Market Updates: Top gainers of the day, Nifty above 12050, Sensex gained 193 pts

 

Market updates- top gainers of the day: Indian equity market bounced back after yesterday’s fall. The sentiment of the market remained upbeat after the Piyush Goyal’s statement that use of artificial intelligence (AI) in different forms can help to achieve the target of making India a $5 trillion economy in the coming years

On the global front, most the Asian markets were trading positive after the rebound in Wall Street overnight. It is in the hope that the geopolitical tension will not have a major impact on the global economy and Iran is under pressure by the world leader not to escalate the issue.

 

Nifty Stocks- Top gainers of the day

In the end, Nifty gained 59.90 points and at 12052.95 while Sensex was up by 192.84 points and closed at 40869.47. The Bank Nifty was volatile today it erased most of the morning gains and closed at 31399.40, it was up by 162.25 points only.

The top gainers of the day in Nifty50 stocks are Vedanta, Zee Ent, Ultratech Cement, UPL and HDFC Bank. The top losers of the day are Bharti Infratel, BPCL, Infosys, Bharti Airtel, and Nestle.

The Nifty midcap 100 index gained 117.05 points or 0.69% and closed at 17021.55. Whereas the Nifty smallcap gained70.80 points or 1.21% and closed at 5900.65.

In the Nifty midcap space, the top gainers of the day are Future Consumer, Bombay Burmah and the losers are Reliance Infra, Reliance Capital. In the smallcap space the top gainers of the day are ITI, Suzlon Energy and losers are Jain Irrigation, Infibeam Avenue. 

 

Nifty Sectors- Top gainers of the day

Among sectors, the top gainers of the day are Real Estate, Construction Materials, Chemicals, Aviation, and Media. The losers are Logistic, Manufacturing, Telecom, Alchohol, and container packaging.

Yesterday, FIIs and DIIs both are sellers. For today’s position you can check the link after 6 Pm

 

Stocks in news

Granules Indian and Glenmark Pharma have got USFDA’s approval for new drugs. The share price of both the company gained 2.82% and 0.96% and closed at Rs 123.90 and Rs 343.20 per share respectively.

Goa Carbon has resumed its Goa unit operations, it was halted from 2nd January for maintenance. The share price of Goa Carbon gained 0.60% and closed at Rs 219.65  per share.

Supreme Court has asked the Department of Telecommunication to refund Rs 104 crore to the company. The share price of RCom has closed flat at Rs 0.85 per share.

The Global Brokerage house has slashed the target price of Zee Entertainment from Rs 390 to Rs 360 per share. But it has retained its buy rating on the stock. The share price of Zee Ent gained 2.39% and closed at Rs 267.75 per share.

HCC JV has bagged Delhi Metro order worth Rs 489 crores, out of which HCC’s share is Rs 367 crore. The share price of HCC has jumped 3.96% and closed at Rs 10.50 per share 

The Panama Petrochem promoters have increased the shareholding in the company in December end quarter. The share price of Panama Petrochem has gained 6.15% and closed at Rs 65.60 per share 

The Liquor maker GM Breweries has reported a 16.3% YoY decline in Q3 net profit. The Profit after tax fell to Rs 14 crore in the December end quarter compared to 16.7 crore in the last year same quarter. The revenue from operations during the quarter declined 3.9% on YoY basis. The share price of GM Breweries fell 4.20% and closed at Rs 392.05 per share.

 

Banking stocks in news today

HDFC Bank has reported 20% growth in advances during the quarter ended in December 2019 to BSE. The share price of HDFC Bank gained 1.58% and closed at Rs  1260.60 per share.

Crude and Rupee Updates:

Crude is under pressure today. The Brent Crude oil future price is trading at $68.20 per barrel. It is currently trading 0.90% down from the previous close. The Indian rupee is trading flat today it is Rs 71.83 against the US dollar.

 

Conclusions:

The Indian equity market will remain sideways until the tension in the Middle East gets cooled off. It may take two-three days’ time to ease the matter if Iran doesn’t escalate the issue. Traders should follow the SGX Nifty and global market closely and should trade with strict stop loss.

Above we have done analysis of top gainers of the day, stock news and indexes. You can also follow our Nifty and Bank Nifty view for tomorrow here.

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You may also like to read, Nifty Sensex weekly updates: Key factors for next week

 

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Happy Investing!!

Editor’s Desk