Post Market Report: Nifty & Sensex breaks the 7 day bull run; ONGC, Spicejet, Ircon, Paytm in news

Dalal Street ended marginally lower on TursdayAmid weak global cues, the benchmark indices started on a negative note with Nifty below 20,900 and witnessed consolidation throughout the session, ahead of the RBI monetary policy meeting scheduled on December 8.

In broader markets, BSE midcap index rose 0.7 percent and smallcap index was up 0.3 percent.

The Indian rupee jumped 4 paise to 83.41 against the US dollar on Thursday.

Stock in News Today

Dr Reddy’s Laboratories:the company announced that Dr.Reddy’s Laboratories SA, a wholly-owned subsidiary, has entered into an exclusive collaboration for the development and commercialisation of COYA 302 for the treatment of amyotrophic lateral sclerosis (ALS).

ONGC: The share slide 3% during the day as Brent crude prices tank to a 5-month low. Upstream oil companies like ONGC stand to be negatively impacted by a fall in crude prices as it reduces their refining margins.

SpiceJet: Shares skyrocketed 20 percent to hit upper circuit and 52-week high of Rs 52.29 per share after the company said that its board will meet on December 11 to weigh options for raising fresh capital.

Ircon: Shares of IRCON International tanked nearly 8 percent as the government will sell up to 8 percent stake in the engineering and construction company through an offer for sale (OFS).

Adani Ports and Special Economic Zones Ltd: The port major surged over 2.2 percent to Rs 1,040, extending gains for the fifth day. The surge came after multiple media reports suggest that the company is in advanced talks to acquire Shapoorji Pallonji Group’s (SP) Gopalpur Ports in Odisha.

Power Grid Corp Ltd: The share surged 2.5 percent to Rs 230, rallying for the fifth day. On December 7, the state-owned power major was declared as the successful bidder for a Khavda RE park project.\

Apollo Hospitals Enterprises Ltd: Shares of the healthcare major declined 1.5 percent to Rs 5,461. Recently, multiple media reports accused Apollo of being involved in a “cash for kidneys” scandal involving villagers from Myanmar.

Paytm: Shares nosedive 18% on plans to scale down its low-ticket postpaid lending business comes after the RBI tightened the norms for unsecured consumer lending.