Sensex Today Rallies 468 Points | Nifty Tops 18,400 | Auto & FMCG Stocks Witness Buying

Mon, 19 Dec Closing

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After opening the day marginally higher, Indian share markets continued their upward momentum and extended gains as the session progressed.

Benchmark indices registered healthy gains despite negative global cues and fear of recession gripping the market as stocks rose across the board.

IT sector stocks continued their downtrend and fell after Accenture Plc forecasted lower-than-expected sales for the upcoming quarter.

At the closing bell, the BSE Sensex stood higher by 468 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 151 points (up 0.8%).

Adani Ports, Mahindra & Mahindra, and Eicher Motors were among the top gainers today.

TCS, Infosys, and ONGC on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,491, up by 172 points, at the time of writing.

Broader markets settled on a positive note. The BSE MidCap inched 0.6% higher while the BSE SmallCap index ended 0.3% higher.

If you're looking to midcap stocks that offer growth in the long run, check out the 5 midcap stocks for long term.

Sectoral indices ended on a mixed note with stocks in the FMCG sector, auto sector, metal sector and power sector witnessing heavy buying.

While stocks in the IT sector, and media sector witnessed selling.

From the best auto stocks, shares of M&M added 3.1% on the back of its EV business getting some momentum.

Shares of Britannia, Adani Enterprises, V Guard Industries hit their 52-week highs today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian share markets struggled today and ended on a negative note, following losses in US market, fueled by recession concerns as central banks ramp up interest rates to fight inflation.

The Hang Seng inched down by 0.5%, while the Shanghai Composite index ended lower by 1.9%. The Nikkei edged 1% lower.

US stock futures are trading on a positive note. Dow futures are trading up 0.2% while Nasdaq futures are trading higher up by 0.3%.

The rupee is trading at 82.7 against the US$.

Gold prices for the latest contract on MCX are trading higher by 0.3% at Rs 54,470 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.7% at Rs 68,099 per kg.

Speaking of the stock market, Co-head of Research at Equitymaster Tanushree Banerjee talks about smallcap stocks for 2023, in her latest video.

In the video, she chalks out a few high-quality smallcap stocks that could be wealth-creating juggernauts over the next decade.

She also discusses why you should consider the cyclicality of smallcap valuation.

To know more, tune in to the video below:

KEC International's mega order

In news from the engineering sector, KEC International was among the top buzzing stocks today.

Infrastructure engineering, procurement, and construction major KEC International has bagged new orders worth Rs 13.1 billion (bn) across its various businesses.

The orders secured by the company include a 220 kV gas-insulated substation (GIS) for a refinery project in India, a 500 kV transmission line in Thailand, and a 132 kV transmission line and associated substations in Nepal.

Further, its solar business has secured a large order for a 500 MW solar PV project in India.

With these orders, the company's year-to-date order intake has now surpassed the Rs 145 bn mark, a robust growth of 20% compared to last year.

KEC has a presence in the verticals of power transmission and distribution, railways, civil and urban infrastructure, solar, oil & gas pipelines, and cables.

L&T Divests entire stake in L&T Infrastructure Development

Further in news from the engineering sector, L&T was among the most active stocks today.

Larsen & Toubro (L&T) today announced that it is divesting its entire stake of 51% in L&T Infrastructure Development Projects to the portfolio company of Infrastructure Yield Plus II, an infrastructure fund managed by Edelweiss Alternatives.

The transaction is subject to customary closing conditions, including regulatory and other approvals. Proceeds from this sale would amount to Rs 27.2 bn before closing adjustments and other terms of the transaction.

With this, L&T will divest the entire stake in the subsidiary in line with its strategy of reducing exposure to non-core asset-heavy developmental projects portfolio.

This development is a significant step towards the execution of our strategic Lakshya 2026 plan of the company.

The company has developed infra projects across key sectors such as roads, bridges, ports, and urban infrastructure.

After this acquisition, Edelweiss Alternatives will have a diversified portfolio of 26 assets across 13 states.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

The company has rewarded investors with 10 bonuses over the last 7 decades and the CAGR over the last 20 years stands at an impressive 25.6%.

L&T has been an investor's favorite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

Why Praj Industries share price is rising

Moving on to news from the sugar sector, Praj Industries witnessed a robust bull run on Monday, with the stock gaining nearly 6%.

This comes after the government lowered the GST rate on ethanol meant for blending under Ethanol Blended Petrol Program to 5% from earlier 18%.

It is still about 18% away from its 52-week high of Rs 461.5.

Under the government's Ethanol Blended Petrol (EBP) Program, oil marketing companies (OMCs) sell petrol blended with ethanol up to 10% and are mandated to increase it to 20% by 2025.

Praj Industries is engaged in the field of bio-based technologies and engineering, and among the top ethanol stocks in India.

It is a supplier of ethanol plants and offers sustainable solutions for bioenergy, high-purity water, critical process equipment, breweries, and industrial wastewater treatment.

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!

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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

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