Sensex adds 76 pts; Nifty above 21,650; HUL slides over 3%

The headline indices traded near with small gains in afternoon trade. The Nifty traded above the 21,650 mark. Media, bank and private bank shares advanced while FMCG, IT and realty stocks declined.

At 13:26 IST, the barometer index, the S&P BSE Sensex, was up 76.25 points or 0.11% to 71,759.48. The Nifty 50 index added 31.25 points or 0.14% to 21,653.65.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.56% and the S&P BSE Small-Cap index added 0.73%.

The market breadth was positive. On the BSE, 2,183 shares rose and 1,581 shares fell. A total of 93 shares were unchanged.

Stock exchanges NSE and BSE on Friday said there will be normal trading session on Saturday, 20 January 2024 from the primary site in equity and equity derivatives segments as per regular market timings. Besides, it will be a trading holiday on Monday, 22 January 2024, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya.

Gainers & Losers:

Coal India (up 3.84%), Kotak Mahindra Bank (up 2.93%), Power Grid Corporation of India (up 1.51%), Apollo Hospitals Enterprise (up 1.28%) and Britannia Industries (up 1.40%) were major Nifty gainers.

Hindustan Unilever (down 3.17%), Tata Consultancy Services (down 1.38%), Indusind Bank (down 1.38%), Mahindra & Mahindra (down 1.32%) and Nestle India (down 1.08%) were major Nifty losers.

Hindustan Unilever (HUL) slipped 3.17%. The FMCG major�s standalone net profit rose marginally to Rs 2,519 crore in Q3 FY24 as against Rs 2,505 crore recorded in Q3 FY23. Revenue from operations stood at Rs 14,928 crore in Q3 FY24 as against Rs 14,986 crore reported in the same period a year ago.

Kotak Mahindra advanced 2.93% after the private sector lender`s net profit rose 7.63% to Rs 3,005.01 crore on 28.77% increase in net total income to Rs 14,096.04 crore in Q3 FY24 over Q3 FY23.

Stocks in Spotlight:

Reliance Industries (RIL) rose 0.18%. The company reported 10.9% rise in consolidated net profit to Rs 19641 crore on 3.2% rise in gross revenue to Rs 248160 crore in Q3 FY24 over Q3 FY23.

Tata Steel rose 0.50%. The steel major announced it will commence statutory consultation as part of its plan to transform and restructure its UK business. This plan is intended to reverse more than a decade of losses and transition from the legacy blast furnaces to a more sustainable, green steel business.

RBL Bank advanced 1.54% after the bank�s standalone net profit grew by 11.54% to Rs 233.09 crore on 27.37% jump in total income to Rs 3968.95 crore in Q3 FY24 over Q3 FY23.

Global Markets:

US stocks ended higher on Friday. The S&P 500 posted a record high close fuelled by a rally in chipmakers and other heavyweight technology stocks on optimism around artificial intelligence.

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