Sensex, Nifty End With Gains Led By Private Banks
- Oldest First
Closing Bell: A Strong Finish
Indian equity markets began the final full trading week of August on a strong note, ending near the highest point of the day.
The S&P BSE Sensex ended nearly 1% higher at 38,799 while the NSE Nifty 50 index ended 0.83% higher at 11,466. Both Sensex and Nifty have now gained in five out of the last six trading sessions.
Among the sectoral indices, the Nifty Bank ended as the outperformer in today's session, with gains of 2.4%. Gains were largely led by private banks like HDFC Bank, ICICI Bank and Kotak Mahindra Bank.
Most other sectoral indices remained flat or rangebound. The Nifty Realty was the top sectoral laggard, ending 1% lower while the Pharma and I.T. indices fell 0.4% and 0.3% respectively.
While the midcap index was in-line with the benchmarks, ending 0.9% higher, the smallcap index outperformed, ending with gains of 1.7%.
The India Volatility Index ended 4.1% lower at 19.12.
Market breadth was in favour of the gainers. 1,070 stocks on the NSE ended with gains while 809 stocks declined.
How Did The Sectoral Indices Fare
Zee Entertainment Leads Gains On The Media Index
Buzzing Stock: Pfizer
- Gains as much as 5.8% to Rs 4,869
- Biggest single-day gain in four months
- Trades at the highest level in over three months
- Up for the second straight day
- Has gained in five out of the last six trading sessions
- Today's volumes are 21% higher than its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 72
- Has recovered 82% from its 52-week low of Rs 2,668 on August 30, 2019
- 7 out of the 10 analysts tracking the stock have a buy recommendation; 1 sell call
- Return potential of the stock as per Bloomberg data is 3.7%
Kalyan Jewellers Files For IPO
Warbug Pincus-backed Kalyan Jewellers has filed for an Initial Public Offering, Bloomberg News reports citing a filing from the Kerala-based company.
The company intends to have a Rs 1,750 crore IPO, comprising a fresh issue of up to Rs 1,000 crore and sale by existing investors amounting to Rs 750 crore.
The company may further consider issue of equity shares, including a rights issue or a preferential issue of shares for up to Rs 500 crore in the pre-IPO placement.
Buzzing Stock: DCB Bank
- Among top performers on the Nifty Smallcap index
- Gains as much as 7.4% to Rs 89.95
- Biggest single-day gain in over a month
- Trades at the highest level in four months
- Up for the fifth straight day
- Longest winning streak in over two months
- Today's volumes are more than 13 times higher than its 20-day average
- Nearing overbought territory with Relative Strength Index (RSI) at 67
- Breaks above 50-Day Moving Average at 81
- Has recovered 52% from its 52-week low of Rs 58 on May 26, 2020
- 18 out of the 31 analysts tracking the stock have a buy recommendation; 5 sell calls
- Return potential of the stock as per Bloomberg data is 6.6%
Key Highlights