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Indian equity indices extended the winning streak for an 8th consecutive session on September 12, for the first time since July 23, led by auto, pharma, and metals names.
At close, the Sensex was up 355.97 points or 0.44 percent at 81,904.70, and the Nifty was up 108.50 points or 0.43 percent at 25,114. About 1922 shares advanced, 2036 shares declined, and 138 shares unchanged.
On the sectoral front, auto, pharma , metal, telecom added 0.5-1 percent, while realty, FMCG, media, PSU Bank ended lower.
Bharat Electronics, Bajaj Finance, Shriram Finance, Hindalco, Bajaj Finserv were among major gainers on the Nifty, while losers were HUL, Wipro, Trent, Eternal, Bajaj Auto.
Among the broader market indices, the BSE Midcap and smallcap indices are trading flat.
STOCKS TODAY
Hindustan Copper
Mining major Hindustan Copper went up 12.66 percent after their plan to increase its capacity by roughly threefold to 12.2 MT by FY31 from 3.47 MT in FY25. India’s leading miner has planned a capital expenditure of around Rs 2,000 crore over the next 5-6 years and will continue to add to the budget for exploration of copper ore reserves, the company said in an investor presentation, shared a day prior.
Jindal Stainless
The shares went down 2.66 percent on September 12, and other steel stocks also ended in red, after domestic brokerage JM Financial Securities said it expects Q2 results of steel companies to be subdued.
Infosys
The shares of Infosys ended 1.05 percent higher after the board of India’s second largest IT company approved a share buyback proposal worth Rs 18,000 crore, its largest ever. The shares were trading at Rs 1,539.90 apiece in the early hours of the session, as investors cheered the higher-than-expected share buyback announcement.
GMDC
Gujarat Mineral Development Corporation shares rallied 10 percent after Union Minister H D Kumaraswamy said the government is preparing fiscal incentives to encourage domestic production of rare earth magnets. This comes amid recent disruptions caused in their supply, which is currently dominated by China.
HFCL
Shares of Himachal Futuristic Communications Limited (HFCL) rose over 4 percent on September 12 after the Andhra Pradesh government allotted 1,000 acres of land for setting up defence manufacturing facilities.
Source – Money Control