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POST-MARKET REPORT
The market closed with moderate gains on March 20 as investors remained cautious ahead of the Federal Open Market Committee (FOMC) meeting outcome.
At close, the Sensex was up 89.64 points or 0.12 percent at 72,101.69, and the Nifty was up 21.60 points or 0.10 percent at 21,839.10.
Top gainers on the Nifty included Eicher Motors, Maruti Suzuki, Power Grid Corporation, Nestle India, and ONGC, while losers were Tata Steel, Tata Consumer Products, Tata Motors, Axis Bank, and Cipla.
Among the sectors, auto, FMCG, realty, oil & gas, and power were up 0.5-1 percent each, while the metal index was down nearly a percent.
Considering Broader markets, BSE mid and smallcap indices ended flat.
STOCKS TODAY
Shakti Pumps: The Shakti Pumps stock fell nearly 4 percent after the water pump company opened qualified institutional placement (QIP) to raise Rs 200 crore. The floor price for the issue has been fixed at Rs 1,272.09, a 5 percent discount on the previous day’s closing price.
JSW Group: Conglomerate JSW Group and SAIC-owned MG Motor formed a joint venture to manufacture new electric vehicles (NEVs) in India, with plans to launch a new product, including NEVs, every three to six months beginning September with two new products to be launched this calendar year.
Maruti Suzuki: Shares of Maruti Suzuki zoomed 2.83 percent with strong volumes as the stock crossed the Rs 12,000 mark in the session. Eleven lakh shares changed hands compared to a monthly average of 5 lakh. CLSA recently said Maruti will maintain its top position in the CNG PV segment with a 72 percent share.
Tata Chemicals: The Tata Chemicals stock fell 7.93 percent with strong volumes on March 20. About 93 lakh shares changed hands compared to the monthly average of 57 lakh.
Indus Towers: Shares of Indus Towers gained 4.24 percent with strong volumes. As many as 3 crore shares were traded during the day against the monthly daily traded average of 2 crore.
Laurus Labs: The Laurus Labs stock fell 1.98 percent with strong trade volume in the session. As many as 24 lakh shares were traded compared to the monthly average of 18 lakh.
Cyient: The Cyient stock gained 1.77 percent after brokerage JP Morgan initiated coverage with an ‘overweight’ call and a target price of Rs 2,600, implying an upside of around 31 percent.