Indices end flat on Friday, Nifty settles at 11,464; mid, small-caps outperform
The domestic stock market ended flat with a positive bias on Friday. The S&P BSE Sensex settled 14 points, or 0.04 per cent higher at 38,854.5 levels while NSE’s Nifty ended at 11,464, up 15 points, or 0.13 per cent. India VIX dropped nearly 3 per cent to 20.68 levels.
SBI (up 2 per cent) ended as the top gainer on the S&P BSE Sensex while IndusInd Bank (down nearly 2 per cent) was the biggest loser. Of 30 constituents, 10 advanced while 20 declined.
On a weekly basis, Sensex gained 1.29 per cent while Nifty added 1.15 per cent.
The broader market, however, fared better than the frontline indices. The S&P BSE MidCap index settled at 14,660 levels, up 0.58 per cent and the S&P BSE SmallCap index ended 0.52 per cent higher at 14,558.
Sectorally, IT stocks rallied the most. The Nifty IT index ended 1.29 per cent higher at 18,633 levels. Nifty PSU Bank index gained 0.79 per cent while Nifty FMCG index settled 0.63 per cent higher at 30,972 levels.
Shares of Wipro and Tata Elxsi hit their respective 52-week highs on the BSE on Friday on the expectation of strong earnings growth in the current quarter (July-September) of the financial year 2020-21 (FY21). READ MORE
Shares of Max Healthcare Institute (MHIL) hit a high of Rs 133.80 on the BSE during the day on the back of heavy block deals. The stock settled at Rs 131.30, up around 17.5 per cent.
Strides Pharma ended nearly 13 per cent higher at Rs 685.90. In the past two months, the stock has rallied over 64 per cent after the company reported strong performance across all business segments in the April-June 2020 quarter (Q1FY21) despite significant disruptions and ambiguity in the business environment due to Covid 19.
Shares of Amber Enterprises India slipped 7.6 per cent to Rs 1,756 on the BSE on Friday, falling 9.4 per cent in the past two trading days on profit booking after the company completed its qualified institutional placement (QIP) issue. The stock has fallen 12 per cent from its record high level of Rs 1,997, touched in Tuesday’s intra-day trade.
Shares of Thyrocare Technologies surged over 5.5 per cent on the BSE on Friday, a day after the company informed that its board has authorised Dr. A Velumani, Chairman of the company, to identify and appoint a suitable candidate as a professional chief executive officer (CEO) for the company. At 11:32 AM, the stock was trading over 4 per cent higher at Rs 798 on the BSE as compared to a 0.09 per cent fall in the S&P BSE Sensex at 38,807 levels.
Shares of Jubilant FoodWorks hit a fresh record high of Rs 2,377, up 5 per cent on the BSE in intra-day trade on Friday in an otherwise subdued market. The stock surpassed its previous high of Rs 2,310 touched on September 3, 2020. In the past month, it has gained 25 per cent against a 1.2 per cent rise in the S&P BSE Sensex.
Shares of Max Healthcare Institute (MHIL) surged 19 per cent to Rs 132.55 on the BSE in the early morning trade on the Friday on back of heavy block deals. The stock of the healthcare facilities company was trading at its highest level since August 21, 2020. At 09:37 am, the stock was trading 12 per cent higher at Rs 125.65, as compared to 0.04 per cent rise in the S&P BSE Sensex.
Shares of Granules India rallied 5 per cent to Rs 378 on the BSE on Friday after the company announced that its US subsidiary has received marketing approval from the US Health Regulator (FDA) for Dexmethylphenidate HCl extended-release capsules for the treatment of attention-deficit hyperactivity disorder.
Here are some picks from the week gone by.
