Stock Market News Today: GIFT Nifty Indicates a Positive Start for Indian Indices; RIL, HUL, ICICI Bank in Focus
by Sandip Das on 20 January 2024, 5 min read
The Indian stock market ended the session on January 19, 2024, on a positive note snapping the 3-day losing streak. At close, Sensex jumped 541 points at 71728 while Nifty gained 160 points and ended the session at 21622 level.
Around 1690 stocks advanced and 832 declined while 98 stocks remained unchanged.
All sectoral indices ended in the green with auto, capital goods, Information Technology, FMCG, metal, oil & gas and power up 1-2 percent each.
Trends on the GIFT Nifty index indicates a positive start for Indian stock market with a gain of 24 points.
Tech shares helped power the S&P 500 to its first record high close in two years on Friday to confirm a bull market, while European stocks registered weekly declines amid fading expectations for central bank interest rate cuts.
The Dow Jones Industrial Average rose 394.99 points, or 1.05%, to 37,863.6. The S&P 500 gained 58.86 points, or 1.23%, to 4,839.8. The Nasdaq Composite added 255.32 points, or 1.7%, to 15,310.97, according to a Reuters report.
ICICI Bank, Kotak Mahindra Bank, Union Bank of India, IDBI Bank, IDFC First Bank, Indian Renewable Energy Development Agency, Persistent Systems, Aarti Surfactants, Can Fin Homes, Jammu & Kashmir Bank, JK Cement, LKP Securities, Rossari Biotech, Seshasayee Paper & Boards, Sportking India, Tatva Chintan Pharma Chem, and Waaree Renewable Technologies.
Stocks in the news
Lupin: The company has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Febuxostat tablets to launch in the US.
REC: The Ministry of New and Renewable Energy, Government of India (MNRE) has designated REC as the overall program implementation agency for the rooftop solar (RTS) program of the Ministry.
Shalby: The firm has acquired an 87.26 percent stake in Sanar International Hospitals, Gurugram (PK Healthcare) for Rs 102 crore. This equity stake will be acquired within a period of one month through primary infusions and secondary buy-outs. Its current capacity of 130 beds can be increased to 180 beds by adding capacity.
Supreme Petrochem: The company will invest Rs 800 crore to establish a plant for the manufacture of polystyrene, expandable polystyrene, and styrenic derivatives in Kamal, Haryana.
Hindustan Unilever: The FMCG major has entered into transaction documents for the acquisition of a 27.73 percent stake in the SPV (special purpose vehicle) Transition Sustainable Energy Services One. On December 1, last year, the board approved the proposal to enter into an agreement for the acquisition of renewable power by acquiring a stake in Transition Sustainable Energy Services One.
Power Finance Corporation: The company has incorporated two special purpose vehicles (KPS III HVDC Transmission Limited, and Barmer I Transmission Limited) for development of Transmission System for evacuation of power from potential renewable energy areas in Rajasthan and Gujarat.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 3,689.68 crore in the Indian stock market. Domestic institutional investors (DIIs) bought Rs 2,638.46 crore worth of stocks on January 19.
Indian Energy Exchange: Indus India Fund (Mauritius) Limited sold 50,17,900 shares at Rs. 138.08
Grasim Industries: Citibank Na sold 2,87,500 shares at Rs. 310.89
Stock under F&O ban on NSE
A total of 11 stocks are in the F&O ban list for January 20. The NSE has added Oracle Financial Services Software, and RBL Bank to the said list.
Disclaimer: The information provided in this blog post is for educational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions. Investments in securities market are subject to market risks, read all the related documents carefully before investing.
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