Stock Market Updates: Sensex, Nifty Trade Flat Amid Volatility; Pharma Drags


by Sandip Das on 5 January 2024,  5 min read

Stock Market Updates: Sensex, Nifty Trade Flat Amid Volatility; Pharma Drags - MyDhanush Blogs by Ashika

The Indian equity market was trading in the green amid volatility. At 12:15 PM, Sensex gained 94 points at the 71939 mark while Nifty added 39 points and was trading at the 21698 level.

Around 1434 stocks advanced and 1031 declined while 92 stocks remained unchanged.

Among the sectors, buying was seen in IT and Realty indices which gained 1 percent each followed by Auto and Metal indices which were up half a percent each.

Also read: Top 2 Buy Ideas for New Year 2024 Which Can Fetch Up To 15% Return

However, selling was witnessed in the pharma space. The top losers were Sun Pharma, Torrent Pharma, Cipla, and Lupin which shed 0.5-1 percent each.

Top Nifty50 Gainers:
Company Name Last Traded Price (Rs) % Change
Adani Ports 1157.95 3.09
LTI Mindtree 5966.95 1.71
Adani Enterprises 3046.15 1.60
Hero MotoCorp 4007.15 1.53
Wipro 459.25 1.51
Top Nifty50 Losers:
Company Name Last Traded Price (Rs) % Change
Britannia Industries 5266.25 -1.77
Nestle India 2673 -1.43
Sun Pharma 1295.8 -1.31
HDFC Bank 1673.05 -1.05
Cipla 1286.1 -0.81
Stocks in the news:
HDFC Bank: down 1.05%

The bank reported its update for the October-December quarter of the current fiscal year. The lender’s gross advances for the quarter ended December surged 62.4 percent to Rs 24.69 lakh crore on-year.

On a sequential basis, the private lender’s gross advances gained around 4.9 percent from Rs 23.55 lakh crore. “Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7 percent over December 31, 2022, and around 3.8 percent over September 30, 2023,” HDFC Bank said.

Sobha: down 1.8%

The share price of Sobha was trading in the red amid profit booking. The real estate company reported its highest-ever quarterly sales in the October-December period.

Sobha’s sales climbed 56.2 percent YoY to Rs 1,735 crore in the December quarter, the company said. Average price realization improved to Rs 11,732 a square foot, supported by the launch of the Sobha Neopolis project.

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 decisions.

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