Indian indices ended on a flat note with selling seen in financial, infra sectors, along with Reliance Industries.
Nifty rose by 0.10% or 10.85 points and closed at 10,618.20, while S&P BSE Sensex went up by 0.05% or 18.75 points and closed at 36,051.81.
Around 1083 shares advanced, 1503 shares declined, while 156 shares remained unchanged.
Wipro (16.89%), Infosys (6.47%), HCL Tech (4.67%), Tech Mahindra (2.79%), and TCS (2.72%) were among top Nifty gainers, while Reliance Industries (3.89%), Bharti Airtel (3.62%), Zee Entertainment (2.95%), GAIL (2.07%), and Bharti Infratel (2.04%) were among top Nifty losers.
IT, Pharma, FMCG, and Auto stocks witnessed buying while infra and PSU banks traded lower. BSE Midcap and BSE Smallcap ended marginally lower.
In its 43rd AGM, Reliance Industries Limited announced the delay in the progress of the deal with Saudi Aramco due to the rising COVID-19 uncertainties. Also RIL’s Jio partnered with Google for building a new smartphone operating system in India. Google will invest Rs. 33,737 crore for a stake of 7.7% in Reliance’s Jio Platform. The AGM also witnessed the announcement of the launch of 5G spectrum and Jio Glass. Stocks of the company however, went down by 3.89% and traded at Rs.1842.35.
Dr.Lal Path Labs
Stocks of Dr.Lal Path Labs gained 2 percent in intraday hitting a fresh record high of Rs.1935. The stock finally gained 0.25% and traded at Rs.1898.00 despite the rising COVID-19 cases in the country.
Stocks of Cadila Healthcare rose marginally by 0.34% and traded at Rs. 355.00 per share after the firm received final approval to market Betamethasone Dipropionate Ointment USP, 0.05% that is used to treat a variety of skin conditions from the USFDA.
Hit by the COVID-19 lockdown the company announced that it expects a sequential decline of 5% in its profits for the June quarter. Despite this, the stocks of the company went up by 6.47% and traded at Rs.833.95 in today’s trading session.
Stocks of Wipro Limited went up by 16.89% and traded at Rs.263.00 despite a fall of 7.5% in its revenue during the June quarter. The company recorded a strong operating margin of 19% and is hoping to hold its margins for the next few quarters.
Steel Strips Wheels Limited
The company bagged new orders for the Mobile Home market from the US to manufacture around 8200 wheels in its Chennai plant. The order is to be executed by the month of August, However, stocks of the company went down by 0.58% and traded at Rs. 435.00.
Indian rupee ended higher at Rs.75.14 against the US Dollar as buying was witnessed in the domestic equity markets.
Global Markets Trade Positive
Global Markets including both the Asian and the European market traded positive on account of rising hopes about the coronavirus vaccine. Nasdaq went up by 0.94%, FTSE MIB went up by 2.02%, FTSE 100 rose by 1.79%, Nikkei 225 rose by 1.59%, while Hang Seng went up by 0.01%.