Sensex, Nifty today: Sugar stocks advance; Paytm, Sobha shares rally

Posted on by

BSE Sensex closed at 76,810.90, higher by 204.33 pts, or 0.27 per cent, and Nifty 50 ended at 23,398.90, up by 75.95 pts or 0.33 per cent on Thursday’s trade.

Among the sectoral indices, media, FMCG and bank indices declined. Nifty realty was up 2.24 per cent to close at 1,119.90, Nifty consumer durables was at 37,529.90 (up by 1.73 per cent), and Nifty IT was at 34,902.05 (up by 1.03 per cent).

Shrikant Chouhan, Head Equity Research, Kotak Securities, said, “Technically, after a gap up opening, one more time the market witnessed selling pressure at higher levels. However, the short-term texture of the market is still in to the positive side.”

Ajit Mishra, SVP, Research, Religare Broking Ltd, said, “We are seeing a time-wise correction in the Nifty index, with indications suggesting the current trend will continue. We reiterate our recommendation to focus on stock-specific trading, particularly in themes such as agriculture-related, sugar, chemicals, and select defense stocks for long positions.”

Stocks to watch

The major gainers in the Nifty 50 pack were Shriram Finance, M&M,HDFC Life Insurance, Divi’s Laboratories, and Titan. Shares of Hindustan Unilever, Eicher Motors, Axis Bank, Power Grid and Britannia emerged as top laggards. 

A total of 3,984 stocks were traded on the BSE of which 2,356 advanced, 1,532 declined and 96 remained unchanged. 295 stocks hit a 52-week high, while 16 hit a 52-week low. In addition, 375 stocks have hit the upper circuit and 169 hit the lower circuit.

The major stocks that hit a 52-week high on the NSE include Bharat Rasayan (20%), Bajaj Hindustan Sugar (14.70%), GRSE (14.55%), Andhra Sugar (9.47%), and K M Sugar Mills (8.51%). Various other sugar stocks also advanced.

Paytm stock jumped 7.55 per cent to close at ₹432.90 on the NSE.

Sobha stock closed at ₹2,165 on the NSE, higher by 4.97 per cent.