Thursday, 24 June, 2021
Home Business Sensex, Nifty End Flat For Second Straight Day; Metal, Auto Stocks Outperform

Sensex, Nifty End Flat For Second Straight Day; Metal, Auto Stocks Outperform

The Nationwide Inventory Trade – Nifty 50 index recovered from intraday low to shut at flat be aware helped by shopping for curiosity in state-run banking, auto and steel shares. For many a part of the day, benchmarks traded with a detrimental bias nevertheless restoration in late Nifty Financial institution index within the final hour of commerce helped benchmarks get well from intraday lows. The Sensex fell as a lot as 484 factors on the day’s lowest stage and Nifty 50 index touched an intraday low of 15,460.

The Nifty 50 index superior 1 level to shut at 15,576 and Sensex slipped 85 factors to shut at 51,849.

Eight of 11 sector gauges compiled by the Nationwide Inventory Trade ended greater led by the Nifty PSU Financial institution index’s practically Three per cent acquire. Nifty Auto, Steel, and Realty indexes additionally rose between 1.5-2.four per cent.

Alternatively, FMCG and IT shares witnessed promoting strain.

Broader markets outperformed their bigger friends as Nifty Midcap 100 superior over 1.5 per cent to shut at report excessive and Nifty Smallcap 100 index climbed 1.Three per cent.

Shares of the Noida-based auto elements maker – Motherson Sumi Techniques – rose as a lot as 11 per cent to hit report excessive of Rs 264.40 on the BSE after it reported Match quarter earnings. Motherson Sumi reported consolidated internet revenue of Rs 714 crore as towards Rs 183 crore in the identical quarter final yr that marked a rise of 290 per cent or practically 4 occasions.

ITC was high Nifty loser, the inventory dropped practically Three per cent to shut at Rs 209 after its internet revenue declined within the March quarter. ITC reported a internet revenue of Rs 3,748 crore within the quarter ended March 2021 in comparison with a internet revenue of Rs 3,797.08 crore within the corresponding quarter of the earlier fiscal, marking a decline of 1.Three per cent.

Tech Mahindra, Axis Financial institution, Asian Paints, HDFC, Bharti Airtel, Kotak Mahindra Financial institution, HCL Applied sciences, TCS, Infosys, HDFC Financial institution and Nestle India had been additionally among the many losers.

On the flipside, UPL, Tata Metal, Hindalco, JSW Metal, Reliance Industries, Adani Ports, HDFC Life, IndusInd Financial institution and SBI Life had been among the many gainers.

The general market breadth was extraordinarily constructive as 2,141 shares ended greater whereas 974 closed decrease on the BSE.

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