Nifty closes above 8930, Sensex up nearly 20 points, Alembic Pharma gains over 6%

Nifty closed at 8934 levels, up by 7 points or 0.08%. Sensex closed at 28946 levels, up by 17 points or 0.06%.
 
There were 614 advances, 998 declines and 311 unchanged stocks on NSE, reflecting bearish undertone floating in the market.
 
Bosch Limited was the top Nifty gainer whereas, Tech Mahindra was the top Nifty loser in Friday’s trading session.
 
The BSE Mid-cap Index closed down 0.3% at 13353 whereas, BSE Small-cap Index closed down 0.2% at 13588.
IT stocks were rallying on bourses, Infosys alone contributing almost 80% to the BSE IT index gains. Infosys closed at Rs 1021 per share up by Rs 9 per share or 0.9%
 
Alembic Pharma rallied on bourses and gained over 6% on Friday. The stock clos trading at Rs 623 per share up by Rs 21 or 3.6%.
 
Career Point during Friday’s trade gained over 6% and the stock closed trading at Rs 111 per share up by Rs 0.1 per share or 0.1%.

Live Stock Market Updates: Nifty shy of 8950; India Home Loans gains 6%

The board of DCB Bank recently approved fund raising plan by up to Rs 400 through the route of issuing equity shares to Qualified Institutional Buyers (QIBs). The stock traded on its fresh 52-week high of Rs 163.9 per share on Friday.

India Home Loan gains nearly 6% after the announcement of signing of MoU with Surat Urban Development Authority (SUDA).

Career Point spikes over 6% after the announcement of signing of agreement with Ministry of Social Justice and Empowerment (MSJE).

There are 843 advances, 709 declines and 370 unchanged stocks on NSE reflecting some positive bias floating in the market.

At 1 PM, the S&P BSE Sensex is trading at 28982 up 53 points, while NSE Nifty is trading at 8941 up 14 points. A total of 28 stocks registered a fresh 52-week high in trade today, while 23 stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading flat at 13405, while BSE Small-cap Index is trading up 0.4% at 13672.

Some buying activity is seen in Information Technology, Auto and Telecom while Oil & Gas, Energy, FMCG, Healthcare are showing weakness on BSE.

Ultratech Cement, Hero MotoCorp, LT, Infosys and Tata Power are among the gainers, whereas Power Grid, Grasim, Hindalco and Tech Mahindra are losing sheen on NSE.

The INDIA VIX is down 4.2% at 13.8.

Opening Bell - Nifty opens above 8950; Kotak Bank top Nifty gainer

At 9:15 AM, the BSE Sensex opened higher by 77 points at 29006, while the Nifty50 opened higher by 26 points at the 8953 mark.
 
Kotak Mahindra Bank is the top Nifty gainer and ONGC is the top Nifty loser on Friday. Kotak Mahindra Bank is trading at Rs 189.3 per share, up by 1.2%. ONGC is trading at Rs 189.3 per share, down by 0.2%.
 
There are 905 advances, 451 declines and 429 unchanged stocks on NSE reflecting strong positive bias floating in the market.
 
Sugar stocks are buzzing in the morning hours on Friday. Rajashree Sugars is up by 3.3%, Rana Sugars is up by 3.3%, DCM Shriram Industries is up by 6%.
 
If Nifty50 sustains below the level of 8,890, it may correct up to the level of 8,860 and if the support of 8,860 level is breached, expect it to test the level of 8,800.
 
On the upside, Nifty50 has multiple resistances in the range of 8,980-9,000. If Nifty50 holds above 9,000 level, it would attempt to move towards the level of 9,119.
 
The rupee opened at 66.69 per dollar higher by 2 paise. 
The US stocks finished marginally higher on Thursday. The Dow Jones Industrial Average advanced 2 points to end at 20,858. The S&P 500 index gained 2 points to close at 2,365. The Nasdaq Composite rose 1 point to finish at 5,839.
 
The Asian stock markets are trading higher on Friday. Japan’s Nikkei 225 has surged higher by 252 points as the yen traded below 115 per dollar. The Hong Kong’s Hang Seng has gained 33 points and Shanghai Composite is trading flat.