Market Highlights: On Thursday the Sensex and Nifty continued their last day’s positivity and for the fourth day of the week of the stock market ended on a positive note. This positive trend was mainly accelerated by the gains in the financials and realty stocks. Regaining from the last day (Wednesday), Sensex closed at 39,113, 39 points higher than the previous trading while Nifty closed at 11,559 with a gain of 9 points. During the last trading day (Wednesday), the Sensex closed 230 points higher at 39,073, while Nifty marginally increased by 77 points to close to 11,550 points.
Market: Key highlights from Wednesday’s trading session: –
- The market rallied on the positive side for 4th day of the week.
- Nifty moved up by 39 points to end at 39,113.
- Sensex earned 230 points to finally stand at 39,073.
- Top Nifty 50 gainers: Induslnd Bank, Tata Motors, Mahindra & Mahindra, State Bank of India, and Grasim.
- Top Nifty Losers: ONGC, Bajaj Auto, RIL, Zee, and coal India.
- Real estate stocks jumped with Nifty Realty by 6 percent after Maharashtra government announced a cut in the stamp duty from 5 percent to 2 percent. Cities like Mumbai, Pune, Nagpur, and Nashik charge stamp duty of 5 percent while in other cities, the rate is 6 percent.
- DLF surged over 9 percent.
- Godrej Properties, Sunteck Realty, Prestige, Oberoi Realty, and Sobha increased by 6.5 percent each.
- The initial public offer (IPO) market has been lackluster this year amid volatility due to the pandemic. In 2019, 16 companies launched their IPOs raising over Rs 12,000 crore, and 2020 was expected to be a rebound year.
- Tractor companies reported a strong recovery in the sales numbers during M4FY21.
- The rupee ended at the highest level against the dollar after March 13.
- The Ministry of Civil Aviation has given a green signal to 78 new routes under the 4th round of RCS.
- The water management company, VA Tech Wabag has raised Rs. 120 crore from marquee investors, for “growth capital”, through a preferential issue of equity shares at Rs 160 apiece.