Stock markets in India continued to trade on a positive note in the afternoon session amid firm European markets.
Reliance Industries, which posted biggest single day gain since May 18 (2009), propelled equity benchmarks to fresh five-month highs Wednesday ahead of expiry of February derivative contracts on Thursday. However, the correction in technology and HDFC Group stocks limited gains.
NSE Nifty closed at 8926.90 levels, up by 19.05 points or 0.21%, while BSE Sensex closed at 28864.71 levels, up by 103.12 points or 0.36%.
Asian stock markets finished mixed as of their recent closing prices. The Hang Seng gained 0.99% while the Shanghai Composite was higher by 0.24%. The Nikkei 225 was even. European markets are higher today with shares in France leading the region. The CAC 40 is up 0.38% while Germany’s DAX is up 0.30% and London’s FTSE 100 is up 0.13%.
Reliance Industries Limited (RIL) was the top Nifty gainer; whereas NTPC Limited was the top Nifty loser in Wednesday’s trading session. RIL closed at Rs 1209.80 per share, up by Rs 121.60 per share or 11.17%. NTPC closed at Rs 166.30 per share, down by Rs 6.20 per share or 3.59%.
Broader markets underperformed on Wednesday. BSE Mid-cap index closed at 13506.93 levels, down by 78.40 points or 0.58%, snapping a four-day gaining streak. BSE Small-cap index closed at 13573.03 levels, down by 78.88 points or 0.58%.
Reliance Industries Limited was the star performer of the day. The stock reacted to the major announcements made by Mukesh Ambani on Tuesday where he announced that almost 7 customers have been added every second in past 170 days since Reliance Jio has been launched. Almost 100 million customers have been added in less than 170 days for Reliance Jio.
Reliance Industries Limited traded on 9-year high of Rs 1211.65 per share, up by Rs 123.45 per share or 11.34% on an intraday basis. The stock has hit Rs 1200 per share for the first time since May 19, 2009. The stock was the top open interest gainer of the day with increase in its open interest by 65.40%.
The stock has added almost Rs 39429 crore to its market capitalisation in Wednesday’s trade alone. The stock witnessed futures turnover of Rs 9002 cr in Wednesday’s trading session.
Reliance Jio Infocomm Ltd., aims at nearly Rs 1 lac cr revenue with almost 40 cr subscribers for FY18.
Axis Bank touched high of Rs 528.05 per share, up by Rs 23.7 per share or 4.69%. The stock rallied owing to rumours in the market that other private banks are planning to buy government’s stake in the Bank.
Arcotech Limited closed at Rs 730.05 per share, up by Rs 100.85 per share or 16.03%.
Stocks of HOV Services on Wednesday surged almost 15%, following the news of HOV Services combining US-based, SourceHOV & Novitex with Quinpario.
Cosmo Ferrites, today announced that the company has successfully commenced the production of LED lamps and lighting effects. Soon after the announcement by the company the stock rallied over 13% in closing hours.
CMI to issue upto 3% equity at Rs 300 per share to promoters. CMI closed at Rs 193.10 per share, up by Rs 12.95 per share or 7.19%.
There were 551 advances, 1091 declines and 271 unchanged stocks on NSE, reflecting the strong negative undertone in the market.
The rupee was trading at 66.96 per US dollar.
Top 5 Nifty Gainers: Reliance Industries Ltd. (11.17%), Idea (5.17%), Axis Bank (3.94%), Asian Paints (2.87%), and Coal India (2.63%).
Top 5 Nifty Losers: NTPC (-3.59%), Ambuja Cement (-2.39%), Power Grid (-2.35%), TCS (-2.25%) and Infosys Ltd. (-2.23%)
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