Market Commentary - Quick Review
The key domestic indices surged. Nifty FMCG, Nifty Realty and Nifty Private Bank shares rose, while Nifty PSU Bank shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, posted strong gains of 1225.07 points or 1.62% to 76,917.85. The Nifty 50 index soared 370.05 points or 1.58% to 23,810.85. In the past three trading sessions, the Nifty and Sensex surged by 3.81% and 3.73%, respectively.
The broader market failed to keep pace with frontline indices. The BSE 150 MidCap Index gained 0.84% and the BSE 250 SmallCap Index added 0.43%.
The market breadth was encouraging. On the BSE, 3060 shares advanced and 2201 shares fell. A total of 215 shares were unchanged.
HDFC Bank Ltd was the top traded stock in NIFTY50 index today, recording a quantity of 427.47 lakh shares and saw a sharp spurt of 53.73% compared to last one-week’s average daily volume. The stock is down around 0.68% in last one-month and has lost significant ground 29.48% over last one year.
Reliance Industries Ltd was the second highest traded stock in NIFTY50 index today, recording a quantity of 423.2 lakh shares and recorded a sharp increase of 52.74% compared to last one-week’s average daily volume. The stock has rallied 9.58% in last one-month and has slumped 12.44% over last one year.
6 stocks in NSE500 index hit record high today.
Index action
The Nifty FMCG index soared 3.65% to 45580.0 today. The index has soared by 2.74% in last one week and has inched lower by 1.36% over last one month. It declined sharply by 21.69% in last one year. Marico Ltd (up 10%), Britannia Industries Ltd (up 6.36%), Nestle India Ltd (up 4.47%), Tata Consumer Products Ltd (up 4.29%) and Radico Khaitan Ltd (up 3.66%) advanced.
The Nifty Realty index rose by 2.33% to 841.4 today. The index has surged by 4.12% in last one week and has eased by 2.08% over last one month. It has dropped significantly by 15.11% in last one year. Lodha Developers Ltd (up 5.78%), Prestige Estates Projects Ltd (up 3.89%), Oberoi Realty Ltd (up 2.44%), Godrej Properties Ltd (up 2.33%) and Phoenix Mills Ltd (up 1.59%) moved up.
The Nifty PSU Bank index inched down by 1.27% to 8241.1 today. The index has jumped by 3.13% in last one week and has inched higher by 4.14% over last one month. It edged higher by 0.07% in last one year. Indian Bank (down 1.80%), Punjab National Bank (down 1.70%), State Bank of India (down 1.70%), Union Bank of India (down 1.51%) and Canara Bank (down 1.38%) moved down.
The Nifty Metal index edged lower by 0.14% to 12146.15 today. The index has rallied by 3.68% in last one week and has posted modest losses of 2.68% over last one month. It is higher by 14.17% in last one year. National Aluminium Company Ltd (down 3.19%), Hindustan Copper Ltd (down 2.58%), Lloyds Metals & Energy Ltd (down 2.45%), Adani Enterprises Ltd (down 0.84%) and APL Apollo Tubes Ltd (down 0.50%) moved lower.
The Nifty Financial Services index rose for a third session in a row today. BSE Ltd (up 5.03%), HDFC Bank Ltd (up 3.64%), ICICI Bank Ltd (up 2.67%), Shriram Finance Ltd (up 2.48%) and ICICI Lombard General Insurance Company Ltd (up 2.37%) gained.