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Nifty Settles Above 15150; RIL Gains Over 4%

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After starting weak indices recouped losses and traded firm in early trade and continue to trade in a range ahead of the weekly derivatives expiry. At the close, Sensex ended up by 222 pts. or 0.43 percent at 51531, while Nifty gained 0.44% to 15173. Broader markets however underperformed in today's session with Nifty MId cap 100 up by just 0.15% towards the end of the session.

 
Nifty Settles Above 15150; RIL Gains Over 4%

Hindalco, Reliance, Sun Pharma, GAIL and Bharti Airtel were among the top gainers in today's deal, while laggards included stocks like NTPC, Eicher Motors, Titan, Larsen and Toubro and Tata Motors.

Sectorally, there was seen weakness in the bank, auto, financial services, media, PSU Bank and realty space, with losses of over 1 percent on Nifty PSU Bank. This is even as Moody's iterated that bad loans shall not worsen sharply for PSBs amid economic resilience.

Hindalco shares hit their fresh 52-week high of Rs. 297.35 after its Q3 announcement on Wednesday. The operating performance at the company has been boosted on account of lower input costs and further propelled by increase in base metal prices as well as improved demand.

Shares of Reliance Industries rallied over 3.7% to hit day's high of Rs. 2048.7 apiece on the NSE. probably the spike in share price of the conglomerate comes on the back of HC lifting stay order on Future deal.

L&T Construction bagged order worth Rs. 1000-2500 crore for transportation infra business.

Shares of MRF slipped to Rs. 90750 and were last trading weak by over 6%. The company's profit came in at Rs. 520 crore while it also declared an interim dividend of Rs. 3 per share.

Amid IPO frenzy, 100 year old Tamilnad Mer¬cantile Bank (TMB) is gearing up for the primary market by the end of this year. Also, RailTel Corp is slated to open its IPO issue on February 16.

 

Meanwhile, European indices traded higher with gains of up to 0.43% on both FTSE and German DAX.

GoodReturns.in

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