INDIAN EQUITY MARKET RECOVERED FROM MONDAYS LOSS,ENDED HIGHER FOR THE SECOND DAY

Market showed a positive sign in today’s session led by strong gains in IT, FMCG and PSU banks. Mid and small-caps outperformed large-caps. Net selling of FII/FPI was at Rs.536.13 crore while Net buying of DII stood at Rs. 1326.92 crore. The Sensex jumped 437.49 points or 0.95 percent to 46,444.18 levels with shares of HUL, Infosys, Mahindra & Mahindra, SBI,ITC, IndusInd Bank ,Bajaj Finance ,Asian Paints were the top gainers with a gain of 2.67%, 2.64%, 2.35%, 2.14%, 2.14%, 1.91%, 1.48%, 1.46% respectively while shares of Titan, Powergrid, NTPC, HDFC were the losers with a loss of 0.81%, 0.37%, 0.35%, 0.02% respectively. The Nifty fifty ended 134.80 points or 1.00 percent higher at 13,601.10 levels with 42 stocks were in advance and 8 stocks were in decline. All the sectors were in green. Realty, Media, IT, FMCG, Metal, Pharma Indexes were the topmost gainers with having a gain of 3.94%, 3.27%, 2.36%, 1.91%, 1.77%, 1.61% respectively.

TOP STOCKS IN NEWSCAST:

Infosys rose over 2% as it has won a long-term contract from German automotive major Daimler to drive hybrid-cloud powered innovation and IT infrastructure transformation. Infosys will help Daimler upgrade its IT operating model and infrastructure across workplace services, service desk, data centre, networks and SAP (systems applications and products).

Mahindra & Mahindra rose over 2% as the company is all set to unveil the new XUV500 that is expected to go on sale sometime around April 2021. The new SUV will be longer, wider and be built on a stiffer monocoque platform.

SBI surged 2% on today’s session as the bank is offering trade finance solutions and services to Israeli corporates to help them tap business potential arising out of recent Abraham accords leading to normalisation of ties between Israel and Arab states.