Stock Market Today: Nifty, Sensex Rebound On Gains In RIL, HDFC Bank, Axis Bank
Find all updates on Indian stock markets here on March 27.
KEY HIGHLIGHTS
Rupee Weakens Against U.S. Dollar
The local currency weakened by 9 paise to close at 83.38 against the U.S. Dollar.
It closed at 83.29 a dollar on Tuesday.
Source: Bloomberg
Nifty, Sensex Rebound On Gains In RIL, HDFC Bank, Axis Bank: Market Wrap
India's benchmark indices recouped losses to continue their rally, tracking recovery in heavyweight in Reliance Industries Ltd., HDFC Bank Ltd., and Axis Bank Ltd.
The NSE Nifty 50 settled 143.25 points or 0.65% higher at 22,147.95, and the S&P BSE Sensex ended 526.02 points or 0.73% up at 72,996.31.
Intraday, the NSE Nifty 50 scaled a high of 22,193.60, and the S&P BSE Sensex rose to a high 73,138.73.
"We are of the view that, the market texture is bullish but in the near future 20 day Simple Moving Day Average or 22,170/73,100 would act as a key resistance for the bulls. Above which, the market could move up till 22,300-22,350/73,400-73,500. On the flip side, below 22080/72800 the sentiment could change. Below which the market could retest the level of 50 day SMA or 21,950-21,900/72,500-72,400," Shrikant Chouhan, head equity research, Kotak Securities.
Reliance Industries Ltd., HDFC Bank Ltd., Maruti Suzuki India Ltd., Larsen & Toubro Ltd. and Bajaj Finance Ltd. assisted the upward movement of the index.
Tata Motors Ltd., HCL Technologies Ltd., State Bank of India, Infosys Ltd., and Tata Consultancy Services Ltd. capped gains in the index.
On NSE, six sectors advanced, and six sectors declined. The NSE Nifty Realty was the top performing sectors, while the NSE Nifty PSU Bank fell the most.
Broader markets ended on a mixed note. The S&P BSE Midcap ended flat, and the S&P BSE Smallcap ended 0.70% higher.
On BSE, six sectors declined, and 14 sectors advanced. The S&P BSE TECK index fell the most among sectoral indices. The S&P BSE Services was the best performing sector.
Market breadth was skewed in favour of sellers. Around 2,308 stocks declined, around 1,531 stocks advanced, and 110 remained unchanged on BSE.
Chalet Hotels Opens QIP To Raise Funds
Chalet Hotels Ltd. has opened QIP for raising up to Rs 2,000 crore.
It sets floor price at Rs 780.76 per share.
Source: Exchange filing
Welspun's Unit To Invest Rs 2,355 Crore To In Telangana
Welspun Corp Ltd.'s unit to invest Rs 2,355 crore is to set up manufacturing units in Telangana, Odisha, Madhya Pradesh, J&K.
Investment for manufacturing plastic pipes and water storage with total capacity of 2 lakh metric ton.
Source: Exchange Filing
Vodafone Idea Launches Entertainment App
Vodafone Idea Ltd. launched new entertainment app with more than13+ OTT platforms, 400 TV channels.
New entertainment app priced at Rs 202 for prepaid users and Rs 199 for postpaid users.
Source: Press Release
