Stock Market Updates: Sensex, Nifty Edge Higher Led by Auto, Oil & Gas; Metals Under Pressure
by Sandip Das on 20 March 2024, 5 min read
The Indian stock market edged higher in the afternoon session on March 20, 2024, following positive global cues. At 1:04 PM, Sensex was up 210 points at 72,220.56 while Nifty added 53 points and was trading at 21,871.05.
Around 1,589 stocks advanced and 2,084 declined while 109 stocks remained unchanged.
Among the sectors, buying was seen in the Auto, oil & gas, IT, and PSU Banking space. On the other hand, selling was witnessed in metal and pharma names.
Top Nifty50 Gainers
| Company Name | Last Traded Price (Rs) | % Change |
| Eicher Motors | 3872 | 4.17 |
| Maruti Suzuki | 12012 | 3.58 |
| Nestle India | 2549.25 | 2.13 |
| Power Grid | 264.3 | 2.05 |
| Bajaj Finance | 6721.55 | 1.90 |
Top Nifty50 Losers
| Company Name | Last Traded Price (Rs) | % Change |
| Tata Consumer | 1122 | -2.12 |
| Tata Steel | 145.8 | -1.98 |
| Hindalco Industries | 525.3 | -1.56 |
| UPL | 456.05 | -1.08 |
| Tata Motors | 947.75 | -1.04 |
Stocks in Action
Aurobindo Pharma: up 2%
The share price of Aurobindo Pharma edged higher after the company received US FDA approval for the Mometasone Furoate Monohydrate Nasal Spray.
“Aurobindo Pharma Limited is pleased to announce that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Mometasone Furoate Monohydrate Nasal Spray, 50 mcg/spray, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Nasonex Nasal Spray, 50 mcg/spray of Organon LLC,” the company said in a BSE filing.
Also read: Domino’s, Subway supplier Chatha Foods IPO: Top Things to Know Before Subscribing to The Issue
IREDA: down 1%
The NSE revoked IREDA’s inclusion in several key indices because the firm did not comply with SEBI portfolio concentration norms. “As IREDA breached one of the requirements of SEBI Portfolio Concentration Norms for Equity Exchange Traded Funds (ETFs) and Index Funds related to impact cost, the committee has decided to revoke its earlier decision to include IREDA announced on February 28, 2024,” said the NSE in a press release.
Disclaimer: The information provided in this blog post is for informational 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.
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