NSE index Nifty closed at 11385, Banking & Metal stocks lead the rally

 

Indian markets opened in flat to positive note as indicated by the SGX Nifty today morning. The markets later extended its early gains and closed in strong notes. Indian markets closed in the green amid mixed cues from other Asian markets. In the NSE Nifty index, at closing, a total of 36 shares were in the advances while 14 shares in declines today.

The domestic market sentiments were positive with the reports that Finance Minister Nirmala Sitharaman held a virtual bilateral meeting with the United Arab Emirates (UAE) Minister of State for Financial Affairs Obaid Al Tayer. FM Nirmala Sitharaman urged the Middle Eastern Nation to participate in India’s ambitious Rs 111 lakh crore National Infrastructure pipeline.  There are about 7000 projects identified under the National Infrastructure Pipeline with a projected investment of Rs 111 lakh crore during 2020-25

On the global front, Asian markets are closed mixed. The European markets are trading steady as investors are weighing up evidence on how fast the second wave of coronavirus recovery is progressing. The US futures Dow and Nasdaq are trading higher.

 

 

BSE/ NSE Index today: Nifty, Sensex and Bank Nifty

 

At close, the NSE index, Nifty gained 138.25 points or 1.23% and at 11385.35 while Sensex was up by 477.54 or 1.26% and closed at 38528.32. The Bank Nifty also gained 469.75 points or 2.17% and closed at 22170.60 levels. 

The NSE index, Nifty midcap and smallcap indices also made a decent gain today. The midcap index gained 204.60 points or 1.24% and closed at 16660.05. The smallcap index was up by 82.45 points or 1.52% and closed at 5497 levels.

The top five gainers in the NSE index Nifty50 for the day are Grasim, Ultratech cement, Kotak Mahindra, JSW Steel, and ICICI Bank. The losers in the Nifty50 index for the day are BPCL, Tech Mahindra, Cipla, Gail, and IOC. The most active stocks for the day in the NSE index Nifty50 were Reliance, Bajaj Finance, and HDFC Bank.

The top gainers in the Nifty midcap space are Ashok Leyland, Cholamandalam and the losers are Emami and Edelweiss. The top gainers in the Nifty smallcap are Sunteck Realty and Sobha and the top losers are Lux Industries, Ashoka Buildcon.

On a sectoral basis, Banking & Finance, Metals & Mining, Oil & Gas, Automobiles, and Real Estate are the top gainers. The sectors that closed in the negative are Power and Industrial gas. 

 

Stocks in the news

 

GPT Infraprojects got an order from the Metro Railway project in Kolkata. The value of the order is Rs 196.30 crore. The NSE share price of GPT Infraprojects gained 10.61% on the news and closed at Rs 30.75 per share.

Petronet LNG has reported an 11% YoY decline in consolidated net profit to Rs 499.79 cr as against Rs 561.94 cr in the last year the same period. The company’s sales declined by 43.30% to Rs 4883.57 cr in the June end quarter as compared to Rs 8613.44 cr during the same period last year. The NSE share price of Petronet LNG gained 1.77% and closed at Rs 258.10 per share 

Birlasoft company formed a global strategic cloud alliance with Microsoft to help its clients to accelerate their digital journey as per BSE report. With this strategic tie-up, Birlasoft can support its enterprise clients with their cloud transformation needs, right from infrastructure to business applications.

Singularity Holdings has acquired 35 lakh shares of CG Power and Industrial Solutions shares at Rs 13.95 per share on NSE and Blue Diamond Properties bought 41293778 shares at Rs 13.97 share on BSE.

 

Conclusions:

Indian markets opened in a flat mode but extended yesterday gains. Markets got strong momentum in the second half led by Banking and Metal stocks and closed in a strong note. The NSE index, Nifty has finally closed above 11370 and now can touch 11500 without hurdle with support of 11250 levels. We can also see some positive action in the Bank Nifty in the current week.

 

You can also follow our Daily Nifty and Bank Nifty futures Live trading call in the morning.

 

Also read our,  Nifty & Bank Nifty-Key factors that will influence the market next week

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Happy Investing

Editor’s Desk