Stock Market Today: Sensex, Nifty Rebound After Two-Day Drop As Financial Services Stocks Lead
The Nifty rose 151.25 points or 0.70% to close at 21,668.60 points and the Sensex ended at 71,889.05, up 0.75% or 532.45 points.
KEY HIGHLIGHTS
Abbott India Gets GST penalty Order Worth Rs 1.69 Crore
GMR Airport Has 1.96 Crore Shares Change Hands
Welspun Corp Gets Orders For Line Pipes In India And USA
Balaji Amines' Project Gets Mega project Status By Maharashtra Govt
Sensex, Nifty Extend Gains As Bajaj Finance, Axis Bank, NTPC Lead: Midday Market Update
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.22% on Thursday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
-The local currency strengthened 6 paise to close at 83.23 against the U.S dollar on Thursday.
-It closed at 83.29 on Wednesday.
Source: Bloomberg
Sensex, Nifty Rebound After Two-Day Drop As Financial Services Stocks Lead: Closing Bell
Gains in the shares of financial services companies pulled the indices to end higher after two consecutive sessions of fall.
The Nifty rose 151.25 points or 0.70% to close at 21,668.60 points and the Sensex ended at 71,889.05, up 0.75% or 532.45 points.
"Technically, after a short-term correction, the index took the support near 21500/71300 and bounce back sharply," said Shrikant Chouhan, headof equity research at Kotak Securities. "We are of the view that, the intraday texture of the market is bullish but the sentiment could change if the index slip below 21550/71500."
He added, "For the bulls now, 21550/ 71500 would act as a trend decider level, above the same the market could continue rally till 21700 -21750/72100-72350. On the flip side, below 21550/71500 the selling pressure is likely to accelerate. Below which, it could retest the level of 21500-21425/71300-71100."
Shares of HDFC Bank Ltd., Bajaj Finance Ltd., Infosys Ltd., Axis Bank Ltd., and NTPC Ltd., contributed the most to the gains.
Meanwhile, those of Tata Consultancy Services Ltd., HCL Technologies Ltd., Hindustan Unilever Ltd., Mahindra & Mahindra Ltd., and UltraTech Cement Ltd. capped the upside.
All sectoral indices advanced with Nifty Realty jumping by 6.69%, significantly higher than the other indices. On the other hand, Nifty Auto and Nifty Metal closed marginally higher.
The broader markets outperformed benchmark indices. The S&P BSE Smallcap Index rose 1.08%, whereas S&P BSE MidCap Index was 1.53% higher. On BSE, 19 out of 20 sectors advanced, while one declined.
S&P BSE Realty rose 6.52% and was the top gainer among sectoral indices. S&P BSE Auto declined 0.04% and was the loser among sectoral indices.
The market breadth was skewed in favour of the buyers. About 2,568 stocks advanced, 1,262 declined, and 111 remained unchanged on the BSE.
DCM Shriram Signs MoU With Gujarat Govt; Stock Hits 52-Week High
- Signs MoU with Gujarat Govt to invest `12,000 cr by 2028
- Signs MoU for investment in manufacturing of chemical and petrochemicals products
Source: Exchange Filing
Abbott India Gets GST penalty Order Worth Rs 1.69 Crore
Gets order for GST penalty worth Rs 1.69 crore from Secunderabad GST Authority
Penalty levied for the period from July 2017 to March 2020
Source: Exchange Filing
