SSPL WEALTH PVT LTD

Mid - Session

Market behaviours during the course of the trading session.

Nifty hovers above 15,000 mark; banks extend gains

25-Feb-21 10:27 Hrs IST

Equity indices were trading sideways with strong gains in morning trade. The Nifty traded firm above the 15,100 mark. Strength in banks, IT and metal stocks boosted the indices.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 433.53 points or 0.85% at 51,215.36. The Nifty 50 index gained 147.1 points or 0.98% at 15,129.10.

In broader market, the S&P BSE Mid-Cap index was up 0.93% while the S&P BSE Small-Cap index was surged 0.95%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1656 shares rose and 807 shares fell. A total of 132 shares were unchanged.

The February 2021 F&O contracts will expire today, 25 February 2021. Trading could get volatile as the session progresses as traders roll over positions in the F&O segment from the near month February series to March series.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 112,534,393 with 2,497,023 deaths. India reported 151,708 active cases of COVID-19 infection and 156,705 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

New Listing:

Shares of Nureca hit an upper circuit of 5% at Rs 666.65 at 10:17 IST on the BSE, a premium of 66.66% over the initial public offer (IPO) price of Rs 400. The stock was listed at Rs 634.95, a premium of 58.7% to IPO price. So far the stock hit a high of Rs 666.65 and low of Rs 603.25. On the BSE, 78 lakh shares were traded on the counter so far. The IPO of Nureca received bids for 5.59 crore shares as against 14.01 lakh shares on offer, according to the stock exchange data. The issue was subscribed 39.93 times.

Buzzing Index:

The Nifty Bank index was up 1.7% to 37,073.4, extending its winning run to second trading session. The index has jumped 5.57% in two trading sessions after the government on Wednesday lifted embargo on grant of government businesses to private banks.

Axis Bank (up 3.4%), Bandhan Bank (up 3.22%), Federal Bank (up 3.13%), IndusInd Bank (up 3.07%), RBL Bank (up 2.7%), Kotak Mahindra Bank (up 1.99%) and IDFC First Bank (up 1.57%) were top gainers in Bank Nifty.

Stocks in Spotlight:

Ashok Leyland rose 0.79%. The commercial vehicles maker on Thursday announced that it will acquire 38% stake in Hinduja Tech (HTL) from Nissan International Holding BV. Consequently, HTL will become a wholly-owned subsidiary of Ashok Leyland. HTL is engaged in the business of IT & ITeS. HTL had a consolidated revenue of Rs 226 crore and profit after tax of Rs 15.95 crore as on 31 March 2020.

Angel Broking rose 1.54% to Rs 328.85 after the stock broker said it has partnered with Vested Finance to allow domestic investors to invest in US‐based stocks. The tie up will make investments in US-stocks and ETFs easy at the touch of a button.