Stock Market Updates: Sensex, Nifty Rise; Nestle, NTPC Top Gainers

_{Sandip Das}

The Indian equity market after declining in the initial part of the trading session on December 19 has managed to recover. At 12:35 PM, Sensex was up 157 points at 71469 mark. Nifty added 40 points and was trading at 21,458.65 level.

Among the sectors, the FMCG index gained over 1 percent led by Nestle India which jumped over 4 percent followed by Varun Beverages which added over 2 percent. The other gainers included Tata Consumer Products, Godrej Consumer Products and Colgate Palmolive.

Buying was also witnessed in the PSU banking space. The top gainers included Indian Overseas Bank and Central Bank of India which gained over 2 percent. These were followed by Indian Bank, State Bank of India and Canara Bank.

Also Read: Top 2 stocks by Ashika Research which can return up to 19%

However, selling pressure was seen in the IT sector with the top losers being L&T Technology, Coforge and Persistent Systems which shed 2-3 percent each followed by Wipro, HCL Tech and TCS.

Selling was also witnessed in the auto space. The top losers included Tube Investments of India, TVS Motor Company, Hero MotoCorp and Eicher Motors among others.

Top Nifty50 Gainers:

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Top Nifty50 Losers:

Stocks in the news:

Zee Entertainment Enterprises: Sony Pictures Networks India’s statement caused the stock price to drop by over 3 percent. The company said that ZEE’s notice to exchanges acknowledges the inability to meet the merger’s December 21, 2023 deadline.

SpiceJet: SpiceJet’s share price surged by 4 percent following the company’s confirmation of its interest in bidding for the bankrupt Go Airlines (India) Ltd.

Devyani International: The company’s stock soared by over 5 percent subsequent to its announcement of a partnership to enter Thailand’s quick service restaurant market.

_{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.}