1.
Of the shares traded, 53 percent were at the ask price and 42 percent were at the bid, according to Bloomberg data. The stock declined 72 percent in the past 12 months compared to a 15 percent rally in the Sensex.
Stocks in Europe ticked higher while Asian shares slipped along with U.S. index futures as investors tread water in the countdown to the holiday season.
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Source: Bloomberg
Indian equity benchmarks erased gains to trade little changed.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,674 and 12,264.50 respectively. The broader markets represented by the NSE Nifty 500 Index rose 0.1 percent.
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Shares of Ratnamani Metals & Tubes rose as much as 0.5 percent to Rs 1,010.
The company bagged an order of Rs 1.43 crore for CS pipes supply. It also won an export order worth $1.24 billion, according to its stock exchange filings.
Nifty’s 12,300 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire today, rose 6.08 percent to Rs 50.60. Over 10.61 lakh shares were added to the open interest which stood at over 31.57 lakh shares.
Indian equity benchmarks regained momentum to trade at record highs.
The S&P BSE Sensex rose as much as 0.3 percent to 41,809 and the NSE Nifty 50 rose as much as 0.28 percent to 12,293.90.
The market breadth was tilted in favour of buyers. About 947 stocks advanced and 522 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 2.23 percent advance. On the flipside, the NSE Nifty FMCG Index was the only sectoral loser, down 0.17 percent.
Shares of Bharat Heavy Electricals Ltd. extended declines for the third consecutive trading session. The stock fell as much as 2.8 percent to Rs 43.20.
That comes after brokerage firm Morgan Stanley cut its price target to Rs 37 from Rs 46.
Here’s what the research firm had to say:
Shares of Crisil extended gains for the third consecutive trading session. The stock rose as much as 1.1 percent to 1,810, the highest since Aug. 31, 2018.
The company plans to buy Greenwich Associates for $40 million. The acquisition is expected to be completed by January- March quarte, according to its stock exchange notification.
The Relative Strength Index was above 70, indicating that the stock may be overbought. The scrip traded at 37 times its estimated earnings per share for the coming year, according to Bloomberg data.
Shares of Kolte-Patil Developers rose as much as 3 percent to 260.
Pabrai Group increased stake in the company to 9.23 percent from 7.09 percent earlier.
Trading volume was almost 13 times its 20-day average, Bloomberg data showed. The stock advanced 18 percent in the past five days and returned 8 percent in the past 30 days.
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Shares of Bajaj Finance rose as much as 0.5 percent to Rs 4,114.
The company acquired 24 lakh shares or 10 percent stake in Karvy Data Management Services pursuant invocation of pledged shares of the company for recovery of outstanding dues of Karvy Stock Broking.
Trading volume was 1,164 times its 20-day average, Bloomberg data showed. Of the shares traded, 45 percent were at the ask price and 30 percent were at the bid.
Indian equity benchmarks fluctuated between gains and losses in the opening trade after closing at record highs for two consecutive trading session.
The S&P BSE Sensex rose 0.12 percent to 41,720 and the NSE Nifty 50 traded little changed at 12,267. The broader markets represented by the NSE Nifty 500 Index rose 0.1 percent.
The market breadth was tilted in favour of buyers. About 790 stocks advanced and 593 shares declined on National Stock Exchange.
Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 1.16 percent advance. On the flipside, the NSE Nifty FMCG Index was the top sectoral loser, down 0.3 percent.
Indian equity benchmarks are set to open higher.
The S&P BSE Sensex rose 0.17 percent to 41,746.20 during the pre-market trade and the NSE Nifty 50 rose 0.06 percent to 12,266.45.
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