Indian indices trade higher; Nifty up by 1%, Sensex jumps over 437 points
Benchmark indices ended higher by 1% with significant gains in FMCG, IT, and PSU Banks. Nifty went up by 1% or 134.80 points and closed above the 13,500 above 13,601.10, while S&P BSE Sensex gained by 0.95% or 437.49 points and closed at 46,444.18.
Dish TV (11.11%), Idea (10.53%), Mphasis (8.51%), Indiabulls Housing Finance (9.17%), and Vedanta India (8.23%) were among the top Nifty gainers. In contrast, Punjab National Bank (4.64%), IDBI Bank (2.37%), Crompton Greaves Consumer Electricals (1.91%), Page Industries (1.05%), and Ajanta Pharma (1.31%) were among the top Nifty losers.
All the sectoral indices ended in the green. BSE Midcap and BSE Smallcap went up by 2.40% and 2.65% respectively.
WPIL Ltd.’s stocks surged by 20.00% and traded at Rs. 597.60 after the company received letters of intent from Madhya Pradesh Jal Nigam for two projects. The aggregated amount of the projects stood at Rs. 851.31 crore.
Dhampur Sugar Mills Ltd.
The company’s stocks went up by 4.14% and traded at Rs. 170.95 after the company’s board approved the expansion of distillery capacity from 1.50 lakh LPD to 2.50 lakh LPD at its Asmoil unit in Uttar Pradesh.
Ramco Systems Ltd.
The company signed a multi-million dollar deal with a Global Fortune 500 major to unify and transform its payroll for 18 countries in the Asia-Pacific region. The project will be based on Ramco’s Managed Payroll Services. The stocks of the company went up by 6.85% and traded at Rs. 605.90.
Glenmark Pharmaceuticals Ltd.
Stocks of Glenmark Limited surged by 2.50% and traded at Rs. 496.15 after the firm entered into an exclusive licensing agreement with Menarini. The association will help in commercializing its innovative nasal spray Ryaltris across 33 countries.
The company on Wednesday announced a strategic digital and IT partnership deal with German wholesaler METRO AG. The stocks of the company traded higher by 5.70% at Rs. 384.95. The estimated value of the deal for the duration of the first 5 years is $700 million.
Dilip Buildcon Ltd.
Stocks of Dilip Buildcon Ltd. surged by 6.02% and traded at Rs. 380.25 after receiving a letter of acceptance for an EPC Project worth Rs. 1,001 crore in Rajasthan.
Larsen & Toubro Limited
The company bagged an order worth between Rs. 2500 and Rs. 5000 crore for the water and waste treatment as a part of Jal Jeevan Mission. The stocks of the firm went up by 0.34% and traded at Rs. 1,266.95.
Indian rupee closed at Rs. 73.89 against the US Dollar amid a positive domestic equity markets session.
Global Markets Ended in the Green
Global markets ended higher despite worries over a new strain of coronavirus and Trump’s threat on not signing the COVID-19 bill. FTSE MIB went up by 0.51%, Nikkei 225 surged by 0.33%, Hang Seng surged by 0.86% while FTSE 100 declined by 0.19%.
Mr. Aamar Deo Singh
Head Advisory, Angel Broking Ltd