The Indian equity benchmarks ended higher Thursday led by gains in metals and IT stocks. The Sensex ended 123.07 points or 0.23 percent higher at 54,492.84, while the Nifty gained 35.80 poins, or 0.22 percent, to close at 16,294.60.
Broader markets underperformed the benchmarks as the Nifty Smallcap100 index fell over half a percent, while Nifty Midcap closed flat.
Among sectors, buying was seen in metals, IT and FMCG indices, while Nifty PSU Bank, Nifty Financial Services, Nift Media and Nifty Realty indices fell the most.
"Despite witnessing consolidation in the opening session, large caps managed to continue trading at record high levels with the support from IT, Metal and FMCG stocks. Banking stocks continued to be under pressure ahead of the RBI’s policy announcement. Importantly, the broad market has started to underperform. Investors should be cautious in the short-term regarding," said Vinod Nair, Head of Research, Geojit Financial Services.
Here are key stocks that moved the most today:
The share price of Reliance Industries (RIL) ended 1 .4 percent higher after the company said it will double its polyethylene terephthalate (PET) recycling capacity to 5 billion by setting up a facility in Andhra Pradesh. Srichakra Ecotex India Pvt Ltd will exclusively build and operate the new recycled PSF–Recron GreenGold and PET flakes wash-line in Andhra Pradesh.
State Bank of India’s (SBI) share price ended over 3.3 percent lower, a day after the state-run largest lender reported its June quarter earnings.
Bharti Airtel shares jumped 4.3 percent to close at Rs 598.90 apiece on the BSE. The stock made an intraday high of Rs 619.20. The company had reported a net profit of Rs 283.5 crore over revenue of Rs 26,854 crore for the quarter ended June 30.
The share price of Vodafone-Idea (Vi) continued to lose ground for the third straight session, falling nearly 15 percent in the opening trade. The stock hit a fresh 52-week low to Rs 4.55 per share. The decline in the share price continued as Kumar Mangalam Birla stepped down as the Non-Executive Chairman and Director of the board of Vodafone-Idea on Wednesday.
However, the stock recovered and ended 1.49 percent lower at Rs 5.94 apiece.
Hikal shares ended 11.17 percent higher after the company's Q1FY22 net profit jumped to Rs 50.5 crore from Rs 15 crore and revenue increased 29.5% percent to Rs 456.8 crore from Rs 352.8 crore, YoY.
EBITDA was up 82.3% percent at Rs 95.7 crore versus Rs 52.5 crore, while EBITDA margin improved to 21 percent as against 14.9 percent, YoY.
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First Published: IST