Stock Market Today: Sensex, Nifty Close Higher For Third Consecutive Session
The Nifty closed at 22,222.60, up by 118.55 points or 0.54%, and the Sensex closed 340.58 points or 0.47% higher at 73,116.71.
KEY HIGHLIGHTS
Rupee Flat Against U.S. Dollar
-The local currency closed flat at 83.51 against the US dollar.
-It closed at 83.52 on Monday.
Source: Bloomberg
Sensex, Nifty Close Higher For Third Consecutive Session: Closing Bell
Benchmark equity indices continued to gain in the third consecutive session with shares of heavyweight Reliance Industries contributing the most to the gains. The Sensex reclaimed 73,000 level after three sessions.
The Nifty closed at 22,222.60, up by 118.55 points or 0.54%, and the Sensex closed 340.58 points or 0.47% higher at 73,116.71.
"The Nifty is now approaching the hurdle zone around 22,300 after two days of rebound, which might lead to a pause or a resumption of a corrective phase," said Ajit Mishra – SVP, research at Religare Broking Ltd.
However he noted that a decrease in volatility could limit the decline. "The mixed sectoral trend presents opportunities for traders on both sides of the market, so it's important for them to plan their positions accordingly," he added.
Shares of Reliance Industries Ltd., Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., HDFC Bank Ltd., and Adani Enterprises Ltd. contributed the most to the gains.
While those of ICICI Bank Ltd., Tata Consultancy Services Ltd., Cipla Ltd., Axis Bank Ltd., and ITC Ltd. weighed on the Nifty 50.
Except Nifty FMCG and Nifty Pharma, all sectoral indices ended higher. Nifty Metal rose the most followed by Nifty Auto and Nifty Oil & Gas.
Broader markets outperformed benchmark indices. The S&P BSE Midcap ended 1.14% higher, and the S&P BSE Smallcap settled 1.79% up.
On BSE, 18 sector advanced, and two declined out of 20. The S&P BSE Utilities rose nearly 3% to become the top performing index, and the S&P BSE FMCG was the worst performing.
Market breadth was skewed in favour of buyers. Around 2,698 stocks rose, 1,114 stocks declined, and 111 stocks remained unchanged on BSE.
AIA Engineering Q4 Highlights (Consolidated,YoY)
Net profit at Rs 260 crore vs Rs 268 crore, down 3%
Revenue at Rs 1,150 crore vs Rs 1,274 crore, down 10%
EBITDA at Rs 297 crore vs Rs 316 crore, down 5.8%
Margin at 25.9% vs 24.8%
Safari Industries Q4 Earnings (Consolidated, YoY)
Net profit at Rs 43 crore vs Rs 38 crore, up 13%
Revenue at Rs 365 crore vs Rs 302 crore, up 21%
EBITDA at Rs 67 crore vs Rs 58 crore, up 15%
EBITDA margin at 18.4% vs 19.3%
Bajaj Electricals Approves Appointment Of Pooja Bajaj As ED
Approves appointment of Pooja Bajaj as Executive Director for 5 years effective May 14
Approves raising up to Rs 500 crore via QIP
Source: Exchange filing
