28 out of 30 Sensex traded in the green. ONGC, Axis Bank, NTPC, Bharti Airtel & IndusInd Bank were trading with gains of up to 3%.
Nomura believes that the bank will have to slow down its growth, given the uncertain environment, and will need to demonstrate stable asset quality before the current rich valuations can be justified
Barring Nifty PSU Bank all other sectoral indices ended in the red. Nifty PSU Bank ended with gains of around 3.5%
India’s sugar sector has drifted away from cyclicality and is now in a structural shift due to ethanol blending
HDFC Securities has made a list of 20 better known mid and smallcap stocks that have gained more than 20% in this period with 17 out of these 20 stocks belonging to the chemicals/pharma space
Axis Bank, SBI, ONGC, Bajaj Finance & ICICI Bank were the top gainers on the Sensex up around 1.5%.
Value of New Business (VoNB) rose 16% to Rs 2330 crore in FY21 from Rs 2010 crore in FY20.
Nifty closed at 14,634 levels, up 3 points or 0.02%, after hitting an intra-day high of 14,673 and a low of 14,416.
In late noon trade, indices rebounded sharply as Sensex was up 39 points to 48,821 while the Nifty was at 14,659 rising 28 points.
Recovery in downstream cyclical margin and continued strong performance from consumer-centric business have led to most analysts being upbeat about the stock