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Sensex recovers from day’s low; Adani Transmission jumps 11 per cent, Vakrangee locks in at upper circuit

Geyatee Deshpande
/ Categories: Mindshare, DSIJ News
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Sensex recovers from day’s low; Adani Transmission jumps 11 per cent, Vakrangee locks in at upper circuit

Concluding today’s volatile trading session, Sensex recovered by 448 points from its today’s low of 44,169 levels to close at 44,618.04 levels down, by a mere 0.08 per cent or 37.40 points compared to its previous close. On the other hand, Nifty closed in green, up by 0.04 per cent or 4.70 points at 13,113.75 levels.

On Wednesday, gains in auto & metal stocks were capped by losses in financial and banking stocks.

The IPO of Burger King has been subscribed 97 per cent so far on the first day of the bidding process with the portion reserved for retail investors being oversubscribed by 3 times on day 1, while the portion set aside for non-institutional investors is subscribed by 2.8 per cent. Qualified institutional investors are yet to put in their bids.

Bharti Airtel reported buying an additional 4.9 per cent stake in Bharti Infratel via block deals under the creeping acquisition norms.

In the global markets, Hang Seng declined by 0.13 per cent while KOSPI was up by 1.58 per cent. Shanghai index fell by 0.074 per cent and Nikkei gained by 0.05 per cent. In the European markets, FTSE 100 was trading higher by 0.13 per cent while DAX and CAC 40 were down by 0.40 per cent and 0.25 per cent, respectively.

Gold prices seemed to be steady as investors remain concerned over the US stimulus package and the UK's approval of the Pfizer COVID-19 vaccine, which came in as positive news. On the other hand, silver prices rallied on strong manufacturing PMI data from all over the world.

Sensex gainers included ONGC that went up by 4.11 per cent, Asian Paints surged by 3.74 per cent, Titan Company jumped 3.48 per cent, Tata Steel gained by 3.19 per cent, Bajaj Auto increased by 2.86 per cent, Mahindra & Mahindra rose by 2.53 per cent, Maruti Suzuki gained by 1.47 per cent, etc.

Sensex losers consisted of Kotak Mahindra that went down by 3.28 per cent, HDFC Bank plunged by 1.86 per cent, HDFC fell by 1.28 per cent, ICICI Bank declined by 0.99 per cent, Nestle India decreased by 0.87 per cent, Bajaj Finance fell by 0.72 per cent, etc.

Amongst sectoral indices on BSE, the Realty index jumped by 3.05 per cent, the Metal index gained by 2.55 per cent while the Consumer Durables index was up by 2 per cent. Bankex fell by 1.29 per cent. FMCG index and IT index were up by a mere 0.27 per cent and 0.69 per cent, respectively. BSE Mid-Cap index rose by 0.55 per cent and BSE Small-Cap index closed up by 0.68 per cent.

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