Category : Market Commentary
Headline : Mid Session- Indices trade higher; APSEZ rallies 8%
Date and Time : Sep-23-2019 12:33

The Indian benchmark indices continue to trade in the positive zone in the afternoon session on Monday. Sectoral indices are trading on a mixed note with FMCG trading more than 5 per cent higher and IT trading around 3 per cent lower.

In individual stocks, the shares of Adani Ports and Special Economic Zone (APSEZ) rallied over 8 per cent on September 23 amid reports that the committee of creditors has backed the resolution plan offered by the company to buy the debt-laden Dighi Port under the bankruptcy and insolvency law.

At 12:23 hours, the SENSEX was trading at 39245.74 up by 1231.12 points or by 3.24 per cent and then NSE Nifty was at 11636.55 up by 362.35 points or by 3.21 per cent. The BSE Sensex touched intraday high of 39346.01 and intraday low of 38674.04 The NSE Nifty touched intraday high of 11666.35 and intraday low of 11471.35.

The top gainers of the BSE Sensex were Larsen & Toubro Ltd. (Rs. 1544.40,+9.31%), Asian Paints Ltd. (Rs. 1813.00,+8.41%), ITC Ltd. (Rs. 258.00,+8.34%), Bajaj Finance Ltd. (Rs. 4010.35,+8.22%), IndusInd Bank Ltd. (Rs. 1527.50,+7.60%), among others.

The top losers of the BSE Sensex were Infosys Ltd. (Rs. 772.05,-4.11%), Tata Consultancy Services Ltd. (Rs. 2000.20,-3.17%), Tata Motors Ltd. (Rs. 130.20,-2.40%), NTPC Ltd. (Rs. 117.75,-1.79%), Mahindra & Mahindra Ltd. (Rs. 688.45,-1.79%), among others.

Among sectors, FMCG index was at 11948.26 up by 657.91 points or by 5.83%. Procter & Gamble Hygiene & Healthcare Ltd. (Rs. 11980.00,+9.86%), Parag Milk Foods Ltd. (Rs. 168.50,+8.78%), Britannia Industries Ltd. (Rs. 3113.10,+8.59%), ITC Ltd. (Rs. 258.00,+8.34%), United Breweries Ltd. (Rs. 1375.15,+7.80%),.

On the flip side, IT index was at 15093.14 down by -486.17 points or by -3.12%. Infosys Ltd. (Rs. 772.05,-4.11%), Oracle Financial Services Software Ltd. (Rs. 3050.95,-3.49%), MosChip Technologies Ltd. (Rs. 13.91,-3.47%), Rolta India Ltd. (Rs. 5.66,-3.41%), Tata Consultancy Services Ltd. (Rs. 2000.20,-3.17%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2647 , shares advanced were 1646 while 835 shares declined and 166 were unchanged.