Stock Market Wrap-up: Sensex, Nifty End Flat; PSU Banks Gain, Autos Drag

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by Sandip Das on 1 January 2024,  4 min read

Stock Market Wrap-up: Sensex, Nifty End Flat; PSU Banks Gain, Autos Drag - MyDhanush Blogs by Ashika
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The Indian equity market managed to close in the green on the first day of 2024 amid volatility. At close, Sensex added 31 points and closed the session at 72,271.94 mark. Nifty gained 10 points and ended at 21741 mark.

On the sectoral front, PSU Bank and pharma indices added 0.5 percent each, while Bank Nifty shed 0.5 percent.

Around 1645 stocks advanced and 906 declined while 129 remained unchanged.

Top Nifty50 Gainers
Company Name Last Traded Price (Rs) % Change
Nestle India 27364 2.95
Adani Enterprises 2902.85 1.89
Adani Ports 1041.1 1.64
Coal India 382 1.60
Tech Mahindra 1292.7 1.58
Top Nifty50 Losers
Company Name Last Traded Price (Rs) % Change
Eicher Motors 4035 -2.62
Bharti Airtel 1012 -1.96
Mahindra & Mahindra 1702 -1.58
Bajaj Auto 6698 -1.46
Hindalco Industries 607.5 -1.20
Stocks in the news:
Yes Bank

The share price of Yes Bank rallied over 4 percent to close the session at Rs 22.45 per share on NSE. Yes Bank informed the exchanges on December 31 about the receipt of funds from a single trust. “This is with reference to our earlier disclosure pertaining to the sale of the NPA portfolio to JC Flowers ARC on December 17, 2022…. The Bank would like to inform that it has received Rs 150 crore from a single trust in the security receipts portfolio,” the lender said.

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

Vodafone Idea

The stock jumped 6 percent to close at Rs 16.95 per share on NSE after reports suggested that the promoters of the embattled telco supposedly infused equity, causing the increase in the stock price in the last two sessions.

Bajaj Auto

Bajaj Auto stock price closed at Rs 6,698 per share on NSE, down 1.46 percent after the company’s total sales in December exhibited a 16 percent growth from December 2022, according to an exchange filing. Specifically, its domestic two-wheeler segment surged by 26 percent from the same month last year, selling 1.58 lakh units. Additionally, exports of the same segment marginally increased by 3 percent to reach 1.24 lakh units in December.

Bharat Heavy Electricals (BHEL)

Media reports stated that amid reports of the engineering and manufacturing enterprise BHEL emerging as the lowest bidder for NLC’s Odisha project, outbidding L&T, BHEL’s share price gained over 2 percent. Additionally, reports indicated that BHEL has secured a Rs 19,422-crore job from NLC for a Talabira project. The stock closed at Rs 197.60 per share on NSE, up Rs 4.05 or 2.09 percent.

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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