Indian Indices End Flat; Dr Reddy's Laboratories and Bajaj Auto Among Top Nifty Gainers

Fri, 18 Dec Closing

   Previous Close   

   Pre-Open   

   SGX Nifty   

   09:30 am   

   12:30 pm   

Indian share markets witnessed some buying in the last hour of trading and ended their session marginally higher today.

At the closing bell, the BSE Sensex stood higher by 70 points (up 0.2%).

The NSE Nifty ended up by 19 points (up 0.1%).

Dr Reddy's Laboratories and Bajaj Auto were among the top gainers today.

IndusInd Bank, on the other hand, was among the top losers today.

SGX Nifty was trading at 13,782, up by 38 points, at the time of writing.

The BSE Mid Cap index ended down by 0.4%. The BSE Small Cap index ended down by 0.2%.

Sectoral indices ended on a mixed note with IT stocks and pharma stocks witnessing maximum buying interest and rising more than 1% each.

Telecom sector stocks, on the other hand, witnessed most selling.

Asian share markets ended on a negative note with the Nikkei ending down by 0.2% and the Hang Seng ending down by 0.7%.

The rupee is trading at 73.54 against the US$.

Gold prices for the latest contract on MCX were trading down by 0.4% at Rs 50,204 per 10 grams.

In one of his latest videos, India's #1 trader, Vijay Bhambwani, talks about whether you should buy gold bullion or gold exchange-traded-funds (ETFs).

Tune in here to find out more:

And to know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

Speaking of stock markets, note that since the lows in March 2020, the smallcap index has gained 98%.

While caution is indeed warranted, Richa Agrawal, Research Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rally.

Here's what she wrote in a recent edition of Profit Hunter...

• For one, the gap between Sensex and smallcap index is still huge.
  
  In January 2018, the smallcap to Sensex ratio was 0.57 times, versus a long term average of 0.44 times.
  
  At present, this ratio stands at 0.37 times, well below the long-term average.
  
  The possibility of a convergence between growth and value is a lot higher in the smallcap space, than in the large caps.
  
  And then here are some other interesting facts.
  
  Historically, the smallcap index, after a sharp correction, has risen up to 300%.
  
  So far, the smallcap index is up 98% since March. If you have not joined this rally yet, it might still not be too late.

The above observations have served Richa's smallcap service Hidden Treasure well. Her first batch of essential stock recommendations have offered robust returns so far, as can be seen in the chart below:

While the margin of safety in valuations has come down in these stocks, Richa has recently added another stock to this list.

This company is the world's largest player in a niche segment and its product falls in the essential category. This global leader enjoys unique competitive advantages that are hard to replicate by its peers.

If you are interested in knowing more and in becoming a Hidden Treasure subscriber, here's where you can sign up.

Moving on to stock specific news...

Borosil Renewables was among the top buzzing stocks today.

Solar glass maker Borosil Renewables said it has raised Rs 2 billion by issuing 1.58 crore shares through qualified institutional placement (QIP).

The issue opened on December 14, 2020, and closed on December 17, the company added.

BRL allotted 1,58,04,030 shares of the face value of rupee one each at Rs 126.55 per share. Post the QIP issue, the holding of promoter and promoter group will be 61.92%.

The funds raised will be utilised by BRL to service its capital expenditure requirements for a brownfield expansion to more than double its solar glass production capacity -- from 450 tonnes per day (TPD) to 950 TPD.

BRL is engaged in the manufacturing of low iron solar glass for application in photovoltaic panels, solar thermal flat plate collectors and greenhouses and is the only solar glass manufacturer in India.

The company commissioned its first solar glass manufacturing facility at Bharuch in Gujarat. It services India's solar panel manufacturers while simultaneously exporting its products to Europe, Turkey and North America.

In news from the IT sector, shares of IT companies witnessed huge buying interest today with sector heavyweights Tata Consultancy Services (TCS) and Infosys hitting their respective record highs, after Accenture reported better-than-expected results for the quarter ending November 30.

Acceture's revenue at US$ 11.8 billion, up 2% year-on-year (YoY) on constant currency terms, was well above its guidance and street's estimate.

EBIT (earnings before interest and tax) margin at 16.1% was driven by lower travel cost and increased utilization. Sequentially, margin was up 300 basis points to 93%, the highest in a decade.

The company reported new deal wins of US$ 12.9 billion, up 25% YoY, in a seasonally low quarter.

For all of fiscal 2021, Accenture now sees revenue growth of between 4% and 6%, up from a previous forecast range of up 2% to 5% all in local currency.

IT stocks including Coforge, Larsen & Toubro Infotech, HCL Technologies, Wipro and Tech Mahindra gained in the range of 1-3%.

Infosys share price gained 3% while TCS share price rose 2%.

Country's largest software exporter TCS was also in focus today as its Rs 160-billion share buyback offer opened today.

TCS has decided to buyback up to 5,33,33,333 equity shares and the floor price for this offer has been fixed at Rs 3,000 per share.

The offer will close on January 1, 2021.

This is the third share buyback offer from the company after August 2018 and May 2017.

Note that the buyback is to be made under the tender offer route, and is open to all eligible shareholders of the company holding equity shares either in physical or electronic form, as on the record date which is November 28.

We will keep you posted on more updates from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers