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Small, midcaps in favour today
Fri, 31 Dec 01:30 pm

Persistent buying activity led the Indian markets to remain firm above the dotted line during the previous hour of trade. Stocks from the realty, banking and consumer durables sectors are leading the pack of gainers at the moment, while those from the IT sector are the sole losers. FMCG and healthcare stocks are amongst the other key underperformers.

The BSE-Sensex is trading higher by 120 points while the NSE-Nifty is up by about 30 points. The BSE Midcap is up by 1.1%, while the BSE Small cap Index is trading higher by 1.3%. The rupee is trading at 44.82 to the US dollar.

Fertilizer stocks are trading in the green with Chambal Fertilizer, Godavari Fertilizer and Madras Fertilizers leading the pack of gainers. Rallis India, a subsidiary of Tata Chemicals, has completed the acquisition of a seeds research firm Metahelix Life Sciences for an all-cash deal of Rs 1 bn. With the acquisition of a majority stake of 53.5% in the Bangalore-based firm, Rallis has become its holding company. The acquisition was aimed at bringing in significant capabilities in seeds segment. The all-cash deal was funded largely through internal accruals. Rallis plans to enhance its stake in the firm up to 100% in five years. Rallis would subscribe to an additional equity of Rs 250 m to take its stake to 59.02% on a fully-diluted basis.

Pharma stocks are currently trading firm Orchid Chemicals, Sterling Biotech, Dishman Pharma. The stock of Sun Pharma has managed to find favour today. This is seemingly on the back of the company receiving a tentative approval from the US FDA (Food and Drug Administration) for a generic version of Roche's Boniva. This drug is believed to be used for the treatment of osteoporosis in postmenopausal women. Considering that this drug has annual sales of US$ 70 m (approximately Rs 3.2 bn) this is a positive development for the company as it throws up bigger opportunities in the US market for the company.

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Stock Market Updates

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).

ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

Sensex Crashes 1,800 Points; Nifty Trades Below 14,700 Mark (Today's Market)

Feb 26, 2021 02:30 pm

The BSE Sensex is trading down by 1,464 points, while the NSE Nifty is trading down by 423 points.

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