Stock Market Today: Sensex, Nifty End Topsy-Turvy-Trade With Minor Losses As HDFC Bank, RIL Drag
Nifty and Sensex end lower on Monday. Sensex ends 112.16 points lower. Intraday, both Nifty and Sensex had fallen nearly 2%.
KEY HIGHLIGHTS
US Futures Rise
At 3:50 p.m., futures contract of Dow Jones was up 77% to 43,966.00, that of S&P 500 was also 16.50% up at 5,979.75, and Nasdaq 100 futures contract was 83.5% up at 21,003.00.
Rupee Vs Dollar Today: Rupee Ends Stronger Against Dollar
Rupee strengthened by 15 paise to close at 87.36 against the US Dollar. It closed at 87.51 a dollar on Friday.
Source: Bloomberg
Stock Market At Closing Sensex, Nifty End Topsy-Turvy-Trade With Minor Losses
Nifty and Sensex end lower on Monday. Sensex ends 112.16 points lower. Intraday, both Nifty and Sensex had fallen nearly 2%.
Nifty ends 0.02% or 5,40 points down at 22119.3.
Sensex ends 0.15% or 112.16 points lower at 73,085.9.
Broader indices also closed lower. Nifty Midcap150 ended in green snapping 5 sessions of losses. Nifty Midcap 100 ended 0.16% lower.
Nifty Smallcap 250 closed 0.64% lower. Nifty Smallcap250 ended in red for 6 sessions of losses.
Six out of the 12 sectors ended in green, with Nifty Realty, Metal and IT leading gains. Nifty Media, Oil & Gas and Bank dragged the most.
BEL Ltd., Grasim Ltd., Eicher Ltd., JSW Steel Ltd., and BPCL Ltd., emerged as the top gainers for the day.
On the other hand, Bajaj Auto Ltd., Coal India and RIL Ltd., and HDFC Bank were the worst performers of the Nifty 50 index.
Stock Market Live: IRCTC Shares Rise After Navratna Status
The Government has approved the upgradation of Indian Railway Catering and Tourism Corporation to Navratna CPSE, making it the 25th Navratna among CPSEs. IRCTC is a Ministry of Railways CPSE with an annual turnover of Rs 4,270.18 crore, profit after tax of Rs 1,111.26 crore. The net worth of Rs 3,229.97 crore for financial year 2023-24.
The Government has also approved the upgradation of Indian Railway Finance Corporation to Navratna CPSE, making it the 26th Navratna among CPSEs. IRFC is a Ministry of Railways CPSE with an annual turnover of Rs 26,644 crore, profit after tax of Rs 6,412 crore and a net worth of Rs 49,178 crore for financial year 2023-24.
The shares of IRCTC were trading 1.02% higher at Rs 677.3 apiece against a 0.10% decline in the Nifty 50.
Stock Market Live: What Jefferies Says On Siemens
Maintain Buy, target price of Rs 7,219 (+56% upside).
Co good play on power transmission which has the highest capex growth.
Power capex to rise 2.5x to USD300 bn+ over FY24-30E vs FY17-23.
Expect fixed costs as a % of sales declining to 10-11%.
Operating leverage to boost EBITDA margin to 16.5-17% vs 13.6% in FY24.
Believes demerger of Energy division to unlock further value.
Energy demerger could potentially add 8-21% to CMP.
