Nifty trades above 10,130 mark; GAIL, Tech Mahindra top gainers

India Infoline News Service | Mumbai | December 07, 2017 13:46 IST

Midcaps continue to outperform, while rate sensitive and metals stocks turned strong as PSU Bank and Metal indices gained a percent.

Stock Market
The Indian benchmark indices reversed the losses made earlier in the week and gained 0.6% each, led by gains in utilities, capital goods, auto, power, metal, banks and financials counters.

Investors are refraining from taking fresh positions ahead of key events lined up next week, including the US Federal Reserve's policy review and elections in Gujarat. As a result of this, indices have been range bound this week. 

At 1:45 PM, the Sensex was up by over 250 points or 0.79% at 32,854, while the NSE Nifty gained 80 points or 0.8% to 10,124.

Shares of D-Mart owner snapped two-day decline and gained 4% after a block deal. About 19.92 lakh shares worth Rs225cr changed hands in a single block deal.

Shares of Tata Motors Jaguar Land Rover (JLR) owner snapped two-day decline and rose as much as 2.1% to Rs405.3. JLR sales roses by 10% on a yearly basis last month, largely led by the new Land Rover Discovery and the Range Rover Velar.

Shares of L&T snapped two-day decline and rose as much as 2% to Rs1,215. The company's subsidiary L&T Hydrocarbon Engineering bagged an order worth Rs 1,600 crore from Hindustan Petroleum Corporation Ltd

The BSE Midcap Index and BSE Smallcap Index was up by 1%. Both these indices outperformed the Sensex.

All sectors on the NSE traded in green, except Nifty Pharma which was marginally down. Other sectors, including IT, FMCG, bank, auto, and media, all traded in green. 

GAIL (+6.4%), Tech Mahindra (+4.8%), Bosch (+2.9%),  Bajaj Auto (+2.8%) and Eicher (+2.9%) were the top gainers on the Nifty50.

Coal India (-0.94%), TCS (-0.5%), Sun Pharma (-0.86%), Cipla (-0.73%), and Wipro (-0.4%) were the top losers in today’s trade.

India VIX dropped 3.6%.

Out of 1,988 stocks traded on the NSE, 1,206 advanced, 466 declined and 316 remained unchanged today.

A total of 44 stocks registered a fresh 52-week high in trade today, while 20 stocks touched a new 52-week low on the NSE.


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