The share price of Nifty closed above 12200 today and Sensex gained 350 pts

 

Share price of Nifty & Sensex today: It was a positive start for the Indian stock market today. The market sentiments were upbeat after Finance Minister Nirmala Sitharaman’s statement that the economy is not in trouble and green shoots are visible with the country moving towards $5 trillion economy.

On the global front, Asian markets were trading higher today. The global market sentiments also improved after the positive news about coronavirus flashed in the morning. As per the report, the number of new confirmed cases of coronavirus in China has dipped and the epidemic may be over by April.

 

The share price of Nifty today

In the end, the share price of Nifty gained 93.30 points or 0.78% and at 12201.20 while Sensex was up 349.76 points and at 41565.90. The Bank Nifty also gained 192.30 points and closed at 31492.90.

The share price of Nifty midcap and smallcap index closed in red today. The Nifty midcap 100 index was down by 36.85 points or 0.20% and closed at 18169.35. Whereas the smallcap 100 index declined 14.60 points or 0.24% and closed at 6176.20.

The top five gainers in Nifty50 stocks are HUL, Kotak Mahindra Bank, Nestle, ICICI Bank, and JSW Steel. The losers in the Nifty 50 stocks for the day are Yes Bank, Bharti Infratel, BPCL, SBI, and IndusInd Bank.

The gainers in the Nifty midcap share are Ipcaa Labs, NBCC and the losers are HEG, IDBI Bank. in the smallcap space, the gainers are MMTC Ltd, Lux Industries and the losers are Suzlon Energy, Wockhardt.

Among the sectoral front, the gainers for the day are FMCG, Industrial Gass, Retail, IT & Softwares, and Banking Finance. In the losing front, the sectors that closed in red today are Capital goods, Textiles, Real estate, Paper, and Insurance.

The last two days FIIs were the seller in the cash markets. For today’s FIIs and DIIs position you can check here after 6 pm.

 

Stocks in news

 

Stocks reacted positively after the Q3 result.

Jefferies has maintained a buy rating on Coal India after Q3 earnings. It has also cut the target price from Rs 265 per share to Rs 255 per share. The share price of Coal India gained 0.53% and closed at Rs 180.30 per share.

Ircon International has reported strong Q3 numbers and recommended the stock split of its equity shares. The share price of Ircon International has gained 3.69% and closed at Rs 462.35 per share.

Aster DM Healthcare has reported a 33.77% rise in consolidated net profit at Rs 151.43 crore for the December ended quarter. The share price of Aster DM Healthcare has gained 6.57%  and closed at Rs 177.60 per share.

The Consolidated net profit of Ipca Labs in Q3 grew by 24.1% at Rs 197.6 crore against Rs 159.2 crore on YoY. The company’s consolidated revenue went up 20.5% at Rs 1213 crore against Rs 1006 crore on YoY. The share price of Ipca Labs gained 6.01% and closed at Rs 1323.80 per share.

Hindalco Industries has reported a 21.9% fall in its standalone net profit in Q3 earnings at Rs 193 crore against Rs 247 crore in the same quarter last year. The share price of Hindalco closed flat at Rs 193.65 per share.

 

Stocks reacted negatively after the Q3 result

Hexaware company reported weak numbers in Q3. The share price of Hexaware declined 0.88% and closed at Rs 371.90 per share.

BHEL reported its consolidated Q3 net profit declined by 17.21% at Rs 162.67 crore as against Rs. 196.48 crores. Company’s sales down by 23% compared to last year. The share price of BHEL fell 5.71% and closed at Rs 36.35 per share.

Novartis India has reported a 39.93% decline in its net profit in Q3 at Rs 7.73 crores as compared to 12.87 crores in the last year the same period. The share price of Novelties India fell 2.33% in BSE and closed at Rs 644.80 per share.

Citi Union Bank has reported 8% rise in its Q3 net profit at Rs 192.4 crore as against Rs 178.1 crore. The Bank’s NII was up by 2.2% at Rs 427.3 crores against Rs 418.1 crore. The share price of City Union Bank fell 1.02% and closed at Rs 227.80 per share.

VIP Industries reported its consolidated net profit grew by 43.6% at Rs 34.2 crore against Rs 23.8 crore on YoY basis. It consolidated revenue went up by 0.5% at Rs 432.3 crore against Rs 430.1 crore on YoY. The share price of VIP Industries has fell 4.51% and closed at Rs 485.40 per share.

Info Edge has reported that its consolidated net loss at Rs 59.8 crore against loss of Rs 110 crore on QoQ basis. The company’s consolidated revenue grew by 1.7% at Rs 335 crore against Rs 329.5 crore on QoQ basis. The share price of Info Edge has declined 1.45% and closed at Rs 2955.75 per share.

 

Others stocks in news today

Alkem Laboratories reported that Company’s Baddi unit has received approval from the German health regulator to export dome drugs. The share price of Alkem Laboratories has gained 0.36% and closed at Rs 2644.60 per share.

Wockhardt in its board meeting has considered and approved the transfer of business to Dr. Reddy’s Laboratories on a slump sale basis as per moneycontrol.com. The share price of Wockhardt has declined by 6.57% and closed at Rs 367.45 per share.

 

Crude and Rupee updates:

Crude oil is trading higher today after the news of decline in Coronavirus confirmed cases in China. The Brent crude is trading at more than 2% from yesterday’s close. The Brent crude future is trading at $55.20 per barrel. The Indian rupee has depreciated today, it is trading Rs 71.33 against the US dollar.

 

Conclusions:

Indian Market has closed in a positive note for the second consecutive day in a row today. The ease of China’s coronavirus tension has supported the domestic market today and the share price of Nifty has regained 12200 levels. Tomorrow the market will first react to the weak macro data, Dec IIP -0.3 and January CPI data 7.59% which came after the market today.

Traders are advised to track the global cues for tomorrow’s trading.

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Happy Investing !!

 

Editor’s Desk