Informist, Wednesday, Sep 29, 2021
By Joe Milton
MUMBAI – Domestic share indices ended off day's low aided by a marginal fall in the US Treasury yield and crude oil prices. Renewed buying in information technology and power stocks also helped offset some of the losses in financial space.
Investors resorted to buy-on-dips after two days of sell-off in information technology stocks. Shares of HCL Technologies, Coforge, Tata Consultancy Services, and Infosys ended with 0.3-1.0% gain.
The Nifty IT index closed with 0.1% gains at 35282.65 points, after falling about 1.5% intraday.
Apart from this, entire power sector stocks were buzzing today on catch-up momentum as they offered better risk-reward ratio. Shares of Power Grid Corp of India and NTPC Ltd surged 6.0% and 6.6%, respectively.
Besides, quarterly rebalancing in various indices of National Stock Exchange led to a combined inflow of about $23 mln into Power Grid Corp of India and NTPC, according to Edelweiss Securities, helping them close higher.
The other top performer today were metal companies as traders covered their short positions ahead of expiry of the September derivative series on Thursday.
Shares of National Aluminium Co, Jindal Steel & power, Steel Authority of India, and Hindalco Industries ended 3-7% higher. The Nifty Metal index closed at 5661.25 points, up 2.3%. The index has gained 3.5% in the last three sessions.
On the other hand, bank stocks further consolidated and shares of most frontline banks ended down. Today, the Nifty Bank index fell below its support level of 37500 points, but managed to recoup some of the losses and closed at 37743 points, down 0.5%.
Shares of State Bank of India gained 3.4% aided by inflow due to the quarterly rejig of Nifty Bank index, while shared of HDFC Bank, ICICI Bank, and Kotak Mahindra Bank closed 1-2% lower.
Due to the weakness in the financial stocks, benchmark indices ended lower today. The 50-stock index touched an intraday low of 17608.15 points, but managed to partially recover and closed at 17711.30 points, down 0.2%.
Correspondingly, BSE-Sensex closed 0.4% lower at 59413.27 points, after touching a day's low of 59111.41 points.
However, the overall market breadth was slightly positive as more scrips on the NSE gained as investors churned their money towards mid-cap stocks. The mid-cap indices in NSE ended about 1% higher, and outperformed the small-cap indices.
* Among Nifty 50 stocks, 27 rose and 23 fell
* Among Sensex stocks, 12 rose and 18 fell
* On the NSE, 1,156 stocks rose, 775 fell and 103 were unchanged
* On the BSE, 1,915 stocks rose, 1,364 fell and 155 were unchanged
* Nifty Realty: Up 1.13%; Nifty PSE: Up 2.94%; Nifty Auto: Down 0.38%
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BSE National Stock Exchange
Sensex: 59413.27, down 254.33 pts (0.43%) Nifty 50: 17711.30, down 37.30 pts (0.21%)
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S&P BSE Sensitive Index Nifty 50
Lifetime High: 60412.32 (Sep 27) : Lifetime High: 17947.65 (Sep 24)
Record Close High: 60077.88 (Sep 27) : Record Close High: 17855.10 (Sep 27)
2021 1st day close: 47868.98 (Jan 1) : 2021 1st day close: 14018.5 (Jan 1)
2021 Closing High: 60077.88 (Sep 27) : 2021 Closing High: 17855.10 (Sep 27)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 60412.32 (Sep 27) : 2021 High (intraday): 17947.65 (Sep 24)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Arshad Hussain
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