Sensex, Nifty trade volatile; Mahanagar Gas gains 14 per cent, Laurus Labs jumps 9 per cent, IIFL Finance tumbles

On Friday, the domestic markets remained volatile swinging between red and green zones. A choppy afternoon session resulted in Sensex declining by 110.02 points or 0.25 per cent to settle at 44,149.72 levels while Nifty fell by 18.05 points or 0.14 per cent to close at 12,968.95 levels.

Index draggers mostly included IT stocks and heavyweights such as RIL.

On Friday, investors remained cautious ahead of the Q2 GDP data announcement.

In today’s trading session, the shares of city gas distribution companies surged up to 19 per cent after the oil & gas regulator, Petroleum & Natural Gas Regulatory Board (PNGRB) notified regulations for a unified gas transmission tariff structure.

The restaurant chain, Burger King India will launch its initial public offering (IPO) for subscription on December 2, 2020, and would close on December 4, 2020, at a price band fixed at Rs 59-Rs 60 per share. This is 5.9-6 times its face value of equity shares. It consists of a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter- QSR Asia Pte Ltd, aggregating to Rs 360 crore.

On Monday, the Indian markets have a holiday on the occasion of Guru Nanak Jayanti while the next week awaits some key events such as November auto sales, November PMI data, and RBI interest rate decision.

Sensex gainers included Asian Paints that went up by 2.85 per cent, Titan Company jumped 2.32 per cent, Tech Mahindra rose by 2.20 per cent, Tata Steel gained by 1.57 per cent, Bajaj Finance increased by 1.56 per cent, Bajaj Auto strengthened by 1.36 per cent, HDFC Bank rose by 1 per cent, etc.

Sensex draggers consisted of Power Grid that went down by 2.63 per cent, HCL Technologies plunged 2.39 per cent, ONGC decreased by 2.12 per cent, Axis Bank fell by 1.75 per cent, TCS declined by 1.53 per cent, Mahindra & Mahindra weakened by 1.23 per cent, RIL fell by 1.23 per cent, etc.   

Amongst sectoral indices on BSE, the Realty index was the biggest gainer, up by 2.74 per cent while the Energy index was the biggest loser, down by 1.06 per cent. Broader markets outperformed as BSE Small-Cap index rose by 2.40 per cent while BSE Mid-Cap index gained by 1.91 per cent.