Today, the Nifty index started the day without much change at 21,434.8 and maintained that level throughout the day. The Nifty50, which represents the top 50 stocks on the National Stock Exchange (NSE), formed a Red Doji candle with a small body and wicks on both sides. This suggests that there was uncertainty in the market after two consecutive days of gains, totalling 1.64%. The Nifty closed at 21,418.65, showing a slight decrease of 0.18% from yesterday’s closing.
In terms of sectors, the Media and Pharma sectors experienced significant buying activity, while the Realty and FMCG sectors saw a notable sell-off.
Looking at broader market indices, the Nifty Smallcap 100 performed better than the overall market, closing up by 0.56%. The Nifty Midcap 100, similar to the Nifty50 in its candlestick pattern, closed in positive territory, up by 0.22%.
Established in 1943, Sukhjit Starch & Chemicals Ltd, an agro-processing industry, produces starch and its derivatives. Today, the company revealed plans to declare dividends, causing a notable surge in shares volume, exceeding 32 times its weekly average. Consider adding this stock to your watchlist for potential developments.
Essar Shipping’s stock has consistently hit upper circuits, yielding a remarkable 31% return in just 4 trading sessions. The company focuses on fleet operations, chartering, and various business verticals such as oilfields and logistics services. Given its recent performance, investors are advised to consider including this stock in their watchlist for potential opportunities.
Geojit Financial Services Limited provides a range of financial services, including online broking, product distribution, portfolio management, and margin funding. Today, the stock surged over 12%, hitting a new 52-week high of Rs 84, signalling a bullish trend. This performance positions it as a potential candidate for inclusion in the watchlist.
India Glycols Ltd. manufactures eco-friendly chemicals, natural gums, spirits, and more. The company has secured contracts to supply 16.55 crore litres of ethanol, worth around Rs. 1,164 Crores, for the Ethanol Blended Petrol Programme from November 1, 2023, to October 31, 2024. This highlights the company’s strong presence in the ethanol supply market.
Supreme Petrochem Ltd (SPL), a petrochemical company, has announced a Shareholder Agreement and Share Purchase Agreement with Tata Power Renewable Energy Ltd. (TPREL) for solar energy supply. The acquisition involves tying up with TPREL to obtain green/solar energy for SPL’s plant in Amdoshi, Maharashtra, through the specially formed TP Saturn Limited SPV.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 18, 2023, 5:51 PM IST
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