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India Stocks Review: Indices end higher as RIL, IT cos bounce back

Informist, Thursday, Nov 25, 2021

 

By Vivek Kumar

 

MUMBAI – Benchmark equity indices ended the session higher today, led by gains in Reliance Industries as the stock witnessed its steepest rise in over 14 months. Gains in other heavyweight stocks such as ITC and select information technology companies also aided the market. 

 

The Nifty 50 closed 0.7% higher at 17536.25 points, and the Sensex ended up 0.8% at 58795.09 points. With this, the benchmark indices trimmed their losses for the November series to less than 2%.

 

The Nifty 50 closing the November derivative series above 17500 points is likely to be a positive, but it will be crucial to see if the index is able to sustain above this level, market participants said.

 

Shares of Reliance Industries ended 6% higher at 2,492.95 rupees in a sharp bounce-back, recouping most of the losses it saw in two weeks. The company had announced plans to spin off its gasification operations into a wholly-owned subsidiary after market hours on Wednesday, which also supported gains in the stock today.

 

Another heavyweight stock ITC also rose 1.6% amid news that the company was working on a nasal spray for the prevention of COVID-19. If approved, this is likely to improve the company’s non-core business prospects.

 

Shares of information technology companies also bounced back today after a couple of sessions of weakness. Tech Mahindra and Infosys rose 1.6% and 1.4%, respectively, while other frontline stocks in the sector also ended in the green.

 

The trend in banks was mixed today, with HDFC Bank and Kotak Mahindra Bank rising and ICICI Bank, Axis Bank and State Bank of India ending lower. Consequently, the Nifty Bank index ended 0.2% lower at 37364.75 points. 

 

Analysts expect the sector to consolidate going into the December series, after it fell over 5% in November amid the rollover of short positions.  

 

In tandem with the gains in headline indices, broader market indices also rose 0.5-1.0%.

 

* Among Nifty 50 stocks, 27 rose and 23 fell 

* Among Sensex stocks, 14 rose and 16 fell

* On the NSE, 1,291 stocks rose, 694 fell and 59 were unchanged

* On the BSE, 2,114 stocks rose, 1,178 fell and 119 were unchanged

* Nifty Pharma: Up 1.2%; Nifty Realty: Up 2.0%; Nifty PSU Bank: Down 0.5%

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BSE                                             National Stock Exchange
Sensex: 58795.09, up 454.10 pts (0.7%)        Nifty 50: 17536.25, up 121.20 pts (0.8%) 

————————————————————————————————

S&P BSE Sensitive Index                          Nifty 50
Lifetime High:62245.43 (Oct 19)                 : Lifetime High: 18604.45 (Oct 19)
Record Close High: 61765.59 (Oct 18)            : Record Close High: 18477.05 (Oct 18)
2021 1st day close: 47868.98 (Jan 1)            : 2021 1st day close: 14018.5 (Jan 1)
2021 Closing High: 61765.59 (Oct 18)            : 2021 Closing High: 18477.05 (Oct 18) 
2021 Closing Low: 46285.77 (Jan 29)             : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 62245.43 (Oct 19)         : 2021 High (intraday): 18604.45 (Oct 19)
2021 Low (intraday): 46160.46 (Jan 29)          : 2021 Low (intraday): 13596.75 (Jan 29)

2020 Closing High: 47751.33 (Dec 31)            : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23)             : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31)         : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24)          : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20)         : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19)          : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28))         : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23)           : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26)         : 2017 High(intraday): 10515.10 (Dec 26)

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End

 

Edited by Avishek Dutta

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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Source: Cogencis

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