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Sensex & Nifty recover, realty stocks shine; Berger Paints, ACC & Asian Paints touch fresh 52-week highs

Geyatee Deshpande
/ Categories: DSIJ Mindshare, DSIJ News
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Sensex & Nifty recover, realty stocks shine; Berger Paints, ACC & Asian Paints touch fresh 52-week highs

After a choppy session, Sensex ended at 40,707.31 levels today, up by 162.94 points or by 0.40 per cent. Nifty gained by 0.34 per cent or by 40.85 points to settle at 11,937.65 levels.

Led by huge profit booking seen in several stocks, the domestic benchmark indices erased morning gains and tumbled during today afternoon’s trading session. Sensex plunged by around 750 points from the day’s high of 40,976.02 levels. However, with support from banking and metal stocks, it managed to recover and close in green.

If the rumours in the markets are to be believed, the government is working on the next stimulus package, which is much-needed for the economic revival amid a decrease in Coronavirus cases.

The cement sector hopes to see a revival as big names report better quarterly results for the smaller ones to follow momentum. UltraTech Cement’s consolidated net profit more than doubled to Rs 1,234 crore in Q2FY21 compared to Rs 579 crore gained in Q2FY20. Net sales grew by a mere 1 per cent YoY to Rs 10,231 crore in Q2FY21.

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Sensex gainers included Power Grid that went up by 4.13 per cent, Bharti Airtel jumped 3.51 per cent, Tata Steel gained by 3.04 per cent, NTPC increased by 2.11 per cent, HDFC Bank rose by 1.87 per cent, etc.

Sensex losers consisted of TCS that went down by 2.30 per cent, RIL fell by 1.50 per cent, Nestle India declined by 1.46 per cent, HCL Technologies decreased by 1.06 per cent, etc.

Amongst sectoral indices on BSE, realty was the biggest gainer, up by 4.39 per cent while the energy index became the biggest loser, down by 1.01 per cent.

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