Nifty50 closed above 11800 today | Sensex above 40K

Nifty50 & Sensex today

Indian stock market opened in a positive note today. At close, Nifty50 gains 57.20 and closed at 11844.10 whereas Sensex gained 220.03 points and closed at 40,051.87.

Bank Nifty, the NSE banking index also gained 114.50 points day and closed at 29987.50. The Nifty midcap 100 index was up 0.64% and closed at 16583.45. In the smallcap space, Nifty smallcap 100 index also gained marginally 0.35% and closed at 5727.70.

Nifty50 Stocks today

The top five nifty50 gainers for today are GAIL, SBI, Grasim, TCS and ITC. Nifty50 losers for today are Bharti Infratel, Yes Bank, Maruti Suzuki, Britannia, and UPL. 

In the midcap space, the top gainers are Sun Pharm Adv, V-Guard Ind. and the top losers are Dish TV, Prestige Estate. The top gainers in smallcap space are, Syndicate Bank, ITI and the losers are Galaxy Surffacta, Dr Lal Path Lab.

Among the sectors, top gainers are Aviation, Electricals, Industrial Gas, Insurance, Telecom and IT. On the losing side, the top losers are Metal, Media, Hospitality, Diamonds, and jewelry. Infosys, SBI, Tata Motors, and Yes Bank are most active shares today.

Stocks in the news today

The global research house CLSA has upgraded the rating of BHEL and raised the target price from Rs 54 to Rs 67. The share price of BHEL has gained 9.48% and closed at Rs 58.90 per share.

InterGlobe Aviation the owner of Indigo, ordered 300 aircraft from Airbus, it is the largest aircraft orders ever from a single airline operator. The share price of InterGlobe Aviation gained 7.26%  and closed at Rs 1512.05 per share.

The board of directors of Central Bank of India has approved to raise the equity capital by issuing equity shares worth Rs 3353 crores. The share price of Central Bank has gained 15.83% on the news and closed at Rs 20.85 per share.

Citi has maintained a neutral rating on Hindustan Zinc but cut the target price from Rs 215 to Rs 210 per share. The share price of Hindustan Zinc declined 3.61% and closed at Rs 212.50 per share.

As per the report on moneycontrol.com, the government has constituted a panel to work out a bailout package for the telecom sector. The share price of Vodafone Idea fell 1.30% and Bharti Airtel gained  2.24% and closed at Rs 367.95 per share. 

Stocks in news due to Q2 earnings

Petronet LNG had reported a good set of numbers in the September ended quarter. The standalone net profit of September ended quarter rose by 96% at Rs1103.1 crores against Rs 560.3 crores in last quarter. The revenue of the company was up 8.7% in QoQ. The share price of Petronet LNG gained 2.27% and closed at Rs 285.50 per share.

Ramco Cements has reported an 11% increase in revenue at Rs 1324 crore compared to the same period last year. The company has reported 43% YoY growth in September quarter net profit. The share price of Ramco Cements has gained 3.61% and closed at Rs776.05 per share.

Indico Remedies had posted a consolidated profit at Rs 7.8 crore for Q2 quarter, against a loss of Rs 7.4 crore in the same period last year. Revenue grew by 21.1% YoY. The share price of Indico Remedies gained 3.54% and closed at Rs 159.45 per share

Graphite India reported a weak Q2 numbers, the net profit in FY20 fell 83.3% at Rs 185 crore while revenue declined 62.4 percent. The share price of Graphite India declined 3.43% and closed at Rs 282.70 per share.

Banking stocks in news today

United Bank of India reported a profit of Rs 124 crore in September end quarter compared to loss of Rs 883.2 crores in the same quarter last year.. It has also reported lower provision and 74.6% YoY growth in NII. Asset quality also improved on a sequential basis. The share price of United Bank gained 19.46% and closed at Rs 8.90  per share.

Tata Group stocks in news

Tata Metaliks, a pig iron manufacturer and supplier, had announced a weak set of Q2 numbers on Tuesday. Its net profit declined 51% to Rs 23.39 crores for the September end quarter compared to Rs 47.53 crore in the same quarter last year. The share price of Tata Metalik gained 0.48% and closed at Rs 579.25 per share 

Tata Chemical reported a consolidated net profit up 10.3% in September end quarter. The company had reported Rs 355 crore profit in Q2 compared to Rs 321.7 crore in the same quarter last year. Its revenue up 4.1% at Rs3084 crore against Rs 2961 crore YoY. The share price of Tata Chemical fell 1.34% and closed at Rs 614.30 per share.

Crude and Rupee Update

Brent crude futures price is trading lower today. Currently, it is trading at $ 61.19 per barrel, around 0.65% down from previous close. Indian rupee is trading almost flat, it is trading at 70.91 against the US dollar i.e almost 0.04% in depreciates.

Conclusions:

The world market is eagerly waiting for FED’s decision of rate cut and its commentary which is expected to come today evening. Accordingly, the Asian market will open tomorrow. Traders should follow the indication of SGX Nifty and other Asian markets tomorrow morning for market trend. We have analysis today news based Nifty50 and Sensex stocks, one can refer the analysis for trading in those stocks.

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Happy Investing !!

Editors Desk