Sensex, Nifty recoup losses, end flat; auto stocks dip, PB Fintech gains 8%
The key benchmark indices recouped losses, led by fresh buying in select IT and financial shares, to end Friday’s trading session on a flat note. Auto stocks skidded for the second day in a row.
The S&P BSE Sensex, which, touched a low of 61,337, eventually ended at 61,663, down 88 points. In the process, the BSE benchmark also finished the week with a marginal loss of 132 points.
The NSE Nifty 50 settled 36 points lower at 18,308 on Friday.
Among the Sensex 30 stocks, Mahindra & Mahindra slipped 2.4 per cent. NTPC, Bajaj Finance, Maruti, IndusInd Bank and Bharti Airtel were the other notable losers. On the positive side, HCL Technologies and Asian Paints finished with gains of around a per cent each.
The broader indices – BSE Midcap and Smallcap were down nearly 0.5 per cent each. The breadth too was fairly negative, with 2,048 declining stocks against 1,455 advancing shares on the BSE.
The BSE Auto index slipped 1.2 per cent and was the major sectoral loser. The Capital Goods, Oil & Gas and Energy indices were the other prominent losers.
In the broader market, shares of TCPL Packaging hit a record high at Rs 1,696, and ended with a solid gain of 15.4 per cent on healthy business outlook. The stock of the packaging company surpassed its previous high of Rs 1,540.45, touched on September 5, 2022.
Shares of Bikaji Foods slipped 6% to hit a new low since listing and traded near the issue price. With today’s fall, the stock has declined 9.5 per cent from its high of Rs 334.70, touched on the listing day. It is now trading close to its issue price of Rs 300 per share.
Shares of TCPL Packaging soared 16% and hit a record high on healthy business outlook. In Q2FY23, the company’s consolidated revenues grew by 43 per cent YoY to Rs 361.7 crore on the back of higher volumes and better realizations.
Blue Dart was up 2% as the board announced expansion plans. The board announced the opening of 19 plus retail outlets in tier I & II towns as part of its expansion plans.
Here are some picks from the week gone by.
