Indices trade sideways, Adani ports and SEZ up 2.87%

The headline equity indices continued to trade near the flat line in afternoon trade. The Nifty hovered below the 21,750 mark. Barring the Nifty Auto index, all the sectoral indices on the NSE were in the green.

At 13:28 IST, the barometer index, the S&P BSE Sensex, was down 17.71 points or 0.02% to 72,222.55. The Nifty 50 index added 6.95 points or 0.03% to 21,738.35.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.75% and the S&P BSE Small-Cap index gained 0.88%.

The market breadth was strong. On the BSE, 2,615 shares rose and 1,203 shares fell. A total of 172 shares were unchanged.

Gainers & Losers:

Adani Ports and Special Economic Zone (up 2.87%), Adani Enterprises (up 2.75%), Coal India (up 2.05%), Nestle India (up 2.33%) and UPL (up 1.76%) were major Nifty gainers.

Eicher Motors (down 2.44%), Bharti Airtel (down 2.29%), Mahindra & Mahindra (down 1.62%), Bajaj Auto (down 1.49%) and Hindustan Unilever (down 1.10%) were major Nifty losers.

Stocks in Spotlight:

Grasim Industries rose 1.21% after the company announced that its chemical division has successfully commissioned additional 123,000 tons� annual capacity of advanced materials (Epoxy Resins and Formulation) manufacturing capacity at Vilayat, Gujarat.

Dr. Reddy`s Laboratories added 0.80%. The company, through its wholly-owned step-down subsidiary Dr. Reddy�s Laboratories, Inc., has acquired 1,014,442 preferred A-1 shares (equivalent to 6.46% stake) of Edity Therapeutics. Edity Therapeuticsis is an Israel based development stage biotechnology company.

Bajaj Auto shed 0.49%. The company said that it has sold 3,26,806 units in the month of December 2023, which is higher by 16.08% as compared with 2,81,514 units sold in the same period last year.

Mahindra & Mahindra (M&M) fell 1.34%. The auto maker announced that its overall auto sales for the month of December 2023 stood at 60,188 vehicles, registering a growth of 6.19% as against 56,677 vehicles sold in December 2022.

Further, the company`s Farm Equipment Sector (FES) announced that its total tractor sales (domestic + exports) during December 2023 were at 19,138 units, registergin a decline of 18% as against 23,243 units for the same period last year.

Global Markets:

Most of Europe and Asia will have a market holiday today. The US stock market will remain closed today on New Year�s Day.

U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead.

Powered by Capital Market - Live News