Sensex, Nifty Log Gains For Third Day Aided By I.T., Power Stocks

India's stock benchmarks logged gains, aided by gains in information technology, utilities and power stocks. This is the third day in which the S&P BSE Sensex and NSE Nifty 50 have advanced.

The Sensex rose 0.37% to 60,616.89. The NSE Nifty 50 advanced by similar magnitude to 18,055.75. The is the highest closing level since Nov. 15 for the 50-stock gauge.

HCL Technologies Ltd. had the largest increase, rising 4.3%. Today, 24 of 50 shares rose, while 26 fell.

The broader indices underperformed their larger peers with S&P BSE MidCap closing little changed and S&P BSE SmallCap adding 0.15%.Thirteen of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Power and S&P BSE Utilities gaining over 1.7%. On the flipside, S&P BSE Metal shed 2.75%.

The market breadth was skewed in the favour of bulls. About 1,939 stocks advanced, 1,509 declined and 65 remained unchanged.

• Adani Power’s board approves appointment of Shersingh Khyalia as CEO, with effect from Jan. 12, 2022.

• Khyalia is a chartered accountant with over 32 years in power industry.

Source: Company statement

Shares of Fortis Healthcare Ltd. fell 2.44%, the steepest intraday decline in three sessions to Rs 282.35 apiece

A suit has been filed against the company along with others by Emqore Envesecure alleging copyright infringement, tortious interference with contracts, etc. and has claimed damages more than $6.5 billion from all defendants

Of the ten analysts tracking the company, nine maintained 'buy' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 12.2%.