Nifty closed above 12200 Sensex up 206 pts,  Stock news for today

 

Sensex, Nifty & Stocks news for today: The market opened in positive today morning. It was trading in a tight range in the first half and some buying was seen in the second half. All the indices touched fresh record high today and closed near the high today. Nifty now closed above 12200 level.

At close, Nifty gained 56.65 points and at 12221.65 while Sensex gained 206.40 points and at 41558.57. The NSE Banking Index Bank Nifty was volatile during the day was also up by 104 points and closed at 32244.24 today.

The Nifty midcap 100 declined today, it fell 46.20 points or 0.27% and closed at 16892.75. The Nifty smallcap 100  index closed almost flat today it was up just 1.90 points and closed at 5691.90 today.

 

Nifty stocks news for today

The top gainers in the Nifty50 are M&M, Sun Pharma, JSW Steel, Asian Paints, and ITC. The losers in the Nifty50 stocks are Tata Motors, GAIL, Grasim, SBI and Yes Bank.

In the Nifty midcap space, the top gainers are Prestige Estates, Dilip Buildcon and the losers are Reliance infra, Reliance Power. In the Nifty smallcap space the top gainers are Reliance Comm, Cyient and the losers are Galaxy Surfacta, Delta Corp.

Among the sectors in NSE, Retail, Metal, IT& Software, Real Estate, Oil & Gas and Healthcare are the major gainers. Among the losers are Paper, Power, Telecom, Industrial Gases, Plastic Products, and Hospitality.

FIIs are the buyers in the cash market consecutively for the last three days. For today’s FIIs position you can check the link after 7 pm here 

 

Other news in the market 

Prince Pipes and fittings has launched an IPO today. There are a total of 8 investors including HDFC life, Mirae Asset MF, HDFC MF Tata MF to participate in the anchor bidding of Rs 150 crore in Price Pipes.

The National Company Law Appellate Tribunal (NCLAT) has restored Cyrus Mistry as the Executive Chairman of the Tata Group. NCLAT holds that the appointment of N Chandrasekaran is illegal.

 

Other stock news for today in the market

Sunteck Realty has got good response at his recent launch of the 4th Avenue Goregaon. The share price of Sunteck Realty has gained 3.25% and closed at Rs 416.65 per share.

Securities and Exchange Board of India (SEBI) has fined the promoters of PC Jeweller, a total of 8 crore for alleged unlawful gains by violating insider trading norms. The share price of PC Jeweller has declined 4.84%  and closed at Rs 24.60 per share.

Hester Biosciences board has approved raising up to Rs 150 crore through qualified institutional placement (QIP) or preferential allotment. The share price of Hester Biosciences has gained 0.49% and closed at Rs 1474.85 per share.

The Tata Group companies may look at restructuring listed companies Tata metaliks and Tata Sponge which both may be named Tata Steel Long Products as per the website Moneycontrol.com. The share price of Tata Steel gained 1.22%  and closed at Rs 444.75 per share.

The mineral producer NMDC has received an extension of mining leases for 20 years. The share price of NMDC has gained 2.35% and closed at Rs 119.95 per share

 

Banking stock in news

As per the RBI’s Risk Assessment Report (RAR). The bank of Baroda has under-reported bad loans by Rs 5250 crore for the year 2018-19. The divergence in provision for NPAs for 18-19 stood at Rs 4090 crore, the bank already made provision of Rs 1475 crore in the current year. So the remaining impact is Rs 2615 crore as per the BOB. The share price of Bank Of Baroda fell 3.23% and closed at Rs 98.90 per share.

Brokerage and Rating Agency’s views in stocks

The global brokerage house Credit Suisse has maintained an outperform call on dr Reddy. It has set the target price of Dr. Reddy at Rs 3055 per share. The share price of Dr. Reddy has gained 1.65% and closed at Rs 2873.45 per share.

CRISIL has put PNB’s bonds on rating watch with developing implications. The share price of PNB fell 2.32% and closed at Rs 63.20 per share.

The global brokerage house Credit Suisse has cut its target price of Hindustan Unilever from Rs 2180 to Rs 2150 and maintained a neutral rating. The share price of HUL fell 1.67% and closed at Rs 1928.55 per share.

 

Crude and Rupee updates:

The Brent crude oil future is trading 0.45% lower than yesterday’s close. The current at (5 pm IST) trading price of Brent Crude is $ 65.80 per barrel. The Indian rupee is trading at Rs 7097 against the US dollar.

 

Conclusions:

Indian stock market indices have touched a fresh record high today as indicated in yesterday’s report. The benchmark indices with the support of global market can touch higher in coming days. Indian market is looking positive, investors and traders should follow and track global market closely.

We have done Index analysis and updated all major stock news for today in the report. Traders can also follow our Nifty and Bank Nifty technical views for tomorrow here.

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Happy Investing!!

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