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Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead

The S&P BSE Sensex closed 60.8 points or 0.08%, higher at 73,806.15, while the NSE Nifty 50 advanced 39.65 points or 0.18%, to end at 22,378.

<div class="paragraphs"><p>NSE (Source: Vishal Patel/NDTV Profit)</p></div>
NSE (Source: Vishal Patel/NDTV Profit)
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Sensex, Nifty Pare Gains After Hitting Record High: Closing Bell 

The benchmark indices extended their rally to end at fresh closing levels on the special training session on Saturday. Both Nifty and Sensex hit new highs in the first of the two sessions held during the day.

The S&P BSE Sensex closed 60.8 points or 0.08%, higher at 73,806.15, while the NSE Nifty 50 advanced 39.65 points or 0.18%, to end at 22,378.

During the day, the Sensex rose as much as 0.34% to 73,994.7, while the Nifty declined 0.36% to 22,419.55.

On daily and intraday charts, the index has formed double bottom reversal formation and on weekly charts, it has formed bullish candle, which supports further uptrend from the current levels, according to Shrikant Chouhan, Head Equity Research, Kotak Securities.

"For the trend-following traders now, 22,200 (Nifty 50) would act as a key support zone. Above the same, the market could rally till 22,500-22,575 (Nifty 50)," Chouhan said.

Stock markets all around the world will remain shut on Saturday, while the Indian market opened as the national bourses conducted a special trading session for an easy switch over to a disaster recovery site.

Amid a renewed rally in technology companies, the U.S. stocks ended the week on a high note with the S&P 500 topping 5,100 — hitting its 15th record this year. On Friday, The S&P 500 index and Nasdaq 100 rose by 0.80% and 1.14%, respectively.

Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead
Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead
Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead

Shares of Tata Steel Ltd., ITC Ltd., Larsen and Toubro Ltd., Tata Motors Ltd., and State Bank of India advanced the most on the Nifty 50.

Meanwhile, ICICI Bank Ltd., Reliance Industries Ltd., Mahindra & Mahindra Ltd., Axis Bank., and Maruti Suzuki India Ltd. weighed on the index.

Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead

On NSE, all the sectors advanced with Nifty Media and Nifty Metal contributing the most. Nifty Bank ended marginally higher by 0.02%.

Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead

The broader markets outperformed the benchmark indices, as the BSE MidCap was 0.67% higher and the SmallCap ended 0.70% higher.

On the BSE, 19 out of the 20 sectors ended higher, with PSU Metal and Consumer Durables gaining the most by 1.44% and 0.95%, respectively. S&P BSE Bankex fell by 0.04% on Saturday.

The market breadth was skewed in favour of the buyers as 2,466 stocks rose, 965 fell and 126 remained unchanged on the BSE.

Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead

Here Are The Key Market Levels As Of 12:15 P.M 

Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead

HG Infra Gets LoA Worth Rs 447.1 Crore

  • H.G. Infra Engineering Ltd. received LoA from South Central Railway for a construction project worth Rs 447.1 crore.

Source: Exchange filing


Torrent Power Hits Upper Circuit On Rs 2,700 Crore Order Win

Shares of Torrent Power Ltd. hit a 5% upper circuit after the company bagged an order worth Rs 2,700 crore from Railway Energy Management Co. to set up a renewable energy power plant.

The energy and power company received a letter of award from REMC for setting up a grid-connected renewable energy power plant project, with or without storage, according to an exchange filing on Friday. The power plant will supply 100 MW of round-the-clock power in Maharashtra.

The Rs 2,700 crore project will be commissioned within 24 months after the signing of the power purchase agreement. It will have a contract period of 25 years after the agreement is signed. The tariff is at Rs 4.25 per Kwh, the company said.

Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead

Torrent Power stock rose as much as 5% during the day to hit an upper circuit of Rs 1,172.05 apiece on the NSE. It was trading 3.92% higher at Rs 1160 apiece, compared to a 0.25% advance in the benchmark Nifty 50 as of 10:00 a.m.

It has risen 124.98% in the last 12 months. The total traded volume so far in the day stood at 0.4times its 30-day average. The relative strength index was at 57.6.

Three out of the 11 analysts tracking Torrent Power have a 'buy' rating on the stock, as many as two recommend a 'hold' and six suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential decline of 16.3%.


Broader Markets Outperform Larger Peers

The broader markets outperformed larger peers; the S&P BSE MidCap Index was up 0.64%, and S&P BSE SmallCap Index was 0.65% higher.

Only one out of 20 sectors compiled by BSE advanced, with S&P Consumer Durables and S&P BSE Capital Goods advancing the most.

On NSE, all sectors were trading higher with Nifty Media and Nifty Metal advancing the most.

The market breadth was skewed in the favour of the buyers. About 2363 stocks advacned, 948 fell, while 131 remained unchanged on the BSE.

Sensex, Nifty End At Fresh Record Closing In Special Trading Sessions As Tata Steel, L&T Lead




























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