On Wednesday, the market executed a notable recovery, spearheaded by Reliance, ICICI, and HDFC Bank, collectively driving the majority of Nifty gains. The Sensex surged by 0.38%, closing at 71,657.71, and the Nifty posted a 0.34% increase, concluding at 21,618.70.
Market breadth favoured advances, maintaining an advance-decline ratio at 1:1. Reliance Industries (RIL) achieved a record high, propelling the market cap of the Reliance Group beyond Rs 20 lakh crore for the first time.
Key sectors, including Nifty Media, Nifty Metal, Nifty IT, and Nifty Energy, witnessed notable gains, while Nifty FMCG, Nifty PSU Bank, and Nifty Realty faced losses. Cipla, Adani Enterprises, and Reliance emerged as leading individual stock gainers, whereas ONGC, Divi’s Laboratories, and NTPC stood out as noteworthy losers within the Nifty 50.
In the broader market, the Nifty Midcap exhibited a rise of 0.29%, while the Nifty Smallcap experienced a marginal decline of 0.15%.
Kalyani Steels Ltd, a part of Kalyani Group, is primarily engaged in the business of manufacture and sale of Iron and Steel Products. Today the company acquired assets like land and buildings, 350,000 MTPA Steel Billet Plant including vehicles and machinery of Kamineni Steel & Power India Private Limited worth Rs 450 crore payable till April 2024. Add the stock to the watchlist.
GNA Axles is engaged in the Business of manufacturing auto components for the four-wheeler industry, primary products being Rear Axles, Shafts, Spindles & other Automobiles Components for sale in domestic and foreign markets. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 32 times. Considering these positive signals, it’s advisable to consider adding this stock to your watchlist.
Sky Gold Limited is engaged in the business of designing, manufacturing, and marketing gold jewellery. The stock was locked in an Upper circuit today of 55. Ace investor Ashish Kacholia holds a 3.09% stake in this company. Given these positive signals, keep this stock on the watchlist.
The stock of AGS Transact Technologies Ltd has once again achieved a new 52-week high of Rs 112.90 as it was continuously setting new highs for the past two trading sessions. The company is one of India’s leading Omni-channel payment solution providers. It is the second-largest company in India in terms of revenue from ATM-managed services and also the largest deployer of POS terminals at petroleum outlets in India. Keep it on your watchlist.
Atul Ltd. is a diversified and integrated Indian chemical company. Atul Products Ltd (APL), a wholly-owned subsidiary of Atul Ltd has received the required approvals /licences and commenced its operations of 300 tpd caustic and 50 MW power plant situated at Atul site. Thus, add this stock to the watchlist.
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: Jan 10, 2024, 6:11 PM IST
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