The benchmark indices were trading flat at the mid-day on November 23 amid mixed global cues. Buying was largely confined to auto and bank stocks, while pharma, energy, infra and IT stocks saw some selling. The market is expected to remain lacklustre and consolidate in a range in the absence of any major events. At 12.29 pm, the Sensex was up 76.34 points or 0.12 percent at 66,099.58, and the Nifty was up 13.50 points or 0.07 percent at 19,825.30. About 1,834 shares advanced, 1,242 declined and 116 unchanged.
Hero Motocorp Ltd: The auto stock surged over 3 percent to Rs 3,533, rallying for the eighth consecutive session. The surge comes after the Nifty auto index scaled to a new 52-week high, lifting investor sentiment.
Bajaj Auto: Shares of the two-wheeler and three-wheeler major rose 3.1 percent to Rs 5,930 after the Nifty hit a new 52-week high. The scrip extended gains for the seventh trading session in a row.
Eicher Motors Ltd: The stock snapped its three-day losing streak after gaining 1.6 percent to Rs 3,893 on November 23. Much like the other two-wheeler companies on the index, the Royal Enfield maker was also a beneficiary of the surge in the auto index. About 4 lakh shares changed hands, matching the scrip’s one-week average.
IndusInd Bank Ltd: The private lender rose 1.5 percent to Rs 1,493, breaking a two-day losing streak. IndusInd Bank’s promoters have denied claims of raising funds by pledging their stake in the bank. They described as malicious and factually incorrect a report that claimed that the Hindujas raised Rs 8,000 crore by pledging IndusInd stake.
Wipro Ltd: Shares of the IT major rose close to a percent to Rs 402 The firm recently forged a partnership with NVIDIA to help healthcare companies accelerate the adoption of generative artificial intelligence (AI). Wipro will leverage NVIDIA’s AI software for enterprises for the production of AI across its current portfolio of healthcare solutions in the Affordable Care Act (ACA), Medicare, and Medicaid.
Cipla Ltd: The pharma major plunged 7 percent to Rs 1,182 after the United States Food & Drug Administration (USFDA) issued a warning letter to the company for its Pithampur unit. CNBC-TV18 said the warning letter flagged data integrity issues along with product complaints and microbial contamination.
Divi’s Laboratories Ltd: The stock fell over a percent to Rs 3,640, extending losses to the second day. Volumes were low as only 1 lakh shares changed hands as against the 1-week average of 5 lakh shares on the exchanges.
UltraTech Cement Ltd: Shares of the Aditya Birla Group company traded 1.3 percent lower at Rs 8,644, snapping their two-day gaining streak. About 2 lakh shares changed hands, matching the scrips 1-week and 1-month average.
SBI Life Insurance Company Ltd: The stock fell 1.1 percent to Rs 1,414, snapping its two-day gaining steak. About 3 lakh shares changed hands as against the 1-week average of 16 lakh shares.
Hindalco Ltd: Shares of the aluminium and copper major fell a percent to Rs 495, extending losses for the second trading session in a row.
Credit: Source link
