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Indian equity benchmarks closed at record highs for the third consecutive trading session.
The S&P BSE Sensex rose 0.28 percent to end at 41,673.92 and the NSE Nifty 50 rose 0.31 percent to to close at 12,259.70. The broader markets represented by the NSE Nifty 500 Index rose 0.28 percent.
The market breadth was tilted in favour of buyers. About 915 stocks advanced and 842 shares declined on National Stock Exchange.
Six out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Auto Index’s 1.03 percent gain. On the flipside, the NSE Nifty Financial Services Index was the top sectoral loser, down 0.32 percent.
Essel Propack
KRBL
Firstsource Solutions
Texmaco Rail & Engineering
Avanti Feeds
Panacea Biotec
Trident
Shares of Yes Bank pared losses and rose as much as 10 percent to Rs 51.40. The stock had declined 3.9 percent earlier.
Of the shares traded, 54 percent were at the ask price and 43 percent were at the bid, according to Bloomberg data.
Shares of Texmaco Rail and Engineering rose as much as 13.2 percent to Rs 35.15.
The National Company Law Appellate Tribunal has given a stay order on Kolkata’s National Company Law Tribunal order.
On Dec. 16, The operational creditor Veekay General has filed an application under insolvency proceedings for an alleged operational debt of Rs 63 lakh, which has been admitted by NCLT Kolkata. The company had filed its appeal against the order before NCLAT.
Trading volume was five times its 20-day average, Bloomberg data showed.
Shares of Orient Electric fell as much as 5.7 percent to Rs 184.05, halting a two-day gaining streak.
The stock advanced 21 percent in the past 12 months compared to a 14 percent gain in the Sensex.
Shares of Essel Propack rose as much as 16 percent, the most since Jan. 28, 2019, to hit an all-time high at Rs 175.45.
Trading volume was more than seven times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.
The stock traded 26 times its estimated earnings per share for the coming year, according to Bloomberg data. Of the shares traded on NSE, 62 percent were at the ask price and 24 percent were at the bid.
Indian equity benchmarks pared opening losses.
The S&P BSE Sensex rose as much as 0.23 percent to hit a record high at 41,654 and the NSE Nifty 50 rose as much as 0.23 percent to 12,249.55. The broader markets represented by the NSE Nifty 500 Index rose 0.22 percent.
Nifty’s 12,200 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, fell 56.24 percent to Rs 18.95. Over 11.55 lakh shares were added to the open interest which stood at over 29.79 lakh shares.
Shares of Avanti Feeds extended gains for the sixth consecutive trading session. The stock rose as much as 4.5 percent to Rs 573.45, their highest since June 2018.
The stock advanced 16 percent in six trading session. The stock advanced 47.3 percent so far this year compared to a 16.4 percent gain in the Sensex.
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Shares of NMDC extended gains for the fifth consecutive trading session. The stock rose as much as 2.7 percent to Rs 123.20.
The company has received approval for modified mining plan of Kumaraswamy Iron Mines from 7 million tonne per annum to 10 MTPA from India Bureau of Mines. Effective Date for Approval is till 2022. NMDC operates these mines at its facility in Karnataka.
Trading volume was more than three times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.
Shares of Sintex Industries fell for the eighth consecutive trading session. The stock fell as much as 4 percent to Rs 1.20.
Lenders to Sintex Industries Ltd. rejected a debt restructuring plan by the company and intend to push it into bankruptcy, Bloomberg reported quoting people familiar with the matter.
“According to the resolution proposal, the Indian textile company will be able to service only 30 percent of its Rs 6,300 crore ($888 million) of bank loans. The plan also included infusion of about Rs 200 crore into Sintex by two other yarn producers,” people asking not to be identified told Bloomberg.
The scrip declined 25 percent in eight trading sessions, according to Bloomberg data.
Indian equity benchmarks fluctuated between gains and losses after closing at all-time highs on Wednesday.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,506 and 12,205 respectively. The broader markets represented by the NSE Nifty 500 Index fell 0.12 percent.
The market breadth was tilted in favour of sellers. About 791 stocks declined and 614 shares advanced on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Realty Index’s 0.4 percent fall. On the flipside, the NSE Nifty FMCG Index was the top sectoral performer, up 0.13 percent.
The Indian rupee opened little changed against the U.S. dollar. The home currency depreciated marginally by 0.02 percent to 70.98 against the greenback.
Indian equity benchmarks are set for a muted start.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,561 and 12,222 during the pre-market trade.
Lenders to Sintex Industries Ltd. rejected a debt restructuring plan by the company and intend to push it into bankruptcy, Bloomberg reported quoting people familiar with the matter.
“According to the resolution proposal, the Indian textile company will be able to service only 30 percent of its Rs 6,300 crore ($888 million) of bank loans. The plan also included infusion of about Rs 200 crore into Sintex by two other yarn producers,” people asking not to be identified told Bloomberg.
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