Sensex, Nifty End Higher For Third Day Led By I.T., Pharma & Metals
- Oldest First
Third Day Of Gains
Indian equities ended higher for the third straight day, even as benchmark indices traded in a narrow range through the trading session.
The S&P BSE Sensex ended 0.5% higher at 51,279 while the NSE Nifty 50 index ended 0.5% higher at 15,174. Indian markets will be shut tomorrow on account of a holiday. As a result, today's session acted as the expiry for the weekly options contracts.
Among the sectoral indices, I.T., Pharma and Metals outperformed in today's session. The Nifty Metal index was the top sectoral gainer, ending 1.9% higher while the Nifty I.T. index gained 1.7%. The index for drugmakers also ended the session with gains of 1.5%.
Among the other gainers, the Nifty Auto index ended with gains of 0.9%. Other sectoral indices like the Nifty Bank and the Nifty Media index ended little changed.
The PSU Bank index was the only sectoral laggard in today's session, ending 0.2% lower.
Broader markets outperformed in today's trading session. The Nifty Midcap index ended with gains of 0.8% while the Nifty Smallcap index ended 1.4% higher.
The India Volatility Index fell 7.7% but managed to end above the mark of 20 at 20.75.
1,096 stocks on the NSE ended with gains while 807 stocks posted losses in today's session.
How Did The Sectoral Indices Fare
Quick Heal Technologies Approves Share Buyback
- Proposal to buyback up to 63.26 lakh equity shares or 9.85% of total paid-up equity share capital of the company.
- Total buyback amount will not exceed Rs 155 crore
- Buyback price of Rs 245 per share is at a premium of 33.8% to Tuesday's closing price
- Promoters held 72.8% stake in the company before the buyback.
- Shares gained as much as 17.3% to Rs 214.8, post the announcement.
Can IDBI Bank Exit The PCA Framework?
Persistent Systems At Record High
- Among top gainers on the Nifty Smallcap index
- Gains as much as 6.5% to Rs 1,819.5
- Biggest single-day gain in six months
- Up for the third straight day
- Today's volumes are more than triple its 20-da average
- Relative Strength Index (RSI) of the stock at 69
- Out of the 33 analysts tracking the stock, 20 have a buy recommendation; 8 sell calls
- The stock trades 8.6% higher than its 12-month Bloomberg consensus price target of Rs 1,648.4
Observations For Dr Reddy's New York Plant
- Audit of API manufacturing plant in New York completed by U.S. FDA.
- Plant issued form 483 with three observations.
- Observations will be addressed within stipulated time.
- No sales currently from this plant.