NIFTY Financial News

RattanIndia Power (numbers of share traded: 8.17 crore), Hind Const Co(numbers of share traded: 6.93 crore), PNB(numbers of share traded: 6.86 crore), L&T Fin Holding(numbers of share traded: 6.34 crore) and Bank of Maharashtra(numbers of share traded: 6.27 crore) emerged top gainers in Monday's market in terms of trading volume. The NSE Nifty index closed 133.5 points up at 19322.55, while BSE Sensex ended up 486.49 points at 65205.05.

Godrej Consumer Products Ltd. traded 1.92 per cent lower in Monday's session at 02:15PM (IST).

Sensex and Nifty are touching all-time high peaks every day, domestic brokerage firm Motilal Oswal on Monday said the valuations are far more reasonable now than that during October 2021 high. «As the benchmark soars to a new high, the Nifty trades at a 12-month forward P/E of 18.8x, at a 6% discount to its own long-period average (LPA). Further, it also trades at a 12-month forward P/B of 3x, at a 10% premium to its LPA,» Motilal said in a strategy report.

On the technical charts, the 200-DMA of the stock stood at Rs 104.0, while the 50-DMA was at Rs 112.94. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Tata Elxsi Ltd. slipped 0.04 per cent to Rs 7580.7 in Monday's trade. It hit a high of Rs 7678.95 and low of Rs 7558.0 during the session.

Trent Ltd. gained 0.1 per cent to Rs 1764.9 in Monday's trade as of 12:51PM (IST). The stock hit a high price of Rs 1789.95 and low of Rs 1755.6 during the session.

«So naturally, people have now larger exposure, even in debt for the Indian economy. That is where basically they may want to have hedging instruments, like corporate bond index futures or even government bond futures,» says Ashish Chauhan, MD & CEO, NSE.For NSE it is like Diwali has come three months early right, it is that kind of a moment.In a way this was a long cherished dream to bring the markets on shore from where they had gone which is called offshoring and of course there were strategic reasons for a country to have pricing of its assets, especially important assets like markets and that is what the IFSC was created for to compete with the best and the brightest international services zone like Singapore or Dubai or Hong Kong.

Info Edge (India) Ltd. gained 0.21 per cent to Rs 4491.95 in Monday's trade. It hit a high of Rs 4507.15 and low of Rs 4449.8 during the session.

Bajaj Holdings & Investment Ltd. rose 0.02 per cent to Rs 7001.0 in Monday's trade as of 12:10PM (IST) even as the benchmark Nifty ruled at 19285.7, up 96.65 points. The scrip had closed at Rs 6999.7 in the previous session.

GAIL (India) Ltd. traded 1.0 per cent up at Rs 106.05 on Monday at around 11:59AM (IST), while the benchmark BSE Sensex advanced 395.19 points to 65113.75. As many as 263,895 shares changed hands on the counter with a total value of Rs 2.78 crore.

United Spirits Ltd. slipped 0.01 per cent to Rs 911.55 in Monday's trade. It hit a high of Rs 914.95 and low of Rs 909.6 during the session.

As Nifty forms a new high and headlines turn even more bullish, one thing which should be kept in mind is that volatility knocks the market without giving any notice and volatility in the market can make even the best of the rational minds swayed by news flash. As an investor, one needs to look at every sector and company and their operating matrix separately.

Vedanta Ltd. rose 0.38 per cent to Rs 279.1 in Monday's trade. It hit an intraday high of Rs 280.4 and low of Rs 278.65, respectively, during the day.

Natco Pharma(up 2.76 per cent), Divis Laboratories(up 1.72 per cent), Granules India(up 1.35 per cent), Zydus Lifesciences(up 1.29 per cent) and Cipla(up 1.24 per cent) were among the top gainers. Laurus(down 1.23 per cent), Aurobindo Pharma(down 0.93 per cent), Glaxosmithkline Pharmaceuticals(down 0.81 per cent), Lupin(down 0.73 per cent) and Alkem Laboratories(down 0.7 per cent) were the top losers on the index.

ICICI Prudential Life Insurance Company Ltd. traded 0.72 per cent up at Rs 576.5 on Monday at around 10:51AM (IST), while the benchmark BSE Sensex advanced 409.93 points to 65128.49. As many as 167,542 shares changed hands on the counter with a total value of Rs 9.68 crore.

Suzlon Energy(up 9.80%), RTNPOWER(up 6.19%), KPI Green Energy(up 5.61%), Orient Green Power Company(up 4.89%), JSW Energy(up 4.40%), Reliance Power(up 3.91%), Jaiprakash Power Ventures(up 3.25%), Voltamp Transformers(up 2.06%), DPSC(up 1.75%) and Adani Transmissions(up 1.73%) were among the top gainers. Karma Energy(down 2.60%), Power Grid Corporation of India(down 1.31%), Jyoti Structures(down 1.11%), PTC India(down 0.69%) and GE Power India Limited(down 0.29%) were among the top losers.

Mahindra & Mahindra(up 1.25 per cent), Eicher Motors(up 0.94 per cent), Ashok Leyland(up 0.9 per cent), Tata Motors(up 0.48 per cent) and Bharat Forge(up 0.38 per cent) were among the top gainers. Bajaj Auto(down 1.22 per cent), Hero MotoCorp(down 0.91 per cent), Maruti Suzuki(down 0.77 per cent), MRF(down 0.75 per cent) and Balkrishna Industries(down 0.63 per cent) were the top losers on the index.

Mahindra Lifespace Developers(up 1.31 per cent), Phoenix Mills(up 1.15 per cent), SOBHA(up 0.97 per cent), Brigade Enterprises(up 0.55 per cent) and Indiabulls Real Estate(up 0.5 per cent) were among the top gainers. Godrej Properties(down 0.87 per cent), DLF(down 0.34 per cent), Prestige Estates Projects(down 0.32 per cent) and Oberoi Realty(down 0.19 per cent) were the top losers on the index.

Wipro(up 0.27 per cent) and MPhasis(up 0.2 per cent) were among the top gainers. Persistent Systems(down 2.49 per cent), LTIMindtree Ltd(down 0.79 per cent), Coforge(down 0.77 per cent), Tech Mahindra(down 0.65 per cent) and L&T Technology(down 0.48 per cent) were the top losers on the index.

The large cap schemes are benchmarked against Nifty 100 -TRI and S&P BSE 100 -TRI. During the first six months of 2023, the benchmarks — Nifty 100 -TRI and S&P BSE 100 -TRI offered 5.15% and 7.07% respectively. That means, the large cap category managed to outperform Nifty 100-TRI but offered almost similar returns to S&P BSE 100-TRI.

Cholamandalam Investment & Finance Company Ltd. traded 1.19 per cent up at Rs 1155.3 on Monday at around 10:15AM (IST), while the benchmark BSE Sensex advanced 479.15 points to 65197.71. As many as 14,372 shares changed hands on the counter with a total value of Rs 1.66 crore.