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Stock market snaps 3 days fall; FMCG, banks gain

At close, the Sensex was up 375.61 points or 0.46% at 81,559.54, and the Nifty was up 84.20 points or 0.34% at 24,936.40.

Stock market snaps 3 days fall; FMCG, banks gain

Photo: IANS

The benchmark indices snapped a three days fall and ended higher on Monday.

At close, the Sensex was up 375.61 points or 0.46% at 81,559.54, and the Nifty was up 84.20 points or 0.34% at 24,936.40.

BSE Midcap, down by 0.28% and Smallcap down by 0.65% ended with losses amid concerns over the premium valuation of these segments amid the lack of fresh triggers kept investors cautious.

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On Sensex, the shares of Hindustan Unilever, ICICI Bank, ITC, Kotak Mahindra Bank, IndusInd Bank and Axis Bank ended as the top gainers. Tech Mahindra, NTPC, Tata Steel, Tata Motors and Power Grid ended as the top losers.

Indian rupee ended flat at 83.95 per dollar on Monday versus Friday’s close of 83.94.

On Nifty, the top gainers were HUL, Shriram Finance, ICICI Bank, ITC and Britannia Industries. On the losing side were ONGC, Tech Mahindra, Hindalco Industries, NTPC and BPCL.

As many as 266 stocks, including Hindustan Unilever (HUL), Dabur, DMart, Divi’s Labs, Godrej Consumer Products, Pidilite Industries and Shriram Finance, hit their fresh 52-week highs in intraday trade on BSE.

Among sectors, FMCG and Bank indices up 1% each. Capital Goods, Information Technology, Metal, Telecom, Media, Oil & Gas, Power, Realty down 0.3-1%.

The overall market capitalisation of the firms listed on the BSE remained flat at nearly Rs 460.2 lakh crore due to losses in the midcap and smallcap segments.

After a flat to negative start at 50,549.25, the Bank Nifty index managed to touched a day’s high of 51,192.75 during the day but ended at 51,108.60, up 1%.

Shares of SpiceJet rose by 4% after the company announced plans to issue shares to Carlyle Aviation as part of a restructuring deal to convert a portion of its dues into equity.

Jupiter Wagons fell for a third straight session as it plunged 7% to hit an intraday low of Rs 507.45 on NSE.

Stock of NMDC fell 1.3% as International iron ore prices slipped below the $90 per tonne mark to hit a 22-month low as continued weakness in Chinese demand weighs on prices.

On the IPO of the day, Bajaj Housing Finance was fully subscribed with four hours of opening on its first day of bidding.

The issue was oversubscribed 2.02 times by the end of the first day of bidding, as per data available on stock exchanges.

As per the BSE data, the Non-Institutional Investors (NII) category saw a subscription of 4.35 times, while the Retail Individual Investors (RIIs) portion was subscribed 1.51 times.

Qualified Institutional Buyers (QIBs) segment received bids for 19 crore shares compared to the 17.75 crore shares available.

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